MY Morning Wrap | Foreign Investors Return to Bursa Malaysia with Net Purchases of RM23.1mil

Overall, it was a subdued trading session in the lead-up to the Federal Reserve's interest-rate decision on Wednesday. The $S&P 500 Index (.SPX.US)$, the $Dow Jones Industrial Average (.DJI.US)$ and the $Nasdaq Composite Index (.IXIC.US)$ all rose less than 0.1%.

$SDG (5285.MY)$ : Sime Darby Oils International Ltd (SDO), a wholly-owned subsidiary of Sime Darby Plantation Bhd, says the collaboration with Guangxi Beibu Gulf International Port Group Ltd (BGP) presents an opportunity for its palm oil products to be sold and distributed in major consumer areas in mainland China. The parties had inked a memorandum of understanding (MoU) worth RM2.5bil to leverage the port and logistics of BGP in the Beibu Gulf Economic Region to establish a shortening trading distribution centre in the Qinzhou Free Trade Zone of Guangxi Zhuang Autonomous Region in China.

$KLK (2445.MY)$ : Lembaga Tabung Angkatan Tentara's (LTAT) move to offload a 33% stake in Boustead Plantations Bhd (BPlant) to Kuala Lumpur Kepong Bhd (KLK) was necessary to avoid Boustead Holdings Bhd from going bankrupt, said Defence Minister Datuk Seri Mohamad Hasan. He said the stake disposal for RM1.15 billion is to address Boustead’s cash flow issues and debt settlement of RM800 million by end-2023.

$MYEG (0138.MY)$ : MyEG Services Bhd said it has partnered with Chinese state-owned Guangxi Beitou IT Innovation Technology Investment Group Co Ltd to offer an international digital identity credential service on the Zetrix blockchain.

$MFCB (3069.MY)$ : Mega First Corp Bhd, which is involved in the renewable energy, resources and packaging sectors, has teamed up with Lao Green Power Corp Co Ltd and Enemax Trading Ltd to jointly explore new business investment opportunities in Laos. It said the joint venture will pave the way for the company to explore new business opportunities in Laos.

$RAPID (7765.MY)$ : Rapid Synergy Bhd's share price fell 12.71% or RM3.06 to a low of RM21.02 following the announcement of the sale of a land in Manjung, Perak for RM22.89 million in cash. On Friday (Sept 15), the precision tool-making company announced that it had disposed of 6,653/10,000 undivided share of a parcel of land in Manjung, measuring 303,487 sq ft, to Yokado Sdn Bhd.

$UEMS (5148.MY)$ : Shares in UEM Sunrise Bhd rose as much as 13.5 sen or 18.49% in active trade on Monday, pushing the counter to a four-year high of 86.5 sen. The counter has risen more than 231% this year, on sentiment play amid an inflow of positive news for projects in Johor, in particular near the Iskandar region, where UEM Sunrise’s portfolio is mostly located.

$DAYANG (5141.MY)$ : Dayang Enterprise Holdings Bhd’s pan-Malaysia contract from PTTEP Sarawak Oil Ltd and PTTEP Sabah Oil Ltd to provide maintenance, construction and modification has been extended until Dec 31, 2024. The original contract duration was from 2018 to mid-July 2023, the integrated oil and gas service provider said.

$ITMAX (5309.MY)$ : ITMAX System Bhd's subsidiary has secured a contract entailing the provision of video surveillance services for the Johor Bahru City Council (MBJB) worth RM105.32 million for a 15-year period. The group said the contract commenced this month.

$CITAGLB (7245.MY)$ : Citaglobal Bhd has entered into a memorandum of understanding (MOU) with China government-linked Shanghai SUS Environment Co Ltd (SUS), with a RM15 billion investment commitment from SUS for joint collaboration and development of waste-to-energy (WTE) projects in Malaysia. This confirmed a report by The Edge weekly in its latest edition that Citaglobal was expected to sign a new MOU for the WTE venture as its management strives to expand the group further.

$SUNVIEW (0262.MY)$ : Sunview Group Bhd has entered into an agreement with UOB Malaysia to provide installation and management services of solar power systems for local businesses and consumers.Through its wholly-owned unit Fabulous Sunview Sdn Bhd, Sunview will provide services in the development, planning, procurement, as well as construction.

$THETA (9075.MY)$ : Information technology solutions provider Theta Edge Bhd is looking to collaborate with Estonian technology firm Cybernetica AS on joint development, implementation, marketing and promotion of digital identity products exclusively in Malaysia and digital identity, cybersecurity, privacy enhancement and interoperability within Malaysia and other Asean countries on a project basis.