Weekly Market Pulse 1 Apr 2024

US stock market review 25-29 Mar 2024
- DJI +0.8%, SP500 +0.4%, NASDAQ –0.4%, both DJI & SP500 closed at a fresh record
- US Q4 GDP grows higher than expected while Federal Reserve Chair Jerome Powell stated that the US central bank isn't in any rush to cut interest rates
- Event to watch: 1 Apr Manufacturing PMI, 4 Apr Initial Jobless Claims, 5 Apr Nonfarm Payroll & Unemployment rate

MY stock market review 25-29 Mar 2024
- KLCI –0.4% continue to be flat but ended Q1 2024 with a strong note
- Energy sector closed with nearly 2% gain as WTI crude oil up more than 3% last week, while Transportation & Logistics index hike around 2.6%, mainly lead by AIRPORT
- Event to watch: 1 Apr Manufacturing PMI

Stock of the week
MMAG Holdings Berhad MMAG(0034)
Will MMAG's aviation arm business turn a profit?
Price trend
Share prices has increased by more than double from the lowest level of RM0.09 at the start of the year to RM0.19 last week.
Company profile
- MMAG is a full-fledged integrated supply chain management company that provides first, mid and last-mile delivery services in Malaysia and across Asia. MAC offers an array of services through its subsidiaries such as air cargo terminal operator, air cargo services, oceanic transshipment(particularly for live seafood and perishable goods) and on-demand cargo and pallet warehousing services.
- Shariah compliant
Latest earnings
For the financial year ended 31 Dec 2023, MMAG has not made any profit and paid no dividends. However, market sentiment is optimistic for MMAG to grow in the logistic sector.
Recent development
MMAG's aviation arm, MMAG Aviation Consortium Sdn Bhd (MAC) made an investment of over RM150 million to establish integrated facilities across its subsidiaries to tranform KLIA into a premier regional air cargo hub.
Factors to watch
- Opportunities
- Potential to be key player in transforming KLIA into a premier regional air cargo hub through an investment of over RM150 million.
- Collaboration with Menzies Aviation(SG) Pte Ltd, part of Menzies Aviation Ltd, that can lower costs and unlocking new streams of revenue and business activities.
- Risk
- Weak financial statements
- A negative value for Earnings per share of –3.2 last year
- Consistentl loss with a profit margin of –16.5% last year
- Low air cargo traffic in the future

Text Disclaimer
This content is for reference only and does not constitute any investment advice, and past performance is not indicative of future performance. Returns will vary, and all investments carry risks, including loss of principal. Please make your own investment decisions.