Capital markets executive summary | Tue 9 May 2023 Hartalega to decommission Bestari Jaya facility Once one of the stock market’s darlings during Covid with its share price peaking at RM20.28 on 30 Jul 2020, the company now makes the painful decision to decommission 4 plants with 40 production lines accounting for 30% of total…
Capital markets executive summary | Mon 8 May 2023 F&N records net profit of RM102m for 2Q2023 The figure rose 8.6% from RM93.9m in 2Q2022 ended 31 Mar 2023. Revenue climbed 8.9% from RM1.1b to RM1.2b. For 1H2023, net profit surged 60.5% from RM186.8m to RM299.8m, while revenue increased by 9.5% from RM2.21b to RM2.42b….
Capital markets executive summary | Fri 5 May 2023 Petronas to invest USD4.1b in Tamil Nadu The state government has given its approval for Petronas to build a green hydrogen and ammonia plant at the Cabinet meeting chaired by chief minister MK Stalin in Chennai on 3 May. Petronas has a number of businesses in…
Capital markets executive summary | Wed 3 May 2023 Mulpha’s Australian unit secures AUD160m green construction facility Mulpha Norwest Quarter Development Pty Ltd accepted the syndicated facility from Australia and New Zealand Banking Group Ltd and Clean Energy Finance Corporation. The facility will be used to finance the construction of Stage 1 of Norwest Quarter…
Capital markets executive summary | Tue 2 May 2023 PGF Capital net profit up 700% The insulation products manufacturer recorded net profit of RM16.4m in the financial year ended 28 Feb 2023 compared to RM1.9m the prior year. This included a RM10.7m reversal of impairment on development properties offset by RM3m elimination of unrealised profit…
Capital markets executive summary | Fri 28 Apr 2023 Boost considers up to USD100m fundraising round Boost Holdings Sdn Bhd – a unit of Axiata Group Berhad, Malaysia’s biggest wireless firm by revenue – has engaged a financial adviser. The fundraising is expected to raise USD50m-USD100m (RM223m-RM446m) thereby giving the start-up a valuation of several…
Capital markets executive summary | Thu 27 Apr 2023 Mitsui emerges as substantial shareholder of LGMS LGMS Berhad – the 1st Bursa-listed cybersecurity services company – debuted on the ACE Market on 8 Jun 2022 at 50 sen. The share price peaked at RM1.41 in Sep 2022. Mitsui holds 114m shares or 25% after having…
Capital markets executive summary | Wed 26 Apr 2023 Tokio Marine plans USD1b sale of Southeast Asian business The Tokyo-listed insurer was founded in 1879 and now offers life and non-life insurance in 47 countries. Its international business contributes 54% to profits. In Asia, it runs 8 property and casualty insurance companies and 5 life…
Capital markets executive summary | Tue 25 Apr 2023 MKH Oil Palm to offer 250.7m shares in IPO PT Maju Kalimantan Hadapan (PT MKH) and PT Sawit Prima Sakti (PT SPS) – subsidiaries of MKH Oil Palm (East Kalimantan) Bhd (MKH Oil Palm) own 18,205 hectares in Kutai Kartanegara, East Kalimantan, Indonesia. The shares represent…
Capital markets executive summary | Thu 20 Apr 2023 Cahya Mata Sarawak’s outlook revised to positive While RAM Ratings affirmed the company’s AA3 and P1 corporate credit ratings, the outlook was raised from stable to positive due to improving business and financial profiles. In particular, the new phosphates manufacturing division started commissioning production and would…