<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 28): Affin Hwang Capital Research has upgraded Uchi Technologies Bhd to “Buy” at RM2.67 with a higher target price (TP) of RM3.09 (from RM3.02) and said Uchi’s 1Q19 results were seasonally weaker but in line with expectations.</p></div>

<div class=newsTextDataWrapInner><p>In a note toay, the research house said it does not expect significant deviations in the coming quarters.</p></div>

<div class=newsTextDataWrapInner><p>It said stability has been a crucial component of Uchi’s earnings in the past and this has ensured a steady dividend payout.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“At a 2019E yield of 6%, we think this is attractive as there could be upside potential from the expansion of a new product as well as the current weak ringgit.</p></div>

<div class=newsTextDataWrapInner><p>“Upgrade to Buy with a higher TP of RM3.09 (based on an unchanged target PE multiple of 17x but after rolling forward to 2020E EPS),” it said.</p></div>


KUALA LUMPUR (May 28): Affin Hwang Capital Research has upgraded Uchi Technologies Bhd to “Buy” at RM2.67 with a higher target price (TP) of RM3.09 (from RM3.02) and said Uchi’s 1Q19 results were seasonally weaker but in line with expectations.

In a note toay, the research house said it...

Affin Hwang Capital upgrades Uchi, raises target price to RM3.09

Former Penang chief minister Lim Guan Eng’s undersea tunnel graft trial on Thursday did not proceed as scheduled because star witness Datuk Zarul Ahmad Mohd Zulkifli is down with vertigo.

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Feytech Holdings Bhd looks to raise some RM201.6 million from its initial public offering (IPO) on the Main Market of Bursa Malaysia through the issuance of 252.94 million new shares, with about 43% via offer for sale by existing shareholders, at 80 sen per share.

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<p>US software giant Microsoft Corp said on Thursday it would invest US$2.2 billion (RM10.5 billion) over the next four years in cloud and artificial intelligence (AI) infrastructure in Malaysia.</p>


<p>Luno, a digital asset exchange (DAX) licensed by the Securities Commission Malaysia, expands its coin offerings with the launch of Cosmos (ATOM) and Polkadot (DOT).</p>


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<p>Latest data signalled further downbeat trends across the Malaysian manufacturing sector at the start of the second quarter of 2024.</p>

<p>In a statement on Thursday, S&amp;P Global Market Intelligence said that while demand remained generally subdued, there were slight indications that firms were on an upward trajectory, as firms scaled back production at a softer rate amid a slower reduction in new order inflows.</p>


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<p>A gauge of global stocks fell on Wednesday while the dollar weakened against a basket of peers after the Federal Reserve (Fed) left interest rates unchanged and indicated it is still leaning toward eventual rate cuts.</p>


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<p>Smart Asia Chemical Bhd, an industrial paint and coating manufacturer, on Thursday has begun taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM37.4 million.&nbsp;</p>


<p>DBS Group Holdings Ltd’s chief executive officer Piyush Gupta expects another year of record profit after Singapore’s biggest lender delivered better-than-expected results thanks to strong lending and wealth fees.</p>


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<p>Alphabet Inc paid Apple Inc US$20 billion (RM95.45 billion) in 2022 for Google to be the default search engine in the Safari browser, according to newly unsealed court documents in the Justice Department’s antitrust lawsuit against Google.</p>


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<p>ExecuJet MRO Services Malaysia, a subsidiary of luxury business aircraft maker Dassault Aviation, inaugurated its new maintenance, repair and overhaul (MRO) facility at Subang Airport on Thursday.</p>


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<p>Apple's plan to add generative artificial intelligence (AI) to its iPhones and revive sagging sales in the crucial Chinese market will be in focus on Thursday, when the tech giant is expected to report its biggest quarterly revenue decline in more than a year.</p>


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<p>Shares of Starbucks fell 15% to their lowest in nearly two years on Wednesday, after the coffee chain cut annual forecasts on persistent weak demand from inflation-weary US customers and a slower-than-expected economic recovery in China.</p>


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<p>The US Federal Reserve (Fed) held interest rates steady on Wednesday and signalled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming.</p>


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<p>The Federal Communications Commission (FCC) is moving to prevent Huawei, ZTE and other foreign companies deemed to pose US national security concerns from certifying wireless equipment, officials told <em>Reuters </em>on Wednesday.</p>


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<p>Over the last two years, Wall Street has convinced cautious equity investors to send billions of dollars into exchange-traded funds (ETFs) that use options to goose yields.</p>


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<p>New York police officers arrested almost 300 people as they broke up escalating pro-Palestinian protests at two colleges amid an outpouring of anger over the Israel-Hamas war.</p>
