<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on December 23, 2019 - December 29, 2019</span></p></div><div class=newsTextDataWrapInner><p><strong>Hap Seng Plantations Holdings Bhd (+ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>TRADING of shares in Hap Seng Plantations Holdings Bhd (HSP) (fundamental: 2.25/3, valuation: 1.2/3) triggered our momentum algorithm last Friday for the second time this year. The stock closed four sen or 2.04% higher at RM2 last Friday, with 276,600 shares done compared with its 200-day average volume of 51,906 shares.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In a research note dated Dec 20, Hong Leong Investment Bank (HLIB) reiterated its positive view on Hap Seng Plantation’s near-term earnings outlook, on an improving palm oil price sentiment and a mild fresh fruit bunch production growth.</p></div>

<div class=newsTextDataWrapInner><p>Noting the company’s net profit plunging 98.8% to RM300,000 for the nine months of financial year 2019 (9MFY19) mainly due to lower realised palm product prices, HLIB said it expects a significant earnings improvement from the fourth quarter of FY19, driven by a sharp recovery in crude palm oil (CPO) prices. “Based on our estimates, for every RM100 per tonne change in our CPO price assumption, it will change our net profit forecast for FY20 by RM11.6 million.”</p></div>


Hap Seng Plantations Holdings Bhd (+ve)

TRADING of shares in Hap Seng Plantations Holdings Bhd (HSP) (fundamental: 2.25/3, valuation: 1.2/3) triggered our momentum algorithm last Friday for the second time this year. The stock closed four sen or 2.04% higher at RM2 last...

Stock With Momentum: Hap Seng Plantations Holdings

Saudi Arabia’s Crown Prince Mohammed Bin Salman called Donald Trump in the early hours of Wednesday to express his joy at the Republican’s return to power, according to two people with knowledge of the exchange.

Saudi Crown Prince reached out to Trump in late-night phone call — Bloomberg

A partnership between American Airlines Group Inc and JetBlue Airways Corp violated US antitrust law, an appellate court ruled, affirming a lower court decision to end the alliance.

American-JetBlue alliance breakup upheld by appellate court

Fraser and Neave Ltd (F&N) reported earnings of S$150.2 million (RM496.64 million) for the financial year ended Sept 30, 2024 (FY2024), 12.7% higher year-on-year (y-o-y). Second-half earnings, however, fell by 14.9% y-o-y to S$66.4 million.

Fraser and Neave Ltd reports FY2024 earnings of S$150.2m, up 12.7%, on broad-based growth

The S&P 500 zoomed past 6,000 points on Friday to a new record while Treasury yields retreated, as investors again cheered Donald Trump's decisive US presidential election victory, although disappointment about China's latest fiscal support dampened the mood elsewhere.

S&P 500 blows past 6,000 points on Trump presidency; Musk's Tesla jumps 8.2%

Eighteen months following its decision to abandon the single wholesale network (SWN) structure and transition to a dual 5G network, Malaysia sprang yet another surprise by selecting U Mobile Sdn Bhd, the third and smallest of the three bidders that qualified, for the coveted second 5G spectrum bid on Nov 1.

Untangling the second 5G network puzzler

Israeli foreign minister Gideon Saar met Dutch Justice Minister David van Weel and far-right leader Geert Wilders in Amsterdam on Friday afternoon to discuss the assaults on Israeli soccer supporters in the city.

Israeli foreign minister meets Dutch justice minister, far-right leader after assaults

About one-tenth of the US labour force is working in the gig economy, a share that’s held steady from the pre-pandemic years, a new government study found.
 
The so-called gig economy employs some 15.5 million people or 10.2% of the labour force, according to a Bureau of Labor Statistics (BLS) report published on Friday that’s based on a special supplement to the Current Population Survey for July 2023.

America’s gig economy workforce holds steady around 10% of total

German Chancellor Olaf Scholz signalled he’s open to discussing the timing of an early election as long as opposition lawmakers back legislation he wants to pass before his term ends.

After dismantling his coalition with the Greens and Free Democrats on Wednesday and losing his Bundestag majority, Social Democrat Scholz said he was ready to submit to a confidence vote on Jan 15, the first step in triggering a new national ballot in March.

Scholz says ready to discuss timing of snap German election

Invesco Advisers Inc will pay a US$17.5 million (RM77.07 million) fine to settle US Securities and Exchange Commission (SEC) allegations that it misled clients about the share of company-wide assets under management (AUM) that integrated environmental, social and governance (ESG) factors into investment decisions.

SEC slaps Invesco Advisers with US$17.5 mil fine over its ESG claims 

The S&P 500 and the Dow edged higher on Friday, putting them on course for their best week this year, as a sweeping Trump victory powered bets of a business-friendly agenda and an expected interest-rate cut eased pressure on the US economy.

S&P 500, Dow set for best week this year on Trump win, rate cut

<p>A brief recap of some business news and corporate announcements that made the headlines on Friday.</p>


Maxis, 99 Speed Mart, Carlsberg Malaysia, Westports, PIE Industrial, Duopharma, Milux, Steel Hawk, Petra Energy, Fajarbaru, JF Technology, Sarawak Cable, REDtone, HeiTech Padu, Cypark

<p>Eighteen months following its decision to abandon the single wholesale network (SWN) structure and transition to a dual 5G network, Malaysia sprang yet another surprise by selecting U Mobile Sdn Bhd, the third and smallest of the three bidders that qualified, for the coveted second 5G spectrum bid on Nov 1.</p>


<p>Israeli foreign minister Gideon Saar met Dutch Justice Minister David van Weel and far-right leader Geert Wilders in Amsterdam on Friday afternoon to discuss the assaults on Israeli soccer supporters in the city.</p>


<p>Invesco Advisers Inc will pay a US$17.5 million (RM77.07 million) fine to settle US Securities and Exchange Commission (SEC) allegations that it misled clients about the share of company-wide assets under management (AUM) that integrated environmental, social and governance (ESG) factors into investment decisions.&nbsp;</p>


<p>The S&amp;P 500 zoomed past 6,000 points on Friday to a new record while Treasury yields retreated, as investors again cheered Donald Trump's decisive US presidential election victory, although disappointment about China's latest&nbsp;fiscal support&nbsp;dampened the mood elsewhere.</p>


<p>The S&amp;P 500 and the Dow edged higher on Friday, putting them on course for their best week this year, as a sweeping Trump victory powered bets of a business-friendly agenda and an expected interest-rate cut eased pressure on the US economy.</p>


<p>Philippine President Ferdinand Marcos Jr enacted on Friday two laws bolstering his nation’s maritime claims, drawing criticism from Beijing as South China Sea tensions persist.</p>

<p>Marcos signed the Maritime Zones Act, which seeks to make the Philippines’ maritime rights well-defined by creating routes over its waters and airspace.</p>


Marcos signs laws on Philippine Sea rights, drawing anger from China 

<p>About one-tenth of the US labour force is working in the gig economy, a share that’s held steady from the pre-pandemic years, a new government study found.<br />
&nbsp;<br />
The so-called gig economy employs some 15.5 million people or 10.2% of the labour force, according to a Bureau of Labor Statistics (BLS) report published on Friday that’s based on a special supplement to the Current Population Survey for July 2023.</p>


<p>German Chancellor Olaf Scholz signalled he’s open to discussing the timing of an early election as long as opposition lawmakers back legislation he wants to pass before his term ends.</p>

<p>After dismantling his coalition with the Greens and Free Democrats on Wednesday and losing his Bundestag majority, Social Democrat Scholz said he was ready to submit to a confidence vote on Jan 15, the first step in triggering a new national ballot in March.</p>


<p>European Union (EU) leaders are trying to work out whether they can keep the Ukrainian war effort going if Donald Trump decides to shut off support from the US.</p>


EU is looking at ramping up Ukraine aid if Trump pulls plug

<p>Temu is at risk of being fined for breaching European Union consumer-protection law, adding to the e-commerce platform’s regulatory problems a week after the bloc opened a separate investigation into whether it’s doing enough to combat illegal sales.</p>


Temu faces second EU probe for misleading sales practices

<p>US consumer sentiment climbed to a seven-month high in early November, boosted by Americans’ optimism about the future of the economy and their finances.</p>


US consumer sentiment advances to highest level since April

<p><strong>A weekly round-up of tanker and dry bulk market (Nov 8, 2024)</strong></p>

<div class="pb-5 imgw-800 mx-auto d-block"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="//assets.theedgemarkets.com/pics/2024/BDI - BDI 101123 081124.png"><img alt="" src="//assets.theedgemarkets.c...

Baltic Exchange shipping updates: Nov 8, 2024

<p>Fraser and Neave Ltd (F&amp;N) reported earnings of S$150.2 million (RM496.64 million) for the financial year ended Sept 30, 2024 (FY2024), 12.7% higher year-on-year (y-o-y). Second-half earnings, however, fell by 14.9% y-o-y to S$66.4 million.</p>


<p>Irish Prime Minister Simon Harris on Friday announced the formal start of the country's general election campaign, hoping to retain his coalition's lead in polls and to capitalise on a slide in support for the opposition Sinn Fein.</p>


Irish PM kicks off election focussing on immigration, housing and Trump

<p>Saudi Arabia’s Crown Prince Mohammed Bin Salman called Donald Trump in the early hours of Wednesday to express his joy at the Republican’s return to power, according to two people with knowledge of the exchange.</p>
