<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug&nbsp;26): Kenanga Research has maintained its “outperform” rating on HIL Industries Bhd at RM98.5 sen with an unchanged target price of RM1.08 and said HIL’s 1HFY22 results met expectations.</p></div>

<div class=newsTextDataWrapInner><p>In a note on Friday (Aug 26), the research house said HIL’s manufacturing earnings grew on the back of stronger demand for automotive parts, but contributions from property segment contracted with limited new launches.</p></div>

<div class=newsTextDataWrapInner><p>Kenanga said HIL’s 2HFY22 is expected to be a similarly strong, though not without some headwinds.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“While the manufacturing segment saw strong growth in 1HFY22, the group may see more subdued growth moving forward as the vehicle demand driven by the SST exemption will taper.</p></div>

<div class=newsTextDataWrapInner><p>“The segment is still expected to grow as the Malaysian Automotive Association is forecasting circa 24% growth in total vehicle sales in 2022.</p></div>

<div class=newsTextDataWrapInner><p>“However, combined with increased resin prices, the group may see more subdued earnings growth in 2HFY22.</p></div>

<div class=newsTextDataWrapInner><p>“We maintain our forecasts, SOP-based TP of RM1.08 and 'outperform' call,” it said.</p></div>

<div class=newsTextDataWrapInner><p>At 9.22am on Friday, HIL rose 2.54% or 2.5 sen to RM1.01 with 87,300 shares done.</p></div>


KUALA LUMPUR (Aug 26): Kenanga Research has maintained its “outperform” rating on HIL Industries Bhd at RM98.5 sen with an unchanged target price of RM1.08 and said HIL’s 1HFY22 results met expectations.

In a note on Friday (Aug 26), the research house said HIL’s manufacturing earn...

HIL’s 2HFY22 expected to be strong, says Kenanga Research

Electronics manufacturing services (EMS) firm Notion VTec Bhd (KL:NOTION) reported a net profit of RM14.04 million in the second quarter ended March 31, 2024 (2QFY2024), a turnaround from the net loss of RM7.77 million a year ago, driven by strong demand for the group’s EMS products.

Notion VTec logs RM14 mil net profit in 2Q amid stronger demand for EMS products

While criticisms of the government are permissible in Malaysia, Prime Minister Datuk Seri Anwar Ibrahim admitted that there are boundaries to media freedom, particularly concerning sensitive topics of race, religion and royalty (3R).

Criticisms of govt allowed but there are boundaries on 3R issues — PM

Prime Minister Datuk Seri Anwar Ibrahim has once again urged the US to do whatever is necessary to halt Israeli hostilities in Gaza.

Anwar repeats call for US to do all it can to halt hostilities in Gaza

Apple has launched an aggressive discounting campaign on its official Tmall site in China, offering discounts of up to 2,300 yuan (US$318) on select iPhone models.

The discounting comes as the US tech giant seeks to defend its position in the high-end smartphone market, where it faces increasing competition from local rivals such as Huawei.

Apple slashes iPhone prices in China amid fierce Huawei competition

Crypto startup funding rose for a second straight quarter to hit US$2.4 billion in the first three months of 2024, PitchBook data showed, as expectations of lower interest rates and the debut of the first US bitcoin spot ETF whetted investor appetite.

Venture capital funding in crypto rises to US$2.4 bil, PitchBook says

The move to introduce the drawing of lots in awarding jobs to G1 to G4 contractors shows the Madani government's concern and commitment towards the fate and future of the contractors involved.

Drawing lots for projects ensures job opportunities for G1-G4 contractors

China sharply criticised the inaugural address of new Taiwan President Lai Ching-te, an early indication he will likely have a rocky relationship with Beijing.

China rips Taiwan’s Lai for ‘dangerous signal’ in opening speech

US bank regulators are reconsidering how much liquidity banks should be required to have on hand following a series of abrupt bank failures in 2023, the Federal Reserve's top regulatory official said Monday.

Michael Barr, the Fed's vice chair for supervision, said regulators are considering "targeted adjustments" to existing liquidity rules aimed at boosting bank resilience under stress. The changes under consideration are aimed at larger banks, and would be intended to ensure they can readily access funds to offset surprise losses or deposit flight, he said. Barr did not say when he expected regulators to propose such changes.

Fed's Barr says regulators considering 'adjustments' to liquidity rules

Malaysia’s exports rebounded at a slower-than-expected 9.1% in April from a year earlier, as a surge in shipments of machineries, chemicals and palm oil offset a decline in deliveries of petroleum products and subdued electronics demand, official data Monday showed.

Malaysia's exports rebound slower than expected in April, official data shows

Property development and management group Menang Corp (M) Bhd (KL:MENANG) has declared a special dividend of six sen a share as its quarterly earnings rose to a six-year high.

Menang declares six sen special dividend as earnings rises to six-year high

<p>Iran's President Ebrahim Raisi was killed in a helicopter crash, an Iranian official and <i>Mehr</i> news agency reported on Monday. Below is a brief outline of what Iran's constitution says happens when a president is incapacitated or dies in office:</p>


What happens in Iran when a president dies in office?

<p>The High Court has ordered former Mara Corp chief executive officer (CEO) Datuk Badlisyah Abdul Ghani to pay the firm RM3.4 million after finding him guilty for breach of duty during his three-month term with the company, which is the investment and commercial arm of Majlis Amanah Rakyat.</p>


Former Mara Corp CEO ordered to pay RM3.4m to company for breach of duty

<p>AS more investments continue to pour into the data centre (DC) industry, companies are looking to tap opportunities in either the DC construction, fit-out or testing and commissioning segments.</p>

<p>Notably, the artificial intelligence (AI) boom has spurred demand for digital infrastructure,...

Data centre-linked stocks gain traction on news flow

<p>Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest banking group by assets, said on Monday its net profit slipped 3.5% for the first quarter ended March 31, 2024 (1QFY2024) from a year earlier, mainly due to higher personnel costs and higher provisions.</p>


Public Bank's 1Q net profit slips 3.5% on higher costs, provisions

<p>A senior banker from Maybank Investment Bank Bhd, Kevin Davies, is said to be moving to smaller-sized rival RHB Investment Bank Bhd to take on the CEO role, according to at least three industry sources.</p>

<p>“The move is subject to regulatory approvals,” one of the sources tells The Edge.</p...

Maybank senior banker Kevin Davies said to be headed to RHB

<p>Shares in gold-related counters surged on Monday after the precious metal notched a fresh all-time high as investor demand soared across the broader metals market amid increasing optimism that the US will cut interest rates this year.</p>


Poh Kong leads rally in gold-linked stocks as the precious metal hits fresh record

<p>Bursa Malaysia said on Monday it is introducing Trading Reminders, a new tool that highlights unusual trading activity in addition to queries issued over spikes in prices and volumes.</p>


Bursa introduces Trading Reminder flag on top of unusual market activity queries

<p>Electronics manufacturing services firm Notion VTec Bhd (KL:NOTION) charted a new three-year high on Monday, as Bursa Malaysia’s Technology Index touched a new one-year high following the US’ plan to hike tariffs on semiconductors from China.</p>


Notion VTec charts new three-year high amid rally in tech stocks

<p>RHB Investment Bank Research has maintained its 'buy'&nbsp;rating for&nbsp;Gamuda Bhd (KL:GAMUDA) at RM5.58, with a higher target price of RM6.55 (from RM6.30), and said it is upbeat on the prospects Ho Chi Minh City (HCMC) has for Gamuda’s property arm.</p>


RHB IB upbeat on Gamuda’s prospects in Ho Chi Minh City, raises target price to RM6.55

<p>Gold prices hit an all-time high on Monday, as a slowing US inflation trend boosted expectations the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak.</p>

<p>Spot gold rose 1% to US$2,438.44 per ounce, as of 0811 GMT, after hitting a record high of US$2,449.89 earlier in the session. US gold futures GCcv1 rose 1.1% to US$2,442.60.</p>


Gold hits record peak as rate-cut bets burnish appeal, silver jumps

<p>Maxis Bhd’s (KL:MAXIS) intention to build a second fifth-generation (5G) network could potentially put the group’s financial position and future earnings under pressure, according to analysts.</p>


Maxis' financial position could face pressure from proposed second 5G network, say analysts

<p>theedgemalaysia.com&nbsp;<wbr />highlighted one stock with positive momentum and 16 stocks with negative momentum at Bursa Malaysia's afternoon close on Monday. &nbsp;</p>


Cahya Mata Sarawak, Willowglen, Oceancash, Excel Force, Manulife, MBSB, MFM, Panasonic, ELK-Desa, Puncak Niaga, BIG Industries, Astral Asia, Niche Capital Emas, Hextar Retail, Arka, AHB, Dataprep

<p>Bumiputera-mandated agencies under the Ministry of Economy will move away from giving out ‘free money’ or grants, to focus on providing financial leverage and assistance for business expansion, its minister Rafizi Ramli said on Monday.</p>


Bumiputera agencies to move away from giving out 'free money', says Rafizi

<p>Foreign buying of Malaysian equities was sustained for the fourth consecutive week with a total of RM873.9 million last week, leading to a year-to-date net inflow of RM4.9 million.</p>

<p>In its fund flow report on Monday, the MIDF Research team said the sustained interest in the domestic market may have stemmed from economic optimism, as recent data revealed a 4.2% year-on-year rise in gross domestic product in the first quarter of 2024.</p>


Foreign buying of M'sian equities sustained for fourth week with RM874m inflow, says MIDF

<p>Malaysia is expected to see a "potential upswing" in external demand, particularly from China, while also benefitting from the imposition of US tariffs on Chinese goods, including electric vehicles (EVs) and their components, said TA Securities.</p>


Malaysia to benefit from China demand, US tariffs on Chinese EVs — TA Securities

<p>The government has decided to once again extend the freeze on foreign worker applications, according to Home Minister Datuk Seri Saifuddin Nasution Ismail.</p>


Govt extends freeze on foreign worker applications, no new quota

<p>Malaysia Airports Holdings Bhd’s (KL:AIRPORT) traffic expanded by 7.6% to 11 million passengers in April 2024, compared with the preceding month's 10.2 million passengers.</p>


MAHB's passenger traffic hit 11 million in April, 7.6% higher month-on-month

<p>Malaysia’s exports rebounded at a slower-than-expected 9.1% in April from a year earlier, as a surge in shipments of machineries, chemicals and palm oil offset a decline in deliveries of petroleum products and subdued electronics demand, official data Monday showed.</p>


<p>Asian shares hit two year highs while copper and gold struck records on Monday as investors wagered on interest rate cuts around the corner and China stepping up efforts to steady its ailing property sector.</p>


Metals, stocks surge as rate cut expectations firm 

<p>Crude palm oil prices (CPO) are expected to range between RM3,700 to RM3,950 this month as seasonal recovery production push prices down, according to the Malaysian Palm Oil Council (MPOC).</p>
