Media Prima Bhd
(July 4, 48.5 sen)
Maintain reduce with an unchanged target price of 34 sen: Quoting sources, theedgemarkets.com in a July 3 report disclosed that Umno had sold an 11.1% stake in Media Prima Bhd, held in proxy by Gabungan Kesturi Sdn Bhd. The buyer i...

Media Prima revenue likely to continue to decline

Sapura Energy Bhd
(June 28, 30 sen)
Maintain hold with a lower target price of 32 sen: Sapura Energy Bhd’s first quarter of financial year 2020 (1QFY20) core net loss of RM188 million was 21% wider year-on-year (y-o-y), mainly on account of the weaker underlying ear...

Sapura Energy’s Sarawak fields on track for first gas at year end

Yinson Holdings Bhd
(June 27, RM6.10)
Downgrade to hold with a higher target price of RM6.14: Yinson Holdings Bhd’s core net profit for the first quarter of financial year 2020 (1QFY20) fell 63% year-on-year (y-o-y), mainly due to the cessation of the floating produ...

Yinson’s FPSO conversions seen to bring revenue from year end

FGV Holdings Bhd
(June 24, RM1.15)
Maintain hold with an unchanged target price of RM1.18: In his second letter to shareholders filed with Bursa Malaysia, FGV Holdings Bhd chairman Datuk Wira Azhar revealed: i) it is working on a strategic plan to allow FGV to reali...

FGV working on strategic plan to realise full potential

Bermaz Auto Bhd
(June 21, RM2.60)
Maintain add with an unchanged target price (TP) of RM3.30 sen: We hosted a meeting with Bermaz Auto Bhd (BAuto) chief executive officer (CEO) Datuk Francis Lee last week following its fourth-quarter financial year 2019 (4QFY19) res...

New launches, stronger export growth seen among rerating catalysts for BAuto

Construction sector
Maintain neutral: Various press reports have recently highlighted a potential 40-50% increase in cement prices from July 1. The increase translates into a hike of RM80-RM90 per tonne from the current average selling price (ASP) of about RM200 per tonne ...

Small amounts over a period of time seen the way for cement price hike

Berjaya Sports Toto Bhd
(June 19, RM2.66)
Downgrade to hold with an unchanged target price (TP) of RM2.62: Berjaya Sports Toto Bhd’s (BToto) 12 months of financial year 2019 (12MFY19) core net profit was up 20.4% year-on-year (y-o-y) at RM276.5 million, mainly due t...

BToto 4Q helped by good NFO profit

Success Transformer Corp Bhd
(June 18, 92 sen)
Maintain add with an unchanged target price (TP) of RM1.39: Success Transformer Corp Bhd’s (STC) revenue declined 10.1% quarter-on-quarter (q-o-q) and core net profit fell 31.7% q-o-q in the third quarter of financial y...

Success Transformer seen to gain from govt’s street light replacement exercise

MSM Malaysia Holdings Bhd
(June 17, RM1.46)
Maintain reduce with an unchanged target price of RM1.39: According to Domestic Trade and Consumer Affairs Deputy Minister Chong Chieng Jen, the government will not reconsider its decision to grant sugar import permits to ...

Further pressure on profit margin expected for MSM on lower ASPs

YTL Corp Bhd
(June 14, RM1.15)
Maintain hold with an unchanged target price (TP) of RM1.13: The acceptance period for YTL Cement Bhd’s mandatory offer (MO) for the remaining 49% stake in Lafarge closed last Thursday. Minority shareholders with a collective 26% share...

YTL’s pricing power expected to be enhanced Lafarge stake

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak to collaborate with rare earth elements company from South Korea, says MB

Global stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen sank to a 34-year low after the Bank of Japan (BOJ) kept monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

Who pays for anytime EPF withdrawals?

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

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

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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.

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

(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.

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.

Wall Street rises as Big Tech charges higher

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.

US equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for rate cuts this year.

US equity funds see fourth straight week of outflows amid rate cut reassessment

HULU SELANGOR (April 28): The Ministry of Health (MOH) stands by its decision to amend the Medical Act 1971 (Act 50) to bridge the gap between the parallel pathway programme (PPP) and the local medical degree programme, despite objections from some parties.

Health Ministry stands by decision to amend Medical Act 1971

Fast-fashion firm&nbsp;Shein&nbsp;has been drawn under the scope of flagship&nbsp;European Union (EU) rules designed to clamp down on illegal and harmful content online, aimed at stopping the spread of counterfeit items on the platform.

EU hits fast-fashion giant Shein with new digital rules

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

HOUSTON/BENGALURU (April 26): Oil giant&nbsp;Chevron&nbsp;Corp&nbsp;beat estimates for first-quarter profit on Friday, as higher production volumes&nbsp;in the US&nbsp;helped offset a hit from weak natural gas prices&nbsp;and fuel margins.

Chevron posts 1Q profit beat with oil production gains

WASHINGTON (April 26):&nbsp;Ukrainian President Volodymyr Zelenskiy called on Friday for additional air defence systems to be sent to Kyiv to help protect against Russian strikes, adding that a pause in US&nbsp;funding had helped Moscow seize the initiative.

Ukraine's Zelenskiy calls for air defence systems as allies meet

Global&nbsp;stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen&nbsp;sank to a&nbsp;34-year low after the Bank of Japan (BOJ)&nbsp;kept&nbsp;monetary policy loose.

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

Baltic Exchange shipping updates: April 26, 2024

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

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