<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on June 20, 2017</span></p></div><div class=newsTextDataWrapInner><p><strong>Stock With Momentum: Sam Engineering &amp; Equipment (M) Bhd (-ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>SHARES in Sam Engineering &amp; Equipment (M) Bhd (valuation: 1.1/3, fundamental: 2.5/3) triggered our algorithm momentum yesterday for the first time this year. The counter gained 43 sen or 5.89% to close at its 11-month high of RM7.73 yesterday, with 632,000 shares traded.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The company has recently announced a first interim dividend of 10.28 sen per share and a special dividend of 6.95 sen per share for its financial year ended March 31, 2017, (FY17), payable on Aug 15.</p></div>

<div class=newsTextDataWrapInner><p>However, the company saw its net profit for FY17 decline 30.9% to RM43.61 million in FY17 from RM63.09 million in FY16. Revenue also fell 13.3% to RM537.4 million from RM620.05 million, on a lower contribution from the equipment manufacturing segment due to weaker demand from customers.</p></div>

<div class=newsTextDataWrapInner><p>Year to date, shares in Sam Engineering have gained 57.76%.</p></div>


Stock With Momentum: Sam Engineering & Equipment (M) Bhd (-ve)

SHARES in Sam Engineering & Equipment (M) Bhd (valuation: 1.1/3, fundamental: 2.5/3) triggered our algorithm momentum yesterday for the first time this year. The counter gained 43 sen or 5.89% to clo...

Stock With Momentum: Sam Engineering & Equipment

At this year’s China Development Forum (the highest-level annual meeting between senior Chinese policymakers and top CEOs, current and former policymakers, and academics like me), the discussion focused squarely on the risk of China falling into the dreaded “middle-income trap”. After all, few em...

After The Storm: China confronts the middle-income trap

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.

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

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.

Bursa mixed at midday break, key index up

Since its inception in 1944, Kia, the oldest vehicle manufacturer in South Korea, has been a trailblazer in the global automotive industry. From its humble beginnings crafting bicycles and motorcycles, Kia has evolved into a powerhouse within the Hyundai Motor Group.

Revolutionising the road: How Kia is shaping the future of EVs

KUALA LUMPUR (April 18): MIDF Research has maintained a positive outlook on the property sector, as it sees that the landscape for the sector is improving, underpinned by a stable house price index (HPI) outlook, an unchanged overnight policy rate at 3.0%, and a noticeable reduction in residential overhang.

MIDF Research maintains positive outlook on property sector

Finance Minister II Datuk Seri Amir Hamzah Azizan is leading Malaysia's delegation to Washington DC, the US, to attend the 2024 Spring Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG) from April 17-19.

Amir Hamzah leading Malaysian delegation to IMF, World Bank Group spring meetings

KUALA LUMPUR (April 18): Axiata Group Bhd, Malaysia’s largest telecom company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their operations in Sri Lanka through a share swap deal.

Malaysia’s Axiata, Bharti of India to combine Sri Lanka ops

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.

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

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.

Malaysia Airlines, AirAsia cancel flights to Sabah, Sarawak after volcano eruption in Indonesia

China reiterated the need to prevent one-sided moves in the yuan, as a resurgent dollar and poor risk sentiment pressure currencies across Asia.

The nation will “resolutely” put the yuan back on track when traders place lopsided bets and it’ll also attempt to avoid excessive volatility, the People’s Bank of China (PBOC) said in a report on its social media account on Thursday.

China restates need for steady yuan amid fragile confidence

<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>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>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>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>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>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>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>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>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>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>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 stock market saw its longest losing streak since January as a handful of big techs sold off — despite a slide in bond yields.</p>


S&P 500 suffers its longest slide since January

<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>


<p>Federal Reserve Bank of Cleveland president Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.</p>


Mester says US Fed can hold rates steady, not in a hurry to cut

<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>


<p>The ringgit extended Wednesday’s gains to open higher against the US dollar on Thursday as the greenback retreated from multi-month highs after a pullback in US Treasury yields, said an analyst.&nbsp;</p>


Ringgit extends gains against US dollar at opening

<p>Asian central banks’ need for assertive defense of their currencies is driving traders to turn less dovish on monetary policies in the region.</p>


Slower US Fed pivot weakens rate-cut bets across emerging Asia

<p>China Tianrui Group Cement Co said a sudden drop in its stock last week triggered a margin call involving a major shareholder, explaining the dynamic behind a dramatic plunge that wiped out nearly all of its market value.</p>
