Company Overview and News
KUALA LUMPUR (Aug 15): The FBM KLCI held on to its marginal gains at mid-morning today, despite the retreat at most regional markets, propped up by Petronas-linked stocks.
APEXF 5161 7090 0090 7192 8621 5681 JCYBF BATS 4162 7034 6033 5101 PNADF 3301 5797 6556 5819 PNAGF
Ann Joo Resources Bhd (Aug 13, RM2.08) Maintain buy with a target price (TP) of RM2.60: Ann Joo Resources Bhd’s share price has fallen 46% year to date due to the implementation of the US steel import tariff, the review of local megaprojects and the electricity tariff hike. We lower our financial year ending Dec 31, 2018 estimated (FY18E) to FY20E earnings per share (EPS) by 3% to 13% on our expectations of weaker local demand in the second half of 2018 (2H18) and higher electricity cost from 2H18.
KUALA LUMPUR (Aug 13): Malaysia's steel sector is likely to experience further headwinds, as global demand is likely to be further hit by shaky demand from China's waning construction sector, in addition to risks from trade war tariffs, said MIDF Amanah Investment Bank Bhd Research.
5797 5665 6556 5094 5087 9199
KUALA LUMPUR (Aug 1): Based on corporate announcements and news flow today, companies in focus on Thursday (Aug 2) may include: DRB-Hicom Bhd, Malakoff Corp Bhd, Borneo Aqua Harvest Bhd, Boustead Plantations Bhd, LKL International Bhd, Malaysia Marine and Heavy Engineering Holdings Bhd, Ann Joo Resources Bhd, Utusan Melayu (Malaysia) Bhd, Poly Glass Fibre (M) Bhd, Datasonic Group Bhd, Apex Equity Holdings Bhd and AirAsia Group Bhd.
5216 5754 6556 5088 MYPRY 8117 5014 0098 5254
KUALA LUMPUR (Aug 1): Ann Joo Resources Bhd has been ordered by the Arbitration Tribunal in China to pay a remaining sum of US$3.16 million under a contract with a Chinese steelmaker, following a two-year legal battle involving claims and counter-claims by the two companies.
Ann Joo Resources Bhd (July 23, RM2.02) Maintain hold with a fair value (FV) of RM2.17: We cut our FY18-20 net profit forecasts by 11%, 13% and 31% respectively, reduced our FV by 20% to RM2.17 (from RM2.70), but maintained our “hold” call.
KUALA LUMPUR: Ann Joo Resources Bhd has started to look more closely at export markets to mitigate slowing local demand for steel products in the wake of the large scale back of infrastructure projects in the country by the new Pakatan Harapan administration.
KUALA LUMPUR (June 11): RHB Retail Research said Ann Joo Resources Bhd may rebound further after it tested the RM2.00 support recently.
According to its group managing director Datuk Lim Hong Thye, higher steel demand in Malaysia would be driven mainly by the full rollout of several big infrastructure and property projects. Ann Joo Resources is Malaysia’s largest steel company(pic) by market capitalisation at RM1.67bil.
PETALING JAYA: Steel miller Ann Joo Resources Bhd will raise nearly RM3.6mil from the conversion of redeemable convertible cumulative preference shares (RCPS) into ordinary shares.
6556 BSMAF 1818
3h - Asif
Overview Recro Pharma is a specialty pharmaceutical company that operates through two business divisions: an Acute Care division and a revenue-generating CDMO division. Each of these divisions are deemed to be reportable segments for financial reporting purposes. The company's Acute Care segment is primarily focused on developing and commercializing innovative products for hospital and related acute care settings. The company's lead product candidate is a proprietary injectable form of meloxicam, a long-acting preferential COX-2 inhibitor. IV meloxicam has successfully completed three Phase III clinical trials for the management of moderate to severe pain, consisting of two pivotal efficacy trials and a large double-blind Phase III safety trial, as well as other safety studies. Overall, the total new drug application, or NDA, program included over 1,400 patients. In late July 2017, the company submitted a NDA to the U.S. Food and Drug Administration, or FDA, for IV meloxicam...
3h - Asif
Overview Achillion Pharmaceuticals is a clinical-stage biopharmaceutical company focused on advancing its oral factor D inhibitors into late-stage development and commercialization. Each of the drug candidates in its oral factor D portfolio was discovered in its laboratories and is wholly owned by it. Achillion Pharmaceuticals is focusing its drug development activities on alternative pathway-mediated, rare diseases where there are no approved therapies or where existing therapies are inadequate for patients. To advance its investigational drugs into phase III and commercialization, the company plan to work closely with key stakeholders including patients, payors, regulators and healthcare professionals. The company's first-generation factor D inhibitor, ACH-4471, has demonstrated preliminary clinical proof-of-concept in patients with C3 glomerulopathy, or C3G, a disease affecting the kidney, and paroxysmal nocturnal hemoglobinuria, or PNH, a blood disorder, and has advanced...
4h - Asif
General Baytex Energy Corp. was incorporated on October 22, 2010 pursuant to the provisions of the ABCA. Baytex is the successor to the business of Baytex Energy Trust, which was transitioned to Baytex on December 31, 2010. Inter-Corporate Relationships The following table provides the name, the percentage of voting securities owned by it and the jurisdiction of incorporation, continuance, formation or organization of its material subsidiaries either, direct and indirect, as at the date hereof. ||Percentage of voting securities (directly or indirectly)|Jurisdiction of Incorporation/Formation| | ------------ | ------------: | :------------: | |Baytex Energy Ltd.|100%|Alberta| |Baytex Energy USA, Inc.|100%|Delaware| |Baytex Energy Partnership|100%|Alberta| Organizational Structure The following simplified diagram shows the inter-corporate relationships among it and its material subsidiaries as of the date hereof. <img src="https://www.sec.gov/A...