Malaysia Morning Wrap | Carlo Rino Will Transfer To Ace Market Today
Good morning mooers! Here are things you need to know about today's market:
U.S. Stocks Fall on Tuesday, Nvidia and Broadcom Plunge Significantly
Carlo Rino Group Berhad Will Transfer To Ace Market From Leap Market Today
Swift Energy Technology Bhd's Subscriptions Close on 23 December
Stocks to Watch:KNM Group, Poh Kong Holding, VSolar Group, etc
- Moomoo News MY
Wall Street Summary
The market fell Tuesday, but stepping back, the view of tech stocks looks like a mountain range that has not peaked yet- for all of December, the Nasdaq has arched upward into all-time highs. After Monday's record, the index pulled back, following a pullback for Nvidia and Broadcom, falling after Broadcom's post-earnings stock jump finally took a pause.
At 4:01 p.m. ET, the $S&P 500 Index (.SPX.US)$ traded down 0.39%, the $Dow Jones Industrial Average (.DJI.US)$ fell 0.61%, and the $Nasdaq Composite Index (.IXIC.US)$ fell 0.32% as well.
Breaking News
Carlo Rino Group Berhad Will Transfer To Ace Market From Leap Market Today
Carlo Rino — well known for its women’s handbags, footwear and accessories. It was listed on the LEAP Market in November 2018. The group gears up for its listing transfer to the ACE Market from the LEAP Market on Dec 18. Significantly, Carlo Rino Group Berhad published its financial report for FY25Q1 on 13 December. The report revealed that the company's revenue for the quarter reached RM19.83 million, with a net profit of RM2.34 million and earnings per share (EPS) of 0.29 sen. Recognizing the challenges posed by increasing operational expenses and a lackluster consumer mood, Datuk Seri William Chiang Fong Yee, the Group Managing Director, remains optimistic. He anticipates a positive shift in the market, driven by the upcoming salary increase for civil servants and the spending associated with the festive season.
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Stocks to Watch
Scientex Packaging's $SCIPACK (8125.MY)$ 1QFY2025 net profit plummets 62.4% to RM2.9 million, attributed to foreign exchange losses. Revenue increases 3.6% to RM179.3 million, yet operating profit drops 51.1% to RM5.7 million due to higher costs.
KNM Group's $KNM (7164.MY)$ German subsidiaries secure a €60 million credit facility to sustain operations, replacing an expired agreement with IKB Deutsche Industriebank AG.
Poh Kong Holdings' $POHKONG (5080.MY)$ 1QFY2025 net profit rises 12.3% to RM21.34 million, buoyed by higher gold prices, despite a 7.5% revenue decline.
VSolar Group $VSOLAR (0066.MY)$ plans a share capital reduction up to RM100 million to offset accumulated losses, retaining net earnings of RM4.44 million post-reduction.
Jati Tinggi Group $JTGROUP (0292.MY)$ wins a RM14.88 million contract to install solar panels at 135 Public Bank branches over three years.
PT Resources' $PTRB (0260.MY)$ 2QFY2025 net profit dives to RM1.68 million, hit by lower sales and increased administrative expenses.
Sapura Energy $SAPNRG (5218.MY)$ receives a fourth deadline extension to May 31, 2025, to submit its plan to exit PN17 status.
Source: Dow Jones Newswires, Bursa Malaysia, The Malaysian Reserve, The Star, The EDGE
Disclaimer: Moomoo Technologies Inc. is providing this content for information and educational use only.
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