CHAN SIFU

Infoline Tec to be transferred to Main Market


KUALA LUMPUR: The shares of Infoline Tec Group Bhd will be transferred from the ACE Market to the Main Market of Bursa Malaysia at 9am on Friday, Nov 22, 2024.

In a statement, the stock exchange said the stock will be listed in the technology sector.

The stock short name, Infotec, and stock number, 0253, of the company will remain unchanged.

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Trump's economic policies can add RM19.7bln to Malaysia's GDP - Juwai IQI


KUALA LUMPUR: Donald Trump's upcoming economic policies are expected to significantly impact Malaysia's economy, with projections indicating that they could contribute RM19.7 billion to the country's gross domestic product (GDP).

Juwai IQI co-founder and group chief executive officer Kashif Ansari opined that Trump's direction and goals are clear.

"We also have the record of the first Trump presidency as precedent, and we can deduct from the team he has selected for his cabinet.

"One key policy Trump is expected to enact is the extension and intensification of tariffs on Chinese goods," he said in a statement today.

Kashif said this would result in Chinese and international firms going even further than they have over the last eight years to shift manufacturing out of China and into Southeast Asia.

He said this policy alone could contribute an additional one percentage point to Malaysia's GDP over four years.

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Kossan Rubber rises to near four-month high after surprise special dividend


KUALA LUMPUR (Nov 18): Shares of Kossan Rubber Industries Bhd (KL:KOSSAN) rose on Monday to their highest in nearly four months, after the glovemaker unexpectedly declared a special dividend despite below-view results.

Kossan rose as much as seven sen or 3.1% to RM2.35, its highest since July 30. The stock was trading at RM2.34 at 9.05am, giving the company a market capitalisation of RM6 billion. Trading volume totalled more than 1.5 million shares so far.

The company plans to distribute eight sen per share, including a six-sen special dividend. “While a special dividend was not guided, we were not surprised and see this as once-off” ahead of the a 2% dividend tax that will come into force next year, said Kenanga Investment Bank (Kenanga IB) said in a note.

Moving forward, analysts see potential for stronger earnings for Kossan in the coming quarters, pointing to ongoing inventory replenishment and a potential shift in US demand for Malaysian gloves due to the impending tariff increase on Chinese glove imports.

January-September core net profit only accounted for about 60% of consensus full-year forecast, though “going forward, we expect Kossan to deliver sequentially stronger earnings,” said Hong Leong Investment Bank (HLIB) in a note, and maintained its “buy” rating.

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