SEM’s 75%-owned subsidiary, Caring Pharmacy Retail Management Sdn Bhd, has inked a joint-venture (JV) agreement to establish a pharmaceutical business to distribute and administer pharmaceutical products in Indonesia.
Crest Builder has bagged a construction contract for a service apartment with car park worth RM107.5mil from Sime Darby Property (Ara Damansara) Sdn Bhd.
ATA IMS is expecting another 40% drop in turnover for its FY23 following the termination of its contracts with Dyson, its largest customer, which contributes to about 80% of its revenue.
For FY22, it is expecting revenue to reduce by 30% due to the impact of the MCO and the shortage of workers.
EPMB is undertaking a proposed private placement which is expected to raise gross proceeds of up to RM56.9mil.
In corporate earnings performances, Glomac, Hong Leong Bank, Leon Fuat, IJM, MyEG, IHH, Ann Joo, Barakah chalked up better y-o-y quarterly earnings.
On the flip side, UMW, KPower, Sime Darby, Public Bank, MBSB, Velesto Energy, QL, Tiong Nam, Lii Hen recorded weaker y-o-y quarterly results.
Meanwhile, JF Apex expects the FBM KLCI to remain under pressure and test the 1,500-point support following the recent sluggish performance and negative sentiment.
It noted also that the US and European markets rebounded overnight from the selldown sparked by the Omicron Covid variant.