<div class=newsTextDataWrapInner>KUALA LUMPUR (Jan 13): Hong Leong IB Research has maintained its “Underweight” rating on the automotive sector and said it expects 2016 total industry volume to be flat at 665,000 units, driven mainly by national marques Perodua and Proton, from their expected new launches during the year.</div>

<div class=newsTextDataWrapInner>In a note today, the research house said demand for cars likely to remain lackluster in 2016 due to deteriorated consumer sentiment as well as continued tight banks’ lending practices, but supported by aggressive sales and marketing campaigns and new launches.</div>

<div class=newsTextDataWrapInner>“Weakened ringgit against other major currencies had increased OEMs’ input costs structures in 2016. Several OEMs have decided to raise their car prices by Jan 2016 to protect their margins, but will likely be offset by the aggressive sales and marketing campaigns.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>“Maintained Underweight on Automotive sector with Top Picks on DRB-Hicom Bhd (TP: RM1.45) and MBM Resources Bhd (TP: RM3.00),” it said.</div>

KUALA LUMPUR (Jan 13): Hong Leong IB Research has maintained its “Underweight” rating on the automotive sector and said it expects 2016 total industry volume to be flat at 665,000 units, driven mainly by national marques Perodua and Proton, from their expected new launches during the year.

...

HLIB Research expects automotive TIV to be flat at 665,000 units this year 

BENGALURU (April 24): South Korea's economy likely grew 0.6% last quarter, maintaining the same pace of expansion as in the previous three months, as improving exports offset weakening household consumption, a Reuters poll of economists found.

The trade-dependent economy experienced a n...

South Korea's economy likely saw steady economic growth in Q1

The son of a menteri besar is among six individuals remanded by the Malaysian Anti-Corruption Commission (MACC) here to assist in investigations regarding a case of submitting false documents and claims involving RM600,000 over the past two years.

MB's son among six remanded over document forgery, false claims involving RM600,000

Digital Minister Gobind to announce 5G development, appointment of DNB board members on Thursday, says Fahmi

TOKYO/SINGAPORE (April 24): Oil prices extended gains on Wednesday after industry data showed a surprise drop in US crude stocks last week, a positive sign for demand, though markets were also keeping a close eye on hostilities in the Middle East.

Oil prices climb amid US stocks decline, Middle East conflict

Indonesia’s central bank will likely postpone monetary easing to later this year, if not early 2025, as it waits out uncertainty around the Federal Reserve’s (Fed) rate path and the continued fighting in the Middle East.

Rupiah slump may keep Indonesia rate cuts at bay until 2025

HONG KONG (April 24): Hong Kong's bourse operator reported a 13% drop in first-quarter profit on Wednesday, as sluggish trading and muted listing activities weighed on its businesses.

Hong Kong bourse operator's 1Q profit drops on weaker listings, trading

Silchester International Investors, a London-based firm that has advocated for corporate change in Japan, disclosed it has taken a stake in Nikon Corp, pushing the shares up by the most in more than a decade.

Nikon highest in 11 years on London’s Silchester taking 5% stake

Mobvoi Inc, a Chinese artificial intelligence (AI) developer backed by Alphabet Inc’s Google, dropped as much as 22% in its first day of trading in Hong Kong, marking the third stock debut to flop in the city this week.

Google-backed AI firm Mobvoi is Hong Kong’s third stock debut flop this week

THE overriding narrative from Wall Street to the Silicon Valley recently has been about the winners and laggards in the new generative artificial intelligence, or AI, world. Lumped among “winners” were firms such as software supremo Microsoft Corp and its partner OpenAI, the creator of AI chatbot...

Tech: Can Google get its mojo back?

KUALA LUMPUR (April 24): Dataprep Holdings Bhd said on Wednesday that Tan Sri Muhammad Ikmal Opat Abdullah has ceased to be the substantial shareholder in the IT products and services company.

Muhammad Ikmal of Widad ceases to be Dataprep’s substantial shareholder as shares sale continues

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 24)

Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.

The IPO, priced at 24 sen apiece, involves a public issuance of 102 million new shares as well as an offer for sale of 33 million existing shares, according to its prospectus. All in, the listing offers investors a 30% stake in the Johor-based wholesalers and vegetables distributor.

Farm Price starts taking orders for ACE Market IPO to raise up to RM24.48 mil

With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?

What’s next for 5G deployment in Malaysia?

Analysts predict a decline in earnings for Malaysian automotive companies in 2024, attributed to lower sales volumes and higher operating costs, coupled with the emergence of several Chinese original equipment manufacturers (OEMs) offering attractive pricing.

M'sian automakers expected to feel pinch from lower sales, higher costs, rise of Chinese OEMs

E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.

MyEG inks partnership to launch Hong Kong virtual assets

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.

AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.

NationGate may extend upward trajectory, says Rakuten Trade 

Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;

Telco shares lift Bursa higher at midday

Capital A Bhd’s board of directors has decided to extend Tan Sri Tony Fernandes'&nbsp;tenure as the chief executive officer for another five years, and as a strategic adviser to the airlines business, which is poised to be merged into AirAsia X Bhd.

Fernandes to be CEO of Capital A for another five years

One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.

Malaysia to start using QR code at checkpoints with Singapore, report says

Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.

DXN climbs over one-month high, analysts see positive outlook

Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.

Asian shares jump on tech boost; fragile yen on intervention watch

Tesla Inc is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.

Tesla to accelerate launch of cheaper cars after sales miss

Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.

Haily shares near all-time high after securing RM109.5m housing job

Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.

Bursa opens higher, tracking overnight Wall Street

US stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.

Wall Street closes higher as investors digest earnings, megacap outlook

Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright lands solar supply deal after forming JV company with Doople

This was supposed to be the year that Vietnam reaped the benefits from one of its largest natural gas discoveries.

Xi’s armada is winning the battle for energy in South China Sea

Sunway Putra Hotel Kuala Lumpur marked the commencement of its lobby area refurbishment with a ground-breaking ceremony.

Sunway Putra Hotel KL commences refurbishment of its lobby

The Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.