DUBAI/JERUSALEM (April 19): Explosions echoed over an Iranian city on Friday in what sources described as an Israeli attack, but Tehran played down the incident and indicated that it had no plans for retaliation — a response that appeared gauged towards averting region-wide war.

Tehran signals no retaliation against Israel after drones attack Iran

In today’s edition of Evening 5: 0:06 Escalating Middle East unrest, hawkish US Fed shake regional markets 2:32 Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows4:02 Axiata merger with Bharti Airtel raises earnings concern — analysts5:51 Awantec shares plunge as much as 53%, intraday short selling suspended7:33 Main-Market bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

EVENING 5: Bursa ends mixed amid weak regional sentiment

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

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 19): Construction company Lim Seong Hai Capital Bhd (LSH Capital) said it has obtained approval from its shareholders to transfer the group’s listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities.

Lim Seong Hai Capital gets shareholder nod for transfer of listing to ACE Market

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

YX Precious Metals proposes to transfer listing from ACE Market to Main Market

KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

Yinson’s unit places US$500 mil five-year senior secured bonds

KUALA LUMPUR (April 19): Fajarbaru Builder Group Bhd said it has secured a RM13.33 million contract to upgrade fire engineering systems at the Kuala Lumpur International Airport’s Terminal 1 satellite building.

Fajarbaru clinches RM13 mil contract from MAHB

MISC Bhd, via its petroleum arm AET, has entered into time charter party contracts with PETCO Trading Labuan Company Ltd (PTLCL) for the world’s first two ammonia dual-fuel Aframaxes (tankers with a deadweight of between 80,000 and 120,000 tonnes), as it seeks to reduce overall emissions from its operations.

Both MISC and PTLCL are units of  national oil company Petronas.

MISC enters time charter party contracts with Petronas unit for world's first ammonia dual-fuel Aframax tankers

KUALA LUMPUR (April 19): UEM Sunrise Bhd has launched The Beat 2.0, an extension of The Beat retail hub at its Kiara Bay development in Kepong, during a groundbreaking ceremony held at the Kiara Bay sales gallery on Friday. The Beat 2.0 measures 2.6-acres and will comprise a net lease area (NLA) of 73,566 square feet (sq ft), according to a press statement on Friday.

UEM Sunrise launches The Beat 2.0 at Kiara Bay, welcomes Harvey Norman as anchor tenant

Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.

In a brief statement issued on Friday, MIDF affirmed that it takes the cyber security incident seriously and reiterated its commitment to safeguarding the privacy and security of customers' information.

MIDF confirms cyber security incident

Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.

Trading in Sapura Energy suspended pending announcement 

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

Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.

Israel attacks Iran, Reuters reports, as drones shot down over Isfahan 

Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;

Awantec shares plunge 53%, intraday short selling suspended 

RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).

RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.

Apple pulls WhatsApp, Threads from China app store after Beijing order

MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;

Main Market-bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).

Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

KLCI up 0.43% with focus on energy, plantation, financial stocks

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.

Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.

Bursa Malaysia 1Q earnings likely up 34% y-o-y, HLIB projects

Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.

Malaysia’s March exports down 0.8%, imports surge 12.5%

Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.

Sime Darby Property gets commitment for balance 30% of RM1b industrial development fund

Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.

Kenanga sees Main-Market bound Keyfield International cashing in on OSV boom, sets target price at RM1.90

Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.

In a brief statement issued on Friday, MIDF affirmed that it takes the cyber security incident seriously and reiterated its commitment to safeguarding the privacy and security of customers' information.

Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.

Melaka State Secretary Zaidi dies of heart attack

PUTRAJAYA (April 19): Payment of fees&nbsp;for training or classes in esports, equestrian, swimming, motorsports and taekwondo is&nbsp;eligible for&nbsp;tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.

Payment of fees for sports training eligible for tax relief from next year — Hannah

KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

Batik Air will suspend its operations to Istanbul, Turkiye, effective May 1, 2024, and affected passengers will be notified via email and text, said the airline operator, Malindo Airways Sdn Bhd.

Batik Air to suspend operations to Istanbul from May 1

KNM Group Bhd
(April 10, 63.5 sen)
Maintain buy with a target price (TP) of 88 sen: KNM Group Bhd (KNM) announced contracts with a total value of RM204 million for year to date in financial year 2015 (FY15).

The contract details are: Refinery and Petrochem...

KNM unveils RM204m contracts for FY15

KNM Group Bhd
(March 16, 73 sen)
Maintain buy with unchanged target price of 88 sen: KNM Group Bhd has proposed to acquire ABL Group, which owns a combined 72% stake in Impress Ethanol and 49% stake in Impress Farming, for US$24 million (RM89.04 mil...

KNM changing to recurring income model

Pharmaniaga Bhd
(March 13, RM5.80)
Maintain buy with a target price (TP) of RM6.21: In its filing with Bursa Malaysia last Thursday Pharmaniaga announced that its wholly-owned subsidiary Pharmaniaga Logistics Sdn Bhd had entered into a supply agreem...

Pharmaniaga enters into supply agreement with UM

Malaysia Airports Holdings Bhd
(March 11, RM6.88)
Maintain buy with a target price (TP) of RM8.30: International passenger movement dropped by 4% but domestic passenger movement increased by 2%.

Overall, Malaysia Airports Holdings Bhd’s (M...

MAHB to benefit from optimism in aviation sector

Inari Amertron Bhd
(Feb 6, RM2.95)
Maintain buy with higher target price of RM3.44. Key takeaways from the recent analyst briefing reaffirmed our positive views on both Inari Amertron Bhd and its business outlook. Existing production is well-managed and continues to...

Backlog and new loading sustaining Inari Amertron

Automotive sector
Maintain “neutral”:  The Malaysian Automotive Association (MAA) reported strong December total industry volume (TIV) at 64,700 units (an increase of 6.9% year-on-year [y-o-y]; an increase of 16.9% month on month [m-o-m], boosted by Perodua Axia as we...

Auto sector’s 2015 TIV to stay flat

Building materials sector
Maintain neutral: Despite the government’s relentless efforts in curbing the influx of cheap imported steel products into Malaysia, performance of the domestic steel players remained weak in 2014.

Moving into 2015, Malaysia Iron and Stee...

Steel consumption in M’sia expected to grow 3% to 4% — MISF

Axiata Group Bhd
(Jan 13, RM6.98)
Maintain buy with target price (TP) of RM7.59: News wires have reported that Axiata  is interested in taking part in the privatisation of Vietnamese state-owned telco MobiFone. Axiata’s head of corporate development Annis Sheik...

Axiata looking to move into Vietnam

Construction sector
Maintain “overweight”: To better gauge the momentum of construction job flows, we tracked the contracts awarded to listed contractors based on their respective announcements made on Bursa Malaysia.

In the fourth quarter of 2014 (4Q14), domesti...

2014 — most job awards since 2009

Vitrox Corp Bhd
(Oct 3, RM2.80)
Upgrade to “buy” with target price of RM3.17. After going through the heavy industrial and manufacturing revolution, China is entering the
semiconductor era to fuel its economic growth as well as reduce its heavy reliance on ot...

Hong Leong Investment Bank Bhd

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Hong Leong Investment Bank Bhd

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