MQ Market Updates - 29 April 2024

MQ Trader

Publish date: Mon, 29 Apr 2024, 05:30 PM

Censof Holdings Bhd today announced that its all-digital platform for insurance and takaful, insureKU, has obtained Bank Negara Malaysia (BNM) approval to start operations. (NST)

Engineering solutions provider Kawan Renergy Bhd, en route for a listing on the ACE Market of Bursa Malaysia Securities on May 29, 2024, aims to raise RM33 million from its initial public offering (IPO). (TheStar)

Oil and gas exploration and production outfit Hibiscus Petroleum Bhd is looking to leverage the economic boom in the Tok Bali area (in Kelantan), by using it as one of its operating hubs. (TheEdge)

With the results of its first-quarter (1Q) performance in, Nestle (Malaysia) Bhd said 2024 is shaping up to be a challenging year with pressure on short-term growth as a result of inflation, foreign exchange volatility as well as heightened inflation. (TheStar)

Berjaya Corporation Bhd (BCorp) yesterday said that it has filed police reports regarding articles on its involvement in casino talks at Forest City, Johor, citing malicious intent aimed at causing political upheaval. (NST)

Salcon Bhd is acquiring a 70 per cent interest in SPH Dental, which owns four dental clinics, for RM7.28 million, in a move to expand its healthcare business. (NST)

Kuala Lumpur Kepong Bhd's (KLK) failure to resolve allegations of unethical recruitment could pose a risk to its environmental, social and governance (ESG) rating. (NST)

YNH Property Bhd's share price jumped as high as 11 per cent after it said it has made the requisite payments for its bonds following a technical default of its sukuk wakalah programme. (NST)

LPI Capital Bhd, whose bottomline rose a notable 37% in the first quarter of 2024, said it will focus on sustainability efforts within an increasingly competitive market environment. (TheStar)

TA Securities Research has valued ACE Market-bound Sin-Kung Logistics Bhd at 16.5 sen, equivalent to 14 times its earnings per share (EPS) for the 2025 financial year (FY25). (TheStar)

Meta Bright Group Bhd’s (MBGB) wholly-owned Australian subsidiary, Meta Bright Sdn Bhd, has secured financing facilities totalling RM28mil from AmBank (M) Bhd. (TheStar)

Top Glove Corporation Bhd bagged the Platinum Trusted Brand Award in the Hygiene/Disposable Gloves category at the Reader’s Digest Malaysian Trusted Brand 2024 awards. (TheEdge)

Malakoff Corp Bhd has inked a partnership with China Northeast Electric Power Engineering & Services Co Ltd (NEPCS) for technical manpower supply for the operation and maintenance (O&M) of combined cycle power plant (CCPP) projects under NEPCS in Bangladesh. (TheEdge)

Sime Darby Property Bhd has achieved a 100% take-up rate for The Corak freehold commercial hub at the Serenia City township in Sepang, according to a press statement issued on Monday. The Corak is the township's first commercial hub. (TheEdge)

Source: New Straits Times, The Edge Markets The Star 29 April 2024