<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on November 5, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: DRB-Hicom Bhd said it had made a lodgement with the Securities Commission Malaysia for the establishment of a 30-year Islamic medium-term note programme of up to RM3.5 billion in nominal value.</p></div>

<div class=newsTextDataWrapInner><p>“The sukuk wakalah programme has been assigned a preliminary rating of A+IS with a positive outlook by the Malaysian Rating Corp Bhd.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“This outlook revision to positive considers DRB-Hicom’s improved consolidated credit profile through streamlining businesses by divesting investments and non-core assets and in improving operating margins and strengthening the liquidity position,” said the group.</p></div>

<div class=newsTextDataWrapInner><p>DRB-Hicom said the programme’s proceeds will be used to refinance the group’s existing borrowings, for capital expenditure and working capital requirements and to pay all fees and expenses in connection with the sukuk wakalah programme.</p></div>

<div class=newsTextDataWrapInner><p>It said the group is embarking on a financing exercise to take advantage of the current favourable interest rate environment. DRB-Hicom’s share price rose one sen or 0.4% to RM2.48 yesterday, with a market capitalisation of RM4.79 billion.</p></div>


KUALA LUMPUR: DRB-Hicom Bhd said it had made a lodgement with the Securities Commission Malaysia for the establishment of a 30-year Islamic medium-term note programme of up to RM3.5 billion in nominal value.

“The sukuk wakalah programme has been assigned a preliminary rating of A+IS wit...

DRB-Hicom to raise up to RM3.5b under sukuk wakalah programme

Malaysia’s biggest port operator Westports Holdings Bhd said on Thursday its net profit rose 11% year-on-year (y-o-y) in the first quarter, thanks to higher container revenue.

Westports' 1Q net profit rises 11% as container revenue climbs

Food ingredients supplier Agricore CS Holdings Bhd said on Thursday it has signed an agreement with M&A Securities to underwrite its initial public offering (IPO) on the ACE Market.

Agricore CS signs underwriting agreement for ACE Market IPO

Former Penang chief minister Lim Guan Eng’s undersea tunnel graft trial on Thursday did not proceed as scheduled because star witness Datuk Zarul Ahmad Mohd Zulkifli is down with vertigo.

Guan Eng's undersea tunnel trial deferred for the day, no warrant of arrest on Zarul Ahmad

Feytech Holdings Bhd looks to raise some RM201.6 million from its initial public offering (IPO) on the Main Market of Bursa Malaysia through the issuance of 252.94 million new shares, with about 43% via offer for sale by existing shareholders, at 80 sen per share.

Feytech Holdings aims to raise over RM201 mil from Main Market IPO at 80 sen apiece 

US software giant Microsoft Corp said on Thursday it would invest US$2.2 billion (RM10.5 billion) over the next four years in cloud and artificial intelligence (AI) infrastructure in Malaysia.

Microsoft to invest US$2.2b in Malaysia over next four years on cloud, AI

Smart Asia Chemical Bhd, an industrial paint and coating manufacturer, on Thursday has begun taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM37.4 million.

Smart Asia Chemical starts taking orders for ACE Market IPO to raise RM37.4 mil

Malaysia's air passenger traffic saw a significant increase year-on-year (y-o-y) in the first quarter of 2024 (1Q2024), rising 16.1% to 22.6 million passengers, nearing pre-pandemic levels, according to the Malaysian Aviation Commission (Mavcom).

Malaysia's air passenger traffic rose 16.1% in 1Q2024, nearing pre-pandemic levels — Mavcom

Matrix Concepts has unveiled the second phase of Resort Villa in Bandar Sri Sendayan, Seremban.

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New York police officers arrested almost 300 people as they broke up escalating pro-Palestinian protests at two colleges amid an outpouring of anger over the Israel-Hamas war.

New York police arrests over 300 protesters in crackdown on college campuses

Oil and gas exploration and production outfit Hibiscus Petroleum Bhd is looking to leverage the economic boom in the Tok Bali area (in Kelantan) by using it as one of its operating hubs.

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Apex Securities advises investors to subscribe to ACE Market-bound Farm Price with fair value of 42 sen

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<p>US software giant Microsoft Corp said on Thursday it would invest US$2.2 billion (RM10.5 billion) over the next four years in cloud and artificial intelligence (AI) infrastructure in Malaysia.</p>


<p>Shares of Bursa Malaysia Bhd climbed to its highest in more than three years after the stock exchange operator reported better-than-expected results that prompted at least two analyst upgrades.</p>


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<p>Shares of Duopharma Biotech Bhd surged more than 9% during early trade on Thursday following news of the pharmaceutical company securing supply contracts worth RM578.09 million in total.</p>


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<p>Luno, a digital asset exchange (DAX) licensed by the Securities Commission Malaysia, expands its coin offerings with the launch of Cosmos (ATOM) and Polkadot (DOT).</p>


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<p>Latest data signalled further downbeat trends across the Malaysian manufacturing sector at the start of the second quarter of 2024.</p>

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Overall manufacturing conditions in Malaysia ease to lesser extent, says S&P Global

<p>A gauge of global stocks fell on Wednesday while the dollar weakened against a basket of peers after the Federal Reserve (Fed) left interest rates unchanged and indicated it is still leaning toward eventual rate cuts.</p>


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<p>Smart Asia Chemical Bhd, an industrial paint and coating manufacturer, on Thursday has begun taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM37.4 million.&nbsp;</p>


<p>DBS Group Holdings Ltd’s chief executive officer Piyush Gupta expects another year of record profit after Singapore’s biggest lender delivered better-than-expected results thanks to strong lending and wealth fees.</p>


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<p>Alphabet Inc paid Apple Inc US$20 billion (RM95.45 billion) in 2022 for Google to be the default search engine in the Safari browser, according to newly unsealed court documents in the Justice Department’s antitrust lawsuit against Google.</p>


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<p>ExecuJet MRO Services Malaysia, a subsidiary of luxury business aircraft maker Dassault Aviation, inaugurated its new maintenance, repair and overhaul (MRO) facility at Subang Airport on Thursday.</p>


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<p>Apple's plan to add generative artificial intelligence (AI) to its iPhones and revive sagging sales in the crucial Chinese market will be in focus on Thursday, when the tech giant is expected to report its biggest quarterly revenue decline in more than a year.</p>


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<p>The US Federal Reserve (Fed) held interest rates steady on Wednesday and signalled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming.</p>


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<p>Shares of Starbucks fell 15% to their lowest in nearly two years on Wednesday, after the coffee chain cut annual forecasts on persistent weak demand from inflation-weary US customers and a slower-than-expected economic recovery in China.</p>


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<p>The Federal Communications Commission (FCC) is moving to prevent Huawei, ZTE and other foreign companies deemed to pose US national security concerns from certifying wireless equipment, officials told <em>Reuters </em>on Wednesday.</p>


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<p>Feytech Holdings Bhd looks to raise some RM201.6 million from its initial public offering (IPO) on the Main Market of Bursa Malaysia through the issuance of 252.94 million new shares, with about 43% via offer for sale by existing shareholders, at 80 sen per share.</p>


<p>Over the last two years, Wall Street has convinced cautious equity investors to send billions of dollars into exchange-traded funds (ETFs) that use options to goose yields.</p>
