<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 17): Hong Leong Investment Bank (HLIB) has maintained its “buy” rating on UMediC Group Bhd (UMC) at 62.5 sen with an unchanged target price (TP) of 91 sen and said UMC's expansion efforts post completion of its new facility aim to double manufacturing capacity to 600,000 units per month by Dec 2024.</p></div>

<div class=newsTextDataWrapInner><p>In a company update on Wednesday, the research house said it also sees potential for further expansion beyond this expansion initiative, considering the robust demand for own manufactured products.</p></div>

<div class=newsTextDataWrapInner><p>“Its pivot towards healthcare services, evidenced by UMC Care Centre, also underscores its diversification strategy.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Our TP represents a P/E multiple of 26.5x, tagged to its CY24f EPS of 3.4 sen,” it said.</p></div>

<div class=newsTextDataWrapInner><p>HLIB said it continues to like UMC, driven by its strong capacity expansion efforts.</p></div>

<div class=newsTextDataWrapInner><p>“The recent Main Market transfer approval is also expected to garner greater institutional interest and bolster share price upon completion.</p></div>

<div class=newsTextDataWrapInner><p>“We advocate investors eyeing long-term growth to accumulate on share price weakness,” it said.</p></div>


KUALA LUMPUR (April 17): Hong Leong Investment Bank (HLIB) has maintained its “buy” rating on UMediC Group Bhd (UMC) at 62.5 sen with an unchanged target price (TP) of 91 sen and said UMC's expansion efforts post completion of its new facility aim to double manufacturing capacity to 600,000 units...

HLIB advocates investors to accumulate UMediC on share price weakness

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.

Taghill unit faces adjudication claim from subcontractor

EVENING 5: Base electricity tariff for 2025-2027 to see 14% hike

The United Arab Emirates (UAE) will require companies to monitor and report their emissions in an effort to reach a target to become carbon neutral by 2050.

All companies with emissions equivalent to 500,000 tonnes or more of carbon dioxide per year are required to participate, according to legislation that comes into force on Dec 28.

UAE companies to start tracking and reporting carbon emissions

(Dec 26): Iraq, OPEC’s second-largest oil producer, is planning to cut the amount of gas it burns off unproductively to about 20% next year in an attempt to meet rising demand and reduce imports.

The country captured about 67% of the gas that is produced from oil fields at the end of 20...

Iraq plans to cut gas flaring to 20% next year to reduce imports

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.

Boustead Heavy Industries names ex-air force chief as chairman

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).

Base electricity tariff for 2025-2027 to be 14% higher, says TNB

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.

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

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.

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.

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

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.

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

China revised upwards on Thursday the size of its economy by 2.7%, but said the change would have little impact on growth this year, as policymakers pledged more stimulus to spur expansion in 2025.

China revises up 2023 GDP, sees little impact on 2024 growth

<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>


<p>Petronas Chemicals Group Bhd (KL:PCHEM) could be close to its turning point, and investors should take position in its stock ahead of a rebound in the industry, said Kenanga Investment Bank.</p>


Kenanga says Petronas Chemicals close to turning point, investors should take position ahead of rebound

<p>Shares of SNS Network Technology Bhd (KL:SNS) rose 17.5% in active trade on Thursday amid broader gains in the sector following the Christmas Eve rally of US technology stocks.</p>


SNS Network rises 17% in highly active trade

<p>THE government has given its blessing to Malaysian Resources Corp Bhd (KL:MRCB) for the redevelopment of Kuala Lumpur Sentral (KL Sentral) as it was the master developer of the transport hub connecting the Keretapi Tanah Melayu Bhd (KTMB) train service, Light Rail Transit, KLIA Transit and Rapid ...

Cover Story: Why MRCB was the choice for KL Sentral redevelopment

<p>Southern Cable Group Bhd (KL:SCGBHD) has bagged a contract worth RM172.57 million to supply cables and conductors.</p>


Southern Cable gets RM173m supply contract

<p>Malaysia’s automotive sector will have to contend with weaker sales of non-national cars&nbsp;amid intensifying competition, while the industry grapples with easing backlog orders, RHB Investment Bank flagged.</p>


Malaysia's auto sector to see intensifying competition among non-national brands, says RHB IB

<p>The Penang government is granting a 100% exemption from quit rent and parcel rent penalty arrears to all land and parcel owners in the state who make payments for the two taxes from Jan 2 to Feb 28, 2025.</p>


Penang grants exemption from land, parcel tax penalty arrears from Jan 2 to Feb 28

<p>SP Manufacturing, an electronics manufacturing services company founded and headquartered in Singapore, has announced its expansion into Senai, Johor.&nbsp;</p>


S'pore-based SP Manufacturing expands into Johor with new facility, acquisition of Ideal Jacobs Corporation

<p>Asia shares eased in holiday-thinned trade on Thursday, paring some of their gains from earlier in the week, while the dollar rose alongside US treasury yields.</p>


Dollar stays resilient, Asian shares wobble

<p>The Ministry of Energy Transition and Water Transformation (Petra) has announced that the Green Electricity Tariff (GET) programme will continue into 2025, maintaining current premium rates while introducing discounted long-term subscription packages to boost renewable energy adoption.</p>


Energy ministry: Current green electricity tariff rates retained, cheaper long-term packages introduced

<p>Honda Motor Co&nbsp;absorbing Nissan Motor Co could give the two struggling Japanese brands the scale they need to take on China’s BYD Co, sales figures released on Wednesday showed.</p>


Honda-Nissan deal may be key in fight against China’s BYD

<p>The South Korean won hit the weakest level since March 2009 in holiday-thinned trading amid the US dollar's continued rally. South Korean stocks fell, while the benchmark bond yield rose.</p>


South Korean won drops to lowest level since March 2009; stocks ease

<p>Alibaba Group Holding Ltd agreed to merge its South Korean operations with E-Mart Inc’s e-commerce platform to better compete in the country’s fast-paced online retail sector.</p>


Alibaba, E-Mart to create US$4 bil e-commerce JV in Korea

<p>Selangor remained the top destination for investments so far this year, as the state drew in RM66.8 billion in approved investments.</p>


Selangor top destination for investments, draws in RM66.8b in January to September

<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>


<p>Bursa Malaysia Bhd on Thursday issued a consultation paper seeking public feedback on the proposed amendments to the Rules of Bursa Malaysia Depository Sdn Bhd as it moves towards further digitisation in the issuance of securities account statements to depositors (CDS statements).</p>


Bursa Malaysia seeks feedback on depository rules for electronic CDS statements

<p>Tune Protect Group Bhd (KL:TUNEPRO), which mainly provides travel insurance, is expected to end 2024 with a small profit following a recent turnaround before a jump in 2025, said TA Securities.</p>


Tune Protect to end 2024 with small profit following 3Q turnaround — TA Securities

<p>Telegram and Tencent’s WeChat have begun the process of obtaining the requisite licence to operate their platforms in Malaysia next year, according to regulator Malaysian Communications and Multimedia Commission (MCMC).</p>


Telegram, WeChat begin licensing process in Malaysia, as MCMC urges others to follow suit

<p>Jinjiang Group, a contractor for Chinese electric vehicle (EV) maker BYD, said on Thursday Brazilian authorities' portrayal of their employees as "enslaved" was inconsistent with the facts and that there were translation misunderstandings.</p>


BYD contractor denies its construction site employees 'enslaved'

<p>Elon Musk’s deputy Steve Davis has spent more than 20 years helping the billionaire cut costs at businesses like SpaceX, the Boring Company and Twitter — making the engineer by training a natural choice for his new role at Musk’s Department of Government Efficiency, or DOGE for short.</p>
