Kenanga Research & Investment

Kenanga Today Highlights - 01 Mar 2024

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Publish date: Fri, 01 Mar 2024, 10:32 AM

NEWS HIGHLIGHTS

  • TIME dotCom posts record profits, dividend for FY2023
  • Sarawak Oil Palms 4Q net profit more than doubles as output, volume rise
  • Datasonic posts RM16.5m net profit in Q3
  • KAB proposes to buy Kedah mini hydropower
  • Bina Darulaman's FY2023 net profit more than doubles to RM12.7m

MACRO BITS

  • Global oil demand to grow by 1.9m bpd in 2024, says Wood Mac
  • India's wheat, rice output to drop in 2023/24, government says
  • Broad money supply sustained; loan growth surged to a 15-month high (See Economic Viewpoint: Malaysia Money & Credit)
  • Federal govt debt climbed 8.6% to RM1.17t at end-2023 — MOF
  • Putrajaya expects RM700.0m annual revenue from high-value goods tax
  • Taiwan revises up 2024 GDP growth forecast as exports recover
  • Thai Jan factory output shrinks for 16th month, auto production drags
  • BOJ policymaker calls for overhaul of ultra-loose monetary policy
  • Services drive US prices higher in January; inflation gradually cooling
  • Fed's Goolsbee: policy 'restrictive,' more disinflation likely
  • US pending home sales fall in January as high mortgage rates deter buyers
  • US House approves bill to avert government shutdown
  • Euro zone inflation dips but stubborn core prices may worry ECB
  • ECB needs to stay the course until more comforting wage data, says Nagel

IDEAS OF THE DAY

  • Sector Update: Banking
  • Results Note: AFFIN, AIRPORT, BIPORT (RISE), CAPITALA, CIMB, DRBHCOM, ENGTEX (RISE), IHH, KERJAYA, NATGATE, OMH (RISE), PHARMA, QL, SPSETIA, TCHONG, WCT
  • Company Update: GHLSYS, HSPLANT, KGB, SLVEST, UZMA, WASCO
  • Rating Summary
  • Economic Viewpoint: Asia FX Monthly Outlook, MY Money & Credit, Ringgit Weekly Outlook

Source: Kenanga Research - 1 Mar 2024

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