<div class=newsTextDataWrapInner>KUALA LUMPUR (Jan 18): Crest Builder Holdings Bhd has clinched a RM149.50 million contract to build a 44-storey hotel with a car park podium at Jalan Imbi here.</div>

<div class=newsTextDataWrapInner>In a filing with Bursa Malaysia, Crest Builder said its wholly-owned subsidiary Crest Builder Sdn Bhd secured the contract from Mega Capital Development Sdn Bhd.</div>

<div class=newsTextDataWrapInner>The contract spans 39 months from Jan 12 this year.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>The group said the contract will begin to contribute positively to its earnings from the financial year ending Dec 31, 2018 and onwards.</div>

<div class=newsTextDataWrapInner>Crest Builder’s share price rose one sen or 1.12% to close at 90.5 sen today, giving it a market capitalisation of RM151.92 million.</div>

KUALA LUMPUR (Jan 18): Crest Builder Holdings Bhd has clinched a RM149.50 million contract to build a 44-storey hotel with a car park podium at Jalan Imbi here.

In a filing with Bursa Malaysia, Crest Builder said its wholly-owned subsidiary Crest Builder Sdn Bhd secured the contract fro...

Crest Builder gets RM149.5m hotel building job

A US warship sailed through the narrow Taiwan Strait on Wednesday, less than two weeks before Taiwan's new president takes office, prompting an angry denunciation from Beijing.

US sends warship through Taiwan Strait ahead of presidential inauguration

UOB KayHian has initiated coverage on Lagenda Properties Bhd (KL: LAGENDA) with a “buy” rating at RM1.49 and target price (TP) of RM2.05.

UOB KayHian starts coverage on Lagenda Properties, target price RM2.05

China and Serbia on Wednesday agreed to follow a "shared future" as President Xi Jinping visited the Balkan country as part of his bid to forge stronger relations with allies at the edge of the European Union.

China, Serbia chart 'shared future' as Xi Jinping visits Europe

Gen Zers risk starting further and further behind previous generations building a life for themselves as soaring rents chew into their disposable income, leaving them deeper in a financial hole they are still digging, said Fortune.

Gen Z sinking deeper into debt as higher education and housing costs weigh, new data shows — report

President Joe Biden on Wednesday publicly warned Israel for the first time that the US would stop supplying it weapons if Israeli forces make a major invasion of Rafah, a refugee-packed city in southern Gaza.

Biden says US will withhold weapons from Israel if it invades Rafah

(May 9): Opulent, elevated, expensive. There are plenty of descriptive terms for the A$90 million (US$59 million or RM280.88 million) home perched high in Crown Resorts Ltd’s twisting skyscraper in Sydney. “Sold” is not one of them.

The chrome-heavy duplex has been on the market since a...

Luxury US$59m Sydney home remains unsold as rich Chinese buyers leave

A Wall Street analyst has pointed out there's a gaping hole in the picture. He calls it "phantom debt" — spending on "buy now, pay later" (BNPL) platforms, which often goes unrecorded by credit agencies, Fortune reported.

‘Phantom debt’ from ‘buy now, pay later’ schemes a US$700b black hole economists aren’t accounting for — report

Apex Securities Bhd expects the local bourse to continue to trend sideways following the FBM KLCI’s retreat after hitting the 1,600 resistance level amid weakened sentiment across global stock markets and investors awaiting fresh catalysts.

Apex Securities expects local bourse to continue to trend sideways 

British bank TSB, owned by Spain's Sabadell, is seeking 250 job cuts and 36 branch closures, a spokesperson for the bank and employee union Unite said on Wednesday, as the lender accelerates a restructuring push to save costs.

Sabadell's UK bank TSB plans new job cuts, branch closures

Singapore must be realistic about the global trends affecting its equities market and what can be done about them, according to Deputy Prime Minister Lawrence Wong.

Singapore must recognise stock-market challenges, Wong says

KUALA LUMPUR (May 8): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

Sentral Real Estate Investment Trust (KL:SENTRAL), or Sentral REIT, posted a 30.29% increase in its net property income in the first quart...

Sentral REIT, Vstecs, Dufu Tech, MNRB, Mega First,  Ivory Properties, Paragon Globe and Sarawak Cable

Pharmaniaga Bhd’s (KL:PHARMA) has been flagged by its independent auditors again, as its current deficit and capital deficiency for the financial year ended Dec 31, 2023 (FY2023) widened from a year ago.

Messrs PricewaterhouseCoopers PLT (PwC) raised material uncertainty on the Pharmaniaga whereby its audit indicated that the group and the company incurred net losses of RM78.7 million and RM63.3 million respectively.

Pharmaniaga’s auditors raise going concern issue again as current deficit, capital deficiency widen

Sarawak Cable Bhd (KL:SCABLE) has to go back to the drawing board and look for a new white knight to regularise its financials.

The Practice Note 17 (PN17) company announced that the Memorandum of Agreement it entered with Serendib Capital Ltd has fallen through.

Sarawak Cable needs a new white knight as 'resuscitation exercise' falls through

The Malaysian Anti-Corruption Commission (MACC) arrested a lawyer on Wednesday afternoon on suspicions of soliciting and accepting a bribe of around RM1.6 million from an entrepreneur.

The suspect, who is in his 30s, was arrested at a fast food restaurant around Ipoh, Perak at around 12 noon after receiving RM100,000 in cash and two cheques for RM1.5 million, a source said.

MACC arrests lawyer for soliciting, accepting RM1.6 mil bribe

KUALA LUMPUR (May 9): All eyes will be on Bank Negara Malaysia (BNM) as the central bank is set to announce its overnight policy rate (OPR) decision later on Thursday afternoon.

A Bloomberg poll showed that all 24 economists it surveyed are expecting BNM to keep the OPR unchang...

Economists bet on BNM leaving the OPR unchanged later today

The Malaysian Anti-Corruption Commission (MACC) has arrested a company director and a law firm owner on suspicion of submitting false information related to foreign currency investments, totalling approximately RM38 million.

Company director, law firm owner detained over RM38 million investment case — MACC

Annum Bhd (KL:ANNUM), formerly known as Cymao Holdings Bhd, has been categorised a Practice Note 17 (PN17) company as its new external auditor&nbsp;Messrs SBY Partners PLT expressed a disclaimer of opinion on its audited financial statements for the 18 months ended June 30, 2023, after they failed to obtain sufficient evidence to verify the group's assets.

Annum slips into PN17 after auditor says it can't vouch for company's financials

The Dow Jones Industrial Average ended higher on Wednesday, stretching its winning streak to six straight and closing above 39,000 points for the first time in five weeks, as investors kept betting on supportive US monetary policy.

Dow ends higher for sixth session, but Treasury yields pressure market

Ni Hsin Group Bhd’s (KL:NIHSIN) wholly-owned subsidiary, Ni Hsin EV Tech Sdn Bhd (NH EV Tech), on Wednesday launched two high-powered electric motorcycles, TC Max and CPx PRO, featuring MotoGP legend, Jorge Lorenzo.

Ni Hsin unveils two electric motorcycles, featuring MotoGP legend Jorge Lorenzo

An entrepreneur was fined RM80,000 by the Kuala Lumpur Sessions Court on Tuesday for using unauthorised communications equipment known as an ‘SMS Blaster’, which caused serious disruption to network and cellular services.

Entrepreneur fined RM80,000 for using unauthorised SMS Blaster

Global equity markets mostly faltered on Wednesday as investors await fresh inflation data to better assess the likelihood of Federal Reserve (Fed) interest rate cuts, while the dollar edged higher on expectations of US economic out-performance.

Stocks slip, dollar gains as market awaits inflation data

UOB KayHian has initiated coverage on Lagenda Properties Bhd (KL: LAGENDA) with a “buy” rating at RM1.49 and target price (TP) of RM2.05.

Apex Securities Bhd expects the local bourse to continue to trend sideways following the FBM KLCI’s retreat after hitting the 1,600 resistance level amid weakened sentiment across global stock markets and investors awaiting fresh catalysts.

Arm Holdings plc shares tumbled after the chip designer gave a lukewarm revenue forecast for the fiscal year, raising concerns that the tech industry’s artificial intelligence (AI) spending spree is slowing.

Arm shares fall after company gives tepid annual forecast

Gen Zers risk starting further and further behind previous generations building a life for themselves as soaring rents chew into their disposable income, leaving them deeper in a financial hole they are still digging, said Fortune.

Vacation rental company Airbnb reported a higher quarterly profit on Wednesday but forecast second-quarter revenue below Wall Street expectations, sending shares of the company down 8% after the bell.

Airbnb forecasts weaker 2Q revenue despite robust demand for international travel

Intel said on Wednesday its sales would take a hit after the US revoked some of the chipmaker's export licences for a customer in China, in a move Beijing complained was going too far in the name of national security.

Intel, Qualcomm say exports to China blocked as Beijing objects

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives snapped two consecutive days of gains to end lower on Wednesday, said a dealer.

Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the weakness in the Chicago Board of Trade (CBOT) soybean oil futures during Asian trading hours and the Malaysian Palm Oil Association’s (MPOA) estimates weighed down CPO prices.

CPO futures snaps two-day winning streak to end lower

Keretapi Tanah Melayu Berhad (KTMB) will provide two electric train services (ETS) for the Padang Besar- KL Sentral route and vice versa in conjunction with this year's first-term school holidays from May 24 till June 3.

KTMB in a statement on Wednesday announced that the additional train tickets will go on sale at 8pm on Thursday (May 9).

KTMB will provide two additional ETS services ahead of first-term school holiday

(May 9): Opulent, elevated, expensive. There are plenty of descriptive terms for the A$90 million (US$59 million or RM280.88 million) home perched high in Crown Resorts Ltd’s twisting skyscraper in Sydney. “Sold” is not one of them.

The chrome-heavy duplex has been on the market since a...