Shares of Kejuruteraan Asastera Bhd (KAB) surged 17% today after it announced its expansion strategy into the solar energy industry.

At 2:50pm, KAB's share price rose 11 sen to RM1.33 with some 2.15 million shares traded, valuing it at RM492.41 million.

KAB up 17% after announcing solar energy expansion strategy

KUALA LUMPUR: LBS Bina Group Bhd expects to be able to sustain its property sales at RM1.6 billion this year, little changed from the RM1.63 billion it achieved in 2019, despite forecasts of continued moderation in housing sentiment.

This will be maintained by the group’s continued focu...

LBS Bina expects to sustain RM1.6b worth of sales in 2020

AmInvestment Bank Bhd Research has maintained its "neutral" recommendation on the automobile sector with a projection of 1.1% total industry volume (TIV) growth to 610,000 units for 2020.

AmInvestment keeps 'neutral' call on automobile sector, projects 1.1% TIV growth for 2020

LBS Bina Group Bhd sets its 2020 new property sales target at RM1.6 billion, similar to the sales target of RM1.63 billion it achieved in 2019, as the group is expecting the lower interest rate environment to continue to support its property sales.

LBS Bina targets RM1.6b sales in 2020

Malaysia's exports decreased 5.5% year-on-year (y-o-y) to RM80.8 billion in November 2019 as the nation's electrical and electronic product and commodity sales to major importers fell.

Malaysia Nov 2019 exports down 5.5% y-o-y at RM80.8b

AmInvestment Bank Bhd Research said it will extend its 2020 crude oil price forecast of US$60-65 per barrel to 2021, mainly due to US crude inventories sliding by 2% to 441 million barrels since mid-November against the backdrop of Saudi Aramco's recent listing.

AmInvestment forecasts crude oil at US$60-65 for 2020-2021

Hartalega Holdings Bhd's share price fell as much as 16 sen or 2.92% to RM5.32 in afternoon trades today while Top Glove Corp Bhd dropped nine sen or 1.91% to RM4.61 as a stronger ringgit versus the US dollar generated concerns about Malaysian glove manufacturers' income.

Hartalega, Top Glove shares drop as ringgit reaches 4.0813 against US dollar

Shares in FGV Holdings Bhd and Kuala Lumpur Kepong Bhd (KLK) rose 1.32% and 2.1% respectively in morning trades today, after India released a notification on Dec 31, 2019, confirming a cut in import taxes on crude palm oil (CPO) and refined oil from Southeast Asian (ASEAN) countries.

In a note today, Public Investment Bank Bhd Research said India cut import duties on CPO from 40% to 37.5% and slashed duties on refined oil from 50% to 45%.

FGV, KLK shares rise as India revised import taxes; PublicInvest 'overweight' on plantation sector

Shares of Cypark Resources rose 5.8% this morning after the group reported that its net profit for the fourth quarter ended Oct 31, 2019 (4QFY19) grew 23% year-on-year (y-o-y).

At 9:52am, Cypark Resources' share price rose 7 sen to RM1.45 with some 660,000 shares traded, valuing it at RM645.07 million.

Cypark rises 5.8% on better 4Q earnings

Affin Hwang Capital Research forecasts YTL Hospitality Real Estate Investment Trust (YTL REIT) to grow its distributable financial year 2020-2021 earnings (FY20-21E) by 9% year-on-year, driven by higher contributions from Green Leaf Niseko Village, JW Marriott KL and Brisbane Marriott Hotel, and lower financing cost for its Australian dollar borrowings.

YTL Hospitality REIT's FY20-21 earnings to grow 9%, says Affin Hwang

Apple Inc has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.

Apple intensifies talks with OpenAI for iPhone generative AI features

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak to collaborate with rare earth elements company from South Korea, says MB

Global stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen sank to a 34-year low after the Bank of Japan (BOJ) kept monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

Who pays for anytime EPF withdrawals?

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

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

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

(April 26): HSBC Holdings Plc successfully fought off a London court claim brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

EVENING 5: Five things you need to know today

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

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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

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

(April 26):&nbsp;HSBC Holdings Plc successfully fought off a London court&nbsp;claim&nbsp;brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co&nbsp;film financing.

KUALA LUMPUR (April 26):&nbsp;KPJ Healthcare Bhd, through its premier educational institution&nbsp;KPJ Healthcare University (KPJU),&nbsp;has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise&nbsp;healthcare.

KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

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

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

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

Fast-fashion firm&nbsp;Shein&nbsp;has been drawn under the scope of flagship&nbsp;European Union (EU) rules designed to clamp down on illegal and harmful content online, aimed at stopping the spread of counterfeit items on the platform.

EU hits fast-fashion giant Shein with new digital rules

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp&nbsp;will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel&nbsp;Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Global&nbsp;stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen&nbsp;sank to a&nbsp;34-year low after the Bank of Japan (BOJ)&nbsp;kept&nbsp;monetary policy loose.

WASHINGTON (April 26):&nbsp;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&nbsp;funding had helped Moscow seize the initiative.

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

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

Baltic Exchange shipping updates: April 26, 2024

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Wong Swee May

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Wong Swee May

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