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its rainy in NYC

Updated: Oct 21, 2024

cold rainy day with coffee and salty caramel in NYC

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navalikerain

November 4, 2024, 0:02

*Corporate News* (Source: The Edge)
4 November 2024
AmBank Retail Research

*Gamuda Bhd* has secured a RM451.4 million contract to build a data centre in Cyberjaya. The contract will cover the data centre’s foundational, civil, structural and architectural works. Works are expected to begin by December and be completed in the first quarter of 2026.

*Parkwood Holdings Bhd*, via its wholly-owned subsidiary Parkwood Templers Sdn Bhd, has acquired five parcels of freehold land in Rawang, totalling 32.3 acres (13.1ha), for RM30.9 million. Parkwood said it has plans to develop this cluster of land into a contemporary landed residential enclave. The development is expected to be launched by the third quarter of 2026.

*YNH Property Bhd*’s external auditor has cast doubt on the property developer’s financial statements for the financial year ended June 30, 2024 (FY2024), citing insufficient evidence for certain ventures and contracts. Morison LC PLT noted that during FY2024, certain turnkey contracts were terminated or deemed incomplete, leading to the reclassification of RM66.88 million from inventories to other receivables, with the remaining RM1.03 billion recorded as inventories.

*Rexit Bhd* has appointed a unit of LGMS Bhd as an independent cybersecurity audit firm to reaffirm the company’s data security against breaches. This comes after two of the Software-as-a-Service (SaaS) provider’s major shareholders were sentenced to jail in a Singaporean court for participating in a conspiracy to illegally obtain data of over 9,000 people.

*Techna-X Bhd* now has until Nov 7 to submit its outstanding annual report for the financial period ended June 30, 2024, failing which the trading of its securities will be suspended the following day. The Main Market-listed company has failed to submit its annual report — including its annual audited financial statements, as well as the auditors’ and directors’ reports — to Bursa Malaysia Securities for public release within the stipulated time frame on Oct 31.

*RGT Bhd* said it is buying two leasehold industrial plots for RM16.8 million, located in Simpang Ampat, Penang, to set up dedicated assembly and production lines for new customers and to enhance its production efficiency. The new properties, situated within the same industrial estate — Taman Perindustrian Bukit Minyak — are expected to result in cost savings in logistics and management, said RGT.

*Bumi Armada Bhd*, has secured a £50 million (about RM283 million) contract to provide a flare gas recovery system in the UK’s North Sea. Its wholly-owned Bumi Armada UK Ltd signed a four-year engineering, procurement, construction, installation, and modification agreement with EnQuest Heather Ltd on Oct 29 for the job.

*Kimlun Corp Bhd* has secured a RM128.52 million contract to upgrade a portion of the Senai-Desaru Expressway, following a tender. Its wholly-owned Kimlun Sdn Bhd won the bid to upgrade the stretch of the highway from Jambatan Sg Johor (KM49.3) to Sg. Semenchu (KM58.7). The construction work is expected to be completed in the second quarter of 2027.

*Pintaras Jaya Bhd* has secured two piling contracts in Singapore worth about RM175 million. The contracts, which are set to commence this month, were secured through Pintary Foundations Pte Ltd, a wholly-owned unit based in Singapore.

*MMAG Holdings Bhd* announced that its aviation arm MMAG Aviation Consortium Sdn Bhd (MAC) has received regulatory approval to operate a leasing business in Labuan. MMAG said MAC has obtained a letter of approval from the Labuan Financial Services Authority to establish MMAG Skyfleet Ltd, a wholly-owned entity based in Labuan dedicated to the leasing business.


_Disclaimer: This message is for information purposes only and is not intended to be distributed to any third party. It does not construe as an offer/a solicitation/a recommendation to buy/sell any stocks.

navalikerain

November 4, 2024, 0:02

*AmBreakfast Note*
4 November 2024
AmBank Retail Research

*Market Overview*

*FBM KLCI* up 2.1pts or 0.1% to close at 1,603.98. We maintained the resistance level at *1,700* and the support level at *1,600*. Trading volume decreased to 2.2bn (2.5bn previously), while trading value was at RM2.4bn (RM3.0bn previously). Market breadth remained negative (430 Vs 543). Gainers were seen in plantation (+2.8%), utilities (+0.6%), and health care (+0.5%); while losers were seen in construction (-1.3%), technology (-0.5%), and financial services (-0.4%).
*Asian Equities* ended mixed. Hang Seng index gained 0.9% driven by positive news from the recent FII summit. Japan Nikkei 225 eased 2.6%. *European STOXX 600* up 1.1%. *US stocks* ended higher on Friday as investors shook off a soft payrolls report that was distorted by labor strikes and hurricanes, and then latched onto the strong gains in AMZN after its quarterly earnings provided a lift. Dow added 0.7%, while Nasdaq gained 0.8% as traders evaluated the latest jobs report.

*Future market* indicate a *Positive* opening for Asian equities today.

*AmBank Equity Research reports:*

*Stock on Radar* SARAWAK OIL PALMS

*Malaysia*
KLCI: 1,603.98 (+2.1, +0.1%)
FBM Small Cap: 16,966.78 (+0.1%)
Gainers: 430 | Unch: 511 | Losers:543

*Global Markets*
Dow: 42,052.20 (+288.7, +0.7%)
NASDAQ: 18,239.92 (+0.8%)
Europe STOXX 600: 510.91 (+1.1%)
Hang Seng: 20,506.43 (+0.9%)
Nikkei: 38,053.60 (-2.6%)
Straits Times: 3,555.44 (-0.1%)
Oil (Brent): 69.29 (-1.6%)
CPO: 4,868.00 (+3.7%)
USD/MYR: 4.3750 (+0.0%)


_Disclaimer: This message is for information purposes only and is not intended to be distributed to any third party. It does not construe as an offer/a solicitation/a recommendation to buy/sell any stocks. Please consult your own independent adviser(s) before investing in any stocks and no responsibility or liability can be accepted for any loss or damage that may arise from the reliance of this message._