<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on September 3, 2018</span></p></div><div class=newsTextDataWrapInner><p><strong>Elsoft Research Bhd (-ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>TRADING of shares in Elsoft Research (fundamental: 3/3, valuation: 2.10/3) triggered our momentum algorithm last Thursday for the sixth time this year. The group saw 1,555,300 shares traded, compared with its 200-day average of 217,610.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Elsoft Research reached its all-time high of RM3.39 on Aug 29 after announcing a one-for-five bonus issue and two-for-one share split.</p></div>

<div class=newsTextDataWrapInner><p>The counter was the third largest gainer on Bursa Malaysia. Elsoft announced the bonus issue and share split on Aug 28.</p></div>

<div class=newsTextDataWrapInner><p>It said the bonus issue of up to 56.4 million shares was to reward shareholders and would be capitalised from the share premium account.</p></div>

<div class=newsTextDataWrapInner><p>The share split, meanwhile, is intended to enhance the marketability and trading liquidity of its shares.</p></div>

<div class=newsTextDataWrapInner><p>The stock rose one sen or 0.3% last Thursday, to close at RM3.38, with a market capitalisation of RM935.91 million.</p></div>

<div class=newsTextDataWrapInner><p>Elsoft Research was last traded at 8.45 times its book value.</p></div>


Elsoft Research Bhd (-ve)

TRADING of shares in Elsoft Research (fundamental: 3/3, valuation: 2.10/3) triggered our momentum algorithm last Thursday for the sixth time this year. The group saw 1,555,300 shares traded, compared with its 200-day average of 217,610.

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Stock With Momentum: Elsoft Research

Economists at Citigroup Inc are going out on a limb by wagering that virtually everyone on Wall Street is wrong about the US Federal Reserve (Fed).

After three straight months of slightly faster-than-expected inflation readings, rivals at Bank of America Corp, Goldman Sachs Group, Morgan Stanley, and other banks have dialled back their forecasts for interest-rate cuts this year. Chair Jerome Powell lent support to those moves on Tuesday, when he signalled that policymakers are in no hurry to ease policy.

Citi says Wall Street wrong to slash Fed rate-cut bets

Elon Musk said some of the severance packages sent to former Tesla Inc employees as part of its biggest-ever workforce reduction were too low.

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Perbadanan Bekalan Air Pulau Pinang (PBAPP) will drawdown the strategic drought reserve of the Expanded Mengkuang Dam (EMD) if it cannot abstract sufficient raw water from Sungai Muda.

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Nokia Oyj reported higher first-quarter profit than analysts expected and the telecom network equipment maker said it expects its struggling network infrastructure business to return to sales growth for the full year.

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Oil prices were little changed after a 3% drop in the previous session as the market remains concerned about demand this year and on signs that a wider conflict in the key Middle East producing region could be avoided.

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The ongoing Shariah High Court dispute, initiated by Tan Sri Jamaludin Jarjis’ widow Puan Sri Dr Kalsom Ismail for her joint matrimonial asset claim to the late former minister’s RM2.1 billion estate, will go to trial in July before a new judge.

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RHB Bank, Malaysia’s fourth-largest bank by assets, said on Thursday it views sustainable financing as presenting more opportunities than challenges, rather than affecting its overall profit from financing activities.

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theedgemarkets.com highlighted seven stocks with momentum at Bursa Malaysia's noon break on Thursday. Four stocks displayed negative momentum, while three stocks displayed positive momentum.

Crescendo, Inta Bina, PIE Industrial, Unitrade Industries, Cuscapi, HB Global, Mclean Technologies

The Malaysian Bar's challenge against Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi’s discharge not amounting to acquittal (DNAA) in his criminal trial is not academic.

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Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.

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<p>Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.</p>


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<p>The Malaysian aviation industry may be badly impacted on passenger traffic and spikes in jet fuel prices if a full-blown war results from escalating geopolitical tensions in the Middle East, according to Maybank Investment Bank Research (Maybank IB).</p>


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<p>Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.</p>


Google fires workers protesting US$1.2b Israeli contract

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<p>Several Malaysia Airlines and AirAsia flights between Sabah, Sarawak, and Kuala Lumpur International Airport (KLIA) were cancelled on Thursday due to volcanic eruption at Mount Ruang, Indonesia.</p>


Malaysia Airlines, AirAsia cancel flights to Sabah, Sarawak after volcano eruption in Indonesia

<p>Apple Inc chief executive officer Tim Cook will meet Singapore’s leader at the tail end of his most extensive Southeast Asia tour in years, searching for new growth markets and manufacturing locations to offset headwinds in China.</p>


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<p>Gold prices may correct amid potential delay in the anticipated rate cuts by the US Federal Reserve, Philip Capital warned on Thursday and advised investors to stop buying Malaysia’s sole gold exchange-traded fund (ETF).</p>


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<p>Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.</p>


<p>President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.</p>


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Analysts remain sanguine on IGB REIT’s prospects going forward

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<p>Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook.</p>


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<p>Alphabet-owned Google&nbsp;is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.</p>


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<p>Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.&nbsp;</p>


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<p>The stock market saw its longest losing streak since January as a handful of big techs sold off — despite a slide in bond yields.</p>


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<p>Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.</p>


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<p>KUALA LUMPUR (April 18): Food and supplement company OB Holdings Bhd said on Thursday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, to raise funds for expansion.</p>


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<p>The concessionaire of the Petaling Jaya Dispersal Link (PJD Link) highway believes the project remains viable and will continue to pursue its realisation.&nbsp;</p>
