<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on August 22, 2019</span></p></div><div class=newsTextDataWrapInner><p><strong>MBM Resources Bhd (-ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>TRADING of shares in MBM Resources Bhd (fundamental: 1.4/3; valuation: 2/3), which triggered our proprietary momentum algorithm yesterday for the second time this month, closed up 33 sen or 8.99% at RM4.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>A total of 10.76 million shares were done, versus its 200-day average trading volume of 548,884 shares.</p></div>

<div class=newsTextDataWrapInner><p>MBM Resources mainly distributes and retails major international vehicle brands of vehicles in Malaysia, including Daihatsu, Perodua, Mitsubishi, Volkswagen, Volvo, and Hino.</p></div>

<div class=newsTextDataWrapInner><p>On Tuesday, MBM Resources reported a net profit of RM74.04 million in the second quarter ended June 30, 2019, more than doubled the RM34.55 million posted a year ago, mainly lifted by a one-off RM24.8 million gain on disposals.</p></div>

<div class=newsTextDataWrapInner><p>It declared a first interim dividend of six sen per share, payable on Sept 19.</p></div>

<div class=newsTextDataWrapInner><p>As at yesterday, MBM Resources was trading at 0.94 times its net book value.</p></div>


MBM Resources Bhd (-ve)

TRADING of shares in MBM Resources Bhd (fundamental: 1.4/3; valuation: 2/3), which triggered our proprietary momentum algorithm yesterday for the second time this month, closed up 33 sen or 8.99% at RM4.

A total of 10.76 million shares ...

Stock With Momentum: MBM Resources

Bursa Malaysia closed at a two-year high on Wednesday with the key index rising 0.63%, driven by a positive outlook on the local bourse and amid an upbeat performance by regional peers.

Bursa races to two-year high as investors turn bullish

The US Department of Justice (DOJ) recommended a 36-month prison sentence for Changpeng Zhao, the former chief executive officer of Binance, the world’s largest crypto exchange.

The sentence “will not just send a message to Zhao but also to the world”, the DOJ wrote in a court filing on Tuesday, adding the price for violating US law “must be significant to effectively punish Zhao for his criminal acts and to deter others”.

US seeks three-year prison sentence for ex-Binance CEO Zhao

Mobvoi Inc, a Chinese artificial intelligence (AI) developer backed by Alphabet Inc’s Google, finished its first day of trading lower in Hong Kong, marking the third stock debut to flop in the city this week.

Google-backed AI firm Mobvoi is Hong Kong’s third stock debut flop this week

KUALA LUMPUR (April 24): A meeting with 70 financial fund investors and corporate members at the recently concluded joint investors meeting in London has touched on the Madani government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MOF).

MOF: Govt to establish high-level facilitation platform to oversee potential, approved strategic investments

Meta Bright Group Bhd has secured a new equipment leasing contract from Australian copper mining company Mt Cuthbert Resources Pty Ltd (MCR) for its mining operations.

Meta Bright bags equipment leasing contract from Australian copper mining firm

OYO plans to add 100 self-operated hotels in Malaysia in 2024 and will be looking to secure annual to long-term management contracts on a revenue-sharing basis for these properties. This is part of OYO's programme aimed at fostering economic growth in communities via partnerships.

OYO plans to launch 100 self-operated hotels in Malaysia for 2024, with the first in Kota Damansara

Zeekr, a luxury electric vehicle (EV) brand under the Geely group, is mulling about entering Malaysia's automotive market with its newly developed right-hand drive (RHD) vehicles.

Zeekr mulling entry into Malaysian market 

SK Hynix Inc plans to spend about US$14.6 billion (RM69.73 billion) building a new memory chip complex in South Korea, preparing to meet rapidly growing demand for semiconductors employed in artificial intelligence (AI) development.

SK Hynix plans US$15 bil chip expansion to meet AI demand

KUALA LUMPUR (April 24): Petronas Chemicals Group Bhd is focused on advancing its growth initiatives and strengthening its operational performance, despite the expectation that 2024 will continue to be a challenging year.

Petronas Chemicals to focus on advancing growth initiatives, strengthening operational performance

The potential imposition of plain packaging for cigarette and vape products, together with a ban on the display of such products in stores, will incur a "huge financial burden" on privately owned sundry shops, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).

Potential ban on cigarette, vape product display will burden retailers, on top of proposed plain packaging — sundry goods merchants

<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>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>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>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.</p>


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

<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>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>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>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>


Telco shares lift Bursa higher at midday

<p>Carlsberg Brewery Malaysia Bhd, the locally-listed unit of the Danish brewer, confirmed the price increases for its beer products starting this month.</p>


Carlsberg Malaysia raises prices of beers to preserve margin

<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>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>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>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.</p>


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

<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>Gold’s record-setting rally this year has puzzled market watchers, as bullion has roared higher, despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.</p>


Gold’s record-setting rally may have its roots in Chinese frenzy

<p>Several important developments related to Digital Nasional Bhd (DNB), including the appointment of its board members and the direction of the agency, will be announced on Thursday, said Communications Minister Fahmi Fadzil.</p>


Digital minister to unveil DNB board, announce new developments tomorrow — Fahmi

<p>KUALA LUMPUR (April 24): Dataprep Holdings Bhd said on Wednesday that Tan Sri Muhammad Ikmal Opat Abdullah has ceased to be the substantial shareholder in the IT products and services company.</p>


Muhammad Ikmal of Widad ceases to be Dataprep’s substantial shareholder as shares sale continues

<p>JASMINE Loo was the third individual wanted by the authorities, on the Interpol Red Notice list, &nbsp;to return to Malaysia.</p>

<p>More than 10 years on from the first signs of trouble at 1Malaysia Development Bhd (1MDB), there are still a number of individuals who remain on the run, sought ...

Most yet to return to face the music

<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>The son of a menteri besar is among six individuals remanded by the Malaysian Anti-Corruption Commission (MACC) here to assist in investigations regarding a case of submitting false documents and claims involving RM600,000 over the past two years.</p>
