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Analysts cut target prices for MyNews following biggest quarterly loss in 2QFY21 amid lockdown

KUALA LUMPUR (June 28): At least three research houses have lowered their target prices (TPs) for MyNews Holdings Bhd following the announcement of its largest quarterly loss since it was listed in 2016.
CGS-CIMB Research has lowered its TP for the stock to 91 sen from RM1, followed by RHB Investment Bank Research (RHB Research) to RM1.20 from RM1.25 and Kenanga Research to 95 sen from RM1.
MyNews’ stock was down three sen or 3.39% this morning to 85.5 sen.
To recap, MyNews net loss widened further to RM10.32 million for the second quarter ended April 30, 2021 (2QFY21), compared with a net loss of RM2.33 million during the same quarter a year ago. ....

Kuala Lumpur , South Korea , South Korean , Ahmad Ramzani Ramli , Soong Wei Siang , Syazwan Aiman , Investment Bank Research , National Recovery Plan , Tps For Mynews Holdings Bhd , Kenanga Research , Mynews Holdings Bhd , Bank Research , Syazwan Aiman Sobri , குவாலா லம்பூர் , தெற்கு கொரியா , தெற்கு கொரியன் , சூங் வெய் சியாங் , முதலீடு வங்கி ஆராய்ச்சி , தேசிய மீட்பு திட்டம் , கெனாங்க ஆராய்ச்சி , வங்கி ஆராய்ச்சி ,

Serba Dinamik, IOI Corp, HB Global, MAHB, MYEG, Yinson and MyNews

Based on corporate announcements and news flow today, companies in focus on Monday (June 28) may include: Serba Dinamik Holdings Bhd, IOI Corp Bhd, HB Global Ltd, Malaysia Airports Holdings Bhd, MY EG Services Bhd, Yinson Holdings Bhd and MyNews Holdings Bhd. ....

Kuala Lumpur , Rozilawati Basir , Serba Dinamik , Hasman Yusri Yusoff , Andy Hall , Sdn Bhd , Anna Nery , Hasmuddin Tengku Othman , Masleena Zaid , Sultan Abdul Aziz Shah , Serba Dinamik Holdings Bhd , Hb Global Ltd , Corp Bhd , Yinson Holdings Bhd , Anhui Zhifei Biopharmaceutical Co Ltd , Ministry Of Finance Mo , My Eg Services Bhd , Malaysia Airports Holdings Bhd , Mynews Holdings Bhd , Provident Fund , Mynews Holdings , Sharifah Irina Syed Ahmad Radzi , Tengku Datuk Seri Hasmuddin Othman , Employees Provident Fund , Border Protection , Forward Resources ,

Cover Story: MyNews, 7-Eleven, Mr DIY top picks for convenience, speciality stores

Cover Story: MyNews, 7-Eleven, Mr DIY top picks for convenience, speciality stores
The Edge
13/5/2021
Supriya Surendran
© Provided by The Edge
OPERATORS of mini-marts, convenience stores and cooperatives anticipate that revenue growth will be maintained this year after a strong 2020. First-quarter 2021 (1Q2021) growth is projected at 12.5%, according to an industry report.
Retail growth for the furniture and furnishings, home improvement as well as electrical and electronics subsectors is pegged at a higher 14.6% in the first three months, states the Malaysia Retail Sales Report by Retail Group Malaysia.
From a stock perspective, analysts are sanguine about the prospects of convenience store operators such as MyNews Holdings Bhd, 7-Eleven Malaysia Holdings Bhd and QL Resources Bhd, as well as home improvement retailer Mr DIY Group (M) Bhd. We take a closer look at the stocks. ....

South Korea , South Korean , Chee Yioun , Jalil Rasheed , Aminvestment Bank Research , Retail Group Malaysia , Centrepoint Shopping Centre In Bandar Utama , Caring Pharmacy Group Bhd , Berjaya Corp Bhd Bcorp , Groupm Bhd , Eleven Malaysia Holdings Bhd , Mynews Holdings Bhd , Aminvestment Bank , Utama Shopping Centre , Malaysia Retail Sales Report , Retail Group , One Utama Shopping Centre , Centrepoint Shopping Centre , Eleven Malaysia Holdings , Eleven Malaysia , Tan Sri Vincent Chee Yioun , Caring Pharmacy Group , Berjaya Corp Bhd , Caring Pharmacy , Japanese Familymart , Investment Bank ,

Opening of CU outlets seen as positive

CGS-CIMB Research expected the opening of 40 to 100 new CU outlets per year over financial years 2021 ending Oct 31 (FY21) to FY23 forecast, noting that the capacity take-up will be gradual. “Thus, we are still expecting its FPC to remain loss-making till end-FY22 forecast, ” it added
PETALING JAYA: Although the opening of CU outlets by MyNews Holdings Bhd
is positive for the group’s earnings growth, weak footfall of stores coupled with low food processing centre (FPC) utilisation rates pose risks in the near-term.
CGS-CIMB Research expected the opening of 40 to 100 new CU outlets per year over financial years 2021 ending Oct 31 (FY21) to FY23 forecast, noting that the capacity take-up will be gradual. ....

Malaysia General , Mynews Holdings Bhd , Mynews Holdings , South Korean Style , மலேசியா ஜநரல் , தெற்கு கொரியன் நடை ,

Making news with growth drivers

, aims to bank on the expansion of its outlets and potential brand tie-ups as it sees this as growth drivers in the wake of the revival of stiff competition in the retail space.
As the second-largest convenience store chain in the country after 7-Eleven, its latest brand tie-up with leading South Korean convenience store CU last year would culminate in the opening of 30 to 50 CU outlets this year. The outlet was launched on April 1.
Analysts are upbeat about the opening of the outlets as they expect the brand’s potential scalability to support the company’s earnings growth.
Group CEO Dang Tai Luk (pic below) told StarBiz that it plans to maintain at least 100 outlets for this year and the next. ....

South Korea , Malaysia General , South Korean , Maru Kafe , Dang Tai Luk , Mynews Holdings Bhd , Ambank Research , Mynews Holdings , Tai Luk , Klang Valley , Corporate News , Brand Tie Ups , தெற்கு கொரியா , மலேசியா ஜநரல் , தெற்கு கொரியன் , மரு காபே , டங் தை லுக் , தை லுக் , கிளாங் பள்ளத்தாக்கு , பெருநிறுவன செய்தி , பிராண்ட் கட்டு யு பி எஸ் ,