<div class=newsTextDataWrapInner>KUALA LUMPUR (June 29): CGS-CIMB Research has maintained its “hold” rating on United Malacca Bhd (UMB) at RM5.49 with a higher target price (TP) of RM5.55 (from RM5.42) and said the company’s FY4/22 core net profit jumped 5.3 times y-o-y due to higher CPO prices.</div>

<div class=newsTextDataWrapInner>In a note on Wednesday (June 29), the research house said UMB’s&nbsp;core EPS were in line while dividends underperformed.</div>

<div class=newsTextDataWrapInner>“We expect a better FY23&nbsp;on higher CPO prices and Indonesian FFB yields.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>“We raise our TP to RM5.55 but reiterate our 'hold' call as we believe UMB appears fairly valued at current levels,” it said.</div>

KUALA LUMPUR (June 29): CGS-CIMB Research has maintained its “hold” rating on United Malacca Bhd (UMB) at RM5.49 with a higher target price (TP) of RM5.55 (from RM5.42) and said the company’s FY4/22 core net profit jumped 5.3 times y-o-y due to higher CPO prices.

In a note on Wednesday ...

CGS-CIMB raises target price for United Malacca to RM5.55

Iran’s foreign minister compared the drones used in an attack by Israel early Friday to “toys”, in comments that aimed at downplaying the significance of the strike on Iranian territory.

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The Malaysian Communications and Multimedia Commission (MCMC) has lodged police reports against three individuals, namely Badrul Hisham Shaharin or Chegubard, Mohamad Salim Iskandar (Salim Iskandar) and Wan Muhammad Azri Wan Deris (Papagomo), for making and spreading false accusations about its officers.

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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.

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The Madani government will look into the hardship faced by the people in Sabah, especially in terms of socioeconomic poverty as well as improvements to infrastructure for the benefit of the people.

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Deputy Minister of Communications Teo Nie Ching cautioned the public on the latest tactics of scammers impersonating ministry officials.

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A huge blast at a military base in Iraq early on Saturday killed a member of an Iraqi security force that includes Iran-backed groups. The force commander said it was an attack while the army said it was investigating and there were no warplanes in the sky at the time.

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Barisan Nasional (BN) component parties are required to help the candidate representing the unity government in the Kuala Kubu Baharu state by-election, said BN deputy chairman Datuk Seri Mohamad Hasan.

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Chief Minister Datuk Seri Hajiji Noor emphasised that the positive economic achievements over the past three years underscore the Sabah government's steadfast commitment to both the administration and development of the state.

Positive economic achievements prove Sabah govt's commitment, says Hajiji

Property developer Scientex Bhd aims to provide a total of 50,000 units of quality housing units at affordable prices nationwide by 2028.

Scientex project general manager (property division) Tang Song Teik said that so far, the company has handed over 35,062 affordable housing units, with about 70% of them sold at prices below RM300,000.

Scientex aims to build 50,000 affordable housing units by 2028

The Madani government is committed to eradicating hardcore poverty in Sabah despite knowing the situation is quite complicated to resolve, said Prime Minister Datuk Seri Anwar Ibrahim.

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

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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.

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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.

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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.

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S P Setia Bhd has officially launched the LakePoint Complex commercial hub at the 1,235-acre freehold township of SetiaAlam Impian in Shah Alam on Saturday. The ceremony was officiated by the Sultan of Selangor, Sultan Sharafuddin Idris Shah.

Selangor Sultan officiates launch of S P Setia’s LakePoint Complex at Setia AlamImpian

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.

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.

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The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has extended condolences to the family of former inspector general of police Tun Mohammed Hanif Omar, who died early on Saturday morning.

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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.

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Barisan Nasional (BN) component parties are required to help the candidate representing the unity government in the Kuala Kubu Baharu state by-election, said BN deputy chairman Datuk Seri Mohamad Hasan.

Property developer Scientex Bhd aims to provide a total of 50,000 units of quality housing units at affordable prices nationwide by 2028.

Scientex project general manager (property division) Tang Song Teik said that so far, the company has handed over 35,062 affordable housing units, with about 70% of them sold at prices below RM300,000.

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.

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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.

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A huge blast at a military base in Iraq early on Saturday killed a member of an Iraqi security force that includes Iran-backed groups. The force commander said it was an attack while the army said it was investigating and there were no warplanes in the sky at the time.

The Malaysian Communications and Multimedia Commission (MCMC) has lodged police reports against three individuals, namely Badrul Hisham Shaharin or Chegubard, Mohamad Salim Iskandar (Salim Iskandar) and Wan Muhammad Azri Wan Deris (Papagomo), for making and spreading false accusations about its officers.

Iran’s foreign minister compared the drones used in an attack by Israel early Friday to “toys”, in comments that aimed at downplaying the significance of the strike on Iranian territory. &nbsp;

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

Deputy Minister of Communications Teo Nie Ching cautioned the public on the latest tactics of scammers impersonating ministry officials.

Perikatan Nasional (PN) will hold a supreme council meeting on Monday (April 22) on the selection of candidate to contest in the Kuala Kubu Baharu state by-election on May 11.

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Chief Minister Datuk Seri Hajiji Noor emphasised that the positive economic achievements over the past three years underscore the Sabah government's steadfast commitment to both the administration and development of the state.