<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 5): Hong Leong IB Research (HLIB) has initiated coverage on Mitrajaya Holdings Bhd with a Buy rating and target price of RM1.52 and said the conpany’s orderbook of RM1.3 billion implied superior revenue cover of 6 times.</p></div>

<div class=newsTextDataWrapInner><p>It said Mitrajaya had RM2 billion in tenders, and another potential contract by year end.</p></div>

<div class=newsTextDataWrapInner><p>The research house said it expect strong take up for the company’sWangsa 9 development.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Earnings to double this year, 3 year CAGR at 40%</p></div>

<div class=newsTextDataWrapInner><p>“Initiate with Buy, RM1.52 target price (55% upside), our top small cap construction pick</p></div>

<div class=newsTextDataWrapInner><p>“At current price investors are getting its land at 48% discount and all its core business for free,” it said.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (Nov 5): Hong Leong IB Research (HLIB) has initiated coverage on Mitrajaya Holdings Bhd with a Buy rating and target price of RM1.52 and said the conpany’s orderbook of RM1.3 billion implied superior revenue cover of 6 times.

It said Mitrajaya had RM2 billion in tenders, an...

HLIB Research starts coverage on Mitrajaya,target price RM1.52

Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.

Bursa opens higher tracking overnight Wall Street

The ringgit rebounded in early trade on Wednesday as the US dollar retreated after S&P Purchasing Managers' Index (PMI) data disappoint.

Ringgit rebounds on softer US dollar after PMI data

Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright lands solar supply deal after forming JV company with Doople

KUALA LUMPUR (April 24): Rakuten Trade said Nationgate Holdings Bhd may extend it upward trajectory after breaking out from its one-month rectangular pattern yesterday.

In a technical view note on Wednesday, the research house said that in view of the stock bouncing off the 20-day expon...

Nationgate may extend upward trajectory, says Rakuten Trade 

KUALA LUMPUR (April 24): RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.

In a trading stocks note on Wednesday, the research house said that as such, the bullish momentum may...

Censof observing a technical breakout, says RHB Retail Research 

KUALA LUMPUR (April 24): RHB Retail Research said YBS International Bhd is set to resume its uptrend after climbing above the 80.5 sen immediate resistance, surpassing the 21-day simple moving average line.

In a trading stocks note on Wednesday, the research house said that the bullish ...

YBS International set to resume uptrend, says RHB Retail Research 

MIDF says Axis REIT is strengthening its presence in Bukit Raja.

MORNING CALL: 24/4/24

Mergers and acquisitions (M&A) activities fell to the lowest in a decade in 2023. According to the “Global M&A Report” published by Bain & Co, the total M&A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.

M&A activities hit a low in 2023, pickup expected this year

(April 24): Goldman Sachs Group Inc. shares rose to a record on Tuesday, eclipsing their previous closing high set more than two years ago.

The investment banking giant reported first-quarter earnings last week that included a massive profit beat, which one analyst heralded as a “near-p...

Goldman Sachs shares rise to notch first record high since 2021

(April 24): Digital payments company Block Inc., formerly known as Square, has finished the development of its Bitcoin mining chip as Chief Executive Jack Dorsey continues to advocate for a more accessible and decentralized system — an effort he’s championed since 2021.

The three-nanome...

Jack Dorsey’s block finishes development of Bitcoin mining chip

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

<p>The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.</p>


Critical point failure could’ve led to fatal Lumut chopper crash, says expert

<p>Chin Hin Group Bhd’s conditional mandatory takeover offer to acquire the remaining shares it does not own in Signature International Bhd has turned unconditional, after it aggregated more than 50% of the voting shares.</p>


Chin Hin's MGO for Signature International turns unconditional as shareholding surpasses 50%

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>The M503-3 Maritime Operations Helicopter (HOM) that was involved in a crash Tuesday morning was used for the first time in the flyby for the 90th Royal Malaysian Navy (TLDM) Anniversary parade.</p>


Downed HOM chopper used for the first time in flyby, says defence minister 

<p>Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.</p>


Sarawak eyeing partnership with UK companies to boost semicon capabilities

<p>(April 24): U.S. stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.</p>

<p>Tesla kicked off the earnings cycle for technology heavyweights after markets c...

Wall Street closes higher as investors digest earnings, megacap outlook

<p>KOTA KINABALU (April 23): The Kibing Group has successfully exported its inaugural batch of solar glass manufactured in Sabah, totalling 672 tonnes, to Cambodia last Sunday (April 21).&nbsp;</p>


Kibing Group exports 672 tonnes of Sabah’s first batch of solar glass to Cambodia

<p>Inta Bina Group Bhd has bagged a contract worth RM169.67 million to develop a serviced apartment project in Country Heights.</p>


Inta Bina bags RM170m serviced apartment job in Country Heights

<p>Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.</p>


Stocks gear up for Big Tech earnings; yen touches multi-year lows

<p>IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.</p>


Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

<p>(April 24): Tesla Inc. is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.</p>

<p>The electric-vehicle maker plans to start production on the cheaper cars before the second half of 2025, when it had previously pledged to begi...

Tesla to accelerate launch of cheaper cars after sales miss

<p>KOTA KINABALU (April 23):&nbsp;The Sabah government has not imposed state sales tax&nbsp;and the Royal Malaysian Customs Department has also not levied export duties on gold taken out of Sabah to Peninsular Malaysia, the Sabah State Legislative Assembly was told on Tuesday.</p>


No sales tax, export duties on gold taken out of Sabah to peninsula

<p>Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.</p>


Wall Street gains on bright earnings, megacaps' support

<p>US business activity cooled in April to a four-month low due to weaker demand, while rates of inflation eased slightly even as input prices rose sharply, suggesting some possible relief ahead as the Federal Reserve looks for signs that the economy is ebbing enough to bring inflation down further.</p>


US business activity cools in April; inflation measures mixed 

<p>Office furniture maker AHB Holdings Bhd’s foray into the electric vehicles (EV) business has encountered a setback as its planned acquisition of a 51% stake in automotive distributor CAF Motor Sdn Bhd was mutually terminated.</p>


AHB's proposed acquisition of EV automotive distributor scrapped

<p>Mergers and acquisitions (M&amp;A) activities fell to the lowest in a decade in 2023. According to the “Global M&amp;A Report” published by Bain &amp; Co, the total M&amp;A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.</p>


<p>HHRG Bhd, formerly known as Heng Huat Resources Group Bhd, aims to raise between RM16.1 million and RM18.14 million through a private placement of up to 10% of its expanded issued share capital to yet-to-be identified third-party investors, at a price to be fixed.</p>


HHRG plans to raise up to RM18.14m via placement for working capital

<p>KUALA LUMPUR (April 24): RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.</p>

<p>In a trading stocks note on Wednesday, the research house said that as such, the bullish momentum may...

<p>KUALA LUMPUR (April 24): Rakuten Trade said Nationgate Holdings Bhd may extend it upward trajectory after breaking out from its one-month rectangular pattern yesterday.</p>

<p>In a technical view note on Wednesday, the research house said that in view of the stock bouncing off the 20-day expon...