Stock to watch in Malaysia
On the local market, the FBM KLCI gained 7.89 points to 1530.65 points. Following the mixed performance in Wall Street, the FBM KLCI could remain sideway above the support of 1500 points.
Stocks to watch are: Bioalpha has obtained the approval from the National Pharmaceutical Regulatory Agency (NPRA) to commence human clinical trials in Malaysia for the botanical drug for the treatment of Type 2 diabetes.
Bioalpha gets NPRA nod to commence human clinical trials for diabetes botanical drug
Bioalpha Holdings Bhd has obtained the approval from the National Pharmaceutical Regulatory Agency (NPRA) to commence human clinical trials in Malaysia for the botanical drug for the treatment of Type 2 diabetes.
The Integrated health supplement company said it will undertake the clinical trials in collaboration with an internationally accredited Contract Research Organisation, which is expected to take place at a Malaysian general hospital.
OpenSys announced it has received an additional order worth RM10.8 million to supply cash recycling machines (CRMs) to Bank Simpanan Nasional (BSN) branches.
BSN cash recycling machines
OpenSys (M) Bhd announced it has received an additional order worth RM10.8 million to supply cash recycling machines (CRMs) to Bank Simpanan Nasional (BSN) branches. CRMs are dual-function machines that replace standalone cash deposit and dispensing machines in banks and financial institutions.
Hong Seng Consolidated said it has accepted the letter of intent (LoI) from Japanese global trading and investment firm Mitsui & Co Ltd’s subsidiary Mitsui & Co (Malaysia) Sdn Bhd to form a strategic partnership for Hong Seng’s nitrile butadiene latex (NBL) business at Kedah Rubber City and integrated logistics services business at Penang.
Hong Seng-Mitsui strategic partnership
Hong Seng Consolidated Bhd said Monday (Feb 7) it has accepted the letter of intent (LoI) from Japanese global trading and investment firm Mitsui & Co Ltd’s subsidiary Mitsui & Co (Malaysia) Sdn Bhd to form a strategic partnership for Hong Seng’s nitrile butadiene latex (NBL) business at Kedah Rubber City and integrated
LPI Capital’s net profit in its 4QFY21 dropped by 23.27% yoy amid lower underwriting profit caused by higher net claims incurred in the quarter.
LPI Capital: 45 sen dividend
LPI Capital Bhd’s net profit in the fourth quarter ended Dec 31, 2021 (4QFY21) dropped by 23.27% to RM73.07 million from RM95.23 million in the same period the prior year amid lower underwriting profit caused by higher net claims incurred in the quarter. Consequently, earnings per share fell to 18.34 sen from 23.9 sen.
Additional Watch
Serba Dinamik ordered to reveal fact-finding update by EY Consulting
Serba Dinamik Holdings Bhd has been ordered by the High Court to reveal the fact-finding update (FFU) by Ernst & Young Consulting Sdn Bhd (EY Consulting), which was appointed to conduct a special independent review (SIR) on the public-listed company.
This is an order that demands Serba Dinamik to make a public announcement of the FFU of EY Consulting following its SIR pursuant to paragraph 2.23(1) of the Main Market Listing Requirements (MMLR) within two market days from the date of this order. This means that Serba Dinamik will have to reveal the FFU by Wednesday (Feb 9).
Proton sales down 25% in January on supply disruption caused by Selangor floods
Proton’s sales volume in January fell to 4,453 units (for both domestic and export sales), a reduction of 25.3% from the same month in 2021 and equivalent to an estimated local market share of 11.3%. It attributed the decline to the knock-on effects of the severe flooding in Selangor at the end of 2021.
Genting Hong Kong ships with unpaid bills seized, Cruise Law News reports
Two Crystal Cruises ships operating under a Genting Hong Kong Ltd unit have been seized in the Bahamas after a fuel supplier sought their arrest for US$4.6 million (about RM19.25 million) in unpaid bills, according to a crew video and the Cruise Law News website.
The Crystal Symphony and Crystal Serenity were arrested late on Friday night in Freeport in the Bahamas, according to Cruise Law News, a site run by Jim Walker, a maritime lawyer based in Florida who cited crew members on both ships for the information. The luxury cruise ships were anchored in Freeport on Saturday (Feb 5), Bloomberg data showed.