<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 16): CIMB IB Research has maintained its “Add” rating on Vivocom International Holdings Bhd at 26 sen with an unchanged target price of 67 sen and said the biggest surprise was the RM1.5 billion potential new order wins in the next six months.</p></div>

<div class=newsTextDataWrapInner><p>In a note yesterday, the research house said Vivocom is likely to complete the balance 5.5% private placement by mid-2016.</p></div>

<div class=newsTextDataWrapInner><p>“Vivocom is finalising the award and contract values for RM1.5 billion worth of LOIs over the next six months.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“This was a big positive surprise, in our view, as combined with RM600 million in new contract wins announced so far, and assuming it secures RM800 million-RM1.6 billion from Gemas-JB double tracking project, our forecast of RM3 billion worth of contract wins in 2016 should be met or even surpassed,” it said.</p></div>

<div class=newsTextDataWrapInner><p>“We retain our EPS forecasts, SOP-based target price and Add rating. We diluted our EPS forecasts in our earlier report for the 10% private placement. Potential re-rating catalysts are contract win announcements and strong 1Q16 results,” it said.</p></div>

<div class=newsTextDataWrapInner><p>At 10.25am today, Vivocom was flat at 26.5 sen with 7.09 million shares done.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (March 16): CIMB IB Research has maintained its “Add” rating on Vivocom International Holdings Bhd at 26 sen with an unchanged target price of 67 sen and said the biggest surprise was the RM1.5 billion potential new order wins in the next six months.

In a note yesterday, th...

Vivocom to meet forecast of RM3b worth of contracts in 2016, says CIMB Research 

(April 17): Alphabet-owned Google 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.

The Google spokesperson said the layoffs are not company-wide and that affected ...

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

Oil prices rose in early trade on Thursday, slightly paring the previous session's losses after the US said it would reinstate oil sanctions Venezuela, while the European Union talked of fresh curbs on Iran.

Oil inches up after US reimposes Venezuela oil sanctions

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.

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

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.

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

United Airlines will receive compensation from planemaker Boeing for financial damages incurred in the first quarter due to the grounding of 737 MAX 9 aircraft, the carrier said on Wednesday.

United Airlines says Boeing to compensate for damages caused by MAX 9 grounding

Liquefied natural gas (LNG) remains the fuel of choice for lower-carbon shipping, despite the rise in orders for vessels equipped with dual-fuel methanol and ammonia engines, according to Oslo-based Rystad Energy.

LNG remains top choice for dual-fuelled vessels in shipping, says Rystad

US mortgage rates climbed to a four-month high last week, potentially signalling a bumpier recovery for the residential real estate market.

US 30-year mortgage rate rises to four-month high of 7.13%

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

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

[Branded] Gamuda Land has always believed in building generational townships. For Gamuda Gardens, the developer has teamed up Skyline Luge to make a place where fun, community and the environment all harmoniously intersect.

A Community Affair at Gamuda Luge Gardens

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.

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

<p>KUALA LUMPUR (April 17): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:</p>

<p><strong>IGB Real Estate Investment Trust </strong>(IGB REIT) reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31...

IGB REIT, Affin Bank, Keyfield International, HeiTech Padu, Reservoir Link, LBS Bina, Menang, Excel Force and MFM

<p>US Federal Reserve (Fed)&nbsp;chair Jerome Powell is making life tougher for his peers around the world, as the prospect of higher-for-longer US interest rates reduces room for easier policy elsewhere.</p>


Powell's higher-for-longer US rate warning means headaches for rest of the world

<p>The Unity Government Leadership Consultative Council meeting agreed that the government must act firmly and not compromise against extreme actions that can jeopardise the country’s stability.</p>

<p>Unity Government Secretariat chief Dr Asyraf Wajdi Dusuki said the matter was decided at Wednesday’s Unity Government Leadership Consultative Council meeting at Seri Perdana, Putrajaya.</p>


Unity Govt meeting: No compromise on extreme actions that can jeopardise country’s stability

<p>NEW YORK (April 18): US stocks closed lower on Wednesday as crude prices tumbled and investors weighed cautious US Federal Reserve commentary and ongoing geopolitical strife against mixed quarterly earnings.</p>

<p>Benchmark US Treasury yields and the dollar eased back from multi-month highs, ...

US stocks end down, crude slides amid Fed, geopolitical crosscurrents

<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>Former Parti Bersatu Rakyat Sabah (PBRS) president Tan Sri Joseph Kurup&nbsp;passed away on Wednesday night.</p>

<p>This&nbsp;was confirmed by an officer&nbsp;to his son, Datuk Arthur Joseph Kurup, who is the current&nbsp;PBRS president and the deputy agriculture and food security minister.</p>


Former PBRS president Joseph Kurup passes away

<p>Sabah has lost an experienced and exceptional leader with the passing of Parti Bersatu Rakyat Sabah (PBRS) founder Tan Sri Joseph Kurup, says Chief Minister Datuk Seri Hajiji Noor.</p>

<p>Expressing sympathy and condolences to the late leader's family, Hajiji said he had worked alongside Joseph as an assistant minister in the Sabah Ministry of Industrial Development in 1994, earning a deep respect for the veteran Sabah leader.</p>


Sabah lost an exceptional leader with Joseph Kurup's passing — Hajiji

<p>The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Wednesday, owing to weakness in the soybean oil futures on the Chicago Board of Trade and lower crude oil prices.</p>

<p>Palm oil trader David Ng told Bernama that the weaker market sentiment, however, was limited by the expectation of a stronger demand in the coming weeks.</p>


CPO futures ends lower amid weaker soybean oil futures, oil prices

<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>Executives at Dutch computer chip equipment maker ASML on Wednesday said they expect demand from Chinese customers to remain strong, representing "in the ballpark" of 20% of the company's order backlog.</p>


ASML executives say they expect continuing strong sales in China

<p>Prime Minister Datuk Seri Anwar Ibrahim has expressed his condolences to Deputy Minister of Agriculture and Food Securities Datuk Arthur Joseph Kurup and his family on the demise of his father, Tan Sri Joseph Kurup on Wednesday.</p>


PM extends condolences to family of Joseph Kurup

<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>


<p>A woman brought a 68-year-old man in a wheelchair into a bank branch and tried to get him to sign for a loan, but he had been dead for hours, Brazilian police said on Wednesday.</p>

<p>Erika Vieira Nunes wheeled the cadaver into the bank in a Rio suburb on Tuesday and told the teller the man wanted a loan for 17,000 reais (US$3,250), security camera video showed.</p>


Woman wheels corpse into Brazil bank to sign for loan

<p>Germany and China have signed a joint declaration to cooperate on autonomous and connected driving which Germany hopes will enable carmakers to transfer data from China to Germany, a contentious topic for foreign businesses in China.</p>


Germany, China sign joint declaration on car data sharing

<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>


<p>Gold prices firmed on Wednesday as geopolitical turmoil in the Middle East spurred safe-haven demand, but fading US rate cut hopes capped further upside.</p>

<p>Spot gold rose 0.4% to US$2,391.10 per ounce, as of 9.40am ET (1340 GMT). Prices hit an all-time high of US$2,431.29 on Friday.</p>


Gold drifts higher as Middle East turmoil lifts appeal

<p>Asian countries probably don't want it and they certainly didn't cause it, but a 'beggar thy neighbour' wave of exchange rate depreciation may be about to hit the continent.</p>

<p>If not a full-blown currency war, then a series of skirmishes is looming as policymakers grapple with a resurgent US dollar, a fragmented G10 central bank policy path, and a staggering slump in the Japanese yen which appears to have Tokyo's tacit approval.</p>


Asia braces for unwanted, but unavoidable FX battle

<p>Federal jurors in New York heard sharply contrasting arguments on whether a trader manipulated the Mango Markets cryptocurrency exchange to steal US$110 million (RM527.1 million) or executed a perfectly legal strategy that was permissible under the rules of the platform. &nbsp;</p>


Crypto trader’s US$110m manipulation case now with jury

<p>United Airlines will receive compensation from planemaker Boeing for financial damages incurred in the first quarter due to the grounding of 737 MAX 9 aircraft, the carrier said on Wednesday.</p>


<p>RHB Retail Research said Marine &amp; General Bhd is set for an uptrend reversal after undergoing a bullish breakout above the 28 sen resistance on Wednesday, on strong trading volume.</p>
