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KLCI ends in the red on PChem, PetGas losses but GentingM shines

KUALA LUMPUR: Foreign funds stepped up selling pressure on Petronas Chemical and Petronas Gas again on Wednesday sending the key FBM KLCI into the red but Genting and Genting Malaysia closed higher.

A better second half anticipated

AFTER a rocky first half, investors now find themselves hoping that the second half will see Malaysian equities play catch-up to their regional peers. 

EG Industries 'hold', Berjaya Sports 'outperform', Icon Offshore 'sell', AirAsia 'reduce'

EG Industries: THE electronics manufacturing services company has benefitted from the ongoing trade tensions between United States and China to secure new box-build contracts which the management believes could rake in about RM1.5bil in FY20.

UOBAM Malaysia launches first Shariah-compliant global balanced fund

KUALA LUMPUR: UOB Asset Management (Malaysia) Bhd (UOBAM (Malaysia)) had on Wednesday launched the United-i Global Balanced Fund, its first Shariah-compliant global balanced fund.

Genting Malaysia identifies areas for cost cutting

PETALING JAYA: Genting Malaysia Bhd has identified various steps to help it cut some costs in the face of the new gambling taxes, UOB Kay Hian Research said.

Stock picks for 2019

LAST year was a black spot for global financial markets that experienced a big hit.

Earnings growth, positive fund flows seen as lifting Malaysian markets

PETALING JAYA: Earnings growth and positive fund flow movements could be key catalysts to drive the stock market from current depressed levels, according to MIDF Research, which has maintained its 2019 target for the FBM KLCI at 1,830 points. The target is almost 200 points higher than yesterday’s close of 1,635.31 points for the FBM KLCI, with the forecast being based on a price to earnings ratio of 16.2 times from the current level of 15.8 times.

Gaming sector upgraded due to lower duty than expected

PETALING JAYA: The gaming sector has been upgraded to an Overweight from Market Weight previously, as UOB KayHian Research expects casino duty for the VIP segment to be raised to 20% of gross gaming revenue, lower than the initially expected 35%.

Analysts: Higher casino duties a negative surprise

PETALING JAYA: Several analysts have cut their earnings forecast on Genting Bhd and Genting Malaysia Bhd following the government’s decision to increase casino tax.