Media Prima Bhd
(March 1, 47.5 sen)
Maintain hold with a target price (TP) of 51 sen: Media Prima’s fourth quarter of financial year 2018 (4QFY18) revenue rose 7% quarter-on-quarter (q-o-q) driven by an 11% rise in television (TV) segment revenue. However, sequentia...

Media Prima’s revenue growth seen via digital media, commercial units

Carlsberg Brewery Malaysia Bhd
(Feb 15, RM21.92)
Upgrade to add with a target price (TP) of RM24.50: Bloomberg consensus estimates that Carlsberg’s FY18 core net profit of RM272.5 million came in above expectations, at 107% of our and 103% Bloomberg consensus estima...

Carlsberg premium beers seen to boost sales

AirAsia Group Bhd
(Feb 14, RM3.09)
Maintain reduce with a target price (TP) of RM1.82: We have lowered our jet fuel price assumptions from US$90/barrel to US$75/barrel for FY19F (forecast) and from US$95/barrel to US$85/barrel for FY20F following significant global ...

Fuel prices, new airport charges may weigh on AirAsia Group’s earnings

Berjaya Food Bhd
(Feb 8, RM1.36)
Maintain add with a higher target price (TP) of RM1.91: As part of an ongoing revamp of Kenny Rogers Roasters’ (KRR) operations, Berjaya Food Bhd (BFood) will be focusing on reorganising the former’s menu, which in our view could hel...

Starbucks ops expected to remain Bfood’s major profit driver

Construction sector
Maintain underweight: The recent series of news reports on the East Coast Rail Link (ECRL) has left us with more questions than answers as to the project’s status since a stop-work order/project suspension was issued in July 2018. Our observations based...

Limited gains for contractors if ECRL funding structure remains

Fraser & Neave Holdings Bhd
(Jan 24, RM34.54)
Maintain hold with an unchanged target price (TP) of RM36.90: Fraser & Neave Holdings Bhd (F&N) announced that it had allocated RM30 million capital expenditure (capex) in FY19 to accelerate its plans to deve...

F&N seen to remain leader in ready-to-drink, dairy segments

Destini Bhd
(Jan 23, 25.5 sen)
Maintain add with an unchanged target price (TP) of 34 sen: On Tuesday, Destini Bhd announced its wholly-owned subsidiary Destini Oil Services Sdn Bhd has won a contract for the provision of tubular running services (TRS) for the explo...

Destini likely to benefit from Petronas DOOW jobs

KPJ Healthcare Bhd
(Jan 16, RM1.02)
Maintain add with an unchanged target price (TP) of RM1.27: We hosted KPJ Healthcare Bhd at our Malaysia Corporate Day held recently.

During the meeting, KPJ indicated that it will further expand its network of 25 hospit...

Greenfield, brownfield expansion to drive KPJ Healthcare growth

FGV Holdings Bhd
(Jan 15, 93 sen)
Maintain hold with an unchanged target price (TP) of 92 sen: In a letter to shareholders filed with Bursa Malaysia yesterday, FGV Holdings Bhd chairman and interim group chief executive officer (CEO) Datuk Wira Azhar Abdul Hamid sai...

FGV likely to turn around ops with aggressive KPIs set

Muhibbah Engineering (M) Bhd
(Jan 14, RM3.01)
Maintain add with an unchanged target price (TP) of RM3.76: During a small group meeting at our Malaysia Corporate Day, Muhibbah Engineering (M) Bhd reiterated its positive outlook for its business in 2019, viewing its o...

Muhibbah likely to expand into new airport concessions regionally

The first ICCA Association Impact Masterclass kicked off in Kuching on Friday with 24 Malaysian and international association leaders in line to be awarded the “Association Impact Leadership” Certificate.

ICCA Association Impact Masterclass kicks off in Kuching

The global legal technology market has grown significantly in recent years and generative AI (GenAI) will accelerate this growth, with the market reaching US$50 billion (RM238.88 billion) in value by 2027, according to Gartner Inc.

Global legal tech market will hit US$50b by 2027, says Gartner

(April 25): Shares of Meta Platforms sank 13% on Thursday, sparking a selloff in big technology stocks after the social media firm signaled its costly bet on AI could take years to pay off.

The drop was set to erase nearly $170 billion from the company's market value and triggered ...

Meta sparks tech selloff as AI splurge spooks Wall Street

Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

Vitrox shares on pace for worst day in 18 months as 1Q disappoints

Four of seven ships trapped in Baltimore Harbour since the Francis Scott Key Bridge collapsed last month have cleared the wreckage and are en route to their destinations.

Baltimore’s trapped ships start leaving as new channel opens

Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data centre and PC chips and trails in the surging market for artificial intelligence (AI) components.

Intel forecast misses estimates; shares tumble

China’s top diplomat Wang Yi warned his American counterpart that problems are mounting between the world’s largest economies, as the US threatens Beijing with sanctions for its support of Russia.

China warns Blinken ‘negative factors’ building in US relations

Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence (AI) across its cloud services, and the company's shares jumped more than 4% in extended trade.

Microsoft results top Wall Street targets, driven by AI investment

The US plans to award Micron Technology Inc US$6.1 billion (RM29.14 billion) in grants and as much as US$7.5 billion in loans to help the memory-chip maker build new American factories, rounding out a slew of major federal awards for advanced semiconductor manufacturing.

Micron clinches up to US$13.6b in US grants, loans

US Treasury Secretary Janet Yellen said on Thursday the strong dollar reflected the strength of the US economy and high interest rates, insisting that interventions by governments in currency markets were acceptable only in rare circumstances.

Yellen says currency intervention acceptable only in rare situations

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

AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.

Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.

Harvey Weinstein's rape conviction overturned by top New York court

Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds four entities to Investor Alert List, two being potential clones

EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.

EUPE Corp net profit surges 28.9% in 4Q, driven by strong property sales

US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told Reuters on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.

US growth may get revised up, inflation will ebb

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.

YTL Corp eyeing to extend upside movement, says RHB Retail Research 

RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.

VS Industry poised to continue bullish trajectory, says RHB Retail Research 

The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.

Tesla fires back at investor who doesn’t want pay fight in Texas

Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.

Trump advisers discuss penalties for nations that move away from the dollar

Alphabet announced its first-ever dividend on Thursday and a US$70 billion (RM334.43 billion) stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.

Google parent Alphabet announces first-ever dividend, shares soar

China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence (AI), an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competitor.

China prepares UN resolution to tap AI for good

One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other — Sunday's short trip to arch-rivals Tottenham Hotspur.

Arsenal face derby test with title up for grabs

Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram owner Meta hammered the tech sector, and Japan's yen sank through 155 per dollar for the first time since 1990.

Equities fall amid earnings gloom, as persistent inflation lifts Treasury yields

Foreign states are using UK universities to “steal advantage” by covertly acquiring British intellectual property, the government warned, saying it would explore proposals to protect cutting-edge research and technology.

UK warns universities about research threat from foreign states

The Federal Communications Commission (FCC) said on Thursday it is ordering the US units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the US.

Agency bars Chinese telecom carriers from offering US broadband services

Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

CGSCIMB Research

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

CGSCIMB Research

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌