Ajinomoto (Malaysia) Bhd
(March 25, RM12.10)
Maintain buy with a lower target price (TP) of RM13: For the nine months of financial year 2020 (9MFY20), Ajinomoto (Malaysia) Bhd’s revenue rose 3.8% year-on-year (y-o-y) to RM340.9 million, underpinned by an uptick in s...

Ajinomoto’s export market expected to stay robust

Heineken Malaysia Bhd
(May 24, RM23.76)
Maintain hold with a higher target price of RM25.00: Heineken Malaysia Bhd’s (HEIM) first quarter of financial year 2019 (1QFY19) core net profit increased 8.3% to RM52.8 million, driven by organic sales growth (ex-SST price a...

Heineken Malaysia 2019 prospects expected to remain positive

Velesto Energy Bhd
(May 23, 27 sen)
Maintain buy with an unchanged target price (TP) of 40 sen: Velesto Energy’s first quarter of financial year 2019 (1QFY19) loss was no surprise, with rig utilisation at 66%, which was close to what we had earlier anticipated. Notw...

Velesto prospects bright with jack-up rig demand expected to increase

KPJ Healthcare Bhd
(May 21, 93.5 sen)
Downgrade to hold with a lower target price (TP) of RM1: While KPJ finally charted a strong recovery in inpatient volume growth in 2018, we think that the recovery could be short-lived, as we have seen weakness in the consumer s...

KPJ sees better turnaround for its Indonesia operations

Bursa Malaysia Bhd
(April 30, RM6.75)
Downgrade to sell with a lower target price of RM5.40: Bursa saw a weak quarter in first quarter of financial year 2019 (1QFY19), as net profit of RM46.9 million (-26.5% year-on-year [y-o-y]; -9.6% quarter-on-quarter [q-o-q]), w...

Shorter settlement date seen to lower Bursa’s financial market risks

Petronas Gas Bhd
(March 13, RM17.70)
Maintained hold and a lower target price of  RM17.30: Petronas Gas Bhd (PetGas) is currently operating under the new gas transportation tariff in 2019 (known as the pilot year), while it is in the midst of submitting a propo...

PetGas likely to maintain dividend payout at a similar 70% level

Inari Amertron Bhd
(Feb 13, RM1.66)
Maintain buy with a target price (TP) of RM1.89: We recently met up with management which highlighted that the radio frequency (RF) and sensor businesses are likely to remain soft near term. The stock price has, however, corrected...

Inari to benefit from business uptick due to coming 5G rollout

Supermax Corp Bhd
(Feb 13, RM1.63)
Maintain buy with a target price (TP) of RM2.30: Supermax Corp Bhd continued to report a relatively good set of results, as 1HYF19 core-Patami of RM69.6m (+9.1%) tracked within consensus and our expectation, delivering around 52% a...

Supermax 2HFY19 earnings likely to remain robust

CIMB Group Holdings Bhd
(Jan 24, RM5.65)
Maintain hold with an unchanged target price (TP) of RM6.10: After a meeting with management, we are of the view that CIMB Group Holdings Bhd’s fourth quarter of financial year 2018 (4QFY18) results may not be exciting due to...

CIMB likely to meet FY18 loan growth KPI

Axis Real Estate Investment Trust
(Jan 23, RM1.70)
Upgrade to buy with a higher target price (TP) of RM1.90: Axis Real Estate Investment Trust (REIT) reported a strong set of results — financial year 2018 (FY18) realised net profit grew by 25% year-on-year (y-o-y) t...

Axis REIT FY18 results above expectations

Richly valued US stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report.

Lofty US stocks leave investors punishing earnings disappointments

Two earthquakes, the largest a 6.1 magnitude, struck Taiwan's eastern county of Hualien on Saturday, the island's weather administration said, with no immediate reports of damage.

The quakes, within half an hour of each other in the early hours of the morning, shook buildings in the capital, Taipei.

Taiwan rattled by quakes again, no immediate reports of damage

Nomination for the Kuala Kubu Baharu state by-election opened at 9am on Saturday at the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Nomination opens at 9am for Kuala Kubu Baharu by-election

US regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp (FDIC) said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers.

US regulators seize troubled lender Republic First, sell it to Fulton Bank

Apple Inc has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.

Apple intensifies talks with OpenAI for iPhone generative AI features

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak to collaborate with rare earth elements company from South Korea, says MB

Global stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen sank to a 34-year low after the Bank of Japan (BOJ) kept monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

Who pays for anytime EPF withdrawals?

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

KNM Group Bhd said it is seeking court sanction for a new scheme of arrangement with its creditors. The PN17 group is also seeking a further extension of time to submit its regularisation plan.

KNM seeks fresh scheme of arrangement with creditors

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E...

EVENING 5: Five things you need to know today

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

(April 26):&nbsp;HSBC Holdings Plc successfully fought off a London court&nbsp;claim&nbsp;brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co&nbsp;film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUALA LUMPUR (April 26):&nbsp;KPJ Healthcare Bhd, through its premier educational institution&nbsp;KPJ Healthcare University (KPJU),&nbsp;has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise&nbsp;healthcare.

KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

Global&nbsp;stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen&nbsp;sank to a&nbsp;34-year low after the Bank of Japan (BOJ)&nbsp;kept&nbsp;monetary policy loose.

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

Wall Street rises as Big Tech charges higher

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp&nbsp;will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel&nbsp;Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

WASHINGTON (April 26):&nbsp;Ukrainian President Volodymyr Zelenskiy called on Friday for additional air defence systems to be sent to Kyiv to help protect against Russian strikes, adding that a pause in US&nbsp;funding had helped Moscow seize the initiative.

Ukraine's Zelenskiy calls for air defence systems as allies meet

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

A weekly round-up of tanker and dry bulk market (April 26, 2024)

Baltic Exchange shipping updates: April 26, 2024

Richly valued US&nbsp;stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report.

US&nbsp;regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp (FDIC) said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers.

Nomination&nbsp;for the Kuala Kubu Baharu state by-election opened at 9am on Saturday at&nbsp;the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Apple Inc&nbsp;has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.&nbsp;

Two earthquakes, the largest a 6.1 magnitude, struck Taiwan's eastern county of Hualien on Saturday, the island's weather administration said, with no immediate reports of damage.

The quakes, within half an hour of each other in the early hours of the morning, shook buildings in the capital, Taipei.

Affin Hwang Capital Research

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Affin Hwang Capital Research

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