Capital markets news summary for Mon 13 Mar 2023 Axiata in talks with global investment funds to sell USD1.2b stake in edotco Global infrastructure funds are interested in Southeast Asian telecommunications assets because of strong growth prospects. Axiata – which owns 63% of edotco – is considering even giving majority control to secure the deal….
Capital markets news summary for Fri 10 Mar 2023 BNM keeps OPR at 2.75% As inflation is expected to moderate in 2023 and any price pressures are contained with price controls and subsidies, Bank Negara Malaysia (BNM) decided to keep the overnight policy rate (OPR) unchanged. In 2022, BNM raised the OPR by 1% primarily…
Capital markets news summary for Thu 9 Mar 2023 Astro share price up 22% on privatisation talks Its share price added 13.5 sen to hit an intraday high of 74.5 sen, and later closed at 73 sen. It was the 4th most active counter with trading volume of 72.04m or 12 times its 2-month average…
Capital markets news summary for Wed 8 Mar 2023 Oppstar shares for Malaysian public oversubscribed 77 times The company will be listed on the ACE Market on 15 Mar. It plans to raise RM104.25m in the public share sale of 165.5m shares or 26% of its enlarged capital at 63 sen per share. 31.81m shares…
Capital markets news summary for Tue 7 Mar 2023 Lower inventory keeps palm oil futures high The Mar crude palm oil (CPO) futures contract is trading at RM4,260, a 4-month high. In 2Q2023, CPO futures are expected to remain RM4,200-RM4,700. The market anticipates that Indonesian and Malaysian production will fall. There are several factors which…
Capital markets news summary for Mon 6 Mar 2023 Japan’s Myfarm invests RM210m in PLS Plantations’ durian project Myfarm will purchase 49% of Akar Barat from PLS-LESB for RM181.8m. The durian plantation is on 1,000 hectares of land in Raub, Pahang and is planted with Musang King durian trees aged up to 3 years old….
Capital markets news summary for Fri 3 Mar 2023 LTAT wants to privatise Boustead at 85.5 sen per share Lembaga Tabung Angkatan Tentera (LTAT) has made a voluntary offer for the remaining 822.51m or 40.58% of Boustead shares it does not already own. The offer price is at a 30.5% premium over the last traded…
Capital markets news summary for Thu 2 Mar 2023 Paramount’s 4Q2022 net profit down 22.4% The company earned net profit of RM18.89m compared with RM24.35m in 4Q2021. The fall is in tandem with revenue shrinking by 22.72% from RM317.34m to RM245,24m. This seems to be the trend for most companies as an omen of an…
Capital markets news summary for Wed 1 Mar 2023 Yinson signs 15-year FPSO contract for Angola The company signed the agreement with a subsidiary of Azule Energy, a 50:50 joint venture between BP and Eni. The aggregate value of the contract is USD5.3b over a 15-year period after final acceptance with the option to extend…
Capital markets news summary for Tue 28 Feb 2023 Pharmaniaga’s RM552.3m vaccine provision triggers PN17 The company made the provision for slow moving inventories according to MFRS102 Inventories. Concurrently, it also wrote down the goodwill of the Indonesian units of RM50.3m. As the result, Pharmaniaga posted RM664.39m in net losses for 4Q2022. Revenue increased 21.22%…