Harbour-Link Group Bhd (HARBOUR) history traces back since 1975 in the shipping industry and now has grown into an integrated logistics services provider, shipping and engages in construction works, heavy lifting and haulage as well as property development. HARBOUR owns a total of 12 container vessels with a total capacity of 6,100 twenty-foot equivalent units (TEUs).

The FBM KLCI slipped on Friday as profit-taking activities within selected banking and energy heavyweights on the key index pulled the index lower. While Wall Street staged a massive comeback on Friday, investors may continue to monitor a series of event this week including the interest rate decision by the US Feds and Bank of England to gauge economic outlook and market directions going forward.

The FBM KLCI retreated as profit-taking activities emerged amid mixed regional performances led by plantation heavyweights. Given the mixed sentiment on Wall Street following the selldown in tech giants in the US, coupled with the interest rate hike by the European Central Bank, we believe the negative sentiment may spillover to the local front and the FBM KLCI could have limited upside potential for the near term.

The FBM KLCI rallied higher in tandem with most of the regional markets as telecommunications, plantation, and healthcare heavyweights in focus. As the Wall Street hit the resistance and took a breather after the significant rebound over the past two weeks after investors digested weaker earnings from big technology giants, we expect the negative sentiment may spill over to the regional and local bourses.

Kein Hing International Bhd (KEINHIN) was established since 1981 and engaged in the supply of parts and metal components to various industries such as automotive, electrical & electronics, home appliances and audio-visual equipment industries. Since 2006, KEINHIN manufacture and sale of consumer products namely gas appliances under its own brand name “ZENNE”.

The FBM KLCI took a breather from earlier winning streak as profit-taking activities emerged in Petronas-related and selected banking heavyweights. However, we believe the buying interest could spillover from Wall Street to stocks on the local front, coupled with the foreign investors turning net buyers (5-day net buy valued at RM37.1m). Meanwhile, traders might be attuning towards GE15 theme or re-tabling of Budget 2023 after the GE15.

Trip to the East. We recently took a trip to East Malaysia and came away feeling fruitful of the journey after being equipped with better insights of the operating landscapes at Sabah and Samalaju Industrial Park, Sarawak. We were briefed on the current operations, future plans and undertook site visits over 4 companies, namely; Suria Capital Holdings Bhd (SURIA), OM Holdings Ltd (OMH), Cahya Mata Sarawak Bhd (CMSB) and Bintulu Port Holdings Bhd (BIPORT).

Texchem Resources Bhd (TEXCHEM) started off as a textile chemical trader and has now evolved into the (i) sales and distribution of industrial raw materials and additives, (ii) polymer engineering, (iii), seafood processing, (iv) food & beverage and (v) corporate services.