Capital markets news | Tue 19 Mar 2024

Equity

• JAG controls 62.72% of KUB following MGO Star NST Edge
• SBH Marine to raise RM39.6m from IPO for business expansion Star Edge
• Zantat IPO oversubscribed 130.15 times Star Edge
• EPF commits RM250m to mid-to-growth stage companies Star NST Mail Edge
• Net foreign outflow moderates to RM415.1m on Bursa Malaysia Star NST Mail Edge
• GFM Services proposes one-for-two bonus issue of warrants Edge
• New Hoong Fatt proposes one-to-two share split to improve liquidity Edge
• Ninja Van holds off IPO until profitability improves Edge
• Pfizer to cut stake in Sensodyne toothpaste-maker Haleon to 24% Edge

Debt

• Malaysian bonds beat emerging Asia peers as ringgit bounces back Edge
• Malaysian banks can withstand profitability pressures RAM

Mergers and acquisitions

• Ge-Shen buys 60% of ARD and ATSCM for RM13.5m cash Star
• Oil company Q8 to buy 50% of biodiesel producer Star
• Dubai real estate developers in merger plan Star
• Vietnam’s Vingroup sells 41.5% of Vincom Retail plus assets for USD1.6b Edge
• Aviva sells Singlife joint venture stake for USD1.2b Edge
• Saudi wealth fund in talks to buy national airline Edge

Projects and business

• TT Vision ties up with Autowell Singapore on manufacturing hub Star Edge
• Epicon gets RM191m building job Star Edge
• MAHB and government extend operating agreements to 2069 Star Edge
• Itmax bags RM77.09m contract from Kulai Municipal Council Star NST Edge
• Sakura Ferroalloys to build RM1.41b sinter plant in Bintulu Star
• QES building RM40m plant in Penang Edge
• TSMC considering advanced chip packaging capacity in Japan Star Edge
• Apple in talks for Google’s Gemini to power iPhone AI Mail Edge
• EV maker Fisker stops production, warns of bankruptcy Edge
• Struggling top solar firm Longi plans thousands of job cuts Edge

Economy and market news

• Malaysia’s Feb exports slip to RM111.33b amid improving total trade Star Mail
• TalentCorp allocates RM30m internship matching grant Edge
• Soybean oil futures now listed on Bursa Malaysia Derivatives Star Edge
• Malaysia Productivity Corporation launches Productivity Grant Edge
• China Jan-Feb industrial output, retail sales beat expectations Star Mail
• Hong Kong has 2,700 single family offices in wealth hub boost Edge
• Global commodity trading profits exceeded USD100b, 2^nd best year Edge

Legal and policies

• BNM takes prudent approach on high household debt Star
• Trump threatens 100% tariffs on Chinese cars Star
• SEC sues two firms for bogus AI claims Edge