<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 22): CIMB IB Research has maintained its “Add” rating on British American Tobacco (M) Bhd (BAT) at RM33.40 with a higher target price of RM38.66 (from RM33.85) and said BAT’s 1Q18 core net profit constituted 17% of house and Bloomberg consensus full-year forecasts, below expectations.</p></div>

<div class=newsTextDataWrapInner><p>In a note today, the researhc house said BAT’s core earnings fell 20% yoy in 1Q due to: i) decline in sales volume, ii) higher illicit trade sales, and iii) a less profitable product mix.</p></div>

<div class=newsTextDataWrapInner><p>“BAT is upbeat with the Pakatan Harapan government’s pledge to tighten measures against contraband. A zero-rated GST beginning June 1 may also buoy consumer sentiment.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Stronger enforcement against illicit cigarettes and improving sentiment could help improve legal cigarette sales, where BAT is the market leader.</p></div>

<div class=newsTextDataWrapInner><p>“Thus, we raise our DDM-based target price to RM38.66 (its 10-year beta mean),” it said.</p></div>


KUALA LUMPUR (May 22): CIMB IB Research has maintained its “Add” rating on British American Tobacco (M) Bhd (BAT) at RM33.40 with a higher target price of RM38.66 (from RM33.85) and said BAT’s 1Q18 core net profit constituted 17% of house and Bloomberg consensus full-year forecasts, below expecta...

CIMB IB Research raises target price for BAT to RM38.66

SINGAPORE (April 23): The Bank of Singapore (BOS) has appointed Rickie Chan as chief executive of its Hong Kong branch. The appointment was effective April 17. Chan will still remain as head of private banking, Greater China, of BOS’ Hong Kong branch.

Bank of Singapore appoints Rickie Chan as chief executive of its Hong Kong branch

KUALA LUMPUR (April 23): Gadang Holdings Bhd said it will appeal to the Economic Planning Unit (EPU) for a waiver of the Bumiputera equity requirement to facilitate its acquisition of a 21.08-acre land in Kwasa Damansara.

In a bourse filing on Tuesday, the builder-cum-property developer...

Gadang to lodge appeal over Bumi equity requirement in Kwasa Damansara land acquisition 

When Republican presidential candidate Donald Trump's hush money trial began in a Manhattan courthouse on Monday, cable TV news coverage of the case was as divided as America itself.

Cable news coverage of Trump trial reflects a US divided

PepsiCo beat Wall Street expectations for first-quarter revenue on Tuesday as demand held steady for the soda and snacks giant's Tropicana juices and Cheetos in its international markets.

PepsiCo beats quarterly revenue estimates on price hikes, steady demand 

(April 23): Shell Plc and TotalEnergies SE are among several global energy companies in talks to buy stakes in Abu Dhabi National Oil Co’s (Adnoc) next liquefied natural gas (LNG) export project in the United Arab Emirates (UAE).

Shell, TotalEnergies in talks for stakes in Adnoc LNG plant

Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday, thanks to buying from local and foreign institutions, said an analyst.

Bursa ends higher on buying support from local and foreign institutions

Commodities look like a “win-win” for investors as climbing prices reflect vigorous economic growth, according to veteran analyst Jeff Currie.

Commodities are a ‘win-win’ with US$100 oil in sight, Carlyle’s Currie says 

Solomon Islands faces a tense wait for an election result after opposition parties pulled ahead of incumbent Prime Minister Manesseh Sogavare's OUR party, as counting on Tuesday showed independents will be key to forming government.

Solomon Islands faces tense wait for election results

(April 23): Singapore’s core inflation eased in March on lower food prices and cost of services, with the disinflationary trend expected to continue, barring any supply shocks from geopolitical tensions.

Singapore’s inflation cools in March as central bank retains 2024 forecast

Deputy Prime Minister Datuk Seri Fadillah Yusof expressed hope that there would be no speculation surrounding the mid-air collision and crash involving two helicopters at the Royal Malaysian Navy (TLDM) base here on Tuesday.

Fadillah says avoid speculation on helicopter crash and to respect victims' families

<p>The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.</p>




Najib's 1MDB-Tanore trial live reporting (April 23)

<p>Ten members of the Royal Malaysian Navy (RMN) were confirmed dead in an incident where two helicopters collided and crashed at the Royal Malaysian Navy (RMN) base in Lumut, Perak on Tuesday morning.</p>


Two helicopters crash in Lumut, 10 confirmed killed — RMN

<p>Shares of Topmix Bhd surged 32% in its trading debut on Tuesday after the surface decorative products company’s initial public offering (IPO) on the ACE Market raised RM31.7 million.</p>


Topmix surges 32% on ACE Market debut

<p>Healthcare stocks still have legs to run following the recent rally and investors should continue to buy hospital operators for their further earnings growth this year, analysts said.</p>


KPJ near record high, IHH surges as analysts bet on more upside

<p>Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.</p>


Eight contractors face possible MyCC fines for bid rigging in tenders worth RM473m

<p>Malaysia’s construction tender prices are&nbsp;expected to grow by 3% in 2024, compared to the previous year, driven by various factors such as project type, industry procurement strategy and currency fluctuations, according to a report by global professional services company Turner &amp; Townsend.</p>


Malaysia’s construction tender prices to grow by 3% in 2024, says Turner & Townsend

<p>Indonesian President Joko Widodo and his son, incoming vice-president Gibran Rakabuming Raka, are no longer members of the country's largest party after they backed rival candidate and election winner Prabowo Subianto, a party official said on Tuesday.</p>


Indonesia's biggest party confirms President Jokowi no longer a member after backing Prabowo

<p>Former Umno Supreme Council member Hizatul Isham Abdul Jalil or better known as Isham Jalil has offered to make an unreserved apology to bring an end to his contempt of court proceedings.</p>


Ex-Umno leader ready to apologise in contempt of court case

<p>Swatch Group (M) Sdn Bhd&nbsp;said the seizure of its 172 rainbow-themed watches had caused much grief to its international reputation, as the renowned Swiss watch maker had always been dutiful citizens of any state where the watches were sold.</p>


Swatch says advocating compassion for LGBTQ is not a crime, seizure illegal

<p>ATX Semiconductor Group, a globally renowned semiconductor provider from China, intends to ramp up investment to US$200 million (RM952 million) for its new manufacturing plant in Melaka over the next five years for its second-phase business expansion.</p>


ATX Semiconductor to boost investment in Melaka to RM952m

<p>Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence (AI) chips through resellers, despite the US widening a ban last year on the sale of such technology to China.</p>


China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show

<p>Moomoo Malaysia, an online trading platform, garnered 100,000 clients within six weeks of its launch, making it one of the most downloaded financial mobile applications in Malaysia.&nbsp;</p>


Moomoo Malaysia surpassed 100,000 clients within six weeks of its debut in Malaysia

<p>Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is still in the pre-qualification stage for the acquisition of national carrier SriLankan Airlines.&nbsp;</p>

<p>However, AirAsia Consulting has yet to submit any price bid since due diligence has not been carried out, its chief executive officer Subashini Silvadas told <em>The Edge</em> on Tuesday.</p>


Capital A’s unit in RFQ process for SriLankan Airlines, no price bid yet

<p>Datin Seri Rosmah Mansor's appeal against her guilty conviction and sentence over all three counts of graft pertaining to the RM1.25 billion solar hybrid project for 369 rural schools in Sarawak will be heard in October.</p>


October hearing for Rosmah's appeal in solar project graft trial

<p>Hong Leong Investment Bank (HLIB) has a “trading buy” rating on SDS Group Bhd and said with 33 of its F&amp;B outlets situated across Johor state, and a wholesale segment that is focusing in this region, SDS appears strategically positioned to leverage the burgeoning vibrancy in Johor, propelled further by the continuous influx of visitors from Singapore.</p>


SDS strategically positioned to leverage burgeoning vibrancy in Johor, says HLIB 

<p>Malton Bhd has unveiled the final tower (Block B) of River Park, following the successful launch of its previous Tower A and Tower C blocks with more than 70% take-up rate.</p>


Malton unveils River Park's final tower

<p>CONSTRUCTION firm GDB Holdings Bhd — which has been embroiled in disputes with KSK Group in the last two years over the development of the 8 Conlay project in Kuala Lumpur — appears to be back on investors’ radar, judging by the recent upward trend in its share price.</p>

<p>According to marke...

GDB Holdings a front runner for several jobs

<p>The two helicopters which collided and crashed at the Royal Malaysian Navy (RMN) Base were undergoing a rehearsal for the third time in conjunction with RMN Fleet Open Day celebration scheduled on Saturday (April 27).</p>


RMN helicopters involved in third rehearsal before incident — Khaled Nordin

<p>Bursa Malaysia opened higher on Tuesday, taking its cue from Wall Street’s better performance overnight, as sentiment improves after Iran said it will not escalate the conflict with Israel, said an analyst.</p>


Bursa up in early trade, tracking Wall Street overnight

<p>Topmix Bhd, a surface decorative company listed on Tuesday, expects its expansion in the northern region of Peninsular Malaysia to boost its earnings growth.</p>

<p>The northern region, particularly Penang, has seen an influx of foreign investors, leading to higher income levels and rapid development of housing and commercial projects, which all “bode well for Topmix’s expansion plans", said managing director Teo Quek Siang.</p>
