Inari Amertron Bhd
(March 9, RM1.29) 
Maintain hold with a lower target price of RM1.55: Inari Amertron Bhd’s plans to utilise its P34 plant remain, although a volume ramp-up for its German customer is still low as a restructuring continues to cause delays in t...

5G commercialisation seen a catalyst for Inari Amertron’s radio frequency segment

Serba Dinamik Holdings Bhd
(March 5, RM2.25)
Maintain a buy with a diluted target price of RM2.65: Serba Dinamik Holdings Bhd’s order book increased to RM10.7 billion as of Feb 20, split between operations and maintenance (O&M) — RM7.1 billion and engineering, p...

Serba Dinamik’s gearing seen having a comfortable limit

Tenaga Nasional Bhd
(March 4, RM12.58)
Upgrade to buy with a lower target price of RM14.50: For the fourth quarter of financial year 2019 (4QFY19), Tenaga Nasional Bhd’s (TNB) core net profit fell to RM939 million on the back of unplanned outages and higher staff co...

TNB seen to strike for active capital management

Banking sector
Retain market weight: Loan growth remained weak at below our expectation of 4% for 2019. With the sector’s sentiment likely to be capped by the ongoing Wuhan virus, we retain our “market weight” call on the sector. On a brighter note, asset quality is holdin...

Banking sector’s asset quality holding up stronger than expected

Scientex Bhd
(Jan 22, RM9.23)
Maintain buy with an unchanged target price (TP) of RM10.67: The 7% retracement of Scientex Bhd share price from the recent peak provides an excellent opportunity to accumulate. Market conditions remain favourable for Scientex to beat c...

Strong management, good track record seen in Scientex

Plantation sector
Maintain market weight: As of Oct 16, 2019, crude palm oil (CPO) spot and three-month futures prices were at RM2,115 and RM2,201, recovering from the lows of RM1,976 and RM2,013 respectively in Aug 19. The lower-than-expected production in the third quart...

CPO exports seen further boosted by lower export duty

Genting Malaysia Bhd
(Oct 7, RM3.05)
Maintain hold with a higher target price of RM3.16: Empire Resorts Inc’s recent filing of a proxy statement on its merger exercise revealed positive forward-looking financial projections and justification for Genting Malaysia Bhd...

Fair valuation range seen for Genting Malaysia’s price tag for Empire

Kerjaya Prospek Group Bhd
(Oct 3, RM1.29)
Maintain buy with a target price (TP) of RM1.64: Kerjaya Prospek Group Bhd has secured a contract from Bintang Holdings Sdn Bhd, a member of the Low Yat Group, worth RM23 million to undertake construction of a basement and e...

Stable demand seen for Kerjaya Prospek’s property building jobs

Affin Bank Bhd
(Sept 6, RM2.04)
Maintain hold with an unchanged target price (TP) of RM2.20: Bloomberg has reported that AXA Insurance and Affin Bank Bhd are mulling the possibility of disposing of their insurance joint venture (JV) — AXA Affin Insurance. Affin Bank...

Possible insurance JV disposal seen having neutral impact on Affin Bank

Construction sector
Maintain market weight: The New Straits Times has reported that the government is planning to acquire 15 highways nationwide for RM43 billion via issuing debt to the concessionaires. Sources claimed the 15 highways will be acquired by a special-purpose ...

Proposed takeover of highways deemed fair by market

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

Wall Street rises as Big Tech charges higher

In today’s edition of Evening 5: 00:00 Merger of airlines enough to reverse negative equity - Fernandes 02:16 Govt set to unveil second 5G network next week  03:26 Unisem’s 1Q hit by margins, forex 04:30 Berjaya Corp denies Forest City casino talks   05:30 Homeritz’s 2Q earnings spike on stronger greenback

EVENING 5: Merger of airlines enough to reverse negative equity - Fernandes

A weekly round-up of tanker and dry bulk market (April 26, 2024)

Baltic Exchange shipping updates: April 26, 2024

WASHINGTON (April 26): Ukrainian President Volodymyr Zelenskiy called on Friday for additional air defence systems to be sent to Kyiv to help protect against Russian strikes, adding that a pause in US funding had helped Moscow seize the initiative.

Ukraine's Zelenskiy calls for air defence systems as allies meet

KNM Group Bhd said it is seeking court sanction for a new scheme of arrangement with its creditors. The PN17 group is also seeking a further extension of time to submit its regularisation plan.

KNM seeks fresh scheme of arrangement with creditors

The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering & Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

EPF emerges as second largest shareholder of Sam Engineering

US equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for rate cuts this year.

US equity funds see fourth straight week of outflows amid rate cut reassessment

HULU SELANGOR (April 28): The Ministry of Health (MOH) stands by its decision to amend the Medical Act 1971 (Act 50) to bridge the gap between the parallel pathway programme (PPP) and the local medical degree programme, despite objections from some parties.

Health Ministry stands by decision to amend Medical Act 1971

US monthly inflation rose moderately in March, but stubbornly higher housing and transportation costs suggested the Federal Reserve could keep interest rates elevated for a while.

US inflation rises in line with expectations; consumer spending strong

The country’s fifth-generation (5G) network adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.

Fahmi: 5G adoption rate almost 36%, coverage 80.3%, second network unveiling next week

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

The Inland Revenue Board (IRB) on Friday announced that the deadline for taxpayers to submit Form E and CP8D has been extended to May 31.

Deadline to submit Form E, CP8D extended to May 31, says IRB

Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.

Berjaya Corp denies participation in talks to revive Forest City casino resort

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

Analysts believe Capital A Bhd's proposed restructuring plan will help the group exit the Practice Note 17 (PN17) status and enhance its competitiveness, as well as provide benefits to AirAsia X Bhd's (AAX) shareholders in terms of free warrants and improved company valuation post restructuring.

Analysts positive restructuring plan will uplift Capital A's PN17 status, benefit AirAsia X shareholders

The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.

Merger of airlines alone enough to reverse all of Capital A's negative equity, says Fernandes

Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.

Mohan Swami, partner agree to buy 58% of Turiya for RM52.86m from MAA Group

Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.

Asia’s richest banker loses US$1.2 bil after RBI ban

Malayan Banking Bhd (Maybank) has obtained a summary judgement at the High Court here against ACE Credit (M) Sdn Bhd, ACE Corporation (M) Sdn Bhd, and the company directors Datuk Choong Chee Meng and Chang Ai Nee, for defaulting on a RM46.47 million loan given to them by the bank.

Maybank obtains summary judgement against ACE Corporation, three others for RM46m loan default

Shares in ViTrox Corp Bhd fell to their lowest in a month, as first-quarter results disappointed investors, while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

ViTrox fell as much as 6% before ending the day at RM7.40, its lowest since March 26, 2024. The stock was still down a little under 3% at the closing bell after 5.29 million shares changed hands. In contrast, the country’s benchmark index FBM KLCI was 0.4% higher.

ViTrox slips to one-month low as 1Q disappoints, analysts raise caution

KUALA LUMPUR (April 26): Gamuda Land, the property arm of Gamuda Bhd, has unveiled partners for Gardens Square, the latest commercial development at the 810-acre Gamuda Gardens in Sungai Buloh.

Gamuda Land announces retail partners for upcoming commercial development in Gamuda Gardens

Prime Minister Datuk Seri Anwar Ibrahim on Friday suggested all parties mentioned in a recent report&nbsp;alleging that the government is planning to issue&nbsp;a licence for a casino in&nbsp;Forest City, Johor, to take necessary action&nbsp;against the foreign news agency.

Anwar wants action taken against Forest City casino licence news report

The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering &amp; Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

The country’s&nbsp;fifth-generation (5G) network&nbsp;adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.

Nestle (Malaysia) Bhd is slated to raise prices for 22 of its products starting July 1, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).

Nestle Malaysia to adjust prices of 22 products starting July 1

Shares of AirAsia X Bhd (AAX) rose to a six-month high as investors cheered a restructuring plan that would make the company the largest low-cost carrier in Southeast Asia.

AirAsia X logs best day in six months on Capital A restructuring

YNH Property Bhd (YNH) issued a clarification to bondholders via Malaysian Trustee Bhd on the technical default of its Islamic notes, as well as the status of its mall sale and the appointment of a new auditor.

YNH says it has remedied 'technical default' involving sukuk programme

MYAirline Sdn Bhd will continue to retain its nominated post holders as well as key personnel, while ensuring that its air operator’s certificate (AOC) documentation remains as current as possible.

MYAirline seeking multiple investors, to retain nominated post holders

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

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.

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