<div class=newsTextDataWrapInner>Flash: CIMB 1Q net profit up 46% on year at RM1.18b</div>
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Flash: CIMB 1Q net profit up 46% on year at RM1.18b
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CIMB 1Q net profit up 46% on year at RM1.18b

Power Root Bhd's subsidiaries have successfully recovered trademark of its own “Ah Huat” brand for coffee and tea beverages, after reaching an amicable out-of-court settlement with its Indonesian distributor CV Ego Sun Star Sukses Mandiri (CV Ego) following an infringement wrangle that started in 2013.

Power Root reclaims ‘Ah Huat’ brand in Indonesia after decade-long trademark tussle 

Urusharta Jamaah Sdn Bhd (UJSB) — a special purpose vehicle established under the Ministry of Finance to rehabilitate, restructure and monetise underperforming assets transferred to it from Lembaga Tabung Haji — has emerged as a substantial shareholder in Prolintas Infra Business Trust.

Urusharta Jamaah emerges as third largest shareholder in Prolintas Infra

A key measure of world indebtedness has resumed its climb as global debt hit a record high of US$315 trillion (RM1.5 quadrillion) in the first quarter of the year, fuelled by borrowing in emerging markets, the US and Japan, a study showed.

Key debt ratio resumes rise as global debt burden hits record US$315 tril, IIF says

Home furniture maker Mobilia Holdings Bhd is planning to issue up to 218.75 million free warrants (Warrants-B), on the basis of one Warrant-B for every four existing shares held by entitled shareholders.

Home furniture maker Mobilia plans one-for-four free warrants

Israel’s move to take control of the Rafah crossing into Egypt has sparked furious debate about its end goal: Is this the start of a long-threatened invasion of the southern Gaza city, or an attempt to pressure Hamas to ease conditions for a cease-fire and the release of hostages?

Israel edges into Rafah with tensions high over deadlocked talks

Apple Inc unveiled a new artificial intelligence-focused iPad Pro and a larger iPad Air, aiming to reinvigorate a tablet lineup that has languished over the past two years.

Apple revamps iPads with AI-focused Pro model, bigger Air

AwanBiru Technology Bhd (Awantec) reported a net profit of RM2.14 million for its third quarter ended March 31, 2024 (3QFY2024), a significant turnaround from the net loss of RM1.99 million it incurred a year ago, as its software and services segment secured major contracts with higher revenue.

Awantec reports profit in 3Q as revenue jumps on new contracts

KUALA LUMPUR (May 7): The strategic cooperation between the Malaysian Investment Development Authority (Mida) and the Ministry of Higher Education (MOHE) is expected to catalyse the country’s industrial growth, especially in supporting the development of more talents at the global level.

Mida’s strategic cooperation with Higher Education Ministry to accelerate local industrial growth — Zafrul

US stock indexes rose on Tuesday, extending their recent run on expectations that the Federal Reserve will cut interest rates this year, while a drop in shares of Walt Disney following the company's quarterly results limited their gains.

Wall Street extends gains as rate-cut hopes linger

BATU KAWAN (May 7): The semiconductor industry presents Malaysia with a once-in-a-generation opportunity for exponential economic growth, and industry players are advised to capitalise on this billion-dollar sector, said Deputy Investment, Trade and Industry Minister Liew Chin Tong on Tuesday.

Semiconductor industry offers Malaysia chance for exponential growth — deputy minister

Malaysian stocks hit RM2 trillion in market capitalisation for the first time ever on Tuesday thanks to broad gains in blue chip stocks and a slew of new listings.

Malaysian stocks’ market capitalisation reaches historical high of RM2 tril

KUALA LUMPUR (May 7): A 47-year-old was confirmed dead while a 26-year-old man suffered serious injuries when a huge tree came crushing down on 17 vehicles along Jalan Sultan Ismail, just outside the Concorde Hotel, during a thunderstorm and heavy rain, at about 2.19pm here Tuesday.

Apa...

One killed, another hurt after fallen tree smashes into cars, monorail track in KL

Sime Darby Plantation Bhd (SDP) is making a foray into green industrial park, starting with the proposed development of the Kerian Integrated Green Industrial Park (KIGIP) in Perak.

Sime Darby Plantation to co-develop Kerian Integrated Green Industrial Park with PNB

Pelaburan Hartanah Bhd (PHB) is to part ways with Maybank Asset Management Sdn Bhd (Maybank AB) to independently manage the funds of its commercial property unit trust, Amanah Hartanah Bumiputera (AHB), as part of its seven-year business plan that aims to increase the fund size from RM5 billion to RM20 billion by 2030.

PHB to independently manage AHB funds, aims to quadruple fund size to RM20 bil

Bursa Malaysia Bhd on Tuesday launched the Bursa Remisier Acquisition Hub (Bursa Reach) platform designed to enhance the connection between dealer representatives and investors.

Bursa Malaysia launches platform for remisiers to showcase portfolio

Prime Minister Datuk Seri Anwar Ibrahim will meet with Petroliam Nasional Bhd (Petronas) this week to discuss the national oil company's project with Saudi Aramco at the Pengerang Integrated Complex (PIC) in Johor.

Anwar to meet with Petronas to discuss project in Pengerang

The Federal Court on Tuesday unanimously dismissed an application by businessman Ricky Wong Shee Kai for leave to appeal the High Court’s decision for him to attend civil court proceedings in person.

Apex court dismisses Ricky Wong’s bid to attend court proceedings remotely

Scoot Pte Ltd, the low-cost carrier of Singapore Airlines Ltd (SIA), commenced operation of its first Embraer E190-E2 aircraft on Tuesday, reiterating the crucial role of Malaysia in its airline operations.

Malaysia remains as key market for low-cost airline Scoot — CEO

Global oil major Shell said on Tuesday that it remains "committed to the mobility business" in Malaysia, after a report that it was in talks with Saudi Aramco to sell its gas stations in the country.

Shell says it remains committed to mobility business in Malaysia

The US sees Iran's capacity to move its oil as reliant on service providers based in Malaysia, with oil being transferred near Singapore and throughout the region, a senior US Treasury official said on Tuesday.

Iran's capacity to move oil reliant on Malaysian providers, US official says

(May 7):&nbsp;Princeton Digital Group secured a US$280 million green loan to help finance a US$1.5 billion data centre it’s building in southern Malaysia, a first for the Asian infrastructure operator as it aims to get that complex operational by June.

Singapore-based Princeton Digital gets green loan for US$1.5b Asia AI hub in Johor

KUALA LUMPUR (May 7): Solar power specialist Pekat Group Bhd said on Tuesday that it has signed a non-binding agreement to acquire a stake in switchgears supplier EPE Switchgear (M) Sdn Bhd to expand its businesses.

Pekat inks agreement to acquire stake in local switchgears supplier

CIMB Group Holdings Bhd, Malaysia’s second-largest bank by assets, will likely see improvements in net interest margin and non-interest income (NII) when it reports its first-quarter results (1QFY2024) on May 31, analysts said.

Analysts see CIMB reporting better net interest margins, non-interest income in 1Q

<h3>Malaysia Smelting Corp Bhd</h3>

Target price: RM3.60 BUY

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Brokers Digest: Local Equities - Malaysia Smelting Corp Bhd, Dialog Group Bhd, Malakoff Corp Bhd, Alliance Bank Malaysia Bhd

The Investment, Trade and Industry Ministry (Miti) has confirmed that an announcement on Google’s investment in Malaysia will be made in the near future.

Announcement on Google's investments in Malaysia soon, says Zafrul

KUALA LUMPUR (May 7): Shares of construction crane manufacturer Favelle Favco Bhd closed at its all time high on Tuesday, after the group clinched four contracts for the supply of offshore and tower cranes.

Favelle Favco shares hit new high on RM39.2 mil contract wins

PUTRAJAYA (May 7): The Malaysian Anti-Corruption Commission (MACC) has revealed that the nation incurred losses totalling RM277 billion as a result of corruption over the past five years.

Malaysia suffered RM277b in loss over five years up to 2023 due to corruption — MACC

LOW-PROFILE company Nextgreen Global Bhd, which is in the business of turning empty fruit bunches (EFB), a byproduct of palm oil mills, into green and sustainable products such as pulp and paper, pulp moulding, fertiliser and animal feed, is now ready to showcase to the world what it can do....

Nextgreen Global scales up operations, turning biomass into green products  

Paris authorities have spent years readying for the almost 2 million international visitors expected for the 2024 Summer Olympics, but they may have overlooked a far bigger phenomenon now coming to the city: Taylor Swift.

Taylor Swift draws five times as many US luxury travellers as the Olympics

Insurance comparison platform BJAK says it acknowledges the "issues" raised by the Road Transport Department (JPJ) and is actively working with the authority to address them.