<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on July 12, 2019</span></p></div><div class=newsTextDataWrapInner><p><strong>REDtone International Bhd (+ve)</strong><br />
TRADING of shares in REDtone International Bhd (fundamental: 2.2/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the sixth time this year. The counter closed up 2.5 sen or 6.67% at 40 sen, after 14.76 million shares were traded, higher than its 200-day average volume of 1.18 million shares.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group is an Multimedia Super Corridor-status company that provides data and broadband services to corporate, small and medium enterprises and government sectors. It also helps manage and build WiFi networks.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Its net profit for the fourth quarter ended April 30, 2019 climbed 53% to RM4.8 million, from RM3.13 million in the previous year, thanks to higher contributions from its managed telecommunication network service segment. Revenue jumped 132% to RM73.38 million from RM31.61 million. For its full financial year 2019, net profit was 2.6 times higher at RM15.36 million versus RM5.97 million a year ago, as revenue grew 52% to RM178.93 million from RM118.08 million.</p></div>

<div class=newsTextDataWrapInner><p>As of yesterday, REDtone was trading at 1.94 times its net book value.</p></div>


REDtone International Bhd (+ve)
TRADING of shares in REDtone International Bhd (fundamental: 2.2/3, valuation: 0.9/3) triggered our momentum algorithm yesterday for the sixth time this year. The counter closed up 2.5 sen or 6.67% at 40 sen, after 14.76 million shares were ...

Stock With Momentum: REDtone International

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Emerging Asian equities and currencies were sharply lower on Friday as reports Israel attacked Iran in an escalation of tensions in the Middle East led investors to flee to safe-haven assets, including the US dollar.

Surging dollar pressures Asian FX; South Korean won leads losses

PUTRAJAYA (April 19): Payment of fees for training or classes in esports, equestrian, swimming, motorsports and taekwondo is eligible for tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.

Payment of fees for sports training eligible for tax relief from next year — Hannah

Taiwan said on Friday China's decision to open new air routes that run perilously close to two Taiwanese-controlled islands was a flight safety risk taken without consultation, adding it will demand any aircraft using them be asked to turn around.

China opens new air routes near Taiwanese islands

Indonesia said fiscal and monetary policies are in sync to cushion the economy from the rising dollar, demonstrating an all-hands-on-deck approach, with the central bank signalling they’re intervening more actively to aid the rupiah.

Indonesia takes steps to shield economy from strong dollar

Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.

Israel attacks Iran, Reuters reports, as drones shot down over Isfahan 

Five Japanese nationals survived a suicide bomb attack on their vehicle on Friday, as police in Pakistan's city of Karachi shot down a gunman accompanying the bomber, a police spokesperson said, but two passers-by were injured.

Five Japanese nationals escape Pakistan suicide blast attack

KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

Yinson’s unit places US$500 mil five-year senior secured bonds

Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.

Sime Darby Property gets commitment for balance 30% of RM1b industrial development fund

EG Industries Bhd has secured a second letter of intent (LOI) from US-based Cambridge Industries Group (CIG) to produce a new 1.6 terabit optical signal transmitter and receiver for a 5G wireless network at EG Industries’ new smart factory 4.0 in Penang.

EG Industries expands partnership with US-based Cambridge Industries Group

<p>Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.</p>


<p>Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>


Awantec shares plunge 53%, intraday short selling suspended 

<p>Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.</p>


Trading in Sapura Energy suspended pending announcement 

<p>PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.</p>


PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


 Sarawak aiming to transform itself into a centre for clean hydrogen energy

<p>Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.</p>


Stocks sink, oil jumps after Israeli attack on Iran

<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

<p>Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.</p>


Apple pulls WhatsApp, Threads from China app store after Beijing order

<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


KLCI up 0.43% with focus on energy, plantation, financial stocks

<p>Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.</p>


Bursa Malaysia 1Q earnings likely up 34% y-o-y, HLIB projects

<p>Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.</p>


Malaysia’s March exports down 0.8%, imports surge 12.5%

<p>KUALA LUMPUR (April 19): MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;</p>


Main-Market bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

<p>The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.</p>


Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

<p>The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.</p>


US stops UN from recognising a Palestinian state through membership

<p>The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.</p>


US bank reserve balances see largest drop since 2022 tax season

<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>


Melaka State Secretary Zaidi dies of heart attack

<p>Cocoa futures hit a new high in New York — topping US$11,000 (RM52,624) a metric tonne — as the pace of processing in chocolate factories holds up even in the face of a global supply crunch and record prices.</p>
