Genting Malaysia Bhd has become the new owner of superyacht Equanimity after the sale proceeds in excess of RM0.5 billion were credited into the specially opened 1Malaysia Development Bhd (1MDB) account, said Attorney-General Tan Sri Tommy Thomas.

Coronavirus lends a helping hand to glove stocks

Top Glove was one of the leading percentage gainers among FBM KLCI stocks yesterday, as a new virus outbreak led to anticipation of higher rubber glove demand. The company is the world’s largest glove maker, with a production capacity of 70.5 billion gloves per annum.

Power plant at 82% completion (from 70% in 1QFY19). EPC contract revenue and net profit, as expected, has started to slow down with the Group recognizing RM168.5m revenue and RM38.7m net profit in Q3FY19 as compared to RM226.4m revenue and RM54.3m net profit billed a quarter ago. Remaining works are expected to be completed by 2020. We understand that the power plant should be able to achieve commercial operation date by mid-2020. So far, total revenue of RM1.49bn has been recognized from the job since 2016.

BAT loses RM17b market cap in six years, about enough to buy both Carlsberg and Heineken

Kumpulan H & L High-Tech Berhad (KLSE:HIGHTEC) shareholders have seen the share price rise 28% over three years, well in excess of the market return (-4.8%, not including dividends). However, more recent returns haven’t been as impressive as that, with the stock returning just 4.8% in the last year , including dividends .

When Might Inix Technologies Holdings Berhad Run Out Of Money?
A company’s cash runway is calculated by dividing its cash hoard by its cash burn. When Inix Technologies Holdings Berhad last reported its balance sheet in July 2019, it had zero debt and cash worth RM486k. Importantly, its cash burn was RM2.9m over the trailing twelve months. That means it had a cash runway of around 2 months as of July 2019. To be frank we are alarmed by how short that cash runway is! You can see how its cash balance has changed over time in the image below.

Upon listing, Powerwell expects to boast a market capitalisation of RM145.46 million based on its enlarged issued share capital of 580.55 million shares.

Managing director Jason Tham said the IPO would help the company embark on its business strategies to increase competitiveness in the industry, market presence and marker share.

Powerwell Holdings Bhd plans to raise RM21.85 million proceeds from its initial public offering on Bursa Malaysia’s ACE Market involving 87.4 million new shares at 25 sen each.

The company will also offer 58.06 million of its existing shares for sale. The listing is tentatively scheduled on January 22.

Its core Patami grew 54.2% in tandem with a revenue growth of 23.2%, and better profitability was driven by better sales volumes, lower production costs and a weaker ringgit.

The better-than-expected earnings were due to higher-than-expected sales volumes. We raise our FY20/21 forecasts by 5.5%/2.5% respectively to account for better sales volumes. After our earnings adjustment, we upgrade our rating to “buy” (from “hold”), with a higher TP of 76 sen (from 74 sen previously), based on 10 times revised current year 2020 earnings per share of 7.6 sen. We continue to like Homeritz due to its healthy net cash per share of 28.9 sen and increased automation efforts.

Upgrade to buy with a higher target price (TP) of 76 sen: Homeritz Corp Bhd’s first quarter of financial year 2020 (1QFY20) core profit after tax and minority interests (Patami) of RM7.8 million (quarter-on-quarter: +54.2%); year-on-year: +82.3%) was above our expectations, accounting for 35.9% of our full-year earnings.

Below expectations. Apollo recorded 2QFY20 core net profit of MYR3.15m (-9.2% YoY, +5.6% QoQ), bringing 1HFY20 core net profit to MYR6.4m (-31% YoY). This is below our expectations, accounting for just 37% of our previous full-year forecast. The group’s topline was lower than expected, which we believe was affected by a challenging environment and intense competition. No dividend was declared.

Stay NEUTRAL with a new P/E-based MYR3.40 TP from MYR3.65, expected total return: -2.6%.

Trading Buy call with a Fair Value of RM1.10 (based on an implied yield of 6.5%). We like KIPREIT for its stable topline growth, improving occupancy and positive albeit low single-digit reversions. FY20 will see full-year contributions from acquisition of AEON Mall Kinta City. All in, FY20-21 RNI of RM37.9-38.2m imply attractive gross yields of 8.2- 8.3%, while we believe the stock remains undervalued, trading at steep 16% discount to its BV.

Trading Buy with a FV of RM1.10.

EKOVEST Bhd and Iskandar Waterfront City Bhd (IWCity) erased the gains reaped prior to the Bandar Malaysia project signing on Tuesday as profit-taking on the stocks prevailed.

Bumi Armada Bhd posted a net profit of RM153.37 million in the third quarter ended Sept 30, 2019 compared to a net loss of RM502.83 million a year earlier, driven mainly by its offshore marine services (OMS) segment.

In a bourse filing today, the offshore energy facilities and services provider said revenue for the quarter was lower at RM527.81 million versus RM588.05 million a year earlie

INARI Amertron Bhd saw some RM860 million wiped out from its market capitalisation yesterday, as investors dumped the stock on news that one of the semiconductor firm’s major customers, Broadcom Inc, is selling one of its wireless-chip units.

The counter plunged 14.4% or 27 sen to a three-month low of RM1.61 yesterday, giving the company a market capitalisation of RM237.19 million. 141 million shares were traded.

Bursa Malaysia suspended short selling of the stock under proprietary day trading (PDT) and intraday short selling (IDSS) during the afternoon trading session, as the last done price of the counter “dropped more than 15%” from the reference price.

Ajinomoto (Malaysia) Bhd (AMB) is planning to invest RM355 million to build a new plant, including its corporate office, on a plot of land located in Techpark@Enstek, Bandar Baru Enstek, Seremban, in Negeri Sembilan. The company just completed the acquisition of the freehold plot today for RM86.08 million.

hares in Carlsberg Brewery Malaysia Bhd rose 1.41% this morning after its 3QFY19 net profit grew 6.5% higher to RM69.18 million, from RM64.98 million last year, sustained by higher sales and the continued premiumisation in Malaysia and Singapore.

Well, once upon a time BAT used to be one of the investor's favourites on Bursa Malaysia especially with its consistent dividend yield. Back then BAT was representing one of the top 30 market cap stocks in FBMKLCI index. In fact, its stock price was the highest among FBMKLCI index components. Peaked at around RM 72 per share, BAT's share price has since fallen to multi-year low at around RM 15. Unfortunately, the fall in share price was mainly due to the huge decline in sales and profit throughout the years.

COMPANIES’ AGMs and EGMs, from the media perspective, usually are uneventful events. You never expect a rowdy and violent scuffle such as prevalent at Taiwan’s Legislative Yuan.

Local EGMs and AGMs are often attended by a small number of shareholders, usually retirees largely lurking for door gifts or a free meal or meeting old friends as a means to spend their free time. A handful of people will question the board members and vote for the resolutions put forward.

The big companies can draw in representatives from institutional investors who may have some questions for the board, but more often than not such enquiries are now attended to via conference calls and analysts briefings.

Toyo Ink Group Bhd is looking forward to achieve a better performance in its financial year ending March 31, 2019 (FY19) compared with FY18, given that the group has disposed of some of its businesses that were underperforming.

“Overall we have ceased certain unprofitable businesses,” Toyo Ink group managing director Song Kok Cheong told reporters after the group’s annual general meeting yesterday.

GETS Global Bhd is looking to sell 100 units of high specification buses to Gunung Capital Bhd which could amount to some RM50 million.

In a bourse filing today, GETS Global said it had on Sept 20 entered into a memorandum of understanding (MoU) with Gunung's wholly-owned subsidiary GPB Corp Sdn Bhd to discuss and negotiate terms of the agreement for the proposed sale.

"GPB is desirous to place an order of not less than 100 buses with GETS Global. The buses will be of high specification to be detailed out in the sale and purchase agreement (SPA) with a purchase price of not less than RM500,000 for each bus," it added.

Ire-Tex Corp Bhd has slipped into Practice Note 17 (PN 17) status after its external auditors Nexia SSY PLT expressed a disclaimer of opinion on the group's financial statements for the financial year ended June 30, 2019 (FY19), in its annual report issued on Oct 31.

Bursa Malaysia has approved Khee San Bhd's request for the suspension of the candy manufacturer's share trade from 9am to 5pm today pending the release of a material announcement, Khee San said in a statement on Bursa's website today.

The whopping RM315.38 million impairment on its investment in an Australia-listed associate, AVEO, widened Mulpha International Bhd's net loss substantially to RM299.32 million in the third quarter ended Sept 30, 2019 (3QFY19) from RM6.65 million in the previous corresponding quarter.

The hefty impairment offset the improved performance in the hospitality and property divisions, said the company in a filing with Bursa Malaysia.

XOX Bhd is looking to raise up to RM66.28 million from a proposed renounceable rights issue of irredeemable convertible preference shares (ICPS) with free detachable warrants (Warrants B).

In a filing with Bursa Malaysia, the company said it plans to undertake a rights issue of up to 2.65 billion new ICPS together with up to 662.81 million Warrants B on the basis of four ICPS with one free Warrant B for every two existing ordinary shares in XOX.

Property developer and resort operator Sentoria Group Bhd plans to give up ownership of part of a plot of land for its Langkawi Geopark Resort City project to bring in a strategic investor for the resort development.

Its 75%-owned unit Sentoria Langkawi Sdn Bhd is planning to sell the 35-acre leasehold plot for RM49.5 million to I Strada Sdn Bhd. Sentoria Langkawi has accepted a Letter of Intent (LoI) for the proposed disposal today.

london Biscuit Bhd, which is facing a winding-up petition, is writing off RM363.16 million of receivables in the fourth quarter ended Sept 30, 2019 (4QFY19).

On top of that, the company also booked in impairment of RM31.04 million on investment loss in 4QFY19, according to its filing with Bursa Malaysia.

The massive impairment of RM394.2 million for the quarter under review was indeed slightly more than the confectionery maker’s annual revenue of RM391.73 million for the financial year ended Sept 30, 2019 (FY19) compared with RM326.36 million in FY18.

EcoWorld International Tops Out Maiden Project In Australia

The corrugated paper packaging producer’s net profit jumped 171% to RM3.48 million in the second quarter ended June 30, 2019 (2QFY19), from RM1.28 million a year ago, as it records higher revenue following a surge in demand from existing customers.

Revenue grew 54.16% to RM50.56 million from RM32.8 million. The group has paid an interim dividend of two sen per share amounting to RM1.09 million for FY19.

TH Plantations Posts Oct FFB Production Of 94,890.64 Metric Tonnes

Greenyield Bhd, which is principally engaged in the manufacturing of agricultural and horticultural products, wants to diversify into rubber plantations, which it anticipates may contribute to at least a quarter of its net profit in the future.

Willowglen MSC Bhd’s net profit for the third quarter ended Sept 30, 2019 (3QFY19) expanded 30.6% year-on-year (y-o-y) to RM3.24 million from RM2.48 million previously, on the back of higher profit margins.

In a bourse filing, the group announced that earnings per share (EPS) also grew to 0.66 sen from 0.55 sen previously.

possibly on speculation the fiber optic cable manufacturer will be a beneficiary of Malaysia's planned National Fiberisation and Connectivity Plan (NFCP) to develop the country’s broadband infrastructure.

Petra Energy Bhd posted a net profit RM25.04 million in the third quarter ended Sept 30, 2019 compared to net loss RM26.97 million a year ago, on the back of higher revenue.

In a filing to the exchange today, Petra Energy said revenue for the quarter rose to RM219.01 million from RM119.74 million in the previous year.

Earnings per share was 7.8 sen compared to loss per share of 8.4 sen.

Petra Energy declared an interim dividend of 2 sen per share, payable on Feb 3, 2020.

- Fajarbaru Builder Group Bhd: * OCT FBG GROUP TIMBER PRODUCTION 12,547 CUBIC METRES

Eco World International Bhd (EWI) has topped out its first Australian project, the A$315 million (RM893 million) West Village project in Parramatta, Sydney, which marks a pivotal construction milestone for EWI.

Global Sustainable Palm Oil Market describes an in-depth evaluation and professional study on the present and future state of the Sustainable Palm Oil market across the globe, including valuable facts and figures. Sustainable Palm Oil Market provides information regarding the emerging opportunities in the Sustainable Palm Oil market & the market drivers, trends & upcoming technologies that will boost these growth trends

Mi Technovation Bhd — formerly known as Mi Equipment Holdings Bhd — is seeking to reduce its dependency on the semiconductor industry. This is because its semiconductor equipment business unit — Mi Equipment — is seasonal and affected by the cyclical nature of the industry.

Mi Technovation group chief executive officer Oh Kuang Eng said the group aims to be a player with multiple products across multiple industries by 2023.

He added that the group, based in Bayan Lepas, Penang, wants to smoothen out cyclicality through its newly incorporated subsidiaries, Mi Autobotics and Mi Components.

Pharmaniaga Bhd confirms today that it has secured a five-year extension for the provision of logistics and distribution services to the Ministry of Health, to end on Dec 31, 2024.

Two Seacera Group Bhd shareholders are seeking to block the appointment of six new directors at an extraordinary general meeting (EGM) scheduled for early next month.

Seacera told Bursa Malaysia that it received a notice from AEV Engineering & Trading Sdn Bhd and Fantastic Fortress Sdn Bhd, who claimed to hold at least 2.5% of the company’s paid up capital, seeking to invalidate the appointment of any new person to the board, apart from nine existing directors, at the EGM to be held on Dec 3.

DiGi collaborates with MDEC to boost 5G innovation among entrepreneurs

RHB Retail Research said Favelle Favco Bhd may climb higher after posting another white candle and hitting its new 52-week high.

In a trading stocks note today, the research house said with the 21-day SMA line edging upwards, this implies a bullish outlook.

Apex Healthcare Bhd is buying a freehold industrial plot in Melaka for RM20.42 million to cater for the future expansion of its off-patent pharmaceutical manufacturing unit, Xepa-Soul Pattionson (Malaysia) Sdn Bhd.

The land measures 18.75 acres and Apex Healthcare said its wholly-owned unit has inked a conditional sale and purchase agreement yesterday to effect the acquisition.

Prolexus Bhd shares jumped as much as 19.57% this morning after it reported an 89% year-on-year increase in net profit for its fourth quarter ended July 31, 2019 (4QFY19).

Genting Malaysia Bhd said today Empire Resorts Inc stockholders have approved the Genting Malaysia-Kien Huat Realty III Ltd (KH) joint proposal to acquire by merger the outstanding shares held by shareholders of Empire unaffiliated with KH at US$9.74 each.

theedgemarkets.com highlighted 5 stocks with momentum at Bursa Malaysia’s afternoon close today. All stocks had negative momentum.

Stocks with negative momentum were:

JHM Consolidation Bhd - up three sen to RM1.40