<div class=newsTextDataWrapInner>SINGAPORE (May 9): With Raffles Medical Group trading ex-entitlement for its one-to-three share split today (9 May), OCBC Investment research has adjusted its fair-value estimate to $1.57 while maintaining its “hold” rating.</div>

<div class=newsTextDataWrapInner>The broker had downgraded the stock from a “buy” post-1Q16 results due to limited upside.</div>

<div class=newsTextDataWrapInner>It adds that it still likes the group’s long term plans of expanding capacity as well as geographical presence. This year, RMG’s Holland Village mall is slated to be ready by June, which will house a range of their clinics. In 2017, it will expand its current hospital campus in Bugis. As for the Shanghai hospital, due to a long approval process in China, management now expects the hospital to be ready by&nbsp;Dec 31, 2018.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>OCBC urges longer-term investors to look for buying opportunities at $1.45 or lower.&nbsp;</div>

SINGAPORE (May 9): With Raffles Medical Group trading ex-entitlement for its one-to-three share split today (9 May), OCBC Investment research has adjusted its fair-value estimate to $1.57 while maintaining its “hold” rating.

The broker had downgraded the stock from a “buy” post-1Q16 res...

Raffles Medical Group kept at 'hold' by OCBC with $1.57 fair value

Main-Market bound Life Water Bhd could see a 16.9% rise above its initial public offering (IPO) price of 65 sen apiece, according to Public Investment Bank (PublicInvest).

Life Water shares worth 16.9% more than IPO price — PublicInvest

SYDNEY (Oct 30): Australia said it was boosting its missile defence capability amid "significant concerns" about China's test of an ICBM in the South Pacific, and will bolster weapons stockpiles and exports to security partners as the region enters a new "missile age".

Australia to ramp up missile production as Indo Pacific enters new missile age

(Oct 30): Visa is planning to lay off about 1,400 employees and contractors by the end of the year, the Wall Street Journal reported on Tuesday, as the card giant looks to streamline its international business.

About 1,000 of the cuts are expected to eliminate technology positi...

Visa to lay off around 1,400 employees and contractors, WSJ reports

KUALA LUMPUR (Oct 30): Stock exchange operator Bursa Malaysia Bhd (KL:BURSA) reported its highest quarterly net profit in three years, thanks to higher income across its business segments, including the securities and derivatives market.

Bursa Malaysia’s net profit surges to three-year high in 3QFY2024

Rachel Reeves will pledge to “rebuild Britain” with her first budget, an historic moment that will include a major package of tax hikes and extra borrowing likely to define British politics for the rest of the decade.

Reeves to raise taxes to ‘rebuild’ UK in high-wire first budget

(Oct 30): A liquidity crunch is brewing across the developing world, raising pressure on US-backed international financial institutions to help poor nations meet mounting debt repayments and drive much-needed investments.

The Washington-based International Monetary Fund and World B...

Looming debt spiral in emerging markets tests IMF and World Bank safety net

(Oct 29): Colin Bell, who is stepping down from running HSBC Holdings Plc’s European operations at the end of the year, will join the board of Singapore-based investment firm Serendipity Capital.

Departing HSBC Europe exec to join Serendipity Capital board

(Oct 30): Sales of debt backed by everything from auto loans to airplane leases to Subway franchise fees have hit their highest level since the financial crisis, as banks try to meet new capital rules and insurance companies clamor for higher-yielding debt.

Asset-backed securities sales...

Asset-backed debt sales top $313 billion, beating post-financial crisis record

Japanese Prime Minister Shigeru Ishiba may find that the price for securing the support of a small opposition party and hanging on to power after a major election setback is to offer part-time workers a tax break.

Japan's LDP open to economic policies of small opposition party to keep power — reports

KUALA LUMPUR (Oct 30): Malaysia Digital Economy Corporation (MDEC) has partnered with regional venture capital firms to bring in up to RM200 million aimed at strengthening the country’s digital economy.

MDEC partners with regional venture capital firms to bring in RM200m investment

The High Court on Wednesday ordered former prime minister Datuk Seri Najib Razak to enter his defence against all four abuse of power and 21 money-laundering charges for allegedly receiving gratifications worth RM2.27 billion in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial.

PRIMA FACIE: Najib ordered to enter defence for all charges in 1MDB-Tanore trial, chooses to testify under oath in his defence

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

Symphony Life, Frontken, Unisem, LPI Capital, Infoline Tec, Tasco, TM, Kumpulan Kitacon, Chin Teck, Techna-X

KUALA LUMPUR (Oct 30): IJM Land Bhd’s chief executive officer (CEO) Datuk Wong Tuck Wai is retiring after a 28-month stint at the property division of conglomerate IJM Corp Bhd (KL:IJM),&nbsp;internal communication showed.

IJM Land’s CEO Wong Tuck Wai retires, operations chief Tony Ling to take over

Former prime minister Datuk Seri Najib Razak's wife Datin Seri Rosmah Mansor and their eldest son Datuk Mohamad Nizar Mohamad Najib arrived at the Kuala Lumpur Courts Complex at 9.33am on Wednesday.

Rosmah, son Nizar arrive at court to show support for Najib

Gold reached a record in early Asian trading on Wednesday, as traders digested the latest US economic data and weighed potential market disruption ahead of the looming presidential election.

Gold hits fresh record high as US data, election race fan demand

Axis Real Estate Investment Trust (KL:AXREIT) has raised RM449.73 million through a private placement exercise, which will be used to support the REIT's strategy to pursue high-quality, yield-accretive acquisitions, and enhance its existing portfolio.

Axis REIT successfully raises RM449.7m via private placement

The fast acceleration of the electric vehicle (EV) market over the last few years has hit a speed &nbsp;bump as demand for the vehicles &nbsp;has noticeably declined recently.&nbsp;

Global EV demand plateaus

Asian stocks eked out gains following mixed results from Wall Street tech companies and as traders prepare for next week’s US election and Federal Reserve (Fed)&nbsp;rate decision.

Asian stocks climb after mixed tech results

A rally in some of the largest tech companies pushed stocks higher, with Alphabet Inc rising in late hours as earnings beat estimates.

The Nasdaq Composite hit an all-time high, while the S&amp;P 500 saw a mild gain. Between Tuesday and Thursday, big techs with a combined market value of more than US$12 trillion (RM53 trillion) report their quarterly results. Shares of Google’s parent climbed 3.5% after the close of regular trading. Advanced Micro Devices Inc&nbsp;sank 6% amid a lacklustre revenue forecast.

Nasdaq hits record as Alphabet jumps in late hours

（吉隆坡30日讯）高庭今日宣判，前首相拿督斯里纳吉涉及一马发展公司（1MDB）22亿7000万令吉资金遭挪用的4项滥权和21项洗钱罪状表面罪名成立，纳吉须出庭自辩。

1MDB案25项滥权洗钱罪状表罪成立 纳吉选证人栏宣誓自辩

WASHINGTON (Oct 29): Republican US presidential candidate Donald&nbsp;Trump&nbsp;said on Tuesday that the European Union (EU) would have to “pay a big price” for not buying enough American exports if he won the Nov&nbsp;5 election.

Europe will pay a ‘big price’, Trump warns on tariffs

Google parent Alphabet Inc&nbsp;showed on Tuesday that an expensive foray into artificial intelligence (AI) is starting to pay off, delivering better-than-expected traction for its cloud computing business and driving more usage for its flagship search engine.

Alphabet’s pricey AI bet pays off with growth in cloud, search

Investors are selling yen and taking shelter in cash, India, pockets of China's markets and Singapore dollars ahead of a US&nbsp;election that could shake out global money and trade flows.

Investors take cover in Asia ahead of US election

The Ministry of Investment, Trade and Industry (Miti) is conducting four anti-dumping investigations involving iron and steel products and plastic&nbsp;imported from China.

Miti conducting anti-dumping probes into iron, steel products, plastic from China, Dewan Rakyat told

The&nbsp;mechanism for the proposed&nbsp;targeted subsidy for RON95, set for implementation in the middle of next year, is still being refined by the Ministry of Finance (MOF).

Targeted RON95 subsidy mechanism still being refined — MOF

Oil extended losses following its biggest drop in more than two years on Monday as signs of a potential de-escalation of Israel’s Lebanon offensive offset the prospect of more stimulus in China.

Oil prices fall for second day as Israel talks outweigh China stimulus

Malaysia and the European Union (EU) are looking into the next steps towards officially resuming&nbsp;negotiations on the&nbsp;Malaysia-EU Free Trade Agreement (FTA).

Zafrul: Malaysia looking into steps to resume FTA negotiations with EU

US Treasury Secretary Janet Yellen said that fraud in the banking system is becoming a huge problem, and that her department is now using artificial intelligence (AI) to detect and deal with the issue.&nbsp;

Yellen says fraud is huge, growing problem in US banking system

The Bank of Japan (BOJ) is widely expected to stand pat on Thursday in the face of elevated uncertainty, as financial markets brace for the US presidential election after Japan’s polls resulted in a lack of clarity over its next government.

BOJ to sit tight as Japan, US elections elevate uncertainty

NEW YORK (Oct 29):&nbsp;A US bankruptcy judge on Tuesday approved Tupperware Brands’&nbsp;proposal to sell its assets to its lenders, clearing the company to exit bankruptcy with most of its operations intact.