<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 16): RHB Retail Research said Notion VTec Bhd is looking to extend upside movement after staging a bullish breakout.</p></div>

<div class=newsTextDataWrapInner><p>In a trading stocks note on Tuesday, the research house said that the stock has rebounded above the 49.5 sen resistance, ie above the 21-day simple moving average (SMA) line.</p></div>

<div class=newsTextDataWrapInner><p>“We observed the trading volume increasing — showing the bullish momentum is accelerating.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Expect this momentum to propel the stock towards the next resistance at the 56 sen recent high, followed by 63.5 sen.</p></div>

<div class=newsTextDataWrapInner><p>“On the flipside, falling below the 44.5 sen support will negate the bullish setup,” it said.</p></div>


RHB Retail Research said Notion VTec Bhd is looking to extend upside movement after staging a bullish breakout.

Notion VTec aiming to extend upside movement — RHB Retail Research 

The Nasdaq breached the 17,000 level for the first time on Tuesday, buoyed as AI darling Nvidia jumped to a record high, even as focus shifted to key inflation data later in the week that could sway expectations for the Federal Reserve's rate-cut path.

Nasdaq crosses 17,000 mark ahead of inflation test

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

YTL Power, Ranhill, MPHB, IHH Healthcare, Aurelius, Pestech, CelcomDigi, UEM Sunrise, IGB, FGV, E&O, Supermax, BLand, Magnum, Signature International, Star Media

Ageson Bhd (KL:AGES), which entered Practice Note 17 (PN17) status back in November 2023, has secured a construction subcontract worth RM54.33 million for the development of a 40-storey service suite block in Sabah.

Ageson secures RM54.33m construction subcontract in Sabah

Kenanga Investment Bank Bhd’s (KL:KENANGA) net profit more than doubled to RM22.83 million in the first quarter ended March 31, 2024 (1QFY2024), from RM10.25 million a year ago, driven by higher trading and investment income, management fee income and higher share of profit from its associate company.

Kenanga Investment Bank's 1Q net profit more than doubles, foresees increased trading volume on Bursa 

Star Media Group Bhd (KL:STAR) registered a net loss of RM193,000 for the first quarter ended March 31, 2024 (1QFY2024) versus a net profit of RM1.14 million a year earlier, dragged by higher operating costs.

Star Media posts slim net loss in 1QFY2024, appoints three new board members

Hextar Technologies Solutions Bhd (HexTech) (KL: HEXTECH) continued to be in the red for a fourth consecutive quarter, as the company posted a net loss of RM8.49 million for its fourth financial quarter ended March 31, 2023 (4QFY2024).

Hextar Technologies bleeds red ink for fourth consecutive quarter

US consumer confidence unexpectedly improved in May after deteriorating for three consecutive months amid optimism about the labour market, a survey showed on Tuesday.

US consumer confidence unexpectedly improves in May

The Malaysian Anti-Corruption Commission (MACC) clarified that it has conducted an interim investigation into the award of the Demand Responsive Transit (DRT) pilot project contract by the Selangor government to the company owned by Youth and Sports Minister Hannah Yeoh's husband, and found no wrongdoing.

Probe into award of contract to company linked to Hannah Yeoh’s husband revealed no wrongdoing — MACC chief

Pestech International Bhd (KL:PESTECH) has filed a counterclaim against Syarikat Pembinaan Yeoh Tiong Lai (SPYTL) at the Asian International Arbitration Centre (AIAC) over their dispute arising from the termination of a subcontract for electrification system works pertaining to the Electrified Double Track project from Gemas to Johor Bahru.

Pestech files counterclaim against YTL unit in Gemas-JB double track dispute

Berjaya Land Bhd (KL:BJLAND) said its net profit surged more than sevenfold for the third quarter ended March 31, 2024 (3QFY2024), attributed to gains from equity disposal and the revaluation of retained equity interest.

Berjaya Land's 3Q profit up sevenfold on disposal, revaluation gains

<p>A dispute is understood to be brewing between two of the heirs of the late gaming billionaire Tan Sri Dr Chen Lip Keong at his Hong Kong-listed flagship NagaCorp Ltd, which operates NagaWorld, a casino in Phnom Penh, Cambodia.</p>

<p>Lip Keong, who died in December last year at the age of 75, ...

Family feud erupts at NagaCorp

<p>Shares in Ranhill Utilities Bhd (KL:RANHILL) plunged as much as 21.7% to RM1.23 on Tuesday, following news of YTL Power International Bhd’s (KL:YTLPOWR) 70%-owned unit SIPP Power Sdn Bhd’s general offer at 99.5 sen apiece.</p>


Ranhill shares plummet as much as 21%, intraday short-selling suspended

<p>IN a move to counter what the White House deems unfair trade practices by China, the US has announced a slew of tariff increases that will affect US$18 billion of Chinese imports, ranging from semiconductors and rubber to surgical gloves.</p>

<p>Not surprisingly, the share price of the Big Fou...

Don’t get too excited about glove counters just yet

<p>The government is&nbsp;allocating at least RM25 billion to support the newly launched National Semiconductor Strategy (NSS), Prime Minister Datuk Seri Anwar Ibrahim said on Tuesday.</p>


Govt allocates RM25b for National Semiconductor Strategy

<p>The proposed acquisition of a 31.4% stake in Ranhill Utilities Bhd (KL:RANHILL) appeared to be a positive move for YTL Power International Bhd’s (KL:YTLPOWR), according to analysts.</p>


Analysts see Ranhill as a 'strategic fit' for YTL Power

<p>All 122 units of Sime Darby Property Bhd's (KL:SIMEPROP) Elmina Ridge 1 (phase one) residential development in the City of Elmina, Shah Alam has been fully taken up.</p>


First phase of Sime Darby Property's Elmina Ridge 1 fully sold

<p>The High Court (Appellate and Special Powers Division) has fixed July&nbsp;1 to deliver its decision on whether to grant leave (permission) sought by lawyer Rosli Dahlan to challenge the decision by the police and government to freeze four of his Amanah Saham Nasional Bhd (ASNB) accounts on suspicion of them being used for money-laundering activities.</p>


Lawyer Rosli Dahlan to know on July 1 if he can challenge freezing of his ASNB accounts

<p>No one’s property in Hong Kong epitomises the pain in the office market better than real estate legend Li Ka-shing’s.</p>


Li Ka-shing’s unfilled towers show deepening Hong Kong downturn

<p>IHH Healthcare Bhd (KL:IHH) said on Tuesday that it is still in the midst of looking for potential mergers and acquisitions (M&amp;As) in Indonesia and Vietnam, with a focus on deals that are earnings accretive and offer significant synergies.</p>


IHH Healthcare still looking at possible M&As in Indonesia, Vietnam — group CEO

<p>Indonesia’s antitrust authorities are investigating Southeast Asia’s e-commerce leader Sea Ltd for potentially unfairly favouring its own delivery service over other alternatives.</p>


Sea unfairly favoured its own delivery service, Indonesia says

<p>Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORTS) said it has granted Segi Astana Sdn Bhd a further 22-year concession extension till 2069 to operate gateway @ klia2.</p>


MAHB-WCT joint venture granted extension till 2069 to operate gateway@klia2

<p>The Malaysian Anti-Corruption Commission (MACC) officer investigating Datuk Seri Najib Razak told the High Court on Tuesday that the ex-prime minister had hindered the graft-busters' investigation into the 1Malaysia Development Bhd (1MDB) scandal.</p>


Najib hindered MACC's investigations into 1MDB, claims IO

<p>Supermax Corp Bhd (KL:SUPERMX) posted its sixth straight quarterly loss on Tuesday, but the loss for its third quarter ended March 31, 2024 (3QFY2024) was smaller than a year earlier thanks to improved profit margins.</p>


Supermax narrows net loss in 3Q on improved profit margins despite weak demand

Here’s a quick look at some of the stories that made headlines today.


EVENING 5: Five things you need to know today

<p>Aurelius Technologies Bhd (KL:ATECH) has proposed to undertake a private placement of up to 39.41 million shares, or 10% of its issued share capital, mainly to build a new manufacturing plant in Kulim Hi-Tech Park in Kedah.</p>


Aurelius plans to raise RM123 mil via private placement for manufacturing plant, posts record-high quarterly net profit

<p>Real estate developer UEM Sunrise Bhd (KL:UEMS) said on Tuesday its first-quarter net profit nearly halved from a year earlier as sales fell while operating expenses rose.</p>


UEM Sunrise’s 1Q earnings down 48% on higher expenses, lower sales

<p>MALAYSIA’s initial public offering (IPO) market has been short of mega listings in recent years, with the largest in the last five years being that of Mr DIY Holdings Bhd (KL:MRDIY), which raised RM1.5 billion in 2020.</p>

<p>Citigroup’s head of Asia, North Australia and Asia South ECM origina...

Citi: Malaysia’s IPO market primed for bigger listings in the next 12 to 18 months

<p>Co unveiled a new hybrid powertrain that’s capable of allowing a car to travel more than 2,000km without recharging or refueling.</p>


BYD shows off new hybrid powertrain capable of ultra-long drive

<p>Pestech International Bhd (KL:PESTECH) has filed a counterclaim against Syarikat Pembinaan Yeoh Tiong Lai (SPYTL) at the Asian International Arbitration Centre (AIAC) over their dispute arising from the termination of a subcontract for electrification system works pertaining to the Electrified Double Track project from Gemas to Johor Bahru.</p>


<p>Ekuiti Nasional Bhd (Ekuinas), a state-owned private equity firm, said on Tuesday it is committing another RM100 million to its Dana Asas II fund.</p>
