NEWS HIGHLIGHTS

• Hextar Technologies sells Klang land for RM8.8m

• Unitrade acquires 2-acre land for RM7.8m to develop centralised labour quarter solutions

• SCIB’s RM97.8m contract with Landasan Kapital falls through

• Eversendai unit in talks with IRB to withdraw winding-up petition following RM2.0m settlement

• Public portion of Alpha IVF's IPO oversubscribed by 1.7 times

MACRO BITS

• China has never cancelled this many shipments of US wheat

• Rebounded in January on a broad-based expansion led by manufacturing (See Economic Viewpoint: Malaysia Industrial Production)

• New potential investments worth RM45.4b from Germany, says Zafrul

• Zafrul sees E&E opportunities amid US-China tensions

• Malaysian, Cambodian companies to explore opportunities in digital ecosystem

• Japan's economy recovering but showing signs of weakness, says BOJ chief Ueda

• Most Bank of Korea board members said too early for policy pivot - minutes

• India finally embraces trade deals as companies look past China

• US core inflation tops forecasts for second straight month

• US small business optimism falls to lowest in 9 months, NFIB says

• Biden's USD7.3t budget is campaign pitch for spending, tax goals

• US February budget deficit climbs on interest costs, tax refunds

• UK wage growth slowest since 2022, offering relief to Bank of England

• German inflation eases to 2.7% in February

IDEAS OF THE DAY

• Sector Update: Oil & Gas (4QCY23 Report Card)

• Initiating Coverage: ICON

• Company Update: AIRPORT, CTOS

• Economic Viewpoint: MY IPI

Source: Kenanga Research - 13 Mar 2024