<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 14): Timber product manufacturer ARB Bhd saw some five million shares, or a 3.93% stake traded off market today at 31.5 sen per share.</p></div>

<div class=newsTextDataWrapInner><p>The block of shares changed hands at a 13 sen or 29% discount over today’s closing of 44.5 sen.</p></div>

<div class=newsTextDataWrapInner><p>It was not known which substantial shareholder had divested the chunk of shares in ARB. Neither was there any disclosure on the buyer.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The company’s largest shareholders, according to Bloomberg, is Yeo Wang Ting holding 18.46% or 23.47 million, followed by Aspirasi Puspita Sdn Bhd 10.59% (13.47 million shares) and Liew Kok Leong 6.25% (7.95 million shares).</p></div>

<div class=newsTextDataWrapInner><p>On June 12, ARB announced that some 210,500 irredeemable convertible preference shares were converted into ordinary shares at the issue price of 20 sen.</p></div>


Timber product manufacturer ARB Bhd saw some five million shares, or a 3.93% stake traded off market today at 31.5 sen per share.

The block of shares changed hands at a 13 sen or 29% discount over today’s closing of 44.5 sen

ARB Bhd sees 3.93% stake traded off-market

While Kenanga Research is making no changes to its forecasts and target price for Oppstar following news of its tie-up with Samsung, it notes that investors are willing to pay premium valuations for integrated circuit designers collaborating with semiconductor foundries.

MORNING CALL: 3/5/24

The Internal Revenue Service said it plans to sharply increase audit rates for big corporations, partnerships and multimillionaires over the next three years as it ramps up enforcement spending and hiring to boost collections.

Releasing an update of its strategic operating plan for spending $60 billion in funding from the 2022 Inflation Reduction Act, the IRS said it was targeting a near tripling of the audit rate on corporations with assets over $250 million to 22.6% in the 2026 tax year from 8.8% in 2019.

US IRS targets sharply higher audit rates on big firms, partnerships, millionaires

Bond traders pulled forward expectations for the Federal Reserve’s first full interest-rate cut by a month to November ahead of a key US jobs report on Friday.

The recalibration came amid the best two-day rally for short-end Treasuries since January, following the central bank’s latest policy meeting on Wednesday.

Traders pull forward first full Fed Rate cut to November ahead of jobs

Equities in Asia were set for early gains after stocks and bonds rallied on Wall Street Thursday, ahead of crucial US jobs data due later Friday.

Share futures for Australia and Hong Kong edged higher after the S&P 500 rose 0.9% and tech-heavy Nasdaq 100 climbed 1.3%. Markets in Japan and mainland China are closed Friday for a holiday.

Asian stocks to rise as tech lifts Wall Street

Coinbase Global Inc. posted higher-than-forecast first-quarter revenue and profit as a resurgence in cryptocurrency prices reawakened demand from individual investors. 

Revenue more than doubled to $1.58 billion, topping the $1.32 billion average estimate of analysts surveyed by Bloomberg.

Coinbase’s first-quarter profit, revenue top forecasts

Apple's quarterly results and forecast beat modest expectations on Thursday, as the iPhone maker unveiled a record share buyback program, sending its stock up almost 7% in extended trade.

Apple increased its cash dividend by 4% and authorized an additional program to buy back $110 billion of stock.

Apple unveils record $110 billion buyback as results beat low expectations

Ankara (May 3) : Turkey stopped all exports and imports to and from Israel as of Thursday, the Turkish trade ministry said, citing a "worsening humanitarian tragedy" in the Palestinian territories.

"Export and import transactions related to Israel have been stopped, covering all pr...

Turkey halts all trade with Israel, cites worsening Palestinian situation

(May 3): Fresh data on the Federal Reserve’s various accounts hints at two potential ways Japanese policy makers may have funded currency interventions this past week to bolster the beleaguered yen. 

One source may have been a Fed facility where central banks stash overnight c...

Market hunts for signs of Japan Yen intervention in Fed accounts

(May 3): The rally in tech heavyweights extended into late hours after better-than-estimated results from Apple Inc., with the iPhone maker also raising its dividend and announcing plans to buy back more stock.

A $250 billion exchange-traded fund tracking the Nasdaq 100 powered hig...

Tech jumps in late hours on Apple’s solid outlook

Wall Street's main indexes advanced on Thursday, a day after the Federal Reserve left interest rates unchanged and signaled a dovish tilt, with focus moving to a crucial job report later in the week.

While Fed Chair Jerome Powell indicated that stubbornly high inflation would see a long-expected US rate cut pushed back, he refused to entertain talk that rates might actually need to go up again.

Wall Street gains on Fed's dovish signals

<p>Ajinomoto (M) Bhd’s RM2.12 special dividend announced in July last year in conjunction with a land disposal exercise will go ex on May 15.</p>


Ajinomoto’s special dividend of RM2.12 goes ex on May 15

<p>KUALA LUMPUR (May 2): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:</p>

<p><strong>Yinson Holdings Bhd</strong> has closed the limited recourse term loan facility of up to US$1.3 billion (RM6.2 billion) for the financing of its Ago...

Yinson, Protasco, LCTitan, Westports, UOA REIT, Frontken, Pasukhas, BHIC, JAKS, Epicon, Sarawak Cable, Annum, Aldrich, Ajinomoto, Ageson and SMI

<p>DBS Group Holdings Ltd was hit by renewed disruptions to its Internet banking and payment services in Singapore on Thursday, days after a six-month ban by the island’s central bank over similar glitches ended.</p>


Singapore DBS’ digital services hit days after MAS ban ends

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EVENING 5: Five things you need to know today

<p>Loss-making Annum Bhd said on Thursday it has received a show-cause notice from Bursa Malaysia over the company's failure to issue its annual report for the financial period ended June 30, 2023 (FY2023), which was due on Oct 31, 2023.</p>


Annum still fails to issue annual report after landing auditor following 31 rejections; hit by Bursa show-cause notice

<p>Former attorney general Tan Sri Mohamed Apandi Ali's special officer could have won her defamation suit against Sarawak Report editor Clare Rewcastle-Brown, if not for a technicality — that all court pleadings must be filed in Bahasa Melayu, according to the High Court judicial commissioner who presided over the case.</p>


Court says Apandi's former aide could have won defamation suit against Sarawak Report editor if not for a technicality

<p>Datuk Seri Anwar Ibrahim on Thursday reprimanded the Immigration Department over congestion issues at the country’s borders, particularly in airports.</p>

<p>Describing the rebuke as akin to "parental love" to improve congestion issues at counters handling entry of tourists, the prime minister said tourists would not accept excuses for delays, and hoped the issue could be dealt with effectively.</p>


PM rebukes Immigration Dept over tourist entry congestion

<p>Boustead Heavy Industries Corp Bhd (BHIC), which is 64.99%-indirectly owned by the Armed Forces Fund Board (LTAT), has secured a contract worth RM43.6 million from the Ministry of Defence for the in-service support for its Royal Malaysian Navy Prime Minister Class submarines.</p>


BHIC secures RM43 mil contract for navy submarine in-service support

<p>Chinese President Xi Jinping heads to Europe for the first time in five years next week in a visit that may lay bare European divisions over trade with Beijing and how the continent positions itself as a pole between the United States and China.</p>


Xi's trip to Europe may lay bare West's divisions over China strategy

<p>South Malaysia Industries Bhd (SMI) has appointed Leow Thang Fong as its new chief executive officer, effective May 1, two months after a group of shareholders rejected him from being re-elected executive director at its annual general meeting (AGM).</p>


SMI makes Leow Thang Fong CEO after his reappointment as ED rejected at AGM

<p>Aldrich Resources Bhd said it is reconsidering an earlier plan to diversify into dolomite and gold mining, and has suspended these operations for the time being.</p>


Aldrich Resources suspends mining venture after one year

<p>Prime Minister Datuk Seri Anwar Ibrahim held a closed-door meeting on Thursday with Kelantan Menteri Besar Datuk Mohd Nassuruddin Daud regarding the development of the state.</p>

<p>It is understood that the briefing on this matter was delivered by Mohd Nassuruddin</p>


Anwar holds closed-door meeting with Kelantan MB

<p>The Federal Government agrees with the Kelantan government's proposal to extend the runway at the Sultan Ismail Petra Airport by 400 metres for it to become an international airport.</p>

<p>Prime Minister Datuk Seri Anwar Ibrahim said he had asked Transport Minister Anthony Loke Siew Fook to expedite the ongoing construction of the airport.</p>


Sultan Ismail Petra Airport to be upgraded as international airport — Anwar

<p>Equities in Asia were set for early gains after stocks and bonds rallied on Wall Street Thursday, ahead of crucial US jobs data due later Friday.</p>

<p>Share futures for Australia and Hong Kong edged higher after the S&amp;P 500 rose 0.9% and tech-heavy Nasdaq 100 climbed 1.3%. Markets in Japan and mainland China are closed Friday for a holiday.</p>


<p>The number of Americans filing new claims for unemployment benefits held steady at lower levels last week as the labour market remains fairly tight.</p>

<p>Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 208,000 for the week ended April 27, the Labor Department said on Thursday.</p>


US weekly jobless claims unchanged; layoffs decline in April

<p>(May 3): The rally in tech heavyweights extended into late hours after better-than-estimated results from&nbsp;Apple Inc., with the iPhone maker also raising its dividend and announcing plans to buy back more stock.</p>

<p>A $250 billion exchange-traded fund tracking the Nasdaq 100 powered hig...

<p>The Penang government plans to hold a workshop with stakeholders to finalise the Penang Mutiara Line Light Rail Transit (LRT) Project following minor amendments to the original plan.</p>

<p>Chief Minister Chow Kon Yeow said the workshop is expected to be held within a week or two so that further work involving the transformative infrastructure project can be carried out.</p>


Penang to hold workshop with stakeholders to finalise Mutiara Line LRT alignment

<p>Technical and Vocational Education and Training (TVET) programmes are set to be enhanced to address the shortage of 30,000 engineers in the country, said Prime Minister Datuk Seri Anwar Ibrahim.</p>

<p>He also emphasised the importance of focusing on Artificial Intelligence (AI) technology to keep pace with current demands.</p>


TVET in Malaysia to be enhanced to address shortage of 30,000 engineers — PM

<p>Ageson Bhd said Virdos Lima Consultancy (M) Sdn Bhd (VL Consultancy) is in the final stage of completing its independent assessment report on the matters raised by its external auditor in its financial statements for the 18-month financial period ended Dec 31, 2022 (FPE2022).</p>


Ageson says independent review of audit issues raised by its auditor now in final stages

<p>Prime Minister Datuk Seri Anwar Ibrahim said he has encouraged Japan and Qatar to explore investment opportunities in Kelantan.</p>

<p>As the country's leader, he said that he will always strive to help develop all states in Malaysia.</p>
