<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 3): Kenanga Research said Affin Bank Bhd which gapped up to a high of RM1.91 on Tuesday before closing at RM1.86 yesterday – could continue its upward trajectory ahead.</p></div>

<div class=newsTextDataWrapInner><p>In its daily technical highlights today, the research house said that following a bounce off the 100-day and 200-day SMA lines, the share price is expected to shift higher.</p></div>

<div class=newsTextDataWrapInner><p>“On the chart, the stock will probably make its way towards our resistance thresholds of RM2.04 (R1; 10% upside potential) and RM2.16 (R2; 16% upside potential).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Our stop loss price level is pegged at RM1.67 (or a 10% downside risk),” it said.</p></div>

<div class=newsTextDataWrapInner><p>Kenanga said that backed by its business of offering a suite of financial products and services that is catered to both retail and corporate customers, Affin has just announced a strong set of results with net profit coming in at RM206.8 million in 4QFY21 (versus 4QFY20’s net loss of RM9.4 million), taking FY21’s full-year bottomline to RM526.9 million (+129% y-o-y).</p></div>

<div class=newsTextDataWrapInner><p>“Going forward, consensus is projecting the group to make net earnings of RM530.8 million for FY December 2022 and RM648.2 million for FY December 2023,” it said.</p></div>

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KUALA LUMPUR (March 3): Kenanga Research said Affin Bank Bhd which gapped up to a high of RM1.91 on Tuesday before closing at RM1.86 yesterday – could continue its upward trajectory ahead.

In its daily technical highlights today, the research house said that following a bounce off the 1...

Affin Bank could continue its upward trajectory ahead, says Kenanga

France’s new premier Francois Bayrou vowed to sharply narrow the nation’s deficit to close to 5% of GDP, a plan that threatens a repeat of the stand-off which toppled the last government.

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Iranian authorities have lifted a ban on Meta's instant messaging platform WhatsApp and Google Play as a first step to scale back internet restrictions, Iranian state media reported on Tuesday.

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Social media platform TikTok recorded 2,606 requests from the Malaysian government to remove or restrict content on its platform in 1H2024, the highest among all governments in the period, according to its latest report on government removal requests.

Malaysia tops TikTok content, account removal requests in 1H2024 among govts

Wall Street's main indexes rose on Tuesday in a truncated trading session before Christmas, with the S&P 500 and the Nasdaq up for the third consecutive day, helped by gains in a handful of megacap and growth stocks.

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American Airlines Group Inc said a technical vendor glitch was the cause of a brief groundstop on all US flights on Christmas Eve, one of the busiest days of the holiday travel season.

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KUALA LUMPUR (Dec 24): Here is a brief recap of the business news and corporate announcements that made the headlines on Tuesday:

Boustead Heavy Industries Corp Bhd's (KL:BHIC) shareholders have approved the disposal of the fabrication and engineering company’s 51% equity stake i...

BHIC, Pharmaniaga, MMAG, Prolintas, Nestcon, Datasonic, PUC, KKB Engineering, Parlo 

Malaysian Rating Corporation Bhd (MARC) on Tuesday affirmed Malaysia's public information sovereign rating at AAA with a "stable" outlook.

However, MARC flagged challenges from a high fiscal deficit and debt levels, as well as the tax revenue-to-gross domestic product (GDP) ratio of 12.6% in 2023, which remains below the peer average despite recovering to pre-pandemic levels.

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OCBC Bank (Malaysia) Bhd (OCBC Bank) has been named Malaysia’s “Bank of the Year” by London-based publication The Banker for the second consecutive year.

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European natural gas prices fluctuated above €45 (RM210.32) a megawatt-hour amid persistent supply concerns, with just a week left until a key transit deal between Russia and Ukraine expires.

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<p>KKB Engineering Bhd (KL:KKB) has initiated adjudication proceedings under the Construction Industry Payment and Adjudication Act against a contractor over outstanding claims amounting to RM10.1 million.</p>


KKB Engineering sues glove factory project contractor over unpaid claims

<p>KUALA LUMPUR (Dec 24): Here is a brief recap of the business news and corporate announcements that made the headlines on Tuesday:</p>

<p><b>Boustead Heavy Industries Corp Bhd</b>'s (KL:BHIC) shareholders have approved the disposal of the fabrication and engineering company’s 51% equity stake i...

<p>OCBC Bank (Malaysia) Bhd (OCBC Bank) has been named Malaysia’s “Bank of the Year” by London-based publication <i>The Banker</i> for the second consecutive year.</p>


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EVENING 5: Five things you need to know today

<p>Social media platform TikTok recorded 2,606 requests from the Malaysian government to remove or restrict content on its platform in 1H2024, the highest among all governments in the period, according to its latest report on government removal requests.</p>


<p>Nestcon Bhd’s (KL:NESTCON) wholly owned subsidiary&nbsp;Nestcon Infra Sdn&nbsp;Bhd is set&nbsp;to develop a large-scale solar photovoltaic plant (LSSPV) with 14.99 megawatts of alternating current (MWac) in&nbsp;Bongawan, Kimanis, Sabah.</p>


Nestcon wins bids to develop 18.99 MWac LSS power plant projects in Sabah

<p>Major banks and business groups sued the Federal Reserve on Tuesday, alleging the US central bank's annual "stress tests" of Wall Street firms violate the law.</p>


Big banks, business groups sue US Fed over annual stress tests 

<p>Malaysian Rating Corporation Bhd (MARC) on Tuesday affirmed Malaysia's public information sovereign rating at AAA with a "stable" outlook.</p>

<p>However, MARC flagged challenges from a high fiscal deficit and debt levels, as well as the tax revenue-to-gross domestic product (GDP) ratio of 12.6% in 2023, which remains below the peer average despite recovering to pre-pandemic levels.</p>


<p>American Airlines Group Inc said a technical vendor glitch was the cause of a brief groundstop on all US flights on Christmas Eve, one of the busiest days of the holiday travel season.</p>


<p>The Road Transport Department (JPJ) has initiated a comprehensive investigation and safety audit on the vehicle companies involved in the fatal accident at KM204 of the North-South Expressway (PLUS) northbound in Melaka on Monday night.</p>


JPJ launches investigation, safety audit over KM204 fatal crash

<p>Any attempts to sow division or actions that trigger racial discord must be avoided, said Prime Minister Datuk Seri Anwar Ibrahim.</p>

<p>In a Facebook post on Tuesday, in conjunction with Christmas, which will be celebrated by Christians on Wednesday, Anwar emphasised that all Malaysians need each other and complement one another, particularly in efforts to build a successful and distinguished national identity.</p>


Any attempts to incite racial discord must be avoided — PM

<p>Wall Street's main indexes rose on Tuesday in a truncated trading session before Christmas, with the S&amp;P 500 and the Nasdaq up for the third consecutive day, helped by gains in a handful of megacap and growth stocks.</p>


<p>Salesforce Inc says it’s taking multiple large customers from former partner Veeva Systems Inc in a mounting rivalry to sell software to the pharmaceutical industry.</p>


<p>During their inaugural meeting on Monday, Malaysia and the Kyrgyz Republic committed to exploring collaboration and exchanging information on the latest advancements in agriculture.</p>


Malaysia, Kyrgyz Republic set to explore agriculture collaboration

<p>France’s new premier Francois Bayrou vowed to sharply narrow the nation’s deficit to close to 5% of GDP, a plan that threatens a repeat of the stand-off which toppled the last government.</p>


<p>European natural gas prices fluctuated above €45 (RM210.32) a megawatt-hour amid persistent supply concerns, with just a week left until a key transit deal between Russia and Ukraine expires.</p>


<p>Iranian authorities have lifted a ban on Meta's instant messaging platform WhatsApp and Google Play as a first step to scale back internet restrictions, Iranian state media reported on Tuesday.</p>


<p>Registered paddy farmers nationwide are encouraged to join the Paddy Crop Takaful Scheme (STTP) as protection against unforeseen disasters.</p>

<p>In a statement on Tuesday, Agrobank highlighted that the STTP is crucial for farmers, especially when facing natural disaster risks such as floods or drought and pest and disease infestations.</p>
