<div class=newsTextDataWrapInner><p>SINGAPORE (April 28): DBS is maintaining its “buy” recommendation on Sheng Siong Group with a higher target price of $1.04, driven by new stores as the company continues to meet growth targets.</p></div>

<div class=newsTextDataWrapInner><p>DBS lead analyst Alfie Yeo said in a Thursday report that Sheng Siong is “on track towards attaining its 50-store target, while long term margin is expected to track to our expectations”. It is expected to add another four stores in the second quarter.</p></div>

<div class=newsTextDataWrapInner><p>In addition, Sheng Siong benefitted from government grants in the form of wage credit and special employment credit schemes, which accounted for $2.2 million out of a record-high $3.8 million in other operating income.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Our core numbers for FY17F are unchanged, except for higher government grants going forward. We see wage credits increasing in line with a higher store count, which lifts our earnings by 5%,” says Yeo.</p></div>

<div class=newsTextDataWrapInner><p>In 1Q16, Sheng Siong’s earnings jumped 17% y-o-y to $16.4 million.</p></div>

<div class=newsTextDataWrapInner><p>At 2.55pm, Sheng Siong shares are trading flat at 89 cents.</p></div>


SINGAPORE (April 28): DBS is maintaining its “buy” recommendation on Sheng Siong Group with a higher target price of $1.04, driven by new stores as the company continues to meet growth targets.

DBS lead analyst Alfie Yeo said in a Thursday report that Sheng Siong is “on track towards at...

Sheng Siong kept at “buy” by DBS with higher $1.04 target

Construction and trading group Pesona Metro Holdings Bhd (KL:PESONA) has secured a RM181.8 million contract for the construction of two blocks of 28-storey condominiums  in Cyberjaya.

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HKBN Ltd has received a non-binding preliminary indication of interest from I Squared Capital, potentially setting up a bidding war for the Hong Kong-listed broadband provider.

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Stellantis NV chief executive officer Carlos Tavares’ surprise departure leaves the maker of Jeep SUVs and Peugeot cars without clear leadership at a time of significant upheaval in the industry.

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Shares in Johor-based logistics provider Xin Hwa Holdings Bhd (KL:XINHWA) fell to their lowest on Monday, despite announcing that its cargo transport unit's goods transport licence suspension is set to be lifted a month ahead of schedule.

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Workers at nine Volkswagen car and component plants across Germany started strikes lasting several hours on Monday, bringing assembly lines to a halt as labour and management clash over the future of the carmaker's German operations.

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The amendments to the Malaysian Communications and Multimedia Commission Act 1998 (Act 589) aim to revise the composition of the Malaysian Communications and Multimedia Commission (MCMC), including the separation of roles between the chairman and chief executive officer, as well as expanding the commission's functions.

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The euro fell on Monday as a threat from France's far right to collapse its government kept European markets under pressure, while tech stocks lifted global shares and the dollar firmed in a key week for the US interest rate outlook.

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Majuperak Holdings Bhd (KL:MJPERAK), a 51.41%-owned subsidiary of the Perak State Development Corp, announced on Monday the appointment of Muhammad Yazurin Sallij Muhammad Yasin as its new chief executive officer (CEO).

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Prices of new homes in China rose at a faster pace in November, a private survey showed on Sunday, as a string of policies may be lending support to the ailing property market.

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Mass Rapid Transit Corp Sdn Bhd (MRT Corp) is inviting local and foreign companies to participate in the tender for the Penang Light Rail Transit (LRT) Mutiara Line project, which the federal government has allocated RM10 billion for.

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<p>Public Bank Bhd (KL:PBBANK) rose to its highest in more than a month on Monday, after the release of its third-quarter results last Friday, as analysts expect the country’s third-largest bank by assets to further write-backs of loan loss provisions in the coming quarters.&nbsp;</p>


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<p>KUALA LUMPUR (Dec 2): The High Court on Monday has deferred in delivering its decision on a class action suit by pensioner Aminah Ahmad against the Public Services Department and the government, to compel them to enforce the Court of Appeal’s (COA) mandamus order, which mandates the government to pay them pre-2013 pension adjustment arrears prospectively from January 2022.</p>


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<p>KUALA LUMPUR (Dec 2): Sime Darby Property Bhd (KL:SIMEPROP) said it has signed an agreement for a 20-year lease of data-centre facilities to Pearl Computing Malaysia Sdn Bhd for up to RM5.6 billion, beginning as early as 2027.</p>


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<p>Mass Rapid Transit Corp Sdn Bhd (MRT Corp) is inviting local and foreign companies to participate in the tender for the Penang Light Rail Transit (LRT) Mutiara Line project, which the federal government has allocated RM10 billion for.</p>


<p>Press Metal Aluminium Holdings Bhd (KL:PMETAL) jumped on Monday to its highest in more than one month, after the group's third-quarter results beat analysts' expectations last Friday, boosted by higher aluminium prices.</p>


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<p>CGS International views the recent lacklustre market performance as an excellent buying opportunity, as it&nbsp;sees potential price-earnings (P/E) expansion going into 2025.&nbsp;</p>


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<p>KUALA LUMPUR (Dec 2): Pensioners and army veterans have asked Prime Minister Datuk Seri Anwar Ibrahim to look into their plight, especially those who retired before 2013, as they are receiving less pension over the years, owing to the Pensions Adjustment (Amendment) Act 2013 (PAA 2013), which the courts have declared as being unconstitutional, but no action has been taken as yet by the government to set the matter right.</p>


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<p>KUALA LUMPUR (Dec 2): In November, the Malaysian manufacturing sector experienced a slowdown as demand conditions remained subdued, according to a statement by S&amp;P Global on Monday.</p>


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<p>The US will launch on Monday its third crackdown in three years on China's semiconductor industry, curbing exports to 140 companies including chip equipment maker Naura Technology Group, among other moves, said two people familiar with the matter.</p>


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<p>LBS Bina Bhd (KL:LBS) surged in early trade on Monday, after the group declared special dividends, subsequent to&nbsp;posting quarterly earnings which were boosted by a one-off disposal gain.</p>


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<p>Despite reporting a significant year-on-year (y-o-y) jump in earnings, analysts have cut their earnings forecasts for Velesto Energy Bhd (KL:VELESTO),&nbsp;citing a challenging outlook for the company's rigs in the coming year.</p>


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<p>THE FBM KLCI is highly likely to end the year in the positive zone — the first time after three consecutive years of closing lower, barring any unforeseen circumstances that may unfold before the countdown to the new year.</p>

<p>Year to date, the benchmark index has risen almost 10%, although...

Is 1,700-level a reachable target for FBM KLCI?

<p>Local institutions were net&nbsp;buyers of Malaysian equities for the fourth consecutive week, with net buying of RM207.7 million last week.</p>

<p>However, this was&nbsp;lower than the RM250.6 million recorded in the week prior.</p>


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<p>Fresh from having charges dropped in one criminal case, former prime minister Datuk Seri Najib Razak is back again in court, this time defending himself in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial.</p>


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<p>THERE has been a noticeable rise in the number of companies declaring special dividends since Budget 2025 was tabled in parliament in October. Market observers believe that the rush to pay out special dividends is likely due to the 2% tax on individuals with dividend income exceeding RM100,000 an...

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<p>Malaysia has urged Chinese companies to refrain from using it as a base to "rebadge" products to avoid US tariffs, its deputy trade minister said on Monday, amid increasing export restrictions and concerns of a US-China trade war.</p>


Malaysia urges firms from China to avoid using it to dodge US tariffs

<p>Shares in Johor-based logistics provider Xin Hwa Holdings Bhd (KL:XINHWA) fell to their lowest on Monday, despite announcing that its cargo transport unit's goods transport licence suspension is set to be lifted a month ahead of schedule.</p>


<p>KUALA LUMPUR (Dec 2): Analysts continued to be divided towards the prospects of banks, despite better-than-expected third quarter results and improving industry indicators, amid intense competition for deposits which could still hit net interest margin (NIM) in the near term.</p>


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<p>The government has decided to maintain the current price of raw water supplied to Singapore, as Malaysia may fall short of achieving the target of "zero dependency" on treated water from the city state by 2030.</p>


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<p>The foreign labour market is a lucrative business in Malaysia. Every year, up to 2.7 million foreign workers come into the country seeking employment legally</p>
