<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 26): CIMB Research has upgraded Hovid Bhd to Hodl (from Reduce) at 38 sen with an unchanged target price of 41 sen and said Hovid’s 1QFY6/15 core net profit was broadly in line, making up 27% of house and consensus full-year forecasts.</p></div>

<div class=newsTextDataWrapInner><p>In a note Nov 25, the research house said Hovid’s sales and profit margin improved marginally due to higher selling prices and a favourable foreign exchange rate.</p></div>

<div class=newsTextDataWrapInner><p>It said that as expected, no dividend was declared.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We trim our FY15-17 EPS by 1-2% after updating our financial model with the latest numbers from its annual report.</p></div>

<div class=newsTextDataWrapInner><p>“We keep our SOP-based target price at 41 sen, but upgrade it to Hold from Reduce as its share price has corrected by 18% since we downgraded it to Reduce in Aug 14.</p></div>

<div class=newsTextDataWrapInner><p>“We prefer Pharmaniaga for its higher upside,” it said.</p></div>


KUALA LUMPUR (Nov 26): CIMB Research has upgraded Hovid Bhd to Hodl (from Reduce) at 38 sen with an unchanged target price of 41 sen and said Hovid’s 1QFY6/15 core net profit was broadly in line, making up 27% of house and consensus full-year forecasts.

In a note Nov 25, the research ho...

CIMB Research upgrades Hovid to Hold, target price 41 sen 

Daniel Suidani, a prominent Solomon Islands critic of China, who was former Malaita province premier, has been reelected to the provincial assembly, local media reported on Friday, as counting continues in the key Pacific island nation's election.

Solomon Islands election count underway, China critic Suidani regains seat

KUALA LUMPUR (April 19): Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS). 

Awantec’s share price tumbled to a low of 15 sen during the morning session, its lowest since March ...

Awantec shares plunge 53%, intraday short selling suspended 

Transitioning towards a low-carbon power system is critical for Malaysia to realise its potential for green growth and unlock the critical opportunity to restructure the nation’s economy for a second economic take-off. Large-scale deployment of solar power is critical in realising this national v...

My Say: Deploying solar power for the low-carbon economy

China's aviation regulator said on Friday it had opened new air routes to the Chinese cities of Xiamen and Fuzhou with flight paths situated very close to the Taiwan-controlled islands of Kinmen and Matsu, in a move likely to anger Taipei.

China opens new air routes near Taiwanese islands

The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).

Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).

RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

A total of 218 out of 338 projects to reconstruct dilapidated schools in Sabah have been completed to date, says Education Minister Fadhlina Sidek.

She said 60 projects were currently under construction and expected to be completed soon, while the remaining 60 projects were still in the planning stage.

218 out of 338 dilapidated school reconstruction projects in Sabah completed — Fadhlina

Sales of previously-owned homes in the US fell in March from a one-year high, underscoring the lingering impact of high mortgage rates and elevated prices.

US existing home sales decline as rates keep buyers sidelined

Israeli missiles have hit a site in Iran, ABC News reported late on Thursday, citing a US official, while Iranian state media reported an explosion in the center of the country, days after Iran launched a retaliatory drone strike on Israel.

Israeli missiles hit site in Iran — report

Apple removed Meta Platforms' WhatsApp and Threads from its App Store in China on Friday after the iPhone maker was ordered by the Chinese government.

Apple removes WhatsApp, Threads from China app store on govt order

<p>KUALA LUMPUR (April 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:</p>

<p>Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of <strong>HeiT...

HeiTech Padu, Axiata, AmanahRaya REIT, AmFirst REIT, RHB Bank, 7-Eleven Malaysia, MBSB, Awantec, MAA Group, UMediC, Systech, Pansar, Auro, Kimlun and AWC

<p>PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.</p>


PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

<p>FE Green Pet (M) Sdn Bhd’s new high-tech recycling factory is expected to make Melaka a green investment destination and complement the economic growth strategy in the state, said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.</p>

<p>He said with an investment totalling approximately RM958 million, the plant on 14 hectares of land is projected to be completed by 2Q 2025, creating almost 500 jobs.</p>


RM958 mil high-tech recycling factory puts Melaka on green investors map — Ab Rauf

<p>Israeli missiles have hit a site in Iran, <i>ABC News</i> reported late on Thursday, citing a US official, while Iranian state media reported an explosion in the center of the country, days after Iran launched a retaliatory drone strike on Israel.</p>


<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


 Sarawak aiming to transform itself into a centre for clean hydrogen energy

<p>KUALA LUMPUR (April 19): Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>

<p>Awantec’s share price tumbled to a low of 15 sen during the morning session, its lowest since March ...

<p>Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports of a sharp escalation in Middle East hostilities.</p>


Stocks sink, oil surges on reports of Middle East attacks

<p>Apple removed Meta Platforms' WhatsApp and Threads from its App Store in China on Friday after the iPhone maker was ordered by the Chinese government.</p>


<p>The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.</p>


US stops UN from recognising a Palestinian state through membership

<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


<p>The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.</p>


US bank reserve balances see largest drop since 2022 tax season

<p>Hong Leong Investment Bank (HLIB) expects Bursa Malaysia Bhd’s earnings for the first quarter to rise 34% year-on-year to RM75 million, amid the expectation of higher securities average daily value (ADV) and derivatives average daily contract (ADC).</p>


HLIB sees Bursa Malaysia’s 1Q earnings rising 34% y-o-y 

<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

<p>Chinese government-linked hackers have burrowed into US critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI director Christopher Wray said on Thursday.</p>


FBI says Chinese hackers preparing to attack US infrastructure

<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


<p>The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower for the fifth consecutive day, said palm oil trader David Ng.</p>

<p>He said the weaker soybean oil market and lower crude oil prices continue to pile pressure on prices.</p>


CPO futures end lower for 5th consecutive trading day

<p>RHB Retail Research said Muhibbah Engineering (M) Bhd may be headed for an uptrend after rebounding strongly from a recent pullback and pushing past the 21-day simple moving average line.</p>


Muhibbah Engineering may be headed for uptrend, says RHB Retail Research 

<p>Cocoa futures hit a new high in New York — topping US$11,000 (RM52,624) a metric tonne — as the pace of processing in chocolate factories holds up even in the face of a global supply crunch and record prices.</p>


Cocoa soars above US$11,000 a tonne as processing pace holds up

<p>Rakuten Trade said United U-Li Corporation Bhd may trend higher after breaking out from its two-week bullish flag pattern with a long white candle on Thursday.</p>


United U-Li Corp may trend higher, says Rakuten Trade 

<p>Hong Leong Investment Bank (HLIB) said Kimlun Corp Bhd’s earnings is primed for promising prospects in FY2024-25, underpinned by an unbilled orderbook of RM2.48 billion (3.0x cover on FY2023 revenue and the highest achieved since FY2018), with 85% dedicated to construction and the remaining to precast manufacturing.</p>
