Capital markets news | Tue 25 Jun 2024
Equity
- Johor Plantations’ IPO price fixed at 84 sen Edge
- TA values Johor Plantations at RM1.06, 14 times PER Edge
- Go Hub’s IPO oversubscribed 78.7 times Edge NST Star
- Ocean Fresh’s IPO oversubscribed 76.22 times Edge Star
- VS Industry plans 1-for-10 bonus issue of warrants Edge Star
- Foreign funds net sold RM441m equities last week Edge Mail NST Star
- China lured USD2.3b of Middle East sovereign money in 2023 Edge
- China’s Urban Revivo mulls IPO in Hong Kong Edge
- Shein filed for London listing in early Jun Edge Mail
- Traders use technical analysis over Nvidia’s 13% stock plunge Edge
Debt
- Avaland’s proposed sukuk assigned AA3 rating RAM
- Peps-JV Melaka’s RM20m investment notes assigned R3 rating RAM
- 7-Eleven’s MTN programme AA- rating affirmed MARC
- Nazir Razak’s Ikhlas Capital invests USD40m in Food Empire Edge NST
- China’s AAA sovereign rating affirmed MARC
- After bailout success, China expands debt support to another city Edge
- Moody’s won’t downgrade Japan if FY2025 fiscal target missed Edge
- International General Insurance insurer financial strength rating withdrawn MARC
- Hedge funds bet on high-risk catastrophe bonds Star
Mergers and acquisitions
- Sunway buys remaining 70% of prefabricated home builder for RM25.5m Edge Star
- Eurospan’s MGO at RM1.70 fair and reasonable Edge
- MAHB aborts plan to sell Istanbul airport stake to Turkish firm Edge
- UBS to sell partial stake of JV to Beijing state asset manager Edge
- PepsiCo gives blessing for takeover of UK bottler Britvic Edge
Projects and business
- Govt to negotiate terms for Bestinet’s 3-year contract extension Edge
- Systech enters partnership to develop data centres Edge Star
- Hibiscus Petroleum’s associate inks gas sale with ConocoPhillips Edge
- Solarvest, GreenRock to develop 1GW green energy Edge NST Star
- Kinergy, Permodalan Kedah sign MOU for sustainable energy projects Edge Star
- Nord-Lock moves SEA, Taiwan regional office to KL from Singapore NST
- QL Resources’ Axrail unveils SEA’s 1st generative AI lab in Malaysia NST
- China’s ByteDance, Broadcom to develop advanced AI chip Edge
- CATL, Rolls-Royce tie up to market Tener energy storage system Star
Economy and market news
- Naive to use WCR, other rankings for investment decisions NST
- Malaysia, APAC exporters, emerging markets outperforming Edge Star
- Malaysia must move upstream, horizontally to grow semiconductor exports NST
- BNM’s reserves rise to USD114.1b NST Star
- RHB raises 2024 TIV forecast by 18% on Perodua strength Edge Mail
- Singapore May core inflation at 3.1% Star
- Indonesian economy to grow 5%-5.1% in next 2 years Mail
- Indonesia will keep fiscal metrics under legislated limits Star
- Hedge funds’ bullish copper bets run into China’s slowdown Star
- Key US inflation gauges may offer path to rate cuts Star
Legal and policies
- EA Technique shareholders approve white knight, regularisation plan Edge NST Star
- EUDR to have significant impact on Malaysian palm oil, rubber Star
- China wants EU tariffs on EVs gone by 4 Jul as talks resume Mail
- MUFG penalised by Japan’s regulator for breaching client info Edge
- EU fines IFF for deleting WhatsApp over suspected fragrance cartel Mail
- Canada might impose import tariffs on Chinese EVs Mail
