MQ Market Updates - 27 December 2024
MQ Market Updates - 27 December 2024
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Bursa Malaysia's key index rose 1.1% at midday, driven by Tenaga Nasional Bhd (TENAGA), which saw shares hit a record high. The upcoming adjustment in electricity tariffs reflects higher fuel costs, suggesting potential earnings growth for Tenaga Nasional Bhd (TENAGA) under Regulatory Period 4 (RP4).
MYMBN Bhd (MBN) shares plummeted to a record low of 12 sen after the Department of Veterinary Services announced a temporary halt on bird's nest exports to China. This drop marks a significant decline since its IPO 17 months ago.
PUC Bhd (PUC) announced that its associate, Pictureworks International Holdings Ltd, has filed for a Nasdaq listing. The IPO details remain undisclosed. Meanwhile, Southern Cable Group Bhd (SCGBHD) received an earnings forecast upgrade from Apex Securities due to anticipated higher demand for cables.
AmInvestment Bank predicts a 14.3% increase in distributional income for UOA Real Estate Investment Trust (UOAREIT) due to improved rental income.
Source: NST, TheEdge, TheStar
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