Heineken Malaysia Bhd
(Feb 24, RM28.36)
Downgrade to hold with a higher target price of RM31: For the fourth quarter ended Dec 31, 2019 (4QFY19), Heineken Malaysia Bhd’s reported core profit after tax (PAT) was RM91.2 million — or -11.9% quarter-on-quarter and -8.9%...

Online delivery venture expected to add to Heineken’s dominant market share

Malaysia Airports Holdings Bhd
(Feb 20, RM6.88)
Maintain hold with a lower target price (TP) of RM6.75: The Covid-19 has affected air travel demand in Asia (particularly China and Southeast Asia) as governments tried to contain the virus outbreak by locking down cit...

Air travel demand recovery from 3Q seen for MAHB

Focus Point Holdings Bhd
(Feb 17, 69 sen)
Maintain buy with a higher target price (TP) of 84 sen: Having recently met Focus Point Holdings Bhd, we left feeling positive about its prospects. Focus Point, currently pursuing the food safety certification Hazard Analysi...

Strong 4QFY19 earnings expected for Focus Point

Pos Malaysia Bhd
(Feb 14, RM1.40)
Maintain hold with an unchanged target price (TP) of RM1.55 per share: Pos Malaysia Bhd announced that it had entered into a share purchase agreement and a shareholders’ agreement with SIA Engineering Co Ltd (SIAEC), in relation to ...

Pos Malaysia-SIAEC agreement could be a turnaround for PAES

Malaysia Marine and Heavy Engineering Holdings Bhd
(Feb 13, 79 sen)
Upgrade to buy with an unchanged target price (TP) of 89 sen: Malaysia Marine and Heavy Engineering Holdings Bhd’s (MMHE) fourth quarter of financial year 2019 (4QFY19) core profit of RM20 million (...

MMHE expected to turn around in FY20 on profit improvement

Axiata Group Bhd
(Feb 11, RM4.37)
Maintain hold with an unchanged target price (TP) of RM4.56: Axiata Group Bhd’s 66.4%-subsidiary PT XL Axiata Tbk’s fourth quarter ended Dec 31, 2019 (4QFY19) core net profit (CNP) of 214 billion rupiah (RM64.71 million) — flat quar...

Axiata expected to focus on emerging countries  with growth potential

VS Industry Bhd
(Feb 10, RM1.40)
Initiate coverage with buy and a target price (TP) of RM1.73: VS Industry Bhd (VSI) is one of the leading integrated electronics manufacturing services (EMS) providers in the region, with proven capabilities to undertake the manufact...

Higher output, China market seen among VSI’s growth drivers

Sunway Construction Group Bhd
(Jan 31, RM1.81)
Maintain buy with an unchanged target price of RM2.30: The management is targeting to secure RM2 billion worth of jobs for financial year 2020 (FY20). These jobs do not include potential contract wins from the upcoming ...

Upside potential seen in FY20 job flows for Sunway Construction

RHB Bank Bhd
(Jan 30, RM5.73)
Maintain buy with an unchanged target price of RM6.20: We met up with the management recently for some operational updates. Overall, we find RHB Bank Bhd’s near-term outlook remains stable.

 
Although RHB’s annualised...

Near-term outlook for RHB expected to be stable

Bursa Malaysia Bhd
(Jan 28, RM5.78)
Maintain hold with a higher target price of RM6.29: The management shared with Bursa Malaysia Bhd’s soft average daily volume (ADV) — -19.8% year-on-year (y-o-y) in financial year 2019 (FY19) and month-to-date January 2020: a flat...

Bursa expected to continue with cost containing effort

Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally, which has flagged as expectations for interest cuts fade.

'Crowded' megacap trade in US stocks awaits earnings test

Elon Musk postponed a planned trip to India where he was to meet Prime Minister Narendra Modi, citing obligations at his Tesla automaker and saying he aimed to reschedule the visit for later this year.

Tesla's Elon Musk postpones India trip, aims to visit this year

Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

DNB says process relating to subscription of its shares by five mobile network operators ongoing

Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.

Approved logistics players to get diesel fleet cards amid subsidy rationalisation

PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.

No specific names discussed for Sabah PKR State Leadership Council head, says Fahmi

Efforts to reform the Bretton Woods institutions – the International Monetary Fund and the World Bank – are progressing, albeit slowly. In December, the IMF Board of Governors approved a 50% increase in member quotas, which will reduce its reliance on borrowed resources, and the World Bank has re...

The Frontiers Of Growth : How to Govern the Bretton Woods Institutions Better

A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.

Bitcoin ‘halving’ cuts supply of new tokens in threat to miners

A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.

Philippines wants US, Japan to take over rail deal eyed by China

The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.

World Bank wins US$11b in pledges to boost lending for climate, global crises

Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.

IMF concerned about debt, fiscal challenges facing low-income countries

Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.

Former IGP Tun Hanif Omar passes away

The long-awaited Energy Exchange Malaysia (Enegem) has finally been introduced, along with guidelines on cross-border electricity sales announced by the Ministry of Energy Transition and Water Transformation (Petra) last Monday for exports of green electricity from Malaysia to Singapore and Thailand.

Enegem: Malaysia edges closer to RE exports

Attention this week will be on the March inflation rate, with the Department of Statistics Malaysia (DOSM) slated to put out Consumer Price Index (CPI) — the key gauge for inflation — data on Thursday.

Inflation edged up by a higher-than-expected 1.8% i...

The Week Ahead: Eyes on March inflation, US 1Q GDP and tech earnings

A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.

A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.

Digital Nasional Bhd (DNB), the operator of Malaysia’s 5G telecommunications assets, said the process in relation to the subscription of its shares by five mobile network operators (MNOs) in this country is ongoing.

Approved road transport logistics companies will obtain “fleet cards” from select fuel retailers to purchase subsidised fuel under the diesel subsidy rationalisation programme, the Ministry of Finance (MOF) said.

The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.

Ringgit likely to trade around 4.78 versus greenback next week

Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.

Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".

Fed survey cites inflation, US election as key financial stability risks

The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.

PKR Information chief Fahmi Fadzil said no specific names were discussed regarding the leadership of the Sabah PKR State Leadership Council (MPN) at a special meeting with Prime Minister Datuk Seri Anwar Ibrahim on Saturday.

Efforts to reform the Bretton Woods institutions – the International Monetary Fund and the World Bank – are progressing, albeit slowly. In December, the IMF Board of Governors approved a 50% increase in member quotas, which will reduce its reliance on borrowed resources, and the World Bank has re...

Next week’s earnings reports from some of the market’s biggest technology and growth companies could prove an important test for the US stock rally, which has flagged as expectations for interest cuts fade.

Hong Leong Investment Bank Research

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