KUALA LUMPUR (Aug 20): Malaysian stocks started the week on a positive note, as selected heavyweight counters like Petronas Chemicals Group Bhd, Axiata Group Bhd and DiGi.Com Bhd lifted the benchmark FBM KLCI up 4.11 points or 0.23% despite negative market breadth. The KLCI traded within a range of 1,782.74 points to 1,791.14 points before finishing at 1,787.58 points. Hong Leong Investment Bank Bhd head of retail research Loui Low told theedgemarkets.com that all eyes are focused on Prime Minister Tun Dr Mahathir Mohamad’s official visit to China, to seeRead More
KUALA LUMPUR (July 30): The FBM KLCI struggled to climb higher at mid-morning today as sentiment at the local bourse stayed tepid in line with regional markets. At 10.15am, the FBM KLCI shed 0.59 points to 1,768.55. Losers led gainers by 329 to 215, while 327 counters traded unchanged. Volume was 758.35 million shares valued at RM355.78 million. The top decliners included Heineken Malaysia Bhd, Malaysian Pacific Industries Bhd, Time dotCom Bhd, DKSH Holdings (M) Bhd, IHH Healthcare Bhd, Petronas Gas Bhd, Petron Malaysia Refining & Marketing Bhd, Top GloveRead More
KUALA LUMPUR (July 12): The FBM KLCI reversed its earlier losses and climbed 0.44% at midday break, tracking regional markets, lifted by gains including at banking heavyweights Malayan Banking Bhd and Pulic Bank Bhd. At 12.30pm, the FBM KLCI rose 7.41 points to 1,696.18. The index had earlier slipped to its intra-morning low of 1,686.14. Gainers overtook losers by 277 to 236, while 506 counters traded unchanged. Volume was 1.24 billion shares, valued at RM815.69 million. Top gainers included Malaysian Pacific Industries Bhd, Kossan Rubber Industries Bhd, Maybank, Hartalega HoldingsRead More
KUALA LUMPUR (July 12): The FBM KLCI remained presured at mid-morning today, tracking regional markets as market sentiment stayed tepid with the spectre of a U.S.-China trade war still hanging over global markets. At 10am, the FBM KLCI was down 1.77 points to 1,687.00. Losers led gainers by 238 to 197, while 249 counters traded unchanged. Volume was 520.77 million shares valued at RM253.27 million. The decliners included Nestle (M) Bhd, British American Tobacco (M) Bhd, Kuala Lumpur Kepong Bhd, Batu Kawan Bhd, PPB Group Bhd, Malaysian Pacific Industries Bhd,Read More
KUALA LUMPUR (July 5): The FBM KLCI turned negative at midday break today in tandem with most regional markets, on investors’ anxiety ahead of the Friday deadline for additional U.S. tariffs on Chinese products. At 12.30pm, the benchmark FBMKLCI dipped 0.62 points to 1,687.83. The index had earlier risen to its intra-morning high of 1,691.62. Decliners led advancers by 273 to 250, while 498 counters traded unchanged. Volume was 1.27 billion shares, valued at RM668.89 million. Top losers included Allianz Malaysia Bhd, United Plantations Bhd, Public Bank Bhd, Heineken MalaysiaRead More
KUALA LUMPUR: Bursa Malaysia slipped into a sea of red in the morning session as fears over the looming US taxes on Chinese imports shook global markets. The Shanghai Composite Index extended its losses by a further 0.9%, dragging down Asian equities one day ahead of the July 6 deadline on the trade tariffs. At 12.30pm, the FBM KLCI was 0.62 points lower at 1,687.83 after having spent the mid-morning session in postive territory. Turnover was muted to the tune of 1.27 billion shares with a value of RM668.89mil. ThereRead More
PETALING JAYA: Mi Equipment Bhd, the first Main Market listing this year, opened 3 sen or 2.1% discount to its initial public offering (IPO) price of RM1.42 per share amid weak market sentiment arising from the US-China trade spat.
However, the stock was quick to rebound as much as 21 sen or 14.8% before closing 12 sen or 8.5% higher at RM1.54 on 73.68 million shares done, giving it a market capitalisation of RM770 million.
Mi Equipment manufactures wafer level chip scale packaging (WLCSP) sorting machines, which are used in the semiconductor industry.
Over the years, it has strengthened its presence in the international arena by growing its global client base. For 2016 and 2017, more than 80% of revenue was derived from overseas.
The group raised about RM190.89 million in its IPO, of which almost 74% or RM140 million will be utilised for the construction of two new factories in Bayan Lepas and Batu Kawan, Penang, over the next two years.
The Bayan Lepas factory is expected to be completed by the first quarter of 2019 and the Batu Kawan factory by the third quarter of 2020.
Another RM36.79 million will be used for working capital, and the rest for research and development and to defray listing expenses.
Mi Equipment CEO and executive director Oh Kuang Eng said the group will focus on completing the construction of its new factories to secure orders on a larger scale from existing and new customers.
Rakuten Trade has a 'buy' call on Mi Equipment with a target price of RM2.30.
“Mi Equipment's technical expertise in WLCSP sorting machines will enable them to capitalise on the growing mobile communications industry. EPS (earnings per share) is expected to expand by around 6% and 15% for FY18 and FY19 respectively,” it said in a research note today.
The outlet mall concept is growing popular in Malaysia thanks to the increasing demand for retailers to put off-season merchandise in a separate channel. An outlet store, factory outlet or factory shop is a brick and mortar or online store in which manufacturers sell their stock directly to the public, cutting out the middle-men. Traditionally, […]
KUALA LUMPUR: Mi Equipment Holdings Bhd, a wafer-level chip-scale packaging manufacturer, aims to raise RM190.89 million from its initial public offering (IPO) exercise, says group chief executive officer and executive director Oh Kuang Eng. He said RM140 million would be utilised for capacity expansion with the construction of two new factories in Bayan Lepas and […]
KUALA LUMPUR (May 28): Mi Equipment Holding Bhd, which is en route to list on the Main Market of Bursa Malaysia on June 20, 2018, is seeking to raise RM 190.89 million in its initial public offering (IPO) to finance its expansion. The listing of Mi Equipment, a manufacturer of wafer level chip scale packaging (WLCSP) sorting machines for the semiconductor assembly and packaging industry, is poised to be Bursa’s largest so far this year. Mi Equipment said its planned expansion includes setting up two new factories in Bayan LepasRead More