<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 18): AffinHwang Capital Research has maintained its “Sell” rating on Malaysian Marine and Heavy Engineering Holdings Bhd (MMHE) at RM1.79 with a lower target price of RM1.15 (from RM1.50) and said MMHE, a pure domestic fabricator with single business focus, was hit by a double whammy of higher competitions (entrance of South Korean yard and SapuraKencana Petroleum Bhd’s (SAKP) dominance in local market) and weaker domestic oil &amp; gas capex.</p></div>

<div class=newsTextDataWrapInner><p>In a note Thursday, the research house said MMHE was losing out to its competitors.</p></div>

<div class=newsTextDataWrapInner><p>It said MMHE had secured a mere RM323 million contracts year-to-date, significantly lower than its RM1.7 billion to RM2.9 billion contract wins in 2011-2013.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The contract awards to the South Korean yards signalled that Petronas is now highly focused on cost control while SAKP’s strong performance this year could be due to its integrated operation and strong management team.</p></div>

<div class=newsTextDataWrapInner><p>“While we expect MMHE to secure some RM1.2 billion-RM1.5 billion worth of contracts per annum in 2015-16E, we opine that its bids will need to be highly competitive and hence, its profit margins may come under pressure,” it said.</p></div>

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KUALA LUMPUR (Dec 18): AffinHwang Capital Research has maintained its “Sell” rating on Malaysian Marine and Heavy Engineering Holdings Bhd (MMHE) at RM1.79 with a lower target price of RM1.15 (from RM1.50) and said MMHE, a pure domestic fabricator with single business focus, was hit by a double w...

AffinHwang Capital maintains Sell on MMHE, cuts target price to RM1.15 

Emerging Asian equities and currencies were sharply lower on Friday as reports Israel attacked Iran in an escalation of tensions in the Middle East led investors to flee to safe-haven assets, including the US dollar.

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PUTRAJAYA (April 19): Payment of fees for training or classes in esports, equestrian, swimming, motorsports and taekwondo is eligible for tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.

Payment of fees for sports training eligible for tax relief from next year — Hannah

Taiwan said on Friday China's decision to open new air routes that run perilously close to two Taiwanese-controlled islands was a flight safety risk taken without consultation, adding it will demand any aircraft using them be asked to turn around.

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Indonesia said fiscal and monetary policies are in sync to cushion the economy from the rising dollar, demonstrating an all-hands-on-deck approach, with the central bank signalling they’re intervening more actively to aid the rupiah.

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Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.

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Five Japanese nationals survived a suicide bomb attack on their vehicle on Friday, as police in Pakistan's city of Karachi shot down a gunman accompanying the bomber, a police spokesperson said, but two passers-by were injured.

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KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

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Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.

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EG Industries Bhd has secured a second letter of intent (LOI) from US-based Cambridge Industries Group (CIG) to produce a new 1.6 terabit optical signal transmitter and receiver for a 5G wireless network at EG Industries’ new smart factory 4.0 in Penang.

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KUALA LUMPUR (April 19): The Malaysia External Trade Development Corporation (Matrade) will enhance cross-border e-commerce among small and medium enterprises by partnering Amazon in a programme that allows products to be sold internationally via Amazon’s e-stores.

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<p>Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.</p>


<p>Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>


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<p>Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.</p>


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<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


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<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


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<p>Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.</p>


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<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


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<p>Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.</p>


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<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


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<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


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<p>Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.</p>


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<p>Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.</p>


Malaysia’s March exports down 0.8%, imports surge 12.5%

<p>KUALA LUMPUR (April 19): MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;</p>


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<p>The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.</p>


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<p>The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.</p>


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<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


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<p>The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.</p>


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<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>


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<p>Cocoa futures hit a new high in New York — topping US$11,000 (RM52,624) a metric tonne — as the pace of processing in chocolate factories holds up even in the face of a global supply crunch and record prices.</p>
