<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 10):&nbsp; Rakuten Trade has rated SkyWorld Development Bhd a “buy” at 80 sen with a target price (TP) of 96 sen based on the average PER of 8x and P/BV 0.8x.</p></div>

<div class=newsTextDataWrapInner><p>In a note on Monday (July 10), the research house said it expects SkyWorld to register net earnings of RM149.3 million and RM158.3 million for FY3/24 and FY3/25&nbsp;respectively.</p></div>

<div class=newsTextDataWrapInner><p>“SkyWorld is targeting to pay dividend of 20% from its net profit.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Based on our estimates, the company is expecting to pay dividend of three sen and 3.2 sen per share for FY3/24 and FY3/25, translating into yield of 3.7% and 4%.</p></div>

<div class=newsTextDataWrapInner><p>“Financial leverage is manageable with net gearing of 0.4x as at FY3/23 with strong interest coverage of about 15x.</p></div>

<div class=newsTextDataWrapInner><p>“Proceeds from the IPO will be mainly used for land acquisition, working capital and repayment of borrowings,” it said.</p></div>

<div class=newsTextDataWrapInner><p>SkyWorld is set to be listed on the Main Market of Bursa Malaysia today (July 10).</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/673480">Main Market-bound SkyWorld Development’s 4Q net profit at RM58m, announces three sen dividend</a><br />
<a href="https://theedgemalaysia.com/node/673159">Main Market-bound SkyWorld shares offered to public oversubscribed by 0.19 times</a></em></p></div>

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Rakuten Trade has rated SkyWorld Development Bhd a “buy” at 80 sen with a target price (TP) of 96 sen based on the average PER of 8x and P/BV 0.8x.

Rakuten Trade expects SkyWorld to register net earnings of RM149.3m and RM158.3m for FY3/24 and FY3/25

The legal counsel for Segambut Member of Parliament Hannah Yeoh has filed an appeal in the Court of Appeal on Thursday challenging the High Court's decision to dismiss her defamation suit against former inspector general of police Tan Sri Musa Hassan.

Hannah Yeoh appeals dismissal of defamation suit against ex-IGP

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

TNB, Samaiden, Gadang, Aizo, MyMBN, YTL Power, Kawan Renergy, Taghill, BHIC, Teck Guan, CCK, Lebtech, Southern Cable

Wall Street's main indexes drifted lower in light trading volumes on Thursday, as rising yields pressured some shares, while investors looked for a year-end boost from the so-called Santa Claus rally.

Wall Street slips as rising yields pressure some shares 

Azerbaijan Airlines’ Embraer SA 190 aircraft was damaged by Russian air defence systems near Grozny before it crashed in Kazakhstan during an attempted emergency landing, according to Azerbaijan government-backed Caliber news website.

Azeri plane hit by Russian air defence before crash — report

YTL Power International Bhd (KL:YTLPOWR) said on Thursday that the Employees Provident Fund (EPF) has once again ceased to be a substantial shareholder in the multi-utility owner and operator after offloading 14.93 million shares.

EPF ceases to be substantial shareholder in YTL Power

Keyfield International Bhd (KL:KEYFIELD) has issued its maiden RM200 million Islamic bonds (sukuk) under its sukuk wakalah programme of RM1 billion.

Keyfield International issues maiden RM200m sukuk

The Taiping High Court has awarded RM1.8 million in damages to a former security guard who sustained a brain injury due to medical negligence during treatment following a motorcycle accident in 2016.

Court awards RM1.8 mil to ex-security guard over medical negligence

EVENING 5: Base electricity tariff for 2025-2027 to be adjusted upward, says TNB

Finnish authorities said they had boarded and taken control on Thursday of an oil tanker travelling from Russia, on suspicion it had caused the outage on Wednesday of an undersea power cable and three internet lines connecting Finland and Estonia.

Finland boards oil tanker after internet and power cable outages

Recurring applications for US unemployment benefits rose to the highest in more than three years, adding to signs that it is taking longer for out-of-work people to find a job.

US continuing claims rise to highest in more than three years

<p>Peninsular Malaysia's base electricity tariff has been set at 45.62 sen per kilowatt hour (kWh) in the three-year regulatory period 2025-2027 (RP4), said Tenaga Nasional Bhd (TNB) (KL:TENAGA).&nbsp;</p>


TNB announces higher base electricity tariff for 2025-2027, raises capex to ensure reliable supply

<p>Tenaga Nasional Bhd (KL:TENAGA) said on Thursday that its unit has been shortlisted by the Energy Commission (EC) to develop a 500-megawatt (MWac) large-scale solar photovoltaic (PV) plant in Kuala Muda, Kedah.</p>


TNB among LSS5 winners, bags 500MW solar farm project in Kedah

<p>Boustead Heavy Industries Corp Bhd (KL:BHIC) has appointed former Royal Malaysian Air Force (RMAF) chief Tan Sri Roslan Saad as its independent non-executive chairman.</p>


Boustead Heavy Industries names ex-air force chief as chairman

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


<p>Bird's nest processor MyMBN Bhd (KL:MBN) said the government has imposed a temporary suspension on the export of bird's nest products to China following the discovery of the Newcastle disease in Malaysia.</p>


MyMBN says bird's nest exports to China suspended due to Newcastle disease

<p>CCK Consolidated Holdings Bhd (KL:CCK), a retail chain store and supermarket operator in Sabah and Sarawak, has declared its first-ever special dividend of five sen per share for the financial year ending Dec 31, 2024 (FY2024), payable Jan 22, 2025.</p>


CCK Consolidated declares first-ever special dividend of five sen

<p>YTL Power International Bhd (KL:YTLPOWR) said on Thursday that the Employees Provident Fund (EPF) has once again ceased to be a substantial shareholder in the multi-utility owner and operator after offloading 14.93 million shares.&nbsp;</p>


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


EVENING 5: Five things you need to know today

<p>Teck Guan Perdana Bhd (KL:TECGUAN) said its third quarter net profit fell 34.3% to RM2.39 million from RM3.64 million a year ago, on lower revenue and a net loss on forward currency contracts amounting to RM4.33 million.</p>


Teck Guan's 3Q net profit falls 34% on lower revenue, loss on forward currency contracts

<p>Kawan Renergy Bhd co-founder and managing director Lim Thou Lai has pared his stake in the ACE Market-listed engineering services firm to 67.03%.</p>


Kawan Renergy MD Lim Thou Lai trims stake to 67%

<p>Finnish authorities said they had boarded and taken control on Thursday of an oil tanker travelling from Russia, on suspicion it had caused the outage on Wednesday of an undersea power cable and three internet lines connecting Finland and Estonia.</p>


<p>The legal counsel for Segambut Member of Parliament Hannah Yeoh has filed an appeal in the Court of Appeal on Thursday challenging the High Court's decision to dismiss her defamation suit against former inspector general of police Tan Sri Musa Hassan.</p>


<p>Taghill Holdings Bhd (KL:TAGHILL), formerly known as Siab Holdings Bhd, said on Thursday that its wholly owned unit has received an adjudication claim from its subcontractor, seeking to recover an outstanding amount of RM2.59 million.</p>


Taghill unit faces adjudication claim from subcontractor

<p>The Taiping High Court has awarded RM1.8 million in damages to a former security guard who sustained a brain injury due to medical negligence during treatment following a motorcycle accident in 2016.</p>


<p>The Malaysian Anti-Corruption Commission (MACC) aims to focus on eradicating corruption in procurement, enforcement and grand corruption to help the country's economy, reduce leakages and return misappropriated national assets and money next year.</p>


MACC sets sights on 'grand corruption', to revamp structure in 2025 — Azam Baki

<p>The National Institute of Occupational Safety and Health (Niosh) recommends that regular maintenance be mandatory for all heavy vehicles with strict supervision by the Computerised Vehicle Inspection Centre (Puspakom) to ensure they are roadworthy.</p>


Strict enforcement, heavy fines against heavy vehicles failing to comply with safety standards, says Niosh

<p>The Malaysian Bar on Thursday urged the Terengganu state government and the federal government to reconsider public caning practices by reviewing and amending laws that permit such punishments to ensure they are proportionate, rehabilitative and respectful of human dignity.</p>


Terengganu state govt, Putrajaya urged to review practice of public caning 

<p>Keyfield International Bhd (KL:KEYFIELD) has issued its maiden RM200 million Islamic bonds (sukuk) under its sukuk wakalah programme of RM1 billion.</p>


<p>Türkiye’s central bank lowered interest rates for the first time in almost two years after consumer inflation showed signs of easing and said that future easing steps would depend on price data.</p>

<p>The bank’s Monetary Policy Committee, led by governor Fatih Karahan, on Thursday cut its one-week repo rate to 47.5% from 50%, after keeping it on hold for eight months in a row.</p>


Türkiye lowers main rate to 47.5% in first cut since 2023

<p>Wall Street's main indexes drifted lower in light trading volumes on Thursday, as rising yields pressured some shares, while investors looked for a year-end boost from the so-called Santa Claus rally.</p>
