<div>This article first appeared in <em>The Edge Financial Daily</em>, on October 13, 2016.<br />
<br />
&nbsp;</div>

<div class=newsTextDataWrapInner><p><strong>Hibiscus Petroleum Bhd (+ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>SHARES in Hibiscus Petroleum Bhd (fundamental: 0.8/3, valuation: 0.9/3) triggered our momentum algorithm as the company emerged as the most active counter in the market yesterday, with 138.8 million shares traded. In comparison, its 200-day average volume was only about 5.98 million shares.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Its share price gained 10.42% or 2.5 sen to close at 26.5 sen. It earlier hit an intraday high of 28 sen.</p></div>

<div class=newsTextDataWrapInner><p>The interest in Hibiscus was in line with an increase in oil prices. Brent crude oil was trading at US$52.75 (RM220.50) per barrel, an increase of 0.65%, while the US West Texas Intermediate crude oil rose 0.37% to US$50.98 per barrel.</p></div>

<div class=newsTextDataWrapInner><p>Year to date, Hibiscus has gained by 15.22%, but has fallen significantly compared with a year ago with a decline of 59.54%. In the last one year, shares in the oil and gas company have fallen from as high as 68 sen to as low as 13 sen.</p></div>


This article first appeared in The Edge Financial Daily, on October 13, 2016.

 

Hibiscus Petroleum Bhd (+ve)

SHARES in Hibiscus Petroleum Bhd (fundamental: 0.8/3, valuation: 0.9/3) triggered our momentum algorithm as the compan...

Stock With Momentum: Hibiscus Petroleum

I-Bhd, which develops properties and operates theme parks, said on Wednesday it is planning to issue preference shares to its major shareholder in a deal that could raise up to RM100 million.

I-Bhd to raise RM100m from preference share issue

The Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.

MACC officer did not ask Najib if he instructed controversial transfer of US$700m to Good Star

Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.

Asian shares jump on tech boost; fragile yen on intervention watch

THE Sarawak government’s decision to put all new hires on the contribution-based position (Jawatan ­Berasaskan Caruman [JBC]) scheme is seen as the initial step towards much-needed reforms for the state’s public service.

In March, Sarawak state secretary Datuk Mohamad Abu Bakar Marzuki ...

Reforming Sarawak’s public service

Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.

Telco shares lift Bursa higher at midday

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.

AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

For TikTok, the clock has started running in its existential fight to avoid a US ban.

US ban on TikTok looms with Biden poised to start 270-day countdown

It has been a volatile and strange month in the markets. Gold prices crossed an all-time high of over US$2,400 per ounce after Iran launched 350 drones and missiles against Israel, having just crossed US$2,000 earlier in the month. The US 10-year Treasuries yield went back up to 4.6% per annum, w...

Condivergence: Heed Dimon’s view on how financial regulators must support growth

The original Canary Wharf estate has become a poster child for the problems facing office landlords. Ageing buildings, the new demands of flexible work and a banking industry upended by the global financial crisis have led to a steady drumbeat of shrinking demand and departing tenants over the past months.

Canary Wharf landlords face mixed challenges

BENGALURU (April 24): Bharti Airtel is not in talks to buy UK-based Vodafone Group's 21.05% stake in Indus Towers, the Indian telecom operator said on Wednesday, after a newspaper reported that it was eyeing the stake.

The Economic Times said in a report that if the deal went through, V...

India's Airtel says not in talks to buy Vodafone UK's Indus Towers stake

<p>The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.</p>




Najib's 1MDB-Tanore trial live reporting (April 24)

<p>With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?</p>


What’s next for 5G deployment in Malaysia?

<p>Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.</p>

<p>The IPO, priced at 24 sen apiece, involves a public issuance of 102 million new shares as well as an offer for sale of 33 million existing shares, according to its prospectus. All in, the listing offers investors a 30% stake in the Johor-based wholesalers and vegetables distributor.</p>


Farm Price starts taking orders for ACE Market IPO to raise up to RM24.48 mil

<p>E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.</p>


MyEG inks partnership to launch Hong Kong virtual assets

<p>Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.</p>


NationGate may extend upward trajectory, says Rakuten Trade 

<p>Analysts predict a decline in earnings for Malaysian automotive companies in 2024, attributed to lower sales volumes and higher operating costs, coupled with the emergence of several Chinese original equipment manufacturers (OEMs) offering attractive pricing.</p>


M'sian automakers expected to feel pinch from lower sales, higher costs, rise of Chinese OEMs

<p>Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.</p>


DXN climbs over one-month high, analysts see positive outlook

<p>Capital A Bhd’s board of directors has decided to extend Tan Sri Tony Fernandes'&nbsp;tenure as the chief executive officer for another five years, and as a strategic adviser to the airlines business, which is poised to be merged into AirAsia X Bhd.</p>


Fernandes to be CEO of Capital A for another five years

<p>Tesla Inc is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.</p>


Tesla to accelerate launch of cheaper cars after sales miss

<p>Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.</p>


<p>Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.</p>


Bursa opens higher, tracking overnight Wall Street

<p>Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;</p>


<p>US stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.</p>


Wall Street closes higher as investors digest earnings, megacap outlook

<p>Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.</p>


Haily shares near all-time high after securing RM109.5m housing job

<p>One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.</p>


Malaysia to start using QR code at checkpoints with Singapore, report says

<p>Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.</p>


Meta Bright lands solar supply deal after forming JV company with Doople

<p>RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.</p>


Censof observing technical breakout, says RHB Retail Research 

<p>The ringgit rebounded in early trade on Wednesday as the US dollar retreated after S&amp;P Purchasing Managers' Index (PMI) data disappoint.</p>


Ringgit rebounds on softer US dollar after PMI data

<p>This was supposed to be the year that Vietnam reaped the benefits from one of its largest natural gas discoveries.</p>


Xi’s armada is winning the battle for energy in South China Sea

<p>Sunway Putra Hotel Kuala Lumpur marked the commencement of its lobby area refurbishment with a ground-breaking ceremony.</p>
