<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 26): CIMB IB Research has maintained its “Hold” rating on Felda Global Ventures Holdings Bhd (FGV) at RM1.99 with a higher target price of RM2.12 (from RM1.93) and said FGV’s final core net profit was in line with house estimate but above consensus.</p></div>

<div class=newsTextDataWrapInner><p>In a note today, the research house said the group returned to profitability in FY17, thanks to improved plantation earnings.</p></div>

<div class=newsTextDataWrapInner><p>“In 4Q, the group booked a net gain of RM27 million from the sale of its stake in AXA Affin.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We project 2018 earnings to be driven by higher output and sugar contribution.</p></div>

<div class=newsTextDataWrapInner><p>“We lift our earnings forecasts by 5-6% and target price to RM2.12. Maintain Hold,” it said.</p></div>


KUALA LUMPUR (Feb 26): CIMB IB Research has maintained its “Hold” rating on Felda Global Ventures Holdings Bhd (FGV) at RM1.99 with a higher target price of RM2.12 (from RM1.93) and said FGV’s final core net profit was in line with house estimate but above consensus.

In a note today, th...

CIMB Research raises target price for FGV to RM2.12

JOHOR BAHRU (May 8): Former National and Johor Darul Ta’zim (JDT) skipper Safiq Rahim became the third National footballer to be attacked within a week, although the JDT player’s attack seemed more of a warning than personal harm.

Safiq who was driving a Honda Civic car along Jalan Sri ...

Two suspects on motorcycles break Safiq Rahim's car windscreen in third attack on footballers 

As Malaysia aims to achieve high-income status, it needs to improve its human capital outcomes to match those of high-income countries.

Aspiring to high-income status: Education matters

KUALA LUMPUR (May 8): Global sales of semiconductors jumped 15.2% year-on-yera in the first quarter of 2024 to total US$137.7 billion during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).

In a statement on Tuesday, the industry association...

First-quarter global semicon sales jumped 15.2% y-o-y to  US$137.7 billion, says SIA 

(May 8): Currency markets have started pricing in elevated foreign exchange volatility around the US vote on Nov. 5, even with election day almost six months away.

That concern is particularly pronounced in options betting on the Chinese offshore yuan, with the spread between six- and t...

US election risks are starting to show up in foreign exchange markets

(May 8): China-based ByteDance Ltd. made clear it won’t comply with a new US law requiring it to sell its popular TikTok video-sharing app, setting up what likely will be a prolonged court battle pitting free-speech rights against national-security interests that could end up at the Supreme Court...

TikTok lawsuit sets stage for prolonged legal fight over US ban

(May 8): Donald Trump’s criminal trial for allegedly mishandling classified documents has been postponed indefinitely in a blow to the Justice Department’s efforts to obtain a jury verdict before November’s presidential election.

US District Judge Aileen Cannon, who is overseeing the cr...

Trump judge indefinitely postpones documents case trial

(May 8): Reddit Inc. jumped more than 10% in extended trading after reporting quarterly sales that topped analysts’ estimates, impressing investors in its first results as a public company.

Revenue increased 48% to US$243 million in the period ended March 31, the social media company sa...

Reddit gains after strong sales in first report since IPO

(May 8): The S&P 500 and Dow Jones Industrial Average both clung onto gains to ended slightly higher on Tuesday, extending recent winning streaks fueled by renewed expectations that the Federal Reserve will cut interest rates this year.

The advances pushed the S&P 500 to a fourt...

S&P, Dow end slightly up, extend closing streaks despite Disney drag

NEW YORK (May 8): Wall Street pared earlier gains on Tuesday after equity markets elsewhere rallied as investors parsed when and by how much the Federal Reserve cuts interest rates this year, while a resurgent dollar helped weaken the yen further.

MSCI's gauge of global stock performanc...

Wall St loses steam, dollar gains as investors mull rate cut timing

PARIS (May 8): Borussia Dortmund showed great composure to reach their third Champions League final after Mats Hummels' second-half goal earned the visitors a 1-0 victory against misfiring Paris St Germain for a deserved 2-0 aggregate win on Tuesday.

Hummels headed home from a corner fi...

Hummels on target as composed Dortmund knock PSG out to reach final

<p>Global oil major Shell said on Tuesday that it remains "committed to the mobility business" in Malaysia, after a report that it was in talks with Saudi Aramco to sell its gas stations in the country.</p>


Shell says it remains committed to mobility business in Malaysia

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


Sime Darby Plantation, Pekat, Siab, OCK, Sapura Energy, CTOS, Awantec, Mobilia, Prolintas, Power Root

<p>The takeover bid by Yinson Holdings Bhd’s major shareholder for Icon Offshore Bhd was made at 63.5 sen per share, as wellas 0.1 sen per warrant.</p>


Yinson's major shareholder raises Icon stake to 56.67% as MGO closes

<p>Sapura Energy Bhd’s joint venture companies (JVCos) have bagged contracts worth US$1.8 billion (RM8.53 billion) to provide engineering services via six pipe-laying support vessels.</p>


Sapura Energy's JVs win US1.8b worth of contracts in Brazil

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>KUALA LUMPUR (May 7): Following its record-breaking year in 2023, CTOS Digital Bhd posted a 25.6% year-on-year jump in its first quarter net profit this year, as it recorded higher revenue and lower tax expense following the approval of a tax incentive for its main subsidiary CTOS Data Systems Sdn Bhd (CDS).</p>


CTOS kicks off FY2024 with 25% profit jump on higher revenue, lower taxes

<p>AwanBiru Technology Bhd (Awantec) reported a net profit of RM2.14 million for its third quarter ended March 31, 2024 (3QFY2024), a significant turnaround from the net loss of RM1.99 million it incurred a year ago, as its software and services segment secured major contracts with higher revenue.</p>


Awantec reports profit in 3Q as revenue jumps on new contracts

<p>BATU KAWAN (May 7): The semiconductor industry presents Malaysia with a once-in-a-generation opportunity for exponential economic growth, and industry players are advised to capitalise on this billion-dollar sector, said&nbsp;Deputy Investment, Trade and Industry Minister Liew Chin Tong on Tuesday.</p>


Semiconductor industry offers Malaysia chance for exponential growth — deputy minister

<p>The Malaysian Communications and Multimedia Commission (MCMC) will sign a Memorandum of Understanding (MOU) with Microsoft on May 14 to develop a digitally skilled workforce, particularly in the artificial intelligence (AI) sector, through education.</p>


MCMC, Microsoft to ink MOU on digital workforce cultivation next Tuesday — deputy minister 

<p>Power Root Bhd's subsidiaries have successfully recovered trademark of its own “Ah Huat” brand for coffee and tea beverages, after reaching an amicable out-of-court settlement with its Indonesian distributor CV Ego Sun Star Sukses Mandiri (CV Ego) following an infringement wrangle that started in 2013.</p>


Power Root reclaims ‘Ah Huat’ brand in Indonesia after decade-long trademark tussle 

<p>Urusharta Jamaah Sdn Bhd (UJSB) — a special purpose vehicle established under the Ministry of Finance to rehabilitate, restructure and monetise underperforming assets transferred to it from Lembaga Tabung Haji — has emerged as a substantial shareholder in Prolintas Infra Business Trust.</p>


Urusharta Jamaah emerges as third largest shareholder in Prolintas Infra

<p>Apple Inc unveiled a new artificial intelligence-focused iPad Pro and a larger iPad Air, aiming to reinvigorate a tablet lineup that has languished over the past two years.</p>


Apple revamps iPads with AI-focused Pro model, bigger Air

<p>GCH Retail (M) Sdn Bhd, the operator of Giant hypermarkets, said the courts are still deciding on the company’s tenancy dispute with its landlord over premises it is currently occupying in Batu Caves.</p>


GCH Retail says Giant Batu Caves tenancy dispute with landlord still being decided by courts

<p>(May 7):&nbsp;Cargoes of an oil product from Russia are building up at sea as South Korean buyers turn cautious, highlighting how the invasion of Ukraine is still impacting flows more than two years later.</p>


Cargoes of Russian oil product naphtha stranded at sea as South Korea launches crackdown

<p>KUALA LUMPUR (May 8): Global sales of semiconductors jumped 15.2% year-on-yera in the first quarter of 2024 to total US$137.7 billion during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).</p>

<p>In a statement on Tuesday, the industry association...

<p>KUALA LUMPUR (May 7):&nbsp;The strategic cooperation between the Malaysian Investment Development Authority (Mida) and the Ministry of Higher Education (MOHE) is expected to catalyse the country’s industrial growth, especially in supporting the development of&nbsp;more&nbsp;talents at the global level.&nbsp;</p>


Mida’s strategic cooperation with Higher Education Ministry to accelerate local industrial growth — Zafrul

<p>Home furniture maker Mobilia Holdings Bhd is planning to issue up to 218.75 million free warrants (Warrants-B), on the basis of one Warrant-B for every four existing shares held by entitled shareholders.</p>


Home furniture maker Mobilia plans one-for-four free warrants

<p>(May 7):&nbsp;PCCW Ltd, the telecommunications group controlled by Hong Kong tycoon Richard Li, is in advanced talks to sell a significant minority stake in its fiber business to China Merchants Group Ltd, according to people familiar with the matter.</p>


Tycoon Richard Li said to near stake sale of telecom group’s fiber unit to China Merchants

<p>The Malaysian Anti-Corruption Commission (MACC) is studying allegations against Housing and Local Government Minister Nga Kor Ming with regards to his announcement of an allocation for infrastructure in Kuala Kubu Bharu (KKB) recently.</p>


MACC looking into minister’s KKB allocation announcement ahead of poll

<p>US stock indexes rose on Tuesday, extending their recent run on expectations that the Federal Reserve will cut interest rates this year, while a drop in shares of Walt Disney following the company's quarterly results limited their gains.</p>
