<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 8): Sime Darby Property Bhd rose 2.50% in early trade this morning after CIMB IB Research initiated coverage on the stock at RM1.16 with an “Add’ rating and target price of RM1.85 and said the group had the largest landbank among property developers in Malaysia as at September 2017.</p></div>

<div class=newsTextDataWrapInner><p>At 9.10am, Sime Darby Property rose 3 sen to RM1.23 with 401,800 shares traded.</p></div>

<div class=newsTextDataWrapInner><p>In a note Dec 7, the research house said it expects the group to benefit from the upcoming high-speed rail (HSR) project and development of Malaysia Vision Valley (MVV) given its strategically-located landbank.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“While we believe its near-term earnings growth outlook might be volatile, we see potential value enhancement from the ongoing monetisation of its assets.</p></div>

<div class=newsTextDataWrapInner><p>“Initiate coverage with Add rating and target price of RM1.85, a 50% discount to its RNAV. This represents circa 60% upside from its current share price of RM1.16,” it said.</p></div>


KUALA LUMPUR (Dec 8): Sime Darby Property Bhd rose 2.50% in early trade this morning after CIMB IB Research initiated coverage on the stock at RM1.16 with an “Add’ rating and target price of RM1.85 and said the group had the largest landbank among property developers in Malaysia as at September 2...

Sime Darby Property up 2.50% after CIMB Research starts coverage

South Korea’s main opposition party said it will start impeachment proceedings against Prime Minister and Acting President Han Duck-soo.

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Swiss private equity firm Partners Group Holding AG is looking to rearrange its India portfolio that has quadrupled to more than US$8 billion (RM35.88 billion) since it first started investing in the country a decade ago, according to a top company official.

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Bitcoin is flagging in the last leg of a record-breaking year.

Bitcoin momentum ebbs heading into last stretch of record year

Agrochemicals giant Syngenta Group Co signed a US$4.5 billion (RM20.2 billion) sustainability-linked loan, according to a company statement on Monday, in Asia’s largest such dollar facility this year.

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Panama President Jose Raul Mulino rallied support from former presidents in defence of the country’s canal following threats from Donald Trump to reimpose US control over the waterway.

Panama president rallies support for canal after Trump threat

Stocks in Asia traded in tight ranges amid relatively thin holiday trading after a rally in some of the world’s largest technology companies boosted US benchmarks.

Asian stocks in narrow ranges after US tech boost

Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by US economic data and rising oil demand in India, the world's third-largest oil importer.

Oil prices up in thin pre-Christmas trade

Taiwan Semiconductor Manufacturing Co (TSMC) shares touched a record high, as the world’s largest contract chipmaker is poised to cap its best annual stock performance in 25 years.

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


KLCCP Stapled, Tuju Setia, Coastal Contracts, Powerwell, Prolintas, Malayan Flour Mills, Malakoff, Heitech Padu, Supercomnet, ECM Libra, Esthetics International 

<p>The Energy Commission (EC) was to inform winners of the fifth large scale solar bidding round (LSS5) beginning Monday, following nine months of deliberation since it was opened in April this year.</p>


Energy Commission says LSS5 bids finalised but mum on winners

<p>Singapore forged ahead with efforts to formulate a digital-assets hub in 2024, while rival financial center Hong Kong has struggled to gain traction.</p>


Singapore pulls ahead of Hong Kong in race to be crypto hub

<p>Stocks in Asia traded in tight ranges amid relatively thin holiday trading after a rally in some of the world’s largest technology companies boosted US benchmarks.</p>


<p>Corporate services provider Amicorp Group has denied allegations it knowingly facilitated more than US$7 billion (RM31.43 billion) in fraudulent transactions related to the misappropriation of funds from scandal-hit Malaysian state fund 1Malaysia Development Bhd (1MDB).</p>


Amicorp Group denies alleged fraud of over US$7b in 1MDB scandal

<p>The Malaysian Communications and Multimedia Commission (MCMC) is taking immediate action to address scams relating to MyPR (Red IC) application on Facebook, said Deputy Communications Minister Teo Nie Ching.</p>


Deputy minister urges caution, vows swift action against red IC scams

<p>China’s real estate woes look set to get worse before they get better, raising the prospect of a miserable year for property shares despite a recent bounce.</p>


China’s property stock rebound faces a reality check in 2025

<p>A rally in some of the world’s largest technology companies spurred a rebound in stocks, following a brief slide fueled by weaker-than-expected data on US consumer confidence.</p>

<p>In a thin trading session at the start of a holiday-shortened week, the S&amp;P 500 finished near session highs. Nvidia Corp., Meta Platforms Inc. and Tesla Inc. drove a gauge of the “Magnificent Seven” megacaps up almost 1.5%.</p>


US stocks get boost from tech at start of Christmas week

<p>Taiwan Semiconductor Manufacturing Co (TSMC) shares touched a record high, as the world’s largest contract chipmaker is poised to cap its best annual stock performance in 25 years.</p>


<p>Walmart Inc and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers without their consent, a US consumer protection agency said on Monday.</p>


CFPB sues Walmart, fintech partner for illegal account openings

<p>Wall Street's main indexes were mixed at the start of a holiday-shortened week on Monday, after a stopgap government funding bill averted a partial shutdown and investors braced for a slower pace of rate cuts from the US central bank next year.</p>


Wall Street opens mixed as holiday-shortened week starts

<p>US consumer confidence unexpectedly sank in December for the first time in three months on concerns about the outlook for the economy amid uncertainty around the Trump administration’s policies.</p>


US consumer confidence falls as politics weigh on outlook

<p>Daiwa Securities Group Inc may need more time to achieve profit in China, according to the head of Japan’s second biggest brokerage, reflecting how investment banks continue to struggle on the mainland.</p>


Daiwa’s China venture may take longer to make profit, says CEO 

<p>New-home sales in the US rebounded last month as builders and consumers sealed deals that had been delayed by storms in the South, and buyers took advantage of heavy sales incentives.</p>

<p>Sales of new single-family homes increased 5.9% last month to a 664,000 annualised rate, according to government data issued on Monday.</p>


US new-home sales rebound in November after storm-stricken month

<p>South Korea's consumer sentiment dropped sharply this month to hit the weakest level in more than two years on growing worries about political uncertainty following parliament's impeachment of President Yoon Suk Yeol.</p>


South Korea consumer sentiment weakest since 2022 on political uncertainty

<p>Orders placed with US factories for business equipment rebounded in November, posting the strongest monthly advance in over a year.</p>


Orders for US business equipment rise by most in over a year

<p>Australia’s balance of risks is tilted to the downside, including a potential stall in disinflation, the International Monetary Fund (IMF) said, calling on the government to avoid excessive spending.</p>


Australia’s risks tilt to downside, IMF says, urging restraint

<p>Oil prices were up on Tuesday in thin trade ahead of the Christmas Day holiday, with prices supported by US economic data and rising oil demand in India, the world's third-largest oil importer.</p>


<p>Panama President Jose Raul Mulino rallied support from former presidents in defence of the country’s canal following threats from Donald Trump to reimpose US control over the waterway.</p>
