Phillip Capital has maintained its 'buy' rating for Kerjaya Prospek Group Bhd (KL:KERJAYA) at RM2.03, with a higher target price of RM2.60 (from RM2), and expects continued robust contract replenishment from Eastern & Oriental Bhd (KL:E&O) and Kerjaya Prospek Property Bhd (KL:KPPROP), with the company actively bidding for RM3 billion worth of data centre and semiconductor related jobs.

Phillip Capital keeps 'buy' on Kerjaya Prospek, ups target price to RM2.60

Shares of Gadang Holdings Bhd (KL:GADANG) nearly erased three weeks of gains after TA Securities, the sole research house covering the stock, downgraded the construction company to ‘sell’ on weaker-than-expected results.

Gadang shares fall as TA Securities cuts to 'sell' after below-view FY2024 results

Phillip Capital has maintained its 'buy' rating for TT Vision Holdings Bhd (KL:TTVHB) at RM1.06, with an unchanged target price of RM1.50, and expects TTV to report higher sequential earnings in the upcoming results for the second quarter ended June 30, 2024 (2QFY2024), driven by increased order deliveries and a robust order backlog.

Phillip Capital expects TT Vision to report higher sequential earnings in 2Q

Hong Leong Investment Bank (HLIB) Research has maintained its 'buy' rating for Axis REIT (KL:AXREIT) at RM1.87, with a lower target price of RM2.03 (from RM2.04), saying the real estate investment trust's quarterly core net profit of RM39.6 million, which was 1.1% lower quarter-on-quarter but 17.2% higher year-on-year, brought the sum to RM79.6 million for the first half ended June 30, 2024 (1HFY2024).

Axis REIT to see sustained earnings in 2H, says HLIB

Phillip Capital has maintained its 'buy' rating for Genting Malaysia Bhd (KL:GENM) at RM2.57, with an unchanged target price of RM3.45, and said the casino group’s video gaming machine (VGM) operations continued to outperform its peers in New York, with its market share expanding to 43.3%.

New York downstate casino licence to be awarded by end-December 2025, positive for GenM — Phillip Capital

CGS International maintained its 'add' rating for Genting Plantations Bhd (KL:GENP) at RM5.88, with an unchanged target price of RM6.62, saying Genting Plantations' plan to acquire some 152 hectares of land in Indonesia is positive for the group, as it expands its footprint in the property development business in the republic.

Genting Plantations’ Jakarta land acquisition positive for property development, says CGS International

Tenaga Nasional Bhd (KL:TENAGA) or TNB is expected to keep increasing its capital expenditure (capex) beyond 2030, with an additional RM1 billion to RM2 billion a year, to maintain its power grid infrastructure, which recently hit new peak demand due to data centres, said PublicInvest Research.

PublicInvest upgrades TNB to 'outperform', expects capex to increase by RM1b to RM2b yearly to meet data centre power demand

Alpha IVF Group Bhd (KL:ALPHA) is set for stronger earnings growth in the next 12 months, while analysts continue to recommend investors to buy shares in the fertility care company on attractive valuations.

Alpha IVF set for stronger earnings, current valuations unjustified — analysts

Kenanga Research said MSM Malaysia Holdings Bhd (KL:MSM) is showing signs of a potential rebound after consolidating at RM2.20, aligning with its 200-day simple moving average (SMA).

MSM showing signs of potential rebound, says Kenanga

Rakuten Trade has maintained its 'buy' rating for SNS Network Technology Bhd (KL:SNS) at 84 sen, with a higher target price of RM1.23 (from 54 sen), and rolled over its valuation to the financial year ending Jan 31, 2026 (FY2026), based on price-earnings of 25 times.

Rakuten sees SNS riding AI server boom, ups target price to RM1.23

The rally in shares of Dialog Group Bhd (KL:DIALOG) still has more legs to go from elevated storage rates and higher margins from its recently renewed plant maintenance contract, AmInvestment Bank said.

Dialog shares still have more upside — AmInvestment Bank

RHB Investment Bank has maintained its “buy” rating on Gamuda Bhd (KL:GAMUDA) at RM7.80 with a higher target price of RM9.68 (from RM7.69) and said Gamuda remains undervalued — explaining that it is trading at 18 times FY25F P/E, which is not far from the 16 times seen during the 2017 upcycle when the outstanding orderbook was just around RM7.4 billion versus around RM24 billion now.

RHB IB raises target price for Gamuda to RM9.68, says stock is undervalued

Shares of Bumi Armada Bhd (KL:ARMADA) surged to a nearly three-month high on Tuesday, following news of a potential stake acquisition by MISC Bhd (KL:MISC) in the floating production storage and offloading (FPSO) company.

Bumi Armada climbs to near three month high on MISC’s potential stake acquisition

SINGAPORE (Aug 31): The following stocks are in focus and may see price action today:

IHH Healthcare Berhad has signed agreements to acquire a 73.4% stake in India-based Ravindranath GE Medical Associates Private Limited (Global Hospitals) for INR12.84 billion ($272 million) through its...

IHH Healthcare, Keppel O&M, China Fishery, AusGroup, Linc Energy, Loyz Energy, OKH

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Premier: Sarawak expects to ink S&P on Affin Bank deal in a month

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Treasuries rally as data points to a September rate cut

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce & Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.

Miami condo tower moves on from brokers facing rape allegations

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Deputy PM Fadillah pays courtesy visit to Vietnamese PM, strengthens bilateral cooperation

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Wall Street rebounds on tech recovery, small caps jump after benign inflation data

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

Malaysia urges Asean dialogue partners to support ceasefire in Gaza

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

US charges Citron's Andrew Left over alleged multi-million fraud scheme

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Malaysia steps up efforts to finalise South China Sea code of conduct

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

AirAsia X, Capital A, Hibiscus, Dagang NeXchange, ViTrox, Ekovest, Knusford, Alam Maritim, Datasonic, Kumpulan Kitacon, DXN, Homeritz, Westport, MGRC 

VIENTIANE (July 26): The Asean Post Ministerial Conference kicked off in the Laos capital here on Friday, as Asean foreign ministers engaged with top diplomats from dialogue partners to discuss various regional and international issues of common interest.

Asean Post Ministerial Conference kicks off in Laos; regional, global issues in focus

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

Ekovest Bhd (KL:EKOVEST) said it has agreed to a further extension of time to discuss a merger between its wholly owned subsidiary Ekovest Construction Sdn Bhd (ECSB) and Knusford Bhd (KL:KNUSFOR).

Ekovest agrees to six-month extension for merger discussion between subsidiary and Knusford

US prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services, underscoring an improving inflation environment that could position the Federal Reserve to begin cutting interest rates in September.

US inflation rises moderately, consumer spending cools

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

The prestigious five-star Lexis Hibiscus 2 luxury resort is currently under construction by the KL Metro Group and is expected to be completed by 2029, said Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.

Construction of RM1.6 bil GDV Lexis Hibiscus 2 resort will be completed in 2029

Practice Note 17 (PN17) company Alam Maritim Resources Bhd (KL:ALAM) has announced its regularisation plan, which includes a share capital reduction of RM440 million, 10-to-one share consolidation, an issuance of renounceable rights shares with warrants and a scheme of arrangement with its creditors.

Alam Maritim submits regularisation plan to exit PN17 status

Health and wellness direct selling company DXN Holdings Bhd (KL:DXN) said on Friday its net profit rose 10.26% in the first quarter from a year earlier due to higher revenue recognised from overall operating segments.&nbsp;

DXN Holdings 1Q net profit up 10.26%, targets market presence in Zambia, Ghana  

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Upholstery furniture products manufacturer Homeritz Corp Bhd’s (KL:HOMERIZ) net profit surged 46.37% in the third quarter from a year earlier, thanks to higher sales volume and stronger US dollar. &nbsp;

Net profit for three months ended May 31, 2024 (3QFY2024) climbed to RM9.09 million or earnings per share of 1.96 sen, from RM6.21 million or 1.34 sen per share recorded in 3QFY2023. &nbsp;

Homeritz’s 3Q net profit soars 46.37% on higher sales and strong greenback

Cyberview Sdn Bhd has signed three Memoranda of Understanding (MOUs) with three companies to make Cyberjaya a global technology hub.

Chief executive officer Kamarul Ariffin Abdul Samad said the companies involved were Permodalan Negeri Selangor Bhd (PNSB), Selangor Information Technology &amp; Digital Economy Corporation (SIDEC) and digital infrastructure company Equinix Malaysia.

Cyberview signs three MOUs to make Cyberjaya a global technology hub

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce &amp; Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.&nbsp;

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

Kumpulan Kitacon bags RM54.5m job to build houses in Rawang

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Penang Port Sdn Bhd (Penang Port) on Friday announced the acquisition of five Kalmar container handling machines to optimise operations and improve service levels.

Penang Port acquires Kalmar container handling equipment to enhance services

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

Hungary will face fuel shortages from September if full Russian oil flows are not restored, a government official said on Friday, accusing Ukraine of blackmailing it by partially suspending supplies.

Eastern European Union (EU) members Slovakia and Hungary have been hit by a stop in flows from Russian group Lukoil coming via Ukraine after sanctions were imposed on the company.

Hungary says it will face fuel shortages from September without Lukoil supplies

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

A new recruitment of 3,950 staff, comprising 3,200 medical officers, 350 dental officers and 400 pharmacy officers, will be made through contract (interim) appointments, the Ministry of Health (MOH) said.

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