<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on September 11, 2017</span></p></div><div class=newsTextDataWrapInner><p><strong>Malaysia Steel Works (KL) Bhd (+ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>SHARES in Malaysia Steel Works (KL) Bhd (Masteel) (fundamental: 0.6/3, valuation: 0.9/3) triggered our momentum algorithm last Friday for the second time this year.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The counter closed half a sen higher at RM1.37, with some 15.9 million shares traded, compared with its 200-day average volume of 2.03 million shares.</p></div>

<div class=newsTextDataWrapInner><p>In June this year, Masteel said it will cancel the dividend entitlement announced on April 27, which would have seen shareholders receive a final dividend of 0.85 sen per share for the financial year ended Dec 31, 2016.</p></div>

<div class=newsTextDataWrapInner><p>The steel bar maker said this was because the resolution on the payment of the final dividend was not passed in its annual general meeting last Thursday. Only 2.47% of the total voting rights were in favour of the resolution.</p></div>

<div class=newsTextDataWrapInner><p>The stock is trading at a trailing 12-month price-earnings ratio of 11.08 times, and has a market capitalisation of RM353.5 million based on its last traded price.</p></div>


Malaysia Steel Works (KL) Bhd (+ve)

SHARES in Malaysia Steel Works (KL) Bhd (Masteel) (fundamental: 0.6/3, valuation: 0.9/3) triggered our momentum algorithm last Friday for the second time this year.

The counter closed half a sen higher at RM1.37, with some 1...

Stock With Momentum: Malaysia Steel Works (KL)

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Ford asks suppliers to cut costs in push to turn EV business profitable, memo says

KUALA LUMPUR (May 17): Shares of Hong Leong Industries Bhd (HLIB)(KL:HLIND) 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.

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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.

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


Hup Seng, SEGi, Hong Leong Industries, Pansar, Kawan Food, Malaysian Pacific Industries, S P Setia, Thong Guan, Iconic Worldwide, Pertama Digital

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<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>


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S P Setia soars to near six-year high after 39% gain in 1Q profit

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Dow hits milestone 40,000 mark as rate-cut hopes fuel rally

<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>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>


<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 

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<p>KUALA LUMPUR (May 17): Shares of Hong Leong Industries Bhd (HLIB)(KL:HLIND) 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>


<p>Shut out of US markets and under fire in Europe, China’s electric carmakers are zeroing in on the countries where they’re welcome. One of the big ones is Brazil.</p>


Chinese EV giants hammered by Biden tariff are welcome in Brazil

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<p>The first Hong Kong exchange-traded funds (ETFs) investing directly in crypto have so far failed to spark the kind of excitement that greeted rival US products, a blow for the city’s push to foster a preeminent digital-asset hub.</p>


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<p>Two voice actors sued artificial intelligence (AI) startup Lovo in Manhattan federal court on Thursday, accusing the company of illegally copying their voices and using them without permission in its AI voiceover technology.</p>


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<p>US parcel delivery giant UPS has enlisted the asset management arm of Wall Street titan Goldman Sachs to manage its US$43.4 billion (RM203.3 billion) pension fund assets in the US and Canada, the investment bank said on Thursday.</p>


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<p>A victory by Donald Trump in the Nov 5 presidential election would jeopardise a projected US$1 trillion (RM4.69 trillion) in low-carbon energy investments and carbon emissions would be one billion tonnes more by 2050 than under current policies, according to a new analysis by Wood Mackenzie published on Thursday.</p>


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<p>Donald Trump’s lawyer at his hush money trial grilled Michael Cohen for hours on the witness stand Thursday about possible inconsistencies in his testimony and his well-documented history of lying under oath.</p>


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<p>Spirit AeroSystems is laying off several hundred members of its workforce in Wichita, Kan., according to an internal memo, as the company deals with high debt and slowed production at Boeing, its key customer.</p>
