Sustainable energy specialist Kinergy Advancement Bhd (KAB), is expanding into the Philippines, its fourth market in Southeast Asia via a solar power project with Philippine conglomerate, LCS Holdings Inc. The group's wholly-owned subsidiary, KAB Energy Holdings Sdn Bhd (Kabeh) has signed a Head of Agreement (HOA) with LCS Holding, which has extensive expertise in solar energy development. Under the agreement, Kabeh and LCS will jointly develop a 20 Megawatts-peak (MWp) solar farm project located at Santa Ilocos Sur, Philippines. The project can be expanded up to 100 MWp. LCS, the project owner, has secured all necessary contracts and permits for this solar farm project. (NST)

YNH Property Bhd was one of the stock market's top losers today after MARC ratings agency announced a downgrade of its sukuk and that it has been placed under MARCWatch Negative. YNH Property also announced on Wednesday, that it had made an oversight in not announcing a RM150 million acquisition of land in Desa Hartamas by its subsidiary Kar Sin Bhd when queried by Bursa Malaysia Securities Bhd. It lost 36.5 sen of its share value today to close at 85.5 sen a share at midday break. This was after Bursa Securities froze its lower limit at RM1.22 a share yesterday. Just under a month ago, the stock was trading at RM4.95 a share. (NST)

Eco World Development Group Bhd wholly owned subsidiary Eco Botanic 3 Sdn Bhd (EB3SB) has entered into a conditional development agreement with Permodalan Darul Ta’zim Sdn Bhd (PDT) to acquire 97.25 hectares (240.31 acres) in Iskandar Malaysia for a purchase consideration of RM450.1 million. EB3SB also entered into a conditional sale and purchase agreement with River Retreat Sdn Bhd to acquire the freehold land. River Retreat is owned by Iskandar Investment Bhd and Iskandar Waterfront Holdings. In a note today, MIDF Amanah Investment Bank Bhd said the proposed acquisition is expected to complete by end-2024. (TheStar)

Selling pressure has struck technology services provider Heitech Padu Bhd on Friday, as its share price plunged 29.9% to hit limit-down. At 10.27am, the stock — whose opening price is RM1.05 — hit its limit down at 75 sen. The counter, which saw 2.72 million shares traded, was the fifth biggest loser in the morning session. Last Friday (Jan 12), the stock hit its one-year high at RM1.17 sen. The last time the stock fell below 80 sen was on Nov 27 last year. Prior to hitting its limit-down, the counter had risen over 30% year-to-date.(TheEdge)

Mi Technovation Bhd has set its sights on expanding its semiconductor equipment sales by 150 per cent in the next five years with auto and renewable energy segments as key growth drivers for the group. Public Investment Bank (PublicInvest) research said the company's management expects all key markets to also contribute to growth namely China (by 60 per cent), Taiwan (207 per cent) and Malaysia (376 per cent). Mi Technovation has also recently ventured into the Vietnamese and Europe markets.(NST)

KAF Research maintained a “buy” rating on Muhibbah Engineering (M) Bhd with an unchanged target price (TP) of 86 sen, representing a 30% discount compared to the net asset value (NAV), following a recent contract win by its unit Favelle Favco Bhd. Muhibbah Engineering’s 64%-unit Favelle Favco recently secured new manufacturing orders worth RM79 million for its cranes, comprising one unit of offshore crane and tower crane each, as well as machinery replacement orders. The offshore crane will be scheduled and delivered to Servizi Energia Italia, while the tower crane will go to Resolution Rigging Services by the middle and end of this year, it stated. (TheEdge)

Source: New Straits Times, The Edge Markets The Star 19 January 2024

Need a Trading Account?

Open a trading account now for FREE with our selected advertiser to enjoy Free Subscription to MQ Trader!

Contact Us

Please do not hesitate to contact us if you have any inquiries:

Facebook: https://www.facebook.com/mqtrader 
Instagram: https://www.instagram.com/mqtrader 
MQ Chat: https://messenger.i3investor.com/m/chatmq 
YouTube: https://www.youtube.com/channel/UCq-26SGjlQTVQfO7DoEihlg 
Email: admin@mqtrader.com