Company Overview and News
KUALA LUMPUR (July 20): The FBM KLCI fell 0.42% at mid-morning today, weighed by losses at select index-linked blue chips, including Tenaga Nasional Bhd and Genting Bhd.
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ob rollouts: Tourists take photos of Petronas Twin Towers. Petronas has implemented systemic changes in contract rollouts by focusing on economies of scale and cost efficiency. — AFP
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KUALA LUMPUR: Tenders for floating production storage and offloading (FPSO) jobs are now at the highest in three years, Yinson Holdings Bhd group chief executive officer (CEO) Lim Chern Yuan said, adding that this bodes well for the offshore production and support services provider.
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KUALA LUMPUR (July 12): Tenders for floating production, storage and offloading (FPSO) jobs are now at the highest in three years, Yinson Holdings Bhd group chief executive officer Lim Chern Yuan said, adding that this bodes well for the offshore production and support services provider.
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With the US-China tariff war kicking in last Friday, all eyes are now on US President Donald Trump, who has threatened to extend levies on all US$500 billion of goods imported from China, from US$34 billion currently. He also has several high-profile meetings in Europe this week.
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Yinson Holdings Bhd (June 29, RM4.58) Maintain buy with a fair value (FV) of RM5.53: We maintain a buy on Yinson Holdings (Yinson) with a slightly higher sum-of-parts-based (SOP) fair value of RM5.53/share (from an earlier RM5.51/share), which implies 14 times price-earnings for the financial year ending Jan 31 2021 forecast (FY21F).
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Yinson Holdings Bhd (June 28, RM4.50) Maintain buy with a lower target price (TP) of RM5.20: Yinson’s first quarter financial year 2019 (1QFY19) core earnings came below our and consensus expectations at 18.9% and 18.8% respectively. This was on an underestimation of the negative earnings impact from floating production storage and offloading (FPSO) Lamson’s premature contract termination in 3QFY18, due to a cessation of the joint venture (JV) that had been chartering the FPSO.
KUALA LUMPUR: Trading volume on Bursa Malaysia, battered by the longest selling by foreign funds since the 14th General Election, saw it falling to 1.56 billion shares, the lowest since the start of 2018 as the US-China trade tensions rattled investor confidence. At 5pm, the FBM KLCI was a shade lower by 0.4 of a point to 0.02% to 1,665.68. Turnover was 1.56 billion shares valued at RM1.65bil. There were 365 gainers, 419 losers and 395 counters unchanged.
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KUALA LUMPUR (June 28): CIMB IB Research has downgraded Yinson Holdings Bhd to “Hold” at RM4.65 with a lower target price of RM4.70 (from RM5.32) and said Yinson’s 1QFY1/19 core earnings of RM49 million were below expectations (only 16% of previous FY19F forecast), as the research house underestimated interest expense, and due to the weak US$.
CIMB Equities Research has downgraded Yinson Holdings Bhd from Add to Hold after the share price rallied 23% over the past three months.
KUALA LUMPUR (June 27): Based on corporate announcements and news flow today, stocks in focus for Thursday (June 28) may include the following: Country Heights Holdings Bhd, TA Global Bhd, Berjaya Land Bhd, MGB Bhd, EA Technique (M) Bhd, Gamuda Bhd, Yinson Holdings Bhd, Borneo Oil Bhd and Comfort Gloves Bhd.
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KUALA LUMPUR (June 27): After record earnings in FY18, offshore support services company Yinson Holdings Bhd got off to a tepid start in the first quarter ended April, posting a profit of RM60.43 million against RM60.29 million a year ago, higher revenues notwithstanding.
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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...
11h - 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...
11h - 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...