<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on June 14, 2017</span></p></div><div class=newsTextDataWrapInner><p><strong>Eco World Development Group Bhd (-ve)</strong><br />
SHARES in Eco World Development Group Bhd (fundamental: 0.8/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the third time this year. The property developer’s shares closed one sen or 0.63% higher at RM1.60 yesterday, with 9.47 million shares changing hands, giving it a market capitalisation of RM4.7 billion.</p></div>

<div class=newsTextDataWrapInner><p>Last month, the group handed over its first landed homes of its Eco Majestic development, known as the Cradleton precinct which comprises 612 units of colonial-style double-storey houses. The Cradleton precinct is its first completed stratified landed development in the Klang Valley.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Eco Majestic is also showcasing its newly completed show unit for the Harmoni Apartments and the show houses for its latest collection, the Stoneridge precinct, comprising cluster homes, semi-detached units and bungalows, which has been recently opened for preview.</p></div>

<div class=newsTextDataWrapInner><p>The stock is trading at 1.18 times its book value and has a trailing 12-month price-earnings ratio of 20.83 times.</p></div>


Eco World Development Group Bhd (-ve)
SHARES in Eco World Development Group Bhd (fundamental: 0.8/3, valuation: 1.1/3) triggered our momentum algorithm yesterday for the third time this year. The property developer’s shares closed one sen or 0.63% higher at RM1.60 yesterda...

Stock With Momentum: Eco World Development Group

Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.

Kenanga sees Main-Market bound Keyfield International cashing in on OSV boom, sets target price at RM1.90

The Federal Court of Australia has fined Macquarie Bank A$10 million (RM30.6 million) for its lack of controls to detect and prevent unauthorised fee transactions carried out by third parties on customer accounts, the securities regulator said on Friday.

Australia fines Macquarie Bank US$6.4m for not preventing unlawful third-party transactions

Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.

Trading in Sapura Energy suspended pending announcement 

Maintaining Malaysia’s current account surplus and foreign investments over the long term hinges on the country’s ability to upgrade its goods and services production, said Malaysian Rating Corp Bhd (MARC).

Making valuable exports key to sustaining Malaysia’s current account surplus, foreign investments — MARC

Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.

Bursa Malaysia 1Q earnings likely up 34% y-o-y, HLIB projects

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The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

KLCI up 0.43% with focus on energy, plantation, financial stocks

India began voting on Friday in the world's largest election as Prime Minister Narendra Modi seeks a historic third term in office on the back of growth, welfare, his personal popularity and Hindu nationalism.

India begins voting in gigantic election, Modi seeking historic third term

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.

Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

<p>Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.</p>


Israel attacks Iran, Reuters reports, as drones spotted over Isfahan 

<p>Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>


Awantec shares plunge 53%, intraday short selling suspended 

<p>PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.</p>


PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


 Sarawak aiming to transform itself into a centre for clean hydrogen energy

<p>Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.</p>


Stocks sink, oil jumps after Israeli attack on Iran

<p>Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.</p>


Apple pulls WhatsApp, Threads from China app store after Beijing order

<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


<p>The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.</p>


US stops UN from recognising a Palestinian state through membership

<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


<p>Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.</p>


<p>The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.</p>


US bank reserve balances see largest drop since 2022 tax season

<p>Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.</p>


Malaysia’s March exports down 0.8%, imports surge 12.5%

<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

<p>Chinese government-linked hackers have burrowed into US critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI director Christopher Wray said on Thursday.</p>


FBI says Chinese hackers preparing to attack US infrastructure

<p>RHB Retail Research said Muhibbah Engineering (M) Bhd may be headed for an uptrend after rebounding strongly from a recent pullback and pushing past the 21-day simple moving average line.</p>


Muhibbah Engineering may be headed for uptrend, says RHB Retail Research 

<p>Bursa Malaysia started the morning trading in positive territory, attributed to broad-based buying in response to a regional recovery, with investors seen focusing on counters with high cash reserves.</p>


Bursa opens higher on buying sentiment

<p>Malaysia Airlines has commenced the gradual reinstatement of flights to and from Sabah, Sarawak and Labuan since the evening of April 18, in response to prevailing weather conditions.</p>


Malaysia Airlines begins gradual reinstatement of flights to and from Borneo states

<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>
