<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 15): Kenanga Research has maintained its “outperform” rating on YTL Power International Bhd at RM1.57 with a higher target price (TP) of RM1.85 (from RM1.48) and said it expects YTL Power to report another strong set of quarterly results in the fourth quarter of the financial year 2023 (4QFY2023) with net profit rising 10%-12% quarter-on-quarter (q-o-q).</p></div>

<div class="mt-4 embed-right"><a class="mobx embedimg-icon imgw-300" data-desc="" data-rel="ceolightbox" data-title="" href="//assets.theedgemarkets.com/pics/2023/surin-ytl-story-15082023.png"><img alt="" src="//assets.theedgemarkets.com/pics/2023/surin-ytl-story-15082023.png" /></a></div>

<div class=newsTextDataWrapInner><p>In a note on Tuesday (Aug 15), the research house said this will be driven by a 43% hike in Singapore power retail price in the second quarter of calendar year 2023 (2QCY2023) and an average 9% tariff hike for Wessex Water from April 2023.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Kenanga said it expects YTL Power’s 4QFY2023 net profit to rise 10%-12% q-o-q to RM585 million-RM590 million on a higher pre-tax profit of RM830 million for the power generation unit with Wessex Water turning profitable at circa RM140 million.</p></div>

<div class=newsTextDataWrapInner><p>“This leads us to upgrade our FY2023 forecast by 26% to RM1.54 billion from RM1.23 billion.</p></div>

<div class=newsTextDataWrapInner><p>“We raise our profit forecasts by 26% for FY2023 and by 34% for FY2024, lift our TP by 25% to RM1.85 (from RM1.48) and maintain our 'outperform' call,” it said.</p></div>


Kenanga Research has maintained its “outperform” rating on YTL Power International Bhd at RM1.57 with a higher target price (TP) of RM1.85 (from RM1.48) and said it expects YTL Power to report another strong set of quarterly results in the fourth quarter of the financial year 2023 (4QFY2023) with net profit rising 10%-12% quarter-on-quarter (q-o-q).

Kenanga expects YTL Power to report strong 4QFY2023 results

Google is betting Microsoft Corp’s very public cybersecurity failures — along with deep discounts — will persuade corporate and government customers to use the search giant’s productivity software rather than Office.

Google attacking Microsoft's cyber failures in effort to steal customers, Bloomberg reports

Putrajaya is expected to roll out the multi-tier levy mechanism (MTLM) for foreign workers in January next year, according to Human Resources Minister Steven Sim Chee Keong.

Multi-tier levy on foreign workers to be implemented in January 2025, says HR minister

Volkswagen AG’s (VW) Audi and China’s SAIC Motor Corp will work together on a new vehicle platform as well as three new pure electric models as the German automaker steps up its electrification push in the world’s most competitive automotive market.

VW’s Audi, SAIC deepen ties for electric car line-up in China

The Bank of England (BOE) will be able to cut interest rates “some time over the summer” if second-round inflation pressures drop away as expected, deputy governor Ben Broadbent said.

BOE’s Broadbent says UK interest rates may drop this summer

Palm oil player TSH Resources Bhd (KL:TSH) reported a 13% year-on-year increase in its first quarter core profit before tax (PBT) to RM34.8 million from RM30.8 million, amid lower fertiliser prices and reduced losses from joint ventures.

TSH Resources reports 13% rise in core 1Q PBT to RM34.8m

The damages or defects in the surgery complex at the Sultan Idris Shah Hospital (HSIS) Heart Centre in Serdang will undergo repairs by next month.

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WikiLeaks founder Julian Assange's lawyers told London's High Court on Monday that he should not be extradited to the US over the mass leak of secret US documents as he may not be able to rely on his right to free speech.

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<p>Iran's President Ebrahim Raisi was killed in a helicopter crash, an Iranian official and <i>Mehr</i> news agency reported on Monday. Below is a brief outline of what Iran's constitution says happens when a president is incapacitated or dies in office:</p>


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<p>Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest banking group by assets, said on Monday its net profit slipped 3.5% for the first quarter ended March 31, 2024 (1QFY2024) from a year earlier, mainly due to higher personnel costs and higher provisions.</p>


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<p>The High Court has ordered former Mara Corp chief executive officer (CEO) Datuk Badlisyah Abdul Ghani to pay the firm RM3.4 million after finding him guilty for breach of duty during his three-month term with the company, which is the investment and commercial arm of Majlis Amanah Rakyat.</p>


Former Mara Corp CEO ordered to pay RM3.4m to company for breach of duty

<p>AS more investments continue to pour into the data centre (DC) industry, companies are looking to tap opportunities in either the DC construction, fit-out or testing and commissioning segments.</p>

<p>Notably, the artificial intelligence (AI) boom has spurred demand for digital infrastructure,...

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<p>The time it’s taking for some of China’s electric-car makers to pay suppliers is ballooning — a further sign of stress in the nation’s increasingly cutthroat auto market.</p>


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<p>Bursa Malaysia said on Monday it is introducing Trading Reminders, a new tool that highlights unusual trading activity in addition to queries issued over spikes in prices and volumes.</p>


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<p>Electronics manufacturing services firm Notion VTec Bhd (KL:NOTION) charted a new three-year high on Monday, as Bursa Malaysia’s Technology Index touched a new one-year high following the US’ plan to hike tariffs on semiconductors from China.</p>


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<p>Shares in gold-related counters surged on Monday, following the precious metal notching a fresh all-time high, as investor demand soared across the broader metals complex, amid increasing optimism the US will cut interest rates this year.</p>


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<p>RHB Investment Bank Research has maintained its 'buy'&nbsp;rating for&nbsp;Gamuda Bhd (KL:GAMUDA) at RM5.58, with a higher target price of RM6.55 (from RM6.30), and said it is upbeat on the prospects Ho Chi Minh City (HCMC) has for Gamuda’s property arm.</p>


RHB IB upbeat on Gamuda’s prospects in Ho Chi Minh City, raises target price to RM6.55

<p>A senior banker from Maybank Investment Bank Bhd, Kevin Davies, is said to be moving to smaller-sized rival RHB Investment Bank Bhd to take on the CEO role, according to at least three industry sources.</p>

<p>“The move is subject to regulatory approvals,” one of the sources tells The Edge.</p...

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<p>Gold prices hit an all-time high on Monday, as a slowing US inflation trend boosted expectations the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak.</p>

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<p>Maxis Bhd’s (KL:MAXIS) intention to build a second fifth-generation (5G) network could potentially put the group’s financial position and future earnings under pressure, according to analysts.</p>


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<p>theedgemalaysia.com&nbsp;<wbr />highlighted one stock with positive momentum and 16 stocks with negative momentum at Bursa Malaysia's afternoon close on Monday. &nbsp;</p>


Cahya Mata Sarawak, Willowglen, Oceancash, Excel Force, Manulife, MBSB, MFM, Panasonic, ELK-Desa, Puncak Niaga, BIG Industries, Astral Asia, Niche Capital Emas, Hextar Retail, Arka, AHB, Dataprep

<p>Foreign buying of Malaysian equities was sustained for the fourth consecutive week with a total of RM873.9 million last week, leading to a year-to-date net inflow of RM4.9 million.</p>

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<p>Bumiputera-mandated agencies under the Ministry of Economy will move away from giving out ‘free money’ or grants, to focus on providing financial leverage and assistance for business expansion, its minister Rafizi Ramli said on Monday.</p>


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<p>Malaysia is expected to see a "potential upswing" in external demand, particularly from China, while also benefitting from the imposition of US tariffs on Chinese goods, including electric vehicles (EVs) and their components, said TA Securities.</p>


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<p>KUALA LUMPUR (May 20): Phillip Capital has maintained its “buy” rating on Kerjaya Prospek Group Bhd at RM1.80 with a higher target price (TP) of RM2 (from RM1.93) and said it expects Kerjaya’s 1Q2024 net profit to come in stronger year-on-year, but flat quarter-on-quarter.</p>

<p>In a note on ...

Phillip Capital raises target price for Kerjaya Prospek to RM2, sees stronger y-o-y net profit growth in 1Q2024

<p>Taiwan President Lai Ching-te asked China on Monday to stop its military and political threats, saying in his inauguration speech that peace is the only choice and that Beijing had to respect the choice of the Taiwanese people.</p>

<p>Lai, addressing the crowd outside the Japanese-colonial-era presidential office in central Taipei, repeated a call for talks with China, which views the proudly democratic island as its own territory and has never renounced the use of force to bring it under Beijing's control.</p>


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<p>Malaysia Airports Holdings Bhd’s (KL:AIRPORT) traffic expanded by 7.6% to 11 million passengers in April 2024, compared with the preceding month's 10.2 million passengers.</p>


MAHB's passenger traffic hit 11 million in April, 7.6% higher month-on-month

<p>Malaysia’s exports rebounded at a slower-than-expected 9.1% in April from a year earlier, as a surge in shipments of machineries, chemicals and palm oil offset a decline in deliveries of petroleum products and subdued electronics demand, official data Monday showed.</p>
