Yinson Holdings Bhd
(Dec 19, RM6.46)
Maintain buy with an unchanged target price (TP) of RM8.22: For the cumulative nine months ended Oct 31, 2019 (9MFY20), Yinson Holdings Bhd’s results were deemed within expectations in view of a stronger fourth quarter (4QFY20) l...

Stronger 4Q expected for Yinson

Comfort Gloves Bhd
(Dec 17, 76 sen)
Maintain buy with an unchanged target price (TP) of RM1.08: We reiterate “buy” and our TP of RM1.08, with a 45% expected total return on forecast financial year ending Jan 31, 2021 (FY21F) price-earnings ratio (PER) of 18 times. O...

Better earnings ahead expected for Comfort Gloves

Malaysia Airports Holdings Bhd
(Dec 13, RM7.55)
Maintain buy with an unchanged target price (TP) of RM9.25: The Edge Financial Daily, quoting a statement from the ministry of transport (MoT), reported that the cabinet has met and agreed to rationalise the supervisin...

Strong FY20 earnings growth expected for MAHB

Cahya Mata Sarawak Bhd
(Dec 10, RM2.41)
Maintain buy with a lower target price (TP) of RM2.83: Cahya Mata Sarawak Bhd’s (CMS) winning a 3,301km state road maintenance contract for 10 years should boost near-term sentiments on the stock. We believe the tender to main...

CMS earnings could see upside from new contract win 

Luxchem Corp Bhd
(Dec 9, 48 sen)
Maintain buy with an unchanged target price (TP) of 59 sen: Recall that Luxchem Corp Bhd is building a new warehouse on a piece of reclaimed land in Pulau Indah with a capital expenditure (capex) of RM17 million allocated — entirely ...

Margins for Luxchem’s trading segment expected to normalise in FY20

Ta Ann Holdings Bhd
(Dec 6, RM3.20)
Maintain buy with a higher target price (TP) of RM3.60: After revising forecasts post-stock coverage reallocation, we cut our financial years 2019 to 2020 (FY19F-20F) earnings forecast by 21.8% to 12.6%. Ta Ann Holdings Bhd’s expo...

Ta Ann’s FY20 CPO production expected to be higher

Astro Malaysia Holdings Bhd
(Dec 5, RM1.34)
Maintain buy with a higher target price of RM1.93: Astro Malaysia Holdings Bhd’s cumulative nine months of the financial year ending Jan 31, 2020 (9MFY20) results trumped our and consensus expectations due to larger-than-e...

Astro 9M results above expectations on opex efficiencies

Genting Bhd
(Nov 29, RM5.83)
Maintain buy with a higher target price of RM8.70: Genting Bhd’s nine months of financial year 2019 (9MFY19) core profit of RM1.8 billion was above our and the street’s estimates at 78% and 80% respectively. The deviation is due to stron...

Genting’s Resorts World Las Vegas seen progressing as planned

Hong Leong Bank Bhd
(Nov 28, RM17.28)
Maintain buy with a higher target price of RM19.20: Hong Leong Bank Bhd (HLB) delivered healthy first quarter of financial year 2020 (1QFY20) earnings that met expectations. The key standouts were its strong net interest income ...

Hong Leong Bank 1QFY20 earnings meet expectations

Leong Hup International Bhd
(Nov 27, 86 sen)
Maintain buy with a lower target price (TP) of RM1.26: Leong Hup International Bhd’s (LHI) cumulative nine months of financial year 2019 (9MFY19) core net profit of RM124.9 million, down 23.5% year-on-year (y-o-y), traile...

Leong Hup 4Q earnings likely to sustain positive momentum

KUALA LUMPUR (April 25): RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.

In a trading stocks note on Thursday, the research house said that as such, the bullish momentum ma...

NationGate is observing a technical breakout, says RHB Retail Research 

KUALA LUMPUR (April 25): RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.

In a trading stocks note on Thursday, the research house said that coupled with strong trading volume, it expects the sto...

Naim Holdings likely to resume its uptrend, says RHB Retail Research 

(April 25): Binance co-founder Changpeng Zhao is facing up to three years in prison, if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.

Totaling...

Friends, family, royalty seek mercy for crypto’s richest man

(April 25): A disappointing earnings report from Meta Platforms Inc. has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.

Shares of Facebook’s parent were down as much as 19% in after-hours trading and...

Meta’s miss sparks fear in tech world with big earnings looming

(April 25): Russia vetoed a United Nations Security Council resolution that would have reaffirmed a global commitment against deploying nuclear weapons in space, rebuffing US efforts to shine a spotlight on Moscow’s reported plans to do so.

The resolution underscored that countries are ...

Russia blocks US bid to reaffirm nuclear-arms ban in space

NEW YORK (April 25): Benchmark S&P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.

An auction of a record $70 billion worth of five-year U.S. Treasury notes on We...

S&P 500 ends higher as markets weigh rising yields, upbeat corporate results

WOLVERHAMPTON, England (April 25): Bournemouth snapped a three-game winless run in the Premier League with a 1-0 victory at former manager Gary O'Neil's Wolverhampton Wanderers on Wednesday courtesy of a first-half strike from Antoine Semenyo.

The win moved Bournemouth up to 10th place ...

Bournemouth back to winning ways with 1-0 victory over Wolves

LONDON (April 25): Crystal Palace made absolutely sure of Premier League safety with an impressive 2-0 home defeat of Newcastle United on Wednesday with both goals scored by Jean-Philippe Mateta.

It was a well-deserved win for the hosts while Newcastle's European hopes were dealt a blow...

Mateta double fires Palace to win over Newcastle

CAIRO/JERUSALEM (April 25): Israeli warplanes pounded the northern Gaza strip for a second day on Wednesday in a fierce assault that has shattered weeks of comparative calm, and Israel said it was moving forward with plans for an all-out assault on Rafah in the south.

After an abrupt Is...

Israel says Rafah assault looms; massive Gaza airstrikes end weeks of relative calm

MANCHESTER (April 25): Manchester United captain Bruno Fernandes came to his side's rescue with two goals in a 4-2 home victory over the Premier League's bottom club Sheffield United on Wednesday just when more trouble loomed for beleaguered manager Erik ten Hag.

Twice United trailed ag...

Fernandes digs Man Utd out of hole in win over Sheff Utd

The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.

Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co, the world’s largest nickel and stainless steelmaker, agreed to buy the 2,612 sq m (28,111 sq ft) house in the country’s Bin Tong Park enclave, according to a property record seen by Bloomberg News.

Chinese metal tycoon’s heir buys US$62m Singapore mansion

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

KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

KUALA LUMPUR (April 24): Construction outfit Fajarbaru Builder Group Bhd has bagged a RM252.26 million contract from WCT Holdings Bhd to undertake Phase 1 of a two-phase development of two blocks of serviced apartments in Johor Bahru.

Fajarbaru Builder bags RM252m construction job in Johor Bahru from WCT

Hibiscus Petroleum Bhd said it has completed the drilling of the Bunga Aster-1 exploration well and is expecting its first oil production to begin in May.

Hibiscus Petroleum completes drilling at Bunga Aster-1 well, first oil production set for next month

(April 25): A disappointing earnings report from Meta Platforms Inc. has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.

Shares of Facebook’s parent were down as much as 19% in after-hours trading and...

Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.

Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

KUALA LUMPUR (April 24): Suria Capital Holdings Bhd’s wholly owned Sabah Ports Sdn Bhd has roped in DP World, an Emirati multinational logistics company based in Dubai, to manage Sapangar Bay Container Port (SBCP), in a bid to cement the port’s position as a regional trade hub for the East Asean growth area spanning Brunei, Indonesia, Malaysia and the Philippines (BIMP-EAGA).

Suria Capital’s Sabah Ports ropes in Dubai’s DP World to manage Sapangar Bay Container Port

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E...

EVENING 5: Five things you need to know today

The yen fell on Wednesday to its weakest levels against the dollar since 1990, with markets alert to any signs of intervention from the Japanese authorities to prop up their currency.

Japan's yen hits 155 per dollar, weakest since 1990

The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.

High Court bins Musang King farmers’ bid to challenge land eviction notice in Pahang

The prosecution succeeded in its appeal at the Federal Court on Wednesday to forfeit RM1,112,700 from 79 investors involved in an illegal deposit-taking scheme.

Apex court allows forfeiture of RM1.11m belonging to investors of illegal deposit-taking scheme

US President Joe Biden’s recent polling bump in key battleground states has mostly evaporated, as a deep current of pessimism about the trajectory of the US economy hurts his standing with voters.

Biden trails Trump in six of seven key states, poll shows

TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.

TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

KUALA LUMPUR (April 24): Sapura Industrial Bhd plans to collaborate with Mili Tech Sdn Bhd on feasibility studies for electrified vehicle (EV) products and potentially establish a joint venture (JV) business in Malaysia.

Sapura Industrial inks MOU with Mili Tech for feasibility studies on EVs

CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions.

CLMT’s 1Q net property income jumps 63% to RM64m, DPU up 37%

NEW YORK (April 25): Benchmark S&amp;P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.

An auction of a record $70 billion worth of five-year U.S. Treasury notes on We...

The strategic collaboration between Sabah Ports Sdn Bhd (SPSB) and DP World, a global port terminal operator, will be a boon to Sabah’s aspiration to promote the Sepangar Bay Container Port (SBCP) as a key transshipment hub in the region, said Chief Minister Datuk Seri Hajiji Noor.

Hajiji: Tie-up between Sabah Ports, DP World to boost state’s aim to become transshipment hub

(April 25): Binance co-founder Changpeng Zhao is facing up to three years in prison, if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.

Totaling...

KOTA KINABALU (April 24): The Sabah government has a deficit of almost RM1 billion to carry out road repairs and maintenance works in the state, the state assembly sitting was told on Wednesday.

Sabah govt has a deficit of almost RM1b for road repairs, maintenance

Cocoa resumed gains in New York, with prices the most volatile in almost five decades amid uncertainty over a historic crunch and as traders pull out of the market.

RHB Research Institute

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