Rubber glove sector
Maintain overweight: The recent second quarter of calendar year 2019 (2QCY19) results season for glove makers under our coverage came in mixed. The star performer was Kossan Rubber Industries Bhd which recorded a 30% year-on-year growth in net profit, u...

Demand for gloves expected to rise

Syarikat Takaful Malaysia Keluarga Bhd
(Oct 1, RM5.90)
Upgrade to outperform with a lower target price (TP) of RM6.85: Post-meeting, we are assured by Syarikat Takaful Malaysia Keluarga Bhd’s (Takaful) near-term outlook. While top-line growth could be less exciting ...

Takaful seen to stand resilient against potential headwinds

Guan Chong Bhd
(Sept 30, RM3.98)
Trading buy with a fair value (FV) of RM4.85: The tailwind from favourable cocoa prices is the global cocoa supply volume has finally normalised after Ebola-inflicted shortages in 2014. In financial year 2014 (FY14), cocoa commodity ...

Guan Chong seen as beneficiary of diversified, growing global market

George Kent (Malaysia) Bhd
(Sept 27, RM1.05)
Maintain outperform with an unchanged target price (TP) of RM1.15: Recently, we came back from George Kent (Malaysia) Bhd’s briefing feeling reassured with our call and its prospects as management’s focus and outlook rema...

George Kent seen to grow metering unit

Yinson Holdings Bhd
(Sept 26, RM6.70)
Maintain outperform with an unchanged target price (TP) of RM7.75: While there were no operational surprises for the second quarter of financial year 2020 (2QFY20), we deem the results as below expectations given floating produc...

Yinson expected to get 25-year charter job

George Kent (Malaysia) Bhd
(Sept 25, RM1.03)
Upgrade to outperform with an unchanged target price (TP) of RM1.15: George Kent (Malaysia) Bhd’s core net profit (CNP) of RM24.6 million for the first financial half ended July 31, 2019 (1HFY20) made up 41%/40% of our an...

Stronger 2H expected for George Kent

Tenaga Nasional Bhd
(Sept 24, RM13.64)
Maintain market perform with an unchanged target price (TP) of RM13.40: We met up with Tenaga Nasional Bhd’s (TNB) management on Monday to obtain further details of the Malaysia Electricity Supply Industry 2.0 (Mesi 2.0) for wh...

TNB’s earnings certainty seen remaining high

MISC Bhd
(Sept 23, RM7.75)
Upgrade to outperform with a higher target price (TP) of RM8.80: We have upgraded MISC Bhd to “outperform”, with a TP of RM8.80, backed by its stable dividend yield of about 4% — one of the better ones among the FBM KLCI constituents, prov...

MISC seen increasing effort tapping global FPSO market

Telekom Malaysia Bhd
(Sept 19, RM3.52)
Maintain outperform with an unchanged target price (TP) of RM3.95: Telekom Malaysia Bhd’s revenue for its first half of financial year 2019 (1HFY19) declined 4% year-on-year (y-o-y), mainly due to lower voice and Internet deman...

Customer project commissioning could offer revenue support for Telekom

Sime Darby Bhd
(Sept 12, RM2.32)
Maintain market perform with an unchanged target price (TP) of RM2.20: Sime Darby Bhd has announced the acquisition of the business assets and properties of three luxury car dealerships in Sydney, Australia for a consideration of A$1...

Sime Darby seen expanding Australia luxury car dealerships

The Ministry of Energy Transition and Water Transformation (Petra), in collaboration with The National Water Services Commission (SPAN), is poised to establish and devise the framework for implementing transformative measures in the water services sector over the next decade.

Fadillah: Petra, SPAN to drive implementation of transformative measures for water services sector

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

KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.

Critical point failure could’ve led to fatal Lumut chopper crash, says expert

KOTA BHARU (April 23): The man involved in the shooting incident at the Kuala Lumpur International Airport (KLIA) in Sepang on April 14 will be charged in a Kota Bharu court on Wednesday (April 24), according to the police.

KLIA shooting suspect to be charged in Kota Bharu on Wednesday

Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

Sarawak eyeing partnership with UK companies to boost semicon capabilities

Malaysia's education system must be synonymous with the development of the country, said Higher Education Minister Datuk Seri Zambry Abd Kadir.

Zambry: Education system must be synonymous with country’s development

IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.

Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

The M503-3 Maritime Operations Helicopter (HOM) that was involved in a crash Tuesday morning was used for the first time in the flyby for the 90th Royal Malaysian Navy (TLDM) Anniversary parade.

Downed HOM chopper used for the first time in flyby, says defence minister 

BENGALURU (April 23): Gold prices extended losses for a second day to hit a more than two-week low on Tuesday, as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of key US economic data this week.

Gold drifts lower for second day as Middle East fears subside

Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.

Wall Street gains on bright earnings, megacaps' support

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 23)

Moomoo Malaysia, an online trading platform, garnered 100,000 clients within six weeks of its launch, making it one of the most downloaded financial mobile applications in Malaysia.&nbsp;

Moomoo Malaysia surpassed 100,000 clients within six weeks of its debut in Malaysia

While Sapura Energy Bhd has resolved one key condition of its reset plan, analysts did not change their recommendations on the group, as there is still an arduous journey ahead for the group to address its balance sheet position.

Sapura Energy not out of the woods yet as large debts still in its way

KUALA LUMPUR (April 23): Malaysia has emerged as the most significant country within Asean for businesses to venture into, as shown by the UOB Business Outlook Study 2024 (SMEs &amp; Large Enterprises).

Malaysia emerges as prime destination for Asean biz expansion — UOB study

KUALA LUMPUR (April 23): Former Sapura Energy Bhd chief executive officer Tan Sri Shahril Shamsudin has settled his defamation lawsuit against Economics Minister Rafizi Ramli out of court.

Ex-Sapura Energy CEO Shahril settles defamation suit against Rafizi

Swatch Group (M) Sdn Bhd&nbsp;said the seizure of its 172 rainbow-themed watches had caused much grief to its international reputation, as the renowned Swiss watch maker had always been dutiful citizens of any state where the watches were sold.

Swatch says advocating compassion for LGBTQ is not a crime, seizure illegal

Cypark Resources Bhd said on Tuesday that its 100MW Large Scale Solar 3 (LSS3) hybrid solar plant project in Merchang, Terengganu, will transition to full commercial operations by next month.

In a statement, the group said the plant consists of 83MWac (megawatt, alternating current) ground-mounted solar photovoltaics and 32MWac floating solar photovoltaics.

Cypark's LSS3 solar plant in Terengganu set for commercial operations next month

CONSTRUCTION firm GDB Holdings Bhd — which has been embroiled in disputes with KSK Group in the last two years over the development of the 8 Conlay project in Kuala Lumpur — appears to be back on investors’ radar, judging by the recent upward trend in its share price.

According to marke...

GDB Holdings a front runner for several jobs

Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday, thanks to buying from local and foreign institutions, said an analyst.&nbsp;

Bursa ends higher on buying support from local and foreign institutions

Construction and engineering contractor Crest Builder Holdings Bhd said it had secured a condominium project valued at RM486 million in Mont Kiara. &nbsp;

The project, awarded by Kiaramas Development Sdn Bhd, involves the construction of three blocks of condominiums with car park podiums in Jalan Desa Kiara.&nbsp;The contract period is 42 months from May 2, according to Crest Builder in a filing with Bursa Malaysia on Tuesday.

Crest Builder bags RM486m condominium project in Mont Kiara

PETALING JAYA (April 23): Tropicana Corp Bhd is partnering with Maybank Islamic Bhd to provide a home financing solution called Maybank Islamic’s HouzKEY.&nbsp;

Tropicana partners Maybank Islamic to offer HouzKEY home financing solution

Apple's smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020, as its dominance in the high-end segment came under pressure from Huawei's new product launches, market data showed.

Apple's 1Q smartphone shipments in China tumble 19%, data shows

GLOBETRONICS Technology Bhd, an established outsourced semiconductor assembly and test (OSAT) player, is planning to move up the value chain by diversifying into advanced packaging to ride the wave of rising demand for such services.

It also expects advanced packaging to be its future r...

Globetronics to venture into advanced packaging on back of rising demand

The defence in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial will contest the 25 abuse of power and money-laundering charges levelled against former prime minister Datuk Seri Najib Razak.

Shafee: 1MDB-Tanore charges 'all wrong', will mount challenge

Following its demerger from CIMB Group Holdings Bhd, CGS International Securities Malaysia (CGS Malaysia) is aiming for a compound annual growth rate (CAGR) of about 15% to 20% in revenue over the next three to five years.

Following demerger, CGS Malaysia aims for 15%-20% CAGR in revenue over next five years

Malaysia still has the advantages for the “China plus one” (China+1) strategy, despite facing rising competition from its neighbouring countries, according to the Socio-Economic Research Centre (SERC).

Malaysia still front runner for China+1 strategy despite rising competition from regional countries, says SERC

KomarkCorp Bhd, which lost its defamation suit against The Edge Communications Sdn Bhd in the High Court last month, is appealing against the court's decision, which found that the media company had not defamed it in an article about the manipulation of penny stocks that was published nearly three years ago.

KomarkCorp appeals against High Court's ruling that The Edge did not defame the company

KUALA LUMPUR (April 23):&nbsp;The Iskandar Regional Development Authority’s (IRDA) target to achieve&nbsp;cumulative investments of RM636 billion by 2030 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness.

Iskandar Malaysia’s RM636b investment target to help propel country into world's top 30 economies — PM

KUALA LUMPUR (April 23): Grade A prime office spaces continue to be in demand with improving vacancy and rental rates due to the flight to quality trend among tenants, according to JLL (Malaysia), as discussed in its JLL’s 1Q2024 Greater Kuala Lumpur Property Market Monitor launch on Tuesday.&nbsp;

Grade A prime office spaces continue to be in demand — JLL (Malaysia)

The bodies of the 10 victims involved in the mid-air collision and crash involving two helicopters at the Royal Malaysian Navy (RMN) base in Lumut were recovered earlier on Tuesday.

Kenanga Research

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Kenanga Research

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