<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 3): RHB Retail Research said Optimax Holdings Bhd is set to propel towards its historical high after it surpassed the 79 sen immediate resistance on Wednesday (Nov 2), supported by strong trading volume above the 21-day average line.</p></div>

<div class=newsTextDataWrapInner><p>In a trading stocks note on Thursday, the research house said as Wednesday’s closing drew&nbsp;a “higher high” bullish structure, the stock is likely to jump higher towards the 84.5 sen historical high, before possibly printing a new high at 90 sen.</p></div>

<div class=newsTextDataWrapInner><p>“Conversely, the bullish momentum may reverse if it falls under the 73 sen support, forming a 'lower low'&nbsp;bearish structure below the average line,” it said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>


KUALA LUMPUR (Nov 3): RHB Retail Research said Optimax Holdings Bhd is set to propel towards its historical high after it surpassed the 79 sen immediate resistance on Wednesday (Nov 2), supported by strong trading volume above the 21-day average line.

In a trading stocks note on Thursda...

Optimax set to propel towards historical high, says RHB Retail Research

Stocks failed to gain traction and bonds climbed, with polls continuing to depict a tight race in the US presidential election ahead of the Federal Reserve rate decision.

In the run-up to Tuesday’s vote, equity traders decided to stay on the sidelines as a flurry of polls showed Americans remain narrowly split between Donald Trump and Kamala Harris. The likelihood of a disputed result could eventually drag the vote count out for weeks or even months. For many, that means one thing — a potential increase in volatility. Treasuries rose across the curve and the dollar dropped the most in over a month.

Wall Street shuns risk before coin-toss election

Prime Minister Datuk Seri Anwar Ibrahim is set to invite China’s President Xi Jinping to attend the Asean Summit and the Asean-GCC Summit next year.

This invitation corresponds with Malaysia’s role as the Asean chair for 2025.

Anwar to extend invitation to Xi Jinping for 2025 Asean Summit

New orders for US-manufactured goods fell for a second straight month in September, and business spending on equipment appears to have pulled back in the third quarter.

US factory orders fall a second straight month in September

US stock indexes were trading flat to lower on Monday, as investors braced for a pivotal week for global markets in which Americans will elect a new president and the Federal Reserve is likely to cut its benchmark policy rate.

Wall Street struggles for direction as uncertainty around US election grows

Chile’s economic activity posted its biggest monthly plunge since July 2022 in September, prompting the government to scrap its growth forecast for this year and stoking bets on more interest rate cuts.

Chile economic activity plunges most since 2022 in ‘appalling’ report

Quincy Jones, the man known simply as "Q," was a huge influence on American music in his work with artists ranging from Count Basie to Frank Sinatra and reshaped pop music in his collaborations with Michael Jackson.

US music legend Quincy Jones dies at 91

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

SD Guthrie, AME Elite, Techna-X, Star Media, JAKS Resources, Datasonic, Revenue Group, Dayang, Carimin, MN Holdings, Tuju Setia, Bina Puri, Elridge, MCE Holdings, Bintai Kinden

Prime Minister Datuk Seri Anwar Ibrahim has arrived in Shanghai, marking his first stop before Beijing, as part of a working visit from Nov 4-7.

Anwar arrives in Shanghai, first stop of working visit to China

Commerzbank AG chief executive officer Bettina Orlopp is seeking to unlock more capital to pay out or invest, as she makes the case for an independent bank in the face of a potential takeover by rival UniCredit SpA.

Commerzbank looks to free up capital to fend off UniCredit

Fox Corp beat Wall Street expectations for first-quarter revenue on Monday, as the media company benefitted from higher political advertising ahead of the US presidential election, sending its shares up 5% in pre-market trading.

Fox Corp beats revenue estimates on robust political advertising

<p>Datasonic Group Bhd (KL:DSONIC) is buying a 51% stake in Innov8tif Holdings Sdn Bhd from Revenue Group Bhd (KL:REVENUE)&nbsp;for RM40 million cash. &nbsp;</p>

<p>Innov8tif, a two-year-old company, specialises in ID verification technology to support e-know-your-customer (e-KYC) and e-know-your-business (e-KYB) and anti-fraud processes, customer onboarding process automation and mobile biometric authentication, said Datasonic in the filing to Bursa Malaysia.</p>


Datasonic buys 51% stake in Innov8tif Holdings from Revenue Group for RM40 mil cash

<p>TGI Fridays Malaysia's operations in the country will continue to operate as usual and remain unaffected by the recent bankruptcy filing of TGI Fridays Inc in the US, says Techna-X Bhd (KL:TECHNAX), which owns Craveat International Sdn Bhd — the master franchisee and developer for TGI Fridays Malaysia.</p>


TGI Fridays' ops in Malaysia unaffected by bankruptcy of US parent, says master franchisee 

<p>The Malaysian man who was reportedly a mercenary fighting in Ukraine against Russia has been identified as Lee Bing Hang and is believed to be still alive and well.</p>

<p>Inspector-General of Police Tan Sri Razarudin Husain said preliminary investigations found Lee, 20, was wounded in the ankle by shrapnel from a Russian drone and has completed his treatment.</p>


Lee Bing Hang, Malaysian mercenary in Ukraine is still alive — IGP

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Monday.</p>


<p>Genetec Technology Bhd (KL:GENETEC) has proposed to sell its 51% stake in CLT Engineering Sdn Bhd (CLT) to its former executive director Tan Moon Teik for RM21.63 million cash.</p>


Genetec sells its entire stake in subsidiary to ex-director

<p>The Malaysian Anti-Corruption Commission (MACC) raided the office of a local fashion business, along with three other business premises on Monday, in a probe into significant investment losses incurred by Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB).</p>


MACC raids four business premises in FashionValet probe 

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>Newly-listed Elridge Energy Holdings Bhd (KL:ELRIDGE) said it has entered into a deal to supply biomass feedstock to a Japanese trading company for 15 years.</p>


Elridge Energy signs deal to supply biomass feedstock to Japanese company for 15 years

<p>MN Holdings Bhd (KL:MNHLDG), an underground utilities and substation engineering specialist, has secured various contracts worth RM315 million since its new financial year started on July 1, 2024, pushing its order&nbsp;book to RM625.8 million. &nbsp;</p>


MN Holdings's order book hits record high at RM625.8 mil

<p>Carimin Petroleum Bhd (KL:CARIMIN) said it has secured a five-year contract from Shell for the provision of pan-Malaysia maintenance, construction, modification (MCM), and hook-up and commissioning (HUC) services.</p>


Carimin Petroleum gets five-year services contract from Shell

<p>Khee San Bhd (KL:KHEESAN) has signed an underwriting agreement with M&amp;A Securities Sdn Bhd, Kenanga Investment Bank Bhd (KL:KENANGA) and Malacca Securities Sdn Bhd for the candy maker’s rights issue with warrants to raise up to RM96.1 million.</p>


M&A Securities, Kenanga IB, Malacca Securities jointly underwrite Khee San’s rights issue

<p>The Malaysian Anti-Corruption Commission (MACC) has denied issuing any statement claiming that RM94 million was discovered in the residence of a former minister.</p>

<p>This follows an allegation by Datuk Awang Solahuddin Hashim (PN-Pendang), who, during the Supply Bill 2025 debate on Monday, claimed that RM94 million was found at the residence of a former human resources minister from the DAP.</p>


MACC denies making any statement claiming RM94 mil found in ex-minister's house

<p>Destini Bhd (KL:DESTINI) reported a net profit of RM5.33 million for the first quarter ended Sept 30, 2024, (1QFY2025) compared to a net loss of RM6.8 million a year ago, driven by higher sales delivery and improved operational efficiency.</p>


Destini turns profitable for 1QFY2025, plans 10% private placement

<p>Bintai Kinden Corp Bhd (KL:BINTAI) has secured a RM61.22 million contract for the construction of a housing project in Jasin, Melaka.</p>


Bintai Kinden clinches RM61m housing construction job in Melaka

<p>Prime Minister Datuk Seri Anwar Ibrahim will receive a great honour since Chinese President Xi Jinping has agreed to host a dinner for him at The Great Hall of People in Beijing on Nov 7.</p>


President Xi to host dinner for PM Anwar

<p>MCE Holdings Bhd (KL:MCEHLDG), a manufacturer of automotive electronic and mechatronic parts, is partnering with Nanjing Chuhang Technology Co Ltd to exclusively develop, manufacture and market a sensing radar technology for autonomous driving application for global markets, excluding China.</p>


MCE explores development of autonomous driving solutions with Chinese company

<p>Prime Minister Datuk Seri Anwar Ibrahim has arrived in Shanghai, marking his first stop before Beijing, as part of a working visit from Nov 4-7.</p>


<p>US stock indexes were trading flat to lower on Monday, as investors braced for a pivotal week for global markets in which Americans will elect a new president and the Federal Reserve is likely to cut its benchmark policy rate.</p>


<p>The Association of Banks in Malaysia (ABM) announced on Monday that GX Bank Bhd and Boost Bank Bhd have joined as its newest members.</p>

<p>In a statement, ABM executive director Dr Amina Kayani said the inclusion of GX Bank and Boost Bank signals a shift towards a banking ecosystem where both traditional and digital banking entities are united in their purpose.</p>


ABM welcomes digital banks GX and Boost as new members

<p>Prime Minister Datuk Seri Anwar Ibrahim is set to invite China’s President Xi Jinping to attend the Asean Summit and the Asean-GCC Summit next year.</p>

<p>This invitation corresponds with Malaysia’s role as the Asean chair for 2025.</p>
