<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 27): RHB Retail Research said Tomei Consolidated Bhd is poised for a technical breakout after inching higher above the 21-day simple moving average line <span jsslot=""><span>—</span></span> heading towards the RM1.30 mark.</p></div>

<div class=newsTextDataWrapInner><p>In a trading stocks note on Tuesday, the research house said that if a breakout above that level occurs to form a fresh “higher high” bullish structure, the counter may climb towards RM1.40, then RM1.49.</p></div>

<div class=newsTextDataWrapInner><p>"Conversely, breaching below the RM1.23 support will kick off a downtrend," it said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

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RHB Retail Research said Tomei Consolidated Bhd is poised for a technical breakout after inching higher above the 21-day simple moving average line — heading towards the RM1.30 mark.

Tomei poised for technical breakout, says RHB Retail Research 

Feytech Holdings Bhd (KL:FEYTECH), an automotive seat manufacturer listed just last Tuesday (May 21), proposed to acquire a plot of land measuring 9.76 acres for RM19.98 million from DRB-Hicom Bhd (KL:DRBHCOM)’s unit Proton City Development Corp Sdn Bhd (PCDC).

Newly listed Feytech buys RM20 mil industrial land from DRB-Hicom’s Proton City

I-Bhd's (KL:IBHD) first quarter net profit rose sixfold to RM4.07 million from RM675,000 a year earlier, which the group attributed to its "strong financial management and strategic foresight".

I-Bhd's 1Q net profit sharply higher, to focus on property development at i-City

Hedge fund billionaire Bill Ackman is planning an initial public offering for his investment firm Pershing Square Capital Management as soon as next year, the Wall Street Journal reported on Friday, citing people familiar with the matter.

Billionaire investor Ackman is planning IPO of Pershing Square — report

Prime Minister Datuk Seri Anwar Ibrahim has directed all relevant enforcement agencies to ramp up operations against the abuse and theft of diesel across Malaysia, including in Labuan.

Anwar wants intensified crackdown on diesel theft nationwide

Yemen's Houthis launched a missile attack on the US aircraft carrier Eisenhower in the Red Sea in response to US and British strikes on Yemen, Houthi military spokesperson Yahya Saree said on Friday.

Yemen's Houthis say they launched missile attack on US aircraft carrier Eisenhower in Red Sea

Sime Darby Plantation Bhd (KL:SIMEPLT) sees crude palm oil prices (CPO) averaging above RM4,000 per tonne in 2024 as severe drought limits supply from Indonesia, the world largest palm producing nation.

CPO to average above RM4,000 per tonne in 2024 as prolonged drought curbs Indonesian output — Sime Darby Plantation

TikTok has put on hold plans to launch its fast-growing e-commerce business across major European markets, focusing instead on growth in the US where it’s fighting a divest-or-ban law.

TikTok pauses e-commerce push into Europe to focus on US, Bloomberg reports

CIMB Group Holdings Bhd (KL:CIMB), Malaysia’s second-largest banking group by assets, said on Friday its net profit rose 18% in the first quarter from a year earlier as both interest and non-interest income grew faster than costs and provisions.

CIMB Group 1Q net profit rises 18% as income growth outpaces provisions, costs

Genting Malaysia Bhd (KL:GENM), which operates the Genting Highlands resorts, said on Friday it has issued debt papers totalling RM1.3 billion under two programmes.

Genting Malaysia raises RM1.3b from medium-term notes issuances

Two former directors of MMAG Holdings Bhd’s (KL:MMAG) 95%-owned air cargo logistics unit, M Jets International Sdn Bhd (MJets), have been charged with dishonest misappropriation of property.

Former directors of MMAG’s air cargo unit charged with dishonest misappropriation of property 

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>A managing director of a real estate company, who was remanded by the Malaysian Anti-Corruption Commission (MACC) on Tuesday, was released from remand on Thursday.</p>


Managing director of real estate firm released from remand

<p>The government will implement a floating diesel price mechanism, alongside targeted diesel subsidies, to curb fuel subsidy leakages, which have become increasingly prevalent.</p>


Malaysia to float diesel prices alongside targeted subsidies to curb leakages, says Amir Hamzah

<p>UEM Sunrise Bhd (KL:UEMS) has partnered with Logos Infrastructure Holdco Pte Ltd to explore the opportunity to develop a data centre campus in Gerbang Nusajaya, Johor.</p>


UEM Sunrise and Logos sign MOU to develop data centre campus in Johor

<p>Shares in Oppstar Bhd (KL:OPPSTAR) fell on Friday,&nbsp;after the chip design house reported a weaker-than-expected fourth quarter, though Kenanga Investment Bank shrugged off the results.</p>


Oppstar shares tumble after weaker-than-expected 4Q

<p>Major tech firms, including Meta,&nbsp;Microsoft, Advanced Micro Devices (AMD)&nbsp;and Broadcom, said on Thursday they had developed a new industry standard for networking in artificial intelligence (AI)&nbsp;data centres, the latest effort to break the dominance of market leader Nvidia.</p>


Big Tech develops AI networking standard without chip leader Nvidia

<p>Tenaga Nasional Bhd (KL:TENAGA), the sole electricity transmission network operator in Peninsular Malaysia, may employ the imbalance cost pass-through (ICPT) mechanism to shield its earnings and cash flow stability&nbsp;against&nbsp;fuel and generation cost fluctuations, said S&amp;P Global Ratings.&nbsp;</p>


TNB to safeguard earnings and cash flows using ICPT mechanism, says S&P Global Ratings

<p>Shares in Malaysian Resources Corp Bhd (KL:MRCB) fell on Friday, and nearly wiped out their gains this month, as the latest weaker-than-expected quarterly results prompted caution among investors and analysts.</p>


MRCB shares fall as below-view 1Q prompts caution

<p>Sime Darby Plantation Bhd (KL:SIMEPLT), or SDP, the world’s largest palm oil producer by acreage, said on Friday its first quarter net profit tripled from a year earlier, thanks to lower tax and strong downstream operations.</p>


Sime Darby Plantation's 1Q net profit triples on lower tax, strong downstream ops

<p>The ringgit has raced ahead of all its Asian peers in the past three months and if market watchers are right, the move is set to gain traction.</p>


Ringgit overcomes this year’s slow start as inflows gather pace

<p>Shares in Press Metal Aluminium Holdings Bhd (KL:PMETAL) rose on Friday to their highest in two years, after the company’s first-quarter results beat analysts' and consensus&nbsp;estimates.&nbsp;</p>


Press Metal climbs to two-year high after 1Q beat

<p>Petroliam Nasional Bhd (Petronas) posted a 10.5% drop in first quarter net profit from a year earlier while flagging a prolonged volatile pricing landscape.</p>


Petronas 1Q profit drops 11% amid volatile pricing landscape

<p>Public Bank’s wholly-owned subsidiary Public Mutual has declared distributions of more than RM56 million for three funds as at May 31, 2024.</p>


Public Mutual declares distributions of over RM56m for three funds

<p>Shares in Datasonic Group Bhd (KL:DSONIC) hit a two-week low on Friday, despite the company reporting its best-ever quarterly and annual earnings due to higher demand for passports, identity cards, and financial card personalisation services.&nbsp;</p>


Datasonic shares hit two-week low despite record earnings

<p>Before he was arrested this month for allegedly running what’s likely the world’s largest cybercrime computer network, Wang YunHe enjoyed a lavish lifestyle in Singapore.</p>


Singapore wealth flows face renewed scrutiny in superhacker case

<p>theedgemalaysia.com highlighted two stocks with positive momentum and seven stocks with negative momentum at Bursa Malaysia's afternoon close on Friday. &nbsp;</p>


Hup Seng, PTT Synergy, Notion VTec, Panasonic, JCY, HCK, Kerjaya Prospek, Mah Sing, LB Aluminium

<p>Saudi Arabia has confirmed plans to sell shares in its giant oil company, in a deal that could raise as much as 44.8 billion Saudi riyals (US$12 billion or RM56.49 billion) for the kingdom, as it seeks funds to pay for a massive economic transformation plan.</p>


Saudi Arabia confirms plans for Aramco stake sale, seeks up to US$12b

<p>Diversified conglomerate PPB Group Bhd (KL:PPB) saw its share price decline to the lowest level in nearly four months on Friday, against the backdrop of weaker quarterly results due to lower contributions from Wilmar International Ltd and soft sales from Golden Screen Cinema (GSC).</p>


PPB’s share price hits near four-month low on weak 1Q results

<p>Starting in the 1980s, European automakers steadily conquered China, racking up millions in sales with little local competition.</p>


How China's EV makers aim to beat Tesla, legacy automakers in Europe

<p>China has agreed to extend the visa exemption period for Malaysian tourists from 15 to 30 days, according to Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.</p>

<p>Zahid, who is also the rural and regional development minister, announced this during the celebration of the 50th anniversary of the establishment of diplomatic relations between Malaysia and China, here, on Friday.</p>
