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By Kuala Lumpur Newsroom
Nikkei Markets
KUALA LUMPUR (Dec 21) — Here’s a roundup of latest news from Malaysia so far on Thursday:
*Malaysia’s Ahmad Zaki Resources Gets MYR138.38 Mln Construction Project
Ahmad Zaki Resources, a Malaysia-based construction company, said Thursday its unit has accepted a letter of award from Institute of Technology Petronas for a construction project worth 138.38 million ringgit ($33.94 million).
*Malaysia’s Affin Holdings To Raise Stake In AXA Affin General Insurance
Affin Holdings, a Malaysian financial services firm, said Thursday it plans to buy a 12.87% stake in associate AXA Affin General Insurance for 180.54 million ringgit ($44.29 million) from Felda Marketing Services.
*Muhibbah Engineering (M) Gets MYR189 Mln Noise Barriers Installation Contract
Muhibbah Engineering (M), a Malaysia-based infrastructure and engineering company, said Thursday it has won a noise barriers and enclosures contract worth 189 million ringgit ($46.36 million) from Mass Rapid Transit Corporation.
*ASIA MARKETS: Singapore Shares Fall To One-Month Low, Malaysian Equities Gain
Singapore shares fell to a one-month low on Thursday, as real-estate developers declined. Malaysian equities edged higher, paced by heavyweight Tenaga Nasional.
*SIM Technology Group To Sell Simcom Wireless For CNY518 Million
SIM Technology Group, a Hong Kong-listed mobile communication company, said Thursday it has entered into an agreement with Shenzhen Sunsea to sell Simcom Wireless for 518 million yuan ($78.66 million).
*ASIA MARKETS: Nikkei Asia300 Index Edges Lower, Dragged By South Korean Stocks
Asian stocks outside of Japan edged lower, weighed by losses in South Korea after heavyweight Samsung Electronics posted its biggest single-day drop this month.
*Malaysia’s Daya Materials Gets MYR67 Million Production Chemicals Contract
Malaysian oil-and-gas services firm Daya Materials said Thursday its subsidiary has secured a contract worth 67 million ringgit for integrated production chemicals supply and services.
*JD.Com Pledges CNY1 Bln Investment For Second-Hand Products Trading App
JD.com, China’s largest retailer by revenue, said on Thursday it has launched a new mobile application for trading second-hand products and plans to invest up to one billion yuan ($152 million) within three years to nurture around 100 “star merchants” with advertising and promotional support.
*Malaysia’s Protasco Gets Civil Servants Housing Contract
Protasco, a Malaysian engineering services firm, said Thursday it has received a Letter of Award from a unit under the Prime Minister’s Department to undertake a civil servants housing project.
*China Railway Construction Receives CNY8.52 Bln Order In Bangladesh
State-owned railway contractor China Railway Construction said on Thursday a subsidiary has signed a contract worth 8.52 billion yuan ($1.29 billion) with Bangladesh Railway.
*ASIA MARKETS: Chinese Shares Help Lift Hong Kong Stocks To Three-Week High
Hong Kong stocks shares climbed to a three-week high on Thursday, led by Chinese companies in the city after mainland authorities signaled intent to improve economic quality and push reforms to support innovative businesses.
*Malaysia’s Wah Seong Corporation To Sell Unit WS Agro Industries For $6 Mln
Malaysian oil-and-gas services firm Wah Seong Corporation said Thursday it is selling Singapore-incorporated unit WS Agro Industries for $6 million to plantation firm Agro Panorama.
*Malaysia’s Sarawak Cable Gets MYR18.41 Mln Contract From Health Ministry
Sarawak Cable, a Malaysia-based cable-and-wire producer, said Thursday its unit has received an acceptance letter from the health ministry for a contract worth 18.41 million ringgit ($4.52 million) for helicopter medical evacuation service and flying doctor service.
*Honghua Group To Sell Two Units Of Land Drilling Rigs For $39 Million
Honghua Group, a Hong Kong-listed drilling rig company, said Thursday it has entered into an agreement with Arabian Drilling Company to sell two units of land drilling rigs with certain specifications for $39 million.
*AEON Credit Service (M) 3Q Net Profit Rises 5.2% To MYR70.55 Mln
AEON Credit Service(M), a Malaysia-based non-banking financial company, said Thursday net profit for the fiscal third quarter rose 5.2% on year, partly due to gains from a cash flow hedge.
*Malaysia’s TSR Capital, Kwasa Land To Jointly Develop Residential Project
TSR Capital, a Malaysian construction and property development group, said Thursday it will partner Kwasa Land to jointly develop a residential development in Selangor’s state that carries 295 million ringgit ($72.34 million) in gross development value.
*MARKET BUZZ: Insures Lift Hong Kong’s HSI To 3-Week Highs
Hang Seng closes up 0.5% to 29,367.06, highest since Nov. 29, led by insurers. Ping An Insurance rose 2.8%, extending its rally since the start of the year to more than 110%.
*Malaysia’s Atta Global Group Sees Shares Worth MYR6.28 Mln Sold Off-Market
Atta Global Group, a Malaysian steel products and furniture maker, saw 8.26 million shares valued at 6.28 million ringgit ($1.54 million) sold in off-market trades, data from N2N trading platform showed Thursday.
*Didi Chuxing Completes $4 Bln Equity Funding Round – Nikkei Asian Review
Chinese ride-hailing leader Didi Chuxing said Thursday it has raised $4 billion in fresh capital from an undisclosed source.
*INTERVIEW:Malaysia’s Econpile Seeks To Form Consortium To Bid For Rail Projects-CEO
Econpile Holdings, a Malaysian piling and foundation firm, is in talks with several potential partners to form a consortium to bid for work packages under Kuala Lumpur-Singapore High Speed Rail and East Coast Rail Line, its chief executive said.
*China Set To Allow Japanese Companies To Issue Panda Bonds – Nikkei Asian Review
Japanese and Chinese authorities are set to agree on creating a framework to exchange auditing information on Friday, a major step toward allowing Japanese companies to issue yuan-denominated bonds in mainland China.
*ASIA MARKETS: Financials Lead Hong Kong Shares Higher Ahead Of Holidays
Hong Kong shares rose by midday on Thursday, outperforming most other regional markets, as financial sector heavyweights advanced.
*Malaysia’s Wong Engineering Swings Back To Profit In 4Q
Malaysia’s Wong Engineering Corp., a high precision component parts manufacturer, returned to profitability in the fiscal fourth quarter due to higher sales and better cost control.
*MARKET BUZZ: Malaysia’s Property Stocks Down; MIDF Keeps Positive View
Bursa Malaysia Properties index falls 0.1% at 1184.97, lowest since February despite a favorable stamp duty decision.
*MARKET BUZZ: Malaysia Tech Stocks Near 13-Year High On Earnings Hopes
Bursa Malaysia Technology index up 0.8% to 41.75 points, highest since Jan 2005, on hopes of stronger profit in 2018.
*Fosun Pharma Unit To Raise $190 Million From New Share Issue
Shanghai Fosun Pharmaceutical Group, or Fosun Pharma, said research-and-development unit Shanghai Henlius Biotech will raise $190 million from a new share issue.
*MARKET BUZZ: Financials, Energy Shares Lift Hong Kong’s HSI; Tsingtao Slumps
Hang Seng up 0.3% at 29,311.90, paced by advances in financial heavyweights. Index’s move higher comes despite US shares ending lower for second day over.
*China’s Colour Life To Raise Up To $55.7 Million From Share Placement
Chinese property management company Colour Life Services Group plans to raise up to HK$436 million ($55.7 million) from a placement of new shares to meet its expansion and general corporate needs.
*Vicon Holdings’s Hong Kong IPO Priced At Upper End Of Indicative Range
Vicon Holdings said its Hong Kong initial public offering was priced at HK$1.20 a share, the upper end of an indicative range.
*MARKET BUZZ: CIMB Cuts End-2018 KLCI Target To 1880
CIMB Investment Bank lowers its end-2018 KLCI target to 1880 from 1920, on changes in KLCI constituents; tips index to end higher this year at 1790.
*GCL New Energy To Sell Power Assets For About $140 Million, Lease Them Back
Chinese solar-power-station operator GCL New Energy Holdings (GNE) said it entered deals with two separate companies to sell certain power assets for a total $922 million yuan ($140 million), and then lease them back.
*MARKET BUZZ: Malaysia KLCI Holds On To Gains; Hong Leong Tips Resistance At 1760
Malaysia’s benchmark KLCI steady in early trade, holds on to 0.2% gains at 1749.46, in contrast with most Asian shares, which are trading lower.
*AV Promotions Shares Advance In Hong Kong GEM Board Debut
Shares of AV Promotions Holdings rose as much as 10.9% as the lighting-and-audio-services provider made its trading debut on Hong Kong’s growth enterprise market for smaller companies.
*MARKET BUZZ: Malaysia KLCI Likely Range-Bound; 1729-1755 Band Tipped
KLCI likely to move sideways as investors wait for new leads; index ended up 0.6% at 1746.63 yesterday.
– By Kuala Lumpur Newsroom; kleditorial@nikkeinewsrise.com; +60320267363
– Edited by Ahana Sen Gupta
– Send Feedback to feedback@nikkeinewsrise.com
– Copyright (c) 2017 Nikkei NewsRise Asia Pte Ltd.
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