Economists positive on Johor-S'pore Special Economic Zone, but call for clarity on tax incentives and infrastructure progress
https://theedgemalaysia.com/node/740171
https://theedgemalaysia.com/node/740171
The Edge Malaysia
Economists positive on Johor-S'pore Special Economic Zone, but call for clarity on tax incentives and infrastructure progress
The Johor-Singapore Special Economic Zone (JS-SEZ) holds significant potential to boost employment in Johor, but economists stressed the need for clarity on tax incentives and the development of necessary infrastructure as crucial factors for the zone's attractiveness…
Forwarded from CGS International Securities Malaysia
*Corporate news*
KWAP, and its affiliates have disposed of 119.3m shares, or a 7.2% stake in *Malaysia Airports Holdings Bhd* (MAHB), pursuant to the takeover offer by Gateway Development Alliance Sdn Bhd (GDA). According to MAHB’s filing with Bursa Malaysia, the shares were disposed of on 6 Jan, at RM11 apiece. (The Edge Malaysia)
*ITMAX System Bhd* said on Tuesday 7 Jan that it has secured a second contract worth RM11.8m from the Penang Island City Council, to deliver video surveillance services. (The Edge Malaysia)
*Infomina Bhd* has secured a three-year contract worth RM22.4m from the Road Transport Department to provide maintenance and support for the Automated Awareness Safety System. (The Edge Malaysia)
*UUE Holdings Bhd*, via its wholly owned subsidiary Kum Fatt Engineering Sdn Bhd, has secured contract extensions and renewals worth a total of about RM36.5m from Komasi Engineering Sdn Bhd. The contracts cover underground cable installation and commissioning works within *Tenaga Nasional Bhd*’s distribution network. (The Edge Malaysia)
*Nestcon Bhd*’s wholly owned subsidiary Nestcon Infra Sdn Bhd (NISB) has secured a RM25.0m contract for earthworks and erosion control in Johor’s Senai Airport City. (The Edge Malaysia)
Agribusiness firm *FGV Holdings Bhd* has signed an agreement with the Malaysian Palm Oil Board (MPOB), to increase awareness and provide comprehensive support to independent smallholders in meeting global sustainability standards and regulations. (The Edge Malaysia)
*Swift Haulage Bhd* has announced plans to expand into cold chain logistics to diversify its revenue streams through a JV investment. The company signed a JV agreement with its major shareholder, Singapore-based JWD Asia Holding Pte Ltd (JAH), to establish Swift Cold Chain Sdn Bhd, which will operate and manage a temperature-controlled warehouse and transport business. (The Edge Malaysia)
*Cypark Resources Bhd* said on Tuesday 7 Jan that it has achieved the commercial operation date (COD) for one of its two 60MW floating solar plants at Danau Tok Uban (DTU), Kelantan. In a statement, Cypark said that the water body, dubbed DTU2, with a generation capacity of 30MW, has been confirmed by the single buyer, which is Tenaga Nasional Bhd, as ready for commercial operations. (The Edge Malaysia)
National oil and gas company *Petronas*, said on Tuesday 7 Jan it is embarking on a study to explore untapped resources in the Malay Basin off the coast of Peninsular Malaysia. (The Edge Malaysia)
*EA Technique (M) Bhd* said on Tuesday 7 Jan that it will get an undisclosed payoff as part of an amicable settlement with national oil-and-gas company Petronas over the lease of a floating storage unit vessel. (The Edge Malaysia)
*KUB Malaysia Bhd* is acquiring a building materials company from *CI Holdings Bhd* in a related party transaction deal for RM20m cash, as part of the group's strategy to broaden its revenue base. (The Edge Malaysia)
Target 1 Sdn Bhd — one of the parties seeking to take *South Malaysia Industries Bhd* private said on Tuesday that the Securities Commission Malaysia (SC) has approved a further extension for the despatch of its offer document to SMI shareholders. The extension allows Target 1, and the parties acting in concert, to deliver the mandatory takeover offer documentation by 14 Jan, an extension by seven days from the deadline of 7 Jan previously. (The Edge Malaysia)
Directors of *MN Holdings Bhd* trim their stake as the share price has surged to a record high recently. The company’s MD Datuk Toh Eng Keat, plus two executive directors Datuk Loy Siong Hay and Datuk Dang Siong Diang, have collectively sold 18m shares, equivalent to a 3.7% stake, to institutional funds via a direct business deal, according to the company’s bourse filing. (The Edge Malaysia)
*8th Jan 2025*
Disclaimers: This distribution is by CGS International Securities Malaysia Sdn. Bhd. (“CGS MY”) in Malaysia only. The views are our own as of this date and subject to change.
KWAP, and its affiliates have disposed of 119.3m shares, or a 7.2% stake in *Malaysia Airports Holdings Bhd* (MAHB), pursuant to the takeover offer by Gateway Development Alliance Sdn Bhd (GDA). According to MAHB’s filing with Bursa Malaysia, the shares were disposed of on 6 Jan, at RM11 apiece. (The Edge Malaysia)
*ITMAX System Bhd* said on Tuesday 7 Jan that it has secured a second contract worth RM11.8m from the Penang Island City Council, to deliver video surveillance services. (The Edge Malaysia)
*Infomina Bhd* has secured a three-year contract worth RM22.4m from the Road Transport Department to provide maintenance and support for the Automated Awareness Safety System. (The Edge Malaysia)
*UUE Holdings Bhd*, via its wholly owned subsidiary Kum Fatt Engineering Sdn Bhd, has secured contract extensions and renewals worth a total of about RM36.5m from Komasi Engineering Sdn Bhd. The contracts cover underground cable installation and commissioning works within *Tenaga Nasional Bhd*’s distribution network. (The Edge Malaysia)
*Nestcon Bhd*’s wholly owned subsidiary Nestcon Infra Sdn Bhd (NISB) has secured a RM25.0m contract for earthworks and erosion control in Johor’s Senai Airport City. (The Edge Malaysia)
Agribusiness firm *FGV Holdings Bhd* has signed an agreement with the Malaysian Palm Oil Board (MPOB), to increase awareness and provide comprehensive support to independent smallholders in meeting global sustainability standards and regulations. (The Edge Malaysia)
*Swift Haulage Bhd* has announced plans to expand into cold chain logistics to diversify its revenue streams through a JV investment. The company signed a JV agreement with its major shareholder, Singapore-based JWD Asia Holding Pte Ltd (JAH), to establish Swift Cold Chain Sdn Bhd, which will operate and manage a temperature-controlled warehouse and transport business. (The Edge Malaysia)
*Cypark Resources Bhd* said on Tuesday 7 Jan that it has achieved the commercial operation date (COD) for one of its two 60MW floating solar plants at Danau Tok Uban (DTU), Kelantan. In a statement, Cypark said that the water body, dubbed DTU2, with a generation capacity of 30MW, has been confirmed by the single buyer, which is Tenaga Nasional Bhd, as ready for commercial operations. (The Edge Malaysia)
National oil and gas company *Petronas*, said on Tuesday 7 Jan it is embarking on a study to explore untapped resources in the Malay Basin off the coast of Peninsular Malaysia. (The Edge Malaysia)
*EA Technique (M) Bhd* said on Tuesday 7 Jan that it will get an undisclosed payoff as part of an amicable settlement with national oil-and-gas company Petronas over the lease of a floating storage unit vessel. (The Edge Malaysia)
*KUB Malaysia Bhd* is acquiring a building materials company from *CI Holdings Bhd* in a related party transaction deal for RM20m cash, as part of the group's strategy to broaden its revenue base. (The Edge Malaysia)
Target 1 Sdn Bhd — one of the parties seeking to take *South Malaysia Industries Bhd* private said on Tuesday that the Securities Commission Malaysia (SC) has approved a further extension for the despatch of its offer document to SMI shareholders. The extension allows Target 1, and the parties acting in concert, to deliver the mandatory takeover offer documentation by 14 Jan, an extension by seven days from the deadline of 7 Jan previously. (The Edge Malaysia)
Directors of *MN Holdings Bhd* trim their stake as the share price has surged to a record high recently. The company’s MD Datuk Toh Eng Keat, plus two executive directors Datuk Loy Siong Hay and Datuk Dang Siong Diang, have collectively sold 18m shares, equivalent to a 3.7% stake, to institutional funds via a direct business deal, according to the company’s bourse filing. (The Edge Malaysia)
*8th Jan 2025*
Disclaimers: This distribution is by CGS International Securities Malaysia Sdn. Bhd. (“CGS MY”) in Malaysia only. The views are our own as of this date and subject to change.
Forwarded from CGS International Securities Malaysia
*Trading Stocks today:*
For *Trendspotter*, please click on this link: < https://tinyurl.com/3x3w5dr7 > to view the report.
Or please logon to your account on http://www.cgsi.com.my/ and click on <Research> Tab.
*Malaysia*:
*Sunway Construction Group (5263)* (RM5.12): Technical Buy
Targets: RM5.45, RM5.66
Stop: RM4.62
*ITMAX System (5309)* (RM3.80): Technical Buy
Targets: RM4.02, RM4.18
Stop: RM3.56
*Fundamental Report(s):*
*Oriental Kopi Holdings IPO* - A potent recipe for growth (Trading Lens - Non-rated) https://tinyurl.com/mwu8m5u
Join CGS International Securities Malaysia's Official Telegram Channel https://t.me/cgsi_my
*8th Jan 2025*
Disclaimers: This distribution is by CGS International Securities Malaysia Sdn. Bhd. (“CGS MY”) in Malaysia only. The views are our own as of this date and subject to change. No further distribution is allowed without our prior written consent. CGS MY, its related corporations, affiliates and business partners make no recommendation, offer or invitation to transact in any securities, futures contracts or other instruments. Please make your independent evaluation, consider your own investment objectives and financial situation and consult your own professional advisers before participating in any transaction.
For *Trendspotter*, please click on this link: < https://tinyurl.com/3x3w5dr7 > to view the report.
Or please logon to your account on http://www.cgsi.com.my/ and click on <Research> Tab.
*Malaysia*:
*Sunway Construction Group (5263)* (RM5.12): Technical Buy
Targets: RM5.45, RM5.66
Stop: RM4.62
*ITMAX System (5309)* (RM3.80): Technical Buy
Targets: RM4.02, RM4.18
Stop: RM3.56
*Fundamental Report(s):*
*Oriental Kopi Holdings IPO* - A potent recipe for growth (Trading Lens - Non-rated) https://tinyurl.com/mwu8m5u
Join CGS International Securities Malaysia's Official Telegram Channel https://t.me/cgsi_my
*8th Jan 2025*
Disclaimers: This distribution is by CGS International Securities Malaysia Sdn. Bhd. (“CGS MY”) in Malaysia only. The views are our own as of this date and subject to change. No further distribution is allowed without our prior written consent. CGS MY, its related corporations, affiliates and business partners make no recommendation, offer or invitation to transact in any securities, futures contracts or other instruments. Please make your independent evaluation, consider your own investment objectives and financial situation and consult your own professional advisers before participating in any transaction.
Forwarded from CGS International Securities Malaysia
*Oriental Kopi Holdings IPO – A potent recipe for growth* (Trading Lens- Non-rated) https://tinyurl.com/mwu8m5u
☕️🍜Oriental Kopi Holdings (OKH) is a homegrown café-chain operator with its first _“Oriental Kopi”_ café established in Johor in 2020. To-date, OKH has established 20 _“Oriental Kopi”_ outlets in Malaysia, including the newly-opened outlet in Sarawak and its first jointly-owned overseas outlet in Singapore (30%-stake).
*Is the company profitable?*
◾️The group posted a commendable 3-year revenue CAGR of 280% in FY21-24, supported by both café chain operations (+275%) and distribution of consumer-branded packaged foods (505%). The group’s 3-year average GP and net profit margins stood at 31% and 17% respectively in FY22-24.
◾️FY24 net profit surged by a robust +115% yoy to RM43m – a record high, in line with the +118% yoy growth in revenue. Key factor attributable to the higher number of cafés in operations (17 outlets in FY24 vs. 11 outlets in FY23), coupled with higher average revenue per store of RM15.3m in FY24 (+34% yoy vs. RM11.5m in FY23).
◾️Notably, Klang Valley region achieved the highest average revenue per store at RM16.4m in FY24 (+26% yoy) as compared to Johor - RM14.7m (+68% yoy) and Penang - RM6.4m (first outlet incorporated in FY24).
*Key growth drivers*:
1) Café chain expansion both locally and regionally,
2) Improve retail and tourism footfall, and
3) Higher margin product mix.
*Valuation?*
🔸The IPO price of RM0.44 (RM880m market cap) values Oriental Kopi Holdings at FY24 P/E of 20.4x – 11% discount to its peers’ average 12-month trailing P/E of 23x (see front page). Meanwhile, KLCSU FY24 P/E stands at 14.5x, according to Bloomberg.
⏳The closing date for the IPO application will be on 10 January 2025. The group will be listed on the ACE Market on 23 January 2025.
Regards,
CGS MY Retail Research
☕️🍜Oriental Kopi Holdings (OKH) is a homegrown café-chain operator with its first _“Oriental Kopi”_ café established in Johor in 2020. To-date, OKH has established 20 _“Oriental Kopi”_ outlets in Malaysia, including the newly-opened outlet in Sarawak and its first jointly-owned overseas outlet in Singapore (30%-stake).
*Is the company profitable?*
◾️The group posted a commendable 3-year revenue CAGR of 280% in FY21-24, supported by both café chain operations (+275%) and distribution of consumer-branded packaged foods (505%). The group’s 3-year average GP and net profit margins stood at 31% and 17% respectively in FY22-24.
◾️FY24 net profit surged by a robust +115% yoy to RM43m – a record high, in line with the +118% yoy growth in revenue. Key factor attributable to the higher number of cafés in operations (17 outlets in FY24 vs. 11 outlets in FY23), coupled with higher average revenue per store of RM15.3m in FY24 (+34% yoy vs. RM11.5m in FY23).
◾️Notably, Klang Valley region achieved the highest average revenue per store at RM16.4m in FY24 (+26% yoy) as compared to Johor - RM14.7m (+68% yoy) and Penang - RM6.4m (first outlet incorporated in FY24).
*Key growth drivers*:
1) Café chain expansion both locally and regionally,
2) Improve retail and tourism footfall, and
3) Higher margin product mix.
*Valuation?*
🔸The IPO price of RM0.44 (RM880m market cap) values Oriental Kopi Holdings at FY24 P/E of 20.4x – 11% discount to its peers’ average 12-month trailing P/E of 23x (see front page). Meanwhile, KLCSU FY24 P/E stands at 14.5x, according to Bloomberg.
⏳The closing date for the IPO application will be on 10 January 2025. The group will be listed on the ACE Market on 23 January 2025.
Regards,
CGS MY Retail Research
Forwarded from UOB Kay Hian Malaysia (Official)
UOBKH Retail Market Monitor
8 January 2025
FBMKLCI: 1,629.79 (+4.32)
Support: 1,613, 1,600
Resistance: 1,648, 1,675
Bursa Top Gainers:
GAMUDA (+7.0%), SUNWAY (+2.8%), SDG (+2.6%)
Bursa Top Losers:
AXIATA (-2.5%), TENAGA (-1.8%), 99SMART (-1.7%)
Bursa Trade Statistics
Local Institutions (41.67%): RM144.63m
Local Retail (18.83%): -RM38.31m
Foreign (39.50%): -RM106.32m
Global Equity Indexes
MSCI Asia : 181.97 (+0.64, +0.35%)
NASDAQ : 19,489.68 (-375.30, -1.89%)
S&P500 : 5,909.03 (-66.35, -1.11%)
DJIA : 42,528.36 (-178.20, -0.42%)
USD/MYR : 4.4875 (-0.0238)
SGD/MYR : 3.3006 (0.00)
Crude Oil : $74.66 (+0.41)
Gold : $2,663.70 (-1.70)
US stocks were lower after the close on Tuesday, as losses in the Technology, Consumer Goods and Telecoms sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average declined 0.42%, while the S&P 500 index lost 1.10%, and the NASDAQ Composite index fell 1.88%. Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1,832 to 976 and 64 ended unchanged; on the Nasdaq Stock Exchange, 2,187 fell and 1,100 advanced, while 134 ended unchanged. (Source: Investing.com)
Stocks To Watch:
1) HTPADU (KLSE: 5028)
Technical BUY with +25.5% potential return
* Last: RM3.18 TP: RM3.67, RM3.99 SL: RM2.99
* Timeframe: 2 weeks to 2 months
* Shariah: YES
2) PPHB (KLSE: 8273)
Technical BUY with +13.2% potential return
* Last: RM0.835 TP: RM0.895, RM0.945 SL: RM0.775
* Timeframe: 2 weeks to 2 months
* Shariah: YES
3) DPHARMA (KLSE: 7148)
Technical BUY with +12.5% potential return
* Last: RM1.28 TP: RM1.38, RM1.44 SL: RM1.21
* Timeframe: 2 weeks to 2 months
* Shariah: YES
Join UOB Kay Hian Malaysia's Official Telegram Channel
https://t.me/UOBKayHianMalaysia
Disclaimer:
This material is a service for investors and does not represent a buy or sell call. Usage of this information is at your own risk. You are advised to conduct your own independent evaluation, due diligence and risk assessment before investing. We accept no liability whatsoever for any direct or consequential loss arising from any use of this information.
For the full research report, please log in to www.utrade.com.my
8 January 2025
FBMKLCI: 1,629.79 (+4.32)
Support: 1,613, 1,600
Resistance: 1,648, 1,675
Bursa Top Gainers:
GAMUDA (+7.0%), SUNWAY (+2.8%), SDG (+2.6%)
Bursa Top Losers:
AXIATA (-2.5%), TENAGA (-1.8%), 99SMART (-1.7%)
Bursa Trade Statistics
Local Institutions (41.67%): RM144.63m
Local Retail (18.83%): -RM38.31m
Foreign (39.50%): -RM106.32m
Global Equity Indexes
MSCI Asia : 181.97 (+0.64, +0.35%)
NASDAQ : 19,489.68 (-375.30, -1.89%)
S&P500 : 5,909.03 (-66.35, -1.11%)
DJIA : 42,528.36 (-178.20, -0.42%)
USD/MYR : 4.4875 (-0.0238)
SGD/MYR : 3.3006 (0.00)
Crude Oil : $74.66 (+0.41)
Gold : $2,663.70 (-1.70)
US stocks were lower after the close on Tuesday, as losses in the Technology, Consumer Goods and Telecoms sectors led shares lower. At the close in NYSE, the Dow Jones Industrial Average declined 0.42%, while the S&P 500 index lost 1.10%, and the NASDAQ Composite index fell 1.88%. Falling stocks outnumbered advancing ones on the New York Stock Exchange by 1,832 to 976 and 64 ended unchanged; on the Nasdaq Stock Exchange, 2,187 fell and 1,100 advanced, while 134 ended unchanged. (Source: Investing.com)
Stocks To Watch:
1) HTPADU (KLSE: 5028)
Technical BUY with +25.5% potential return
* Last: RM3.18 TP: RM3.67, RM3.99 SL: RM2.99
* Timeframe: 2 weeks to 2 months
* Shariah: YES
2) PPHB (KLSE: 8273)
Technical BUY with +13.2% potential return
* Last: RM0.835 TP: RM0.895, RM0.945 SL: RM0.775
* Timeframe: 2 weeks to 2 months
* Shariah: YES
3) DPHARMA (KLSE: 7148)
Technical BUY with +12.5% potential return
* Last: RM1.28 TP: RM1.38, RM1.44 SL: RM1.21
* Timeframe: 2 weeks to 2 months
* Shariah: YES
Join UOB Kay Hian Malaysia's Official Telegram Channel
https://t.me/UOBKayHianMalaysia
Disclaimer:
This material is a service for investors and does not represent a buy or sell call. Usage of this information is at your own risk. You are advised to conduct your own independent evaluation, due diligence and risk assessment before investing. We accept no liability whatsoever for any direct or consequential loss arising from any use of this information.
For the full research report, please log in to www.utrade.com.my
Telegram
UOB Kay Hian Malaysia (Official)
UOB Kay Hian MY offers Private Wealth Management, stockbroking, investment advisory and global equities. Helping individuals, businesses, and institutions invest with confidence.
Link in bio
https://linktr.ee/UOBKayHianMalaysia
Link in bio
https://linktr.ee/UOBKayHianMalaysia
Forwarded from Discontinued Channel
Stock Watch-SET_20250108_HLIB.pdf
688.1 KB
⭐ Swift Energy Technology ⭐
An explosive proof expert
Debuting today on the ACE Market, SET specializes in industrial automation and power systems, focusing on niche areas such as Ex-rated power distribution systems and Ex-solar PV solutions. These systems are primarily used in the O&G sector, as well as in the manufacturing of grain products, edible oils, and food processing. This strategic positioning enables the group to capitalize on the growing O&G investments in SEA and the expanding food processing industries in the Asia-Pacific and African regions. We project SET's earnings to achieve a CAGR of 13.1% for FY24-FY27f. We value SET at RM0.42, based on 20.0x FY25f EPS of 2.1sen.
An explosive proof expert
Debuting today on the ACE Market, SET specializes in industrial automation and power systems, focusing on niche areas such as Ex-rated power distribution systems and Ex-solar PV solutions. These systems are primarily used in the O&G sector, as well as in the manufacturing of grain products, edible oils, and food processing. This strategic positioning enables the group to capitalize on the growing O&G investments in SEA and the expanding food processing industries in the Asia-Pacific and African regions. We project SET's earnings to achieve a CAGR of 13.1% for FY24-FY27f. We value SET at RM0.42, based on 20.0x FY25f EPS of 2.1sen.
Technical Tracker_Notion 20250108_HLIB.pdf
704.8 KB
⭐️Technical tracker ⭐️- HLIB Retail Research -8 Jan 2025
Notion: Pending breakout
FY25 will primarily be driven by the EMS and Automotive segments, with the former serving as the key growth driver. The group is currently ramping up mass production for two additional motor components. Meanwhile, the automotive segment is set to benefit from the commencement of two new projects, alongside stronger sales from existing customers.
Collection range: RM1.26-1.30-1.35
Upside targets: RM1.59-1.65-1.75
Cut loss: RM1.18
Please join us on HLeBroking telegram channel: https://t.me/joinchat/qaZOqmjEU0k4ZGVl
Disclaimer: www.hlebroking.com/v3/disclaimer.as
Notion: Pending breakout
FY25 will primarily be driven by the EMS and Automotive segments, with the former serving as the key growth driver. The group is currently ramping up mass production for two additional motor components. Meanwhile, the automotive segment is set to benefit from the commencement of two new projects, alongside stronger sales from existing customers.
Collection range: RM1.26-1.30-1.35
Upside targets: RM1.59-1.65-1.75
Cut loss: RM1.18
Please join us on HLeBroking telegram channel: https://t.me/joinchat/qaZOqmjEU0k4ZGVl
Disclaimer: www.hlebroking.com/v3/disclaimer.as
Top Glove anticipates strong rebound in 2Q
https://www.thestar.com.my/business/business-news/2025/01/08/top-glove-anticipates-strong-rebound-in-2q
https://www.thestar.com.my/business/business-news/2025/01/08/top-glove-anticipates-strong-rebound-in-2q
The Star
Top Glove anticipates strong rebound in 2Q
PETALING JAYA: Top Glove Corp Bhd is optimistic of a strong sequential rebound in earnings recovery for the second quarter of financial year 2025 (2Q25), says Kenanga Research.
Market Update : Could be triggered by the volatile Donald Trump's statement and it is affecting the sentiment globally.
President-elect Donald Trump has recently reignited controversies involving Greenland and the Panama Canal, eliciting significant international reactions.
Source : M+ Analyst
President-elect Donald Trump has recently reignited controversies involving Greenland and the Panama Canal, eliciting significant international reactions.
Source : M+ Analyst
Forwarded from M+ On-The-Go
M+ Morning Market Buzz - 9Jan25
Dow Jones: 42,635.20 pts (+106.84pts, +0.25%)
⬆️ Resistance: 44000
⬇️ Support: 41400
FBM KLCI: 1,614.83 pts (-14.96pts, -0.92%)
⬆️ Resistance: 1680
⬇️ Support: 1590
HSI Index: 19,279.84 pts (-167.74pts, -0.86%)
⬆️ Resistance: 20400
⬇️ Support: 18800
Crude Palm Oil: RM4,354 (-RM25, -0.57%)
⬆️ Resistance: 4620
⬇️ Support: 4200
Brent Oil: $76.16 (-$0.89, -1.16%)
⬆️ Resistance: 79.50
⬇️ Support: 73.30
Gold: $2,661.94 (+$0.34, +0.01%)
⬆️ Resistance: 2730
⬇️ Support: 2570
Source: Bloomberg, M+
Dow Jones: 42,635.20 pts (+106.84pts, +0.25%)
⬆️ Resistance: 44000
⬇️ Support: 41400
FBM KLCI: 1,614.83 pts (-14.96pts, -0.92%)
⬆️ Resistance: 1680
⬇️ Support: 1590
HSI Index: 19,279.84 pts (-167.74pts, -0.86%)
⬆️ Resistance: 20400
⬇️ Support: 18800
Crude Palm Oil: RM4,354 (-RM25, -0.57%)
⬆️ Resistance: 4620
⬇️ Support: 4200
Brent Oil: $76.16 (-$0.89, -1.16%)
⬆️ Resistance: 79.50
⬇️ Support: 73.30
Gold: $2,661.94 (+$0.34, +0.01%)
⬆️ Resistance: 2730
⬇️ Support: 2570
Source: Bloomberg, M+
Forwarded from M+ On-The-Go
M+ Market update – 9Jan25
JSSEZ Theme Could Support The Market
The local front closed on a negative tone, as subdued overnight performance in the US spilled into the regional markets. Meanwhile, Wall Street ended mixed, with FOMC meeting minutes reflecting that nearly all committee participants found that upside risks to the inflation outlook had increased, alongside with expectations of fewer rate cuts this year than previously anticipated. Traders will also closely monitor the US monthly initial jobless claims data and China’s CPI and PPI later today. In the commodities market, Brent crude oil declined traded around USD76-77, while the gold price ranging along USD2660 with a positive bias. Meanwhile, the CPO prices continued to trade below the RM4,400 mark.
Sector Focus: Despite broad-based selling pressure, we expect the JSSEZ theme to continue providing support to overall investment sentiment in the near term, driven by ongoing FDI inflows and data center investments. Besides, we remain optimistic about Penang-related counters, underpinned by the commencement of six water projects worth over RM1.8bn and the start of the Penang LRT project. We maintain a bullish outlook on the Construction, Property, Building Material and Utilities sectors. Trading opportunities might persist in ITMAX, as it has secured an RM11.8m CCTV contract from the Penang City Council.
Stocks to watch:
Manufacturing: *MINOX*, UNIQUE
Consumer: *PANDA*, *RGB*
Technology: *ADB*
Utility: *RANHILL*
Property: *VLB*
Construction: INTA
Source: M+
JSSEZ Theme Could Support The Market
The local front closed on a negative tone, as subdued overnight performance in the US spilled into the regional markets. Meanwhile, Wall Street ended mixed, with FOMC meeting minutes reflecting that nearly all committee participants found that upside risks to the inflation outlook had increased, alongside with expectations of fewer rate cuts this year than previously anticipated. Traders will also closely monitor the US monthly initial jobless claims data and China’s CPI and PPI later today. In the commodities market, Brent crude oil declined traded around USD76-77, while the gold price ranging along USD2660 with a positive bias. Meanwhile, the CPO prices continued to trade below the RM4,400 mark.
Sector Focus: Despite broad-based selling pressure, we expect the JSSEZ theme to continue providing support to overall investment sentiment in the near term, driven by ongoing FDI inflows and data center investments. Besides, we remain optimistic about Penang-related counters, underpinned by the commencement of six water projects worth over RM1.8bn and the start of the Penang LRT project. We maintain a bullish outlook on the Construction, Property, Building Material and Utilities sectors. Trading opportunities might persist in ITMAX, as it has secured an RM11.8m CCTV contract from the Penang City Council.
Stocks to watch:
Manufacturing: *MINOX*, UNIQUE
Consumer: *PANDA*, *RGB*
Technology: *ADB*
Utility: *RANHILL*
Property: *VLB*
Construction: INTA
Source: M+