<div class=newsTextDataWrapInner><p><strong>Mieco Chipboard Bhd (+ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>CHIPBOARD maker Mieco (Fundamental: 0.65/3, Valuation: 0.9/3) closed 14.3% higher at a 3-year high of 92 sen yesterday. Like other chipboard makers, its share price has performed strongly, up 145.3% year-to-date, supported by the stronger USD.</p></div>

<div class=newsTextDataWrapInner><p>For 1Q15, it recorded a net profit of RM3.2 million compared to a net loss of RM3.2 million in 1Q14, while revenue rose 6.3% to RM80.3 million. Net gearing stood at 32.7%.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The Pahang-based Mieco derives about 70-80% of its sales from the domestic market with the balance from export markets. The company was loss-making for 2012-2013 but started to turn around in 2Q14, thanks to higher local chipboard demand and stronger furniture exports.</p></div>

<div class=newsTextDataWrapInner><p>Excluding one-off disposal gain of RM16.1 million on one of its factories, net profit was RM1.7 million in 2014, reversing a net loss of RM63.6 million in 2013. Meanwhile, revenue increased 9.2% to RM321.9 million, fuelled by higher sales volume and selling prices.</p></div>

<div class=newsTextDataWrapInner><p><img alt="Mieco-Chipboard_SWM_FD_10july2015_theedgemarkets" src="http://edgemarkets.s3-ap-southeast-1.amazonaws.com/pictures/Mieco-Chipboard_SWM_FD_10july2015_theedgemarkets.png" /></p></div>

<div class=newsTextDataWrapInner><p>This article first appeared in<em> The Edge Financial Daily</em>, on July 10, 2015.</p></div>


Mieco Chipboard Bhd (+ve)

CHIPBOARD maker Mieco (Fundamental: 0.65/3, Valuation: 0.9/3) closed 14.3% higher at a 3-year high of 92 sen yesterday. Like other chipboard makers, its share price has performed strongly, up 145.3% year-to-date, supported by the stronger USD.<...

Stock With Momentum: Mieco Chipboard

Oil prices rose about 1% on Thursday, paring some of the sharp declines seen earlier this week due to a stronger US dollar and worries about rising supply amid slow demand growth.

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US producer prices picked up in October, fuelled in part by gains in portfolio management and other categories that feed into the Federal Reserve’s preferred inflation gauge.

The producer price index (PPI) for final demand increased 0.2% from a month earlier after rising a revised 0.1% in September, Bureau of Labor Statistics data showed on Thursday.

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Meta Platforms Inc was hit with a €798 million (US$841 million or RM3.76 billion) fine by European Union regulators by tying its Facebook Marketplace service to its sprawling social network, the US tech giant’s first ever penalty for EU antitrust violations.

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<p>The chief executive officer (CEO) of Encorp Berhad (KL:ENCORP), Hazurin Harun, 54, was charged in the Sessions Court on Thursday with two counts of criminal breach of trust (CBT) involving RM1.05 million last year.</p>


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<p>AS the sixth largest of Malaysia’s eight domestic banking groups in terms of assets, AMMB Holdings Bhd (AmBank Group) (KL:AMBANK) is considered a mid-sized lender.</p>

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<p>In a landmark decision, the High Court on Thursday ruled that developers who deliver vacant possession of a property without allowing the owners to occupy it is against public policy and goes against the purpose of the vacant possession.</p>


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<p>MISC Bhd (KL:MISC) said on Thursday its net profit fell in the third quarter, dragged by lower charter rates for its natural gas carriers and higher vessel operating costs, as it flagged a tough outlook for its key business.</p>


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<p>KUALA LUMPUR (Nov 14): The Ministry of Finance (MOF) said on Thursday sovereign wealth fund Khazanah Nasional Bhd will continue to fund start-ups despite&nbsp;losses from its investment&nbsp;in&nbsp;e-commerce platform FashionValet Sdn Bhd.&nbsp;</p>


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<p>Geely Automobile Holdings Ltd, the centrepiece of billionaire Li Shufu’s car empire, continued to increase revenue and profits in the third quarter as the automaker enjoys a boon from its electric vehicle and hybrids segment.</p>


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<p>IOI Properties Group Bhd (KL:IOIPG) has launched its IOI Sustain Roadmap 2030 (ISR 2030) to drive sustainable progress across all facets of the group's operations.</p>

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<p>Ice cream brand Ben &amp; Jerry's said in a lawsuit filed Wednesday that parent company Unilever has silenced its attempts to express support for Palestinian refugees, and threatened to dismantle its board and sue its members over the issue.</p>


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<p>Malaysia is sending a protest note to the Philippines regarding its two new maritime laws that infringe on Sabah’s maritime boundaries, said Deputy Foreign Minister Datuk Mohamad Alamin.</p>


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<p>The Malaysian Automotive Association (MAA) said the country’s new&nbsp;car sales volume or total industry volume (TIV) could reach 800,000 units this year, driven by strong year-end promotions and robust demand for national cars.</p>


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<p>Pan Malaysia Corp Bhd (KL:PMCORP) disclosed that its audited net loss for the year ended June 30, 2024 (FY2024) was larger than previously reported in the unaudited statement.</p>


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<p>New solicitors will represent Muhammed Yusoff Rawther in his sexual assault suit against Prime Minister Datuk Seri Anwar Ibrahim.</p>


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<p>The Sessions Court judge hearing the corruption trial involving former Penang chief minister Lim Guan Eng on Thursday rebuked the defence counsel for repeatedly asking the same questions.</p>
