<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 27): Pantech Group Holdings Bhd rose 2.36% in active trade this morning after JF Apex Securities Research upgraded the stock to a “Buy” (from Hold) with a higher target price of 70 sen (from 61 sen).</p></div>

<div class=newsTextDataWrapInner><p>At 9.05am, Pantech rose 1.5 sen to 65 sen with 2.28 million share traded.</p></div>

<div class=newsTextDataWrapInner><p>In a note today, the research house said Pantech’s 1QFY18 net profit jumped 65% y-o-y to RM13.3 million on the back of higher revenue and improved margin.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>It said quarterly revenue increased 22% y-o-y to RM151.5 million due to higher demand from RAPID, Pengerang and improved overseas demand.</p></div>

<div class=newsTextDataWrapInner><p>JF Apex said Pantech’s three months’ net profit accounted for 35% of house full year estimate while first quarter revenue achieved 30% of FY18 forecast.</p></div>

<div class=newsTextDataWrapInner><p>“We are lifting our FY18 and FY19 forecasts by 6% and 5.5% respectively with expectation that earnings will continue to be boosted by RAPID and start-up losses in its new galvanising plant will ease,” it said.</p></div>


KUALA LUMPUR (July 27): Pantech Group Holdings Bhd rose 2.36% in active trade this morning after JF Apex Securities Research upgraded the stock to a “Buy” (from Hold) with a higher target price of 70 sen (from 61 sen).

At 9.05am, Pantech rose 1.5 sen to 65 sen with 2.28 million share tr...

Pantech active, up 2.36% on upgrade

Azerbaijan Airlines said the crash of its passenger plane in Kazakhstan that killed 38 people this week was caused by “external interference.”

Azerbaijan Airlines pauses over half of flights to Russia after crash

Terraform Labs Pte Ltd co-founder Do Kwon will be handed over to the US for prosecution, the government of Montenegro said, potentially ending a standoff over competing extradition demands by the US and Kwon’s native South Korea.

Crypto mogul Do Kwon to be extradited to US, Montenegro says

President-elect Donald Trump thrust himself into the high-stakes fight over the fate of TikTok in the US by urging the Supreme Court to pause a law that would ban the social media platform if it isn’t sold by its Chinese parent company.

Trump asks Supreme Court to pause law threatening TikTok ban

After closing the books on a banner year for US stocks, investors expect to ride seasonal momentum into mid-January when a slew of economic data and a transition of power in Washington could send markets moving.

Trump's first actions and job data to test US market in January

US stocks wrapped up Christmas week on Friday with retracements of double-digit uptrends, and, alongside the dollar to a smaller degree, succumbed to profit taking in illiquid markets heading into the last weekend of 2024.

Stocks hit, dollar slips in illiquid year-end profit taking

Oil prices settled more than 1% higher on Friday and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from US crude inventories last week.

Oil settles up over 1% on large draw from US crude stocks

Wall Street's holiday cheer ended abruptly on Friday, with all three main benchmarks closing lower in a broad-based sell-off affecting even tech and growth stocks that had driven markets higher through much of the shortened trading week.

Wall Street finishes down after sell-off at end of strong holiday-shortened week

SCGM Bhd's (KL:SCGM) substantial shareholders are to inject their agriculture-related business into the cash company in return for RM207.94 million worth of shares as part of the company's regularisation plan.

SCGM formalises injection of agriculture business, proposes 25 sen special dividend 

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

ViTrox, Kim Loong Resources, Crescendo, JcbNext, OCB, Paragon Globe, Tropicana, Asia Poly, Nova MSC, PUC, SCGM

A mystery seller is asking US$200 million (RM893.43 million) for an empty waterfront lot next door to the properties Jeff Bezos bought in South Florida.

The roughly 1.84 acre lot (0.74 hectare) is located at Indian Creek, a man-made barrier island that’s been dubbed “Billionaire Bunker.” Ilya Reznik, who’s brokering the transaction, declined to identify the seller but said they are “willing to negotiate” on price.

Bezos’ Miami neighbour seeking US$200 mil for empty lot

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


<p>SCGM Bhd's (KL:SCGM) substantial shareholders are to inject their agriculture-related business into the cash company in return for RM207.94 million worth of shares as part of the company's regularisation plan.</p>


<p>Wall Street's holiday cheer ended abruptly on Friday, with all three main benchmarks closing lower in a broad-based sell-off affecting even tech and growth stocks that had driven markets higher through much of the shortened trading week.</p>


<p>A mystery seller is asking US$200 million (RM893.43 million) for an empty waterfront lot next door to the properties Jeff Bezos bought in South Florida.</p>

<p>The roughly 1.84 acre lot (0.74 hectare) is located at Indian Creek, a man-made barrier island that’s been dubbed “Billionaire Bunker.” Ilya Reznik, who’s brokering the transaction, declined to identify the seller but said they are “willing to negotiate” on price.</p>


<p>Shell has shut down one of its oil processing units at the Shell Energy and Chemicals Park on Singapore’s Pulau Bukom to facilitate an investigation into a suspected leak in the system.</p>


Shell shuts down oil processing unit at Singapore's Pulau Bukom to probe leak

<p>Vietnamese Prime Minister Pham Minh Chinh instructed the investment ministry and other authorities to work on development scenarios and measures that will enable the country to attain “double-digit” growth in gross domestic product next year.</p>


Vietnam PM seeks steps for double-digit GDP growth next year

<p>President-elect Donald Trump thrust himself into the high-stakes fight over the fate of TikTok in the US by urging the Supreme Court to pause a law that would ban the social media platform if it isn’t sold by its Chinese parent company.</p>


<p>Brazil’s annual inflation unexpectedly slowed in early December as energy costs dropped, giving central bankers limited relief as they pledge two more jumbo interest rate hikes by March.</p>

<p>Official data released on Friday showed consumer prices rose 4.71% from a year earlier, below the 4.83% median estimate in a <em>Bloomberg </em>survey of economists and the prior reading of 4.77%.</p>


Brazil’s annual inflation unexpectedly slows, giving central bank limited respite

<p>After closing the books on a banner year for US stocks, investors expect to ride seasonal momentum into mid-January when a slew of economic data and a transition of power in Washington could send markets moving.</p>


<p>Terraform Labs Pte Ltd co-founder Do Kwon will be handed over to the US for prosecution, the government of Montenegro said, potentially ending a standoff over competing extradition demands by the US and Kwon’s native South Korea.</p>


<p>Azerbaijan Airlines said the crash of its passenger plane in Kazakhstan that killed 38 people this week was caused by “external interference.”</p>
