<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 4): MIDF Research has upgraded BIMB Holdings Bhd to “Trading Buy” with an unchanged target price of RM4.22 and said it noted that BIMB’s share price had been declining 13.6% to its 3-year low of RM3.24 yesterday arguably in relation to Tabung Haji news.</p></div>

<div class=newsTextDataWrapInner><p>In a note today, the research house said it believed the selloff was overdone and not reflective of the Group’s fundamental value</p></div>

<div class=newsTextDataWrapInner><p>“Premised on above, we maintain our FYs earnings forecasts at this juncture.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“However, we upgrade our stance to Trading Buy with an unchanged target price of RM4.22 on the back of undemanding valuation,” it said.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (Feb 4): MIDF Research has upgraded BIMB Holdings Bhd to “Trading Buy” with an unchanged target price of RM4.22 and said it noted that BIMB’s share price had been declining 13.6% to its 3-year low of RM3.24 yesterday arguably in relation to Tabung Haji news.

In a note today...

MIDF Research upgrades BIMB to Trading Buy, keeps target at RM4.22 

Israel’s move to take control of the Rafah crossing into Egypt has sparked furious debate about its end goal: Is this the start of a long-threatened invasion of the southern Gaza city, or an attempt to pressure Hamas to ease conditions for a cease-fire and the release of hostages?

Israel edges into Rafah with tensions high over deadlocked talks

Apple Inc unveiled a new artificial intelligence-focused iPad Pro and a larger iPad Air, aiming to reinvigorate a tablet lineup that has languished over the past two years.

Apple revamps iPads with AI-focused Pro model, bigger Air

AwanBiru Technology Bhd (Awantec) reported a net profit of RM2.14 million for its third quarter ended March 31, 2024 (3QFY2024), a significant turnaround from the net loss of RM1.99 million it incurred a year ago, as its software and services segment secured major contracts with higher revenue.

Awantec reports profit in 3Q as revenue jumps on new contracts

KUALA LUMPUR (May 7): The strategic cooperation between the Malaysian Investment Development Authority (Mida) and the Ministry of Higher Education (MOHE) is expected to catalyse the country’s industrial growth, especially in supporting the development of more talents at the global level.

Mida’s strategic cooperation with Higher Education Ministry to accelerate local industrial growth — Tengku Zafrul

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

<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>


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

<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>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

<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>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

<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>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>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>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>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>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>


VinFast’s EV ambitions get a reality check as shares plunge 65%

<p>LOW-PROFILE company Nextgreen Global Bhd, which is in the business of turning empty fruit bunches (EFB), a byproduct of palm oil mills, into green and sustainable products such as pulp and paper, pulp moulding, fertiliser and animal feed, is now ready to showcase to the world what it can do.</p>...