<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 7): Berjaya Food Bhd rocketed as much as 16 sen or 9% after RHB Research Institute Sdn Bhd upped its target price for Berjaya Food shares to RM2.41 from RM2.40, underpinned by Starbucks-driven earnings growth.</p></div>

<div class=newsTextDataWrapInner><p>Berjaya Food's website indicates that the company runs Starbucks Coffee outlets across Malaysia and Brunei. Berjaya Food also operates Kenny Rogers Roasters (KRR) outlets in Malaysia, Berjaya Food's website shows.</p></div>

<div class=newsTextDataWrapInner><p>RHB analyst Alexander Chia wrote in a note today that in RHB's view, Berjaya Food's &quot;investment merits are underpinned by Starbucks-driven earnings growth&quot;.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>&quot;Meanwhile, the potential successful disposal of KRR at a reasonable price — if it happens — would be earnings-accretive and could potentially trigger a re-rating for Berjaya Food as a pure Starbucks play,&quot; RHB said.</p></div>

<div class=newsTextDataWrapInner><p>At Bursa Malaysia, Berjaya Food shares rose to their highest so far today at RM1.98. At 12:30pm, the stock pared gains at RM1.95 with some one million shares traded.</p></div>

<div class=newsTextDataWrapInner><p>At RM1.95, Berjaya Food has a market capitalisation of RM728.13 million. Chia said RHB maintained its &quot;buy&quot; call for Berjaya Food shares.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (March 7): Berjaya Food Bhd rocketed as much as 16 sen or 9% after RHB Research Institute Sdn Bhd upped its target price for Berjaya Food shares to RM2.41 from RM2.40, underpinned by Starbucks-driven earnings growth.

Berjaya Food's website indicates that the company runs St...

Berjaya Food rockets after RHB upgrade on Starbucks growth

The National Budget is set to be tabled on Friday. Regardless of what will be announced, Malaysian corporates must continue to focus on several areas, apart from wave two of e-invoicing.

Focusing on tax areas that matter most

(Oct 17): Deere & Co. is laying off an additional nearly 300 people in Iowa and Illinois as demand for farm equipment slows from the peak production of recent years.

It’s the latest round of layoffs this year for the world’s top agricultural machinery maker, after it slashed it...

Deere announces more layoffs in Iowa, Illinois during farm slump

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.

Genting Malaysia, Varia, Salcon, SC Estate Builder, AME Reit, AME Elite, Ancom Nylex, MAHB, HPP Holdings, LKL, Bintai Kinden 

AME Real Estate Investment Trust's (KL:AMEREIT) proposed acquisition of four single-storey detached factories in Johor for RM119.45 million has been deemed fair and reasonable, according to independent adviser MainStreet Adviser Sdn Bhd.

AME REIT's proposed acquisition of Johor factories for RM119 mil is fair and reasonable, says independent adviser

(Oct 17): PPG Industries will lay off 1,800 employees in the U.S. and Europe and close various facilities as part of a cost-reduction program, the paints and coatings maker said on Thursday.

Shares of the Pittsburgh, Pennsylvania-based company were up 1.3% before the bell....

PPG to lay off 1,800 employees in US, Europe in cost-cut push

(Oct 17): Sage Therapeutics said on Thursday its finance chief will leave the company and the drugmaker plans to lay off more than 165 employees as part of a reorganization plan that aims to focus on the launch of its postpartum depression pill.

The company's workforce reductions i...

Sage Therapeutics' CFO to leave, drugmaker to lay off over 165 employees

France's belt-tightening budget delivers a bigger tax hit than the government originally let on, according to new breakdowns that suggest a bigger dent in President Emmanuel Macron's pro-business legacy.

French budget packs bigger tax punch than first meets the eye

US industrial production fell in September, weighed down by a strike at Boeing and two hurricanes, including Helene.

Boeing strike, Hurricane Helene weigh on US industrial production

Wall Street gained on Thursday, with the S&P 500 and the Dow touching intraday record highs, driven by TSMC's upbeat forecast and a bigger-than-expected rise in monthly retail sales indicating a strong US consumer.

Wall Street rises on chip rally, upbeat retail sales data

The International Monetary Fund (IMF) warned that wars, trade tensions, high debt and low growth threaten to prolong a lacklustre economic era and leave nations without the resources to reduce poverty and confront climate change.

IMF warns low growth, less trade and debt imperil world’s future

<p>KUALA LUMPUR (Oct 17): Public Bank Bhd’s (KL:PBBANK) capitalisation will remain healthy, even after fully accepting the mandatory general offer (MGO) to acquire all remaining shares of LPI Capital Bhd (KL:LPI), said S&amp;P Global Ratings.</p>


Public Bank still well capitalised after LPI Capital stake buy — S&P Global

<p>KUALA LUMPUR (Oct 17:) TA Securities expects egg prices to increase by just two- to three sen if the government proceeds with the removal of its 10 sen subsidy, easing concerns of a sharp price hike.</p>


Potential egg subsidy removal saves govt RM1.2b annually, unlikely to impact players — TA Securities

<p>Go <a href="https://theedgemalaysia.com/budget/2025/" target="_blank">here</a>&nbsp;for all about Budget 2025</p>

<p>MALAYSIA’s Budget 2025, themed “Madani Economy: Negara Makmur, Rakyat Sejahtera” to be tabled on Oct 18, was originally slated for a week earlier on Oct 11, the day Prime Minist...

The State of the Nation: What Anwar’s Budget 2025 could look like

<p>1Malaysia Development Bhd's (1MDB) lawyers claimed that Riza Aziz, the stepson of former prime minister Datuk Seri Najib Razak, had spent US$248 million in siphoned 1MDB funds on gambling, real estate, movie memorabilia, and to fund his company Red Granite Pictures and its motion picture productions.&nbsp;</p>


Riza Aziz spent 1MDB funds on gambling, real estate, memorabilia, and making movies, court told

<p>MOST analysts anticipate further upside to the share price of Malayan Banking Bhd (KL:MAYBANK) but are keeping a close watch on whether the country’s largest banking group can sustain a recent improvement in second-quarter net interest margin (NIM) after six straight quarters of sequential drops....

Cover Story 2: Upside seen for Maybank shares but interest margin, dividends under scrutiny

<blockquote class="blockquote">THE palm oil industry, which generates export earnings of about RM100 billion annually, has been the backbone of Malaysia’s economy for the last 50-odd years. In recent years, it has been overshadowed by developments in other sectors such as electrical and electronics,...

Cover Story 1: A survey of the palm oil sector

<p>(Oct 17):&nbsp;Malaysia’s sovereign bonds and currency are poised to rebound on robust economic indicators and expectations for fiscal discipline in the upcoming budget, investors said.</p>


Malaysia’s budget eyed for catalysts to spur rebound in bonds — Bloomberg

<p>KUALA LUMPUR (Oct 17): The prosecution in former finance minister Tun Daim Zainuddin’s criminal trial has questioned the validity of a medical certificate and his recent hospitalisation, saying that the certificate is not complete and should not be allowed by the court.&nbsp;</p>


Daim ordered to come to court on Nov 20 as prosecution questions his recent hospitalisation

<p>The Malaysian Anti-Corruption Commission (MACC) is currently investigating 20 development projects initiated by the Selangor government which are suspected of involving corrupt activities, said its chief commissioner Tan Sri Azam Baki.</p>


MACC looking into 20 projects under MBI in graft probe

<p>KUALA LUMPUR (Oct 17): Some 70% of Malaysian consumers believe that the health and retirement benefits provided by their employers are insufficient to meet their future financial and medical needs, indicating heightened concerns over rising healthcare costs and the ability to achieve retirement savings goals, according to a survey done by Manulife.&nbsp;</p>


Some 70% of Malaysians believe employee benefits insufficient to meet future financial needs — survey

<p>TSMC, the world's largest contract chipmaker, bet on sustaining its strong growth, after reporting on Thursday a forecast-beating 54% jump in quarterly profit driven by soaring demand for chips used in artificial intelligence (AI).</p>


TSMC bullish on outlook as AI boom blows 3Q profit past forecasts

<p>Tesla Inc responded to blowback over its robots relying on remote human operators at an event last week with a video demonstrating the progress its prototypes are making in moving around on their own.</p>


Musk counters Tesla bot blowback with video asserting progress

<p>Lim Seong Hai Capital Bhd (KL:LSH) and Besteel Engtech Sdn Bhd (BESB) have delivered their maiden joint-venture high-rise residential project named Laman Seri Harmoni (LSH33) in Sentul, Kuala Lumpur. Vacant possession of the project was delivered 33 days ahead of schedule on Sept 12.</p>

<p>According to a media statement, LSH Capital through a wholly owned subsidiary,&nbsp;LSH Best Builders Sdn Bhd (LSHBB), and BESB held the key handover ceremony on Wednesday. The event was graced by Kuala Lumpur mayor Datuk Seri Maimunah Mohd Sharif.</p>


LSH Capital hands over maiden high-rise project in Sentul, KL

<p>Malaysia plans to diversify its trading partners to explore new solar export markets, amid geopolitical tensions and the ongoing trade war between China and the US, according to the Ministry of Investment, Trade and Industry (Miti).</p>


Zafrul stresses need for 'diverse trading partners' to explore new solar markets

<p>Stacks of cash totalling RM600,000 were seized by the Malaysian Anti-Corruption Commission (MACC) during a raid on a rented house of the suspect in the sand mining concession case involving the Selangor Menteri Besar Incorporated (MBI) on Wednesday.</p>


Another RM600,000 in cash seized, ex-MBI COO remanded — MACC chief

<p>NCT Group of Companies, via its subsidiary NCT Land Sdn Bhd, has partnered with the Selangor Information Technology and Digital Economy Corp (Sidec) to digitalise&nbsp;and support growth of the 732-acre (296.23-hectare) NCT Smart Industrial Park (NSIP) in Sepang, Selangor.</p>


NCT Group partners Sidec to digitalise, support growth of NSIP in Sepang

<p>China&nbsp;is building its capacity to rapidly turn military drills into a full-out attack, a senior security official of Taiwan said, providing the Taipei government's assessment of the strategic intent behind Beijing's war games around the island this week.</p>


China building capacity to rapidly strike Taiwan, island's senior official says

<p>After months of withstanding political pressure and public bickering, Thailand's central bank on Wednesday delivered what the country's government had been pressing for: it cut its key interest rate, the first reduction since 2020.</p>


'No excuses': Thai central bank rate cut intensifies pressure on PM to spur economy

<p>Malaysia’s participation in BRICS will not include any free trade agreement (FTA) between the country and members of the economic&nbsp;group, said Deputy Investment, Trade, and Industry Minister Liew Chin Tong.</p>


Malaysia’s BRICS participation won't involve free trade agreements, says Liew

<p>The Federal Court on Thursday denied permission for the federal government and the Public Services Department (PSD) to challenge a decision won by retired Sabah and Sarawak High Court judges, who had been successful in getting a court judgment declaring that the amended Judges’ Remuneration Act 2014, which grants serving judges a 2% annual pension rise based on their last drawn salary, was unconstitutional.</p>
