Latest news with #IAC
New Straits Times
3 days ago
- Business
- New Straits Times
DNeX wins RM103.76mil job to support government's management system
KUALA LUMPUR: Dagang NeXchange Bhd's (DNeX) subsidiary Innovation Associates Consulting Sdn Bhd (IAC) has secured a contract from the Finance Ministry to continue supporting the integrated government financial and management system (iGFMAS) system. The contract, valued at RM103.76 million and spans over 60 months, covers the maintenance, support services and application enhancement of iGFMAS. iGFMAS plays a central role in ensuring the efficient, secure, and transparent management of federal government finances. The system enables the preparation of the federal government financial statements based on modified cash and accrual accounting. DNeX group chief executive officer Faizal Sham Abu Mansor said the contract underscores its full commitment to the government and the ministry's continued confidence in the group's technical expertise, proven delivery track record and strategic role in national digital transformation. This will allow DNeX to build on its strong foundation and deepen its involvement in supporting the digital transformation of Malaysia's public sector. "This contract allows us to build on our existing foundation and further enhance the platform to meet the evolving financial governance needs of Malaysia. "We are in full alignment with the government's aspiration of having government services to be agile in adapting to technology and digital means as a way to better serve the Malaysian public," he said in a statement. DNeX, through its IT segment, continues to support the Malaysian government with key digital infrastructure, backed by a team of 400 technical staff and 16 specialists in big data and artificial intelligence (AI). The group plans to expand globally and explore emerging technologies such as SAP S/4HANA, AI, cybersecurity and mobile apps. Its IT arm includes Dagang Net, IAC, DNeX Solutions and the joint venture Gamuda DNeX Cloud, providing integrated digital solutions for both public and private sectors. DNeX said the new contract enhances income visibility while strengthening its position as a trusted provider of end-to-end digital solutions in support of Malaysia's long-term public sector digital transformation agenda.
Malaysian Reserve
3 days ago
- Business
- Malaysian Reserve
DNeX unit bags RM104m MoF contract for iGFMAS system support
DAGANG NeXchange Bhd (DNeX) said that its subsidiary, Innovation Associates Consulting Sdn Bhd (IAC), has secured a RM103.76 million contract from the Ministry of Finance (MoF) to provide maintenance and application support services for the iGFMAS system. In a filing with Bursa Malaysia, DNeX said IAC accepted the letter of acceptance on June 18, 2025. The contract spans a five-year period from the same date. The iGFMAS system, short for Integrated Government Financial and Management Accounting System, is a core platform used for federal government financial operations. DNeX said the project is expected to contribute positively to the group's earnings and net assets per share from the financial year ending Dec 31, 2025, onwards. The group also noted that none of its directors, major shareholders, or persons connected to them have any interest in the project. — TMR
Yahoo
5 days ago
- Business
- Yahoo
Hain Celestial, Guess, IAC, First Watch, and Levi's Shares Skyrocket, What You Need To Know
A number of stocks jumped in the afternoon session after the major indices rebounded (Nasdaq +1.5%, S&P 500 +1.0%) as reports pointed to easing tensions between Israel and Iran. The Wall Street Journal said senior Iranian officials had signaled a willingness to restart stalled nuclear talks, on the condition that Washington refrain from joining Israel's ongoing strikes. This development triggered a significant decline in oil prices, easing inflation concerns. Also, it is possible some investors were buying the dip following the sell-off at the end of the previous week. The stock market overreacts to news, and big price drops can present good opportunities to buy high-quality stocks. Among others, the following stocks were impacted: Shelf-Stable Food company Hain Celestial (NASDAQ:HAIN) jumped 6.8%. Is now the time to buy Hain Celestial? Access our full analysis report here, it's free. Apparel and Accessories company Guess (NYSE:GES) jumped 5.3%. Is now the time to buy Guess? Access our full analysis report here, it's free. Digital Media & Content Platforms company IAC (NASDAQ:IAC) jumped 5.7%. Is now the time to buy IAC? Access our full analysis report here, it's free. Sit-Down Dining company First Watch (NASDAQ:FWRG) jumped 5.3%. Is now the time to buy First Watch? Access our full analysis report here, it's free. Apparel and Accessories company Levi's (NYSE:LEVI) jumped 5.1%. Is now the time to buy Levi's? Access our full analysis report here, it's free. Hain Celestial's shares are extremely volatile and have had 50 moves greater than 5% over the last year. In that context, today's move indicates the market considers this news meaningful but not something that would fundamentally change its perception of the business. The previous big move we wrote about was 10 days ago when the stock gained 6% after the major indices rebounded, as the Bureau of Labor Statistics report revealed a resilient labor market with non-farm payrolls rising by 139,000 in May 2025, significantly above the consensus forecast of 125,000. Notably, a stable labor market often supports consumer spending, which is a key driver of economic growth, which means the report could help ease some of the recession fears that gripped markets. The data also supported the soft landing narrative, where the Fed can manage inflation toward its 2% target without significant damage to the economy. Hain Celestial is down 71.3% since the beginning of the year, and at $1.72 per share, it is trading 81.1% below its 52-week high of $9.09 from October 2024. Investors who bought $1,000 worth of Hain Celestial's shares 5 years ago would now be looking at an investment worth $55.73. Unless you've been living under a rock, it should be obvious by now that generative AI is going to have a huge impact on how large corporations do business. While Nvidia and AMD are trading close to all-time highs, we prefer a lesser-known (but still profitable) semiconductor stock benefiting from the rise of AI. Click here to access our free report on our favorite semiconductor growth story. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
13-06-2025
- Business
- Yahoo
1 Volatile Stock on Our Buy List and 2 to Be Wary Of
A highly volatile stock can deliver big gains - or just as easily wipe out a portfolio if things go south. While some investors embrace risk, mistakes can be costly for those who aren't prepared. Navigating these stocks isn't easy, which is why StockStory helps you find Comfort In Chaos. That said, here is one volatile stock that could reward patient investors and two that could just as easily collapse. Rolling One-Year Beta: 1.30 With access to millions of trucks, RXO (NYSE:RXO) offers full-truckload, less-than-truckload, and last-mile deliveries. Why Are We Out on RXO? 6.2% annual revenue growth over the last two years was slower than its industrials peers Earnings per share fell by 38.8% annually over the last four years while its revenue grew, showing its incremental sales were much less profitable Unfavorable liquidity position could lead to additional equity financing that dilutes shareholders At $16.09 per share, RXO trades at 56.9x forward P/E. Check out our free in-depth research report to learn more about why RXO doesn't pass our bar. Rolling One-Year Beta: 1.52 Originally known as InterActiveCorp and built through Barry Diller's strategic acquisitions since the 1990s, IAC (NASDAQ:IAC) operates a portfolio of category-leading digital businesses including Dotdash Meredith, Angi, and focusing on digital publishing, home services, and caregiving platforms. Why Do We Avoid IAC? Annual sales declines of 1.3% for the past five years show its products and services struggled to connect with the market during this cycle Earnings per share have contracted by 51% annually over the last four years, a headwind for returns as stock prices often echo long-term EPS performance Negative returns on capital show management lost money while trying to expand the business IAC is trading at $36.50 per share, or 29.5x forward P/E. To fully understand why you should be careful with IAC, check out our full research report (it's free). Rolling One-Year Beta: 1.51 Founded by Australian co-CEOs Mike Cannon-Brookes and Scott Farquhar in 2002, Atlassian (NASDAQ:TEAM) provides software as a service that makes it easier for large teams of software developers to manage projects, especially in software development. Why Do We Love TEAM? Average billings growth of 14.7% over the last year enhances its liquidity and shows there is steady demand for its products User-friendly software enables clients to ramp up spending quickly, leading to the speedy recovery of customer acquisition costs Impressive free cash flow profitability enables the company to fund new investments or reward investors with share buybacks/dividends Atlassian's stock price of $197.15 implies a valuation ratio of 8.9x forward price-to-sales. Is now the time to initiate a position? See for yourself in our comprehensive research report, it's free. The market surged in 2024 and reached record highs after Donald Trump's presidential victory in November, but questions about new economic policies are adding much uncertainty for 2025. While the crowd speculates what might happen next, we're homing in on the companies that can succeed regardless of the political or macroeconomic environment. Put yourself in the driver's seat and build a durable portfolio by checking out our Top 5 Strong Momentum Stocks for this week. This is a curated list of our High Quality stocks that have generated a market-beating return of 183% over the last five years (as of March 31st 2025). Stocks that made our list in 2020 include now familiar names such as Nvidia (+1,545% between March 2020 and March 2025) as well as under-the-radar businesses like the once-micro-cap company Kadant (+351% five-year return). Find your next big winner with StockStory today for free. Find your next big winner with StockStory today. Find your next big winner with StockStory today.
United News of India
12-06-2025
- Automotive
- United News of India
IAC welcomes Telangana's move to promote auto LPG, Urges nationwide adoption for clean Mobility
Hyderabad, June 11 (UNI) The Indian Auto LPG Coalition (IAC) on Wednesday welcomed Telangana government's decision to include Auto LPG as an approved fuel for 40,000 new eco-friendly autos within the Outer Ring Road (ORR) limits of Hyderabad. This forward-thinking move is set to significantly reduce vehicular emissions in the city and marks a crucial step towards cleaner urban air, IAC said in a release. As India strives to tackle rising air pollution and achieve its climate goals, it is imperative to utilize the full spectrum of clean fuels available. Embracing a diverse mix of alternative fuels—including Auto LPG, CNG, electricity, and biofuels—will not only accelerate the transition to clean mobility but also enhance the nation's energy security, provide consumers with more choices, and ensure a practical, scalable approach to reducing emissions across the country. Mr. Suyash Gupta, Director General of Indian Auto LPG Coalition, said, "Telangana government's decision to include Auto LPG as an eco-friendly fuel is a positive and timely move in India's fight against rising urban pollution. Including Auto LPG in alternative fuel policies not only helps reduce harmful vehicular emissions but also strengthens India's overall energy security by diversifying our fuel mix. Auto LPG is a proven, cost-effective, and readily available solution that can deliver immediate improvements in air quality, especially in our most polluted cities. We urge other states and the central government to adopt similar policies, ensuring that clean fuel options like Auto LPG are accessible to millions of vehicle owners nationwide." On a related note, the IAC had also acknowledged the recent move by the Commission for Air Quality Management (CAQM) to restrict the addition of new diesel and petrol vehicles to e-commerce and aggregator fleets in the Delhi-NCR region from January 1 next year. Such decisive action is a significant milestone in India's journey towards clean mobility and reflects a strong commitment to addressing the rising pollution issues in one of the country's most critical regions. "To achieve even more impactful and immediate results in curbing air pollution, it is essential that more OEMs start offering LPG variants and that the retrofitment is actively encouraged as well across the nation. With over 33crore petrol and diesel vehicles already on our roads, an outright ban or phase-out is simply not feasible in the short term. By incentivizing and streamlining retrofitment to cleaner fuels like Auto LPG, we can rapidly convert millions of existing vehicles into low-emission alternatives. Auto LPG is not only cost-effective for consumers but also delivers substantial reductions in harmful emissions, making our cities healthier and our air cleaner. We urge policymakers to complement this progressive fleet policy with robust support for retrofitment initiatives, ensuring a practical, sustainable, and inclusive transition to clean mobility for India's vast vehicle population," he added. UNI KNR GNK
