<div class=newsTextDataWrapInner><p dir="ltr">Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.</p></div>

<div class=newsTextDataWrapInner><p>1. Prime Minister Tun Dr Mahathir Mohamad has launched the <a href="https://www.theedgemarkets.com/national-automotive-policy-2020-reports" target="_blank">National Automotive Policy 2020</a>, which has one eye on the future and some elements of the past.&nbsp;&nbsp;</p></div>

<div class=newsTextDataWrapInner><p dir="ltr">2. Telekom Malaysia Bhd <a href="https://www.theedgemarkets.com/article/tm-posts-net-loss-rm5109m-4q-declares-10-sen-dividend" target="_blank">slid into the red</a> for its 4Q even as FY19 improved, and its CEO warns that it is only going to get <a href="https://www.theedgemarkets.com/article/tm-expects-5-revenue-decline-2020-citing-challenging-environment" target="_blank">tougher</a>.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p dir="ltr">3. Axiata Group Bhd<a href="https://www.theedgemarkets.com/article/axiata-delivers-record-earnings-fy19-shifting-gear-focus" target="_blank"> bounced back</a> after a tough year that it spent mostly cleaning house as it plans for its <a href="https://www.theedgemarkets.com/article/axiata-plans-rm66b-capex-2020-says-no-rush-list-edotco" target="_blank">future</a>.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p dir="ltr">4. The High Court has <a href="https://www.theedgemarkets.com/article/court-throws-out-scomi-groups-bid-stop-lenders-taking-over-shares-scomi-energy" target="_blank">thrown out</a> Scomi Group Bhd’s application to stop a share transfer that would result in new shareholders.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p dir="ltr">5. The Securities Commission Malaysia announced that conservative funds under the Private Retirement Scheme can now <a href="https://www.theedgemarkets.com/article/private-retirement-scheme-funds-allowed-invest-foreign-markets-and-alternative-investment" target="_blank">invest in foreign markets and alternative investments</a>.&nbsp;</p></div>


Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.

1. Prime Minister Tun Dr Mahathir Mohamad has launched the National Automotive Policy...

EVENING 5: Five things you need to know today 

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

The presence of and commitment shown by the Unity Government party machinery campaigning in the Kuala Kubu Baharu (KKB) state by-election to ensure victory for its candidate is clear proof of the government's integrity.

KKB polls: Presence of party machinery is proof of Unity Government's togetherness — Zambry

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.

He also emphasised the importance of focusing on Artificial Intelligence (AI) technology to keep pace with current demands.

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

KUALA LUMPUR (May 2): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Yinson Holdings Bhd 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

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).

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

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.

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.

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

Prime Minister Datuk Seri Anwar Ibrahim said he has encouraged Japan and Qatar to explore investment opportunities in Kelantan.

As the country's leader, he said that he will always strive to help develop all states in Malaysia.

PM encourages Japan, Qatar to explore investment in Kelantan

The options market is betting that stocks will swing widely after Friday’s US jobs report, which traders expect will offer more clarity on how much the Federal Reserve may cut interest rates this year.

The S&P 500 Index is expected to move 1.2% in either direction after the release, based on the cost of at-the-money puts and calls expiring Friday, according to Stuart Kaiser, Citigroup Inc’s head of US equity trading strategy. That figure, based on the prices of S&P straddles as of Wednesday’s close, is the largest implied swing ahead of an employment report since March 2023, he said.

Options traders brace for biggest S&P jobs-day swing in a year

Bill Gross, who pioneered the “total return” strategy in the 1980s that revolutionized the bond market, says the approach is now defunct.

Bill Gross says ‘total return’ strategy he pioneered is ‘dead’

The High Court on Thursday upheld the conviction and 12-year prison sentence against Rumah Bonda founder Siti Bainun Ahd Razali for neglecting and abusing Bella, a teenage girl with Down’s syndrome.

Bella case: High Court upholds Siti Bainun's conviction and sentence  

<p>Mechanical and electrical engineering services provider Pasukhas Group Bhd has secured a RM56.98 million contract to build a data centre in Selangor.</p>


Pasukhas secures RM57m contract from US company to build data centre in Selangor 

<p>The El Nino phenomenon hitting the country is expected to continue for the next two months, said Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.</p>


El Nino to last two more months; 2024 could be Malaysia’s hottest year — Nik Nazmi 

<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

<p>Construction outfit and bus operator Epicon Bhd will exit Practice Note 17 (PN17) status on Friday following the completion of its regularisation plan.</p>


Epicon, formerly Konsortium Transnasional, exits PN17 status

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EVENING 5: Five things you need to know today

<p>Lotte Chemical Titan Holdings Bhd (LCTitan) logged a net loss of RM178.03 million in the first quarter ended March 31, 2024 (1QFY2024), making the group's eighth straight loss-making quarter.</p>


LCTitan posts 8th straight quarterly loss ahead of planned plant turnaround

<p>Surface engineering service provider Frontken Corp Bhd recorded a 27.4% jump year-on-year (y-o-y) in its net profit for the first quarter ended Mar 31, 2024 (1QFY2024) to RM30.05 million, from RM23.58 million last year, mainly due to improved revenue and better profit margin.</p>


Frontken kicks off FY2024 with 27% jump in net profit on improved revenue, better profit margin 

<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>JAKS Resources Bhd's unit has signed a memorandum of understanding (MOU) with China-based CALB Group Co Ltd to explore opportunities in the battery energy storage system (BESS) market, with a particular focus on the Southeast Asia region.</p>


JAKS partners CALB to tap into SE Asia's battery energy storage systems market

<p>Sarawak Cable Bhd (SCB) has once again obtained a time extension to submit its Practice Note 17 (PN17) regularisation plan from Bursa Malaysia.</p>

<p>The deadline has now been extended by another six months to Sept 30 from March 31, its bourse filing on Thursday showed. The original deadline was Nov 1, 2023.</p>


Sarawak Cable gets another time extension to submit PN17 exit plan

<p>India's palm oil imports jumped by 41% in April from the previous month to reach the highest level in three months, as easing prices prompted refiners to increase purchases, five dealers told <em>Reuters</em>.</p>


India's April palm oil imports jump 41% to three-month high, say dealers

<p>UOA REIT, a trust which mainly manages commercial properties, said its net rental income fell 12.7% in its quarter ended March 31, 2024 (1QFY2024) due to lower occupancy rates and higher property operating expenses.</p>


UOA REIT’s net rental income drops 13% in 1Q as its properties record lower occupancy rates

<p>Hong Kong’s world-beating stock rally is showing no signs of letting up, with the city’s currency peg to the greenback burnishing its haven appeal amid the threat of higher-for-longer US interest rates.</p>


Hong Kong stocks march into bull market as global money returns

<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>Cocoa prices dropped again, extending a week of extreme volatility as liquidity dries up and commercial buyers hold back from buying beans.&nbsp;</p>


Cocoa slumps again as buyers hold back in troubled market

<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>A former Hong Kong-based Societe Generale SA (SocGen) trader claimed he was fired and said the French lender should share the blame for failing to detect his wagers.</p>


Ex-SocGen trader says he was fired after bank failed to detect his bets

<p>Hong Kong's securities regulator started an insider dealing prosecution against hedge fund Segantii Capital Management, its founder and a former trader, the watchdog said on Thursday.</p>

<p>The Hong Kong Securities and Futures Commission (SFC) said it had started criminal proceedings against Segantii, its founder and chief investment officer Simon Sadler, and former trader Daniel La Rocca for insider dealing in the shares of a Hong Kong-listed company prior to a block trade in June 2017.</p>


Insider dealing charges brought against Segantii and its founder in Hong Kong

<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>In China, electric carmakers are offering up luxury tech <span jsslot=""><span>—</span></span> without the luxury price tag <span jsslot=""><span>—</span></span> in the battle for buyers. Cars are being loaded with once-expensive interior features and technology for as low as US$20,000 (RM95,335) <span jsslot=""><span>—</span></span> less than half the cost of the average new car in the US.</p>
