<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 19): CIMB IB Research has maintained its “Hold” rating on Mynews Holdings Bhd (formerly Bison Consolidated Bhd) at RM2.96 with a higher target price of RM3 (from RM2.84) and said Mynews closed off its FY17 with core net profit of RM24 million, meeting expectations at 96% of house full-year estimate and 97% of consensus forecast.</p></div>

<div class=newsTextDataWrapInner><p>In a note Dec 18, the research house said Mynews met its target of opening 70 stores in FY17 and aims to open 90 stores in FY18F, which should boost its earnings growth.</p></div>

<div class=newsTextDataWrapInner><p>“While we are optimistic on the group’s tie-up with its Japanese partners for the upcoming food preparation facility, we think that growth prospects are priced in now.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Maintain Hold with a higher end-2018F target price of RM3.00 after adjusting for the group’s full-year numbers,” it said.</p></div>

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KUALA LUMPUR (Dec 19): CIMB IB Research has maintained its “Hold” rating on Mynews Holdings Bhd (formerly Bison Consolidated Bhd) at RM2.96 with a higher target price of RM3 (from RM2.84) and said Mynews closed off its FY17 with core net profit of RM24 million, meeting expectations at 96% of hous...

CIMB IB Research raises target price for Mynews to RM3

The Court of Appeal has upheld a High Court's decision to quash the Royal Malaysian Customs Department's bill of demand for Petroliam Nasional Bhd to pay RM14.8 million in goods and services tax (GST) that it alleged the national oil company had underpaid.

Court of Appeal upholds decision to quash Customs Dept’s demand for RM14.8m GST from Petronas

Societe Generale SA equities traders outshone their bond-trading counterparts for a fourth straight quarter, with revenue from the unit helping the French bank beat estimates for profit in the three months through March.

Societe Generale profit beats estimates as equities help lift results

KUALA LUMPUR (May 3): Muar Member of Parliament (MP) Syed Saddiq Syed Abdul Rahman is seeking a judicial review against Prime Minister Datuk Seri Anwar Ibrahim and the government over RM730,300 in allocations for his constituency.

Syed Saddiq seeks judicial review against PM, govt over unpaid allocations

In a majority decision, the Federal Court has dismissed a woman's challenge to change her religious status as a Muslim.

Top court dismisses woman's attempt to change religious status

PARIS (May 3): The United Nations food agency's world price index rose for a second consecutive month in April, as higher meat prices and small increases in vegetable oils and cereals outweighed declines in sugar and dairy products.

World food prices up in April for second month, says UN agency

Sony Pictures Entertainment (SPE) and Apollo Global Management have made a US$26 billion (RM123.2 billion) cash offer for Paramount Global, the Wall Street Journal reported.

Sony and Apollo submit USUS$26b Paramount offer — WSJ 

Global fast food giants may have to dole out steeper promotions to lure inflation-hit customers who are increasingly opting to eat at home, following weak sales from the likes of McDonald's and Starbucks this week.

US fast-food chains may have to amp up promotions as more people eat at home

OSLO (May 3): Norway's central bank kept interest rates on hold at 4.50% on Friday, as unanimously expected by analysts, and said a tight monetary policy stance may be needed for somewhat longer than planned in order to curb inflation.

Norway keeps rates on hold, may extend tight policy

LONDON (May 3): British supermarket Asda has refinanced over  £3.2 billion (RM18.9 billion) of debt, pushing out the majority of its maturities into the next decade, it said on Friday.

Asda, the UK's third largest grocer, is owned by brothers Zuber an...

UK supermarket Asda refinances over US$4b of debt

KUALA LUMPUR (May 3): There will be no water supply cut for multiple areas in Selangor, as the Sungai Selangor Water Treatment Plant (WTP) Phase 1 (SSP1) maintenance works originally slated to be carried out from May 14 to 16 have been postponed.

Air Selangor: Phase 1 of river water treatment plant’s maintenance works postponed, no supply cut

<p>Malaysia’s planned increase in civil servant salaries will boost earnings of RCE Capital Bhd, which mainly provides consumer financing to government employees, Maybank Investment Bank (Maybank IB) said and upgraded the stock to ‘buy’.</p>


Higher civil servant salaries will boost RCE Capital's earnings, says Maybank IB

<p>KUALA LUMPUR (May 3): Digital Nasional Bhd (DNB) will hold a meeting next week to review due diligence findings on the 5G network rollout, Digital Minister Gobind Singh Deo said on Friday.</p>


Digital Nasional to meet next week to discuss due diligence on 5G network — minister

<p>Shares of Ajinomoto (Malaysia) Bhd surged to their highest in nearly six years after the food and seasoning company announced the ex-date for its special dividend.</p>


Ajinomoto Malaysia surges to highest in nearly six years

<p>Naza Corp Holdings Sdn Bhd has completed the acquisition of a 100% stake in Berjaya Enviro Holdings Sdn Bhd (BEnviro) from Berjaya Corp Bhd for RM700 million in cash, marking its entry into the green economy with a focus on municipal and scheduled waste, as well as the waste-to-energy sector.</p>


Naza completes acquisition of waste management company from Berjaya for RM700m cash 

<p>Malaysia’s commitment to building its 5G network has given the country a world-class digital infrastructure, according to Telefonaktiebolaget LM Ericsson president and chief executive officer Börje Ekholm.</p>


Ericsson CEO hails Malaysia’s ‘world-class’ digital infrastructure

<p>KUALA LUMPUR (May 3): Fraser &amp; Neave Holding Bhd (F&amp;N) said on Friday that the company will focus on fixed asset optimisation over the next three years, after having allocated more than RM3 billion in capital expenditure (capex) and development of its integrated farm in Gemas.</p>


F&N to focus on sweating off its assets after investing RM3b in capex and development

<p>Global shares were firmer on Friday ahead of key US non-farm payroll numbers, underpinned by reassurance from the Federal Reserve that the next move in rates would be down.</p>


Stocks and yen steady ahead of US payrolls 

<p>KUALA LUMPUR (May 3): Engineering firm UUE Holdings Bhd said on Friday that it has signed an agreement with M&amp;A Securities to underwrite its initial public offering (IPO) on the ACE Market.</p>


UUE signs underwriting deal with M&A Securities for ACE Market IPO

<p>Malayan Cement Bhd will likely report strong third quarter earnings when the company reports its results by this month-end, as volume and average selling prices stay high, CGS International said.</p>


Malayan Cement likely to report strong 3Q results, says CGS International

<p>Hong Kong stocks are on their longest-winning streak since 2018, adding to signs that a recovery in one of the worst-performing markets last year is well underway.</p>


Hong Kong stocks are on their longest winning streak since 2018

<p>The rally in tech heavyweights extended into late hours after better-than-estimated results from&nbsp;Apple Inc, with the iPhone maker also raising its dividend and announcing plans to buy back more stock.</p>


Tech jumps in late hours on Apple’s solid outlook

<p>Ranhill Utilities Bhd has declared a share dividend distribution on a basis of 0.5 share for every 100 shares held in the utility group.</p>


Ranhill declares share dividend distribution

<p>Individuals who have fallen victim to fraudulent investment schemes risk losing the right to recover their money even after going through the legal avenue.</p>


Bukit Aman: Victims of investment scams won’t be able to recoup losses

<p>The Penang High Court on Friday dismissed former Penang chief minister Lim Guan Eng, his wife Betty Chew Gek Cheng, and businesswoman Phang Li Koon’s attempt to strike out their graft and money-laundering charges.</p>


Double jeopardy does not apply, Penang court rules in dismissing Guan Eng, wife and Phang's challenge on graft charge

<p>The country faces higher imports of gas energy for electricity use in the coming years if it continues to depend on the commodity without efforts to accelerate the transition to more sustainable energy.</p>


Rafizi warns of hike in gas imports for electricity without switch to sustainable energy

<p>Türkiye&nbsp;stopped all exports and imports to and from Israel as of Thursday, the Turkish trade ministry said, citing a "worsening humanitarian tragedy" in the Palestinian territories.</p>


Türkiye halts all trade with Israel, cites worsening Palestinian situation

<p>As the latest purchasing managers’ index (PMI) data indicated a softer contraction in Malaysia's manufacturing sector in April, economists are expecting the country's manufacturing condition to gradually recover in the near term, though it remains slightly behind regional peers.</p>


Malaysia's manufacturing sector to recover gradually despite lagging behind regional peers — economists

<p>Lotte Chemical Titan Holding Bhd (LC Titan) is expected to face widening core losses in the second quarter ending June 30, 2024 (2QFY2024) from lower sales volume and weak product spread, according to TA Securities.</p>


Lotte Chemical Titan to face widening losses in 2QFY2024 on lower volume, weak product spread, says TA Securities

<p>KUALA LUMPUR (May 3): KL Wellness City Sdn Bhd, through KL International Hospital Sdn Bhd, has launched KL International Tertiary Hospital as part of the first phase of the KL Wellness City township in Bukit Jalil here on Thursday (May 2).</p>


KL Wellness City launches tertiary hospital as part of the township’s first phase

<p>Frontken Bhd expects a stronger performance in the second half of this year (2HFY2024) after its first quarter results came in within expectations, according to Philip Capital.</p>
