PETALING JAYA: While investor sentiment is expected to improve as vaccination rates increase, short-term risks, including the evolving pandemic environment and potential financial shocks from tighter liquidity, may keep the local bourse in a prolonged consolidation phase.
Although the FBM KLCI closed 2.07 points higher yesterday at 1,514.60 amid talk of economic reopening, year-to-date, the index has declined some 6.9%. Daily new Covid-19 cases remain close to record highs, weighing on consumer sentiment.
Notably, more speed bumps are emerging and underlying political risks point to a possibility of continued volatility in the market. Additionally, a “recovery scenario” may have already been priced in, said RHB Research.
KUALA LUMPUR (April 21): Based on corporate announcements and newsflow today, companies in focus on Thursday (April 22), may be as follows: Malaysia Marine and Heavy Engineering Holdings Bhd, Tasco Bhd, Axis Real Estate Investment Trust, Luxchem Corp Bhd, Widad Group Bhd, BIMB Holdings Bhd, CIMB Group Holdings Bhd, Telekom Malaysia Bhd, Malayan Banking Bhd and Hong Leong Bank Bhd.
Malaysia Marine and Heavy Engineering Holdings Bhd (MHB) disclosed today that the value for the engineering, procurement, construction, transportation and installation, and hook-up and commissioning services (EPCIC) contract secured from SapuraOMV Upstream (Sarawak) Inc is RM1 billion. The duration of the contract in the Jerun gas field, which lies in the SK408W block off the coast of Bintulu, is 40 months. The group had announced the contract awarded to its wholly-owned unit Malaysia Marine and Heavy Engineering Sdn Bhd (MMHE) last Thursday.
IHH Healthcare, Notion VTech, Acoustech, HeiTech Padu, AXREIT and Artroniq theedgemarkets.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theedgemarkets.com Daily Mail and Mail on Sunday newspapers.
Axis Real Estate Investment Trust (REIT) saw its net property income (NPI) for the fourth quarter ended Dec 31, 2020 (4QFY20) rise 8.31% to RM51.11 million from RM47.19 million a year earlier, thanks to higher revenue or total trust income. Axis REIT declared a final distribution per unit (DPU) of 2.25 sen, including a non-taxable portion of 1.42 sen, which will be paid on March 11.