<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 25): CIMB IB Research has maintained “Hold” on KESM Industries Bhd at RM17.10 with a higher target price of RM18.50 (from RM17.50) and said KESM’s FY7/18 core net profit came in 4% above house estimate but 3% below Bloomberg consensus estimates.</p></div>

<div class=newsTextDataWrapInner><p>In a note Sept 24, the research house said KESM’s core net profit in FY7/18 fell 11% year-on-year due to lower utilisation following wafer supply issues at its customers and higher depreciation and tax expenses.</p></div>

<div class=newsTextDataWrapInner><p>“We project stronger earnings in FY19F due to improving wafer supplies but remain concerned that the escalating trade situation may affect demand.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We cut FY19-20F EPS by 9-13% for higher effective tax and lower utilisation.</p></div>

<div class=newsTextDataWrapInner><p>“Maintain Hold with a higher RM18.50 target price as we roll over to end-2019F,” it said.</p></div>


KUALA LUMPUR (Sept 25): CIMB IB Research has maintained “Hold” on KESM Industries Bhd at RM17.10 with a higher target price of RM18.50 (from RM17.50) and said KESM’s FY7/18 core net profit came in 4% above house estimate but 3% below Bloomberg consensus estimates.

In a note Sept 24, the...

CIMB Research raises target price for KESM to RM18.50

The Consulate General of Malaysia in Jeddah, Saudi Arabia urged all Malaysian nationals intending to perform haj this year to ensure they possess a valid haj visa or permit before embarking on their journey to the kingdom.

Malaysians urged to comply with haj visa regulations to avoid legal repercussions in Saudi Arabia

A summary of how key Bursa Malaysia indices and the ringgit performed on Friday.

FBM KLCI rises 0.34% to 1,616.62 on May 17, 2024

Kawan Renergy Bhd’s (KL:KENERGY) said investors have snapped up the 27.5 million shares it made available to the public for its initial public offering (IPO) at 30 sen per share.

Kawan Renergy's 27.5 mil IPO shares for public oversubscribed by 95 times 

Any official discussion with Singapore on the Kuala Lumpur-Singapore High Speed Rail (HSR) project will only be held after obtaining approval from the Cabinet, Transport Minister Anthony Loke Siew Fook said.

HSR discussions with Singapore only after obtaining Cabinet approval, says Loke

Luxury group Cartier-owner Richemont announced a rejig of its top management on Friday, promoting the head of its Van Cleef & Arpels jewellery brand to group chief executive, saying it was returning to a more traditional management set-up.

Luxury group Richemont makes Van Cleef jewellery boss new CEO

KUALA LUMPUR (May 17): The Malaysia External Trade Development Corporation (Matrade) has generated a total sales of RM250 million through an export acceleration mission (EAM) to Egypt and Libya.

Matrade secures RM250m in sales from trade mission to Egypt, Libya

An operator of a Musang King durian orchard and talapia fish pond pleaded not guilty in the Sessions Court here on Friday to a charge of unlawful occupation of government land.

Musang King orchard operator charged with unlawful occupation of govt land

The empirical study on the separation of the attorney general (AG) and public prosecutor’s (PP) powers is expected to be completed this year, says Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said.

Azalina: Empirical study on separation of public prosecutor, AG’s powers to be completed this year

ASTANA, Kazakhstan (May 17): Kazakhstan has agreed to give opportunities to Malaysian companies to explore various fields in the Central Asian country, including mining and renewable energy.

Anwar: Kazakhstan agrees to let Malaysian companies explore opportunities in various fields

Forty caretaker senators on Friday petitioned Thailand's Constitutional Court to dismiss Prime Minister Srettha Thavisin over a cabinet appointment which they say breaches the constitution.

Forty Thai senators seek PM's dismissal over cabinet appointment

<p>Malaysia’s economic growth accelerated faster than expected in the first three months of 2024, thanks to higher household spending, stronger investment activities, improvement in labour market conditions, and higher exports and tourist arrivals.</p>


Malaysia's 1Q GDP beats consensus estimates, grows 4.2% y-o-y

<p>The male suspect who was shot dead in the attack at the Ulu Tiram Police Station here earlier on Friday is believed to be a member of Jemaah Islamiyah.</p>


Suspect in Ulu Tiram police station attack believed to be member of Jemaah Islamiyah, says IGP

<p>Two policemen were killed and another was injured in an attack on the Ulu Tiram Police Station early on Friday morning.</p>

<p>State police chief Commissioner M Kumar confirmed the incident, stating that it occurred at 2.45am and involved a masked intruder armed with pistols and a machete.</p>


Two policemen killed in attack at Ulu Tiram police station

<p>KUALA LUMPUR (May 17): Shares of S P Setia Bhd (KL:SPSETIA) soared to their highest in nearly six years on Friday, as analysts continue to advise investors to buy the stock, even as its stock price has nearly doubled so far this year.</p>


S P Setia soars to near six-year high as analysts bet on extended rally

<p>BWYS Group Bhd has signed an agreement with M&amp;A Securities Sdn Bhd to underwrite the sheet metal products manufacturer and scaffoldings supplier's upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.</p>


BWYS Group signs underwriting agreement with M&A Securities for ACE Market IPO

<p>Hong Leong Investment Bank (HLIB) Research said the anticipated rebound in construction activities, particularly in railway projects, is expected to generate more contract opportunities for companies like Econpile Holdings Bhd (KL:ECONBHD).</p>


Econpile to ride on construction upcycle, says HLIB 

<p>Shares of Hup Seng Industries Bhd (KL:HUPSENG) climbed to their highest in nearly three years after the biscuit maker reported that its net profit surged 45% year-on-year in the first quarter.</p>


Hup Seng shares climb to near three-year high after 1Q profit surge

<p>PPB Group Bhd (KL:PPB) is planning to invest RM327 million in its film exhibition and distribution segment, which houses Golden Screen Cinemas, over the next five years.</p>


PPB Group to invest RM327 mil in film segment over next five years

<p>Global stocks eased on Friday after Federal Reserve officials hinted US interest rates may not fall any time soon, while commodities rallied on the back of optimism over a series of measures in China to stabilise its beleaguered property sector.</p>


Stocks drift, China unveils 'historic' steps for property

<p>KUALA LUMPUR (May 17): Shares of Malaysian Pacific Industries Bhd (KL:MPI) climbed to their highest in 15 months, as analysts flagged stronger quarters ahead following the semiconductor company’s return to the black.</p>


Malaysian Pacific Industries climbs to 15-month high on return to profit

<p>KUALA LUMPUR (May 17): Sarawak Cable Bhd (KL:SCABLE) said that the memorandum of agreement (MOA) between the company and Serendib Capital Ltd (Serendib) had been validly terminated.</p>


Sarawak Cable says has found alternative white knight to Serendib

<p>KUALA LUMPUR (May 17): Shares of Hong Leong Industries Bhd (KL:HLIND), or HLI, climbed to near their record high on Friday, after the motorcycle assembler reported a 51% year-on-year jump in net profit for the three months ended March 31, 2024.</p>


Hong Leong Industries’ shares retest all-time high after profit jump

<p>theedgemalaysia.com highlighted three stocks with positive momentum and eight stocks with negative momentum at Bursa Malaysia's afternoon close on Friday. &nbsp;</p>


Datasonic, Fiamma, Wong Engineering, Oppstar, Southern Acid, DKSH, BIG Industries, SKP, Infraharta, Beshom, KYM

<p>The International Monetary Fund (IMF) criticised the Biden administration’s decision to aggressively raise tariffs on some Chinese goods, underscoring its warning that tensions between the world’s top two economies risk hurting global trade and growth.</p>


IMF knocks Biden’s China tariffs as risk to US, world growth

<p>Rakuten Trade said Poh Kong Holdings Bhd (KL:POHKONG) is back on the radar after it pushed out from the pennant pattern with a long white candle on Thursday.</p>


Poh Kong back on the radar, says Rakuten Trade 

<p>(May 17):&nbsp;Suriname’s discovered oil resources now total more than 2.4 billion barrels of crude and liquids, and the nation has more than 12.5 trillion cubic feet of gas, according to Wood Mackenzie.</p>


Petronas-discovered Suriname oil resources seen totalling 2.4 billion barrels

<p>The Ministry of Transport (MOT) fully supports Khazanah Nasional Bhd and the Employee Provident Fund’s (EPF) move to privatise Malaysia Airports Holdings Bhd (KL:AIRPORT), or MAHB, as it will enable the implementation of strategic decisions more expediently, according to its minister Anthony Loke Siew Fook.</p>


MOT supports MAHB privatisation, to enable expedient strategic decisions — Loke

<p>Wireless carrier Maxis Bhd (KL:MAXIS) said on Friday its net profit rose 10% year-on-year (y-o-y) in the first quarter, thanks to higher service revenue and cost control.</p>


Maxis posts 10% rise in 1Q net profit on higher service revenue, declares four sen dividend

<p>Prime Minister Datuk Seri Anwar Ibrahim stressed that claims that 25% of the remaining shares in Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT) would be owned by a pro-Zionist company are baseless.</p>


Anwar: Opposition's claims that pro-Israel company will own MAHB shares only to incite hatred

<p>Selangor opposition leader Datuk Seri Mohamed Azmin Ali said on Friday that there was no denial from Agriculture and Food Security Minister Datuk Seri Mohamad Sabu (Mat Sabu) or businessman Deepak Jaikishan regarding their trip to India, or Deepak’s involvement in procuring a direct negotiation contract with the government for his brother’s company, namely J&amp;E Advance Tech Sdn Bhd, to import eggs into Malaysia.</p>
