<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily, </em>on October 15, 2015.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><strong>MALAYSIAN RESOURCES CORP BHD (-ve)</strong></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>PROPERTY and infrastructure developer MRCB (Fundamental: 1.3/3, Valuation: 2/3), which triggered our momentum alert for the first time, rose 3.4% to close at RM1.21 on Tuesday.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Last Tuesday, MRCB completed the disposal of its 51% interest in Nu Sentral Sdn Bhd for RM119.8 million, as part of its plan to monetise its non-core assets and focus on the core businesses.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Last month, the 50:50 joint venture between MRCB and George Kent was appointed as the project delivery partner for the RM9 billion LRT3 project. The project delivery partner stands to get 6% of the total contract value as management fees.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>For 1H2015, revenue grew 76.2% y-y to RM934.5 million while net profit expanded an outsized 128.3% to RM298 million. The increase was attributed to the completion of the Q Sentral development and the sale of Platinum Sentral, in addition to other on-going development projects including the Sentral Residences and 9 Seputeh.</p></div>

<div class=newsTextDataWrapInner><p><img alt="mrcb_swm_fd151015_theedgemarkets" src="http://edgemarkets.s3-ap-southeast-1.amazonaws.com/pictures/mrcb_swm_fd151015_theedgemarkets.png" style="height:925px; margin:5px; width:666px" /></p></div>


This article first appeared in The Edge Financial Daily, on October 15, 2015.

 

MALAYSIAN RESOURCES CORP BHD (-ve)

PROPERTY and infrastructure developer MRCB (Fundamental: 1.3/3, Valuation: 2/3), which triggered our momentum alert for t...

Stock With Momentum: MRCB

(April 17): Take-Two Interactive Software Inc., the company behind the Grand Theft Auto video games, plans to fire 5% its workforce and drop several projects as part of a cost-savings drive.

The company sees expenses of up to US$200 million as part of the effort, including as much as US...

‘Grand Theft Auto’ maker to fire 5% of staff, drop some projects

(April 17): Canada will raise capital gains taxes on businesses and wealthy individuals to help pay for tens of billions in new spending aimed at making housing more affordable and improving the lives of young people.

Finance Minister Chrystia Freeland said the government will tax Canad...

Canada hikes capital gains tax to raise billions for housing

(April 17): The AI-driven boost in power consumption is going to be big for nuclear energy, according to Joe Dominguez, chief executive officer of Constellation Energy Corp.

The largest US operator of nuclear plants is the third-best performer on the S&P 500 Index this year. The 60%...

AI boom needs nuclear, Constellation Energy CEO says

NEW YORK (April 17): Wall Street see-sawed to a mixed close on Tuesday as rising U.S. Treasury yields and elevated geopolitical worries counteracted a generally positive string of first-quarter corporate results.

While the S&P 500 and the Nasdaq ended the session modestly lower, the...

US stocks end mixed on rising Treasury yields, Middle East jitters

(April 17): Wall Street stocks ended lower in choppy trading on Tuesday as Treasury yields climbed, with investors weighing the likely path of interest rates in a resilient U.S. economy with persistent inflation.

Federal Reserve Chair Jerome Powell said on Tuesday recent inflation data ...

Wall Street stocks close lower on higher Treasury yields, rate expectations

(April 17): Britain condemns the killing of Israeli teenager Binyamin Achimair and is alarmed by the "shocking levels of violence" in the occupied West Bank after his death, the country's foreign office said in a statement on Tuesday.

"These killings, and subsequent actions, are escalat...

Britain condemns West Bank killings, calls to 'restore calm'

BARCELONA, Spain (April 17): Paris St Germain's Kylian Mbappe scored twice in the second half to help guide his side to a 4-1 comeback win at 10-man Barcelona in their Champions League quarter-final, second leg to wrap up a 6-4 aggregate victory on Tuesday.

Raphinha gave Barca the lead ...

Mbappe scores twice as PSG beat 10-man Barca to reach semi-finals

DORTMUND, Germany (April 17): Borussia Dortmund stormed into the Champions League semi-finals with a rip-roaring 4-2 home win over Atletico Madrid on Tuesday that saw them fight back from a 2-1 defeat in the first leg to win the tie 5-4 on aggregate.

The German side scored twice in the ...

Dortmund down Atletico Madrid in thriller to make Champions League semi-finals

WASHINGTON (April 16): US Treasury Secretary Janet Yellen on Tuesday warned that the US intends to hit Iran with new sanctions in coming days over its unprecedented attack on Israel, and these actions could seek to reduce Iran’s capacity to export oil.

US to hit Iran with new sanctions in ‘coming days’, Yellen says

KUALA LUMPUR (April 16): The Unity Secretariat meeting, held on Tuesday night, discussed preparations to strengthen machinery and the working mechanism of parties within the Unity Government, in preparation for next month’s Kuala Kubu Baharu by-election.

Saifuddin Nasution: Unity Secretariat discussed machinery preps for Kuala Kubu Baharu by-election

<p>Practice Note 17 (PN17) company Serba Dinamik Holdings Bhd said it had been granted an extension of time until May 15 by Bursa Malaysia to submit its regularisation plan.</p>


Bursa grants Serba Dinamik second extension of time until May 15 to submit regularisation plan

<p>ISKANDAR PUTERI (April 16): The Johor government wants to develop a multi-tiered Automated Rapid Transit (ART) system in Johor Bahru to address traffic congestion in the city.</p>


MB: Multi-tiered Automated Rapid Transit system planned to overcome Johor Bahru congestion

<p>KUALA LUMPUR (April 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:</p>


MyEG, HeiTech Padu, Apex Healthcare, Globetronics Technology, Kossan Rubber, Tomei, GDEX, Serba Dinamik, Alpha IVF and Comfort Gloves

<p>The Ministry of Investment, Trade and Industry (Miti) will draw up a comprehensive semiconductor strategic plan to ensure that Malaysia continues to be the chosen investment destination for this strategic industry, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


Anwar: Miti to draw up comprehensive semiconductor strategic plan

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>Tesla Inc&nbsp;shares extended their decline for 2024, pushing the electric-vehicle (EV) maker’s market valuation below US$500 billion (RM2.40 trillion), as a round of job cuts this week further soured sentiment around the company.&nbsp;</p>


Tesla’s value declines below US$500b as risks pile up

<p>Kossan Rubber Industries Bhd has proposed a final dividend of two sen per share for the financial year ended Dec 31, 2023 (FY2023).</p>

<p>The final dividend will be paid on July 18, with June 20 as the ex-date and June 21 as the entitlement date, the glove maker said in a bourse filing on Tuesday.</p>


Kossan proposes final dividend of two sen for FY2023

<p>KUALA LUMPUR (April 16): Bursa Malaysia Bhd is collaborating with the UK government’s Mobilising Institutional Capital Through Listed Product Structures (Mobilist) programme to help address the funding gap needed in Malaysia to achieve the United Nations’ (UN) Sustainable Development Goals (SDGs) by 2030.</p>


Bursa works with UK's Mobilist programme to address funding gap and achieve UN SDGs

<p>KUALA LUMPUR (April 16): The 14-year-old daughter of Lahad Datu police chief ACP Dzulbaharin Ismail was found dead in a pool of blood, in a room at her home in Taman Tabanak, Lahad Datu on Tuesday.</p>


Teen daughter of Lahad Datu police chief found dead in pool of blood

<p>KUALA LUMPUR (April 16): Newly-listed fertility care company Alpha IVF Group Bhd made a net profit of RM13.59 million for its third quarter ended Feb 29, 2024 (3QFY2024), on a revenue of RM40.7 million.</p>


Alpha IVF makes RM13.6 mil net profit in 3Q, sees rising demand for fertility solutions amid resurgence in medical tourism

<p>KUALA LUMPUR (April 16): Express carrier GDEX Bhd, which has been in the red for the last two financial years, is planning to diversify into the provision of information technology (IT) services and solutions to enhance its revenue stream.</p>


GDEX plans to diversify into IT

<p>KUALA LUMPUR (April 16): Comfort Gloves Bhd said two subsidiaries of the group have commenced legal action over an additional tax demand totalling RM99.3 million by the Inland Revenue Board (IRB).</p>


Comfort Gloves’ units go to court over RM99 mil additional tax demand

<p>KUALA LUMPUR (April 16): Gold jewellery manufacturer Tomei Consolidated Bhd, whose share price hit a record high last week amid rising gold prices, has declared a first and final dividend of four sen per share for the financial year ended Dec 31, 2023 (FY2023).</p>


Tomei declares four sen dividend for 2023, expects 'reasonable profit' for 2024

<p>When the group of mining executives arrived at Panama’s regal Palacio de las Garzas, they were ushered past the ornate, wood-panelledd ceremonial rooms and straight to the private office of the president.</p>


How a US$10b mine became a cautionary tale for the energy transition

<p>KUALA LUMPUR (April 16): The Malaysian Investment Development Authority&nbsp;(Mida) has&nbsp;appointed&nbsp;Sikh Shamsul Ibrahim Sikh Abdul Majid as its&nbsp;new chief executive officer (CEO), effective April 18, 2024.&nbsp;</p>


Mida appoints Sikh Shamsul as new CEO

<p>WASHINGTON (April 16): US Treasury Secretary Janet Yellen on Tuesday warned that the US intends to hit&nbsp;Iran&nbsp;with new sanctions in coming days&nbsp;over its unprecedented attack on Israel, and these actions could seek to reduce&nbsp;Iran’s capacity to export oil.</p>


<p>The Kelana Jaya Line Light Rail Transit (LRT) service is operating with a limited number of trains, due to a disruption to&nbsp;the power supply system which was struck by lightning at 3.30pm on Tuesday.</p>


Power supply disruption affects Kelana Jaya Line LRT service

<p>The ringgit continued its downtrend on Tuesday&nbsp;to end lower against the greenback, due to continued positive sentiment for the US dollar,&nbsp;which was bolstered by strong US retail sales data in March, amid concerns over tension in the Middle East, said an analyst.&nbsp;</p>


Ringgit easier against US dollar at closing

<p>The High Court on Tuesday set a three-day trial in January 2026 for the defamation suit filed by former culture, arts, and tourism minister Tan Sri Abdul Kadir Sheikh Fadzir against businessman Datuk Seri Aliff Syukri Kamaruzaman over defamatory statements involving tens of millions of ringgit in investment debts.</p>


Ex-minister's defamation suit against businessman to be heard in January 2026

<p>Policymakers around the world are struggling to confront a surging greenback and lofty US interest rates, according to Mohamed El-Erian.&nbsp;</p>

<p>“Authorities are a little bit frozen around the world as to how do you react to a generalised dollar strengthening?” El-Erian, the president of Queens’ College, Cambridge and a <em>Bloomberg Opinion </em>columnist, told <em>Bloomberg Television</em>&nbsp;on Tuesday. “How do you react to a generalised increase in interest rates in the US?”&nbsp;</p>
