Latest
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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
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).
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Corporate News
Farm Price aims for RM24.5mil from IPO
Farm Price Holdings Bhd aims to raise RM24.5mil from its initial public offering (IPO).
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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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Auto
Good earnings visibility for carmakers
Analysts generally expect the automotive sector’s earnings visibility to remain good, backed by a booking backlog of 200,000 units as of end-February 2024.
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Economy
Booming eCommerce bolsters consumption
China’s burgeoning eCommerce sector has played a vital role in bolstering the recovery of consumption, improving people’s livelihood and shoring up the economy as an increasing number of shoppers opt for high-quality and diversified products via online marketplaces, say experts.
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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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Corporate News
Dutch firm sets up technology centre in PJ
Global Dutch dairy firm FrieslandCampina, the parent company of Dutch Lady Milk Industries Bhd, has set up a technology excellence centre in Petaling Jaya, Selangor.