MQ Market Updates - 10 July 2024

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Publish date: Wed, 10 Jul 2024, 05:22 PM

Bathroom and kitchen sanitary ware solution provider, Sorento Capital Bhd has received approval from Bursa Malaysia Securities Bhd to list on the ACE Market of Bursa Securities. (TheStar)

Wawasan Dengkil Holdings Bhd, a construction services company, filed for an initial public offering (IPO) on the ACE Market to raise funds to buy equipment, and to finance project working capital. (TheEdge)

Sarawak Cable Bhd today announced that a High Court order has placed the company under interim judicial management. (NST)

Affin Bank Bhd aims to boost its transaction handling capacity for both low and high-value transactions across all its banking platforms by over 20 per cent, following its partnership with software solution provider, ACI Worldwide. (NST)

Shares in Vestland Bhd (KL:VLB) rose to a new record high since the construction company's listing 18 months ago, following a RM195.35 million contract win. (TheEdge)

Wessex Water, YTL Power International Bhd's water and sewerage firm in the United Kingdom (UK), has a bright outlook due to its high planned capital expenditures (capex) and excellent operating performance, says RHB Investment Bank Bhd (RHB Research). (NST)

Theta Edge Bhd has bagged a RM673.8 million contract for a 20-year concession to develop, provide and maintain Internet of Things (IoT) solutions for Ampang Jaya Municipal Council (MPAJ). (NST)

Mi Technovation Bhd is poised to enter a new business cycle for both smartphones and personal computers (PCs), as the evolving development of artificial intelligence (AI) is set to positively impact both segments. (NST

Analysts are revising higher their valuations for CTOS Digital Bhd as the group's recent court victory has removed overhanging fears over its business model. (TheStar)

RHB Investment Bank favours Kerjaya Prospek Group Bhd (KL:KERJAYA) for its attractive dividend yield of 5% estimated for the financial year ending Dec 31, 2025, alongside a steady profit after tax margin. (TheEdge)

The Human Resource Development Fund (HRDF) has acquired Widad Group Bhd (KL:WIDAD) shares, which tanked from 62 sen to six sen, under a put and call option arrangement (PCOA), according to the briefing notes on the findings by the National Audit Department on Tuesday. (TheEdge)

A merger between MISC Bhd (KL:MISC) and Bumi Armada Bhd (KL:ARMADA) may be too difficult to pull off, UOB Kay Hian said on Wednesday, flagging potential stakeholder resistance and a lack of financial synergy. (TheEdge)

The ceiling at Gate G6 boarding lounge at the Kuala Lumpur International Airport (KLIA) Terminal 1 has experienced leakage on Thursday morning due to exceptionally heavy downpour, according to Malaysia Airports Holdings Bhd (MAHB). (TheEdge)

Malayan Banking Bhd’s (Maybank) insurance and takaful arm Etiqa has identified two sweet spots which include bancassurance and motor insurance for its insurance premium growth, according to CGS International (CGSI) Research. (TheStar)

Kenanga Investment Bank said it has downgraded Westports Holdings Bhd to underperform following a run-up in its share price despite the Red Sea crisis weighing on the frequency of ship calls at its port. (NST)

Source: New Straits Times, The Edge Markets The Star 10 July 2024