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ECONFRAME Bhd, which debuted on the ACE Market of Bursa Malaysia in October 2020, is on the prowl for business partners that can help broaden its offerings. “When the markets started to open last year, it was a good time for us to look into acquisitions. We are unfazed by [concerns of a] recession because the property upgrade market is ever present. Companies like Sime Darby [Property Bhd] and Mah Sing [Group Bhd] will continue to launch, and their sales figures are good,” Econframe managing director Lim Chin Horng tells The Edge.
THE recovery theme was well in play even before Malaysia began its transition to the endemic phase of Covid-19 on April 1 because markets traditionally move ahead of the economy and financial results by at least six months. Some stocks began to rally in the early part of the year as investors anticipated that they would benefit from the reopening of borders. While some companies have continued to gain after the reopening of all economic sectors, profit-taking has had an effect on some stocks despite turning in a better financial performance year on year.
Shares in Hextar Technologies Solutions Bhd rallied to an all-time high on Tuesday (Jan 3), ostensibly on the unexpected appointment of former Bank Negara Malaysia (BNM) governor Tan Sri Muhammad Ibrahim as its independent non-executive chairman.
Here is a brief recap of some corporate announcements that made news on Friday (Dec 30) involving Telekom Malaysia Bhd, Malayan Banking Bhd, Astro Malaysia Holdings Bhd, Hextar Healthcare Bhd, MISC Bhd, Kuala Lumpur Kepong Bhd, Poh Huat Resources Bhd, Cypark Resources Bhd and Crest Builder Holdings Bhd.