<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 9): Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Autocount Dotcom Bhd at 56 sen and said Autocount is set to capitalise on the increasing digitalisation trend among small and medium enterprises in Malaysia and Singapore.</p></div>

<div class=newsTextDataWrapInner><p>In a stock watch note on Tuesday (May 9), HLIB said the group is also expanding into other Asean countries, where the demand for financial management software is on the rise.</p></div>

<div class=newsTextDataWrapInner><p>“We are projecting ADB’s (Autocount) FY2023-2025 forecasted core net profit to grow at a strong CAGR (compound annual growth rate) of 12.5%.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We value ADB at 56 sen based on 17.5 times FY2024 forecast EPS (earnings per share) of 3.2 sen,” it said.</p></div>

<div class=newsTextDataWrapInner><p>HLIB does not have a rating on Autocount as yet.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://www.theedgemarkets.com/node/666107" target="_blank">Autocount makes impressive debut on ACE Market at RM1.09</a></em></p></div>


Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Autocount Dotcom Bhd at 56 sen and said Autocount is set to capitalise on the increasing digitalisation trend among small and medium enterprises in Malaysia and Singapore.

HLIB Research values ACE Market-bound Autocount Dotcom at 56 sen

The meeting between Defence Minister Datuk Seri Mohamed Khaled Nordin and his Indonesian counterpart Prabowo Subianto on Tuesday discussed various issues, including security challenges and promoting stability in the Southeast Asian region.

Defence ministers of Malaysia, Indonesia discuss security, regional preparedness

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday (April 30):

Bursa, SimePlant, SEGi, Capital A, Duopharma, Rimbunan Sawit, MKHOP, Tasco, CIMB, Atrium REIT, KSL, GUH, Lebtech, Mentiga, Ge-Shen, Green Packet, Apex Equity

Fraser & Neave Holdings Bhd (F&N) posted a net profit of RM165.41 million in the second quarter ended March 31, 2024 (2QFY2024), higher by 63.48% compared to RM101.18 million a year before, driven by higher sales amid Chinese New Year and Hari Raya festival seasons and better margins.

Festive sales and better margins lift F&N’s 2Q net profit by 63%

KUALA LUMPUR (May 1): Malaysia’s top six universities have soared in Times Higher Education’s (THE) 2024 Asia University Rankings, compared to last year’s performance.

Malaysian universities rise in Times Higher Education’s 2024 Asia rankings

The Selangor government aims to eradicate hardcore poverty in the state by July, says Menteri Besar Datuk Seri Amirudin Shari.

He said this was based on the briefing from the Selangor Development Action Council which recorded a total of 861 families still in the hardcore poor category.

Selangor govt aiming to eradicate hardcore poverty by July — Amirudin 

The federal government is always committed to empowering national schools, but parents retain the right to choose the educational stream for their children, said PKR vice-president Nik Nazmi Nik Ahmad.

Parents' right to pick children's educational stream — Nik Nazmi

The proposed sale of Cyberjaya Education Group Bhd's Asia Metropolitan University license and business to Austin Legacy Education Sdn Bhd for RM15 million cash has fallen through.

Cyberjaya Education's RM15 mil sale of Asia Metropolitan University falls through

MKH Oil Palm (East Kalimantan) Bhd (MKHOP), fresh off its Main Market debut on Tuesday, is anticipating a reduction of fertiliser costs this year, which will have a positive impact on the company's margins and its bottomline.

Main Market debutante MKH Oil Palm anticipates stronger margins this year on lower fertiliser costs

Donald Trump was found in contempt of court and fined US$9,000 (RM42,885) after the New York judge overseeing his criminal hush-money trial ruled the former president repeatedly blasted key witnesses on social media in violation of a gag order.

Trump fined US$9,000 for violating gag order in New York trial

It was my privilege to have had the opportunity to participate in the Sejahtera Malaysia Forum on April 29, at Le Quadri Hotel, Kuala Lumpur, where the Minister of National Unity Malaysia, Datuk Aaron Ago Dagang, delivered the keynote address alongside distinguished panel speakers such as Dr Kelvin Yii Lee Wuen, MP of Kuching, Faye Lim, founder of The Rojak Projek, and Tan Sri Michael Yeoh, president of the KSI Strategic Institute for the Asia-Pacific. I was struck by the profound depth of our discourse.

Appreciation of history: A pathway to national unity

<p>Capital A CEO Tan Sri Tony Fernandes said the low-cost carrier, which will soon merge with AirAsia X Bhd (AAX), to incorporate a “sustainability fee soon”.</p>


AirAsia will charge 'sustainability fee soon' in airfares

<p>Oil palm plantation player MKH Oil Palm (East Kalimantan) Bhd (MKHOP) is the second company this year to conclude its maiden trading day on Bursa Malaysia with its share price slipping below its initial public offering (IPO) price.</p>


MKH Oil Palm dips below IPO price at the close of its maiden trading day

<p>Chin Hin Group-linked Chiau Haw Loon and Chiau Haw Yew have emerged as the second largest shareholder of Ge-Shen Corp Bhd after acquiring a 18.31% stake in the company.</p>


Chin Hin’s Chiau family buys 18.31% in Ge-Shen for RM30.36 mil

<p>Cocoa plunged by the most ever, slumping as much as 27% in just two days, with price swings becoming more extreme as fewer investors and companies can afford to maintain trading positions.</p>


Cocoa plunges most ever with trader exodus sparking huge moves

<p>Rimbunan Sawit Bhd is expecting around 40% increase in its fresh fruit bunches (FFB) production for the current financial year ending Dec 31, 2024 (FY2024) and is anticipating higher crude palm oil (CPO) prices for the year due to growing demand.</p>


Rimbunan Sawit expects bumper crop in FY2024, FFB production to grow 40% 

<p>Capital A Bhd may seek to re-acquire the 50% stake in ground-handling unit Ground Team Red Holdings Sdn Bhd (GTR) that will be sold to AirAsia X Bhd (AAX) in the ongoing restructuring exercise.&nbsp;</p>


Capital A may keep ground-handling unit housed in AirAsia, says Tony Fernandes

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday (April 30):</p>


<p>Green Packet Bhd is undertaking a private placement of 598.48 million shares representing 30% of its issued shares for 3.2 sen apiece or RM19.15 million.</p>


Green Packet undertakes 30% private placement to raise RM19.15 mil at 3.2 sen a share

<p>PUTRAJAYA (April 30): Perlis Menteri Besar Mohd Shukri Ramli on Tuesday testified for almost nine hours at the Malaysian Anti-Corruption Commission (MACC) headquarters here.</p>

<p>The Toyota Noah vehicle carrying him was seen leaving the MACC compound at 6.55pm after appearing to give his sta...

Perlis MB gives statement for almost nine hours in MACC

<p>KUALA LUMPUR (April 30): When it comes to technology (tech), the goal should not be to use the most difficult tech available to do something. Instead, the ultimate goal is to make it simple and cost-effective. This is what Michele Ferrario, co-founder and chief executive officer of Stashaway, aims to achieve with the robo-advisory platform.</p>


Keeping it simple

<p>Johor property player KSL Holdings Bhd proposed to acquire 22 land parcels in Pulai measuring a total of 183.33 acres for RM211.58 million.</p>


KSL buying Pulai land from Tropicana Corp for RM211 mil

<p>The Sessions Court here on Tuesday was told that the contract for the ‘Central Spine Road: Sertik to East Coast Highway Intersection’ project worth RM232 million was awarded to Nepturis Sdn Bhd.</p>


Central Spine Road project worth RM232 mil awarded to Nepturis, says witness

<p>PT CIMB Niaga Tbk, the 92.5%-owned subsidiary of CIMB Group Holdings Bhd, reported a 6.3% year-on-year growth in its consolidated net income for the financial quarter ended March 31, 2024 (1QFY2024). The bank attributed the improved earnings to healthy loan growth, improved asset quality indicators and effective cost management.</p>


CIMB Niaga’s 1Q consolidated net income up 6.3%

<p>The external auditor of Mentiga Corp Bhd, which is involved in oil palm plantation and timber trading, has flagged that the loss-making group's current liabilities have significantly surpassed its group's current assets, based on its financial statements for the year ended Dec 31, 2023.</p>


Auditor raises doubt about Mentiga's going concern ability as liabilities exceed assets

<p>Duopharma Biotech Bhd has accepted 11 letters of offers from a subsidiary of Pharmaniaga Bhd to supply 86 pharmaceutical and/or non-pharmaceutical products worth RM578.09 million in total, to government offices and facilities that Pharmaniaga operates.</p>


Duopharma secures RM578 mil supply contracts from Pharmaniaga

<p>Construction outfit Lebtech Bhd’s external auditor has issued a material uncertainty that may cast significant doubt on the group’s ability to continue as a going concern in its audited financial statements for the financial year ended Dec 31, 2023 (FY2023).</p>


Lebtech's auditor flags going concern uncertainty due to reliance on related parties for business 

<p>KUALA LUMPUR (May 1): Malaysia’s top six universities have soared in Times Higher Education’s (THE) 2024 Asia University Rankings, compared to last year’s performance.</p>


<p>he Malaysian Anti-Corruption Commission (MACC) has detained two high-ranking officers of a water supply company in the state on suspicion of receiving bribes from two contractors.</p>


MACC detains two water supply company officers over alleged bribery

<p>Singapore’s financial regulator is ending a six-month ban that restricted DBS Group Holdings Ltd from non-essential activities, after the country’s largest lender improved weaknesses related to a series of glitches in its digital banking services.</p>
