Based on corporate announcements and news flow today, companies that may be in focus tomorrow (Oct 14) include Top Glove Corp Bhd, GuocoLand (Malaysia) Bhd, Tune Protect Group Bhd, Symphony Life Bhd, Kanger International Bhd, Reservoir Link Energy Bhd and Handal Energy Bhd.

Top Glove, GuocoLand, Tune Protect, Symphony Life, Kanger, Reservoir Link and Handal Energy

Symphony Life Bhd's wholly-owned unit Prestige Capital Sdn Bhd is planning to sell six parcels of industrial development land in Ulu Langat, Selangor to Perdana Park City Sdn Bhd for RM250 million, which is more than two-thirds of Symphony Life's market capitalisation.

Symphony Life to sell six parcels of land in Ulu Langat for RM250m

Public Bank Bhd has confirmed that one of its staff at Menara Public Bank, Jalan Ampang, KL, has tested positive for Covid-19 yesterday (Oct 12).

The staff has not reported to work since Oct 10, said Public Bank's managing director and chief executive officer Tan Sri Tay Ah Lek in a statement.

Public Bank says one of its staff at Menara Public Bank tested positive for Covid-19

Tune Protect Group Bhd has appointed Indian national Rohit Chandrasekharan Nambiar as its group chief executive officer, effective tomorrow.

Former AXA Affin's Rohit is new Tune Protect group CEO

Reservoir Link Energy Bhd said its 60%-owned subsidiary has bagged a contract from Thailand’s national petroleum company PTT Exploration and Production Public Company Ltd (PTTEP).

Reservoir Link bags mechanical heating equipment contract from PTTEP

Malaysia reported 563 new Covid-19 cases today — its second highest new daily cases — with two new deaths, according to the Ministry of Health (MoH). This raises the country's cumulative Covid-19 cases to date to 16,220, with total deaths from the coronavirus at 159 or 1% of overall cases.

Covid-19: Malaysia reports 563 cases today, with six new clusters and two more deaths

Based on corporate announcements and news flow today, companies that may be in focus tomorrow include Top Glove Corp Bhd, UMW Holdings Bhd, MESB Bhd, MyNews Holdings Bhd and Tiong Nam Logistics Holdings Bhd.

Top Glove, UMW, MESB, MyNews, Tiong Nam

Supermax Corp Bhd and Kossan Rubber Industries are among the top gainers on Bursa Malaysia today, after Maybank Investment Bank Research said the two glove makers are likely to be included in the FBM KLCI at the next review in November.

Supermax, Kossan top gainers on Bursa on news they may be included in KLCI

The world's largest rubber glove maker, Top Glove Corp Bhd, is evaluating a dual primary listing on the Hong Kong stock exchange (HKEX).

“The proposed HKEX listing is still at a preliminary stage and the structure of the proposed HKEX listing has not been finalised,” said Top Glove in a filing to Bursa Malaysia.

Top Glove evaluating dual primary listing on Hong Kong stock exchange

KUALA LUMPUR (Oct 9): theedgemarkets.com highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close today. All stocks displayed negative momentum.

Stocks with negative momentum were:

Advance Synergy Bhd – up 5.5 sen at 27.5 sen

Johore Tin Bhd – up six...

Advance Synergy, Johore Tin, MUI Properties, Pan Malaysia, Tasco, Vertice, Wegmans, Wellcall

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives snapped two consecutive days of gains to end lower on Wednesday, said a dealer.

Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the weakness in the Chicago Board of Trade (CBOT) soybean oil futures during Asian trading hours and the Malaysian Palm Oil Association’s (MPOA) estimates weighed down CPO prices.

CPO futures snaps two-day winning streak to end lower

Keretapi Tanah Melayu Berhad (KTMB) will provide two electric train services (ETS) for the Padang Besar- KL Sentral route and vice versa in conjunction with this year's first-term school holidays from May 24 till June 3.

KTMB in a statement on Wednesday announced that the additional train tickets will go on sale at 8pm on Thursday (May 9).

KTMB will provide two additional ETS services ahead of first-term school holiday

Malaysia and Saudi Arabia held bilateral talks focusing on the agriculture sector, research and efforts to improve market access between the two countries, according to the Ministry of Agriculture and Food Security.

The ministry, in a statement on Wednesday, said Minister of Agriculture and Food Security Datuk Seri Mohamad Sabu highlighted the potential of several Malaysian products for export to Saudi Arabia, such as tropical fruits, value-added animal products and animal feed, ready-to-eat products, egg and dairy products, as well as aquatic products like frozen catfish.

Malaysia, Saudi Arabia hold talks to boost agriculture sector, market access

Pharmaniaga Bhd’s (KL:PHARMA) has been flagged by its independent auditors again, as its current deficit and capital deficiency for the financial year ended Dec 31, 2023 (FY2023) widened from a year ago.

Messrs PricewaterhouseCoopers PLT (PwC) raised material uncertainty on the Pharmaniaga whereby its audit indicated that the group and the company incurred net losses of RM78.7 million and RM63.3 million respectively.

Pharmaniaga’s auditors raise going concern again as current deficit, capital deficiency widen

Sarawak Cable Bhd (KL:SCABLE) has to go back to the drawing board and look for a new white knight to regularise its financials.

The Practice Note 17 (PN17) company announced that the Memorandum of Agreement it entered with Serendib Capital Ltd has fallen through.

Sarawak Cable needs a new white knight as 'resuscitation exercise' falls through

Paragon Globe Bhd (KL:PGLOBE) is selling part of a parcel of freehold land it had just acquired in the district of Plentong, Johor Bahru, for RM238.32 million to improve its liquidity and financial position.

Paragon Globe to sell part of JB land it just bought for RM238 mil

In today’s edition of Evening 5: 00:00 Top 100 stocks add RM175 bil to market cap 01:54 Axiata, Sinar Mas seeking permission for merger from Indonesian govt 03:09 Record earnings push MNRB to record highs 04:26 Finance costs weigh on Sentral REIT 06:03 Go Hub Capital gets nod for ACE Market listing

EVENING 5: Malaysia’s top 100 stocks add RM175 bil to market cap

EVENING 5: Five things you need to know today

Communication Minister Fahmi Fadzil has stressed that the police investigation into the news report about the proposed casino development in Forest City, Johor, was not initiated by the government but resulted from a police report lodged by a law firm representing a company mentioned in the article.

Govt had nothing to do with police probe into Forest City casino issue — Fahmi

The Home Ministry (KDN) has inked 14 contracts with local companies valued at RM2.156 billion in conjunction with the Defence Services Asia (DSA) Exhibition & Conference 2024 and National Security (NATSEC) Asia 2024.

Home Minister Datuk Seri Saifuddin Nasution Ismail said the signing of the contracts is symbolic of the ministry’s continuous efforts for agencies under its purview.

Home Ministry signs 14 contracts with local companies worth over RM2 bil

Former prime minister Tan Sri Muhyiddin Yassin has been granted a temporary release of his passport to visit a sick family member in Australia.

Sessions Court judge Azura Alwi allowed the Bersatu chief's application and ordered the travel document to be released on Wednesday and for it to be returned to the court on May 28.

Muhyiddin gets temporary release of passport to visit sick family member abroad

Shares in Sime Darby Plantation Bhd [KL: SIMEPLT] rose to their highest in two years following its announcement to develop the Tali Ayer estate in Perak into a green industrial park.

Sime Darby Plantation shares surge to two-year high following proposed solar project in Perak

Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore, Asia's main oil hub, to a joint venture between Indonesian chemicals firm Chandra Asri and Swiss miner and commodities trader Glencore.

Shell to sell Singapore refinery, petchem assets to Chandra Asri and Glencore

Homegrown information and communications technology (ICT) distributor Vstecs Bhd’s (KL: VSTECS) wholly-owned subsidiary, Vstecs Ku Sdn Bhd, has been picked as Amazon Web Services' (AWS) first distributor in Malaysia.

Amazon Web Services picks Vstecs as first distributor in Malaysia

Interim liquidators appointed by the Shah Alam High Court pursuant to a petition by Hitachi Ltd to look into the affairs of its wholly-owned Fusiotech Holdings Sdn Bhd are investigating claims of potential diversion of business by Fusionex Malaysia to third parties.

Fusionex liquidators probing alleged diversion of business to third parties

KUALA LUMPUR (May 8): Petronas Dagangan Bhd (KL:PETDAG) faces a threat from Saudi Aramco’s possible entry into Malaysia’s fuel retailing market, on top of the impending withdrawal of fuel subsidies, CGS International warned.

Petronas Dagangan faces twin share de-rating threats — CGS

Malaysia’s largest 100 companies added RM175.33 billion to their market value since the start of the year as optimism for a US Federal Reserve rate cut fuelled a broad rally in sectors ranging from technology to utilities.

RM175 bil poured into Malaysia's top 100 stocks since start of 2024, more seen coming

KUALA LUMPUR (May 8): Insurer and reinsurer MNRB Holdings Bhd’s (KL:MNRB) net profit more than doubled year-on-year (y-o-y) in the fourth quarter, thanks to lower insurance expenses and higher investment income, sending its shares surging to an all-time high.

MNRB logs record profits from lower insurance expenses, higher investment income

Offshore drilling firm Velesto Energy Bhd (KL:VELESTO) is expected to report that its net profit may more than tripled in the first quarter (1Q) from a year earlier with all of its rigs utilised, Maybank Investment Bank said.

Velesto may report strong 1Q results with rigs fully occupied — Maybank IB

China has extended the visa-free policy for short-term visits to China for Malaysia and 11 other countries until the end of 2025, Xinhua reported, citing Chinese Foreign Ministry spokesperson Lin Jian.

China extends visa-free travel policy for Malaysia until end of 2025

The US has revoked licences that allowed companies including Intel and Qualcomm to ship chips used for laptops and handsets to sanctioned Chinese telecoms equipment maker Huawei Technologies, three people familiar with the matter said.

US revokes Intel, Qualcomm's export licences to sell to China's Huawei — Reuters

MNRB Holdings Bhd (KL:MNRB) was Bursa Malaysia’s biggest gainer on Wednesday, after the insurer and reinsurer announced record quarterly and annual net profit for the financial year ended March 31, 2024 (FY2024).

MNRB makes biggest single-day jump after record FY2024 earnings

Communications Minister Fahmi Fadzil said the government is prepared to engage with the US counterparts to understand the details regarding possible sanctions against Malaysian companies.

Govt prepared to engage with US counterparts over possible sanctions — Fahmi

Shares of Bursa Malaysia Bhd (KL:BURSA) extended gains to its highest since March 2021, following news that Malaysian stocks trading in its exchange hit a historical high of RM2 trillion in market capitalisation on Tuesday (May 7).

Bursa Malaysia shares hit fresh three-year high as local equities breach RM2 trillion market cap

SYDNEY/HONG KONG/SINGAPORE (May 8): Global private equity investors and asset managers are readying for billions of dollars worth of mergers and acquisitions (M&amp;As) and investments linked to data centres in the Asia Pacific, as the artificial intelligence (AI) boom fuels demand for digital infrastructure.

AI boom set to fuel data centre deals in Asia this year

KUALA LUMPUR (May 8): The global semiconductor industry is expected to rebound this year, driven by demand for generative artificial intelligence (AI), with the industry’s upcycle likely to continue until 2025 or 2026, said Nomura Asset Management.

Global semiconductor industry to recover this year through 2026 on generative AI demand — Nomura

A Singapore Air Force F-16 jet crashed during takeoff at a military airbase, the Ministry of Defence said on Wednesday.

Singapore Air Force F-16 fighter jet crashes after takeoff

The former director and chairman of the board of SRC International Sdn Bhd has slammed Datuk Seri Najib Razak for passing the blame to the board for the misappropriation of RM3.6 billion from the company, saying the accusation was nothing more than an afterthought and without basis.

Former SRC director slams Najib for blaming SRC board for misappropriation of RM3.6b, says his accusation a baseless afterthought

KUALA LUMPUR (May 8): Go Hub Capital Bhd (KL:GOHUB), a provider of information technology (IT) services catering to the transportation sector, said on Wednesday that it has received approval for its listing on the ACE Market of Bursa Malaysia.&nbsp;

IT services firm Go Hub Capital gets Bursa Malaysia nod for ACE Market listing

The emergence of digital banks in Malaysia does not significantly impact traditional banks, primarily due to their limited ability to achieve rapid growth within the initial years of operation.

S&amp;P Global Ratings senior analyst, financial institution ratings, South and Southeast Asia (SSEA), Sue Ong said that the five digital banking licences issued by the Bank Negara Malaysia (BNM) in 2022 do not seem to be a game changer for now.

Wong Ee Lin

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