KLSE:SKHAWK

TA Securities Downgrades Steel Hawk to Sell from Hold; Price Target is MYR0.21

Malaysian Shares Extend Gains Bucking Downbeat Regional Performance; Steel Hawk's Shares Rise 7%

Malaysian shares ended in the green on Thursday, extending yesterday's gains. The index bucked a largely weaker regional trend, after the US held interest rates steady.The FTSE Bursa Malaysia KLCI, the main gauge of Malaysian stocks, gained 4.84 points to end 0.3% higher at 1,720.40.In economic news, Mainland Chinese companies are increasingly looking at ASEAN for overseas expansion, with Malaysia as one of the preferred investment destinations in the region, according to preliminary survey findings by the Hong Kong Trade Development Council. Malaysia was Hong Kong's third-largest ASEAN trading partner in 2025, while Hong Kong was Malaysia's second-largest investor after Singapore, with cumulative foreign direct investment of $34.8 billion at the end of 2025.In corporate news, shares of Steel Hawk (KLSE:SKHAWK) jumped 7% on today's close after its unit Steel Hawk Manufacturing agreed to subscribe for a 55% stake in engineering and oil and gas services company Sparksfly for 1.1 million ringgit in cash.Sunway Healthcare's (KLSE:SUNMED) subsidiary, Sunway Medical Centre, signed an agreement to acquire four parcels of freehold land in Johor for 45.4 million ringgit. Shares ended flat today.

Steel Hawk Unit Signs Over MYR1 Million Deal for 55% Stake in Sparksfly

Steel Hawk (KLSE:SKHAWK) unit Steel Hawk Manufacturing has agreed to subscribe for a 55% stake in engineering and oil and gas services company Sparksfly for 1.1 million ringgit in cash.The transaction involves the subscription of 611,112 new shares in Sparksfly, which will become an indirect subsidiary of Steel Hawk upon completion, according to a Thursday Malaysian bourse filing.Steel Hawk will fund the subscription through internally generated funds.The proposed subscription is expected to be completed in the third quarter, it said.

TA Securities Downgrades Steel Hawk to Hold from Buy; Price Target is MYR0.23