<div>This article first appeared in<em> The Edge Financial Daily,</em> on October 5, 2016.<br />
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<div class=newsTextDataWrapInner><p><strong>Pelikan International Corp Bhd (-ve)</strong>&nbsp;<img alt="Red Flag" src="http://edgemarkets.s3-ap-southeast-1.amazonaws.com/pictures/red_flag.png" style="height:15px; width:13px" /></p></div>

<div class=newsTextDataWrapInner><p>SHARES in Pelikan International Corp Bhd (fundamental: 0.15/3, valuation: 0.9/3) triggered our momentum algorithm as it surged by 9.88% to close at 94.5 sen with 5.16 million shares traded. In comparison, its 200-day average volume was only around 261,631.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Pelikan was red-flagged by our proprietary algorithm, suggesting that investors should exercise extra caution when trading in its shares.</p></div>

<div class=newsTextDataWrapInner><p>The group’s latest results in the second quarter of financial year ended June 30, 2016 (2QFY16) saw Pelikan return to the black with a net profit of RM19.37 million compared to a net loss of RM22.06 million in 2QFY15 as a result of higher sales.</p></div>

<div class=newsTextDataWrapInner><p>While the group has recorded an improvement in earnings, it is trading at a trailing price-to-earnings ratio of 76.2 times and a market capitalisation of RM515.5 million. Year to date, its share price has fallen by 9.13% but has gained about 5% compared to a year ago.</p></div>


This article first appeared in The Edge Financial Daily, on October 5, 2016.

 

Pelikan International Corp Bhd (-ve)

Stock With Momentum: Pelikan International Corp

The Farmers' Organisation Authority (LPP) will apply for an additional quota of local white rice if the existing allocation is insufficient to overcome the shortage in the market, said its director general  Datuk Azulita Salim.

Govt to get request for additional local white rice quota if needed

(April 18): The world’s largest crypto exchange Binance has converted the entire pool of assets held in an emergency fund for users into USDC, the stablecoin issued by US firm Circle Internet Financial.

Binance converts its billion-dollar ‘Safu’ emergency fund into stablecoin USDC

Bursa Malaysia continued its upbeat momentum to end higher for the second straight day on Thursday, due to an improvement in sentiment and a resurgence in bargain-hunting following the recent downturn, said an analyst.

Bursa closes higher on improved sentiment, bargain hunting

Perikatan Nasional (PN) has welcomed the government's decision to allocate funds to elected representatives from the opposition.

Opposition Leader Datuk Seri Hamzah Zainudin, in a statement on Thursday, however, said that PN will decide on the matter after perusing the terms of the draft memorandum of understanding (MOU) being prepared by the government.

PN welcomes govt's decision to extend allocations to opposition reps

Two German-Russian nationals have been arrested in Germany on suspicion of plotting sabotage attacks, including on US military facilities, in an effort to undermine military support for Ukraine, officials said on Thursday.

Germany arrests two for alleged military sabotage plot on behalf of Russia

Finance Minister II Datuk Seri Amir Hamzah Azizan held a bilateral discussion with Indonesia’s Finance Minister Sri Mulyani Indrawati in Washington, the US, including on Islamic finance and the halal industry.

Amir Hamzah, Indonesian counterpart discuss Islamic finance, halal industry in Washington

Discover Financial Services on Wednesday reported a 68% drop in first-quarter profit, as the lender set aside more in rainy-day funds to cover for potential credit losses amid an uncertain economy.

Discover Financial's profit falls on higher loan loss provisions

JAKARTA (April 18): China and Indonesia have pledged to strengthen economic ties and maintain peace and stability in the region, China's Foreign Minister Wang Yi said on Thursday, after a meeting with his Indonesian counterpart, Retno Marsudi, in Jakarta.

China's foreign minister says Beijing and Jakarta want regional peace and stability

US Bancorp reduced the outlook for a key driver of its profit for the year as lenders face pressure to pay more for deposits.

The Minneapolis-based bank said on Wednesday that it now expects net interest income (NII) of US$16.1 billion (RM77.01 billion) to US$16.4 billion this year after previously guiding for NII to total US$16.6 billion or more this year. The trend of customers shifting funds to interest-bearing accounts from those that don’t pay interest hasn’t slowed as quickly as expected, with rates staying elevated, executives said on a conference call with analysts.

US Bancorp shares fall as lending-income guidance trimmed

Scam calls received by Malaysian users have more than doubled in 2023 compared to 2022, according to TrustTech service provider Gogolook.

In a statement on Thursday, Gogolook said its digital anti-fraud tool Whoscall had identified 1.63 million scam calls received by Malaysian users in 2023, representing an increase of 100.92% from over 812,000 calls in 2022.

Scam calls received by Malaysians doubled in 2023 — Whoscall report

<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>


Malaysia's aviation industry at risk amid full-blown crisis in Middle East — Maybank IB

<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>


PIE Industrial extends rally to new all-time high as Kenanga flags new client

<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>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

<p>The race for the “world’s best airport” crown has been a two-horse affair in recent years, with Doha’s Hamad International and Singapore Changi leading the pack.</p>


Singapore loses ‘world’s best airport’ crown to Qatar

<p>Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.</p>


Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO  

<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>


Stop buying gold ETF as prices may correct — Philip Capital

<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>


Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

<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>


Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

<p>The Federal Court on Thursday dismissed an appeal by the Petaling Jaya City Council (MBPJ) over the Court of Appeal’s decision last year that decided that non-paying members in a residential area (RA) could raise the boom gates at the entrance to the housing area themselves without the security guards' assistance.</p>


Federal Court dismisses MBPJ’s appeal on residents' boom gate operation

<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>


Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

<p>KUALA LUMPUR (April 18): Smart Asia Chemical Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.</p>


Smart Asia Chemical inks underwriting agreement with Mercury Securities en route to ACE Market IPO

<p>Research analysts covering IGB Real Estate Investment Trust (IGB REIT) remained sanguine on the stock’s prospects after it reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31, 2024 (1QFY2024) to RM124.24 million, from RM118.55 million a year earlier, thanks largely to higher rental income.</p>


Analysts remain sanguine on IGB REIT’s prospects going forward

<p>Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.</p>


HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

<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>


Bursa mixed at midday break, key index up

<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>


OB Holdings gets approval for ACE Market IPO, targets listing in 4Q

<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>


Asian stocks mixed as soaring dollar pauses

<p>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.</p>


Musk apologises for ‘incorrectly low’ Tesla severance packages

<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>


Google lays off employees, shifts some roles abroad amid cost cuts

<p>The Malaysian Bar argued in court that its challenge against Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's conditional discharge is not academic as it may determine the fate of the Yayasan Akalbudi graft case.</p>
