<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 19):&nbsp; Hong Leong Investment Bank (HLIB) Research has maintained its “Sell” rating on Top Glove Corp Bhd at 97.5 sen with a lower target price (TP) of 51 sen (from 53 sen), and said Top Glove registered 9MFY2023 core of LATAMI RM420.7 million (vs 9MFY2022: RM255.8 million).</p></div>

<div class=newsTextDataWrapInner><p>In a note on Monday (June 19), the research house said despite losses narrowing, Top Glove’s performance still came in below house (-RM409. 2 million) and consensus (-RM460.5 million) estimates.</p></div>

<div class=newsTextDataWrapInner><p>It said deviations were due to lower-than-expected revenue.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We cut our FY2023f/ 2024f/ 2025f profit projections to -RM493.5 million/-RM223.9 million/RM162.6 million (from -RM409.2 million/RM66.3 million/ RM174.3 million), as we lower our revenue forecasts.</p></div>

<div class=newsTextDataWrapInner><p>“Maintain Sell as we do not anticipate Top Glove to return to black anytime soon.</p></div>

<div class=newsTextDataWrapInner><p>“TP i s lowered to 51 sen (from 53 sen) post earnings adjustment and rolling over of valuation base year. Our TP represents P/B of 0.8x (close to -2SD to its 5-year pre-pandemic mean), on its FY2024f BVPS,” it said.</p></div>


KUALA LUMPUR (June 19):  Hong Leong Investment Bank (HLIB) Research has maintained its “Sell” rating on Top Glove Corp Bhd at 97.5 sen with a lower target price (TP) of 51 sen (from 53 sen), and said Top Glove registered 9MFY2023 core of LATAMI RM420.7 million (vs 9MFY2022: RM255.8 million).

HLIB does not anticipate Top Glove to return to black anytime soon

President Emmanuel Macron said he would be open to seeing a major French bank being taken over by a European Union rival in order to spur the deeper financial integration he sees as critical for the bloc’s future prosperity.

Macron puts French banks in play with plan to transform Europe

LONDON (May 14): Some of the world's largest investors are making deeper inroads into lending to commercial property, as they snap up market share from retreating banks and bet on an end to the sharp drops in real estate prices.

U.S. fund firms PGIM, LaSalle and Nuveen, Canada's Br...

Big-name funds pile into real estate debt as banks retreat

British wages grew by more than expected, according to data published on Tuesday, but other figures suggested the labour market is losing some of its inflationary heat, keeping the Bank of England (BOE) on alert about when to cut interest rates.

UK pay grows by more than expected as BOE mulls rate cuts

LONDON (May 14): Anglo American on Tuesday laid out a strategic review that includes a potential break-up of the company by demerging or selling its steelmaking coal, nickel, diamonds and platinum businesses, as it tries to fend off a takeover bid from the world's largest miner BHP Group.

Anglo American eyes break-up, steelmaking coal, nickel, diamonds offloads

MGB Bhd (KL:MGB) is expected to report stronger first quarter earnings when the construction company reports its financial results by this month-end, according to RHB Investment Bank.

MGB to post stronger 1Q earnings on higher progress billings — RHB

Single mother Loh Siew Hong, who has been embroiled in a legal battle over her three minor children's religious status with the Perlis religious authorities, has succeeded in her appeal at the Federal Court, which has ruled that her children remain non-Muslim.

Loh's children remain non-Muslim, apex court bins Maips' bid to challenge kids' religious status

Apple supplier Foxconn reported a 72% rise in first-quarter profit, boosted by strong demand for artificial intelligence (AI) servers and coming off a low base from the same period a year earlier, but the growth was lower than expected.

Apple supplier Foxconn's 1Q profit jumps 72% but misses forecasts

Just as the atomic bomb ushered in the nuclear age, generative artificial intelligence’s (gen AI) potential singularity looms over journalism. With growing mistrust towards journalism and AI posing as a potential threat to the industry, crafting ethical guidelines for Malaysian newsrooms becomes paramount.

AI in journalism: Friend or foe?

Walking along the shoreline of Seri Tanjung Pinang 1 (STP1) on Penang island with the cool sea breeze blowing is a welcome respite from the hustle and bustle of city life. Developed by Eastern & Oriental Bhd (E&O), STP1 features a plethora of amenities and facilities, as well as residenti...

Cover Story: Developing community living sustainably

THE reverse takeover (RTO) of Ancom Logistics Bhd by Green Lagoon Technology Sdn Bhd, a company that is involved in the development of palm oil mill effluent (POME) anaerobic lagoon biogas-to-power projects, will result in the total decarbonisation of the former’s holding company Ancom Nylex Bhd....

Ancom Nylex to decarbonise via RTO of Ancom Logistics

<p>Malaysia Airports Holdings Bhd (KL:AIRPORT), or MAHB, is ready to have Mohamed Rastam Shahrom at the helm of&nbsp;the airport operator permanently after seven months as acting group chief executive officer, according to sources.</p>


MAHB to name Mohamed Rastam as permanent CEO soon, sources say

<p>Shares of Farm Price Holdings Bhd (KL:FPHB) doubled in its trading debut on Tuesday after the fresh vegetable wholesaler and distributor’s initial public offering (IPO) on the ACE Market raised RM24.48 million.</p>


Farm Price doubles its IPO price on ACE Market debut

<p>Single mother Loh Siew Hong, who has been embroiled in a legal battle over her three minor children's religious status with the Perlis religious authorities, has succeeded in her appeal at the Federal Court, which has ruled that her children remain non-Muslim.</p>


<p>KUALA LUMPUR (May 13): The US International Trade Commission (USITC) has determined that there is a reasonable indication that an industry in the US is threatened by the import of dioctyl terephthalate (DOTP) from Malaysia, Poland, Taiwan and Türkiye.</p>


US investigating sale of plasticizers for PVC from Malaysia, other countries

<p>Shares of Dialog Group Bhd (KL:DIALOG) hit a 15-month high on Tuesday after the company's third-quarter results came in slightly stronger than expected while analysts broadly told investors to accumulate the stock.</p>


Dialog shares test 15-month high on strong 3Q results

<p>The public has been reminded to remain vigilant against scams involving individuals impersonating National Scam Response Centre (NSRC) officers, which may result in monetary losses.</p>


Banking groups warn public of National Scam Response Centre officer impersonation scams

<p>KUALA LUMPUR (May 14): Businessman Tan Sri Halim Saad’s latest suit against former prime minister Tun Dr Mahathir Mohamad, Tan Sri Nor Mohamed Yakcop and the federal government, in which Halim claimed his constitutional rights under Articles 8(1) and 12(1)(2) of the Federal Constitution for the government’s purchase of 32.69% stake in Renong Bhd from United Engineers Malaysia Bhd (UEM), a unit of Renong Bhd, has been struck out.</p>


High Court strikes out Halim Saad’s latest suit against Dr M, Nor Mohamed Yakcop and govt

<p>KUALA LUMPUR (May 14): Shares of PTT Synergy Group Bhd (KL:PTT) soared on Tuesday to their highest in nearly 24 years, as news of two construction contracts worth RM169.85 million attracted the attention of investors.&nbsp;</p>


PTT Synergy shares soar to over two-decade high on contract news

<p>Shares in Swift Haulage Bhd (KL:SWIFT) eased off their three-month high on Tuesday, as analysts flagged headwinds ahead, following weaker-than-expected first-quarter results.</p>


Swift Haulage off three-month high as analysts flag headwinds after below-view 1Q

<p>KUALA LUMPUR (May 14): Shares of Carlsberg Brewery Malaysia Bhd (KL:CARLSBG) surged to a three-month high on Tuesday, as analysts continued to recommend “buy” for the stock, following the group’s first quarter results.&nbsp;</p>


Carlsberg Malaysia climbs to three-month high as analysts see better prospects after 1Q results

<p>Shares of AME Elite Consortium Bhd (KL:AME) rose to a new all-time high on Tuesday after the company announced a land sale for RM209.84 million to a Hong Kong-based data centre operator.</p>


AME Elite shares rise to new record high on Pulai land sale

<p>Swift Energy Technology Bhd, which sells industrial automation and power systems, filed for an initial public offering (IPO) on ACE Market to raise funds for the construction of new facilities and expansion abroad.</p>


Swift Energy files for ACE Market IPO to raise funds for expansion

<p>KUALA LUMPUR (May 13): The narrowing gap between the valuations of the small-cap stocks versus that of big-cap ones on Bursa Malaysia&nbsp;present opportunities for investors who are willing to navigate the market with diligence and insight, according to RHB Investment Bank Research.</p>


RHB: Narrowing gap between valuations of small and big cap stocks present opportunities for investors

<p>The comfortable win by the Pakatan Harapan (PH) and unity government's candidate, Pang Sock Tao, in the recent Kuala Kubu Baharu (KKB) by-election was indeed an impressive one where the overall vote share increased from 54.4% to 56.6% and the previous majority was almost maintained (4,119 in 2023 versus 3,869 in 2024) even though turnout decreased (from 67.6% to 61.5%) .</p>


Kuala Kubu Baharu by-election a confidence-building victory for PH and unity govt, but warnings signs need to be heeded

<p>RHB Retail Research said Cloudpoint Technology Bhd (KL:CLOUDPT) is set to resume its uptrend after observing a breakout above the 68 sen level last Thursday — backed by surging volume.</p>


Cloudpoint set to resume its uptrend, says RHB Retail Research 

<p>Asian shares hovered around 15-month highs on Tuesday and the dollar was firm ahead of highly anticipated US inflation data, while Japanese bonds were squeezed as the central bank pulled back a little on its bond buying programme.</p>


Asia shares hit 15-month high as traders wait for CPI

<p>KUALA LUMPUR (May 14): Vegetable wholesaler and distributor Farm Price Holdings Bhd (KL:FPHB) on Tuesday said it is aiming for at least 10% growth in earnings this year.</p>


Farm Price eyes double-digit earnings growth for FY2024

<p>The S&amp;P 500 closed very slightly lower on Monday as investors took a breather after three weekly gains while they awaited key inflation readings and earnings reports due this week while a survey showed consumers concerned about inflation.</p>


S&P 500 barely changes as investors hold tight ahead of inflation data

<p>MIDF Research said it foresees Malaysia’s civil engineering segment, particularly under the public corporations, to continue growing strongly amid key infrastructure projects such as Penang Light Rail Transit, East Coast Rail Link and potential projects like high-speed rail and Mass Rapid Transit Line 3.</p>


MIDF foresees Malaysia’s public civil engineering segment to continue growing strongly

<p>Binastra Corp Bhd (KL:BNASTRA), formerly known as Comintel Corp Bhd, charted a new all-time high and emerged among the top gainers on Bursa Malaysia during Tuesday’s morning trading session.</p>
