Capital markets news | Fri 26 Jul 2024

Equity

  • Iqzan to be delisted on 30 Jul after Bursa dismisses extension Edge
  • Mlabs Systems’ rights issue undersubscribed 0.37% Edge
  • Alibaba backs USD2.8b firm in 3rd major AI deal of 2024 Edge
  • Crowded TSMC trade drives funds to AI bets in South Korea Edge
  • Musk to discuss USD5b xAI investment with Tesla board Edge

Debt

  • SEP Resources’ SRI sukuk assigned AA1 preliminary rating RAM
  • Public Bank issues RM1.5b subordinated notes Edge
  • Pesona Metro plans to establish RM185m sukuk programme Edge Star
  • Qilu Bank steps up to aid green projects in China Star

Mergers and acquisitions

  • CapitaLand pressured to cut office sale price Edge
  • Singapore’s Cyan buys Australia’s MMA Offshore for AUD1.1b Edge
  • Trump’s VP won’t make M&A great again Edge

Projects and business

  • SCIB accepts RM162m contract in Perak Edge NST Star
  • Jaks inks land lease MOU with TDM for LSS5 project Edge NST
  • French semiconductor firm Weeroc to start ops by 2025 Edge
  • AZRB gets RM152m Port Dickson specialist hospital contract Edge NST Star
  • NBA signs broadcasting deal worth USD77b Star

Economy and market news

  • Malaysia’s nominal GDP for 2023 was RM1.8t Edge Star
  • Malaysia’s leading index up 3.8% in May Star
  • InvestKL says RM3.3b investment secured in 1H Edge NST
  • 8 companies win Bursa’s 1st carbon credit auction from Kuamut Edge Star
  • Selangor has room for more data centres NST
  • Selangor attracts RM12.4b investments in 1Q Star
  • Khazanah says housing market seriously unaffordable NST
  • Singapore seen holding monetary policy, easing eyed in 2025 Edge
  • Indonesia launches Golden Visa to lure foreign investors Edge Mail
  • China cuts medium-term lending facility rate from 2.5% to 2.3% Star
  • Insured losses from CrowdStrike outage could reach USD1.5b Edge
  • 1% of global rich gained USD42t new wealth in past decade Edge

Legal and policies

  • Federal auditors can now audit companies with govt guarantees Edge
  • Annum appoints Parker Russell for independent review of financials Edge
  • Meta to be hit with EU antitrust fine for linking Marketplace, Facebook Edge
  • UBS questioned by US senator over USD350m tax evasion case Edge
  • Boeing finalises 737 MAX guilty plea deal, US outlines reasons Edge
  • Coinbase unit fined by UK for taking on high-risk customers Edge
  • G-20 finance chiefs punt on billionaire tax in draft communique Edge

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