-- AlphaMena on Friday downgraded travel agencies operator Seera Group (SASE:1810) to add from buy, while increasing its price target to 28.90 Saudi riyals from 28.50 riyals.
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Glass Lewis issued a controversy alert for PPB Group (KLSE:PPB) shareholders ahead of the company's annual general meting on May 14, according to a recent release.The alert concerns regulatory and legal issues related to Wilmar International, in which the company is the largest shareholder.Wilmar International is a major earnings contributor for the company.The company recognized a material 4.17 billion ringgit impairment on its Wilmar investment, leading to a net loss at the group level.The impairment stems from regulatory penalties, legal cases, and compliance-linked risks in Indonesia, as well as macroeconomic constraints faced by Wilmar International in China.The adjustment points to rising doubts about Wilmar International's future contributions.The alert's rationale relates to relevant media coverage and potential material ESG risk and falls under oversight issue and other governance issue.
The euro area's private sector output fell for the first time in 16 months in April, with a decline in new orders for the second straight month amid the ongoing war in the Middle EastThe seasonally adjusted S&P Global Flash Eurozone Composite PMI Output Index hit a 17-month low of 48.6, below the previous 50.7 and expected 50.2, flash data from S&P Global showed Thursday.Meanwhile, the services PMI reached a 62-month low of 47.4, against the earlier reading of 50.2 and the market forecast of 49.8. On the manufacturing side, the PMI rose to a 47-month high of 52.2 from the prior month's 51.6 and the Investing.com consensus estimate of 50.9.
Shanghai Allist Pharmaceuticals' (SHA:688578) attributable profit rose 55% to 632.8 million yuan in the first quarter from 395.8 million yuan in the year-ago period, according to a Thursday filing with the Shanghai bourse.Earnings per share at the drug manufacturer increased to 1.41 yuan from 0.91 yuan in the prior-year period.Operating income grew 44% year over year to 1.58 billion yuan from 1.10 billion yuan.