<div>This article first appeared in <em>The Edge Financial Daily</em>, on March 10, 2017.<br />
<br />
&nbsp;</div>

<div class=newsTextDataWrapInner><p><strong>EITA Resources Bhd (-ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>SHARES in EITA Resources Bhd (fundamental: 1.4/3, valuation: 1.2/3) closed down three sen or 2.26% at RM1.30 yesterday, after 422,500 shares changed hands, compared with its 200-day average volume of 55,354 shares.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Last month, the homegrown elevator manufacturer said it was targeting to raise its export contribution to 50% from close to 20% currently, targeting mainly the Asean and Middle Eastern markets.</p></div>

<div class=newsTextDataWrapInner><p>The group’s export revenue grew some 18% in the financial year ended Sept 30, 2016 (FY16), to RM56.3 million from RM47.6 million in FY15.</p></div>

<div class=newsTextDataWrapInner><p>For the first quarter ended Dec 31, 2016, Eita Resources’ net profit jumped near 2.5 times to RM10.43 million, from RM4.24 million, on higher unrealised foreign exchange gain.</p></div>

<div class=newsTextDataWrapInner><p>Quarterly revenue grew 14.7% to RM82.69 million from RM72.09 million, mainly due to higher revenue recorded in its manufacturing and services segments.</p></div>

<div class=newsTextDataWrapInner><p>At the current share price, Eita Resources is trading at 1.21 times its book value.</p></div>


This article first appeared in The Edge Financial Daily, on March 10, 2017.

 

EITA Resources Bhd (-ve)

SHARES in EITA Resources Bhd (fundamental: 1.4/3, valuation: 1.2/3) closed down three sen or 2.26% at RM1.30 yesterday, afte...

Stock With Momentum: EITA Resources

Former Treasury secretary Larry Summers said the Federal Reserve’s decision to cut interest rates last month was a mistake after new data showed that US job growth last month topped all estimates.

Larry Summers says 50-basis-point rate cut in September ‘a mistake’

US manufacturers shed 7,000 jobs in September, a weak spot in an otherwise strong employment report.

The US has lost 34,000 manufacturing jobs in the past two months, according to Bureau of Labor Statistics data out on Friday.

Manufacturing is weak spot in surprisingly strong US jobs data

A total of 13 contractors on Friday received their letters of acceptance (SST) to carry out Phase 1B of the Pan Borneo Highway (LPB) project in Sabah. 

Works Minister Datuk Seri Alexander Nanta Linggi officiated the SST handover ceremony at the Sabah International Convention Centre here.

13 contractors receive acceptance letters for Phase 1B of Pan Borneo Highway project

Israel said it had targeted the intelligence headquarters of Hezbollah in Lebanon overnight and was assessing the damage on Friday after a series of strikes on senior figures in the group that Iran's Supreme Leader dismissed as counterproductive.

Israel targets Hezbollah intel HQ in Lebanon, Iran says it will not back down

Sarawak Premier Tan Sri Abang Johari Tun Openg leads the list of 1,376 recipients of Sabah state honours, decorations and medals in conjunction with the 71st official birthday celebration of the Yang Dipertua Negeri Sabah, Tun Juhar Mahiruddin on Saturday.

Sarawak Premier leads list of 1,376 recipients of Sabah state honours

Shipping giant AP Moller-Maersk A/S expects the industry’s global regulator next year to approve a charge on vessels’ greenhouse gas (GHG) emissions.

At International Maritime Organization (IMO) talks in London this week, nations have been inching towards plans to reign in emissions from a sector that annually spews about a billion tonnes of carbon dioxide (CO2) into the atmosphere.

Maersk expects ship regulator to approve global CO2 levy in 2025

Prime Minister Datuk Seri Anwar Ibrahim has described the Chief Advisor of Bangladesh's Interim Government, Dr Muhammad Yunus, as a compassionate human being that the world needs.

He said the Nobel laureate had touched the hearts and souls of the marginalised and less fortunate.

Muhammad Yunus a compassionate human being the world needs — Anwar

In the excitement brought about by the surge of foreign investments in Malaysia’s digital economy, the government wants to see more homegrown technology companies “jump on the bandwagon” and expand their businesses in the country, Digital Minister Gobind Singh Deo said.

Govt wants more local tech companies to expand their business in Malaysia — Gobind

The recent clash between several Palestinians and security personnel at Wisma Transit Kuala Lumpur cannot be used as an excuse to send them back home.

Home Minister Datuk Seri Saifuddin Nasution Ismail said it did not make sense for the government to do so as their country was embroiled in war and urged Malaysians not to come to any general conclusions based on the incident and blame Palestinians in general.

Disturbance by Palestinians no excuse to send all of them back, says Saifuddin 

A recent altercation between Palestinians accommodated at Wisma Transit in Kuala Lumpur and security personnel has been resolved, said Palestine’s ambassador to Malaysia Walid Abu Ali.

Expressing regret over the incident, which involved two Palestinian women and went viral, Walid said it did not reflect the conduct of Palestinians in general.

Issue involving Palestinians at transit centre resolved, says ambassador

<p>Privately owned rail construction company Dhaya Maju Infrastructure (Asia) Sdn Bhd is taking up a 57.52% stake in Pestech International Bhd (KL:PESTECH) for RM160 million through a restricted issue.</p>


Dhaya Maju to acquire 57.52% stake in Pestech for RM160 mil or 12 sen per share

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


HeiTech Padu, Pestech, Velesto, OCR, Kumpulan Jetson, Solar District Cooling, EG Industries, Sanichi, Aneka Jaringan and MyTech

<p>American hip-hop producer and rapper Kasseem Dean, popularly known as Swizz Beatz, allegedly received US$7.3 million (RM30.8 million) in stolen 1Malaysia Development Bhd (1MDB) funds, the Law360 legal news service reported, citing a lawsuit filed in the US.</p>


Hip-hop producer Swizz Beatz faces lawsuit for allegedly receiving US$7.3 mil in 1MDB funds

<p>OCR Group Bhd (KL:OCR) said the group is suing Kumpulan Jetson Bhd (KL:JETSON) over alleged breaches of a RM88.03 million contract to build four blocks of serviced apartments in Jalan Yap Kwan Seng, Kuala Lumpur.</p>


OCR sues Kumpulan Jetson over alleged breach of RM88 mil construction contract

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>The Human Resource Development Corporation (HRD Corp) said companies can now claim training course fees based on hourly rates, replacing the previous half-day or full-day structures.</p>


HRD Corp now allows hourly-based claims for training programmes, with higher ceiling for course fees

<p>EG Industries Bhd (KL:EG) said it is acquiring a 24.08% stake in Thai-based ND Rubber Public Company Ltd (NDR) for 198 million baht (RM26.05 million) as part of its expansion into the 5G photonics and embedded electric vehicle (EV) market in that country.</p>


EG Industries buys 24% stake in Thai-based tyre maker for RM26 mil

<p>A total of 13 contractors on Friday received their letters of acceptance (SST) to carry out Phase 1B of the Pan Borneo Highway (LPB) project in Sabah.&nbsp;</p>

<p>Works Minister Datuk Seri Alexander Nanta Linggi officiated the SST handover ceremony at the Sabah International Convention Centre here.</p>


<p>Malaysia will give major consideration to the applications of Bangladeshi workers who lost the opportunity due to political developments in their country, said Prime Minister Datuk Seri Anwar Ibrahim.</p>

<p>He said the Bangladeshi government had appealed to Malaysia on the possibility of increasing workers and professional intake from the country.</p>


Anwar: Malaysia will prioritise Bangladesh's request for job opportunities

<p>A recent altercation between Palestinians accommodated at Wisma Transit in Kuala Lumpur and security personnel has been resolved, said Palestine’s ambassador to Malaysia Walid Abu Ali.</p>

<p>Expressing regret over the incident, which involved two Palestinian women and went viral, Walid said it did not reflect the conduct of Palestinians in general.</p>


<p>The recent clash between several Palestinians and security personnel at Wisma Transit Kuala Lumpur cannot be used as an excuse to send them back home.</p>

<p>Home Minister Datuk Seri Saifuddin Nasution Ismail said it did not make sense for the government to do so as their country was embroiled in war and urged Malaysians not to come to any general conclusions based on the incident and blame Palestinians in general.</p>


<p>In less than 24 hours, Chinese consumers snapped up the first batch of fresh Malaysian durians exported to China.</p>

<p>A total of 40 tonnes were put on sale from Aug 26 onwards at selected retail outlets in six regions in the People's Republic.</p>


Consumers in China snap up Malaysian durians

<p>Former Treasury secretary Larry Summers said the Federal Reserve’s decision to cut interest rates last month was a mistake after new data showed that US job growth last month topped all estimates.</p>


<p>The Sessions Court here on Friday ordered an activist to defend himself on a charge of issuing a statement on his Facebook page that was mixed with sedition and for insulting the Yang di-Pertuan Agong, three years ago.</p>


Iswardy Morni ordered to enter his defence for allegedly insulting Agong

<p>Precision plastic injection moulding manufacturer Sanichi Technology Bhd (KL:SANICHI) has proposed to consolidate its shares on a 10-to-one basis.</p>


Sanichi proposes 10-to-one share consolidation, capital reduction

<p>In the excitement brought about by the surge of foreign investments in Malaysia’s digital economy, the government wants to see more homegrown technology companies “jump on the bandwagon” and expand their businesses in the country, Digital Minister Gobind Singh Deo said.</p>


<p>Israel said it had targeted the intelligence headquarters of Hezbollah in Lebanon overnight and was assessing the damage on Friday after a series of strikes on senior figures in the group that Iran's Supreme Leader dismissed as counterproductive.</p>


<p>Crude palm oil (CPO) futures on Bursa Malaysia Derivatives closed higher on Friday amid rising crude oil prices, a dealer said.</p>

<p>Palm oil trader David Ng said the price hike was driven by the expectation of a strong export CPO pace and escalating tension in the Middle East.</p>


CPO futures close higher amid rising crude oil prices

<p>Sarawak Premier Tan Sri Abang Johari Tun Openg leads the list of 1,376 recipients of Sabah state honours, decorations and medals in conjunction with the 71st official birthday celebration of the Yang Dipertua Negeri Sabah, Tun Juhar Mahiruddin on Saturday.</p>


<p>A total of 10 resolutions proposed by the Perdana Fellows Alumni Association, including the establishment of a National Youth Innovation Fund aimed at producing more youth entrepreneurs in the green economy and digital economy sectors, will be presented to Prime Minister Datuk Seri Anwar Ibrahim for scrutiny.</p>

<p>Higher Education Minister Datuk Seri Dr Zambry Abdul Kadir said this after chairing the association’s closed-door roundtable discussion on Friday, in conjunction with the Oct 26 Youth Economic Forum 2024 at the Malaysia International Trade and Exhibition Centre (Mitec).</p>
