<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 19): Public IB Research has valued Main Market-bound FoundPac Group Bhd (FoundPac) at 63 sen.</p></div>

<div class=newsTextDataWrapInner><p>FoundPac is scheduled for listing on Dec 29. The company commenced its operations in the trading of precision engineering parts in May 2005.</p></div>

<div class=newsTextDataWrapInner><p>In a note today, Public IB Research said that over the years, FoundPac has expanded into design, development and manufacturing activities, serving semiconductor companies based in North America, Europe and Asia.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>It said the group aims to grow its production capacity through acquisition of new machines, diversify its customer base to include end-user industries and establish more sales offices in overseas markets.</p></div>

<div class=newsTextDataWrapInner><p>“FoundPac has a clean balance sheet with a net cash of RM20 million. Proceeds from the public offering will mainly be utilized for capital expenditure and working capital purposes.</p></div>

<div class=newsTextDataWrapInner><p>“We value FoundPac at 63sen, pegging it at 13x FY18F earnings. Our fair value implies a potential upside of 17%,” it said.</p></div>


KUALA LUMPUR (Dec 19): Public IB Research has valued Main Market-bound FoundPac Group Bhd (FoundPac) at 63 sen.

FoundPac is scheduled for listing on Dec 29. The company commenced its operations in the trading of precision engineering parts in May 2005.

In a note today, Public ...

Public IB Research values Main Market-bound FoundPac at 63 sen

NEW YORK (April 17): Wall Street see-sawed to a mixed close on Tuesday as rising U.S. Treasury yields and elevated geopolitical worries counteracted a generally positive string of first-quarter corporate results.

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(April 17): Britain condemns the killing of Israeli teenager Binyamin Achimair and is alarmed by the "shocking levels of violence" in the occupied West Bank after his death, the country's foreign office said in a statement on Tuesday.

"These killings, and subsequent actions, are escalat...

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WASHINGTON (April 16): US Treasury Secretary Janet Yellen on Tuesday warned that the US intends to hit Iran with new sanctions in coming days over its unprecedented attack on Israel, and these actions could seek to reduce Iran’s capacity to export oil.

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KUALA LUMPUR (April 16): The Unity Secretariat meeting, held on Tuesday night, discussed preparations to strengthen machinery and the working mechanism of parties within the Unity Government, in preparation for next month’s Kuala Kubu Baharu by-election.

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WASHINGTON (April 16): Iran’s unprecedented missile and drone strike on Israel is unlikely to prompt dramatic sanctions action on Iran’s oil exports from the Biden administration due to worries about boosting oil prices and angering top buyer China, said analysts.

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KUALA LUMPUR (April 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

MyEG, HeiTech Padu, Apex Healthcare, Globetronics Technology, Kossan Rubber, Tomei, GDEX, Serba Dinamik, Alpha IVF and Comfort Gloves

KUALA LUMPUR (April 16): The 14-year-old daughter of Lahad Datu police chief ACP Dzulbaharin Ismail was found dead in a pool of blood, in a room at her home in Taman Tabanak, Lahad Datu on Tuesday.

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<p>Outsourced semiconductor assembly and testing (OSAT) player Globetronics Technology Bhd is in the final stages of discussion with two prospective clients interested in leveraging advanced packaging technology.</p>


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<p>Practice Note 17 (PN17) company Serba Dinamik Holdings Bhd said it had been granted an extension of time until May 15 by Bursa Malaysia to submit its regularisation plan.</p>


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<p>ISKANDAR PUTERI (April 16): The Johor government wants to develop a multi-tiered Automated Rapid Transit (ART) system in Johor Bahru to address traffic congestion in the city.</p>


MB: Multi-tiered Automated Rapid Transit system planned to overcome Johor Bahru congestion

<p>The Ministry of Investment, Trade and Industry (Miti) will draw up a comprehensive semiconductor strategic plan to ensure that Malaysia continues to be the chosen investment destination for this strategic industry, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


Anwar: Miti to draw up comprehensive semiconductor strategic plan

<p>Bursa Malaysia ended lower for the second consecutive day on Tuesday, tracking the weak global sentiment due to the Middle East conflict, said an analyst. &nbsp;</p>


Bursa closes lower, tracking weak global sentiment

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>KUALA LUMPUR (April 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:</p>


<p>KUALA LUMPUR (April 16): Malaysian airlines will be hurt by higher fuel costs, even as escalating geopolitical tensions in the Middle East are not expected to dent ticket sales, analysts said.</p>


Local airlines may feel heat from rising oil prices as Middle East tensions simmer — analysts

<p>Kossan Rubber Industries Bhd has proposed a final dividend of two sen per share for the financial year ended Dec 31, 2023 (FY2023).</p>

<p>The final dividend will be paid on July 18, with June 20 as the ex-date and June 21 as the entitlement date, the glove maker said in a bourse filing on Tuesday.</p>


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<p>Tesla Inc&nbsp;shares extended their decline for 2024, pushing the electric-vehicle (EV) maker’s market valuation below US$500 billion (RM2.40 trillion), as a round of job cuts this week further soured sentiment around the company.&nbsp;</p>


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<p>KUALA LUMPUR (April 16): Bursa Malaysia Bhd is collaborating with the UK government’s Mobilising Institutional Capital Through Listed Product Structures (Mobilist) programme to help address the funding gap needed in Malaysia to achieve the United Nations’ (UN) Sustainable Development Goals (SDGs) by 2030.</p>


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<p>Former prime minister Tun Dr Mahathir Mohamad said on Tuesday that the Malaysian Anti-Corruption Commission (MACC) has accused him of abusing power for personal gain.</p>


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<p>KUALA LUMPUR (April 16): Newly-listed fertility care company Alpha IVF Group Bhd made a net profit of RM13.59 million for its third quarter ended Feb 29, 2024 (3QFY2024), on a revenue of RM40.7 million.</p>


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<p>KUALA LUMPUR (April 16): The 14-year-old daughter of Lahad Datu police chief ACP Dzulbaharin Ismail was found dead in a pool of blood, in a room at her home in Taman Tabanak, Lahad Datu on Tuesday.</p>


<p>KUALA LUMPUR (April 16): Express carrier GDEX Bhd, which has been in the red for the last two financial years, is planning to diversify into the provision of information technology (IT) services and solutions to enhance its revenue stream.</p>


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<p>KUALA LUMPUR (April 16): Comfort Gloves Bhd said two subsidiaries of the group have commenced legal action over an additional tax demand totalling RM99.3 million by the Inland Revenue Board (IRB).</p>


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<p>When the group of mining executives arrived at Panama’s regal Palacio de las Garzas, they were ushered past the ornate, wood-panelledd ceremonial rooms and straight to the private office of the president.</p>


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<p>Crude palm oil (CPO) prices, which surged in March 2024 to hit a peak of RM4,327 a tonne,&nbsp;are expected to move within a stable range of RM4,000 to RM4,200 a tonne this month, according to&nbsp;the Malaysian Palm Oil Council (MPOC).</p>
