Moving forward, we expect total tonnage to record at 25.5m tonnes in FY22f. Following the re-opening of economic activities, the construction of a new jetty at Sapangar Bay Oil Terminal (SBOT) is largely on track for completion in subsequent months. The move will boost the capacity to undertaking additional port activities as current utilisation rate is averaging at close to 90.0%.

The FBM KLCI outperformed the mixed regional bourses with significant gains despite the lingering geopolitical tensions. Despite the mixed sentiment on Wall Street, we believe the positive sentiment will continue on the local bourse, given the (i) increasing inflows of foreign funds, (ii) firmer crude palm oil prices which may translate to upside on the plantation sector and (iii) decent performance in the banking sector’s results. Nevertheless, upside might be capped with the unsettled Russia Ukraine geopolitical tension.

My E.G. Services Bhd (MYEG) is regarded as a concessionaire for Malaysian Electronic-Government (E-Government) MSC flagship application. MyEG builds, operates and owns the electronic channel to deliver services from various Government agencies to Malaysia citizens and businesses.

Sales are expected to demonstrate improvement in 2022 as Kedah state has moved into the Phase 4 under the National Recovery Plan (NRP) from 8th November 2021. Meanwhile, SLP remains focused on the automation process, which has already brought down its workforce from 363 in early 2021 to below 300 at present. For now, SLP will be targeting to bring its utilisation rate back to pre- Covid-19 levels, which is at around 75.0%.

With the upliftment of operations restrictions on the local front, we reckon earnings growth will return to normalcy in subsequent quarters. Elsewhere, overseas operations particularly projects in China and Singapore will continue to provide earnings sustainability. Elsewhere, liquid carbon dioxide (LCO2) plant is expected to see higher utilisation, riding onto the resumption of economic activities.

The FBM KLCI erased losses from a turbulent week along with the regional peers, as investors shrugged off Russia-Ukraine geopolitical tensions last week. Although Wall Street’s rebound extended on Friday, market condition is likely to remain fragile as the US stock futures trended lower at the time of writing on the back of returning concern on the Ukraine-Russia tension as President Putin puts his nuclear forces on high alerts.

After a difficult period for the construction segment over the past two years, we think that a recovery is largely on sight. For now, Protasco will leverage on its past expertise to ride onto the Budget 2022 announcement for the construction of lowcost housing projects; PPAM and we note that tenderbook is currently at approximately RM3.00bn.

Moving forward, the progressive 5G services rollout by Digital Nasional Berhad (DNB) to target 36.0% of high-density areas including in major cities in Johor, Selangor, Penang, Sabah and Sarawak in 2022 is largely on track. This will provide an opportunity for OCK to tap into the deployment of 4,000-5,000 5G telecommunication sites in 2022. Meanwhile, OCK’s outstanding orderbook of RM280.0m will keep the group busy over the next 2 years.