<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 27): AffinHwang Capital Research has upgraded IJM Plantations Bhd (IJMP) to “Buy” (from Hold) at RM3.49 with a lower target price of RM3.80 (from RM3.88) and said IJMP posted a pretax loss in 4QFY15 and a lower pretax profit in FY15 mainly due to lower sales volume and unrealised forex loss.</p></div>

<div class=newsTextDataWrapInner><p>In a note today, the research house said stripped of the forex losses and other one-off items, core net profit amounted to RM127.6 million, driven by superior FFB production growth from its Indonesian operations.</p></div>

<div class=newsTextDataWrapInner><p>“FY16E-17E forecasts are cut slightly and target price is trimmed to RM3.80.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“At current price and with a potential total return of 11.8%, rating for IJMP is upgraded from Hold to Buy,” it said.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (May 27): AffinHwang Capital Research has upgraded IJM Plantations Bhd (IJMP) to “Buy” (from Hold) at RM3.49 with a lower target price of RM3.80 (from RM3.88) and said IJMP posted a pretax loss in 4QFY15 and a lower pretax profit in FY15 mainly due to lower sales volume and unrealise...

AffinHwang Capital upgrades IJM Plantation to Buy, trims target price to RM3.80

GDANSK/BRUSSELS (April 26): The boss of Spanish steelmaker Acerinox says the European Union (EU) should do more to curb steel imports from Asia, which are hurting some of the EU's mills, as demand and prices weaken.

EU should do more to curb steel imports from Asia, says Acerinox CEO

The son of the Perlis menteri besar and four others who were remanded by the Malaysian Anti-Corruption Commission (MACC) since Wednesday have been released on MACC bail.

Perlis MB’s son, four others released on bail

Voice TV, a Thai media company owned by former prime minister Thaksin Shinawatra’s family, said it will cease operations next month and lay off about 200 employees including journalists.

Thaksin-linked TV broadcaster to shut down after 15 years

(April 26): The allies of Republican presidential candidate Donald Trump are drafting proposals that would attempt to erode the Federal Reserve's independence if he wins, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

A small group of the fo...

Trump allies drafting plans to erode Fed's independence — WSJ

S P Setia Bhd will launch Casaville, which comprises 38 single-storey bungalows, in its Setia EcoHill township in Semenyih at end-April.

With a gross development value (GDV) of RM50 million, the homes measure 52ft by 90ft each, with built-ups from 1,994 to 2,074 sq ft, and a three-bedroom, three-bathroom layouts. The selling price starts from RM1.376 million. It is slated for completion in the second quarter of 2026.

S P Setia to launch single-storey bungalows in Setia EcoHill at end-April

HOUSTON (April 26): Exxon Mobil Corp missed analysts' estimates on Friday with a 28% year-on-year drop in first quarter profits, as weaker refining margins and lower natural gas prices offset volume gains.

Exxon misses on 1Q profit despite big gains in Guyana

The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering & Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

EPF emerges as second largest shareholder of Sam Engineering

PADANG BESAR (April 26): Communications Minister Fahmi Fadzil said on Friday that the Terengganu government’s decision to reject the Territorial Sea Act 2012 through a motion passed in the State Legislative Assembly (DUN) on Thursday (April 25), has been seen as a cynical and hypocritical act.

Fahmi: Terengganu’s decision to reject Territorial Sea Act 2012 cynical, hypocritical

MOSCOW/LONDON (April 26): Russia's central bank held its key interest rate at 16% for the third meeting running on Friday, but raised its inflation forecast for 2024, acknowledging for the first time that it may struggle to reach its 4% target this year.

Russian central bank holds rates at 16%, raises inflation forecast

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's defamation lawsuit against former prime minister Tan Sri Muhyiddin Yassin is headed for a settlement after the two leaders agreed to end a personal dispute between them.

Zahid and Muhyiddin agree to settle defamation suit

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>The Inland Revenue Board (IRB) has extended the deadline for non-business taxpayers to submit their tax return form for the year of assessment 2023 via e-Filing from April 30 to May 15.</p>


e-Filing: Tax return form submission deadline extended to May 15 for non-business taxpayers

<p>Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.</p>


Berjaya Corp denies participation in talks to revive Forest City casino resort

<p>Maxis Bhd could work with another consortium partner to lower the cost of deploying the second 5G network, even after the recapitalisation of Digital Nasional Bhd (DNB), said RHB Research in a note on Friday.</p>


Maxis could lead second 5G network roll-out with new consortium partner, says RHB Research

<p>Analysts believe Capital A Bhd's proposed restructuring plan will help the group exit the Practice Note 17 (PN17) status and enhance its competitiveness, as well as provide benefits to AirAsia X Bhd's (AAX) shareholders in terms of free warrants and improved company valuation post restructuring.</p>


Analysts positive restructuring plan will uplift Capital A's PN17 status, benefit AirAsia X shareholders

<p>The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.</p>


Merger of airlines alone enough to reverse all of Capital A's negative equity, says Fernandes

<p>Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.</p>


Mohan Swami, partner agree to buy 58% of Turiya for RM52.86m from MAA Group

<p>Shares in ViTrox Corp Bhd fell to their lowest in a month, as first-quarter results disappointed investors, while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.</p>

<p>ViTrox fell as much as 6% before ending the day at RM7.40, its lowest since March 26, 2024. The stock was still down a little under 3% at the closing bell after 5.29 million shares changed hands. In contrast, the country’s benchmark index FBM KLCI was 0.4% higher.</p>


ViTrox slips to one-month low as 1Q disappoints, analysts raise caution

<p>Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.</p>


Asia’s richest banker loses US$1.2 bil after RBI ban

<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


SC adds four entities to Investor Alert List, two being potential clones

<p>Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.</p>


Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

<p>Malayan Banking Bhd (Maybank) has obtained a summary judgement at the High Court here against ACE Credit (M) Sdn Bhd, ACE Corporation (M) Sdn Bhd, and the company directors Datuk Choong Chee Meng and Chang Ai Nee, for defaulting on a RM46.47 million loan given to them by the bank.</p>


Maybank obtains summary judgement against ACE Corporation, three others for RM46m loan default

<p>Prime Minister Datuk Seri Anwar Ibrahim on Friday suggested all parties mentioned in a recent report&nbsp;alleging that the government is planning to issue&nbsp;a licence for a casino in&nbsp;Forest City, Johor, to take necessary action&nbsp;against the foreign news agency.</p>


Anwar wants action taken against Forest City casino licence news report

<p>The country’s&nbsp;fifth-generation (5G) network&nbsp;adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.</p>


Fahmi: 5G adoption rate almost 36%, coverage 80.3%, second network unveiling next week

<p>Nestle (Malaysia) Bhd is slated to raise prices for 22 of its products starting July 1, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).</p>


Nestle Malaysia to adjust prices of 22 products starting July 1

<p>The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.</p>


World’s billionaires should pay minimum 2% wealth tax, say G20 ministers

<p>The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that car buyers in other markets have never seen.</p>

<p>China’s upstart electric brands, and even its state-owned, legacy automakers, are racing to pack technology and features once considered premium into electric vehicles (EVs) as cheap as US$20,000 (RM95,525) — less than half the cost of an average new car in the US, now more than US$48,000.</p>


Battle for 'tech luxury' in China as EVs get smarter — and cheaper

<p>Pavilion Real Estate Investment Trust rose to its highest in more than a month&nbsp;after the release of its first-quarter results, while analysts expect the REIT, which mainly manages shopping malls, to benefit further from higher tourist arrivals.</p>


Pavilion REIT climbs over one-month high, analysts say earnings growth on track

<p>The Malaysian Anti-Corruption Commission (MACC) has given businessmen Mirzan Mahathir and Tan Sri Mokhzani Mahathir a 30-day extension from Friday to declare their assets to the anti-graft body.</p>


Mirzan and Mokhzani given 30-day extension to declare assets

<p>MYAirline Sdn Bhd will continue to retain its nominated post holders as well as key personnel, while ensuring that its air operator’s certificate (AOC) documentation remains as current as possible.</p>
