Kenanga Research & Investment

Kenanga Today Highlights - 27 May 2024

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Publish date: Mon, 27 May 2024, 09:53 AM

NEWS HIGHLIGHTS

  • RCE Capital posts flat earnings for FY2024, sees higher financing demand in FY2025
  • Sports Toto's 3Q net profit almost tripled to RM68.5 mil on improved results from subsidiaries
  • Pecca says on track to achieve record full-year earnings after 3Q net profit climbs 64%
  • Favelle Favco to build two logistic warehouses in Australia
  • TRC Synergy bags RM142 mil subcontract to 'transform' state legislative building

MACRO BITS

  • Yellen says US isn’t ready to sign pending global tax agreement
  • China slammed in G-7 show of unity threatening trade escalation
  • April inflation steady at 1.8% YoY despite tourism surge and festive celebrations. (See Economic Viewpoint: Malaysia Consumer Price Index)
  • PM: Implementation date, mechanism for targeted diesel subsidy out soon
  • Fairer subsidies, no new taxes, says PM
  • PM's short visit to Japan strengthens trade and investment ties
  • Zafrul sees Malaysia-Japan trade rising this year
  • Ahmad Zahid urges streamlined approval for businesses, foreign investments, particularly from China
  • China talks security, business with U.S.-allied South Korea, Japan
  • Ueda hints Japan yields at 12-year high aren’t a major issue
  • Biden to end tariff exclusions on hundreds of chinese products
  • Fed’s Waller says he still thinks neutral rate is relatively low
  • ECB's Cipollone says recent data backs easing
  • ECB's Panetta says consensus growing on need for rate cut

IDEAS OF THE DAY

  • Results Note: BPPLAS, GASMSIA, MAYBANK, MKH, TCHONG
  • Company Update: GAMUDA, INARI, IOI, KGB, SCIENTX
  • Weekly Technical Review: DJIA, KLCI
  • Economic Viewpoint: MY CPI

Source: Kenanga Research - 27 May 2024

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