<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 30): Hong Leong Investment Bank (HLIB) Research has downgraded Press Metal Aluminium Holdings Bhd to “Hold” at RM4.80 with a lower target price of RM4.54 (from RM5.28) and said Press Metal posted 3Q22 core net profit of RM315.8 million (-23% q-o-q, +11% y-o-y), bringing 9M22 core earnings to RM1,146 million (+54% YoY).</p></div>

<div class=newsTextDataWrapInner><p>In a note on Wednesday (Nov 30), the research house said deemed the results to be within expectations at 74%/71% of house/consensus full-year forecast.</p></div>

<div class=newsTextDataWrapInner><p>HLIB said the prospects of aluminium as a metal remains challenging in the near term due to recession woes and the general decline in the global real estate markets (due to the high interest rate environment).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We highlight that Press Metal may still register weak quarters ahead due to subdued aluminium spot prices.</p></div>

<div class=newsTextDataWrapInner><p>“We downgrade Press Metal to Hold with a lower TP of RM4.54 (from Buy with a TP of RM5.28 previously) – based on a P/E multiple of 20x on FY23f profits,” it said.</p></div>

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KUALA LUMPUR (Nov 30): Hong Leong Investment Bank (HLIB) Research has downgraded Press Metal Aluminium Holdings Bhd to “Hold” at RM4.80 with a lower target price of RM4.54 (from RM5.28) and said Press Metal posted 3Q22 core net profit of RM315.8 million (-23% q-o-q, +11% y-o-y), bringing 9M22 cor...

HLIB downgrades Press Metal, lowers target price to RM4.54

KUALA LUMPUR (Oct 26): Majlis Amanah Rakyat (MARA) has filed a lawsuit against a Bumiputera company alleged to have misappropriated funds from a flight training programme that were supposed to be paid to an aviation academy in the Czech Republic.

MARA files lawsuit against firm for alleged misappropriation of pilot training funds

KLANG (Oct 26): Selangor has recorded RM2.218 billion in revenue collection as of this month, surpassing this year’s target of RM2.2 billion, said Menteri Besar Datuk Seri Amirudin Shari.

Selangor surpasses revenue collection target, says MB

SINGAPORE/LONDON (Oct 27): Oil prices are expected to fall when trading resumes on Monday as Israel's retaliatory strike on Iran over the weekend bypassed Tehran's oil and nuclear infrastructure and did not disrupt energy supplies, analysts said.

Brent LCOc1 and US West Texas Intermedia...

Oil prices likely to fall after Israel shows restraint in strikes on Iran

(Oct 27): Taiwan Semiconductor Manufacturing Co (TSMC) suspended shipments to China-based chip designer Sophgo after a chip it made was found on a Huawei AI processor, according to two people familiar with the matter.

Sophgo had ordered chips from TSMC that matched the one found on Huaw...

TSMC suspended shipments to China firm after chip found on Huawei processor, sources say

WASHINGTON (Oct 26): The Washington Post reported on Saturday that South African-born billionaire businessman Elon Musk worked illegally in the United States during a brief period in the 1990s, while building a start-up company.

Washington Post reports Elon Musk briefly worked illegally in US in 1990s

DUBAI/JERUSALEM/CAIRO (Oct 26): Iran on Saturday played down Israel's overnight air attack against Iranian military targets, saying it caused only limited damage, as US President Joe Biden called for a halt to escalation that has raised fears of an all-out conflagration in the Middle East.

Iran plays down Israel's strikes, says they caused 'limited damage'

(Oct 27): Japan looks set for one of its closest national elections in years as voters go to the polls Sunday to decide whether to keep the scandal-tainted Liberal Democratic Party (LDP) in power.

Japan set for closest vote in years as LDP vies to stay in power

BEIJING (Oct 27): China's industrial profits plunged in September, extending their declines with the year's steepest monthly fall, official data showed on Sunday, as policymakers ramp up stimulus to revitalise economic growth.

China industrial profits fall 3.5% y-o-y in January-September

NOVI/KALAMAZOO, Michigan (Oct 26): Republican Donald Trump appealed to Muslim voters in Michigan on Saturday, as Michelle Obama made an impassioned plea on behalf of Kamala Harris at the Democrat's own rally in the battleground state.

Michelle Obama backs Harris in Michigan, where Trump courts Muslim vote

Time is the great equaliser. Anne-Laure Pressat, an executive director of esteemed cognac line Louis XIII, knows this well. Crafted over a century, each bottle is the product of a 150-year legacy, commemorating generations who dedicated their lives to the maison. For Pressant, who has enjoyed 12 years with the Rémy Cointreau group, every day is carried out with the next 100 years in mind — and the future she imagines is bright. At The Chamber in The Starhill here, Pressat talks about her most memorable moments with the King of Cognacs, the key to creating a brand that stands the test of time and honouring those who live on with us in spirit.

Captain of the cru

<p>The logistics warehousing sector has seen a growth spurt thanks to the opening up of the economy after the enforced lockdowns during the pandemic years. There are concerns about oversupply but are they warranted?</p>


Keeping the supply chain going

<p>DUBAI/JERUSALEM/CAIRO (Oct 26): Iran on Saturday played down Israel's overnight air attack against Iranian military targets, saying it caused only limited damage, as US&nbsp;President Joe Biden called for a halt to escalation that has raised fears of an all-out conflagration in the Middle East.</p>


<p>Time is the great equaliser. Anne-Laure Pressat, an executive director of esteemed cognac line Louis XIII, knows this well. Crafted over a century, each bottle is the product of a 150-year legacy, commemorating generations who dedicated their lives to the maison. For Pressant, who has enjoyed 12 years with the Rémy Cointreau group, every day is carried out with the next 100 years in mind — and the future she imagines is bright. At The Chamber in The Starhill here, Pressat talks about her most memorable moments with the King of Cognacs, the key to creating a brand that stands the test of time and honouring those who live on with us in spirit.&nbsp;</p>


<p>BEIJING (Oct 27): China's industrial profits plunged in September, extending their declines with the year's steepest monthly fall, official data showed on Sunday, as policymakers ramp up stimulus to revitalise economic growth.</p>


<p>NOVI/KALAMAZOO, Michigan (Oct 26): Republican Donald Trump appealed to Muslim voters in Michigan on Saturday, as Michelle Obama made an impassioned plea on behalf of Kamala Harris at the Democrat's own rally in the battleground state.</p>


<p>(Oct 27): Japan looks set for one of its closest national elections in years as voters go to the polls Sunday to decide whether to keep the scandal-tainted Liberal Democratic Party (LDP) in power.</p>


<p>WASHINGTON (Oct 26): The <em>Washington Post</em> reported on Saturday that South African-born billionaire businessman Elon Musk worked illegally in the United States during a brief period in the 1990s, while building a start-up company.</p>


<p>SINGAPORE/LONDON (Oct 27): Oil prices are expected to fall when trading resumes on Monday as Israel's retaliatory strike on Iran over the weekend bypassed Tehran's oil and nuclear infrastructure and did not disrupt energy supplies, analysts said.</p>

<p>Brent LCOc1 and US West Texas Intermedia...

<p>(Oct 27): Taiwan Semiconductor Manufacturing Co (TSMC) suspended shipments to China-based chip designer Sophgo after a chip it made was found on a Huawei AI processor, according to two people familiar with the matter.</p>

<p>Sophgo had ordered chips from TSMC that matched the one found on Huaw...

<p>KLANG (Oct 26): Selangor has recorded RM2.218 billion in revenue collection as of this month, surpassing this year’s target of RM2.2 billion, said Menteri Besar Datuk Seri Amirudin Shari.</p>
