Kejuruteraan Asastera Bhd
(Feb 13, 25.5 sen)
Maintain buy call with an unchanged target price (TP) of 37.5 sen: Excluding listing expenses estimated at RM3.1 million, Kejuruteraan Asastera Bhd’s (KAB) core net profit of RM9.9 million for the financial year ended Dec...

Kejuruteraan Asastera’s order book offers 2-year earnings visibility

Lotte Chemical Titan Holding Bhd
(Feb 2, RM5.50)
Maintain buy with a lower target price (TP) of RM 6.10: Lotte Chemical Titan Holding Bhd’s (LCT) core net profit for financial year 2017 (FY17) of RM1.1 billion (-21% year to date [YTD]) exceeded our expectations but ...

Lotte Chemical Titan FY17 DPS a positive surprise

Tenaga Nasional Bhd
(Jan 29, RM15.84)
Maintain buy call with a target price (TP) of RM18.22: Tenaga Nasional Bhd’s (TNB) three months ended November 2017 core net profit of RM1.9 billion (-18% year-on-year [y-o-y]) was within our expectations. The adjusted core prof...

TNB 3QFY17 core net profit within expectations

Heineken (M) Bhd
(Nov 22, RM17.80)
Upgrade to buy recommendation with a target price (TP) of RM19.14: Heineken (M) Bhd’s nine months of financial year 2017 (9MFY17) net profit of RM176.4 million came in within expectations at 73.3% of our full-year forecast but belo...

Heineken’s Ebit margin expected to be sustained

AEON Co (M) Bhd
(Nov 15, RM1.99)
Maintain hold with a target price of RM2.23: AEON Co (M) Bhd’s results for the third quarter of financial year 2017 (3QFY17) are expected to be released on Nov 23. We expect cumulative earnings for the first nine months of FY17 (9MFY...

Double-digit FY18 top-line growth seen for AEON Co

IJM Corp Bhd
(Nov 14, RM3)
Upgrade to buy with an unchanged target price (TP) of RM3.50: IJM Corp Bhd has received a letter of acceptance from Damansara Uptown Retail Centre Sdn Bhd for the design, construction, completion and commissioning of a proposed 31-storey o...

Job win seen to boost IJM order book to RM9b

Padini Holdings Bhd
(Oct 19, RM4.59)
Downgrade to sell with an unchanged target price (TP) of RM4.67: Key takeaways from our meeting with Padini Holdings Bhd’s management are: i) its store rendering programme; ii) its overseas expansion; and iii) reducing imports fr...

Padini plans to expand regionally to diversify earnings

British American Tobacco (Malaysia) Bhd
(Oct 5, RM42.70)
Maintain buy with an unchanged target price of RM52.08: British American Tobacco (Malaysia) Bhd’s (BAT) results for the third quarter of financial year 2017 (FY17) are expected to be released on Oct 23. We exp...

BAT seen to actively promote premium cigarette brands

Eversendai Corp Bhd
(Sept 8, RM1.06)
Maintain sell with an unchanged target price (TP) of 58 sen: We attended Eversendai Corp Bhd’s results briefing for its second quarter of financial year 2017 (2QFY17). While the profit margin recovered after a major kitchen-sinki...

Eversendai confident of hitting RM2b revenue target this year

This article first appeared in The Edge Financial Daily, on December 22, 2016.

 

Automotive sector
Maintain underweight: Total industry volume (TIV) in November registered a slight uptick to 49,100 units (month-on-month [m-o-m]: +...

Dec auto sector TIV seen to surge

KUALA LUMPUR (Oct 25): Paramount Property, the property development arm of Paramount Corporation Bhd (KL:PARAMON), has signed a development agreement with Lembaga Perumahan Negeri Pulau Pinang (LPNPP) for the proposed redevelopment of 15.3 acres of land in Ujong Batu, Butterworth, Penang.

Paramount Property, Penang Housing Board sign agreement for Ujong Batu redevelopment

(Oct 25): The opposition Conservative Party won an election in the Canadian province of British Columbia for the first time in nearly 100 years, promising to ramp up liquefied natural gas production, provisional results showed on Sunday.

Conservative party wins first election in nearly a century in British Columbia

LUMUT (Oct 25): The proposed establishment of an artificial intelligence (AI)-focused polytechnic in Lumut has been included in Rolling Plan 3 of the 13th Malaysia Plan (13MP), with preliminary work expected to begin next year.

Zambry: AI-focused polytechnic in Lumut included in 13MP Rolling Plan 3

(Oct 25): IndiGo and Air India will move some of its international operations to Navi Mumbai International Airport as two of India’s biggest airlines expand their presence at the new aviation facility serving the country’s financial capital.

IndiGo, Air India to shift some flights to new Mumbai airport

ZURICH (Oct 25): As many as 12,000 UBS jobs in Switzerland could be at risk if tougher capital rules prompt the bank to relocate, according to the Swiss Bank Employees Association, or SBPV.

Employees group warns of major Swiss job losses if UBS relocates

(Oct 25): Suzhou Dongshan Precision Manufacturing Co, a printed circuit board maker, raised about HK$9.9 billion (US$1.3 billion) in Hong Kong’s biggest listing in nearly two months, which hit a volatile market for companies related to the artificial intelligence build out.

Chinese manufacturer Dongshan raises US$1.3 bil in HK listing

KUALA LUMPUR (Oct 25): Eight areas nationwide recorded unhealthy air quality as of 6pm on Sunday, with Serian IPD in Sarawak recording the highest Air Pollutant Index (API) reading of 192.

Haze: Eight areas record unhealthy API readings as of 6pm

LONDON (Oct 25): British Prime Minister Andy Burnham has said he wants a discussion about returning to the European Union's (EU) freedom of movement rules for workers, a key issue in the 2016 Brexit referendum which led to Britain leaving the bloc.

UK's Burnham says he is open to discussing EU free movement

KUCHING (Oct 25): Gabungan Parti Sarawak (GPS) must continue to lead the state government to ensure the continuity of socioeconomic development and to keep the future of the people on the right track, said Sarawak Deputy Premier Datuk Amar Awang Tengah Ali Hasan.

Sarawak polls: GPS needs to continue leading state for continuity of development — Awang Tengah

BELGRADE (Oct 25): Serbian voters turned out in force on Sunday as a mass student protest movement seeks to unseat longtime populist leader Aleksandar Vucic in the biggest challenge to his rule for more than a decade.

Serbia votes in historic election as students seek to end Vucic's long grip on power

GEORGE TOWN (Oct 25): The Penang Island City Council (MBPP) has ordered an immediate halt to condominium construction and roadworks on a hillside near the site of a landslide that claimed a man's life in Taman Seri Rambai, Paya Terubong, here on Sunday.

Penang Island City Council issues stop-work order for condo, road projects after fatal landslide

KLANG (Oct 25): The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has said that his&nbsp;views, criticisms and concerns on matters relating to the state administration are not intended to interfere in the affairs of the state government.

Sultan of Selangor: Criticisms aimed at safeguarding people's well-being, not interfering in govt affairs

KUALA LUMPUR (Oct 25): Prime Minister Datuk Seri Anwar Ibrahim on Sunday extended his congratulations to the Sultan of Selangor, Sultan Sharafuddin Idris Shah, in conjunction with the Silver Jubilee marking 25 years of His Royal Highness'&nbsp;reign.

Anwar congratulates Sultan of Selangor on Silver Jubilee of reign

(Oct 25):&nbsp;Goldman Sachs Group Inc&nbsp;strategists slashed their target for South Korea’s Kospi Index by 25%, after raising it repeatedly this year, as concerns over the artificial intelligence trade intensify.

Goldman cuts Kospi 12-month target by 25% as AI trade unravels

KUALA TERENGGANU (Oct 25): The Sessions Court here on Sunday discharged and acquitted a retired Rubber Industry Smallholders Development Authority (Risda) employee of six charges of misappropriating RM15,350 in association funds about 10 years ago.

Court acquits retired Risda employee of six charges of misappropriating RM15,350

(Oct 25):&nbsp;Singapore Prime Minister Lawrence Wong pledged more support for workers and households, and said the government would step up efforts to secure energy supplies and attract investment as the city-state confronts growing global uncertainty.

Singapore’s Wong vows more support for workers, energy security

SINGAPORE (Oct 25): Malaysia has significant potential to expand power generation capacity and attract data centre developers, but meeting rising electricity demand will also require adequate transmission capacity and access to land and water, said Japan's largest power generation company,&nbsp;Jera.

Malaysia needs adequate power, grid capacity to attract data centres — Jera

KOTA KINABALU (Oct 25): The people of Sabah and Sarawak remain firmly committed to upholding Malaysia's sovereignty and reject any provocation involving the disrespectful display of the Jalur Gemilang by irresponsible parties overseas,&nbsp;Minister in the Prime Minister's Department (Sabah and Sarawak) Datuk Mustapha Sakmud said.&nbsp;

Sabah, Sarawak people uphold Malaysia’s sovereignty — Mustapha

KLANG (Oct 25): Orang Besar Istana Engku Maharaja Lela Setia Paduka Datuk Syed Budriz Putra Jamalullail Syed Amir Abidin Jamalullail topped the list of six recipients of Selangor state honours conferred in conjunction with the Silver Jubilee marking the 25th year of the reign of the Sultan of Selangor, Sultan Sharafuddin Idris Shah, on Sunday.

Orang Besar Istana Syed Budriz Putra Jamalullail leads six Selangor honours recipients

ISKANDAR PUTERI (Oct 25): The Johor government is targeting the generation of&nbsp;about&nbsp;five gigawatts (GW) of solar energy over the next four to five years as a long-term solution to meet the surge in electricity demand driven by the rapid growth of the state’s data centre sector.

Johor eyes additional 5GW of solar energy by 2031 to meet data centre demand

BAGAN DATUK (Oct 25): Malaysia remains committed to its offer of assistance to Indonesia to address the transboundary haze affecting the country, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Malaysia remains committed to offer of aid to Indonesia to tackle haze — Ahmad Zahid

(Oct 25):&nbsp;France avoided a repeat of large-scale violence and looting that marred nationwide protests a week ago, suggesting the government’s decision to boost police numbers and contain marches paid off.

France dodges repeat of looting and riots with tougher security

LAM&nbsp;DONG, Vietnam (Oct 25):&nbsp;A 40-year-old Malaysian woman was rescued after falling into a 10m-deep hole while hiking in Da Lat, Lam Dong,&nbsp;on Sunday, the Vietnam News Agency (VNA) reported, citing&nbsp;local authorities.

Malaysian rescued after falling into a 10-metre-deep hole in Da Lat, Vietnam

(Oct 25):&nbsp;British Columbia is set to elect its first Conservative Party majority in 98 years, according to Canadian broadcasters, swinging Canada’s third most populous province to the political right.

British Columbia’s left-wing leader loses to Conservatives in vote he called

KYIV (Oct 25): Tech tycoon Elon Musk accused Ukraine on Saturday (Oct 24)&nbsp;of violating Starlink's terms of service by using it for "drone strikes to kill people", after tension between Washington and Kyiv over disruptions to the SpaceX-made network crucial to the Ukrainian army's operations.

Musk accuses Ukraine of violating Starlink's terms of service

(Oct 25):&nbsp;Brookfield Asset Management Ltd&nbsp;is opening an office in Qatar, deepening its presence in the Middle East where many countries are grappling with the economic fallout from the war.

Brookfield to open Doha office to deepen its Middle East reach

ZURICH (Oct 25): As many as 12,000 UBS jobs in Switzerland could be at risk if tougher capital rules prompt the bank to relocate, according to the Swiss Bank Employees Association, or SBPV.

(Oct 25): The opposition Conservative Party won an election in the Canadian province of British Columbia for the first time in nearly 100 years, promising to ramp up liquefied natural gas production, provisional results showed on Sunday.

LUMUT (Oct 25): The proposed establishment of an artificial intelligence (AI)-focused polytechnic in Lumut has been included in Rolling Plan 3 of the 13th Malaysia Plan (13MP), with preliminary work expected to begin next year.

(Oct 25):&nbsp;IndiGo and Air India will move some of its international operations to Navi Mumbai International Airport as two of India’s biggest airlines expand their presence at the new aviation facility serving the country’s financial capital.

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