<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on May 15, 2017</span></p></div><div class=newsTextDataWrapInner><p><strong>Luxchem Corp Bhd (+ve)</strong><br />
SHARES in Luxchem Corp Bhd (fundamental: 2.1/3, valuation: 2.4/3), which is engaged in marketing and distribution of industrial chemicals and materials, triggered our proprietary momentum algorithm last Friday for the first time this month.</p></div>

<div class=newsTextDataWrapInner><p>The stock closed 14 sen or 8.48% higher at RM1.79, with 2.2 million shares changed hands, exceeding its 200-day average volume of 162,131.5 shares.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In the first quarter ended March 31, 2017 (1QFY17), Luxchem’s net profit almost doubled to RM13.61 million from RM7 million a year earlier.</p></div>

<div class=newsTextDataWrapInner><p>The group attributed the improved earnings mainly to higher contribution from the trading and manufacturing segments.</p></div>

<div class=newsTextDataWrapInner><p>Revenue grew 36.4% to RM218.13 million from RM159.97 million in 1QFY16, mainly on increased contribution from the trading division. Luxchem did not propose any dividend for the quarter under review.</p></div>

<div class=newsTextDataWrapInner><p>At the current share price, Luxchem is trading at 2.01 times its book value.</p></div>


Luxchem Corp Bhd (+ve)
SHARES in Luxchem Corp Bhd (fundamental: 2.1/3, valuation: 2.4/3), which is engaged in marketing and distribution of industrial chemicals and materials, triggered our proprietary momentum algorithm last Friday for the first time this month.

Stock With Momentum: Luxchem Corp Bhd

Prime Minister Datuk Seri Anwar Ibrahim on Thursday gave assurance that the revised Public Service Remuneration System (SSPA), which will be announced soon, will be the best ever introduced in the country.

Revised SSPA will be the best ever introduced — Anwar

Amazon.com's cloud-computing arm said it would invest US$11 billion in Indiana to build data centers, marking the state's largest capital investment, and promising at least 1,000 jobs.

The announcement by Amazon Web Services on Thursday builds on the online retail giant's already strong presence in the state, where it employs 26,000 full- and part-time staff.

Amazon to invest US$11 billion in Indiana to build data centers

Pavilion Real Estate Investment Trust (PavREIT) reported that its first quarter net property income (NPI) jumped 33.2% year-on-year, thanks largely to contribution from its newly acquired mall, Pavilion Bukit Jalil. The increase was also attributed to higher occupancy rates and higher revenue rent from its other retail malls.

PavREIT’s 1Q NPI jumps 33%, pays 2.48 sen distribution per unit

The number of Americans filing new claims for unemployment benefits unexpectedly fell last week, pointing to still tight labour market conditions.

US weekly jobless claims unexpectedly fall

US economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.

US economic growth slows more than expected in first quarter

The World Bank said on Thursday that Malaysia's education system still has areas for improvement, particularly in addressing learning challenges faced by children from disadvantaged backgrounds.

According to its 29th Malaysia Economic Monitor report for April 2024 entitled 'Bending Bamboo Shoots: Strengthening Foundational Skills' students, especially those in early childhood education, often lack school readiness skills.

World Bank: Imperative for Malaysia to narrow early childhood educational gaps to improve children's school readiness

J Sainsbury plc expects profits to rise this year on the back of strong food sales, as the company prioritises groceries above clothing and general merchandise.

Sainsbury’s sees retail profit above £1 bil this year

IndiGo, India's top airline by market share, placed an order with Airbus for 30 A350-900 jets, it said on Thursday, its first-ever order for widebody aircraft.

Indian carriers are trying to keep pace with the world's fastest-growing aviation market, where demand for air travel has surged post-pandemic, even as plane manufacturers struggled to meet output goals.

India's IndiGo places first-ever widebody order for 30 Airbus A350 jets

Thailand will name former corporate energy executive and central bank board member Pichai Chunhavajira as its new finance minister, taking over the role from Prime Minister Srettha Thavisin, two government sources told Reuters on Thursday.

Thailand to appoint former energy executive Pichai finance minister — Reuters

MOSCOW (April 25): The head of the Belarusian security service said on Thursday it had thwarted an attack on the capital Minsk by drones launched from Lithuania, Russian state news agencies said.

There was no immediate comment from NATO-member Lithuania.

"The State Security Co...

Belarus says it thwarted attack on capital by drones launched from Lithuania

<p>Malaysia is in early discussions with tycoons on opening a casino in Forest City, people familiar with the matter said, in a bid to revive the beleaguered US$100 billion (RM478.35 billion) property project that counts the country’s monarch as one of its shareholders.</p>


Malaysia is said to mull casino resort to revive Forest City

<p>KUALA LUMPUR (April 25): Members of the the Employees Provident Fund (EPF) who are below 55 years old will have an Account 3 starting from May 11, from which they can make withdrawals at any time for any purpose —&nbsp;subject to a minimum withdrawal amount of RM50. This is on top of the two existing accounts they currently have for retirement savings.&nbsp;</p>


EPF members under age 55 will have Account 3 starting May 11

<p>Shares of YTL Corp Bhd rallied to a new all-time high on Thursday after Hong Leong Investment Bank (HLIB) flagged more upside even after a 42% year-to-date surge.</p>


YTL Corp rallies to new all-time high after HLIB flags more upside

<p>Digital Nasional Bhd (DNB), the state-owned company in charge of the 5G network infrastructure rollout, on Thursday named five new board members, comprising senior leaders from the telecom and technology industries.</p>


Digital Nasional names senior telco and tech leaders as new directors

<p>A made-in-China electric vehicle (EV) will hit US dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about US$8,000 (RM38,228) less.</p>


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<p>Sports retailer Al-Ikhsan Sports Sdn Bhd, in which state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) owns a 35% stake, has appointed Datuk Hishammudin Hasan as its new chief executive officer effective April 17.</p>


Ekuinas-backed Al-Ikhsan Sports names former 7-Eleven head as CEO

<p>Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.</p>


Axiata, Sinar Mas move closer to US$3.5b telco merger, Bloomberg reports

<p>Prime Minister Datuk Seri Anwar Ibrahim on Thursday denied claims that the government will issue a licence for the operation of a casino in Forest City, Johor.</p>


PM denies claims that govt issuing casino licence for Forest City

<p>KUALA LUMPUR (April 25): Mega First Corp Bhd shares have likely peaked following a recent rally to new all-time highs, and investors should stop buying the stock now, Maybank Investment Bank (Maybank IB) said and downgraded the stock to ‘hold’.</p>

<p>Maybank IB is the first from a total of fi...

Mega First shares likely peaked; Maybank IB the first to downgrade stock

<p>Housing and Local Government Minister Nga Kor Ming’s press secretary Pang Sock Tao was announced as the unity government’s candidate for the Kuala Kubu Baharu by-election on May 11.</p>


Nga's press secretary Pang picked as unity govt's candidate for Kuala Kubu Baharu by-election

<p>JOHOR BAHRU (April 25): The Johor branch of the Malaysian Quarantine and Inspection Services Department (Maqis) found parasitic worms Anisakis sp in samples of sardine cans from China that were brought in through the Sultan Iskandar Building (BSI) here, earlier this month.</p>


Parasitic worms Anisakis sp found in canned sardines from China — Johor dept

<p>IOI Properties Group broke ground on Thursday for Senna Puteri, its latest township development located in Sepang, Selangor. The developer is looking to launch 386 units of townhouses in its first phase before the end of the second quarter.</p>

<p>Spanning 117 acres in southern Klang Valley, the 12-phase Senna Puteri will be developed over the next 10 years, offering residential, commercial, recreational areas, green spaces, community hall, surau and more. It has a gross development value (GDV) of over RM3 billion.</p>


IOI Properties breaks ground for 117-acre Senna Puteri in Sepang

<p>KUALA LUMPUR (April 25): Agricore CS Holdings Bhd, a food ingredients supplier, has obtained approval from Bursa Malaysia Securities Bhd to list on its ACE Market.</p>


Agricore CS Holdings gets Bursa Malaysia nod to list on ACE Market

<p>Malaysia’s consumer inflation came in lower than expected in March from a year earlier as prices of healthcare and food rose at a slower pace, official data on Thursday showed.</p>

<p>The Consumer Price Index — Malaysia’s main gauge of inflation — rose 1.8% year-on-year, according to the Department of Statistics. The headline figure was a tad lower than the median 2% rise predicted in a Bloomberg survey of economists, and unchanged versus February’s 1.8% gain.</p>


Malaysia’s inflation steady at 1.8% in March

<p>The Malaysian Anti-Corruption Commission (MACC) has confirmed that former prime minister Tun Dr Mahathir Mohamad is among individuals under investigation by the commission.</p>


Azam Baki confirms Dr M among individuals under MACC probe

<p>AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business,&nbsp;has announced the mechanics of its plan via a bourse&nbsp;filing on Thursday.</p>


AirAsia X to buy Capital A's aviation business for RM6.8b via share and debt deal 

<p>The Court of Appeal has allowed a bid by Tan Sri Muhyiddin Yassin to have a bench of five judges to hear his review application to restore his acquittal by the High Court of four of his abuse of power charges last year.</p>

<p>His lawyer Chetan Jethwani said that Court of Appeal deputy registrar Muhammad Noor Firdaus Rosli informed the parties of the matter on Thursday morning during case management.</p>


Appellate court grants Muhyiddin five-member bench for review of charges

<p>KUALA LUMPUR (April 25): Former prime minister Datuk Seri Najib Razak had never instructed 1Malaysia Development Bhd’s (1MDB) management to transfer a total US$1.03 billion to Good Star Ltd, a company linked to the fugitive Low Taek Jho (Jho Low), the court heard on Thursday.</p>


Najib never instructed 1MDB management to transfer monies to Good Star — witness

<p>Investors are looking for the next policy domino to fall in Asia amid an escalating campaign against a resurgent dollar, after Indonesia used a surprise interest rate hike to defend the rupiah.</p>


Asia’s hawks get put on alert after Indonesia’s shock rate hike

<p>Luxchem Corp Bhd’s net profit for the first quarter ended March 31, 2024 (1QFY2024) surged over 54% to RM11.56 million or 1.08 sen per share from RM7.5 million or 0.7 sen per share a year earlier on the back of stronger earnings from both its trading and manufacturing segments.</p>

<p>The industrial chemical and material group’s revenue rose 19.8% to RM183.15 million versus RM152.83 million a year ago as driven by its trading and manufacturing segments, according to a bourse filing on Thursday. &nbsp;</p>
