Westports Holdings Bhd
(Nov 12, RM3.65)
Maintain hold with an unchanged target price of RM4.01: Westports Holdings Bhd reported higher earnings before interest, taxes, depreciation and amortisation (Ebitda) of RM724 million for the nine-month period ended Sept 30, 2...

Modest 2019 throughput growth expected for Westports

Poh Huat Resources Holdings Bhd
(Nov 7, RM1.44)
Maintain buy with a higher target price of RM1.71: The ongoing trade dispute between the US and China is turning Malaysian furniture manufacturers more competitive versus those in China.

Poh Huat Resources Ho...

US-China trade spat expected to keep Poh Huat competitive

Public Bank Bhd
(Oct 26, RM24.62)
Downgrade to hold with a lower target price of RM23.50: Public Bank Bhd’s net profit of RM4.18 billion for its first nine months of financial year 2018 (9MFY18) was broadly within our and consensus estimates. Though net profit for t...

Public Bank’s 9MFY18 results broadly within estimates

YTL Corp Bhd
(Oct 25, 1.05)
Downgrade to sell with a lower target price (TP) of 90 sen: We believe that the operating environment for the cement segment will remain challenging and expect its profit margin to narrow further, due to rising operating costs.

...

YTL likely to face challenging cement segment

UMW Holdings Bhd
(Oct 22, RM4.70)
Upgrade to buy with a higher target price (TP) of RM6.30: We expect softer sales volume moving into the fourth quarter of 2018 (4Q18) due to advanced purchases during the tax holiday period. Moving forward, UMW Holdings Bhd (UMW) wi...

UMW’s equipment earnings expected to grow

Construction sector
Maintain neutral: In the mid-term review of the 11th Malaysia Plan 2016 to 2020 (11MP), the government has cut the development expenditure ceiling to RM220 billion from RM260 billion to consolidate its fiscal position. The annual construction sector ave...

Risk of order-book reductions seen for construction sector

Telekom Malaysia Bhd
(Oct 16, RM2.58)
Maintain sell with a lower target price (TP) of RM2.25: The government seeks to heighten competition in the telecommunications sector (as reported by The Edge Financial Daily) and foreign telecommunication companies have express...

Possible new entrants likely to challenge TM’s market dominance

LPI Capital Bhd
(Oct 11, RM16.52)
Maintain buy with an unchanged target price (TP) of RM18.90: LPI Capital Bhd saw a favourable quarter in the third quarter of financial year 2018 (3QFY18), with net profit coming in at RM91.8 million (+40% quarter-on-quarter [q-o-q]...

LPI Capital likely to repeat strong 3Q performance in 4Q

Construction sector
Maintain neutral: The outlook for the construction sector remains challenging as the federal government is reviewing ongoing infrastructure projects to reduce costs by 20%-33%. Projects that could be affected include the Klang Valley mass rapid transit ...

Risk of order book reductions seen with infrastructure job cuts

Kelington Group Bhd
(Oct 3, RM1.19)
Initiate coverage with buy and a target price (TP) of RM1.60: Kelington Group Bhd is an established ultra-high purity (UHP) delivery system provider with 18 years of experience. The next wave of growth will likely see the group le...

Industrial gas seen to provide Kelington with long-term income

Thailand will name former corporate energy executive and central bank board member Pichai Chunhavajira as its new finance minister, taking over the role from Prime Minister Srettha Thavisin, two government sources told Reuters on Thursday.

Thailand to appoint former energy executive Pichai finance minister — Reuters

MOSCOW (April 25): The head of the Belarusian security service said on Thursday it had thwarted an attack on the capital Minsk by drones launched from Lithuania, Russian state news agencies said.

There was no immediate comment from NATO-member Lithuania.

"The State Security Co...

Belarus says it thwarted attack on capital by drones launched from Lithuania

KUALA LUMPUR (April 25): AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation businesses, announced the mechanics of its plan via a bourse filing on Thursday.

It will first undertake an internal reorganisation that involves the setting up of a new company (NewCo)...

AirAsia X to buy Capital A's aviation business for RM6.8 b via share deal 

Practice Note 17 (PN17) company Khee San Bhd will increase the allotment underwritten in its proposed rights issue after Ng Meng Kee ceased to be a substantial shareholder and requested to discharge his undertaking.

Khee San revises underwriting of rights issue after substantial shareholder ceases to be, withdraws undertaking

Indonesian president elect Prabowo Subianto received a boost on Thursday after a prominent political party that backed another candidate pledged its support for his administration, moving him a step closer to securing a majority in the new parliament.

NasDem, which won 10% of the vote in February's legislative election, was ready to pledge its "full support" for the next administration, its chief Surya Paloh told reporters after a meeting with Prabowo.

Indonesia's Prabowo closes in on parliamentary majority after rival party pledges support

The Employees Provident Fund (EPF) has announced the implementation of Account 3, named Flexible Account, from May 11.

NEWS: EPF introduces Account 3

Global semiconductor firm Nasdaq-listed TTM Technologies Inc has invested US$200 million (about RM958 million) for its first manufacturing plant in Malaysia.

Nasdaq-listed TTM Technologies invests RM958 mil for manufacturing plant in Penang

Pantech Group Holdings Bhd is considering to list two wholly-owned subsidiaries — Pantech Stainless & Alloy Industries Sdn Bhd and Pantech Steel Industries Sdn Bhd — on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV).

Plans for this are still at the preliminary stage and extensive preparatory work needs to be carried out, Pantech said in a bourse filing on Thursday.

Pantech mulls listing two subsidiaries on Main Market via SPV

PARIS (April 25): French President Emmanuel Macron appealed on Thursday for stronger, more integrated European defences and said the continent must not become a vassal of the United States, as he outlined his vision for a more assertive European Union (EU) on the global stage.

'Europe could die,' Macron warns, as he calls for stronger defences

Construction company Inta Bina Group Bhd has secured a contract worth RM224.8 million to develop a 38-storey business serviced apartment in Subang Jaya.

Inta Bina bags RM224.8m job to build business serviced apartments in Subang Jaya

KUALA LUMPUR (April 25): Members of the the Employees Provident Fund (EPF) who are below 55 years old will have an Account 3 starting from May 11, from which they can make withdrawals at any time for any purpose —&nbsp;subject to a minimum withdrawal amount of RM50. This is on top of the two existing accounts they currently have for retirement savings.&nbsp;

EPF members under age 55 will have Account 3 starting May 11

Malaysia is in early discussions with tycoons on opening a casino in Forest City, people familiar with the matter said, in a bid to revive the beleaguered US$100 billion (RM478.35 billion) property project that counts the country’s monarch as one of its shareholders.

Malaysia is said to mull casino resort to revive Forest City

Shares of YTL Corp Bhd rallied to a new all-time high on Thursday after Hong Leong Investment Bank (HLIB) flagged more upside even after a 42% year-to-date surge.

YTL Corp rallies to new all-time high after HLIB flags more upside

Digital Nasional Bhd (DNB), the state-owned company in charge of the 5G network infrastructure rollout, on Thursday named five new board members, comprising senior leaders from the telecom and technology industries.

Digital Nasional names senior telco and tech leaders as new directors

A made-in-China electric vehicle (EV) will hit US dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about US$8,000 (RM38,228) less.

How Volvo landed a cheap Chinese EV on US shores in a trade war

Sports retailer Al-Ikhsan Sports Sdn Bhd, in which state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) owns a 35% stake, has appointed Datuk Hishammudin Hasan as its new chief executive officer effective April 17.

Ekuinas-backed Al-Ikhsan Sports names former 7-Eleven head as CEO

Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.

Axiata, Sinar Mas move closer to US$3.5b telco merger, Bloomberg reports

KUALA LUMPUR (April 25): Mega First Corp Bhd shares have likely peaked following a recent rally to new all-time highs, and investors should stop buying the stock now, Maybank Investment Bank (Maybank IB) said and downgraded the stock to ‘hold’.

Maybank IB is the first from a total of fi...

Mega First shares likely peaked; Maybank IB the first to downgrade stock

Prime Minister Datuk Seri Anwar Ibrahim on Thursday denied claims that the government will issue a licence for the operation of a casino in Forest City, Johor.

PM denies claims that govt issuing casino licence for Forest City

Housing and Local Government Minister Nga Kor Ming’s press secretary Pang Sock Tao was announced as the unity government’s candidate for the Kuala Kubu Baharu by-election on May 11.

Nga's press secretary Pang picked as unity govt's candidate for Kuala Kubu Baharu by-election

JOHOR BAHRU (April 25): The Johor branch of the Malaysian Quarantine and Inspection Services Department (Maqis) found parasitic worms Anisakis sp in samples of sardine cans from China that were brought in through the Sultan Iskandar Building (BSI) here, earlier this month.

Parasitic worms Anisakis sp found in canned sardines from China — Johor dept

KUALA LUMPUR (April 25): Agricore CS Holdings Bhd, a food ingredients supplier, has obtained approval from Bursa Malaysia Securities Bhd to list on its ACE Market.

Agricore CS Holdings gets Bursa Malaysia nod to list on ACE Market

Malaysia’s consumer inflation came in lower than expected in March from a year earlier as prices of healthcare and food rose at a slower pace, official data on Thursday showed.

The Consumer Price Index — Malaysia’s main gauge of inflation — rose 1.8% year-on-year, according to the Department of Statistics. The headline figure was a tad lower than the median 2% rise predicted in a Bloomberg survey of economists, and unchanged versus February’s 1.8% gain.

Malaysia’s inflation steady at 1.8% in March

IOI Properties Group broke ground on Thursday for Senna Puteri, its latest township development located in Sepang, Selangor. The developer is looking to launch 386 units of townhouses in its first phase before the end of the second quarter.

Spanning 117 acres in southern Klang Valley, the 12-phase Senna Puteri will be developed over the next 10 years, offering residential, commercial, recreational areas, green spaces, community hall, surau and more. It has a gross development value (GDV) of over RM3 billion.

IOI Properties breaks ground for 117-acre Senna Puteri in Sepang

The Malaysian Anti-Corruption Commission (MACC) has confirmed that former prime minister Tun Dr Mahathir Mohamad is among individuals under investigation by the commission.

Azam Baki confirms Dr M among individuals under MACC probe

The Court of Appeal has allowed a bid by Tan Sri Muhyiddin Yassin to have a bench of five judges to hear his review application to restore his acquittal by the High Court of four of his abuse of power charges last year.

His lawyer Chetan Jethwani said that Court of Appeal deputy registrar Muhammad Noor Firdaus Rosli informed the parties of the matter on Thursday morning during case management.

Appellate court grants Muhyiddin five-member bench for review of charges

RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.

Naim Holdings likely to resume its uptrend, says RHB Retail Research 

RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.

NationGate is observing technical breakout, says RHB Retail Research 

Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.

Singapore's Keppel profit rises on strong infra, connectivity performance

KUALA LUMPUR (April 25): Former prime minister Datuk Seri Najib Razak had never instructed 1Malaysia Development Bhd’s (1MDB) management to transfer a total US$1.03 billion to Good Star Ltd, a company linked to the fugitive Low Taek Jho (Jho Low), the court heard on Thursday.

Affin Hwang Capital Research

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Affin Hwang Capital Research

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