<div class=newsTextDataWrapInner><p>SINGAPORE (Feb 27): CIMB is keeping Wilmar International at "add" with an unchanged target price of S$4.10 on attractive valuations, strong crushing margins so far in FY18 and with the anticipated listing of its China unit.</p></div>

<div class=newsTextDataWrapInner><p>In a Monday report, analyst Ivy Ng Lee Fang says the group is expected to deliver good 1Q18 numbers. This given strong crushing margins in China so far in 2018, consumer products are expected to benefit from seasonal demand during the Chinese Spring Festival in mid-Feb, and improving sugar contribution due to the absence of impairment of US$30.6 million (S$40.3 million) in 4Q17 and the sale of carried-over sugar inventories from its mills in Australia from the same quarter.</p></div>

<div class=newsTextDataWrapInner><p>In addition, Wilmar remains on track to list its China operations in Shanghai in 2019 given the group has completed an internal restructuring for the listing, says Ng. China operations made up around 65% of FY17 earnings and Wilmar is likely to offer 10% new shares during the IPO, with P/E of not more than 23 times... <a href="https://www.theedgesingapore.com/wilmar-kept-add-valuations-strong-crushing-margins-and-upcoming-listing-china-unit" target="_blank">(Click here to read the full story.)</a></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>


SINGAPORE (Feb 27): CIMB is keeping Wilmar International at "add" with an unchanged target price of S$4.10 on attractive valuations, strong crushing margins so far in FY18 and with the anticipated listing of its China unit.

In a Monday report, analyst Ivy Ng Lee Fang says the group is e...

Wilmar kept at 'add' on valuations, strong crushing margins, upcoming listing of China unit

NEW YORK (Jan 14): Elon Musk was sued on Tuesday by the US Securities and Exchange Commission (SEC), which accused the world's richest person of waiting too long to disclose in 2022 that he had amassed a large stake in Twitter, the social media company he later bought.

US SEC sues Elon Musk over late disclosure of Twitter stake

At least eight major distressed Chinese firms, including a China Evergrande Group unit, are set to defend themselves in court cases relating to their debt problems over the next two weeks, in one of the busiest stretches ever for such hearings.

Distressed Chinese companies face flurry of court hearings

South Korean authorities investigating impeached President Yoon Suk Yeol attempted to enter his residence on Wednesday morning in a new bid to arrest him over insurrection accusations related to his Dec. 3 martial law declaration.

South Korean authorities try anew to arrest impeached President Yoon

Asian stocks were poised for a steady open following a tepid US session as traders await key inflation data that may shed light on the path of Federal Reserve rates over the coming months.

Asian traders tread with caution ahead of US CPI data

Salaries in Malaysia projected to increase by 5% in 2025 — Mercer

French Prime Minister Francois Bayrou on Tuesday opened the door to renegotiating a disputed pension reform in a bid to win over left-wing lawmakers he needs to pass the 2025 budget.

Bayrou's concession underlined the scale of France's political turmoil as he prepared to spend his first weeks in office reworking the hard-won 2023 pension reform under pressure from the left, which threatens to topple his government otherwise.

French PM opens door to renegotiating Macron's pension reform

Meta Platforms Inc is cutting roughly 5% of its staff through performance-based eliminations and plans to hire new people to fill their roles this year, according to an internal memo sent to all employees.

Meta to slash roughly 5% of staff, targetting lowest performers

Nato countries will deploy frigates, patrol aircraft and naval drones in the Baltic Sea to help protect critical infrastructure and reserve the right to take action against ships suspected of posing a security threat, alliance members said on Tuesday.

Nato to deploy ships, aircraft in Baltic Sea after cable breaches

Malaysia welcomes companies from the United Arab Emirates (UAE) to invest in Malaysia involving renewable energy (RE) projects, including data centres, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia welcomes UAE companies to invest in renewable energy, data centre projects — PM 

Malaysia’s unique position has helped the country to chart economic policies which are comprehensive and sustainable, said Prime Minister Datuk Seri Anwar Ibrahim.

He said Malaysia is fortunate as it is politically stable despite being multi-cultural, multi religious, multi-racial, and it is probably among the most peaceful country in the region and is also among the fastest growing economies in the world.

Malaysia’s unique position helps to chart economic policies which are comprehensive, sustainable

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


Yinson, Mah Sing, YTL Power, Atlan, Sunway, Kawan Food, Theta Edge, South Malaysia Industries

<p>Prime Minister Datuk Seri Anwar Ibrahim said he believed issues related to Petroliam Nasional Bhd (Petronas) and Petroleum Sarawak Bhd (Petros) regarding gas distribution rights in Sarawak had been resolved through a series of negotiations, including his meeting with Sarawak Premier Tan Sri Abang Johari Tun Openg.</p>


Anwar confident Petronas-Petros gas issue resolved

<div><img alt="" class="gallery-items" data-high-res-src="https://myassets.theedgemalaysia.com/pics/2025/TEM1557-infographic-2-theedgemalaysia_20250114154549.jpg" src="" /></div>

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<p>Bank Islam Malaysia Bhd has signed a financing agreement worth RM105.2 million with Solar Voltech Sdn Bhd, a subsidiary of PDC Premier Holdings Sdn Bhd, for a solar generation project.</p>


Bank Islam, Solar Voltech ink RM105.2 mil solar financing agreement

<p>Loft Orbital raised US$170 million (RM765.89 million) in a funding round that will help the space infrastructure startup increase launch frequency and compete for contracts against aerospace juggernauts like Northrop Grumman and Lockheed Martin Corp.</p>


Space firm Loft Orbital raises US$170 mil to scale up launches

<p>The Malaysian Anti-Corruption Commission (MACC) has thwarted a syndicate involved in corruption and money laundering activities, allowing public servants with bad debts to secure personal loans from local banking institutions.</p>

<p>Chief Commissioner Tan Sri Azam Baki said the MACC Anti-Money Laundering Division carried out the concerted effort with Bank Negara Malaysia and local financial institutions under "Ops Sky", which led to the arrest of 12 individuals on Monday.</p>


MACC busts syndicate giving loan approval for public servants with bad debts

<p>Powertechnic Group Bhd, which provides lifting systems as well as maintenance and repair services, on Tuesday (Jan 14) filed for an initial public offering (IPO) on the ACE Market of Bursa Malaysia to raise funds for marketing expenses and capital expenditure for automated machines.</p>


Overhead crane firm Powertechnic files draft prospectus for ACE Market IPO

<p>Asian stocks were poised for a steady open following a tepid US session as traders await key inflation data that may shed light on the path of Federal Reserve rates over the coming months.</p>


<p>South Korean authorities investigating impeached President Yoon Suk Yeol attempted to enter his residence on Wednesday morning in a new bid to arrest him over insurrection accusations related to his Dec. 3 martial law declaration.</p>


<p>Meta Platforms Inc is cutting roughly 5% of its staff through performance-based eliminations and plans to hire new people to fill their roles this year, according to an internal memo sent to all employees.</p>


<p>At least eight major distressed Chinese firms, including a China Evergrande Group unit, are set to defend themselves in court cases relating to their debt problems over the next two weeks, in one of the busiest stretches ever for such hearings.</p>


<p>BMI, a Fitch Solutions company, projected Malaysia’s economy to be resilient in 2024, with a real gross domestic product (GDP) growth forecast of 5%, supported by robust investment and resilient consumption.&nbsp;</p>

<p>Although the GDP growth is forecasted to slow down to about 4.7% in 2025, this will still be in line with its pre-pandemic times, said country risk analyst Caroline Wong.&nbsp;</p>


BMI expects Malaysia’s economy to be resilient in 2024 at 5%

<p>Capital One Financial Corp misled customers when it rolled out a new savings account with a higher interest rate it didn’t also give to existing savings accounts, the Consumer Financial Protection Bureau said Tuesday in a lawsuit against the bank.</p>


Capital One accused of misleading customers on savings rates

<p>Malaysia must embark on a digital transformation within its economic and financial sectors, prioritising areas such as blockchain and cryptocurrency to remain at the forefront of the digital age, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


Malaysia must embrace digital transformation to stay ahead, says Anwar

<p>Country Garden Holdings Co suffered another record loss in 2023 as one of China’s largest developers continues its lengthy restructuring process after defaulting on its debt.</p>


Country Garden posts another record loss on China housing slump

<p>Malaysia’s unique position has helped the country to chart economic policies which are comprehensive and sustainable, said Prime Minister Datuk Seri Anwar Ibrahim.</p>

<p>He said Malaysia is fortunate as it is politically stable despite being multi-cultural, multi religious, multi-racial, and it is probably among the most peaceful country in the region and is also among the fastest growing economies in the world.</p>


<p>Wall Street's main indices opened higher on Tuesday, as investors assessed softer-than-expected producer inflation to gauge the Federal Reserve's monetary policy trajectory this year.</p>


Wall St opens higher after softer-than-expected producer price data

<p>Azerbaijan President Ilham Aliyev stated that a new world order is taking shape, and the world is at the beginning of this process.</p>


A new world order is taking shape — Azerbaijan president

<p>Barrick Gold Corp said it’s suspending mining operations in Mali after the government started removing gold from the nation’s biggest mine in the latest escalation of a months-long dispute.</p>

<p>The world’s No 2 gold producer is stopping activity at the vast Loulo-Gounkoto complex, the firm said in a statement on Tuesday.</p>


Barrick suspends Mali gold operations as standoff escalates

<p>Russia’s seaborne crude exports were stable ahead of the toughest sanctions yet imposed on its oil sector in response to Moscow’s 2022 invasion of Ukraine.</p>

<p>But flows could be hit in the coming weeks after the US took measures on Friday against two of the country’s top exporters and about 160 oil tankers, as well as key traders, insurers and a Chinese company that facilitated the unloading of a cargo from a previously sanctioned ship.</p>
