MQ Market Updates - 26 July 2024

MQ Trader

Publish date: Fri, 26 Jul 2024, 05:25 PM

Short selling in Cape EMS Bhd's shares were suspended until next Monday after its share price plunged to 69 sen a piece, its lowest since listing in March 2023. At midday, its share price closed 15.9 per cent to 74 sen a share, giving it a market capitalisation of RM734 million. (NST)

Dagang Nexchange Bhd (Dnex) said Ping Petroleum Sdn Bhd, a unit of its energy fivision, has secured an award from Petroliam Nasional Bhd (PETRONAS) in relation to a small field asset cluster production sharing contract, which consists of the Bubu, Bunga Tasbih and Enau fields. (TheStar)

99 Speed Mart Retail Holdings Bhd has signed a retail underwriting agreement with three investment banks in conjunction with its upcoming initial public offering (IPO) on the Main Market of Bursa Malaysia. It is due to be listed in the third quarter of 2024. (NST)

Nestle Malaysia Bhd's share price fell to a three month low as analysts said that boycott sentiment and cost pressures will continue to put a strain on its earnings. The stock was trading at RM117.3 a share earlier, giving it a market capitalisation of RM27.5 billion. (NST)

Datasonic Group Bhd (KL:DSONIC) has secured a RM30 million contract to supply smart cards to Perum Percetakan Negara Republik Indonesia (PNRI), a unit of the Indonesian Ministry of State-Owned Enterprises. (TheEdge)

Kucingko Bhd opened at a whopping 168.33 per cent premium over its initial public offering price (IPO) on its debut on Bursa Malaysia's ACE Market. Shares of Kucingko - the first publicly listed 2D animation production company - was traded at 80.5 sen at the opejing bell. (NST)

Hibiscus Petroleum Bhd’s indirect wholly owned subsidiary Hibiscus Oil & Gas Malaysia Ltd (HML) has been awarded a 65 per cent participating interest and operatorship in a production sharing contract by Petronas. (TheStar)

Westports Holdings Bhd's net profit rose 4.6 per cent to RM203.74 million in the second quarter (2Q) ended June 30, 2024 with an increase in container revenue. The year before, it made a net profit of RM194.76 million in the same quarter. (NST)

Texchem Resources Bhd is expected to post stronger earnings driven by volume recovery and margin expansion from operating leverages across all business units, said RHB Research. Texchem posted a second quarter (Q2) 2024 core profit of RM1 million, bringing the first half of 2024 (1H24) core losses to RM400,000. (NST)

Oleochemical and palm oil company Southern Acids (M) Bhd (KL:SAB) has allocated RM43.8 million to cover its capital expenditure (capex), including for planting, equipment purchase and plant upgrades. (TheEdge)

IGB Real Estate Investment Trust's (IGB REIT) net profit for the second quarter ended June 30, 2024 (2Q 2024) rose 0.7 per cent to RM81.54 million from RM80.97 million in 2Q 2023. Revenue increased six per cent to RM149.96 million from RM141.54 million previously, it said in a filing with Bursa Malaysia today. (NST)

Source: New Straits Times, The Edge Markets, The Star 26 July 2024