GHL Systems Bhd
(Oct 11, RM1.37)
Maintain buy with a lower target price (TP) of RM1.80: GHL Systems Bhd’s transaction payment acquisition (TPA) business benefits from the support of governments across the region towards a cashless economy. Additionally, increasing I...

Promising long-term prospects seen for GHL Systems

Oil & gas sector
Maintain neutral: The oil and gas (O&G) sector’s results for the second quarter of 2019 (2Q19) were largely below expectations. Petrochemical players Petronas Chemicals Group Bhd (PetChem) and Lotte Chemical Titan Holding Bhd (LC Titan) suffered fr...

Positive outlook seen for upstream O&G players on offshore ops recovery

Utilities sector
Maintain overweight: The utilities sector saw fairly subdued share price performance in the first half of 2019 (1H19) with only Malakoff Corp Bhd as the best performer. The big capitalised utilities companies — Tenaga Nasional Bhd (TNB) and Petronas Gas Bh...

Utilities players all set for industry reforms

Press Metal Aluminium Holdings Bhd
(Aug 21, RM4.79)
Maintain hold with a target price (TP) of RM4.20: Despite a higher sales mix of value-added products in 2019, revenue weakened to reflect the metal’s easing price amid inherent macro risks. Alumina prices stabilise...

Second half expected to offer mild earnings respite for Press Metal

Plantation sector
Maintain underweight on respective sectors: The recently concluded corporate earnings season was unsatisfactory, in our opinion. Among 12 plantation companies under our coverage, only one beat our expectation, namely Sarawak Plantation Bhd (SPB). A total ...

Plantation earnings in 2019 seen mixed after weaker CPO prices in 4Q18

Padini Holdings Bhd
(Feb 28, RM3.85)
Upgrade to buy with a target price of RM5: Padini Holdings Bhd’s revenue for the first half of financial year 2019 (1HFY19) increased 4.6% to RM792 million attributed to positive growth from existing stores and with four new ones...

Stable earnings expected for Padini’s upcoming quarters

Malakoff Corp Bhd
(Feb 25, 93.5 sen)
Maintain hold with a target price (TP) of 82 sen: The fourth quarter of 2018’s (4QFY18)core earnings surged quarter-on-quarter (q-o-q) and year-on-year (y-o-y) basis to RM101 million due mostly to low-base effects which were comp...

Malakoff FY18 core profit above estimates

Maxis Bhd
(Feb 18, RM5.55)
Maintain hold with a target price (TP) of RM5.15: Excluding one-off RM250 million and other EIs, Maxis Bhd’s fourth quarter of financial year 2018 (4QFY18) results’ core earnings fell -1.7% quarter-on-quarter and -2.2% year-on-year (y-o-y)...

Maxis’ sukuk programme deemed a fundraising option if needed

Dagang NeXchange Bhd
(Jan 29, 25.5 sen)
Downgrade to hold with a lower target price of 29 sen: Dagang NeXchange Bhd (DNeX) has moved towards strengthening its IT business by setting up the Asian Single Window (ASW) ahead of the liberalisation of Malaysia’s National ...

Dagang NeXchange’s energy unit seen to return to the black

Kuala Lumpur Kepong Bhd
(May 17, RM24.42)
Maintain hold with a target price (TP) of RM26.46: Kuala Lumpur Kepong Bhd’s (KLK) second quarter of financial year 2018 (2QFY18) core profit dropped 46% quarter-on-quarter (q-o-q) and 38% year-on-year (y-o-y), bringing firs...

KL Kepong’s fundamentals seen to remain solid

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

(April 26): HSBC Holdings Plc successfully fought off a London court claim brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 26): KPJ Healthcare Bhd, through its premier educational institution KPJ Healthcare University (KPJU), has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise healthcare.

KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

Wall Street rises as Big Tech charges higher

In today’s edition of Evening 5: 00:00 Merger of airlines enough to reverse negative equity - Fernandes 02:16 Govt set to unveil second 5G network next week  03:26 Unisem’s 1Q hit by margins, forex 04:30 Berjaya Corp denies Forest City casino talks   05:30 Homeritz’s 2Q earnings spike on stronger greenback

EVENING 5: Merger of airlines enough to reverse negative equity - Fernandes

A weekly round-up of tanker and dry bulk market (April 26, 2024)

Baltic Exchange shipping updates: April 26, 2024

KUALA LUMPUR (April 26): Gamuda Land, the property arm of Gamuda Bhd, has unveiled partners for Gardens Square, the latest commercial development at the 810-acre Gamuda Gardens in Sungai Buloh.

Gamuda Land announces retail partners for upcoming commercial development in Gamuda Gardens

The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering &amp; Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

EPF emerges as second largest shareholder of Sam Engineering

Gadang Holdings Bhd has secured a RM280 million contract to design and develop the Klang Valley Data Centre&nbsp;Block 2 in Cyberjaya from TM Technology Services Sdn Bhd, a business entity of Telekom Malaysia Bhd.

Gadang wins RM280 mil Klang Valley data centre jobs from TM Technology

Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

S P Setia Bhd will launch Casaville, which comprises 38 single-storey bungalows, in its Setia EcoHill township in Semenyih at end-April.

With a gross development value (GDV) of RM50 million, the homes measure 52ft by 90ft each, with built-ups from 1,994 to 2,074 sq ft, and a three-bedroom, three-bathroom layouts. The selling price starts from RM1.376 million. It is slated for completion in the second quarter of 2026.

S P Setia to launch single-storey bungalows in Setia EcoHill at end-April

Penang Chief Minister Chow Kon Yeow&nbsp;has announced that he is in talks with a group of companies which have recently participated in Selangor’s integrated circuit (IC) design park.

Integrated circuit design firms to announce investments in Penang on Saturday, says Chow

Wiradani Development Sdn Bhd — a property developer linked to the son of former finance minister Tun Daim Zainuddin — has filed a fresh winding-up petition against SPNB Aspirasi Sdn Bhd, a wholly-owned subsidiary of Syarikat Perumahan Negara Bhd (SPNB).

SPNB unit faces fresh winding-up petition on failure to complete payment to Wiradani after settlement

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Homeritz Corporation Bhd’s net profit surged by 65.9% in the second quarter ended Feb 29, 2024 (2QFY2024) to RM9.24 million, due to increased sales volume and a stronger US dollar.

Homeritz’s 2Q net profit jumps 66% on increased sales volume, stronger greenback

Datuk Seri Anwar Ibrahim said he will be returning the allowance received as chairman of Khazanah Nasional Berhad, reiterating that he does not draw a salary for the position of prime minister that he has held since November 2022.

Anwar returns Khazanah allowance, reiterates stance on salary waiver

Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's defamation lawsuit against former prime minister Tan Sri Muhyiddin Yassin is headed for a settlement after the two leaders agreed to end a personal dispute between them.

Zahid and Muhyiddin agree to settle defamation suit

KNM Group Bhd said it is seeking court sanction for a new scheme of arrangement with its creditors. The PN17 group is also seeking a further extension of time to submit its regularisation plan.

KNM seeks fresh scheme of arrangement with creditors

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

There are no plans to open or operate any casinos in the state, Johor Menteri Besar&nbsp;Datuk Onn Hafiz Ghazi said.

He said the news is merely a rumour intended for sabotage, and to maliciously tarnish the image of Forest City and the state of Johor as a whole.

Johor MB says no plan to open casino in Forest City

US monthly inflation rose moderately in March, but stubbornly higher housing and transportation costs suggested the Federal Reserve could keep interest rates elevated for a while.

US inflation rises in line with expectations; consumer spending strong

The US equity market will continue to rely on a handful of megacap stocks for direction until an uptick in real interest rates ignites recession fears, according to Bank of America Corp strategists.

US megacaps to lead stock rally until real rates bite, says BofA

(April 26):&nbsp;HSBC Holdings Plc successfully fought off a London court&nbsp;claim&nbsp;brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co&nbsp;film financing.

The allies of Republican presidential candidate Donald Trump are drafting proposals that would attempt to erode the Federal Reserve's independence if he wins, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

Trump allies drafting plans to erode Fed's independence — WSJ

KUALA LUMPUR (April 26):&nbsp;KPJ Healthcare Bhd, through its premier educational institution&nbsp;KPJ Healthcare University (KPJU),&nbsp;has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise&nbsp;healthcare.

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

BIMB Securities Research

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