<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 31): RHB Retail Research said Poh Kong Holdings Bhd is poised for another rally after it retraced towards the support and bounced off recently.</p></div>

<div class=newsTextDataWrapInner><p>In a trading stocks note today, the research house said with volume tapering during the retracement, it is likely that the stock has found its footing.</p></div>

<div class=newsTextDataWrapInner><p>“If it manages to climb above the immediate resistance of 91 sen, a bullish bias should emerge.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“If that happens, it may climb further towards the next resistance levels of 94 sen and RM1.05.</p></div>

<div class=newsTextDataWrapInner><p>“Meanwhile, breaching below the 86.5 sen support level may invalidate this expectation,” it said.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


RHB Retail Research said Poh Kong Holdings Bhd is poised for another rally after it retraced towards the support and bounced off recently.

In a trading stocks note today, the research house said with volume tapering during the retracement, it is likely that the stock has found its footing.

Poh Kong poised for another rally, says RHB Retail Research

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.

Wall Street extends gains as rate-cut hopes linger

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 Deputy Investment, Trade and Industry Minister Liew Chin Tong on Tuesday.

Semiconductor industry offers Malaysia chance for exponential growth — deputy minister

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.

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

EVENING 5: Five things you need to know today

In today’s edition of Evening 5: 00:00 Malaysian stocks’ market cap reaches record RM2 trillion 01:31 CTOS kicks off FY2024 stronger 03:02 Sapura Energy JVs bag US$1.8 bil Petrobras contracts 03:55 PHB to independently manage AHB funds, aim to quadruple fund size 05:26 M’sia remains key market for LCC Scoot

EVENING 5: Ebullient market tops RM2 trillion, breaches 1,600

(May 7): Singapore’s Keppel Infrastructure Trust (KIT) is considering raising up to S$500 million (US$370 million) through a placement and preferential offering, according to people with knowledge of the matter.

Keppel Infrastructure plans to raise up to US$370m for Ventura Motors acquisition

The Federal Court on Tuesday unanimously dismissed an application by businessman Ricky Wong Shee Kai for leave to appeal the High Court’s decision for him to attend civil court proceedings in person.

Apex court dismisses Ricky Wong’s bid to attend court proceedings remotely

(May 7): 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.

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

Microsoft Corp has deployed a generative AI model entirely divorced from the internet, saying US intelligence agencies can now safely harness the powerful technology to analyse top-secret information.

Microsoft creates top secret generative AI service for US spies

SINGAPORE (May 7): The Monetary Authority of Singapore (MAS) has imposed a composition penalty of S$2.5 million on Swiss-Asia Financial Services (SAFS), a wealth and fund management company. SAFS was said to have breached MAS’ anti-money laundering and countering the financing of terrorism (AML/CFT) requirements.

Singapore cenbank imposes S$2.5m penalty on Swiss firm for anti-money laundering and countering terrorism-financing breaches

<p>Malaysian stocks hit RM2 trillion in market capitalisation for the first time ever on Tuesday thanks to broad gains in blue chip stocks and a slew of new listings.</p>


Malaysian stocks’ market capitalisation reaches historical high of RM2 tril

<p>KUALA LUMPUR (May 7): A 47-year-old was confirmed dead while a 26-year-old man suffered serious injuries when a huge tree came crushing down on 17 vehicles along Jalan Sultan Ismail, just outside the Concorde Hotel, during a thunderstorm and heavy rain, at about 2.19pm here Tuesday.</p>

<p>Apa...

One killed, another hurt after fallen tree smashes into cars, monorail track in KL

<p>Sime Darby Plantation Bhd (SDP) is making a foray into green industrial park, starting with the proposed development of the Kerian Integrated Green Industrial Park (KIGIP) in Perak.</p>


Sime Darby Plantation to co-develop Kerian Integrated Green Industrial Park with PNB

<p>Pelaburan Hartanah Bhd (PHB) is to part ways with Maybank Asset Management Sdn Bhd (Maybank AB) to independently manage the funds of its commercial property unit trust, Amanah Hartanah Bumiputera (AHB), as part of its seven-year business plan that aims to increase the fund size from RM5 billion to RM20 billion by 2030.</p>


PHB to independently manage AHB funds, aims to quadruple fund size to RM20 bil

<p>Bursa Malaysia Bhd on Tuesday launched the Bursa Remisier Acquisition Hub (Bursa Reach) platform designed to enhance the connection between dealer representatives and investors.</p>


Bursa Malaysia launches platform for remisiers to showcase portfolio

<p>Prime Minister Datuk Seri Anwar Ibrahim will meet with Petroliam Nasional Bhd (Petronas) this week to discuss the national oil company's project with Saudi Aramco at the Pengerang Integrated Complex (PIC) in Johor.</p>


Anwar to meet with Petronas to discuss project in Pengerang

<p>The Federal Court on Tuesday unanimously dismissed an application by businessman Ricky Wong Shee Kai for leave to appeal the High Court’s decision for him to attend civil court proceedings in person.</p>


<p>Scoot Pte Ltd, the low-cost carrier of Singapore Airlines Ltd (SIA), commenced operation of its first Embraer E190-E2 aircraft on Tuesday, reiterating the crucial role of Malaysia in its airline operations.</p>


Malaysia remains as key market for low-cost airline Scoot — CEO

<p>The US sees Iran's capacity to move its oil as reliant on service providers based in Malaysia, with oil being transferred near Singapore and throughout the region, a senior US Treasury official said on Tuesday.</p>


Iran's capacity to move oil reliant on Malaysian providers, US official says

<p>KUALA LUMPUR (May 7): Solar power specialist Pekat Group Bhd said on Tuesday that it has signed a non-binding agreement to acquire a stake in switchgears supplier EPE Switchgear (M) Sdn Bhd to expand its businesses.</p>


Pekat inks agreement to acquire stake in local switchgears supplier

<p>CIMB Group Holdings Bhd, Malaysia’s second-largest bank by assets, will likely see improvements in net interest margin and non-interest income (NII) when it reports its first-quarter results (1QFY2024) on May 31, analysts said.</p>


Analysts see CIMB reporting better net interest margins, non-interest income in 1Q

<p>(May 7):&nbsp;Princeton Digital Group secured a US$280 million green loan to help finance a US$1.5 billion data centre it’s building in southern Malaysia, a first for the Asian infrastructure operator as it aims to get that complex operational by June.</p>


Singapore-based Princeton Digital gets green loan for US$1.5b Asia AI hub in Johor

<p>Oil and gas services firm Dayang Enterprise Holdings Bhd will post a strong rebound in its first quarter (1Q) results and earnings may pick up in the coming quarters on seasonally stronger work orders and utilisation, said Phillip Capital.</p>


Dayang Enterprise to post strong rebound in 1Q earnings — Phillip Capital

<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

<h3><span style="color:#d35400;">Malaysia Smelting Corp Bhd</span></h3>

<p>Target price: <strong>RM3.60 <span style="color:#27ae60;">BUY</span></strong></p>

<div class="mt-3 imgw-300 embed-right"><a class="mobx embedimg-icon" data-desc="xxx" data-rel="ceolightbox" href="//myassets.theedgemalay...

Brokers Digest: Local Equities - Malaysia Smelting Corp Bhd, Dialog Group Bhd, Malakoff Corp Bhd, Alliance Bank Malaysia Bhd

<p>KUALA LUMPUR (May 7): Shares of construction crane manufacturer Favelle Favco Bhd closed at its all time high on Tuesday, after the group clinched four contracts for the supply of offshore and tower cranes.</p>


Favelle Favco shares hit new high on RM39.2 mil contract wins

<p>The Investment, Trade and Industry Ministry (Miti) has confirmed that an announcement on Google’s investment in Malaysia will be made in the near future.</p>


Announcement on Google's investments in Malaysia soon, says Zafrul

<p>Paris authorities have spent years readying for the almost 2 million international visitors expected for the 2024 Summer Olympics, but they may have overlooked a far bigger phenomenon now coming to the city: Taylor Swift.</p>


Taylor Swift draws five times as many US luxury travellers as the Olympics

<p>PUTRAJAYA (May 7): The Malaysian Anti-Corruption Commission (MACC) has revealed that the nation incurred losses totalling RM277 billion as a result of corruption over the past five years.</p>


Malaysia suffered RM277b in loss over five years up to 2023 due to corruption — MACC

<p>A 65% slide in VinFast Auto Ltd’s stock this year underlines the challenge faced by the electric vehicle (EV) maker backed by Vietnam’s richest man.</p>
