<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

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Wednesday following concerns over an expectation of weaker demand in the coming weeks, which might raise the overall stock level in the country, said a dealer.

CPO futures close lower amid concerns over weaker demand

The Danish military is staying near a Chinese ship that may be linked to damaged data cables in the Baltic Sea.

A high-speed fibre optic cable connecting Finland and Germany was cut early on Monday by what was likely an external impact and a nearby link between Lithuania and Sweden was damaged on Sunday. It was the second such incident in the Baltic Sea in just over a year.

China ship stirs suspicions after Baltic Sea cables damaged

With Nvidia Corp due to report an unusually complex quarter as the world’s most valuable company, traders are preparing for a potentially mammoth stock swing.

The options-implied move for Nvidia shares the day after earnings is about 8% in either direction, according to data compiled by Bloomberg.

Nvidia traders brace for potential US$300 bil earnings move

Kawan Food Bhd’s (KL:KAWAN) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) fell 87.5% to RM960,000 from RM7.69 million in the same quarter last year (3QFY2023), dragged by unrealised foreign exchange (forex) losses due to the weakening of the US dollar against the ringgit, and a higher tax charge.

Kawan Food’s 3Q profit drops over 80%, dragged by forex losses and higher tax expense

Pos Malaysia Bhd (KL:POS) continued its quarterly streak in the red, posting a wider net loss for the third quarter on lower postal and freight volume, and higher other and tax expenses.

Pos Malaysia's 3QFY2024 net loss widens on lower postal and freight volume

A Pakistani court granted bail to former prime minister Imran Khan in a case where he is accused of hiding income but he won’t be freed from jail as he is under arrest in other cases.

Judge Miangul Hassan Aurangzeb of the Islamabad High Court ordered to free the opposition leader from jail and granted bail in the case for selling state gifts and not disclosing the income when he was in power, his lawyer Salman Safdar told reporters in Islamabad on Wednesday.

Pakistan court grants bail to ex-PM Imran Khan

Opec Secretary General Haitham Al Ghais on Wednesday told the COP29 climate summit in Baku that crude oil and natural gas were a gift from God, and that global warming talks should focus on cutting emissions not picking energy sources.

Opec secretary general tells COP29 oil is a gift from God

The Selangor government aims to complete the construction of the Selangor Food Warehouse within the next three years, said State Infrastructure and Agriculture Committee chairman Izham Hashim.

He said the warehouse, which will be built on a four-hectare (10-acre) plot in Kuala Selangor, is currently in the process of land rezoning with the local authorities before a "request for proposal" can be issued.

Selangor targets three-year completion for food warehouse to boost food security

Russia said it’s prepared to discuss a potential cease-fire in Ukraine with US President-elect Donald Trump, even as the conflict intensifies on all fronts with the warring sides seeking to strengthen their hands ahead of any talks.

Putin’s offer to talk to Trump is unlikely to end fighting soon

The National Audit Department (JAN) will focus on three key elements — financial statements, company objectives and corporate governance — when conducting audits of 1,856 entities, including government-linked companies (GLCs), starting next year.

Audit dept to audit 1,856 entities, focus on financial transparency, governance

<p>KUALA LUMPUR (Nov 20): Petronas Chemicals Group Bhd (KL:PCHEM) was sent into the red for the first time ever since its listing more than a decade ago&nbsp;on paper losses in the third quarter.&nbsp;</p>


Petronas Chemicals reports first-ever quarterly loss since listing

<p>Malaysia will launch a new generation of identity cards as part of efforts to combat identity fraud, Deputy Home Minister Datuk Seri Shamsul Anuar Nasarah said.</p>


Malaysia to launch new-gen identity card with enhanced security features

<p>The criminal charge against the late former finance minister Tun Daim Zainuddin, for a failure to declare his assets, has been dropped following his demise.</p>


Prosecution drops criminal charge against Daim, court grants 'posthumous' acquittal

<p>There is a need to overhaul the entire implementation process of Phase 2 of the National Digital Network (Jendela) initiative to ensure effectiveness of the programme, according to Communications Minister Fahmi Fadzil.</p>


Fahmi wants ‘overhaul’ of Jendela Phase 2, lambasts telcos over non-operational towers

<p>The Kuala Lumpur High Court has sided with Tokio Marine Life Insurance Malaysia Bhd in its dispute with RHB Bank Bhd (KL:RHBBANK) over their bancassurance business, but also ordered it to respond to the best offer that RHB Bank receives within 14 days after receiving it from the bank.</p>


Court orders Tokio Marine to respond to RHB's best offer within 14 days

<p>GEORGE TOWN (Nov 20):&nbsp;Property developer Eastern &amp; Oriental Bhd [KL:E&amp;O] has unveiled its&nbsp;masterplan for its Andaman Island development project, with a&nbsp;gross development value (GDV) of RM60 billion.</p>


E&O launches RM60b masterplan for Andaman Island development project

<p>The United States could impose nearly 40% tariffs on imports from China early next year, a <em>Reuters </em>poll of economists showed, potentially slicing growth in the world's second-biggest economy by up to one percentage point.</p>


Poll: Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth 

<p>KUALA LUMPUR (Nov 20): SRC International Sdn Bhd has settled a suit against Parti Bumiputera Perkasa Malaysia president Datuk Ibrahim Ali, while the company and Umno continue to negotiate towards a settlement.</p>


SRC settles suit with Ibrahim Ali, inches towards settlement with Umno

<p>BMW Group Malaysia is currently engaging with the government and local partners on its plan to locally assemble its electric vehicle (EV) units, aligning with the tax exemption for EV owners until the end of 2025.</p>


BMW Group Malaysia to discuss with govt entities and local partners on EV assembly

<p>Bursa Malaysia has filed an application to the High Court seeking clarifications on the legal implications of the court's appointment of an interim judicial manager for Sarawak Cable Bhd (KL:SCABLE), whose shares it suspended from trading on Tuesday but has now allowed to resume on Thursday.</p>

<p>In a bourse filing on Monday, Sarawak Cable announced it had received a letter from Cheang and Ariff, the solicitors acting on behalf of Bursa, on the bourse operator's application.</p>


Bursa lifts suspension of Sarawak Cable shares as it seeks clarification from court regarding interim judicial manager's appointment

<p>Bank Negara Malaysia (BNM) said on Wednesday it is prepared to deal with currency volatility while ensuring the orderly functioning of the foreign exchange market.</p>


BNM stands ready to deal with currency volatility, ensure orderly forex market

<p>KUALA LUMPUR (Nov 20): Shares of Dialog Group Bhd (KL:DIALOG) rose on Wednesday in active trading, as investors took comfort in the strong start to its earnings, while analysts continued to recommend their clients to buy into the energy services firm.</p>


Dialog shares rise in active trade, most analysts still advice ‘buy’ after 1Q results

<p>Speculative fever in Chinese stocks is running red hot and catching the attention of some global funds, who figure local money is worth following into market segments sheltered from tariffs and likely to ride an eventual economic recovery.</p>


China's cashed-up crowd is back in the stock market

<p>KUALA LUMPUR (Nov 20): The Ministry of Transport may impose a fee on those who require a physical copy of their driving licence some time next year.</p>


Transport Ministry may impose fee on physical driving licences next year

<p>IFCA MSC Bhd (KL:IFCAMSC) said it is targeting RM440 million in new sales over the next three years mainly through new customers arising from its property management system solutions, optimising pricing and growing its distributors programme.</p>


IFCA MSC targets RM440m in new sales for next three years

<p>Lawyer Tan Sri Muhammad Shafee Abdullah on Tuesday claimed the media had failed to do its job during its reporting of former prime minister Datuk Seri Najib Razak's SRC International Sdn Bhd trial — for which Najib was found guilty of abuse of power, criminal breach of trust, and money laundering involving RM42 million of SRC's money — and alleged that the press had left out certain facts of the case.</p>


Shafee claims media failed to do its duty in Najib's SRC trial

<p>KUALA LUMPUR (Nov 20): Bagan Member of Parliament Lim Guan Eng has called for an explanation from Education Minister Fadhlina Sidek regarding the hosting of officials from the Taliban-led Afghanistan government.</p>

<p>Lim said that the ministry's decision to host the Taliban has raised many c...

Guan Eng demands explanation from education minister for hosting Taliban delegates

<p>Indonesian assets were steady on Wednesday after the country's central bank stayed pat on monetary policy as expected, while investors across emerging Asia exercised caution ahead of artificial intelligence major Nvidia's quarterly results.</p>


Indonesian rupiah, stocks steady after cenbank holds rates; other Asian assets muted

<p>Hap Seng Plantations Holdings Bhd (KL:HSPLANT) logged its highest quarterly net profit in nearly three years boosted by strong palm oil prices and lower operating expenses but flagged rising costs ahead.</p>


Hap Seng Plantations logs highest quarterly profits in nearly three years on strong prices, lower expenses

<p>Malaysia regained its position as the second-largest supplier of crude oil to China last month, data showed on Wednesday, with supplies rising 28% on year as independent refiners sought cheaper sanctioned oil amid Middle East supply concerns.</p>
