<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 21): CIMB IB Research has downgraded Kawan Food Bhd (Kawan) to “Hold” at RM4.70 with a lower target price of RM4.62 (from RM5.15) and said Kawan’s 1H17 net profit was below house and Bloomberg consensus expectations at 32% of full-year forecasts, mainly due to weaker-than-expected export sales.</p></div>

<div class=newsTextDataWrapInner><p>In a note Aug 20, the research house said Kawan had RM43.2 million net cash or 16 sen net cash per share as at end-June 2017.</p></div>

<div class=newsTextDataWrapInner><p>“FY17-18F EPS cut to reflect slower export sales outlook.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The stock has risen 24% year-to-sate; current valuation not cheap at 20.4x 2018F P/E.</p></div>

<div class=newsTextDataWrapInner><p>“Downgrade from Add to Hold, first downgrade since our Jun 2015 initiation,” it said.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (Aug 21): CIMB IB Research has downgraded Kawan Food Bhd (Kawan) to “Hold” at RM4.70 with a lower target price of RM4.62 (from RM5.15) and said Kawan’s 1H17 net profit was below house and Bloomberg consensus expectations at 32% of full-year forecasts, mainly due to weaker-than-expect...

CIMB Research downgrades Kawan Food, lowers target to RM4.62

The Penang government will wait for recommendations from the undersea tunnel project steering committee before making any decision regarding the implementation of the project, said Chief Minister Chow Kon Yeow.

Undersea tunnel: Penang to wait for steering committee's recommendations, says Chow

The allocations that the government has agreed to consider extending to elected representatives from the opposition are subject to terms and conditions, said DAP Parliament chief whip Nga Kor Ming.

Nga: Proposed allocations for opposition reps conditional

KUALA LUMPUR (April 18): 7-Eleven Malaysia Holdings Bhd, known for its extensive network of convenience stores, declared on Thursday an interim dividend of 2.7 sen per share for its financial year ended Dec 31, 2023 (FY2023), after posting a record high net profit.

7-Eleven declares 2.7 sen dividend for FY2023

Perikatan Nasional (PN) has welcomed the government's decision to allocate funds to elected representatives from the opposition.

Opposition Leader Datuk Seri Hamzah Zainudin, in a statement on Thursday, however, said that PN will decide on the matter after perusing the terms of the draft memorandum of understanding (MOU) being prepared by the government.

PN welcomes govt's decision to extend allocations to opposition reps

There is still room for China's central bank to take steps to support the economy, but efforts are needed to prevent cash from sloshing around the banking system as real credit demand weakens, senior officials at the bank said on Thursday.

The world's second-biggest economy grew faster than expected in the first quarter, but several March indicators, such as property investment, retail sales and industrial output showed that domestic demand remains frail, weighing down momentum.

China's central bank signals caution over credit boost as demand weakens

Several Malaysia Airlines and AirAsia flights between Sabah, Sarawak, and Kuala Lumpur International Airport (KLIA) were cancelled on Thursday due to volcanic eruption at Mount Ruang, Indonesia.

Malaysia Airlines, AirAsia and Batik Air cancel flights to Sabah, Sarawak after volcano eruption in Indonesia

Bursa Malaysia Securities Bhd has approved the transfer of UMediC Group Bhd’s listing status from the ACE Market to the Main Market, under the 'health care' sector.

Bursa approves UMediC’s transfer to Main Market

KUALA LUMPUR (April 18): AwanBiru Technology Bhd (Awantec) said trading in its shares will be suspended from April 26, after the group failed to submit its regularisation plan to the regulators for approval within the stipulated timeframe.

Awantec faces trading suspension from April 26 after failing to submit regularisation plan

Malaysia’s current tallest building, the Merdeka 118 tower, has been awarded the Leadership in Energy and Environmental Design (LEED) Platinum certification in the LEED v2009 Core and Shell rating system, marking it as the first megatall building in the country to achieve it, according to a press statement on Thursday.

Merdeka 118 first megatall building in Malaysia to get LEED Platinum certification

(April 18): Thailand will sign a permanent bilateral visa waiver agreement with Kazakhstan next week, as the Southeast Asian country looks to lift foreign tourist arrivals back to pre-Covid levels.

Thailand, Kazakhstan agree on visa waiver pact to boost tourism

<p>The Malaysian aviation industry may be badly impacted on passenger traffic and spikes in jet fuel prices if a full-blown war results from escalating geopolitical tensions in the Middle East, according to Maybank Investment Bank Research (Maybank IB).</p>


Malaysia's aviation industry at risk amid full-blown crisis in Middle East — Maybank IB

<p>Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.</p>


PIE Industrial extends rally to new all-time high as Kenanga flags new client

<p>Several Malaysia Airlines and AirAsia flights between Sabah, Sarawak, and Kuala Lumpur International Airport (KLIA) were cancelled on Thursday due to volcanic eruption at Mount Ruang, Indonesia.</p>


<p>The Federal Court on Thursday dismissed an appeal by the Petaling Jaya City Council (MBPJ) over the Court of Appeal’s decision last year that decided that non-paying members in a residential area (RA) could raise the boom gates at the entrance to the housing area themselves without the security guards' assistance.</p>


Federal Court dismisses MBPJ’s appeal on residents' boom gate operation

<p>Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.</p>


Google fires workers protesting US$1.2b Israeli contract

<p>The race for the “world’s best airport” crown has been a two-horse affair in recent years, with Doha’s Hamad International and Singapore Changi leading the pack.</p>


Singapore loses ‘world’s best airport’ crown to Qatar

<p>Gold prices may correct amid potential delay in the anticipated rate cuts by the US Federal Reserve, Philip Capital warned on Thursday and advised investors to stop buying Malaysia’s sole gold exchange-traded fund (ETF).</p>


Stop buying gold ETF as prices may correct — Philip Capital

<p>Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.</p>


Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO  

<p>Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.</p>


Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

<p>Apple Inc chief executive officer Tim Cook will meet Singapore’s leader at the tail end of his most extensive Southeast Asia tour in years, searching for new growth markets and manufacturing locations to offset headwinds in China.</p>


Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

<p>Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiTech Padu Bhd, just one month after acquiring a 15.9% stake via a private vehicle in the company.</p>


Amid controversy over govt contracts, Farhash ceases to be HeiTech Padu substantial shareholder after one month

<p>KUALA LUMPUR (April 18): Smart Asia Chemical Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.</p>


Smart Asia Chemical inks underwriting agreement with Mercury Securities en route to ACE Market IPO

<p>President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.</p>


Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

<p>Elon Musk said some of the severance packages sent to former Tesla Inc employees as part of its biggest-ever workforce reduction were too low.</p>


Musk apologises for ‘incorrectly low’ Tesla severance packages

<p>Research analysts covering IGB Real Estate Investment Trust (IGB REIT) remained sanguine on the stock’s prospects after it reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31, 2024 (1QFY2024) to RM124.24 million, from RM118.55 million a year earlier, thanks largely to higher rental income.</p>


Analysts remain sanguine on IGB REIT’s prospects going forward

<p>KUALA LUMPUR (April 18): Food and supplement company OB Holdings Bhd said on Thursday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, to raise funds for expansion.</p>


OB Holdings gets approval for ACE Market IPO, targets listing in 4Q

<p>Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.</p>


HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

<p>Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.&nbsp;</p>


Bursa mixed at midday break, key index up

<p>Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.</p>


Malaysia’s Axiata, Bharti Airtel of India to combine Sri Lankan ops

<p>When Iraq fired dozens of Scud missiles on Israel in early 1991, the US implored then prime minister Yitzhak Shamir not to respond. Shamir said he had to act. After days of late-night calls, high-level visits and long Cabinet meetings, Israel stood down and the US led a 42-nation alliance that defeated Iraq in what became the Gulf War.</p>
