<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 14): Perak Transit Bhd is expected to be one of the beneficiaries of the relaxation of movement restrictions, largely driven by higher rental income from its integrated public transportation terminal segment as footfall recovers, said AmBank Research.</p></div>

<div class=newsTextDataWrapInner><p>In a note today, the research house said Perak Transit would benefit from improved revenue from petrol station operations due to an increase in traffic volume, as well as recovery from bus operations in line with the government decision to lift interstate travel ban since Monday.</p></div>

<div class=newsTextDataWrapInner><p>“We continue to like Perak Transit for its unique business model, such as the operation of modern public transport terminals; having proven the commercial viability of this business model in its Terminal Meru Raya in Ipoh and the vast opportunities to replicate this successful business model.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“At 9-11x forward earnings, we believe Perak Transit offers investors a good opportunity to own a defensive public infrastructure business that is replicable for growth at bargain valuations,” it added.</p></div>

<div class=newsTextDataWrapInner><p>AmBank Research said it maintains buy recommendation and fair value (FV) of RM1.08 for Perak Transit, based on 15x fully-diluted FY22F earning per share.</p></div>

<div class=newsTextDataWrapInner><p>At 9.53 am, Perak Transit bagged 1.5 sen to 72.5 sen with 970,200 shares changing hands.</p></div>


Perak Transit Bhd is expected to be one of the beneficiaries of the relaxation of movement restrictions, largely driven by higher rental income from its integrated public transportation terminal segment as footfall recovers, said AmBank Research. In a note today, the research house said Perak Transit would benefit from improved revenue from petrol station operations due to an increase in traffic volume, as well as recovery from bus operations in line with the government decision to lift interstate travel ban since Monday.

AmBank maintains buy call for Perak Transit on higher rental income from integrated public transportation terminal 

(May 16): Laurentian Bank of Canada has cut 2% jobs across the company and shut down its equity research unit as a part of a planned restructuring of its business, the lender said on Thursday.

The reduction in the workforce was notified to the employees by CEO Eric Provost through ...

Laurentian Bank cuts jobs, shuts equity research business

Over the past few years, Vietnam’s anti-graft drive has taken down a slew of top Communist Party leaders, including presidents, deputy prime ministers and Politburo members. But that hasn’t stopped foreign investors from pouring in cash.

Investors still flocking to Vietnam despite political upheaval

(May 16): Ford Motor Co has asked its electric-vehicle suppliers to reduce costs in an attempt to support profitability, saying "everything is on the table," according to a company memo seen by Reuters.

Discounts and sharp price cuts from competitors, including EV market leade...

Ford asks suppliers to cut costs in push to turn EV business profitable, memo says

KUALA LUMPUR (May 17): Shares of Hong Leong Industries Bhd (HLIB)(KL:HLIND) climbed to near their record high on Friday, after the motorcycle assembler reported a 51% year-on-year jump in net profit for the three months ended March 31, 2024.

Hong Leong Industries’ shares retest all-time high after profit jump

JOHOR BAHRU (May 17): Two policemen were killed and another was injured in an attack on the Ulu Tiram Police Station early this morning.

State police chief Commissioner M. Kumar confirmed the incident, stating that it occurred at 2.45 am and involved a masked intruder armed with pistols...

Two policeman killed in attack at Ulu Tiram police station 

China's factory output topped forecasts in April, helped by improving external demand, although retail sales unexpectedly slowed and the property sector remained a drag on the economy, piling pressure on Beijing to do more to support growth.

China's factories fire up but consumer, property weakness persists

The Covid-19 pandemic, inflation and wars have alerted governments to the realities of what it takes to tackle massive crises. In extraordinary times, policymakers often rediscover their capacity for bold decision-making. The rapid speed of Covid-19 vaccine development and deployment was a case in point.

The Visible Hand: What mission-driven government means

Several Federal Reserve (Fed) officials said the central bank should keep borrowing costs high for longer as policymakers await more evidence inflation is easing, suggesting they’re not in a rush to cut interest rates.

Fed officials suggest interest rates should stay high for longer

A Hong Kong court adjourned to June 11 a hearing of a petition on Friday seeking liquidation of Country Garden, providing a breather to the embattled Chinese developer amid Beijing's efforts to revive the crisis-hit property sector.

Chinese property developer Country Garden's Hong Kong liquidation hearing adjourned

HOUSTON (May 16): Hess shareholders should vote in favour of Chevron's US$53 billion all-stock offer at the oil company's May 28 special meeting, proxy adviser Glass Lewis said on Thursday.

Proxy adviser Glass Lewis urges Hess shareholders accept Chevron offer

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.</p>


Hup Seng, SEGi, Hong Leong Industries, Pansar, Kawan Food, Malaysian Pacific Industries, S P Setia, Thong Guan, Iconic Worldwide, Pertama Digital

<p>Asian stocks inched lower on Friday as traders pondered the near term US monetary policy path after Federal Reserve (Fed) officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing.</p>


Asian stocks ease on uncertainty over timing of US rate cuts

<p>Hong Leong Investment Bank (HLIB) Research said the anticipated rebound in construction activities, particularly in railway projects, is expected to generate more contract opportunities for companies like Econpile Holdings Bhd (KL:ECONBHD).</p>


Econpile to ride on construction upcycle, says HLIB 

<p>The International Monetary Fund (IMF) criticised the Biden administration’s decision to aggressively raise tariffs on some Chinese goods, underscoring its warning that tensions between the world’s top two economies risk hurting global trade and growth.</p>


IMF knocks Biden’s China tariffs as risk to US, world growth

<p>Shares of S P Setia Bhd (KL:SPSETIA) soared to their highest in nearly six years after the property developer reported a 39% year-on-year gain in net profit for the first quarter of the year.</p>


S P Setia soars to near six-year high after 39% gain in 1Q profit

<p>The Dow reached an intra-day high of 40,000 for the first time on Thursday, but it ended lower after paring earlier gains, as investor hopes of interest-rate cuts by the Federal Reserve (Fed) were buoyed by data showing inflation slowdown, as well as strong corporate earnings results.</p>


Dow hits milestone 40,000 mark as rate-cut hopes fuel rally

<p>Shares of Hup Seng Industries Bhd (KL:HUPSENG) climbed to their highest in nearly three years after the biscuit maker reported that its net profit surged 45% year-on-year in the first quarter.</p>


Hup Seng shares climb to near three-year high after 1Q profit surge

<p>KUALA LUMPUR (May 17): Shares of Malaysian Pacific Industries Bhd (KL:MPI) climbed to their highest in 15 months, as analysts flagged stronger quarters ahead following the semiconductor company’s return to the black.</p>


Malaysian Pacific Industries climbs to 15-month high on return to profit

<p>KUALA LUMPUR (May 17): Shares of Hong Leong Industries Bhd (HLIB)(KL:HLIND) climbed to near their record high on Friday, after the motorcycle assembler reported a 51% year-on-year jump in net profit for the three months ended March 31, 2024.</p>


<p>Rakuten Trade said Poh Kong Holdings Bhd (KL:POHKONG) is back on the radar after it pushed out from the pennant pattern with a long white candle on Thursday.</p>


Poh Kong back on the radar, says Rakuten Trade 

<p>Noland Arbaugh still doesn’t quite know what happened. He doesn’t know many of the key details about how his life took such a drastic and now extraordinary turn. How he became Noland Arbaugh, celebrity cyborg.</p>


Neuralink’s first patient: ‘It blows my mind so much’

<p>Shut out of US markets and under fire in Europe, China’s electric carmakers are zeroing in on the countries where they’re welcome. One of the big ones is Brazil.</p>


Chinese EV giants hammered by Biden tariff are welcome in Brazil

<p>A suitable list of names for the position of the Election Commission (EC) chairman should be submitted to the Special Parliamentary Select Committee on Human Rights, Elections, and Institutional Reform for vetting before being proposed to the Yang di-Pertuan Agong (YDPA) for consideration as per Article 114 of the Federal Constitution.</p>


List of EC chairman candidates must be vetted before being submitted to Agong

<p>The first Hong Kong exchange-traded funds (ETFs) investing directly in crypto have so far failed to spark the kind of excitement that greeted rival US products, a blow for the city’s push to foster a preeminent digital-asset hub.</p>


Hong Kong’s shaky crypto ETF debuts dent global hub aspirations

<p>JOHOR BAHRU (May 17): Two policemen were killed and another was injured in an attack on the Ulu Tiram Police Station early this morning.</p>

<p>State police chief Commissioner M. Kumar confirmed the incident, stating that it occurred at 2.45 am and involved a masked intruder armed with pistols...

<p>Two voice actors sued artificial intelligence (AI) startup Lovo in Manhattan federal court on Thursday, accusing the company of illegally copying their voices and using them without permission in its AI voiceover technology.</p>


AI voiceover company stole voices of actors, New York lawsuit claims

<p>China's factory output topped forecasts in April, helped by improving external demand, although retail sales unexpectedly slowed and the property sector remained a drag on the economy, piling pressure on Beijing to do more to support growth.</p>


<p>Spirit AeroSystems is laying off several hundred members of its workforce in Wichita, Kan., according to an internal memo, as the company deals with high debt and slowed production at Boeing, its key customer.</p>


Boeing supplier Spirit AeroSystems to lay off about 400 employees, memo says

<p>A victory by Donald Trump in the Nov 5 presidential election would jeopardise a projected US$1 trillion (RM4.69 trillion) in low-carbon energy investments and carbon emissions would be one billion tonnes more by 2050 than under current policies, according to a new analysis by Wood Mackenzie published on Thursday.</p>


A Trump presidency would risk US$1 trillion in clean energy investment, WoodMac says

<p>US parcel delivery giant UPS has enlisted the asset management arm of Wall Street titan Goldman Sachs to manage its US$43.4 billion (RM203.3 billion) pension fund assets in the US and Canada, the investment bank said on Thursday.</p>
