<div class=newsTextDataWrapInner>SINGAPORE (Oct 20): RHB is initiating coverage on Aspen (Group) Holdings, the Penang-based property developer, at “buy” with a target price of 31 Singaporean cents, based on a 45% discount to a RNAV estimation of RM1.5 billion (S$480 million).</div>

<div class=newsTextDataWrapInner>Compared to the typical discount of 20%-30%, RHB says its higher discount reflects the group’s smaller size, shorter track record, and concentration risks.</div>

<div class=newsTextDataWrapInner>In a Friday report, analyst Vijay Natarajan highlights the group as an early mover in the emerging Batu Kawan market with its flagship Aspen Vision City (AVC) project, which is jointly developed with<a href="https://www.theedgesingapore.com/aspen-started-%E2%80%98buy%E2%80%99-penang-transformation-play" target="_blank">...(click on link for full story on theedgesingapore.com)</a> 
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SINGAPORE (Oct 20): RHB is initiating coverage on Aspen (Group) Holdings, the Penang-based property developer, at “buy” with a target price of 31 Singaporean cents, based on a 45% discount to a RNAV estimation of RM1.5 billion (S$480 million).

Compared to the typical discount of 20%-30%...

Aspen started at ‘Buy’ as a Penang transformation play

SINGAPORE (April 26): The yen was parked by a 34-year low on the dollar and decade lows on other crosses ahead of a Bank of Japan meeting where interest rates are expected to stay low, while the dollar dipped elsewhere on softer-than-expected U.S. growth data.

The euro rose 0.3% overnig...

Yen at its weakest in decades as BOJ meets

Kiribati's parliament has voted to remove Australian-born High Court Judge David Lambourne, who said on Friday the move was politically motivated and an attack on the independence of the Pacific Island nation's judiciary.

Kiribati parliament votes to remove Australian-born high court judge

Large-scale land and forest fires regularly impact 30 million to 50 million hectares of land in Southeast Asia. These fires can generate smoke clouds covering hundreds of millions of hectares for months at a time, resulting in transboundary smoke haze that has severely impacted parts of all 10 As...

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BEIJING (April 25): The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that car buyers in other markets have never seen.

China’s upstart electric brands, and even its state-owned, legacy automakers, are racing to pack tech...

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The Malaysian Research Accelerator for Technology and Innovation (MRANTI) has signed a memorandum of understanding (MOU) with Beijing Zhongguancun Science City Innovation Development Co Ltd to collaborate on several strategic initiatives aimed at fostering significant advancements in technology and innovation.

MRANTI inks deal with Beijing Zhongguancun Science City to explore strategic collaboration areas

Property values in London's Canary Wharf financial district fell by €1.2 billion (US$1.5 billion) over the past year, led by a decline in the value of its office buildings, the landlord said in annual results published on Thursday.

London's Canary Wharf sees US$1.5 bil slashed from property values

Top Amazon.com Inc executives including founder Jeff Bezos and chief executive officer Andy Jassy destroyed text messages discussing business, the Federal Trade Commission (FTC) alleged, erasing evidence the agency could have used in its antitrust case against the retail giant.

Amazon’s Bezos, Jassy deleted chats amid FTC antitrust probe

European and American investors showed converse interest in sustainable funds during the first quarter, research firm Morningstar said on Thursday, with a record US$8.8 billion (RM42.03 billion) in net withdrawals from the products in the US.

Record US$8.8 bil pulled from US sustainable funds in 1Q

Asian shares rose cautiously on Friday as markets sobered up to the idea that US rate cuts were most likely some time away, while the yen and Japanese government bonds struggled ahead of a closely watched policy decision by the Bank of Japan (BOJ).

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The first ICCA Association Impact Masterclass kicked off in Kuching on Friday with 24 Malaysian and international association leaders in line to be awarded the “Association Impact Leadership” Certificate.

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Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.

Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.

Harvey Weinstein's rape conviction overturned by top New York court

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds four entities to Investor Alert List, two being potential clones

EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.

EUPE Corp net profit surges 28.9% in 4Q, driven by strong property sales

Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

Vitrox shares on pace for worst day in 18 months as 1Q disappoints

RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.

YTL Corp eyeing to extend upside movement, says RHB Retail Research 

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.

VS Industry poised to continue bullish trajectory, says RHB Retail Research 

The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.

Tesla fires back at investor who doesn’t want pay fight in Texas

Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.

Trump advisers discuss penalties for nations that move away from the dollar

European and American investors showed converse interest in sustainable funds during the first quarter, research firm Morningstar said on Thursday, with a record US$8.8 billion (RM42.03 billion) in net withdrawals from the products in the US.

Asian shares rose cautiously on Friday as markets sobered up to the idea that US rate cuts were most likely some time away, while the yen and Japanese government bonds struggled ahead of a closely watched policy decision by the Bank of Japan (BOJ).

Alphabet announced its first-ever dividend on Thursday and a US$70 billion (RM334.43 billion) stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.

Google parent Alphabet announces first-ever dividend, shares soar

China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence (AI), an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competitor.

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Foreign states are using UK universities to “steal advantage” by covertly acquiring British intellectual property, the government warned, saying it would explore proposals to protect cutting-edge research and technology.

UK warns universities about research threat from foreign states

One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other — Sunday's short trip to arch-rivals Tottenham Hotspur.

Arsenal face derby test with title up for grabs

The Federal Communications Commission (FCC) said on Thursday it is ordering the US units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the US.