AWC Bhd
(Jan 11, 63.5 sen)
Maintain add with an unchanged target price (TP) of RM1.26: AWC Bhd has announced that its environmental division, STREAM, has been awarded a subcontract with a value of RM25.9 million.

 

This contract is to provid...

AWC unit’s subcontract win deemed positive, giving healthy order book

Gamuda Bhd
(Jan 10, RM2.79)
Maintain reduce at an upgraded target price (TP) of RM2.45. Gamuda surged 12% yesterday (+20% year to date). We attribute this to the recovery of sentiment on the overall construction sector, which appears to be triggered by recent news o...

KVDT2 retendering, possible ECRL revival seen positive for Gamuda

Property sector
Maintain neutral: Our analysis shows that the Medium 40% (M40) and Bottom 40% (B40) households face difficulty in buying properties as the average house price is above both groups’ affordability range. Despite government incentives and policies to address t...

Housing market likely to remain challenging

Unisem (M) Bhd
(Jan 8, RM3.17)
Downgrade to hold with an unchanged target price (TP) of RM3.30: As at the offer closing date on Jan 7, 2019, the joint offerors owned 604.5 million Unisem (M) Bhd shares, representing 83.13% of the issued share capital of Unisem versu...

Unisem could benefit from having local partner in China

Genting Malaysia Bhd
(Jan 7, RM3.11)
Maintain hold with an unchanged target price (TP) of RM3.25: We hosted Genting Malaysia Bhd’s management at our annual Malaysia Corporate Day last Friday, where they met almost 40 fund managers and buy-side analysts. Management w...

Genting Malaysia expected to look at cost-cutting initiatives

Cypark Resources Bhd
(Dec 19, RM1.62)
Maintain add with an unchanged target price (TP) of RM1.80: Cypark Resources Bhd’s (Cypark) one-for-two bonus issue went ex on Tuesday.

The bonus issue raises Cypark’s share capital from 299.8 million shares to 458 mil...

Cypark poised to benefit from a favourable industry outlook

Gamuda Bhd
(Dec 17, RM2.22)
Maintain reduce with a lower target price (TP) of RM2.12: Gamuda Bhd’s first financial quarter ended Oct 31, 2018 (1QFY19) core net profit of RM226.2 million made up 28 to 29% of the consensus and our full-year forecasts.

We dee...

Gamuda eyes rail jobs in S’pore, Australia, Vietnam and Taiwan

Bermaz Auto Bhd
(Dec 13, RM2.15)
Upgrade to add with a higher target price (TP) of RM2.65: Revenue in the second quarter of financial year 2019 (2QFY19) rose 42% quarter-on-quarter to RM690.3 million, mainly due to higher sales volume in Malaysia, surging 152% from ...

BAuto order backlog seen to drive sales volume in 2HFY19

KESM Industries Bhd
(Dec 12, RM8.28)
Maintain hold at a target price (TP) of RM9:  We expect weak demand in KESM Industries Bhd’s second quarter of financial year 2019 forecast (2QFY19F) due to ongoing inventory adjustment from its customers, but expect stronge...

KESM cautiously optimistic about a stronger 2HFY19

Prestariang Bhd
(Dec 11, 29 sen)
Downgrade to reduce with a lower target price (TP) of 26 sen: The home minister announced that the cabinet has agreed to scrap the national immigration control system (SKIN) project, in which Prestariang Bhd holds a 70% stake. This i...

Prestariang seen left with two businesses without SKIN project

Sarawak Cable Bhd (KL:SCABLE) has to go back to the drawing board and look for a new white knight to regularise its financials.

The Practice Note 17 (PN17) company announced that the Memorandum of Agreement it entered with Serendib Capital Ltd has fallen through.

Sarawak Cable needs a new white knight as 'resuscitation exercise' falls through

Paragon Globe Bhd (KL:PGLOBE) is selling part of a parcel of freehold land it had just acquired in the district of Plentong, Johor Bahru, for RM238.32 million to improve its liquidity and financial position.

Paragon Globe to sell part of JB land it just bought for RM238 mil

In today’s edition of Evening 5: 00:00 Top 100 stocks add RM175 bil to market cap 01:54 Axiata, Sinar Mas seeking permission for merger from Indonesian govt 03:09 Record earnings push MNRB to record highs 04:26 Finance costs weigh on Sentral REIT 06:03 Go Hub Capital gets nod for ACE Market listing

EVENING 5: Malaysia’s top 100 stocks add RM175 bil to market cap

EVENING 5: Five things you need to know today

Communication Minister Fahmi Fadzil has stressed that the police investigation into the news report about the proposed casino development in Forest City, Johor, was not initiated by the government but resulted from a police report lodged by a law firm representing a company mentioned in the article.

Govt had nothing to do with police probe into Forest City casino issue — Fahmi

The Home Ministry (KDN) has inked 14 contracts with local companies valued at RM2.156 billion in conjunction with the Defence Services Asia (DSA) Exhibition & Conference 2024 and National Security (NATSEC) Asia 2024.

Home Minister Datuk Seri Saifuddin Nasution Ismail said the signing of the contracts is symbolic of the ministry’s continuous efforts for agencies under its purview.

Home Ministry signs 14 contracts with local companies worth over RM2 bil

SINGAPORE (May 8): Local telco operators StarHub and M1 are said to be back to exploring a potential merger of their businesses, according to TMT Finance, citing five sources familiar with the matter.

StarHub, M1 potential merger said to be back on — TMT Finance

The Transport Ministry (MOT) does not reject any strategic partnerships with private parties to provide services for its agencies, but such partnerships needed to be done properly and required official approval.

Its minister, Anthony Loke said the ministry did not want any company to launch or announce any services for government departments suddenly without the knowledge of the ministry itself.

Loke tells BJAK to submit official application for strategic partnership with MOT, JPJ

Intel Corp expects second-quarter revenue to fall below the midpoint of previously issued projections because of a new US ban on chip exports to Huawei Technologies Co.

Intel sees revenue falling below midpoint on US Huawei ban

The Construction Industry Development Board Malaysia (CIDB) has identified several potential collaboration areas in Australia's mining and energy sectors including Technical and Vocational Education and Training (TVET) programmes and labour supply.

CIDB receives significant interest from Australian construction landscape

Former prime minister Tan Sri Muhyiddin Yassin has been granted a temporary release of his passport to visit a sick family member in Australia.

Sessions Court judge Azura Alwi allowed the Bersatu chief's application and ordered the travel document to be released on Wednesday and for it to be returned to the court on May 28.

Muhyiddin gets temporary release of passport to visit sick family member abroad

Shares in low-cost aviation operators Capital A Bhd (KL:CAPITALA) and AirAsia X Bhd (KL:AAX) rose in early trade on Wednesday, tracking gains at the broader market.

Capital A and AAX active, advance in post-merger trade

Shares in Sime Darby Plantation Bhd [KL: SIMEPLT] rose to their highest in two years following its announcement to develop the Tali Ayer estate in Perak into a green industrial park.

Sime Darby Plantation shares surge to two-year high following proposed solar project in Perak

Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore, Asia's main oil hub, to a joint venture between Indonesian chemicals firm Chandra Asri and Swiss miner and commodities trader Glencore.

Shell to sell Singapore refinery, petchem assets to Chandra Asri and Glencore

Interim liquidators appointed by the Shah Alam High Court pursuant to a petition by Hitachi Ltd to look into the affairs of its wholly-owned Fusiotech Holdings Sdn Bhd are investigating claims of potential diversion of business by Fusionex Malaysia to third parties.

Fusionex liquidators probing alleged diversion of business to third parties

Homegrown information and communications technology (ICT) distributor Vstecs Bhd’s (KL: VSTECS) wholly-owned subsidiary, Vstecs Ku Sdn Bhd, has been picked as Amazon Web Services' (AWS) first distributor in Malaysia.

Amazon Web Services picks Vstecs as first distributor in Malaysia

KUALA LUMPUR (May 8): Petronas Dagangan Bhd (KL:PETDAG) faces a threat from Saudi Aramco’s possible entry into Malaysia’s fuel retailing market, on top of the impending withdrawal of fuel subsidies, CGS International warned.

Petronas Dagangan faces twin share de-rating threats — CGS

Malaysia’s largest 100 companies added RM175.33 billion to their market value since the start of the year as optimism for a US Federal Reserve rate cut fuelled a broad rally in sectors ranging from technology to utilities.

RM175 bil poured into Malaysia's top 100 stocks since start of 2024, more seen coming

KUALA LUMPUR (May 8): Insurer and reinsurer MNRB Holdings Bhd’s (KL:MNRB) net profit more than doubled year-on-year (y-o-y) in the fourth quarter, thanks to lower insurance expenses and higher investment income, sending its shares surging to an all-time high.

MNRB logs record profits from lower insurance expenses, higher investment income

China has extended the visa-free policy for short-term visits to China for Malaysia and 11 other countries until the end of 2025, Xinhua reported, citing Chinese Foreign Ministry spokesperson Lin Jian.

China extends visa-free travel policy for Malaysia until end of 2025

Offshore drilling firm Velesto Energy Bhd (KL:VELESTO) is expected to report that its net profit may more than tripled in the first quarter (1Q) from a year earlier with all of its rigs utilised, Maybank Investment Bank said.

Velesto may report strong 1Q results with rigs fully occupied — Maybank IB

The US has revoked licences that allowed companies including Intel and Qualcomm to ship chips used for laptops and handsets to sanctioned Chinese telecoms equipment maker Huawei Technologies, three people familiar with the matter said.

US revokes Intel, Qualcomm's export licences to sell to China's Huawei — Reuters

Communications Minister Fahmi Fadzil said the government is prepared to engage with the US counterparts to understand the details regarding possible sanctions against Malaysian companies.

Govt prepared to engage with US counterparts over possible sanctions — Fahmi

Shares of Bursa Malaysia Bhd (KL:BURSA) extended gains to its highest since March 2021, following news that Malaysian stocks trading in its exchange hit a historical high of RM2 trillion in market capitalisation on Tuesday (May 7).

Bursa Malaysia shares hit fresh three-year high as local equities breach RM2 trillion market cap

MNRB Holdings Bhd (KL:MNRB) was Bursa Malaysia’s biggest gainer on Wednesday, after the insurer and reinsurer announced record quarterly and annual net profit for the financial year ended March 31, 2024 (FY2024).

MNRB makes biggest single-day jump after record FY2024 earnings

SYDNEY/HONG KONG/SINGAPORE (May 8): Global private equity investors and asset managers are readying for billions of dollars worth of mergers and acquisitions (M&amp;As) and investments linked to data centres in the Asia Pacific, as the artificial intelligence (AI) boom fuels demand for digital infrastructure.

AI boom set to fuel data centre deals in Asia this year

A Singapore Air Force F-16 jet crashed during takeoff at a military airbase, the Ministry of Defence said on Wednesday.

Singapore Air Force F-16 fighter jet crashes after takeoff

Shares of CTOS Digital Bhd (KL:CTOS) tested their highest in nearly two months as analysts flagged a pickup in earnings ahead&nbsp;following the seasonally weaker first-quarter results.

CTOS Digital shares back away two-month high 

The former director and chairman of the board of SRC International Sdn Bhd has slammed Datuk Seri Najib Razak for passing the blame to the board for the misappropriation of RM3.6 billion from the company, saying the accusation was nothing more than an afterthought and without basis.

Former SRC director slams Najib for blaming SRC board for misappropriation of RM3.6b, says his accusation a baseless afterthought

KUALA LUMPUR (May 8): Go Hub Capital Bhd (KL:GOHUB), a provider of information technology (IT) services catering to the transportation sector, said on Wednesday that it has received approval for its listing on the ACE Market of Bursa Malaysia.&nbsp;

CGSCIMB Research

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