<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 15): PublicInvest Research has maintained its “Neutral” rating on CIMB Group Holdings Bhd at RM5.75 with a lower target price of RM6.40 after the deal which would have seen the creation of the nation’s largest banking group by asset size and the accompanying creation &nbsp;of a mega-Islamic bank was called off.</p></div>

<div class=newsTextDataWrapInner><p>“Current economic conditions and the difficulties in arriving at a value-creating transaction &nbsp;for all stakeholders were cited as the deal-breakers,” it said in a note Thursday.</p></div>

<div class=newsTextDataWrapInner><p>The research house said with focus now back on CIMB as a single entity, there could be some trading &nbsp;interest returning to the stock, though price upside will be capped by near-term fundamental challenges.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“While we continue to believe &nbsp;in the longer-term prospects and intrinsic value of the group, currently weak capital markets, economic conditions and foreign &nbsp;exchange volatilities will be an overhang on earnings.</p></div>

<div class=newsTextDataWrapInner><p>“Our Neutral call is retained, but with a lowered target price of RM6.40 &nbsp;as we reduce our dividend-growth assumptions,” it said.</p></div>


KUALA LUMPUR (Jan 15): PublicInvest Research has maintained its “Neutral” rating on CIMB Group Holdings Bhd at RM5.75 with a lower target price of RM6.40 after the deal which would have seen the creation of the nation’s largest banking group by asset size and the accompanying creation  of a ...

PublicInvest Research maintains Neutral on CIMB, trims target price to RM6.40

German coal mines spew 184 times more methane than what the country reports to the United Nations, according to a new analysis by Ember.

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The Indonesian rupiah on Tuesday tumbled to its weakest in four years as the market reopened after the Eid al-Fitr holidays, prompting the central bank to intervene in the market to stem its slide.

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The Malaysian Communications and Multimedia Commission (MCMC) has been instructed to track down and take action against the owner of the TikTok account @janggut_putih, who is suspected of uploading content containing defamatory material.

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Nissan Motor Co will use gigacasting, a manufacturing process pioneered by Tesla Inc, to make part of its electric vehicles (EVs) as the automaker joins global rivals in pursuing the innovation to cut costs.

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China's central city of Zhengzhou has asked residents to sell their second-hand homes to a local state-owned company and buy new ones instead, in a bid to reduce new-home inventories and boost the local property sector.

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European Commission President Ursula von der Leyen is unleashing a barrage of trade restrictions against China as she seeks to follow through on a pledge to make the EU a more relevant political player on the global stage.

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MIDF Research expects crude palm oil (CPO) prices to moderate in the second quarter of 2024 (2Q2024), yet predicts a month-on-month (m-o-m) increase of 4.6% to RM4,410.5 per tonne in April due to mild El Niño events.

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A tumbling yen is spurring traders to game plan how much further Japan’s beleaguered currency can fall even with the specter of intervention looming.

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Britain’s unemployment rate rose unexpectedly to the highest in six months as the number of jobs in the economy shrank, an indication that the once red-hot labour market.

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Apple Inc CEO Tim Cook said on Tuesday in Hanoi the US tech giant wanted to boost its investment in Vietnam, state media reported.

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<p>The collective wealth of tycoons listed on the 2024 Forbes Malaysia Rich List increased by a modest 2% to US$83.4 billion (RM398.8 billion), according to <i>Forbes Asia</i>.</p>


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<p>Datuk Abdul Rahman Ahmad will return to Permodalan Nasional Bhd (PNB) as its president and group chief executive effective July 1, 2024, the government-linked investment company said.</p>


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<p>E-government services providers MyEG Services Bhd and HeiTech Padu Bhd have formed a partnership to collaborate on IT projects in Malaysia.</p>

<p>According to separate bourse filings from both companies on Tuesday, MyEG and HeiTech Padu have inked a teaming agreement for the collaboration.&nbsp;</p>


MyEG, HeiTech Padu form partnership to collaborate on IT projects

<p>CIMB Group Holdings Bhd, Malaysia’s second-biggest banking group by assets, said on Tuesday its chief executive Datuk Abdul Rahman Ahmad will step down on June 30.</p>


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<p>Alliance Bank Malaysia Bhd’s (ABMB) net profit is expected to jump by 37.3% year-on-year (y-o-y) to RM179 million for the fourth quarter ended March 31, 2024 (4QFY2024), according to AmInvestment Bank Research.</p>


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<p>Asian stocks sank and the dollar climbed to more than five-month highs on Tuesday as stronger-than-expected US retail sales for March further reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year.</p>


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<p>The automotive industry is not exactly the place one would want to be in the next few years.</p>

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<p>China said it believed Iran could "handle the situation well and spare the region further turmoil" while safeguarding its sovereignty and dignity, referring to an attack on Iran's embassy in Syria and its retaliatory strike over the weekend.</p>


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<p>Carlo Rino Group Bhd has filed for an initial public offering (IPO) that would raise more funds for the apparel company as part of its listing transfer to the ACE Market from the LEAP Market.</p>


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<p>The Ministry of Transport clarified on Tuesday that the higher contract value of RM190.01 million awarded to HeiTech Padu Bhd for Road Transport Department (JPJ) services was only due to a longer extended contract duration.</p>


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<p>Bursa Malaysia ended the morning session lower on Tuesday, in tandem with the weaker regional performance due to a broad sell-off on Wall Street overnight, said an analyst. &nbsp;</p>


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<p>KTI Landmark Bhd (KTI) has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Bhd.</p>

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<p>RHB Retail Research said Cosmos Technology International Bhd has confirmed a bullish setup after breaking past a key resistance on strong volume.</p>


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<p>Analysts are positive on Malaysia’s pilot green power exports to Singapore using existing infrastructure in both countries, following establishment of the platform enabling cross-border trading of green electricity, the Energy Exchange Malaysia (Enegem).</p>


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<p>Former prime minister Tan Sri Muhyiddin Yassin has requested for a bench of five Court of Appeal (COA) judges to hear his review against the court’s own decision to reinstate abuse of power charges involving RM232.5 million against him.</p>


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<p>RHB Retail Research said Notion VTec Bhd is looking to extend upside movement after staging a bullish breakout.</p>


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<p>The Ministry of Transport (MOT) has not been informed of any corporate deal involving Malaysia's biggest port operator MMC Port Holdings Sdn Bhd, said its Minister Anthony Loke Siew Fook.</p>


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<p>Shares of EP Manufacturing Bhd (EPMB) climbed on Tuesday and may be set for its best day in ten months after the auto parts maker signed a 10-year vehicle assembly deal with a Chinese carmaker.</p>


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<p>There is "no urgency" to cut US interest rates, Mary Daly, the president of the San Francisco Federal Reserve Bank, said on Monday, with the economy and labour market strong, and inflation still above the Fed's target of 2%.</p>
