This article first appeared in The Edge Malaysia Weekly on November 27, 2023 - December 3, 2023

This will be the final week for the release of third-quarter corporate earnings, with banking giants such as Public Bank Bhd, CIMB Group Holdings Bhd and RHB Bank Bhd set to announce their financial performance for the July-September period.

Other major firms that are set to announce their latest financial results are Petronas Chemicals Group Bhd, Press Metal Aluminium Holdings Bhd, IOI Corp Bhd, PPB Group Bhd, IHH Healthcare Bhd, Axiata Group Bhd, QL Resources Bhd and FGV Holdings Bhd.

On Thursday, Bank Negara Malaysia will release the monthly highlights and statistics for the month of October.

It will be followed by the S&P Global Malaysia Purchasing Managers’ Index (PMI) manufacturing data on Friday. The seasonally adjusted PMI posted 46.8 in September, down from 47.8 in August, as demand conditions remained challenging during the month.

Regionally, Taiwan and India are expected to release their 3Q gross domestic product numbers on Tuesday and Thursday respectively. China is due to announce its official PMI surveys for November on Thursday.

The meeting of the Organization of the Petroleum Exporting Countries and its allies (OPEC+), which has been rescheduled to Thursday from last Sunday, is likely to focus on discussing oil output cuts on concerns over oil demand next year amid a global economic slowdown.

The conflict between Israel and the Hamas will be closely watched following the start of a four-day truce last Friday to allow for the release of 150 Palestinian prisoners and at least 50 Israeli hostages. Over the four-day period, additional aid will flow into the Gaza Strip, which has been facing a humanitarian crisis since the incursion of Israeli forces.

On the local corporate front, retail management solutions provider Panda Eco System Bhd will make its debut on the ACE Market of Bursa Malaysia on Monday, with an initial public offering (IPO) price of 16 sen apiece that values it at RM107.4 million. It is seeking to raise some RM17.5 million through its IPO, which was oversubscribed by a whopping 153.47 times for the public shares.

Companies that are set to hold their annual general meetings include Karex Bhd (Nov 27), Padini Holdings Bhd, Titijaya Land Bhd and Samaiden Group Bhd (Nov 28), Chin Well Holdings Bhd and EG Industries Bhd (Nov 29), Jaya Tiasa Holdings Bhd and Uzma Bhd (Nov 30), as well as Kobay Technology Bhd (Dec 1).

On Tuesday, MKH Bhd will seek approval from its shareholders for the listing of MKH Oil Palm (East Kalimantan) Bhd on the Main Market of Bursa. MKH proposes to undertake an IPO of 24.5% of MKHOP’s enlarged share capital after completing a slew of pre-listing corporate exercises.

Also, Berjaya Corp Bhd will hold its extraordinary general meeting (EGM) on Thursday to obtain shareholders’ approval for the sale of its entire 100% stake in waste management firm Berjaya Enviro Holdings Sdn Bhd to Naza Corp Holdings Sdn Bhd for RM700 million.

On Friday, Opcom Holdings Bhd is scheduled to have an EGM on its proposed diversification into the power generation and transmission business.

The Court of Appeal is set to deliver its decision on Tuesday on former Felda chairman Tan Sri Mohd Isa Abdul Samad’s appeal over his graft conviction in relation to the purchase of a hotel in Kuching, Sarawak, almost 10 years ago.

On Wednesday, the Federal Court will hear Datin Seri Rosmah Mansor’s application for leave to nullify her solar hybrid project graft case, which saw the High Court convict and sentence her to a 10-year jail term and a RM970 million fine.

On the same day, the Sessions Court will decide on Tan Sri Muhyiddin Yassin’s bid to have his passport returned to him permanently and unconditionally. Last August, the High Court struck out four abuse of power charges against him in connection with the Jana Wibawa project; he is still facing three charges of money laundering in the Jana Wibawa scandal.

Meanwhile, more developments in the Supermax Corp Bhd saga can be expected as the High Court will hear Aurelia Joie Thai’s injunction application to stop her father, Supermax founder Datuk Seri Stanley Thai, and three others from holding a nominee remuneration committee meeting to consider whether to allow Aurelia to continue as director of Supermax’s subsidiary Maxter Glove Manufacturing Sdn Bhd.

Aurelia has gone up against her father over the purchase of a new aircraft, which she claimed was unnecessary, and had resulted in Stanley trying to remove her as a director at Maxter Glove Manufacturing.

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