<div class=newsTextDataWrapInner><p><strong>Hovid Bhd (-ve)</strong><br />
Hovid (Fundamental: 2.1/3, Valuation: 0.5/3), which manufactures over 400 generic drugs, is likely seen as a proxy for the resilient healthcare industry. Yesterday, the stock hit a fresh one-year high of 55.5 sen with 32.1 million shares changing hands.</p></div>

<div class=newsTextDataWrapInner><p>Whilst the company has relatively strong fundamentals, scoring 2.1 out of 3, valuations appear pricey, scoring just 0.5 out of 3.</p></div>

<div class=newsTextDataWrapInner><p>Future earnings will be driven by capacity expansion. Phase 1 of its new manufacturing plant (adjacent to the current Chemor facility) is expected to be up and running by 2H2015 and would increase tablet and capsule capacity by 30%. By early-2016, tablet and capsule capacity would double from current levels.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>For 1HFYJune15, revenue rose 14.4% y-y to RM97.1 million while net profit expanded 26% y-y to RM10.4 million, bolstered by forex gains from US$-denominated export sales.</p></div>

<div class=newsTextDataWrapInner><p>Of interest, Kumpulan Wang Persaraan emerged as a substantial shareholder with a 5.04% stake in mid-April.</p></div>

<div class=newsTextDataWrapInner><p><img alt="hovid_22apr15" src="http://edgemarkets.s3-ap-southeast-1.amazonaws.com/pictures/hovid_22apr15.png" style="height:575px; width:426px" /></p></div>

<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily,</em> on April 22, 2015.</p></div>


Hovid Bhd (-ve)
Hovid (Fundamental: 2.1/3, Valuation: 0.5/3), which manufactures over 400 generic drugs, is likely seen as a proxy for the resilient healthcare industry. Yesterday, the stock hit a fresh one-year high of 55.5 sen with 32.1 million shares changing hands....

Stocks With Momentum: Hovid

Standard Chartered Plc is offering short-term deposit rates of as high as 10% as the lender seeks to attract Chinese customers.

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China’s Zhejiang Geely Holding Group is selling the entirety of its Class B shares in truckmaker Volvo AB that were worth about 14.46 billion Swedish krona (RM6.2 billion).

Geely to sell US$1.32b of Volvo Truck shares 

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.

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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.

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

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.

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

Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports of a sharp escalation in Middle East hostilities.

Stocks sink, oil jumps as Middle East attack reports unnerve markets

Malaysia Airlines has commenced the gradual reinstatement of flights to and from Sabah, Sarawak and Labuan since the evening of April 18, in response to prevailing weather conditions.

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Daniel Suidani, a prominent Solomon Islands critic of China, who was former Malaita province premier, has been reelected to the provincial assembly, local media reported on Friday, as counting continues in the key Pacific island nation's election.

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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).

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<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>


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<p>Israeli missiles have hit a site in Iran, <i>ABC News</i> reported late on Thursday, citing a US official, while Iranian state media reported an explosion in the center of the country, days after Iran launched a retaliatory drone strike on Israel.</p>


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<p>FE Green Pet (M) Sdn Bhd’s new high-tech recycling factory is expected to make Melaka a green investment destination and complement the economic growth strategy in the state, said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.</p>

<p>He said with an investment totalling approximately RM958 million, the plant on 14 hectares of land is projected to be completed by 2Q 2025, creating almost 500 jobs.</p>


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<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>


<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 of a sharp escalation in Middle East hostilities.</p>


<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>


<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>


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<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>


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<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>


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<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>


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<p>Hong Leong Investment Bank (HLIB) expects Bursa Malaysia Bhd’s earnings for the first quarter to rise 34% year-on-year to RM75 million, amid the expectation of higher securities average daily value (ADV) and derivatives average daily contract (ADC).</p>


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<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>Chinese government-linked hackers have burrowed into US critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI director Christopher Wray said on Thursday.</p>


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<p>The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower for the fifth consecutive day, said palm oil trader David Ng.</p>

<p>He said the weaker soybean oil market and lower crude oil prices continue to pile pressure on prices.</p>


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<p>RHB Retail Research said Muhibbah Engineering (M) Bhd may be headed for an uptrend after rebounding strongly from a recent pullback and pushing past the 21-day simple moving average line.</p>


Muhibbah Engineering may be headed for uptrend, says RHB Retail Research 

<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>


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<p>Bursa Malaysia started the morning trading in positive territory, attributed to broad-based buying in response to a regional recovery, with investors seen focusing on counters with high cash reserves.</p>


Bursa opens higher on buying sentiment

<p>Rakuten Trade said United U-Li Corporation Bhd may trend higher after breaking out from its two-week bullish flag pattern with a long white candle on Thursday.</p>


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<p>Hong Leong Investment Bank (HLIB) said Kimlun Corp Bhd’s earnings is primed for promising prospects in FY2024-25, underpinned by an unbilled orderbook of RM2.48 billion (3.0x cover on FY2023 revenue and the highest achieved since FY2018), with 85% dedicated to construction and the remaining to precast manufacturing.</p>
