Latest
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Telcos
Axiata, Sinar Mas move closer to US$3.5bil telco merger
WIRELESS carrier Axiata Group Bhd. and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.
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Markets
Agricore gets Bursa nod to list on ACE Market
KUALA LUMPUR: Agricore CS Holdings Bhd has received approval from Bursa Malaysia to list on the ACE Market.
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Economy
South Korea Q1 GDP growth smashes estimates, but outlook's uncertain
SEOUL: The South Korean economy grew at the fastest pace in more than two years in the first quarter beating all estimates with a pick-up in domestic consumption and robust exports, but the market questioned if the recovery was sustainable.
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Forex
Ringgit soft as US$ remains elevated
KUALA LUMPUR: The ringgit extended its downward trend as the US dollar remained elevated while market players await the release of the United States’ first-quarter (1Q) gross domestic product (GDP) data later today, as well as the March Personal Consumption Expenditures (PCE) data tomorrow.
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Analyst Reports
Product innovation drives sales of local plastic packaging
KUALA LUMPUR: The adoption of new product innovations is giving local plastic packaging manufacturers an edge over their global peers as they vie for market share amid a period of inventory restocking.
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Markets
Bursa's rally continues ahead of economic releases
KUALA LUMPUR: Bursa Malaysia is defying gravity despite expectations of profit-taking after six consecutive sessions of gains took the stock benchmark to its highest level in two years.
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Commodities
Oil settles lower as concerns over Mideast ease
Oil prices fell on Wednesday as worries over conflict in the Middle East eased and business activity in the United States slowed, although a fall in US crude oil inventories put a floor on those losses.
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Markets
S&P 500 ends higher as markets weigh rising yields
Benchmark S&P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.
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Analyst Reports
Trading ideas: MyEG, Axis REIT, Mah Sing, Capital A, Hibiscus, Chin Hin, Carlsberg, I-Bhd
KUALA LUMPUR: Here is a summary of the previous day's corporate announcements, according to TA Securities Research.
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Corporate News
I-Bhd plans preference share issue
Property developer I-Bhd is proposing to issue preference shares to its major shareholder, Sumurwang Sdn Bhd, in a deal that could raise up to RM100mil.
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Aviation
Passenger traffic stays strong in the first quarter
MIDF Research is maintaining a “neutral” call on the aviation sector as both positives and negatives are to be expected for the rest of the year.
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Corporate News
RHB Bank is planning to maintain its 4.5% loan growth target
RHB Bank Bhd is likely to be operating with modest loan prospects in the financial year 2024 (FY24), with stable net interest margins (NIM) as well as a balanced set of non-fund-based streams, says Kenanga Research.
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Corporate News
UMediC set to post better results with expansion
Medical device maker UMediC Group Bhd (UMC) is expected to post stronger second half financial year 2024 results on the back of expanded manufacturing capacity and better marketing and distribution segments, according to Phillip Capital Research.
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Corporate News
Scientex a refuge for defensive investors
Scientex Bhd will prevail as a defensive refuge for investors to weather potential cyclical downturns despite global market uncertainty, says UOB Kay Hian Research (UOBKH Research).
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Corporate News
Inta Bina benefits from robust property sector
Inta Bina Group Bhd has secured a second construction job this year that offers a projected profit before tax margin of 5.4% and a net profit contribution of about RM7mil over the construction period.
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Commodities
MPOB seeks to strengthen oil palm R&D strategies
The Malaysian Palm Oil Board (MPOB) will analyse research projects and issues in the local oil palm industry to ensure that it will continue to drive growth and progress towards a lucrative and sustainable future.
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Corporate News
KLCCP upbeat about its growth prospects
KLCCP Stapled Group remains optimistic about the growth prospects for all its business segments on the back of heightened demand for meetings, incentives, conferences and exhibitions as well as the number of tourist arrivals.
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Corporate News
Axis-REIT to sell Johor asset for RM162mil
Axis Real Estate Investment Trust (Axis-REIT) is proposing to dispose of the Axis Steel Centre@SiLC in Nusajaya, Johor, to a data centre operator for RM162mil.
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Logistics
Little impact so far from Mideast tensions
The ongoing tensions in the Middle East are having limited impact on the earnings growth of local shipping and aviation companies operating in the transportation sector.
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Corporate News
Meta Bright signs RM25mil leasing contract
Meta Bright Group Bhd (MBGB), via its wholly-owned Australian subsidiary Meta Bright Australia Pty Ltd, has secured a equipment leasing contract from Australian copper mining company Mt Cuthbert Resources Pty Ltd (MCR).