The FBM KLCI edged up in early trade this morning, as regional markets steadied.

At 9.05am, the FBM KLCI rose 1.38 points to 1,773.08.

The early gainers included JHM Consolidation Bhd, Hap Seng Consolidated Bhd, Tenaga Nasional Bhd, Willowglen MSC Bhd, Malaysian Pacific Industries Bhd, Kuala Lumpur Kepong Bhd, Ajinomoto (M) Bhd, Bertam Alliance Bhd, MISC Bhd and Pentamaster Corporation Bhd.

Asian stocks steadied early on Monday, taking cues from Wall Street shares hovering around record highs, while the pound nursed losses after a poll showed a shrinking lead for Prime Minister Theresa May's party in Britain's upcoming elections, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan stood little changed, it said.

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Property developer Iskandar Waterfront City Bhd (IWC) said that the prospects for the company remained positive despite the challenging economic backdrop.
The company said in a stock exchange filing following the AGM that all nine resolutions tabled at the meeting were passed by shareholders.
IWC chairman Datuk Ayub Mion said the company’s waterfront developments in Johor “are progressing well”.
He added that a prime example would be the joint venture with Greenland Holdings Group Ltd to develop 128 acres of prime waterfront land in Johor fronting Singapore. “The sales gallery was launched end-2016 and the first retail units will be launched soon,” he added.

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Based on corporate announcements and news flow today, stocks in focus on Monday (May 29) may include: CAP, Hibiscus, Mah Sing, Icon, Serba Dinamik, KPJ, RCE Capital, Econpile, BHIC, Titijaya, Tropicana, Pestech, Mitrajaya, MCT, Kenanga and PIE Industrial.

China Automobile Parts Holdings Ltd (CAP) will miss the deadline to submit the financial results for its first quarter ended March 31, 2017, adding that it is unsure on when it can submit the report. Its counter risks suspension of trading should it fail to submit the report by June 8.

Earlier, its auditor PKF has retracted its audit report for the year ended Dec 31, 2015, the first time in Malaysia an auditor has renounced reliability of a given prior audit opinion involving a public-listed firm.

Shares of Hibiscus Petroleum Bhd were suspended upon its request this afternoon, pending an announcement. The shares last traded 1.5 sen lower at 41 sen.

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Shares of DRB-HICOM BERHAD (1619.KL) are moving on volatility today 2.38% or $0.04 from the open. The BM listed company saw a recent bid of $1.72 and 70695100 shares have traded hands in the session.

Investors might have been ready to throw in the towel as the rally stalled recently. However, the panic subsided and growth-hungry investors came searching for their favorite stocks in the wreckage. Keeping things in perspective, the economy seems good, and so does earnings growth. Investors may be wondering where the money will be flowing in the second half of the year. Many people may assume healthcare and tech would be the easy targets, primarily because that’s where the earnings growth is. Industrials and staples are no slouches for growth either, but they may be well fully-valued for their growth.

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Axiata Group Bhd's net profit declined 35% to RM239.02 million for the first quarter ended March 31 (1QFY17) from RM368.26 million a year ago, due to higher depreciation and amortisation charges, finance costs and share of losses from associates.

This was despite a 17% growth in revenue to RM5.88 billion from RM5.01 billion a year earlier, on higher contribution from its operations in Nepal and Bangladesh.

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Insas Bhd ::Qtrly net profit attributable 66.2 million rgt versus 18.6 million rgt.Qtrly revenue 113.8 million rgt versus 84.7 million rgt.

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Shares of FRONTKEN CORPORATION BERHAD (0128.KL) are moving on volatility today -3.45% or $-0.01 from the open. The BM listed company saw a recent bid of $0.28 and 21038100 shares have traded hands in the session.

Deep diving into the technical levels for FRONTKEN CORPORATION BERHAD (0128.KL), we note that the equity currently has a 14-day Commodity Channel Index (CCI) of 156.83. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal.

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AirAsia X Bhd’s (AAX) profit for the first quarter (Q1) ended March 31, 2017, was dragged down by higher expenses such as aircraft fuel cost, which ballooned by 55% from a year earlier.

AAX, whose expenses are mostly denominated in the US dollar, said it posted a 43% year-on-year drop in operating profit to RM60.3mil mainly due to an overall 6% depreciation of the ringgit against the greenback.

The long-haul, low-cost airline told Bursa Malaysia on Tuesday that net profit fell to RM10.34mil from RM179.49mil previously.

Aircraft fuel expenses, the single largest operating cost, swelled to RM377.69mil from RM243.06mil a year earlier. Aircraft operating lease costs rose to RM70.82mil from RM45.64mil previously.
Read more at http://www.thestar.com.my/business/business-news/2017/05/23/airasia-xs-profit-hit-by-higher-fuel-expenses/#tGrUAQXxYyEMOYAS.99

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GADANG Holdings Bhd managing director and CEO Tan Sri Kok Onn adding to his holding was among the shareholding changes filed with Bursa Malaysia between April 28 and May 5.

Kok bought one million shares on the open market for RM1.29 per share on May 5, raising his direct holdings to 0.51%, and is deemed interested in another stake of 25.81%.

Gadang’s share price climbed to a five-year high recently, touching RM1.34 on May 4, before retracing to RM1.28 on May 9, which was when it announced that its wholly-owned unit’s 51%-owned joint venture had won a RM327.9 million road upgrade contract from TRX City Sdn Bhd.

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AirAsia Bhd group chief executive Officer Tan Sri Tony Fernandes said the budget airline and Tune Protect Group Bhd will announce a major collaboration to further grow both companies' income.

AirAsia is the largest shareholder in insurer Tune Protect with a 13.65% stake as at April 10, 2017. Tune Protect's units include Tune Insurance Malaysia Bhd and Tune Insurance Labuan Ltd.

"Airasia and Tune Insurance about to announce big tie up. Both incomes will grow. PC (press conference) later.

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Asian stocks fell on Thursday and the US dollar was stuck near six-month lows against a basket of currencies as uncertainty mounted over Trump's future following reports that he tried to interfere with a federal investigation, according to Reuters.

MSCI's broadest index of Asia-Pacific shares outside Japan dropped 0.4%, it said.

Kenanga IB Research said the FBM KLCI is caught in the red for the second consecutive day this week, as profit-taking activities continued to plague the local bourse.

It said at the close, the FBM KLCI slipped 2.5 points or 0.14% to close lower at 1,775.65.

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The research house noted that DRB-Hicom’s HICOM Automotive Manufacturers Malaysia’s (HAMM) automotive assembly plant is undergoing expansion. The facility specialises in the assembly of foreign marques and commercial vehicles.

To note, HAMM recently completed the construction of a new RM230mil paint shop, which is expected to boost the production capacity for Volkswagen models to 50,000 units per annum. At present, the production capacity stands at 25,000 units per year.

CIMB Research also said that the DRB-HICOM Defence Technologies Sdn Bhd (DEFTECH) is negatively affected, following a tighter government defence budget allocation.

“DEFTECH carries out contract assembly of defence vehicles. It was awarded a RM7.55bil contract in February 2011 to supply a total of 257 units of AV-8 armoured wheeled vehicles to the Malaysian Army for the period of 2014 to 2020.

“We estimate that DEFTECH has only completed approximately 26% of the AV-8 project as at end-FY16.

“This was partly due to the tightening in the government’s defence budget allocation,” stated the research house.

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FELDA GLOBAL VENTURES HOLDINGS BERHAD (5222.KL) currently has a 14-day Commodity Channel Index (CCI) of 19.09. Active investors may choose to use this technical indicator as a stock evaluation tool. Used as a coincident indicator, the CCI reading above +100 would reflect strong price action which may signal an uptrend. On the flip side, a reading below -100 may signal a downtrend reflecting weak price action. Using the CCI as a leading indicator, technical analysts may use a +100 reading as an overbought signal and a -100 reading as an oversold indicator, suggesting a trend reversal. - daily information at - http://sgx-nifty.blogspot.in/p/sgx-malaysia-uae-free-trial-form.html