CGS-CIMB Research has maintained its "Hold" call on Bursa Malaysia Bhd with an unchanged target price of RM6.20, given the cautious outlook for the equity market in 2020.

Bursa 4Q19 earnings likely driven by expected higher equity, derivative income

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) said CIMB Bank Bhd and CIMB Islamic Bank Bhd (collectively CIMB) had joined its vendor financing programme (VFP) as the ninth panel bank.

The collaboration was marked by a memorandum of understanding (MoU) exchange ceremony yesterday, Petr...

CIMB joins Petronas’ vendor financing programme as panel bank

KUALA LUMPUR (Jan 20): Petroliam Nasional Bhd (PETRONAS) announced today that CIMB Bank Bhd and CIMB Islamic Bank Bhd (collectively CIMB) have joined its Vendor Financing Programme (VFP) as the 9th panel bank.

The three entities' collaboration was marked by a memorandum of understanding exchange ceremony held today, Petronas announced in a statement. The VFP is to offer financing solutions to small and medium enterprise vendors in the oil and gas service equipment sector, to grow their business and reach their full potential.

CIMB joins Petronas' vendor financing programme as panel bank

The cabinet's decision to retain the ownership of PLUS Malaysia Bhd is a positive for Gamuda Bhd, as this will be seen as consistent with the government's previously announced plan to take over the four highways held by Gamuda, said Kenanga Investment Bank Bhd Research.

Govt's decision to retain ownership of PLUS a positive for Gamuda — Kenanga Research

MRCB-Quill REIT's (MQREIT) fourth quarter net loss stood at RM24.38 million versus a net profit of RM8.05 million a year earlier, as it registered lower gross revenue and net property income besides a RM36.73 million fair value loss for its investment properties across the Klang Valley and Penang.

MRCB-Quill REIT 4Q net loss at RM24m, plans 3.37 sen distribution

Kejuruteraan Asastera Bhd (KAB) shares jumped 12 sen or 8.11% to RM1.60 in morning trades today after the group proposed a 2-to-5 share split.

Kejuruteraan Asastera jumps 8% on share split plan

KUALA LUMPUR: The Institute for Democracy and Economic Affairs (IDEAS) supports the cabinet’s decision to not sell PLUS Malaysia Bhd.

In a statement yesterday, the think tank said it believes the announcement will put a stop to speculations surrounding the country’s biggest highway conc...

IDEAS supports no-sell decision on PLUS, calls for divestment policy

The Institute for Democracy and Economic Affairs (IDEAS) supports the Cabinet's decision to not sell Projek Lebuhraya Utara-Selatan (PLUS) Malaysia Bhd.

In a statement today, the think tank said it believes that the announcement will put a stop to speculations surrounding the country's biggest highway concessionaire.

IDEAS supports Cabinet decision to not sell PLUS, calls for divestment policy

Affin Hwang Investment Bank Bhd has maintained its "Hold" call on Globetronics Technology Bhd at RM2.40 with a higher target price of RM2.52 (previously RM2.10) based on higher target price-earnings multiple of 24 times on 2020E earnings per share (EPS).

Affin Hwang raises target price for Globetronics to RM2.52

Affin Hwang Investment Bank Bhd has downgraded Syarikat Takaful Malaysia Keluarga Bhd (STMK) to "hold" from "buy" with a lower target price (TP) of RM5.80 from RM7.80 previously.

Affin Hwang downgrades Syarikat Takaful Malaysia to hold, lowers target price to RM5.80

Govt to announce second 5G network next week, coverage now at 80.3%, says Fahmi

The government’s move to introduce a pilot phase of the progressive wage policy is the right approach towards achieving the intended target to boost labour productivity growth in Malaysia, according to a World Bank economist.

Progressive wage policy right approach to boost growth in Malaysia's labour productivity — World Bank economist 

Hong Kong home prices rose for the first time in almost a year in March as the city’s removal of property curbs revived sales.

Hong Kong home prices rise for first time in 11 months after curbs scrapped

Kiribati's parliament has voted to remove Australian-born High Court Judge David Lambourne, who said on Friday the move was politically motivated and an attack on the independence of the Pacific Island nation's judiciary.

Kiribati parliament votes to remove Australian-born high court judge

Decarbonization Partners, a joint venture (JV) between BlackRock and Temasek, has announced the final close of US$1.40 billion (S$1.90 billion or RM6.69 billion) for its inaugural late-stage venture capital and growth private equity investment fund.

Temasek-BlackRock JV Decarbonization Partners raises US$1.4b for inaugural fund

Escalating tensions in the Middle East and risk of a delayed easing in global interest rates could threaten Singapore’s economic rebound this year, according to the central bank’s latest review.

Singapore’s path to faster economic growth is riddled with risks

The Bank of Japan (BOJ) kept interest rates around zero on Friday and issued fresh estimates projecting inflation to stay near its 2% target in the next three years, signalling its readiness to hike borrowing costs later this year.

BOJ keeps ultra-low rates, projects inflation near 2% for years

The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.

World’s billionaires should pay minimum 2% wealth tax, say G20 ministers

Chinese vehicle manufacturer Chery's Jaecoo marked the debut of its J7 PHEV and J8 PHEV from its new energy family at the 2024 Beijing International Automotive Exhibition.

Jaecoo marks debut of J7 PHEV, J8 PHEV at 2024 Beijing auto show

Singapore home prices grew at a slower pace last quarter and rents fell, as the city-state’s property boom began to lose steam.

Singapore home price growth slows, rents decline as market cools

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

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

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

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

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

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

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 

Maxis Bhd could work with another consortium partner to lower the cost of deploying the second 5G network, even after the recapitalisation of Digital Nasional Bhd (DNB), said RHB Research in a note on Friday.

Maxis could lead second 5G network roll-out with new consortium partner, says RHB 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 

Analysts are positive that Capital A Bhd's proposed restructuring plan to streamline its aviation segments will help it exit the Practice Note 17 (PN17) status and enhance its competitive stance against established full-service carriers.

Analysts positive on Capital A's restructuring plan to get it out of PN17

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

European and American investors showed converse interest in sustainable funds during the first quarter, research firm Morningstar said on Thursday, with a record US$8.8 billion (RM42.03 billion) in net withdrawals from the products in the US.

Record US$8.8 bil pulled from US sustainable funds in 1Q

The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that car buyers in other markets have never seen.

China’s upstart electric brands, and even its state-owned, legacy automakers, are racing to pack technology and features once considered premium into electric vehicles (EVs) as cheap as US$20,000 (RM95,525) — less than half the cost of an average new car in the US, now more than US$48,000.

Battle for 'tech luxury' in China as EVs get smarter — and cheaper

Asian shares rose cautiously on Friday as markets sobered up to the idea that US rate cuts were most likely some time away, while the yen and Japanese government bonds struggled ahead of a closely watched policy decision by the Bank of Japan (BOJ).

Asia stocks, yen tentative with eyes on BOJ decision

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

The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.

The Malaysian Research Accelerator for Technology and Innovation (MRANTI) has signed a memorandum of understanding (MOU) with Beijing Zhongguancun Science City Innovation Development Co Ltd to collaborate on several strategic initiatives aimed at fostering significant advancements in technology and innovation.

MRANTI inks deal with Beijing Zhongguancun Science City to explore strategic collaboration areas

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

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

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.

Nazuin Zulaikha Kamarulzaman

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