MQ Market Updates - 15 July 2024

MQ Trader

Publish date: Mon, 15 Jul 2024, 05:13 PM

TMK Chemical Bhd, a chemical management and storage company, has filed for an initial public offering (IPO) on the Main Market to raise funds for expansion of one of its plants and the construction of a new facility in Singapore. (TheEdge)

KHPT Holdings Bhd will undertake an initial public offering (IPO) exercise after getting the nod from Bursa Malaysia to list on the ACE Market. (TheStar)

Elridge Energy Holdings Bhd has inked an underwriting agreement with KAF Investment Bank for its initial public offering (IPO), en route to an August listing on the ACE Market of Bursa Malaysia. (TheStar)

Advancecon Holdings Bhd has entered into a joint venture cum shareholders' agreement with Perak Equity Sdn Bhd, a unit of Perbadanan Kemajuan Negeri Perak (PKNPk), to develop centralised labour quarters (CLQs) in the state. (TheStar)

Ekovest Bhd, which was one of the most actively traded stock today, has clarified that its contractual obligations as the project delivery partner (PDP) for the River of Life (ROL) project were officially concluded in January 2015. (NST)

Bursa Malaysia Bhd and Persatuan Remisier Bumiputera Malaysia (Pribumi) have launched the Pribumi Bursa Malaysia Zakat Index (PBMZI), a new customised index designed to promote greater recognition of public listed companies (PLCs) that choose to adopt corporate zakat practice. (NST)

UUE Holdings Bhd's subsidiary, Kum Fatt Engineering Sdn Bhd has bagged two contracts with a sum of RM26.94 million for the installation, testing and commissioning of 11 kilovolt (kV) underground cables and accessories. (NST)

RHB Investment Bank Bhd research (RHB research) said the introduction of a 10-year validity passport is short-term positive, medium-term negative and long-term neutral for Datasonic Group Bhd. (NST)

Kucingko Bhd, a 2D animation company, expects its topline to rise to between RM33 million and RM39 million in the financial years 2024 and 2025 (FY24/FY25). (NST)

CAB Cakaran Corp Bhd’s integrated food-producing business will take off at the end of 2024 when its new processed food manufacturing plant in Nibong Tebal commences operations, transforming the group into a full-fledged integrated food producer. (TheStar)

Malaysian Genomics Resources Centre Bhd (MGRC) via its wholly-owned subsidiary MGRC Healthcare Sdn Bhd has partnered Kumpulan Perubatan Penawar Sdn Bhd (KPPSB) and Hospital Penawar Sdn Bhd (HPSB) to explore collaborations in genetic screening services. (TheStar)

Shares in Tafi Industries Bhd (KL:TAFI) surged to their highest in 18 months on Monday, after the company secured contracts for construction, piling and furniture works worth a combined total of RM207.46 million. (TheEdge)

Chin Hin Group Property Bhd (KL:CHGP) unveiled its first development in Penang called Crown Penang on Saturday. (TheEdge)

Maybank Investment Bank (IB) said it's the “last calls for bets” in a note on Monday for Genting Bhd (KL:GENTING), whose sum-of-parts (SOP)-based target price (TP) may be raised to RM9.35, if its 20%-owned TauRx Pharmaceuticals ends up getting valued at US$15 billion (RM70.11 billion). (TheEdge)

Source: New Straits Times, The Edge Markets The Star 15 July 2024