<div class=newsTextDataWrapInner>This article first appeared in The Edge Financial Daily on October 10, 2017 - October 16, 2017</div><div class=newsTextDataWrapInner>Goh Ban Huat Bhd (-ve) 
SHARES in Goh Ban Huat Bhd (GBH) (fundamental: 1.3/3, valuation: 0.5/3) triggered our momentum algorithm yesterday for the first time this year. The stock closed one sen or 0.7% lower at RM1.42, with some 120,000 shares traded, compared with its 200-day average volume of 4,334 shares.</div>

<div class=newsTextDataWrapInner>In late September, the group announced that tycoon Tan Sri Robert Tan Hua Choon had sold 51% of his controlling stake in the company for RM145.71 million or RM1.40 per share and 40 sen per warrant.The disposal leaves him with a 12.83% stake in the ceramic and sanitary ware company. Paragon Adventure Sdn Bhd (PASB) emerged as the largest shareholder of GBH after buying the 51% stake in GBH from Tan, who is non-executive chairman of GBH.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>The acquisition triggered a mandatory general offer from PASB, which is making an offer to buy the rest of GBH shares and warrants at the same price. The stock has a market capitalisation of RM265 million. 
&nbsp;</div>

Goh Ban Huat Bhd (-ve)
SHARES in Goh Ban Huat Bhd (GBH) (fundamental: 1.3/3, valuation: 0.5/3) triggered our momentum algorithm yesterday for the first time this year. The stock closed one sen or 0.7% lower at RM1.42, with some 120,000 shares traded, compared with its 200-...

Stock With Momentum: Goh Ban Huat

ASML Holding NV chief executive officer Christophe Fouquet said he expects a slow chip market recovery to extend “well into 2025”, following disappointing third-quarter earnings that sparked a broad sell-off across the semiconductor industry.

ASML CEO sees slow chip recovery extending ‘well into 2025’

US import prices fell by the most in nine months in September amid a sharp decrease in the cost of energy products, pointing to a benign inflation outlook that keeps the Federal Reserve (Fed) on course to continue cutting interest rates.

Cheaper energy products depress US import prices in September

Vietnam has estimated the cost of building a new railway linking it with China's Yunnan province at 179 trillion dong (US$7.2 billion or RM30.9 billion), state media reported on Wednesday.

Vietnam estimates cost of new railway link with China at US$7.2b

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

AAX, Capital A, Crescendo, InfolineTec, Pappajack, Fajarbaru Builder, WCT, Econpile, LFE Corp, Gamuda, Aizo, Radiant Globaltech

Delivery delays from planemakers Airbus and Boeing are "massively frustrating" and are not yet getting better, the head of the global airline body IATA said on Wednesday.

Airbus, Boeing aircraft delivery delays not improving, IATA head says

The federal government's debt stood at RM1.227 trillion as of the end of June 2024, according to the Ministry of Finance (MOF).

Federal govt debt stands at RM1.23 tril as of end-June 2024 — MOF

The Dow regained some lost ground on Wednesday although the S&P 500 and the Nasdaq stumbled, dragged lower by declines in megacap technology stocks, while the broader market gained from upbeat quarterly earnings from banks, notably Morgan Stanley.

Wall Street mixed as megacap tech stocks fall; banks gain

Infoline Tec Group Bhd (KL:INFOTEC) and Pappajack Bhd (KL:PPJACK) have received approval from the Securities Commission Malaysia (SC) to transfer their listings from the ACE Market to the Main Market of Bursa Malaysia.

Infoline Tec, Pappajack secure SC nod for Main Market transfer

The world is on the brink of a new age of electricity with fossil fuel demand set to peak by the end of the decade, meaning surplus oil and gas supplies could drive investment into green energy, the International Energy Agency (IEA) said on Wednesday.

'Age of electricity' to follow looming fossil fuel peak, IEA says

Aizo Group Bhd (KL:AIZO) has inked a memorandum of understanding (MOU) with NetRunner Sdn Bhd to jointly establish a Tier 4 data centre hub in Sarawak, to meet the increasing demand for secure and reliable data storage and processing facilities.

Aizo ventures into data centres via MOU for Tier 4 data centre hub in Sarawak

A legal complaint by Genting Malaysia Bhd’s (KL:GENM) joint-venture partner filed in Florida could affect its bid for a casino licence in New York, CGS International warned in a note.

Genting's New York casino bid could be affected by complaint in Florida, CGS warns

(Oct 16): Banks and asset managers are continuing to channel tens of billions of dollars into companies whose operations directly threaten the future of tropical rainforests, including the Amazon, according to a new study.

Global banks, funds including PNB, EPF keep ploughing billions into clients threatening rainforests — study

LBS Bina Group Bhd (KL:LBS) officially launched its latest 315-acre township development named Rimbawan in Genting Highlands, Pahang on Tuesday (Oct 15). The township has a gross development value (GDV) of RM9.5 billion.

LBS Bina unveils RM9.5 bil GDV Rimbawan township in Genting Highlands; Budget 2025 wishlist

Crescendo Corporation Bhd (KL:CRESNDO) said on Wednesday that it is buying SGR Land Development Sdn Bhd and taking on its six land purchase obligations in Johor for RM168.85 million.

Crescendo to buy SGR Land, assume Johor land purchase agreements in RM169m deal

LVMH shares plunged after sales of fashion and leather goods fell for the first time since the Covid-19 pandemic, revealing the scale of the slump in demand from once insatiable Chinese consumers.&nbsp;

Organic revenue at the key unit whose brands include Louis Vuitton and Christian Dior declined 5% in the third quarter. That was the worst performance since the second quarter of 2020, when the world went into lockdown.&nbsp;

LVMH plunges as China's luxury spending slowdown worsens

KUALA LUMPUR (Oct 16): The Malaysia External Trade Development Corporation (Matrade) has appointed Nooryana Najwa Najib, daughter of former prime minister Datuk Seri Najib Razak, as its new member of the board of directors (BOD). &nbsp;

Matrade appoints Najib’s daughter Nooryana Najwa as director

Investors in chip stocks are facing a fresh gut check after a tepid outlook from key equipment supplier ASML Holding NV sparked a global rout in the sector.

Global chip stocks shed US$420b after ASML warning

China's state security ministry said that a foreign company had been found to have illegally conducted geographic mapping activities in the country under the guise of autonomous driving research and outsourcing to a licensed Chinese mapping firm.

China says unidentified foreign company conducted illegal mapping services

Chinese companies should consider Malaysia an ideal destination to set up regional headquarters, from which they can expand internationally through Malaysia, said Deputy Investment, Trade and Industry Minister&nbsp;Liew Chin Tong.

In his pre-recorded keynote address at the&nbsp;CGS Southeast Asia (SEA) Bilateral Investment Forum here on Wednesday, he said Malaysia’s strength lies in having a skilled and educated multilingual workforce, an internationally-recognised common law framework, a comprehensive logistics network, and a stable society.

Liew urges Chinese companies to set up regional HQs, expand internationally through Malaysia

A total of 6,617 battery-powered electric vehicles (BEVs) were sold in the first half of 2024 (1H2024), marking a significant 112% year-on-year surge in the electric vehicle (EV) market, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

Zafrul: BEV sales surged 112% in 1H2024 

Pekat Group Bhd (KL: PEKAT) is well-positioned to capitalise on substantial growth opportunities driven by Malaysia’s rising demand in the renewable energy sector, Tenaga Nasional Bhd’s (KL: TENAGA) infrastructure upgrade and from the surge in data centres investment, said Phillip Capital.

Pekat to capitalise on rising solar energy and data centre opportunities in Malaysia, says Phillip Capital

KUALA LUMPUR (Oct 16): AirAsia X Bhd’s (KL:AAX) shareholders and proxies have voted 99.08% in favour of the proposed RM6.8 billion acquisition of AirAsia’s aviation business — AirAsia Bhd and AirAsia Aviation Group Ltd — from its sister company Capital A Bhd (KL:CAPITALA).

AAX shareholders approve RM6.8b aviation assets buy from Capital A

Electrical and mechanical engineering firm LFE Corp Bhd (KL:LFECORP) has secured a subcontract worth RM38.8 million at the hyperscale data centre being developed in Elmina Business Park in Sungai Buloh.

LFE Corp secures subcontract from Gamuda for Elmina Business Park data centre project

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

PROPERTY developer Glomac Bhd (KL:GLOMAC) is aware it has been in a “slumber” over the past few years but it is now “waking up” and ready to take on more opportunities, not just in property development but perhaps also in green energy, according to its group managing director and CEO Datuk Seri F...

Glomac readies RM3 bil sukuk-boosted war chest for new opportunities 

Air-France KLM is lobbying the French government to cap the number of flights that mainland Chinese carriers can make to Europe, according to people familiar with the matter, in a bid to protect European airlines from unfair competition.

European airlines rachet up pressure in face of Chinese threat

KUALA LUMPUR (Oct 16): With Chief Judge of Sabah and Sarawak (CJSS) Tan Sri Abdul Rahman Sebli reaching the age of 66 in three months’ time, there is a possibility of two top judicial posts in the country being left vacant and yet to be filled by early next year.

Risk of two vacancies in top judiciary by early next year

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

EVENING 5: Five things you need to know today

Thailand’s central bank cut its benchmark interest rate for the first time in more than four years, a surprise move given it has long resisted the government’s calls to ease monetary policy.&nbsp;

The Bank of Thailand (BOT) voted 5-2 to cut the one-day repurchase rate by a quarter of a percentage point to 2.25% at Wednesday’s meeting, as predicted by only five out of the 28 economists surveyed by Bloomberg. The last time it cut rates was in May 2020.&nbsp;

Thailand unexpectedly cuts rate for first time since 2020

The development of a special industrial cluster in the manufacturing sector in the central region needs to be prioritised as a strategic initiative of the Madani government to strengthen the country's position as an investment hub, said Prime Minister Datuk Seri Anwar Ibrahim.