Capital markets news | Mon 1 Jul 2024
Equity
- Kucingko fixes IPO price at 30 sen Edge NST Star
- TA Securities underwrites Sik Cheong’s ACE Market IPO Edge Star
- MIDF sees foreign funds returning when ringgit strengthens in 2H NST
- Hextar Industries closed Main Market debut at 44 sen NST
- ASNB announces 5.25 sen distribution for ASB 3 Didik Edge Mail NST Star
- Public Mutual declares RM107m distributions for 5 funds Edge Mail Star
- G3 Global’s 3rd cash call raises eyebrows Star
- China’s AI startups go on Singapore-washing to avoid US sanctions Edge
- High-speed traders, short sellers face growing Asia crackdown Edge
- Auto data firm Solera Corp files for US listing Star
- Investor confidence returns to US IPOs Star
- Robotics start-ups raise USD4.2b in 2024 Edge
- More European money managers are axing oil stocks Star
Debt
- Hong Leong Financial Group and banking entities ratings affirmed RAM
- F&N’s sukuk programmes AAA(cg), MARC-1(cg) ratings affirmed MARC
- Islamic Development Bank’s ratings withdrawn MARC
- Merchantrade’s RM200m programme assigned MARC-1 rating MARC
- Leader Energy’s sukuk AA- rating affirmed MARC
- No quick fix for Felcra’s RM3.67b debt owed to govt NST
- Bank Rakyat to approve RM50m BRIEF-i by Aug NST
- Malaysia’s private non-financial sector credit grew 5.4% in May Star
- Asia’s hot credit market sees record USD1.3t of bonds sales Edge
- SoftBank raises USD1.9b from bonds issuances Edge
- Times China’s debt talks speed up before wind-up hearing Edge
Mergers and acquisitions
- Affin says NTT’s takeover offer for GHL fair and reasonable Edge
- Maxis, CelcomDigi, U Mobile, YTL take 16.3% of DNB each Edge NST Star
- Betamek completes acquisition of car stereo maker Sanshin Edge NST Star
- Jirnexu buys MoneyHero’s Malaysian unit, CompareHero Mail
- Australia approves ANZ’s USD3.3b buyout of Suncorp Bank Edge
- Nokia buys US-based network equipment maker Infinera for USD2.3b Edge
- Dealmakers optimistic on global M&A prospects despite sluggish growth Edge
- Private equity sees hope for M&A recovery Star
- Merger offers hope to active fund management Star
Projects and business
- SNS gets RM86mil order for AI super servers Star
- Haily bags RM54m residential construction job in Johor Edge Star
- Coastal Contracts bags RM64m liftboat charter contract extension Edge
- Globaltec signs HOA to sell natural gas to Indonesian company Edge
- Uzma, Finnish firm ReOrbit explore space satellite solutions Edge
- Kawan Renergy gets RM11.8m bioethanol plant conversion contract Edge Star
- Hynix to invest RM352b by 2028 in AI, chips Mail
- Qatar plans tourism project worth USD5.5b Star
Economy and market news
- Robots in Malaysian plantations reduce foreign labour dependence Edge
- Malaysia was 5th largest LNG exporter in 2023 Edge Mail Star
- Malaysia’s export prices rise 0.7% in May 2024 Mail Star
- Malaysia’s international reserves USD113.59b at end-May Mail Star
- Thailand’s economy grew more slowly in May Mail
- Vietnam’s economy expanded 6.4% in 1H Mail
- China factory activity contracts for 2nd straight month, PMI at 49.5 in Jun Mail
- Beijing and other big cities lead housing recovery Star
- Tokyo’s inflation at 2.1%, keeps BOJ rate hike prospects alive NST Star
- US Fed’s favoured inflation measure cools slightly in May Mail
- IMF lowers US economic growth forecast for 2024 to 2.6% Mail
- UK exits recession with 0.7% growth in 1Q Mail Star
Legal and policies
- UEM Sunrise to appeal RM74m additional tax, penalty paid to IRB Edge
- Revive Malaysia-EU free trade agreement Star
- Revisiting single-tier tax on dividends Star
- Russian goods appear in Singapore markets Edge
- Indonesia plans import duties on clothing, ceramics Edge
- China’s rare earth regulations to further protect domestic supply Star
- Visa, Mastercard can handle more than USD30b settlement Edge
- EU targets AI deals between tech giants Edge Mail
- Italy claims EUR1b unpaid taxes from Google Edge
