<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 5): Rakuten Trade said Powerwell Holdings Bhd may extend its upward trajectory after breaking out from its one-week rectangular pattern with a second consecutive white candle on Thursday.</p></div>

<div class=newsTextDataWrapInner><p>In a technical view note on Friday, the research house said that as the stock is pulling further away from all the exponential moving averages (EMAs), coupled with its relative strength index indicator pointing upwards, signalling a continuation of the ongoing uptrend.</p></div>

<div class=newsTextDataWrapInner><p>Rakuten said it expects the rising momentum is set to steer the stock higher and test the next level of resistance of 47.5 sen (R1) and 50 sen (R2) in the near term.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“On the downside, stop-loss is set at 38 sen, below the 20-day EMA.</p></div>

<div class=newsTextDataWrapInner><p>"Fundamentally, we like Powerwell via its exposure in thriving sectors like data centers, renewable energy, semiconductors, infrastructure development and utility projects.</p></div>

<div class=newsTextDataWrapInner><p>“[Its] robust order book of RM67 million and a tender book of RM282 million (with success rate of 70%) position the company for sustained growth over the next one to two years.</p></div>

<div class=newsTextDataWrapInner><p>“Its proven track record in renewable energy infrastructure and involvement in projects like the solar power plant in Bangladesh and the RTS Link underscore its potential for continued success in these sectors,” it said.</p></div>


KUALA LUMPUR (April 5): Rakuten Trade said Powerwell Holdings Bhd may extend its upward trajectory after breaking out from its one-week rectangular pattern with a second consecutive white candle on Thursday.

In a technical view note on Friday, the research house said that as the stock i...

Powerwell may extend its upward trajectory, says Rakuten Trade 

Reddit was down for thousands of users on Thursday, according to outage tracking website Downdetector.com, a day after the social media company said it had fixed a software bug.

Downdetector, which tracks outages by collating status reports from several sources including users, showed more than 14,000 reports of outages.

Reddit down for thousands of users, Downdetector shows

The Inland Revenue Board (LHDN) will continue to enforce compliance through audits and investigations to detect any non-compliance among taxpayers in Malaysia.

LHDN deputy chief executive officer (Compliance) Datuk Hisham Rusli said that all actions are carried out in accordance with the laws set forth.

IRB committed to improving tax compliance via  audits, probes

The International Criminal Court (ICC) issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes in Gaza, adding to pressure on the country’s leadership over the conduct of its military campaign against Hamas.

ICC issues arrest warrant for Israel’s Netanyahu on Gaza ‘war crimes’

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

Petron, DRB-Hicom, Dayang Enterprise, AEON, 7-Eleven, MSM, Hap Seng Consolidated, SunCon, UEM Sunrise, Mega First, Oriental, Heitech Padu, Can-One, Atlan, Maxim, Thong Guan, Globetronics

Thailand is taking steps to attract more foreign investment to accelerate economic growth while preparing to adjust its policies to cope with potential changes to world trade under a Trump presidency, Prime Minister Paetongtarn Shinawatra said.

Thailand seeks foreign investment as PM plans for Trump era

Volkswagen AG faces a growing threat of widespread walkouts as executives and unionists dig in over how to restructure Europe’s biggest automaker.

Labour leaders are offering €1.5 billion (RM7.08 billion) in additional cost cuts — including foregoing some bonuses — to keep factories open, after management dangled the idea of closures.

VW lurches closer to walkouts after talks with union deadlocked

Baidu Inc recorded its biggest revenue drop in more than two years after China’s economic malaise undermined its push into generative AI.

Chinese AI pioneer Baidu posts biggest sales fall since 2022

Magnum Bhd (KL:MAGNUM) reported a slight dip in net profit in the July-Sept period as income tax and other expenses increased, but cushioned by better income generated by its gaming and investment holdings and other segments.

Magnum posts marginally lower net profit in 3Q, amid higher tax and other expenses, declares 1.5 sen dividend

UBS has seen weak European growth hit companies it lends to, CFO Todd Tuckner said on Thursday, with the bank facing a 2024 credit loss expense of some 150 million Swiss francs (US$170 million or RM757.72 million) in its personal and corporate banking business.

UBS flags 'sluggish' Europe growth as it takes US$170m credit hit

Emmanuel Macron’s ill-fated June gamble on snap elections has plunged French businesses into prolonged gloom, clouding the president’s seven-year effort to transform the country into a hub for investment.

French business’s election gloom casts long shadow over outlook

<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>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>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>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>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>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>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>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>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>Atlan Holdings Bhd's (KL:ATLAN) Singapore-listed subsidiary Duty Free International Ltd (DFIL), which plans to challenge the compulsory acquisition of two plots of land in Kedah by the Malaysian government, announced on Thursday that it had received RM69.6 million as compensation for the land.</p>

<p>The sum was received from the Home Affairs Ministry, which is force-buying the plot from DFIL's wholly-owned Cergasjaya Sdn Bhd and Cergasjaya Properties Sdn Bhd, on Monday (Nov 18).&nbsp; DFIL itself is 75.53% owned by Atlan.</p>


Home Affairs Ministry pays Atlan RM69.6 mil for compulsory purchase of its Kedah plot

<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>Sugar producer MSM Malaysia Holdings Bhd (KL:MSM) continued to record losses for the second consecutive quarter, after the group reported a RM49.75 million net loss for the third quarter ended Sept 30, 2024 (3QFY2024).</p>


MSM Malaysia continues to bleed for the second consecutive quarter

<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>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>


Bracing for Trump tariffs, China's Xi makes diplomatic push at global summits

<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>Oil company Petron Malaysia Refining &amp; Marketing Bhd (KL:PETRONM) suffered a 94.3% drop in its third-quarter net profit, on lower sales volume due to a correction in domestic fuel demand following the implementation of the retail diesel targeted subsidy in June this year.</p>


Petron Malaysia's 3Q net profit down 94% on lower sales volume, oil prices

<p>Thong Guan Industries Bhd (KL:TGUAN) has proposed a seven sen per share special dividend from proceeds of the sale of its food and beverage (F&amp;B) business to its largest shareholder Foremost Equals Sdn Bhd for RM60 million.</p>


Thong Guan proposes seven sen dividend from proceeds of sale of F&B business to major shareholder for RM60m

<p>AEON Co (M) Bhd (KL:AEON), a general merchandise store and supermarket chain operator, saw its net profit rise 35.4% to RM18.79 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM13.88 million a year earlier on higher revenue.</p>
