MY Morning Wrap | Capital Market Flow to Remain Stable Ahead of Six State Elections, Says SC Chairman

A climb in the shares of $Berkshire Hathaway-B(BRK.B.US)$ and other blue-chip companies led markets higher on Monday, helping Wall Street bounce back from a stretch of losses.

The climb helped lift the $S&P 500 Index(.SPX.US)$ to a 0.9% daily gain, while the $Dow Jones Industrial Average(.DJI.US)$ added 408 points, or 1.2%. The $Nasdaq Composite Index(.IXIC.US)$ looked set for losses in early trading, dragged lower by Tesla shares that slid as much as 4.4% after the departure of longtime Chief Financial Officer Zachary Kirkhorn. The electric-car maker finished 1% lower, and the tech-heavy index notched a 0.6% advance.

$IHH(5225)$: IHH Healthcare Bhd said Agilus Diagnostic Ltd, a subsidiary of its 31.17%-owned associate Fortis Healthcare Ltd, will be undertaking an initial public offering (IPO). It said the boards of both Fortis and Agilus had at their meetings held on Aug 4 considered and granted their approval for Agilus to initiate an IPO process via an offer of sale of equity shares to certain existing and eligible shareholders of Agilus in the IPO. In November 2018, IHH acquired a 31.17% equity interest in Fortis, an India-based healthcare operational provider — through a preferential allotment by Fortis to an indirect wholly-owned subsidiary of IHH — Northern TK Venture Pte Ltd, in a US$584 million (RM2.66 billion) deal.

$F&N(3689)$: Fraser & Neave Holdings Bhd (F&N) continues to impress with its strong performance in the third quarter of 2023 (3Q23), posting a net profit of RM99.37 million, surpassing last year’s figure of RM97.5 million. The growth can be attributed to higher revenue, with quarterly sales reaching RM1.33 billion compared to RM1.12 billion in the previous year. The revenue boost was driven by robust festive sales, a strong performance in the F&B Malaysia and F&B Thailand domestic markets, recovery in export markets, and the positive impact of Cocoaland Industry Sdn Bhd's contribution.

$YINSON(7293)$: Yinson Holdings Bhd's offshore production business unit Yinson Production has secured a US$230 million term loan facility in relation to FPSO Maria Quitéria. In a statement on Monday (Aug 7), Yinson Production said the loan facility was structured and arranged by Global Infrastructure Partners, an independent infrastructure fund manager with approximately US$100 billion in assets under management. Yinson Production was awarded the supply, operation, and maintenance of FPSO Maria Quitéria by Petróleo Brasileiro SA in February 2022. The FPSO is for the Jubarte field as part of the Parque das Baleias Integrated Project offshore Brazil.

$BJCORP(3395)$: Berjaya Corp Bhd (BCorp) founder and adviser Tan Sri Vincent Tan and BCorp's unit Berjaya Land Bhd (BLand) have issued a letter of demand to caretaker Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor over alleged defamatory remarks relating to the Selangor Maritime Gateway (SMG) project. Tan and BLand are demanding a public apology and RM200 million in compensation from the PAS leader over his remarks on the RM700 million project involving the rehabilitation of the Klang River. They want Sanusi to remove and retract "all the defamatory statements" he allegedly made against Tan and BLand in a speech at a public event last week by Tuesday, or face legal action. BLand said the company and Tan have also lodged several police reports against Sanusi and bloggers Murray Hunter, Badrul Hisham Shaharin (better known as Chegubard) and Raja Petra Kamarudin, over the alleged publication of similar defamatory and untrue remarks relating to the SMG project.

$LGMS(0249)$: Bursa Malaysia-listed LGMS Bhd has penetrated the Cambodian banking market by helping ABA Bank to secure the international Payment Card Industry Data Security Standard (PCI DSS) certification. LGMS is one of Southeast Asia's leading cybersecurity groups with a presence spanning 127 offices in 63 countries and 26 offices across 15 Asia-Pacific nations.

$OPTIMAX(0222)$: Optimax Holdings Bhd has obtained a licence from the Ministry of Health to offer plastic surgery and aesthetic services at its Optimax Ipoh Specialist Centre. "These new services will complement and enhance the group’s current offerings, enabling Optimax to leverage on its facilities and team effectively," the group said. "This strategic integration aligns with Optimax's business expansion strategy."

$JERASIA(8931)$: Trading in the securities of Jerasia Capital Bhd continues to be suspended from Tuesday until further notice. Bursa Malaysia said shares of the apparel manufacturer and fashion retailer would be suspended as it failed to submit its outstanding quarterly report for the financial period ended May 31, 2023 on or before Aug 7. In a separate filing, Jerasia said it is expected to submit its quarterly report to Bursa Malaysia no later than Aug 18. Trading in Jerasia shares was also suspended on April 25, following the winding-up order from the High Court against the company over unpaid debts amounting to RM28.81 million by its unit Canteran Apparel Sdn Bhd.