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Technology stocks rebound on bargain hunting


KUALA LUMPUR (March 9): Technology-related stocks on Bursa Malaysia rebounded in the morning session today on bargain hunting.
At noon break, ViTrox Corp Bhd rose 52 or 3.56% to RM15.12; Unisem (M) Bhd increased by 29 sen or 3.87% to RM7.79; D&O Green Technologies Bhd grew 25 sen or 7.2% to RM3.72; Pentamaster Corp Bhd increased by 19 sen or 3.62% to RM5.44.
Overall, Bursa Malaysia’s technology index gained 1.03% to 80.63 points.
Areca Capital Sdn Bhd chief executive officer Danny Wong told
theedgemarkets.com that he still sees the technology sector as a main growth sector.  
“We still look into its growth over the next three to five years. There will be a structural demand change, where demand will continue to [exceed] the supply. ....

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MyDIGITAL's benefits broad-based, but won't be immediately felt


LAST week, scores of technology-related companies saw their share prices climbing ahead of Prime Minister Tan Sri Muhyiddin Yassin’s announcement of the MyDIGITAL blueprint on Friday.
Digital services and solution providers such as Revenue Group Bhd, Dataprep Holdings Bhd, GHL Systems Bhd, Dagang NeXchange Bhd, Censof Holdings Bhd and ManagePay Systems Bhd were among the top gainers, along with two obvious winners Telekom Malaysia Bhd (TM) and AwanBiru Technology Bhd.
Prestariang Systems Sdn Bhd, a unit of AwanBiru formerly known as Prestariang Bhd has been appointed a managed service provider (MSP) to manage cloud services for the government.
TM, on the other hand, has received conditional approval to provide services to the government for the migration of 80% of public data into the hybrid cloud system by end-2022. This is expected to translate into lower government cost in information technology management and better efficiency in the collection and manageme ....

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Not all O&G companies will immediately benefit from higher crude oil prices, say analysts


KUALA LUMPUR (Feb 9): While higher Brent crude prices have fanned interest in oil and gas (O&G) counters listed on Bursa Malaysia, fund managers and heads of research believe not every company is set to benefit immediately from the higher prices.
Areca Capital Sdn Bhd chief executive officer Danny Wong explained that sustained higher oil prices would have macroeconomic benefits which will impact oil producers such as Petroliam Nasional Bhd (Petronas), resulting in possibly higher dividends to the government.
“In general, the high oil price can boost sentiment in the O&G sector. However, investors will have to be selective. Oil majors are still cautious,” he qualified. ....

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Suppressed valuations now unfavourable for glove listings


AT the height of the glove stocks rally late last year, two local glove companies expressed interest in an initial public offering.
But as valuations for glove stocks have tapered off, now that many countries have started to vaccinate their citizens against the Covid-19 virus, have the duo missed the boat?
Harps Holdings Sdn Bhd and Smart Glove Corp were reportedly seeking to raise about RM2 billion and RM1 billion respectively in an IPO. However, they have yet to file their prospectus exposure draft with the Securities Commission Malaysia.
Analysts generally view a listing as a good platform for private companies to raise funds for their expansion plans. ....

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