<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 2): RHB Investment Bank Bhd said today it had reduced its target price (TP) for Datasonic Group Bhd shares to 62 sen from 98 sen previously following Datasonic's unsuccessful bid for Malaysia’s National Integrated Immigration System (NIISe) project.</p></div>

<div class=newsTextDataWrapInner><p>"Datasonic’s unsuccessful bid for the NIISe has prompted us to remove the 36 sen per share hypothetical value from our valuation,” RHB analyst Lee Meng Horng wrote in a note today.</p></div>

<div class=newsTextDataWrapInner><p>Lee said RHB, which maintained its "buy" call for Datasonic shares, however kept its Datasonic earnings forecast unchanged, as RHB did not impute any potential contribution from the project.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>He said RHB’s new Datasonic TP at 62 sen is based on 25 times estimated price-earnings ratio for financial year ending March 31, 2022.</p></div>

<div class=newsTextDataWrapInner><p>"We think a strong earnings recovery should kick in once the borders are reopened, as passports have expiry dates, and backed by its outstanding orderbook of &gt;RM500 million.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>"Further contract wins could provide upsides to our forecast and TP,” he said.</p></div>

<div class=newsTextDataWrapInner><p>On Bursa Malaysia today, Datasonic’s share price rose one sen or 2.08% at 11:56am to 49 sen, which brings the company's market capitalisation to about RM1.32 billion.</p></div>

<div class=newsTextDataWrapInner><p>Datasonic’s latest-reported number of issued shares stood at 2.7 billion.</p></div>


RHB Investment Bank Bhd said today it had reduced its target price (TP) for Datasonic Group Bhd shares to 62 sen from 98 sen previously following Datasonic's unsuccessful bid for Malaysia’s National Integrated Immigration System (NIISe) project.

RHB cuts Datasonic target price on unsuccessful bid for immigration system contract

Companies Commission of Malaysia issues directive to Ewog’s trustee to freeze trust account funds

BEIRUT (April 28): France's foreign minister will push proposals to prevent further escalation and a potential war between Israel and Iran-backed Hezbollah during a visit to Lebanon on Sunday, as Paris seeks to refine a roadmap that both sides could accept to ease tensions.

France's foreign minister looks to prevent Israel-Hezbollah conflict escalation in Lebanon visit

KUALA LUMPUR (April 28): Malaysia is on a mission to explore various economic opportunities and attract new investments at the World Economic Forum (WEF) Special Meeting in Riyadh, Saudi Arabia, which will last two days starting Sunday.

Anwar on a mission to explore economic opportunities, attract new investments at WEF

RIYADH (April 28): Malaysian Prime Minister Datuk Seri Anwar Ibrahim arrived here on Saturday (April 27) night for a three-day working visit to participate in the World Economic Forum’s (WEF) Special Meeting.

Anwar arrives in Riyadh for World Economic Forum Special Meeting

HULU SELANGOR (April 27): The Selangor government, via several subsidiaries, including the Selangor Menteri Besar (Incorporation) or MBI, has signed memoranda of understanding (MOUs) with several technology companies in Germany, in an effort to further develop the state.

Selangor signs MOU with tech firms in Germany

(April 28): A higher-for-longer interest rate environment is burnishing the credentials of cheap Chinese stocks and driving value investment strategies in Asia.

Fed repricing gives rise to new equities playbook in Asia

Jazz luminary Tay Cher Siang and songstress Janet Lee share their journey through the vibrant world of jazz, each shaped by unique encounters and cultural influences. For Tay, a chance encounter with Astrud Gilberto’s Corcovado sparked a lifelong passion for jazz, rooted in Malaysia’s rich tapestry of sounds and traditions. His eclectic approach to music, termed “cham cham jazz”, celebrates the country’s multicultural essence, blending diverse elements into a harmonious fusion.

Jazz is their jam

Boustead Properties Bhd will unveil its latest transit-oriented development in Mutiara Damansara in the third quarter of 2024 (3Q2024). A redevelopment project of the eCurve mall, which began operating in 2006 and was closed in 2021, The Lines will be part of the developer’s efforts to elevate the neighbourhood through the Mutiara Damansara revitalisation plan. The overall plan will take about 10 to 15 years to complete with an estimated gross development value of RM8.9 billion.

Reimagining Mutiara Damansara

Russia and Ukraine exchanged fire on energy facilities overnight, with an oil refinery damaged in Russia’s Krasnodar region, while Ukraine sustained a missile barrage on gas infrastructure and other targets.

Russia, Ukraine exchange strikes on refinery and gas targets

Deutsche Bank AG is putting aside as much as €1.3 billion (US$1.4 billion or RM6.6 billion) in legal provisions, warning this will hit profits.

The bank will book the potential payment in the current quarter, it said in a statement late on Friday. That will impact “second quarter and full-year profitability”, it said, while adding that the ultimate amount of the provisions is not clear yet.

Deutsche Bank earmarks US$1.4b provision in hit to profit

<p>Boustead Properties Bhd will unveil its latest transit-oriented development in Mutiara Damansara in the third quarter of 2024 (3Q2024). A redevelopment project of the eCurve mall, which began operating in 2006 and was closed in 2021, The Lines will be part of the developer’s efforts to elevate the neighbourhood through the Mutiara Damansara revitalisation plan. The overall plan will take about 10 to 15 years to complete with an estimated gross development value of RM8.9 billion.</p>


<p>(April 28):&nbsp;A higher-for-longer interest rate environment is burnishing the credentials of cheap Chinese stocks and driving value investment strategies in Asia.&nbsp;</p>


<p>RIYADH (April 28): Malaysian Prime Minister Datuk Seri Anwar Ibrahim arrived here on Saturday (April 27) night for a three-day working visit to participate in the World Economic Forum’s (WEF) Special Meeting.&nbsp;</p>


<p>HULU SELANGOR (April 27): The Selangor government, via several subsidiaries, including the Selangor Menteri Besar (Incorporation) or MBI, has signed memoranda of understanding (MOUs) with several technology companies in Germany, in an effort to further develop the state.</p>


<p>Jazz luminary Tay Cher Siang and songstress Janet Lee share their journey through the vibrant world of jazz, each shaped by unique encounters and cultural influences. For Tay, a chance encounter with Astrud Gilberto’s Corcovado sparked a lifelong passion for jazz, rooted in Malaysia’s rich tapestry of sounds and traditions. His eclectic approach to music, termed “cham cham jazz”, celebrates the country’s multicultural essence, blending diverse elements into a harmonious fusion.&nbsp;</p>


<p>KUALA LUMPUR (April 28): Malaysia is on a mission to explore various economic opportunities and attract new investments at the World Economic Forum (WEF) Special Meeting in Riyadh, Saudi Arabia, which will last two days starting Sunday.</p>


<p>Companies Commission of Malaysia issues directive to Ewog’s trustee to freeze trust account funds</p>


<p>BEIRUT (April 28): France's foreign minister will push proposals to prevent further escalation and a potential war between Israel and Iran-backed Hezbollah during a visit to Lebanon on Sunday, as Paris seeks to refine a roadmap that both sides could accept to ease tensions.</p>
