MQ Market Updates

MQ Market Updates - 12 March 2024

MQ Trader
Publish date: Tue, 12 Mar 2024, 05:06 PM

Shares in CTOS Digital Bhd fell as much as 27% on Tuesday, wiping out all gains since its listing, after a High Court decision ruled that credit reporting agencies are not legally empowered to formulate credit scores. The counter declined to a new record low of RM1.06, near its initial public offering price of RM1.10, in high trading volume on Bursa Malaysia. At noon, the stock was trading at RM1.14, down 21% and set for its steepest decline in a single day on record since its debut in July 2021, after 117 million shares changed hands. At least one analyst downgraded the stock. (TheEdge)

Malaysian-based technology group Microlink Solutions Bhd's share price hit a new low of 36 sen today after the stock market regulator issued an unusual market activity (UMA) query on the company. Short selling in the stock has been suspended following the sharp fall in price. (NST)

Mini-market chain operator 99 Speed Mart Retail Holdings Bhd has filed a draft prospectus for an initial public offering (IPO) on the Main Market of Bursa Malaysia as part of its plan to grow to 3,000 stores nationwide. According to draft prospectus, the company is planning an IPO of up to 1.428 billion ordinary shares in 99 Speed Mart, comprising of an offer for sale of up to 1.028 billion existing shares and a public issue of 400 million new shares. (NST)

HeiTech Padu Bhd has bagged a RM13.1 million contract extension to provide maintenance services for Malaysian Immigration System, MyIMMs. The company in a fiing with Bursa Malaysia Securities yesterday said it accepted the job from the Malaysian Immigration Department on Mar 7, 2024. (NST)

YTL Power International Bhd’s subsidiary Wessex Water Services Ltd will likely return to profitability following an increase in water tariff to be imposed from April 1. According to CGS International Research (CGSI), Wessex will impose an 11% increase to water bills of its customers as part of its approved annual water tariff adjustments. (TheStar)

Boustead Properties Bhd, via its subsidiary Boustead DCP Sdn Bhd, has formed a partnership with Opus International (M) Bhd via its subsidiary Opus Energy Sdn Bhd on March 11 for sustainable energy solutions. Opus International is a wholly owned subsidiary of UEM Edgeneta Bhd. (TheEdge)

The collaboration between Tenaga Nasional Bhd (TNB) and Siemens Energy can be the catalyst for exploring innovative technologies and solutions for the use of hydrogen in Malaysia. Investment, Trade and Industry Minister Datuk Seri Zafrul Tengku Abdul Aziz said this initiative is in line with the National Energy Transition Roadmap (NETR). (NST)

Sime Darby Property Bhd has achieved a 100% take-up rate for the first phase of XME Boulevard at the Nilai Impian township in Negeri Sembilan during its official launch on March 2, according to a press statement issued on Tuesday. XME Boulevard will be developed in two phases. The second phase will be launched at end-March. (TheEdge)

Hong Leong Investment Bank (HLIB) said Tomei Consolidated Bhd is strategically positioned for robust sales during the upcoming Hari Raya period, historically driving sales for the company’s 916 gold products. In a technical tracker on Tuesday, the research house said that coupled with margin expansion, the jeweller is anticipated to yield strong results for the second quarter ending June 30, 2024 (2QFY2024).

Source: New Straits TimesThe Edge Markets The Star 12 March 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

Related Stocks
Market Buzz
Discussions
Be the first to like this. Showing 0 of 0 comments

Post a Comment