<div class=newsTextDataWrapInner>KUALA LUMPUR (April 4): Hong Leong Investment Bank (HLIB) Research has valued CWG Holdings Bhd at 45 sen and said CWG's earnings have bottomed out and are poised for a strong rebound in the financial year 2023 (FY2023) to FY2024, given the easing freight rate and a less competitive landscape following the Covid-19 industry washout that has resulted in increased export sales.</div>

<div class=newsTextDataWrapInner>In a note on Tuesday (April 4), the research house said that in the long run, CWG’s sales is envisaged to grow alongside the global literacy wave, with promising growth potentials in the Arab world, South Asia, and Sub-Saharan Africa, where adult literacy rates remain below the global average and are increasing at a faster pace.</div>

<div class=newsTextDataWrapInner>“We are projecting CWG’s core net profit to grow at a strong [forecasted] FY2022-FY2024 CAGR (compound annual growth rate) of 59%.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>“We value CWG at 45 sen based on 13.5 times price-earnings on forecasted FY2023 earnings,” it said.</div>

Hong Leong Investment Bank (HLIB) Research has valued CWG Holdings Bhd at 45 sen and said CWG's earnings have bottomed out and are poised for a strong rebound in the financial year 2023 (FY2023) to FY2024, given the easing freight rate and a less competitive landscape following the Covid-19 industry washout that has resulted in increased export sales.

CWG poised for strong rebound in FY2023-FY2024, says HLIB

Here is a brief recap of some corporate announcements that made the news on Thursday.

Bumi Armada, MISC, Berjaya Food, Mr DIY, Prolintas, Lysaght, Keyfield, Teo Seng, YTL Power, Ranhill Utilities, Seal and LBS Bina

US regulators led by the Federal Reserve have refused to endorse a plan that would have seen the Basel Committee on Banking Supervision push lenders to disclose their climate risk, according to people familiar with the matter.

Fed refuses to back Basel climate plan, leaving talks in limbo

Ford Motor Co agreed to a US$165 million (RM733.5 million) civil penalty to settle allegations the company failed to recall cars with defective rearview cameras in a timely manner, the second largest fine ever levied by the National Highway Traffic Safety Administration (NHTSA).

Ford hit with near-record US$165 mil penalty on recall failure

Small and medium enterprises (SMEs) play a crucial role in driving economic growth within the Asia-Pacific Economic Cooperation (Apec) region, particularly when it comes to fostering inclusive development, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

SMEs play crucial role in driving growth in Apec economies, fostering inclusivity — Tengku Zafrul

The government will draft the Government Procurement Bill (GP Bill) in taking specific steps to increase transparency in the government procurement process, according to the Ministry of Finance.

Govt procurement draft bill to be tabled in Parliament next year

Bina Puri Holdings Bhd (KL:BPURI) said on Thursday that its associate company KL-Kuala Selangor Expressway Bhd (Latar) has won an arbitration case against Prolintas Expressway Sdn Bhd and was awarded RM46.13 million.

Bina Puri's associate wins RM46 mil in arbitration case against Prolintas 

Walt Disney Co posted fiscal fourth-quarter (4Q) sales and profit that beat Wall Street estimates and forecast earnings growth for the next three years, a rare event for a company that historically hasn’t made long-range profit projections.

Disney 4Q profit beats expectations as movies, streaming gain

The number of women holding positions as Members of Parliament, State Assembly members and ministers in Malaysia remains low, said Deputy Minister of Communications Teo Nie Ching.

Female representation in Parliament, state assemblies still low, says Teo

Wall Street's main indexes edged lower in choppy trading on Thursday after monthly producer prices rose as expected, with investors awaiting Federal Reserve (Fed) Chair Jerome Powell's comments later in the day for clues on the outlook for interest rates.

Wall Street struggles for direction after in-line monthly producer prices

Chinese President Xi Jinping will arrive in Lima on Thursday, kicking off a week-long diplomatic blitz in Latin America by inaugurating the massive Chancay deepwater port, one of Beijing's most ambitious infrastructure investments in Latin America.

China's Xi arrives in Lima for Apec, to open Pacific megaport

Gold miner Niche Capital Emas Holdings Bhd (KL:NICE) has commenced gold mining operations at the Sokor North Gold Mine in Kelantan, with the successful commissioning of its heap leaching plant there.

Niche Capital Emas begins gold mining ops in Kelantan

Cash-rich Lysaght Galvanized Steel Bhd (KL:LYSAGHT) has declared a special dividend of 35 sen per share as its quarterly earnings rose to an eight-year high.

This brings the total dividend declared to 43 sen per share in the current financial year ending Dec 31, 2024 (FY2024) so far — the highest since FY2018 when it paid out 50 sen dividend per share.

Lysaght pays special dividend of 35 sen as earnings rise to eight-year high

Scomi Energy Services Bhd (KL:SCOMIES), a Practice Note 17 (PN17) company, said it is "in a preliminary discussion with a white knight to formulate a regularisation plan to be submitted before Jan 31, 2025". It did not elaborate.

Scomi Energy says in talks with another potential white knight after Dhaya Maju deal falls through

Berjaya Food Bhd (KL:BJFOOD) on Thursday posted its fourth consecutive quarter in the red as the anti-Israel boycott movement continued to affect the group, which operates the Starbucks coffee chain in Malaysia.

Berjaya Food logs fourth quarter in the red due to anti-Israel boycott

Home-grown retailer Mr D.I.Y. Group (M) Bhd (KL:MRDIY) saw a marginal 1.9% drop in its third-quarter net profit, on higher administrative and other operating expenses, which increased by 25.6% and 10.2% year-on-year (y-o-y) to RM56.7 million and RM283.7 million respectively.

Higher administrative expenses drag down Mr DIY's 3Q net profit slightly, one sen dividend declared

Teo Seng Capital Bhd (KL:TEOSENG) posted a 32.4% jump in its third quarter net profit, lifted by strong gains in its key poultry farming business, as well as its segment on investments and trading of poultry-related products.

Net profit for its July-September quarter (3QFY2024) climbed to RM58.1 million from RM43.8 million a year ago.

Teo Seng signals strong prospects as it posts 32% jump in 3Q profit 

CapitaLand Malaysia REIT Management Sdn Bhd (CMRM), the manager of CapitaLand Malaysia Trust (KL:CLMT), has appointed Yong Su-Lin as chief executive officer, designate (CEO designate) of the company effective Jan 2, 2025.

CapitaLand Malaysia Trust names Yong Su-Lin as CEO-designate from Jan 2

Prolintas Infra Business Trust (KL:PLINTAS), which owns highways, nearly tripled its net profit for the third quarter thanks to a jump in toll collection and tax credit.

Prolintas Infra's 3Q net profit nearly triples as toll collection jumps, on track to meet distribution target

Here is a brief recap of some corporate announcements that made the news on Thursday.

UOA REIT (KL:UOAREIT) saw its net rental income fall 12.6% to RM18.66 million in its third quarter ended Sept 30, 2024 (3QFY2024), from RM21.34 million a year ago, as gross rental dropped on the departure of an anchor tenant, while operating expenses climbed.

UOA REIT's 3Q rental income falls on loss of anchor tenant, higher expenses

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

EVENING 5: Five things you need to know today

ACE Market-listed Farm Price Holdings Bhd (KL:FPHB), a Johor-based wholesaler and distributor of fresh vegetables, food and beverage (F&amp;B) products, is expanding its distribution reach to Sabah.

Farm Price ventures into Sabah's fruit business via stake purchase in KK firm

YTL Power International Bhd's (KL:YTLP) 53.2%-owned subsidiary Ranhill Utilities Bhd (KL:RANHILL) has scrapped plans to jointly pursue a public-private partnership project with China Energy International Group Co Ltd (CEIG) for the proposed development of a regional drinking water supply facility project in Indonesia. This follows the expiry of a memorandum of understanding (MOU) on Oct 29.

Ranhill Utilities, China Energy scrap plan to pursue water supply facility project in Indonesia

Petroliam Nasional Bhd (Petronas) has made new investments totalling RM7.5 billion at the Pengerang Integrated Complex (PIC) near Kota Tinggi.

Petronas invests another RM7.5b in Pengerang Integrated Complex — Onn Hafiz

LBS Bina Group Bhd (KL:LBS) said it it looking into developing a 10-gigawatt (GW) green hydrogen plant in Kota Marudu, Sabah jointly with the Sabah Forestry Development Authority (Safoda) and two other companies.

LBS Bina inks MOU to develop green hydrogen plant in Sabah

Oil and gas services firm Keyfield International Bhd (KL:KEYFIELD) on Thursday reported record quarterly earnings and revenue, driven by higher vessels utilisation rates and increased vessel numbers.

Keyfield books record earnings for 3Q, pays four sen dividend

The number of Americans filing new applications for unemployment benefits fell last week, suggesting the labour market continued to chug along and that the abrupt slowdown in job growth in October was an aberration.

US weekly jobless claims fall; unemployment rolls shrink

Hume Cement Industries Bhd (KL:HUMEIND) posted a net profit of RM47.42 million for its first quarter ended Sept 30, 2024 (1QFY2025), down slightly from RM48.33 million a year ago, as lower market demand weighed on cement sales.

Hume Cement sees slight fall in 1Q profit, declares higher dividend

MELAKA (Nov 14): The Malaysian Institute of Road Safety Research (Miros) has introduced three safety guidelines for electric vehicles (EVs), aimed at improving the efficiency of EV safety management.

Loke: Miros issues guidelines on EV safety

Engineering outfit Pestech International Bhd (KL:PESTECH) said Shandong Power Equipment Co Ltd (Speco) has initiated arbitration proceedings against its wholly owned PESTECH Sdn Bhd (PSB) over what Speco claimed were unpaid dues related to the supply of transformers.