<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 13): CIMB IB Research has maintained its “Add” rating on Vivocom International Holdings Bhd at 36 sen with a higher target price of 78 sen (from 67 sen) and said Vivocom’s annualised 1Q16 net profit smashed house expectations by coming in 76% above our previous full-year forecast.</p></div>

<div class=newsTextDataWrapInner><p>In a note May 12, the research house said Vivocom’s margins were boosted by the final certification of works on several building jobs.</p></div>

<div class=newsTextDataWrapInner><p>“We raise our FY16F EPS by 31% but maintain FY17-18 EPS.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Maintain Add with a higher SOP-based target price of 78 sen, with construction earnings valued at 10.5x, 30% discount to the sector P/E of 15x.</p></div>

<div class=newsTextDataWrapInner><p>“Potential re-rating catalysts are continued flow of new contracts and potential bonus issue,” it said.</p></div>

<div class=newsTextDataWrapInner><p>At 9.31am, Vivocom topped the actives list and fell 2.78% or 1 sen to 35 sen with 74.53 million shares done.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (May 13): CIMB IB Research has maintained its “Add” rating on Vivocom International Holdings Bhd at 36 sen with a higher target price of 78 sen (from 67 sen) and said Vivocom’s annualised 1Q16 net profit smashed house expectations by coming in 76% above our previous full-year forecas...

Vivocom 1Q16 net profit smashed expectations, says CIMB IB Research 

TAIPEI (Oct 21): Taiwan's Fair Trade Commission said on Wednesday that it had blocked Grab's purchase of Delivery Hero's Foodpanda delivery business in Taiwan, citing competition concerns.

Taiwan regulator blocks Grab's purchase of Foodpanda delivery business in Taiwan

North Korea has moved new units into "firing positions", the powerful sister of leader Kim Jong-un said on Wednesday, days after Pyongyang warned it was considering deploying additional strike means to its border with South Korea.

North Korea says 'new firepower units' in place after border threat

US President Donald Trump said on Wednesday that companies building data centres should pay a "dividend" to the communities where they are sited if they want to make the developments popular.

Pay 'dividends' to communities to popularise data centres, Trump tells companies

MUMBAI (Oct 21): US Secretary of State Marco Rubio said on Wednesday that decisions regarding Ukraine's access to Starlink were up to SpaceX and Elon Musk, not the White House, comments that suggested Musk may have restricted Kyiv's access to the service.

Starlink access in Ukraine a decision for Musk, not White House, Rubio says

Britain's government borrowed more than expected again in September and public debt surpassed £3 trillion (US$4.01 trillion or RM16.39 trillion), according to official data that underscored Finance Minister John Healey's challenge in his first budget next week.

UK borrowing and £3 tril debt herald tough budget for govt

TAIPEI/BEIJING (Oct 21): Micron Memory Taiwan and a union representing workers at its Taichung operations said on Wednesday that they had signed a labour-management agreement covering multiple issues, prompting both sides to withdraw from mediation scheduled for Oct 22.

Micron, Taiwan union sign deal, withdraw from mediation

ASML Holding NV and other key providers of chipmaking machines have expedited supplies for Tesla Inc and SpaceX’s Terafab, Elon Musk said, signalling that the billionaire is making fast progress on an ambitious semiconductor project.

Musk says ASML, others expediting chipmaking gear for Terafab

Defusing the capex time bomb

The Edge Explains

Carlsberg A/S is preparing to publicly file documents for an initial public offering (IPO) of its India business, which could raise as much as US$700 million (RM2.86 billion), as early as this week, according to people familiar with the matter.

Carlsberg close to filing IPO for Indian unit for US$700 mil — Bloomberg

<p>SEPANG (Oct 21): Malaysian Border Control and Protection Agency director general Datuk Seri Mohd Shuhaily Mohd Zain has been&nbsp;charged for hurting lower-ranking officers.</p>


Border Control director general Shuhaily charged for hurting lower-ranking officers, claims trial

<p>KUALA LUMPUR (Oct 21): Tan Sri Tan Kean Soon, the former deputy chairman of an oil-and-gas services firm, has been charged with fraud of over RM10 million.</p>


Tan Kean Soon, former T7 Global deputy chairman, charged with RM10m fraud

<p>The number of Malaysians aged 65 and above crossed the one-million mark in 2002, accounting for 4.2% of the population. Back then, those aged 14 and below made up a third of the population.</p>


Fastest ageing states as Malaysians grow older

<p>The government is open to considering a proposal to establish a royal commission of inquiry (RCI) into Retirement Fund Inc&nbsp;(KWAP) and the Employees Provident Fund (EPF)&nbsp;should the need arise.</p>


Azalina: Govt to consider commission to probe KWAP, EPF if needed

<p>Civil servants have been banned from using the Waze navigation app with immediate effect, following a decision by the National Cyber Security Committee (JKSN) at its meeting on Tuesday.</p>


Malaysian civil servants banned from using Waze with immediate effect

<p>The 10 sacked Negeri Sembilan executive councillors have filed a motion at the Federal Court seeking to challenge the state ruler's decision last month to remove them.&nbsp;</p>


Negeri Sembilan excos ask Federal Court if their sacking is constitutional

<p>CIMB Group Holdings Bhd (KL:CIMB) is exploring taking its Indonesian arm private as tough market conditions dim prospects for a potential secondary offering, analysts said.</p>


CIMB weighs taking Indonesian unit private as potential secondary offering loses appeal — analysts

<p>BENGALURU (Oct 21): Anthropic's net loss widened sharply to US$80.7 billion (RM329.4&nbsp;billion) in the first half of this year, in large part due to a rise in the fair value of bonds convertible into shares of the AI start-up, according to a draft prospectus for a planned initial public offering (IPO) that was reviewed by <em>Reuters</em>.</p>


Anthropic logs first-half net loss of over US$80 bil as AI race weighs

<p>Asian stocks came close to reclaiming their highest level since last week's sell-off in regional trading on Wednesday, buoyed by gains on Wall Street and early signs of a strong corporate earnings season.</p>


Asian stocks climb as strong earnings buoy Wall Street

<p>Tourism operators are experiencing fewer bookings for this time of year — and even cancellations — as smog disrupts flights, obscures some of the country’s best-known attractions and threatens a key driver of the Southeast Asian economy.</p>


Malaysia set for tourism fallout from Indonesian haze

<p>Westports Holdings Bhd (KL:WPRTS) reported a record-high revenue from tariff increases and higher income from value-added services, boosting its earnings in the third quarter.</p>


Tariff increase, extra services lift Westports revenue to new record, boost earnings

<p>The smog blanketing parts of Southeast Asia is threatening an army of tiny-but-crucial workers in the region’s palm industry — beetles that pollinate the trees and help keep the world supplied with the most-consumed vegetable oil. &nbsp;</p>


Indonesian haze threatens tiny bugs that power palm oil output

<p>The Attorney General’s Chambers (AGC) and Datuk Seri Dr Ahmad Zahid Hamidi have obtained a stay on the Malaysian Bar’s judicial review&nbsp;challenging&nbsp;the discharge not amounting to an acquittal (DNAA) that had been given to Zahid for 47 charges of abuse of power, criminal breach of trust, and corruption related to Yayasan Akalbudi.</p>


AGC, Zahid obtain stay of Malaysian Bar judicial review challenge over DNAA

<p>SAO PAULO (Oct 21): Brazil raced to contain the trade fallout from the detection of a highly contagious bird virus, as poultry shipments to countries including top buyer China faced restrictions.</p>


Brazil moves to contain bird virus, suspends chicken exports to Malaysia

<p>DayOne Data Centers Ltd&nbsp;is weighing options for its US initial public offering (IPO), including a potential delay or size cut, as volatility around data centres increases, according to people familiar with the matter.</p>


Singapore's DayOne said to weigh options for US IPO after data centre rout

<p>KUALA LUMPUR (Oct 21): NWE Resources Group Bhd (KL:NWEBHD) edged higher in the consumer product company’s first day on the ACE Market.</p>


NWE Resources opens with modest gain on ACE Market debut

<p>Developers' projected profits from urban redevelopment projects will factor into how replacement properties for existing homeowners are valued under the proposed Urban Renewal Bill (URA).</p>


Urban Renewal Bill to factor in developers’ projected profits in valuing replacement properties

<p>BEIJING/SINGAPORE (Oct 21): Oil prices gained over US$1 on Wednesday as escalating Middle East tensions fuelled fears of supply disruptions, while falling US crude and product inventories lent support to the market.</p>


Oil rises on Middle East supply fears, US inventory drawdowns

<p>Boeing Co&nbsp;won US regulator approval for its 737 Max 10 jet, capping off a lengthy certification saga for the plane-maker’s family of narrowbody aircraft that was disrupted by two fatal crashes and a series of quality lapses.&nbsp;</p>


Boeing wins US approval for largest variant of 737 Max jet

<p>High capital requirements remain a major hurdle for Malaysian semiconductor design firms despite being granted subsidised access to UK-headquartered ARM Holdings plc's blueprints for chip components. &nbsp;</p>
