<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 14): Rakuten Trade has a “buy” rating on Kerjaya Prospek Group Bhd (KPG) at RM1.46, with a target price (TP) of RM1.79, and is positive on KPG’s outlook.</p></div>

<div class=newsTextDataWrapInner><p>In an note on Thursday, the research house said The Vue @ Monterez launched recently in the third quarter ended Sept 30, 2023 (3QFY2023), with a gross development value (GDV) of RM250 million, had recorded a take-up rate of approximately 50% as of November.</p></div>

<div class=newsTextDataWrapInner><p>Rakuten said that meanwhile, KPG is planning to launch Papyrus @ North Kiara, with a GDV of RM500 million, in 1QFY2024.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We maintain our FY2023 earnings forecast&nbsp;of RM139.2 million, while tweaking our FY24 earnings [estimate] upwards by 2% to reflect the timing of recognition, and introduce our FY25 net earnings forecast of RM181.1 million.</p></div>

<div class=newsTextDataWrapInner><p>“[We recommend] 'buy', with a TP of RM1.79, based on 13 times&nbsp;price-earnings ratio (five-year&nbsp;average) over FY2024 earnings per share, with potential upside of 22.5%,” the research house said.</p></div>

<div class="mt-4 embed-left"><a class="mobx embedimg-icon imgw-800" data-desc="" data-rel="ceolightbox" data-title="" href="//assets.theedgemarkets.com/pics/2023/20231214Kerjaya.png"><img alt="" src="https://assets.theedgemarkets.com/pics/2023/20231214Kerjaya.png" /></a></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
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<a href="http://theedgemalaysia.com/node/691123" target="_blank">Kerjaya Prospek Property posts steady 2Q profit, wants to increase Klang Valley land bank</a></em></p></div>


Rakuten Trade has a “buy” rating on Kerjaya Prospek Group Bhd (KPG) at RM1.46, with a target price (TP) of RM1.79, and is positive on KPG’s outlook.

Rakuten Trade positive on Kerjaya Prospek’s outlook, with target price of RM1.79

FGV Bhd (KL:FGV), which is currently embroiled in a lawsuit over an alleged breach of a palm kernel shell supply agreement, has been directed by the High Court of Kuala Lumpur to file its statement of defence by Dec 4, 2024.

FGV directed to file defence against company's suit by Dec 4

The number of Americans filing new applications for unemployment benefits fell to a seven-month low last week, suggesting that job growth likely rebounded in November after abruptly slowing last month amid hurricanes and strikes.

US weekly jobless claims hit seven-month low

NEW DELHI (Nov 21): Indian billionaire Gautam Adani, indicted in New York over a $265 million bribery scheme, is a first-generation tycoon whose phenomenal rise has been accompanied by a series of damaging controversies at home and abroad.

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Kenyan President William Ruto said on Thursday he had ordered the cancellation of a procurement process that had been expected to award control of the country's main airport to India's Adani Group after its founder was indicted in the US.

Kenya drops airport deal with Adani Group after US indictments

Theta Edge Bhd (KL:THETA) said it has partnered local data-science company iStream360 Sdn Bhd to develop “market transformative” artificial intelligence (AI), blockchain and advanced system solutions.

Theta Edge to form JV with iStream360 to develop AI, blockchain solutions

TOKYO (Nov 21): About 6% of Nissan Motor staff in the United States have accepted early retirement packages, a company spokesperson said on Thursday, as part of the struggling Japanese carmaker's plan to cut 9,000 jobs worldwide.

Nissan had about 17,000 employees in the U.S. as of ...

Nissan says about 1,000 US staff accept early retirement

Hap Seng Consolidated Bhd (KL:HAPSENG) posted a three-fold jump in net profit for its third quarter from a year ago, on improved contributions from the diversified group’s plantation, property and credit financing divisions.

Hap Seng 3Q net profit triples, declares 10 sen dividend

Can-One Bhd (KL:CANONE) saw its net loss widen to RM100.54 million in the third quarter ended Sept 30, 2024 (3QFY2024), from RM23.12 million in the previous corresponding quarter, dragged by unrealised foreign exchange loss of RM80.6 million.

Unrealised forex loss drags Can-One further into the red in 3Q

Oriental Holdings Bhd (KL:ORIENT) saw the diversified group’s net profit for the third quarter fall 70.12% year on year to RM88.87 million, from RM297.42 million on the absence of one-off gains recognised in the corresponding quarter in 2023.

Oriental 3Q net profit down 70% on absence of one-off gains

Malaysia's participation at the 29th Conference of the Parties to the UN Framework Convention on Climate Change (COP29) has significantly advanced its net-zero emissions goal, said Natural Resources and Environmental Sustainability minister Nik Nazmi Nik Ahmad.

COP29: Participation advances Malaysia's net-zero emissions goal — Nik Nazmi

<p>(Nov 21):&nbsp;Dyson Ltd&nbsp;is dialling back its hairdryer-related operations in Malaysia, according to people familiar with the matter who declined to be identified discussing matters that are private, as the consumer goods company seeks to streamline its business in the region.</p>


Dyson dials back Malaysian hairdryer ops, redeploys staff in Johor — Bloomberg

<p>Petronas Chemicals Group Bhd (KL:PCHEM) may be in for tougher days ahead following a massive paper loss that sent the company into the red for the first time ever and prompted analysts to cut their forecasts.</p>


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<p>IOI Properties Group Bhd (KL:IOIPG) has officially relaunched the Putrajaya Marriott Hotel in IOI Resort City last week after completing a RM100 million renovation.</p>

<p>Sitting on 6.5 acres of land, the five-star Putrajaya Marriott Hotel is managed by IOI Properties and comprises 487 guest rooms, including 35 exclusive suites. The renovations took place from Feb 2023 till Nov 2024 and were carried out in phases. The massive undertaking focused on the refitting and renewal of its guest rooms, lobby, restaurants and private villa.</p>


IOI Properties relaunches Putrajaya Marriott Hotel after RM100m renovation

<p>Sime Darby Property Bhd (KL:SIMEPROP) is working urgently with authorities to help resolve the recurring flood incidents in Bandar Bukit Raja, said managing director Datuk Seri Azmir Merican.</p>


Tackling floods in Bandar Bukit Raja a top priority, says Sime Darby Property

<p>KUALA LUMPUR (Nov 21): Mah Sing Group Bhd (KL:MAHSING) has unveiled the sales gallery of its RM850-million M Aspira serviced-apartment project in Taman Desa, Kuala Lumpur on Wednesday (Nov 20).&nbsp;</p>


Mah Sing unveils M Aspira sales gallery in Taman Desa

<p>Globetronics Technology Bhd (KL:GTRONIC) has inked an agreement valued at RM145 million to provide integrated circuit (IC) product packaging, testing and backend services to Taiwan-based ChipMOS Technologies Inc.</p>


Globetronics secures RM145 mil contract to provide assembly and test services to Taiwan’s ChipMOS

<p>Starbucks Corp is exploring options for its Chinese operations including the possibility of selling a stake in the business, according to people with knowledge of the matter.</p>


Starbucks said to consider selling stake in Chinese business

<p>China's Huawei plans to start mass-producing its most advanced artificial intelligence chip in the first quarter of 2025, even as it struggles to make enough chips due to US restrictions, said two people familiar with the matter.</p>


Huawei aims to mass-produce newest AI chip in early 2025, despite US curbs

<p>Sime Darby Property Bhd (KL:SIMEPROP) on Thursday said that the company is seeking more assets that would generate recurring income for the real estate developer.</p>


Sime Darby Property seeks more assets generating recurring income

<p>The extended six-year contract signed between the government and Bestinet Sdn Bhd for the Foreign Worker Centralised Management System (FWCMS) could cost the government a minimum of RM3.2 billion, according to a report by the Public Accounts Committee (PAC).</p>


Bestinet's contract extension for foreign worker system could cost govt at least RM3.2b — PAC

<p>Shares of Adani Group companies lost about US$28 billion (RM125.3 billion) in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.</p>


India's Adani Group sees US$30b in value wiped off after US indictments 

<p>Northern Solar Holdings Bhd has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.</p>

<p>The solar energy firm said its IPO scheduled to take place in February 2025, entails a public issue of 67.3 million new shares and the sale of 35.6 million existing shares.</p>

<p>All in all, the listing would offer investors up to a 26% stake in the company.</p>


Northern Solar Holdings signs underwriting agreement with M&A Securities

<p>EIGHTEEN months after its decision to abandon the single wholesale network (SWN) structure and transition to a dual 5G network, Malaysia sprang yet another surprise by selecting U Mobile Sdn Bhd, the third and smallest of the three bidders that qualified, for the coveted second 5G spectrum bid on...

Cover Story: Untangling the second 5G network puzzler 

<p>KUALA LUMPUR (Nov 21): E-services provider MyEG Services Bhd’s (KL:MYEG) earnings are expected to continue to be boosted by contributions from its Zetrix-related applications, prompting an earnings upgrade from at least one analyst.&nbsp;</p>


Zetrix-related services to continue to boost MyEG’s earnings — analysts

<p>China has found gold reserves worth 600 billion yuan (US$82.9 billion or RM370.9 billion) in central Hunan province, state outlet <i>Xinhua</i> news said on Thursday.</p>


China finds US$83b worth of gold reserves in Hunan 

<p>Prime Minister Datuk Seri Anwar Ibrahim said on Thursday that about 70% to 80% of the costs of his official trips to five countries over the past two weeks were paid by private companies.</p>


Private firms paid up to 80% of costs for recent official trips abroad, Anwar tells Dewan Rakyat

<p>KUALA LUMPUR (Nov 21): Analysts have raised their earnings forecasts and target prices on Hap Seng Plantations Holdings Bhd (KL:HSPLANT), after the plantation group outperformed market expectations in its latest quarterly results.</p>


Analysts raise forecasts after Hap Seng Plantations’ quarterly results beat expectations

<p>THE award of the second 5G network to U Mobile on Nov 1 has kicked up a storm. Four bids were submitted, from CelcomDigi, Maxis, U Mobile and TM. Maxis, for instance, once widely seen as the frontrunner, is seeking to talk to the Malaysian Communications and Multimedia Commission (MCMC) on what e...

Cover Story: Will the second 5G network benefit Malaysians with lower prices and better service?

<p>The High Court here has ordered the Royal Malaysian Police (PDRM) to complete investigations on the death of Teoh Beng Hock within six months from Thursday.</p>


Police given six months to complete probe into Beng Hock’s death

<p>In his first global meetings since Donald Trump was reelected to lead the US, Chinese President Xi Jinping went on a diplomatic offensive, hedging against expected new tariffs and preparing to exploit potential future rifts between Washington and its allies.</p>
