<div class=newsTextDataWrapInner>KUALA LUMPUR (April 15): Kenanga Research has maintained its “market perform” (MP) rating of LPI Capital Bhd at RM13.98 with a lower target price (TP) of RM14.10 (from RM14.20) and said LPI’s core net profit of RM61.5 million (-25%) for the first quarter ended March 31, 2022 (1QFY22) missed estimates as premiums were diminished by greater reinsurance needs.</div>

<div class=newsTextDataWrapInner>In a note on Friday (April 15), the research house said that going forward, the group could see some tough spots with greater competition in the fire insurance space with further liberalisation likely to fuel further pricing pressures.</div>

<div class=newsTextDataWrapInner>“Meanwhile, claims (namely motor) are expected to return as economic activity resumes.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>“We cut our FY22/FY23&nbsp;projections by 19%/11% to reflect this. We maintain 'MP' but reduce our TP&nbsp;to RM14.10 (from RM14.20),” it said.</div>

<div class=newsTextDataWrapInner>Read also: 
<a href="https://www.theedgemarkets.com/article/lpi-capitals-1q-net-profit-down-25-lower-investment-income-contribution-insurance-unit" target="_blank">LPI Capital’s 1Q net profit down 25% on lower investment income and contribution from insurance unit</a></div>

Kenanga Research has maintained its “market perform” (MP) rating of LPI Capital Bhd at RM13.98 with a lower target price (TP) of RM14.10 (from RM14.20) and said LPI’s core net profit of RM61.5 million (-25%) for the first quarter ended March 31, 2022 (1QFY22) missed estimates as premiums were diminished by greater reinsurance needs.

Kenanga Research trims target price for LPI Capital to RM14.10

KUALA LUMPUR (May 6): Prime Minister Datuk Seri Anwar Ibrahim called for a global unified response on Monday, as the world confronts an increasingly fragmented global landscape that threatens collective security and prosperity.

Anwar calls for unified response as world confronts fragmented global landscape

Riyadh Air plans to expand its fleet with additional aircraft orders following its initial purchase of Boeing Co long-range jets last year, as the startup Saudi carrier seeks to establish itself alongside regional incumbents like Emirates and Qatar Airways.

Riyadh Air teases follow-up aircraft orders ahead of 2025 debut

THE long-awaited sale of Sapura Energy Bhd’s remaining 50% stake in its exploration and production (E&P) unit — SapuraOMV Upstream Sdn Bhd — has finally come to pass. However, its largest shareholder, Permodalan Nasional Bhd (PNB), cannot breathe a sigh of relief yet.

Last week, the...

Sale of crown jewel alone won’t revive Sapura Energy

The Court of Appeal (COA), in reinstating four graft charges against former prime minister Tan Sri Muhyiddin Yassin, has ruled that the charges met all the ingredients of an offence under stipulated laws, and were not ambiguous.

COA rules Muhyiddin’s four charges clear enough, unambiguous 

One of China’s most-watched developers has told some investors that it readied cash for an upcoming yuan bond payment, a move that may boost a firm that’s faced concern about its liquidity amid a broader property debt crisis.

China Vanke says it has the money to pay upcoming bonds due

STOCKHOLM (May 6): Swedish real estate group SBB reported on Monday a first-quarter pretax loss that was smaller than a year ago but said it needed to improve its liquidity and lower its loan-to-value ratio.

Sweden’s SBB says financing outlook improving as loss shrinks

Late last year, a Chinese carrier accidentally sold flight tickets at about US$1.30 each during a two-hour technical glitch in its mobile phone app and some ticket booking platforms. Naturally, consumers started sharing the great deal on social media until the airline company rectified the glitch.

Coffee Break: A matter of honour?

Embattled French tech company Atos SE has received offers to help bail out the company that will frame the discussions with its stakeholders around its restructuring.
 
David Layani’s OnePoint, a group of Atos creditors, private equity firm Bain Capital and billionaire Daniel Kretinsky alongside credit fund Attestor Ltd submitted offers last week, the company said in a statement on Monday. The company decided not to pursue discussions with Bain Capital because the private equity firm’s offer didn’t meet Atos’ objectives.

Atos gets buyout offers from billionaire Kretinsky, OnePoint

KUALA LUMPUR (May 6): Defence Services Asia (DSA) 2024 and National Security Exhibition (Natsec) Asia 2024 are able help the country gauge whether its defence assets are in line with the latest technological advances.

Asia defence services and security exhibition a medium to evaluate national assets in line with current tech — minister

Black Hawk helicopters descended to Itbayat before noon on Monday, ushering a platoon of US and Philippine marines to conduct rare military drills on the Southeast Asian nation’s northernmost inhabited island — and one of its closest to Taiwan.

US holds drills with the Philippines at tiny island near Taiwan

BMI, a Fitch Solutions company, said Malaysia's deepwater explorations are expected to accelerate as more investments are directed towards under-explored areas.

BMI: Deepwater exploration in Malaysia gathers momentum

The FBM KLCI’s uptrend has been relentless since mid-April as accumulation on blue chips&nbsp;by both local institutions and foreign funds continues, according to Rakuten Trade.

Banks, construction to be in focus as FBM KLCI could test 1,600 soon, says Rakuten Trade 

Fraser &amp; Neave Holdings Bhd (F&amp;N) shares surged to their highest in five years on Monday, as better-than-expected results buoyed investors' optimism, while analysts maintained their calls following a briefing.

F&N surges to five-year high on better earnings, outlook

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

In an alert last Thursday, the commission said the following persons/entities were added to the list:

SC adds six entities to Investor Alert List, four being potential clones

Maybank Investment Bank (Maybank IB) on Monday began coverage of SAM Engineering &amp; Equipment (M) Bhd with a counter-consensus ‘buy’ call, betting on the cyclical recovery of aerospace and semiconductor sectors.

Maybank IB joins coverage of SAM Engineering with counter-consensus ‘buy’ call

Foreign buying of Malaysian equities surged 3.6 times to RM1.06 billion last week from RM292.2 million the prior week, as they net bought every day of the week.

Foreign buying of local equities surged to RM1.06b last week, says MIDF

Prime Minister Datuk Seri Anwar Ibrahim will be having an online meeting with tech giant Google on Monday.

Without disclosing more details on the issues to be discussed, he said Malaysia has continued to receive interests from foreign investors.

Anwar scheduled to have online meeting with Google on Monday

Phillip Capital has initiated coverage on T7 Global Bhd with a “buy” rating at 53 sen and a target price of 68 sen.

Phillip Capital starts coverage on T7 Global, target price 68 sen 

Proton Holdings Bhd reported on Monday its car sales rose by 17.1% to 11,025 vehicles in April (including domestic and exports) compared to the 9,415 units sold last year.&nbsp;

Proton records sales of 11,025 units in April, higher by 17.1% y-o-y

LONDON (May 6): High Chinese tariffs on EU brandy would leave French companies with vast amounts of cognac that could be hard to sell elsewhere, according to Reuters' calculations, analysts, and investors who fear firms could be forced to discount.

China opened an anti-dumping investiga...

Chinese tariffs could leave cognac makers with too much brandy

KUALA LUMPUR (May 6): Defence Services Asia (DSA) 2024 and National Security Exhibition (Natsec) Asia 2024 are able help the country gauge whether its&nbsp;defence assets are in line with the latest technological advances.

Robusta coffee prices have climbed to the highest in 45 years, according to the International Coffee Organisation (ICO), as a supply crunch intensifies for the variety used in espresso blends and instant drinks.

Coffee variety priciest in 45 years in blow to instant brews

Asian stocks rose to their highest in over a year on Monday on renewed bets that the Federal Reserve (Fed) would most likely ease rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention.

Asia shares rally on China's gains, Fed cut bets; yen weakens

The Attorney General's Chambers (AGC) will be objecting to Muar Member of Parliament Syed Saddiq's leave application to take legal action against Prime Minister Datuk Seri Anwar Ibrahim and the government over RM730,300 in allocations meant for his constituency.

AGC to object to Syed Saddiq's leave application over unpaid allocations

President Xi Jinping has arrived in France to begin talks aimed at stabilising China’s relationship with Europe, as he tries to perform damage limitation on trade ties with the key bloc.

Xi begins Europe tour in Paris as Macron seeks to reset ties

Billionaire investor Warren Buffett said there are “load of opportunities” in India, but he’s leaving them to future management.

Buffett says India holds ‘unexplored’ opportunities for future Berkshire leaders

Analysts have raised their earnings forecasts and target prices (TPs) for plastic packaging maker SLP Resources Bhd, after the group's latest financial results beat their expectations due to improved product mix and higher output.

Analysts raise SLP Resources earnings forecasts, TPs after strong 1Q performance

NCT Group of Companies has signed memorandums of understanding (MOUs) with SMARTSEL Sdn Bhd and Mikro Sdn Bhd to scale up the capabilities of the NCT Smart Industrial Park (NSIP), while introducing advanced sustainability practices geared to positively impact its carbon footprint.

NCT inks deal to integrate 4G and 5G networks at NCT Smart Industrial Park

Across much of the developed world, one of the most dependable drivers of economic growth is faltering.

For decades, the rapid inflow of migrants helped countries including Canada, Australia and the UK stave off the demographic drag from aging populations and falling birth rates.

Global housing shortages are crushing immigration-fuelled growth

theedgemalaysia.com highlighted one stock with positive momentum and five stocks with negative momentum at Bursa Malaysia's afternoon close on Monday. &nbsp;