<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 24): Hong Leong IB Research has downgraded IOI Properties Group Bhd (IOIPG) to Hold with a lower target price of RM2.64 (from RM3.94) and said the company’s 1QFY15 PATAMI of RM101.0 million came in below expectations, mainly due to higher-than-expected expenses and effective tax rate.</p></div>

<div class=newsTextDataWrapInner><p>In a note Monday, HLIB said year-to-date unbilled sales stood at RM1.43 billion, representing 0.95x of IOIPG’s FY14 revenue.</p></div>

<div class=newsTextDataWrapInner><p>The research house said it trimmed its FY15-17 EPS by approximately 22-25% as it turned more conservative on the group’s prospects.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Target porice is lowered to RM2.65 (from RM3.94) after taking into account earnings revision and higher discount to RNAV of 30% (vs. 20% previously).</p></div>

<div class=newsTextDataWrapInner><p>“Our target price of RM2.65 valued IOIPG at 18.5x FY15 P/E, vs. 18.7x FY15 P/E which UEM Sunrise is currently trading at.</p></div>

<div class=newsTextDataWrapInner><p>“We also downgraded our recommendation to Hold in view of persistent earnings disappointment,” it said.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (Nov 24): Hong Leong IB Research has downgraded IOI Properties Group Bhd (IOIPG) to Hold with a lower target price of RM2.64 (from RM3.94) and said the company’s 1QFY15 PATAMI of RM101.0 million came in below expectations, mainly due to higher-than-expected expenses and effective tax...

HLIB Research downgrades IOI Properties to Hold, cuts target price to RM2.65

The FTSE Bursa Malaysia KLCI’s (FBM KLCI) rise to its highest level this year at 1,567.57 points under the administration of the unity government, led by the Prime Minister Datuk Seri Anwar Ibrahim, confirms that the Malaysian economy will continue to strengthen.

Rafizi sees Malaysian economy strengthening alongside Bursa

(April 23): Philip Morris International on Tuesday surpassed market expectations for first-quarter profit and revenue, helped by robust demand for its heated tobacco product and Zyn nicotine pouches.

The Marlboro maker's flagship heated tobacco device IQOS, expected to launch in the Uni...

Philip Morris results beat estimates on demand for heated tobacco sticks

Comfort Gloves Bhd said there was a fire at the glove maker’s newly-built three storey warehouse and packing department in Taiping, Perak on Tuesday morning.

“The cause of the fire and the actual extent of the damage are currently still unknown, pending the completion of police investigations into the fire and issuance of their report,” the group said in a bourse filing.

Comfort Gloves reports fire at new Taiping warehouse

KomarkCorp Bhd, which lost its defamation suit against The Edge Communications Sdn Bhd in the High Court last month, is appealing against the court's decision, which found that the media company had not defamed it in an article about the manipulation of penny stocks that was published nearly three years ago.

KomarkCorp appeals against High Court's ruling that The Edge did not defame company

KUALA LUMPUR (April 23): The Iskandar Regional Development Authority’s (IRDA) target to achieve cumulative investments of RM636 billion by 2030 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness.

Iskandar Malaysia’s RM636 bil investment goal to help propel country into top 30 global economies — PM

Spotify's quarterly gross profit topped €1 billion (RM5.3 billion) for the first time after it reined in marketing spending, although that meant the music streaming giant missed its forecast for monthly active users.

Spotify profits up, but lower marketing hits user growth

Ramssol Group Bhd, a human capital management (HCM) solutions provider, reported a near doubling of its first quarter profit mainly due to certain projects with higher profit margin and the distributorship of HCM licences.

Ramssol’s 1Q profit doubles as revenue surges on higher sales in Malaysia, Thailand

Axis Real Estate Investment Trust (Axis REIT) reported a 39.5% surge in its net trust income for the first quarter ended March 31, 2024 (1QFY2024), attributable to post-development contributions from its Bukit Raja Distribution Centre 2, and new tenancies in its Shah Alam Distribution Centre 3.

Axis REIT sees 40% jump in 1Q net trust income, to distribute 2.3 sen per unit

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

KPJ, IHH extend rally as analysts bet on upside

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.

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

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


<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>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>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>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>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>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>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>


<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>KUALA LUMPUR (April 23): Malaysia has emerged as the most significant country within Asean for businesses to venture into, as shown by the UOB Business Outlook Study 2024 (SMEs &amp; Large Enterprises).</p>


Malaysia emerges as prime destination for Asean biz expansion — UOB study

<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>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>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>PETALING JAYA (April 23): Tropicana Corp Bhd is partnering with Maybank Islamic Bhd to provide a home financing solution called Maybank Islamic’s HouzKEY.&nbsp;</p>


Tropicana partners Maybank Islamic to offer HouzKEY home financing solution

<p>Cypark Resources Bhd said on Tuesday that its 100MW Large Scale Solar 3 (LSS3) hybrid solar plant project in Merchang, Terengganu, will transition to full commercial operations by next month.</p>

<p>In a statement, the group said the plant consists of 83MWac (megawatt, alternating current) ground-mounted solar photovoltaics and 32MWac floating solar photovoltaics.</p>


Cypark's LSS3 solar plant in Terengganu set for commercial operations next month

<h3><strong><span style="color:#d35400;">MyEG Services Bhd</span></strong></h3>

<p>Target price: <strong>RM1.15 <span style="color:#27ae60;">ADD</span></strong></p>

<div class="mt-3 imgw-300 embed-right"><a class="mobx embedimg-icon" data-desc="xxx" data-rel="ceolightbox" href="//myassets.thee...

Brokers Digest: Local Equities: MyEG Services Bhd, Mah Sing Group Bhd, Tan Chong Motor Holdings Bhd, Gamuda Bhd 

<p>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.&nbsp;</p>


Bursa ends higher on buying support from local and foreign institutions

<p>High crude oil prices&nbsp;caused by&nbsp;tension in the Middle East&nbsp;will help to boost Malaysia's oil and gas exports. However, escalated fuel&nbsp;prices will dampen the country’s economic growth, according to the Socio-Economic Research Centre (SERC).</p>
