<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 10): CGS-CIMB Research has maintained its “hold” rating on Karex Bhd at 38.5 sen with an unchanged target price of 40 sen. It said the condom maker&nbsp;should see a recovery in condom sales in its&nbsp;fourth financial quarter ending&nbsp;June 30, 2022 (4QFY22), thanks to the lifting of lockdown restrictions globally as well as new customer acquisitions.</p></div>

<div class=newsTextDataWrapInner><p>In a note on Monday (May 9), the research house said it expects weaker quarter-on-quarter earnings in 3QFY22 due to production disruptions, with higher selling prices and increase in condom sales from 4QFY22.</p></div>

<div class=newsTextDataWrapInner><p>CGS-CIMB Research said&nbsp;Karex is still seeing production disruptions leading to lower output (utilisation rate in 3QFY22F was estimated at 55-60%&nbsp;versus 65-70% pre-Covid-19 pandemic).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>It said this is a result of issues such as positive Covid-19 cases among employees, freight delays for shipment of raw material&nbsp;and labour shortages.</p></div>

<div class=newsTextDataWrapInner><p>“However, Karex is confident of raising its production output from 4QFY22 onwards, backed by fewer Covid-19 restrictions such as no social distancing or mandatory quarantine for close contacts," it added.</p></div>


KUALA LUMPUR (May 10): CGS-CIMB Research has maintained its “hold” rating on Karex Bhd at 38.5 sen with an unchanged target price of 40 sen. It said the condom maker should see a recovery in condom sales in its fourth financial quarter ending June 30, 2022 (4QFY22), thanks to the l...

Karex not out of the woods yet, says CGS-CIMB

KUALA LUMPUR (April 30): Shares of Nestle Malaysia Bhd rose to its highest in eight months after reporting results that came in slightly ahead of expectations, though analysts flagged sales pressure ahead for the food-and-drink company.

Nestle Malaysia shares rise to eight-month high after 1Q results

The US Treasury said on Monday it expects to borrow US$243 billion (RM1.1 trillion) in the second quarter, US$41 billion more than the January estimate largely due to lower cash receipts, partially offset by a higher cash balance at the beginning of the quarter.

US Treasury to borrow US$243b in 2Q, higher than January forecast

Boeing on Monday tapped debt markets to raise US$10 billion (RM47.6 billion), after the US planemaker burned US$3.93 billion in free cash during the first quarter as production of its best-selling jet declined, sources familiar with the matter said.

Boeing taps debt market to raise US$10b — Reuters

Reinold Geiger, the billionaire owner of L’Occitane International SA, wants to take the skin-care company private in a move that could end its 14-year run on the Hong Kong stock exchange.

L’Occitane chairman launches buyout at €6b valuation

Shares in Oppstar Bhd rose to a five-month high on Tuesday after the integrated circuit (IC) design service provider announced it is partnering with South Korea’s tech giant Samsung Electronics Co Ltd to produce industrial ICs.

Oppstar surges to five-month high after announcing Samsung tie-up

Margins at China's Big Five lenders shrank during the first quarter as banks came under pressure to support cash-starved property developers while loan demand remained weak.

China's Big Five lenders see margins shrink in 1Q

After the biggest first quarter for global upstream dealmaking in five years, the industry could see another US$150 billion (RM714.6 billion) of merger and acquisition (M&A) deals in the remainder of 2024, according to Rystad Energy Research.

Global upstream deals valued at US$150b seen fuelling M&A activity in 2024 — Rystad

China's manufacturing and services activity both expanded at a slower pace in April, official surveys showed on Tuesday, suggesting some loss of momentum for the world's second-biggest economy at the start of the second quarter.

China's factory, services activity growth slows in April

Australian retail sales surprisingly fell in March as households faced the prospect of higher borrowing costs for longer. The currency declined.

Australian retail sales unexpectedly decline, currency drops

Rapid disinflation and resilient growth will help Asia-Pacific achieve a "soft landing" even though economic expansion is expected to slow over the next two years, the International Monetary Fund (IMF) said on Tuesday.

Asia-Pacific economies headed for 'soft landing', says IMF

<p>KUALA LUMPUR (April 30): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday (April 29):</p>

<p>QSR Brands and KFC Malaysia confirmed it suspended operations of its outlets to manage costs, amid news that over 100 of its outlets have ceased...

QSR Brands, Nestle, ViTrox, LPI Capital, Ajiya, YTL REIT, Tex Cycle, Gadang, HHRG, Sapura, MSC, Capital A, BSL, Oppstar

<p>YNH Property Bhd on Monday made a belated announcement about transactions involving its 6.49-acre land in Segambut, which it had inked an agreement in September last year to sell for RM59.58 million but revoked last week to have Chin Hin&nbsp;Group Property Bhd develop the plot in return for at least RM52 million.</p>


YNH makes belated announcement about transactions involving its Segambut land

<p>The Genting group companies' operations have recovered from the impact of the Covid-19 pandemic, and its earnings are expected to further grow, albeit more gradually, according to S&amp;P Global Ratings.</p>


S&P: Genting's operations have recovered from impact of pandemic, earnings to further grow

<p>Kossan Rubber Industries Bhd has clarified that the fire at a paint factory in Meru Industrial Park, Klang on Monday (April 29) had no impact on operations at its rubber glove factories.</p>


Fire outbreak at paint processing plant 'has nothing to do with Kossan Rubber Industries', says MD

<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP) opened at 63 sen in its Main Market debut on Tuesday, up 1.6% from its initial public offering (IPO) price of 62 sen.</p>


MKH Oil Palm rises 1.6% to 63 sen in Main Market debut 

<p>China needs to further reduce its Treasuries holdings, in part to lessen the potential leverage of Washington over its Asian rival, according to a paper published by a Chinese state think tank.</p>


China’s US Treasury holdings becoming ‘hostages,’ academic warns

<p>Elon Musk was in dire need of a quick win for Tesla Inc. If that meant flying to China a week after standing up Indian Prime Minister Narendra Modi, then so be it.</p>


Musk’s trip to Beijing after India snub shows power of China

<p>Integrated circuit (IC) design service provider Oppstar Bhd is collaborating with South Korea’s tech giant Samsung Electronics Co Ltd for the production of industrial ICs manufactured using Samsung’s 14 nanometre (nm) FinFET technology foundry process.</p>


Oppstar partners with Samsung to produce industrial integrated circuits

<p>It’s “better to ask for forgiveness than permission” when it comes to complying with the law, the billionaire founder of the Binance cryptocurrency exchange once told his team, according to the US government.</p>


Binance and CZ’s fortunes are set to grow, jail or no jail 

<p>HHRG Bhd was slapped with a RM58.18 million suit by Ooi Chieng Sim, in relation to a loan given out by the former executive chairman to the company.&nbsp;</p>


HHRG faces RM58 mil suit over alleged default of loan by ex-chairman

<p>Printed circuit board (PCB) company BSL Corp Bhd saw Doris Wong Sing Ee emerge as its substantial shareholder after Wong acquired 97 million BSL shares, raising her stake in the company to 7.104%.</p>


Metronic Global ED Doris Wong emerges as substantial shareholder of BSL

<p>Amy Wang was counting on a 100,000 yuan (RM65,743) subsidy promised by authorities in the eastern Chinese city of Weifang to fit and furnish an apartment she bought two years ago. Still waiting for the money, she is yet to move in.</p>


Strained Chinese cities struggle to pay home buying subsidies

<p>Samsung Electronics Co’s earnings surged after the semiconductor business returned to profitabilty for the first time since 2022, boosted by broad spending on artificial intelligence development.</p>


Samsung’s profit surges after AI boom reverses chip losses 

<p>Elon Musk’s net worth is soaring after it plunged to the lowest level in almost a year.</p>


Musk’s fortune soars by most since before Twitter purchase

<p>RHB Investment Bank Research has maintained its “overweight” rating on the rubber products sector and said it expects glove makers to record positive quarter-on-quarter (q-o-q) net profit growth in the upcoming March quarterly reporting season.</p>


RHB sees glove makers recording positive q-o-q net profit growth in March earnings

<p>US stocks ended higher on Monday, with sharp gains for Tesla and Apple leading the way, as investors looked toward what the Federal Reserve would say about the interest rate outlook after its policy meeting this week.</p>


Wall Street stocks finish higher as investors focus on Fed moves

<p>Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Sin-Kung Logistics Bhd at 17 sen, based on 15x price earnings ratio on FY2024F of 1.1 sen.</p>


HLIB values ACE Market-bound Sin-Kung Logistics at 17 sen

<p>As projections for all the copper needed in the clean-energy transition help send prices of the wiring metal to two-year highs, a new report highlights the risks to future metal supplies from climate change.</p>


Half of all copper mining at drought risk with climate change

<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


SC adds two potential clones to Investor Alert List

<p>Paramount Global replaced CEO Bob Bakish with a trio of executives, the company announced on Monday in the middle of talks with David Ellison's Skydance Media about a possible merger.</p>
