Here's what we have for the week.

Corporate Events

1. Foundpac Group Bhd had proposed to list its 75% owned subsidiary, Dynamic Stencil Sdn Bhd.

2. Luster Industries Bhd is venturing into the business of glove manufacturing.

3. Rumors suggest that Sime Darby may list its subsidiary, Ramsay Sime Darby Health Care, and raise RM 500 million from the listing.

4. Kumpulan Powernet had acquired 51% stake in Chemtrax Sdn Bhd, a company involved in the business of transporting chemical and gas.

5. MMC Corp Bhd is looking to list its port assets and raise USD 1 billion from the listing.

Property News

1. KL Kepong Bhd had acquired another 20% equity stake in Aura Muhibah Sdn Bhd by paying RM 182.6 million to UEM Sunrise Bhd. The company owns 2,500 acres of freehold land in Senai, Johor.

2. Land & General Bhd is partnering with Mayland Properties to develop a commercial land located at Semenyih.

3. Western Digital's PJ factory had been sold to Taiwan based company, Wistron Corp.

4. LBS Bina Bhd sold a piece of agricultural land located in Kuala Langat for RM 10 million. (RM 18 psqft)

Industry News

1. Interest Rate and the Gold price usually move in an inverse relationship. However, both are moving in tandem recently.

2. The market is expecting another interest rate cut in November. A low-interest-rate environment is bad for the insurance provider.

3. Times are bad for restaurants and hotel operator. However, the loan approval rate for these industries is still maintaining at the same level.

4. The Work from Home trend is still not affecting the rental rate of offices in Malaysia.

5. The export volume of Palm oil rise slightly as of 1-25 October despite China had imported a lot less. One possible reason is that China may be purchasing a huge amount of soybean from the US in order to fulfill their trade agreement.

Weekly Newsletter - 25 Oct 2020

Here's what we have for the week.

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