MQ Market Updates - 27 June 2024

MQ Trader

Publish date: Thu, 27 Jun 2024, 05:12 PM

EPB Group Bhd aims to raise RM40.08 million from its initial public offering (IPO) en route to its listing on the ACE Market of Bursa Malaysia on Aug 23, 2024. (TheStar)

The public portion of Johor Plantations Group Bhd's initial public offering (IPO), comprising 50 million IPO shares, has been oversubscribed 2.18 times. (TheStar)

Rakuten Trade said SBH Marine Holdings Bhd (KL:SBH) may extend its upward trajectory, after it broke out from its 11-week U-shaped recovery pattern, with a second consecutive white candle to surpass the 30 sen resistance on Wednesday. (TheEdge)

IHH Healthcare Bhd has appointed Tan Sri Dr Nik Norzrul Thani N. Hassan Thani, 63, as its independent and non-executive chairman effective today. (NST)

IJM Corp Bhd's shares on Bursa Malaysia surged this morning following the announcement of a RM331.7 million data centre (DC) construction contract. (NST)

KPJ Healthcare Berhad is carrying out its transformation path by improving its services, the health tourism industry, and digital transformation. (NST)

The ongoing investigation on alleged bribery involving Prolintas Group senior management will not directly have a material impact to the operations and financials of its listed trust Prolintas Infrastructure Business Trust, according to Affin Hwang Capital. (NST)

Pentamaster Corp Bhd's near-term earnings potential remains bright, driven by heightened demand in the factory automation solutions (FAS) segment and the recovery in the semiconductor space in the early upcycle. (NST)

Capital A Bhd's consulting unit AirAsia Consulting Sdn Bhd is believed to be one of the final three bidders in the run to acquire SriLankan Airlines (SAL). (NST)

IOI Properties Group Bhd’s (IOIProp) proposed acquisition of Singapore-based Shenton 101 Pte Ltd is expected to pave the way for a real estate investment trust (REIT) listing but it will further elevate the company’s already high net gearing level. (TheStar)

Gamuda Bhd aims to double its revenue to RM30bil by the financial year ending July 31, 2028 (FY28) from FY24, implying a compounded annual growth rate of about 20%. (TheStar)

Notion VTec Bhd (KL:NOTION), in its clarification on a recent article, maintained that three main factors were the driving factors for recent rise in its share price: strong financial performance recovery, the sector's turnaround, and positive analyst outlook. (TheEdge)

US-based global investment manager BlackRock, which has recently been in the spotlight due to the Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT) privatisation deal, has total assets worth RM27.5 billion in Malaysia since its entry into the country in the 1990s, according to Investment, Trade, and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz. (TheEdge)

HEKTAR Real Estate Investment Trust (Hektar REIT) (KL:HEKTAR), which has several retail malls in its portfolio, could see the emergence of a new substantial unitholder. (TheEdge)

The federal government has confirmed that telecommunications and digital conglomerate Axiata Group Bhd (KL:AXIATA) suffered losses from its venture in Nepal. (TheEdge)

INVESTORS who bet on the growth story of CCK Consolidated Holdings Bhd (KL:CCK) a year ago would have been quite handsomely rewarded as the share price of the integrated poultry and retail player has more than doubled on the back of its robust expansion plans. (TheEdge)

STATE-controlled Perak Corp Bhd (KL:PRKCORP) seems to have lost significant parcels of land as a result of not paying nominal amounts in quit rent, documents viewed by The Edge indicate. (TheEdge)

Shares in Poh Huat Resources Holdings Bhd (KL:POHUAT) fell to their lowest in more than two months, after the furniture maker reported weaker-than-expected results for the second quarter ended April 30, 2024 (2QFY2024). (TheEdge)

Source: New Straits Times, The Edge Markets The Star 27 June 2024