KUALA LUMPUR (Nov 4): Proton Holdings Bhd, in which DRB-Hicom Bhd holds a 50.1% stake, is confident of selling 100,000 cars this year, if not more.
For the January-October 2019 period, Proton had already sold 79,833 units. This is an impressive 46% year-on-year growth given that the total industry volume has contracted by 1.3%.
According to Proton, its Malaysian market share is estimated at 16%, a healthy 5.2% increase over the previous year.
The latest car sales figures may help convince the investing fraternity that Proton could drive DRB-Hicom back on the growth path. DRB-Hicom's last closing share price was at RM2.47.
China Mobile Group Device Co Ltd is exploring a possible partnership with Green Packet Bhd to explore opportunities in promoting and distributing each other's products and services.
China Mobile Group Device is a subsidiary of state-owned China Mobile Communications Group Co Ltd, whose other subsidiaries include China's largest telecommunications company, China Mobile Ltd.
China Mobile Group Device and Green Packet have signed a memorandum of understanding (MoU) on the matter. Green Packet's last closing share price was at 73 sen.
Over at Sumatec Resources Bhd, its shares were actively traded on Bursa Malaysia last week, despite the fact that the counter will be suspended from trading later this week.
In a filing with the stock exchange on Thursday (Oct 31), Sumatec said trading of its shares will be suspended with effect from Thursday (Nov 7) until further notice.
The suspension on share trade is the result of a winding-up order in respect to a winding-up petition.
Interestingly, businessman Tan Sri Halim Saad clarified in a statement last Friday that he is not a controlling shareholder of the company. He stressed that his stake in Sumatec is only 3% to distance himself from the ailing company.
That said, the former Renong group boss said in the same statement that the board remains confident of keeping the company afloat. But Halim did not elaborate in detail.
Lotte Chemical Titan Holding Bhd closed down at RM2.45 on Friday, no thanks to the group's weak quarterly results.
At this price level, it is substantially below its initial public offer price of RM6.50. Has the stock reached its bottom? According to Bloomberg, eight analysts cover Lotte Chemical Titan. Two have buy calls, two have hold calls while four have sell calls.
Buy on rumour sell on news. Will this happen on Mudajaya Group Bhd, the share price of which just doubled in less than a week from 18 sen to 36 sen last week.
The power producer announced the emergence of new shareholders last Friday. Mudajaya Group announced on Friday Yakin Setiamas Sdn Bhd has emerged as the largest shareholder after the purchase of 162.33 million shares or a 27.52% stake in the company last Tuesday.
In filings with Bursa Malaysia, Mudajaya said Ample Full Profits Ltd owns a 90% stake in Yakin Setiamas while Chamber Jewels Ltd holds the remaining 10%.