<div class=newsTextDataWrapInner>KUALA LUMPUR (Aug 20): RHB Retail Research said Frontken Corporation Bhd may rise higher after it breached above the RM1.60 threshold.</div>

<div class=newsTextDataWrapInner>In a trading stocks note today, the research house said as the stock rose above the 21-day SMA line, this has enhanced the buying momentum.</div>

<div class=newsTextDataWrapInner>“A positive bias may emerge above the RM1.60 level, with an exit set below the RM1.51 threshold.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>“Towards the upside, the immediate resistance is at the RM1.70 level. This is followed by the RM1.80 level,” it said.</div>

KUALA LUMPUR (Aug 20): RHB Retail Research said Frontken Corporation Bhd may rise higher after it breached above the RM1.60 threshold.

In a trading stocks note today, the research house said as the stock rose above the 21-day SMA line, this has enhanced the buying momentum.

“A...

Frontken Corp may rise higher, says RHB Retail Research

TikTok Shop invested more than US$400 million (RM1.91 billion) on platform safety by investing in tools and technologies to process products before and after the content reaches the virtual shelves, on top of building up a team of 7,500 people to handle the task, according to its first ever TikTok Shop Safety Report.

TikTok Shop invests US$400 mil to protecting IP rights and user safety

Escalating campus protests are forcing US President Joe Biden to walk a careful line of denouncing antisemitism while supporting young Americans' right to protest and trying to limit longer-term political damage.

As violent police crackdowns and counter-protests greet spreading demonstrations across US campuses, Biden faces sharp criticism of his Israel policy from both the left and right.

Biden faces tough balancing act as campus protests over Gaza escalate

UOA REIT, a trust which mainly manages commercial properties, said its net rental income fell 12.7% in its quarter ended March 31, 2024 (1QFY2024) due to lower occupancy rates and higher property operating expenses.

UOA REIT sees 'restrained' rental rates improvement as 1Q earnings drop 12.7%

Cocoa prices dropped again, extending a week of extreme volatility as liquidity dries up and commercial buyers hold back from buying beans.

Cocoa slumps again as buyers hold back in troubled market

Gold prices fell on Thursday as investors assessed the prospects of monetary policy easing in the US this year, as the Federal Reserve indicated that the progress on inflation has stalled and interest rates would stay higher for longer.

Spot gold fell 0.7% at US$2,301.15 per ounce by 0943 GMT.

Gold falls as investors evaluate US rate cut prospects

The High Court on Thursday dismissed Tengku Datuk Zafrul Abdul Aziz's application to file an affidavit with regards to Datuk Seri Najib Razak's judicial review application to unearth an addendum to his pardon order that detailed he was to spend the remainder of his sentence under "house arrest".

Court rejects Zafrul’s bid to file affidavit on Najib’s ‘house arrest’ order

ArcelorMittal SA, the world’s biggest steelmaker outside of China, remains positive on the medium to long-term outlook for demand after first-quarter (1Q) earnings beat estimates.

ArcelorMittal positive on steel outlook after impressive 1Q earnings 

Japanese officials may have spent some ¥3.66 trillion (RM112.4 billion) on Wednesday to pull the yen back from near 34-year lows, Bank of Japan data suggested on Thursday.

Japan's May 1 intervention may have cost US$23.6b, BOJ data suggests

Mechanical and electrical engineering services provider Pasukhas Group Bhd has secured a RM56.98 million contract to build a data centre in Selangor.

Pasukhas secures RM57m contract from US company to build data centre in Selangor 

India's palm oil imports jumped by 41% in April from the previous month to reach the highest level in three months, as easing prices prompted refiners to increase purchases, five dealers told Reuters.

India's April palm oil imports jump 41% to three-month high, say dealers

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.

Microsoft to invest US$2.2 bil in Malaysia over next four years on cloud, AI

Protasco Bhd, which has businesses ranging from hotel to engineering, said on Thursday it has received an offer to buy its unit Ikram Education Sdn Bhd which owns the Infrastructure University Kuala Lumpur (IUKL).

Protasco gets offer from HK firm to buy its university unit

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).

Luno launches two new digital assets

Feytech Holdings Bhd's initial public offer (IPO) on Main Market of Bursa Malaysia is offering&nbsp;252.94 million shares at 80 sen apiece.&nbsp;

Feytech's Main Market IPO to raise over RM201m

Shares of Bursa Malaysia Bhd climbed to its highest in more than three years after the stock exchange operator reported better-than-expected results that prompted at least two analyst upgrades.

Bursa Malaysia climbs to over three-year high after above-view 1Q

Subang Airport, officially known as Sultan Abdul Aziz Shah Airport, will likely be able to handle jet aircraft by the third quarter this year, according to Transport Minister Anthony Loke.

Subang Airport’s jet ops likely to start in 3Q, also eyes business jets — Loke

Apex Securities Bhd has recommended investors to “subscribe” to ACE Market-bound Farm Price Holdings Bhd at an initial public offering (IPO) price of 24 sen and a fair value of 42 sen by pegging financial year 2025 (FY2025) forecast core earnings per share of 3.2 sen to price-earnings (PE) of 13 times (75% potential upside from IPO price).

Apex Securities advises investors to subscribe to ACE Market-bound Farm Price with fair value of 42 sen

The additional investment by Microsoft amounting to US$2.2 billion or RM10.5 billion in the country over the next four years is the largest single investment by the company in its 32 years in Malaysia.

Microsoft’s new US$2.2b outlay is company’s largest single investment in Malaysia, says Anwar

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;

Smart Asia Chemical starts taking orders for ACE Market IPO to raise RM37.4 mil

Shares of Duopharma Biotech Bhd surged more than 9% during early trade on Thursday following news of the pharmaceutical company securing supply contracts worth RM578.09 million in total.

Duopharma Biotech surges over 9% after RM578m contract news

The High Court on Thursday dismissed Tengku Datuk Zafrul Abdul Aziz's application to file an affidavit with regards to Datuk Seri Najib Razak's judicial review application to unearth an addendum to his pardon order that detailed he was to spend the remainder of his sentence under "house arrest".

Yinson Production, the offshore production business unit of Yinson Holdings Bhd, has closed the limited recourse term loan facility of up to US$1.3 billion (RM6.2 billion) for the pre- and post-delivery financing of the Agogo floating, production, storage and offloading (FPSO) vessel, which will be deployed in Angola.

Yinson unit secures single largest term loan of US$1.3b to finance Agogo FPSO delivery

Shares of Ge-Shen Corp Bhd rose as much as 14.91% to a new record high of RM4.47 on Thursday, following the emergence of Chin Hin Group’s Chiau family as its second largest shareholder.

Ge-Shen shares hit new high on emergence of new substantial shareholder

Latest data signalled further downbeat trends across the Malaysian manufacturing sector at the start of the second quarter of 2024.

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.

Overall manufacturing conditions in Malaysia ease to lesser extent, says S&P Global

US President Joe Biden included ally Japan along with rivals China and Russia in a list of countries he called “xenophobic” in a speech at a campaign fundraising event in Washington.

Biden calls ally Japan ‘xenophobic’ along with China, Russia

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 Reuters on Wednesday.

US moves to bar Huawei, other Chinese telecoms from certifying wireless equipment

Malaysia’s biggest port operator Westports Holdings Bhd said on Thursday its net profit rose 11.4% year-on-year (y-o-y) in the first quarter, thanks to higher container revenue, coupled with higher finance income and share of results of a joint venture (JV).

Westports' 1Q net profit up 11% on higher container revenue, finance income and share of results of JV

theedgemalaysia.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close on Thursday. Two stocks showed positive momentum while five stocks showed negative momentum.

GHL Systems, Oppstar, Bursa Malaysia, Country View, Fiamma, Marco, Tambun Indah 

Smart Asia Chemical Bhd, en route to Bursa Malaysia’s ACE Market, expects its new plant in Perak to triple its production capacity while allowing the paint and coating manufacturer to be closer to its clients.

Smart Asia Chemical to triple capacity with new plant from IPO proceeds

South Korea's SK Hynix said on Thursday its high-bandwidth memory (HBM) chips used in AI chipsets were sold out for this year and almost sold out for 2025 as businesses aggressively expand artificial intelligence services.