<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on August 28, 2017 - September 3, 2017</span></p></div><div class=newsTextDataWrapInner><p><strong>Southern Steel Bhd (-ve)</strong></p></div>

<div class=newsTextDataWrapInner><p>SHARES in Southern Steel Bhd (fundamental: 0/3, valuation: 0.6/3), which triggered our momentum algorithm last Friday for the fourth time this year, fell 9.4% to RM1.93.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>This was despite the group’s return to the black in the financial results for the fourth quarter ended June 30, 2017 (4QFY17), with a net profit of RM5.57 million, compared to a net loss of RM112.7 million in the corresponding quarter a year ago. Revenue grew 10.8% to RM654.9 million from RM590.9 million.</p></div>

<div class=newsTextDataWrapInner><p>The stock had rallied prior to the release of the results, when it reached an all-time high of RM2.13 last Thursday.</p></div>

<div class=newsTextDataWrapInner><p>The group is currently trading at a trailing price-earnings ratio of 8.7 times, with a market capitalisation of RM828.99 million. Year to date, the stock has gained 59.5%.</p></div>


Southern Steel Bhd (-ve)

SHARES in Southern Steel Bhd (fundamental: 0/3, valuation: 0.6/3), which triggered our momentum algorithm last Friday for the fourth time this year, fell 9.4% to RM1.93.

This was despite the group’s return to the black in the financial...

Stock With Momentum: Southern Steel

Genting Bhd (KL:GENTING) and Genting Malaysia Bhd (KL:GENM) are likely to be removed from the 30-stock FTSE Bursa Malaysia (FBM) KLCI in the latest review of the benchmark index that will be announced on Thursday, according to sources.

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Retailer Eco-Shop Marketing Bhd, which operates 320 discount stores nationwide, is planning to float its shares on the Main Market of Bursa Malaysia to raise funds for business expansion, according to its draft prospectus filed with the Securities Commission Malaysia.

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Global equities were set to climb higher as bullish comments from Jerome Powell supported risk assets. Currency traders remained on edge as the French government fell after a no-confidence vote.

Shares in Australia and equity futures in Japan rose, while contracts for Hong Kong were slightly lower.

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The South Korean won rebounded on Wednesday, posting the sharpest gains among emerging-market currencies, after President Yoon Suk Yeol rapidly reversed his martial law declaration. Traders were waiting on Federal Reserve Chair Jerome Powell’s remarks for clues on where US interest rates are headed.

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Stocks hit all-time highs as Federal Reserve Chair Jerome Powell said the economy is in remarkably good shape. The euro wavered as the French government fell after a no-confidence vote in Parliament.

A rally in big tech drove the S&P 500 to its 56th closing record in 2024. The Nasdaq 100 climbed more than 1%. Nvidia Corp.

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US services activity expanded in November at the slowest pace in three months as demand and employment growth settled back, indicating the largest part of the economy is losing momentum.

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

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Binasat Communications Bhd (KL:BINACOM) has proposed to undertake a private placement to finance the acquisition of several properties.

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AstraZeneca plc has appointed Iskra Reic as executive vice-president of its international business, replacing Leon Wang who is under investigation by Chinese authorities.

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


<p>Cash-rich Apollo Food Holdings Bhd’s (KL:APOLLO) net profit grew 6.7% year-on-year for the second quarter, supported by higher domestic and export sales.</p>


Apollo Food declares 30 sen dividend; net profit up 6.7% in 2QFY2025 

<p>After nearly two decades on the run, a Singaporean tycoon involved in a US$51 million (RM227 million) misappropriation case was finally arrested with his wife in Johor on Tuesday.</p>


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<p>Genting Bhd (KL:GENTING) and Genting Malaysia Bhd (KL:GENM) are likely to be removed from the 30-stock FTSE Bursa Malaysia (FBM) KLCI in the latest review of the benchmark index that will be announced on Thursday, according to sources.</p>


<p>Sentoria Group Bhd (KL:SNTORIA) said it has triggered Bursa Malaysia's Practice Note 17 (PN17) criteria after its shareholders’ equity fell to 33% of its issued and paid-up capital, based on its just released financial statement for the year ended Sept 30, 2024 (FY2024).</p>


Sentoria triggers PN17 critera

<p>Retailer Eco-Shop Marketing Bhd, which operates 320 discount stores nationwide, is planning to float its shares on the Main Market of Bursa Malaysia to raise funds for business expansion, according to its draft prospectus filed with the Securities Commission Malaysia.</p>


<p>Wall Street's main indexes climbed on Wednesday, with the S&amp;P 500 and the Nasdaq touching record highs propelled by gains in technology stocks, while investors awaited comments from Federal Reserve chair Jerome Powell later in the day.</p>


<p>Binasat Communications Bhd (KL:BINACOM) has proposed to undertake a private placement to finance the acquisition of several properties.</p>


<p>The 11th Malaysia-Singapore Leaders' Retreat, scheduled for Dec 8 to Dec 9 in Malaysia, has been postponed after Singapore Prime Minister Lawrence Wong tested positive for Covid-19 on Tuesday.</p>


Malaysia-Singapore Retreat postponed as Singapore PM contracts Covid-19

<p>The Dewan Rakyat on Wednesday approved the Commercial Vehicles Licensing Board (Amendment) 2024 Bill, which, among others, introduces the legal basis to address the issue of illegal or unauthorised bus ticket sales in Sabah, Sarawak and Labuan.</p>


Dewan Rakyat passes Commercial Vehicles Licensing Board (Amendment) 2024 Bill

<p>A consultant dubbed “Mr Non Compliant”, because he allegedly controlled the flow of bribes at the heart of Trafigura’s trial, believed he was “one of the family”, according to a document shared with the court.</p>


'Mr Non Compliant’ believed he was part of Trafigura ‘family,’ Swiss court hears

<p>AstraZeneca plc has appointed Iskra Reic as executive vice-president of its international business, replacing Leon Wang who is under investigation by Chinese authorities.&nbsp;</p>


<p>Brian Thompson, the CEO of UnitedHealth's insurance unit, was fatally shot in the chest on Wednesday morning outside the Hilton hotel in midtown Manhattan, the <i>NY Post</i> and <i>Bloomberg</i> reported, citing police sources.</p>


UnitedHealthcare executive fatally shot in Manhattan, reports say

<p>On Nov 18, hours after two communication cables were severed in the Baltic Sea, 30 Nato vessels and 4,000 military staff took to the same body of water for one of northern Europe's largest naval exercises.</p>


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<p>Stocks hit all-time highs as Federal Reserve Chair Jerome Powell said the economy is in remarkably good shape. The euro wavered as the French government fell after a no-confidence vote in Parliament.</p>

<p>A rally in big tech drove the S&amp;P 500 to its 56th closing record in 2024. The Nasdaq 100 climbed more than 1%. Nvidia Corp.</p>


<p>Eurozone economic growth could be weaker in the months ahead and the medium term outlook is uncertain with downside risks dominating, European Central Bank president Christine Lagarde said in a parliamentary hearing on Wednesday.</p>


ECB's Lagarde sees weak growth, dominated by downside risks

<p>Foot Locker Inc’s shares sank after the sneaker chain cut its full-year sales and profit forecasts, citing more discounts and a pullback in consumer spending ahead of the crucial holiday season.</p>


Foot Locker tumbles after sales weakness led to outlook cut

<p>Global equities were set to climb higher as bullish comments from Jerome Powell supported risk assets. Currency traders remained on edge as the French government fell after a&nbsp;no-confidence vote.</p>

<p>Shares in Australia and equity futures in Japan rose, while contracts for Hong Kong were slightly lower.</p>


<p>A consortium seeking to buy out Hong Kong-listed ESR Group Ltd has submitted a binding offer for the logistics real estate firm, a move that would bring the months-long takeover pursuit one step closer to an end.</p>


ESR gets US$7 bil binding takeover offer from buyout group

<p>US private payrolls increased at a moderate pace in November, while annual wages for workers staying in their jobs edged up for the first time in 25 months.</p>
