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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: Axiata loses its captain</p></div>
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<div class=newsTextDataWrapInner><p>Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>1. Axiata Group Bhd’s president and group CEO Datuk Izzaddin Idris will <a href="https://www.theedgemarkets.com/article/axiata-president-and-group-ceo-izzaddin-idris-step-down-dr-hans-wijayasuri-and-vivek-sood" target="_blank">step down</a> at the end of the month.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>2. Petronas Chemicals Bhd posted a <a href="https://www.theedgemarkets.com/article/petronas-chemicals-1q-net-profit-rm208b-rm146b-year-earlier" target="_blank">record </a>high quarterly net profit on the back of strong demand for its products.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>3. A one-off sale of land helped to <a href="https://www.bursamalaysia.com/market_information/announcements/company_announcement/announcement_details?ann_id=3262958" target="_blank">boost </a>Boustead Group’s 1QFY22 earnings almost seven-fold.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>4. Bursa Malaysia <a href="https://www.theedgemarkets.com/article/bursa-suspends-power-root-short-selling-after-sharp-share-price-drop" target="_blank">suspended </a>short selling on Power Root Bhd after a precipitous drop in its<a href="https://www.theedgemarkets.com/article/kwap-buys-more-shares-power-root" target="_blank"> share price</a>. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>5. McDonald’s Malaysia says it is facing operating costs and that it will continue to <a href="https://www.theedgemarkets.com/article/mcdonalds-malaysia-make-impactful-decisions-amid-higher-operating-cost" target="_blank">assess </a>the situation to make impactful and effective business decisions.&nbsp;</p></div>


EVENING 5: Five things you need to know today 

The Malaysian Communications and Multimedia Commission (MCMC) has been instructed to track down and take action against the owner of the TikTok account @janggut_putih, who is suspected of uploading content containing defamatory material.

Fahmi directs MCMC to act against TikTok user for uploading slanderous content

Nissan Motor Co will use gigacasting, a manufacturing process pioneered by Tesla Inc, to make part of its electric vehicles (EVs) as the automaker joins global rivals in pursuing the innovation to cut costs.

Nissan looking at building cheaper EVs like Tesla

BEIJING (April 16): China's central city of Zhengzhou has asked residents to sell their second-hand homes to a local state-owned company and buy new ones instead, in a bid to reduce new-home inventories and boost the local property sector.

Local state state-owned company Zhengzhou Urban...

Chinese city Zhengzhou tells state-owned company to buy second-hand homes to reduce new housing inventories

European Commission President Ursula von der Leyen is unleashing a barrage of trade restrictions against China as she seeks to follow through on a pledge to make the EU a more relevant political player on the global stage.

EU goes on China trade offensive after getting ‘played’ 

MIDF Research expects crude palm oil (CPO) prices to moderate in the second quarter of 2024 (2Q2024), yet predicts a month-on-month (m-o-m) increase of 4.6% to RM4,410.5 per tonne in April due to mild El Niño events.

MIDF sees CPO price moderation in 2Q

A tumbling yen is spurring traders to game plan how much further Japan’s beleaguered currency can fall even with the specter of intervention looming.

Yen traders brace for 160 level as BOJ hints of intervention 

Britain’s unemployment rate rose unexpectedly to the highest in six months as the number of jobs in the economy shrank, an indication that the once red-hot labour market.

UK unemployment jumps to six-month high after economy cools

Apple Inc CEO Tim Cook said on Tuesday in Hanoi the US tech giant wanted to boost its investment in Vietnam, state media reported.

Apple wants to spend more on suppliers in Vietnam

Grant Bowers, a senior vice-president and portfolio manager at Franklin Equity Group, is excited about the healthcare and industrial sectors.

US healthcare stocks look attractive, says Franklin’s Bowers

Tesla's global job cuts are hitting China, the automaker's biggest market after the US, affecting staff in teams including sales, two sources briefed on the matter said.

Tesla global job cuts hit China sales team — Reuters

<p>The collective wealth of tycoons listed on the 2024 Forbes Malaysia Rich List increased by a modest 2% to US$83.4 billion (RM398.8 billion), according to <i>Forbes Asia</i>.</p>


Wealth of Malaysia’s 50 richest individuals on Forbes list rises 2% — Forbes Asia 

<p>Datuk Abdul Rahman Ahmad will return to Permodalan Nasional Bhd (PNB) as its president and group chief executive effective July 1, 2024, the government-linked investment company said.</p>


CIMB’s Abdul Rahman Ahmad returns to PNB as president, group chief executive

<p>E-government services providers MyEG Services Bhd and HeiTech Padu Bhd have formed a partnership to collaborate on IT projects in Malaysia.</p>

<p>According to separate bourse filings from both companies on Tuesday, MyEG and HeiTech Padu have inked a teaming agreement for the collaboration.&nbsp;</p>


MyEG, HeiTech Padu form partnership to collaborate on IT projects

<p>CIMB Group Holdings Bhd, Malaysia’s second-biggest banking group by assets, said on Tuesday its chief executive Datuk Abdul Rahman Ahmad will step down on June 30.</p>


CIMB says CEO Abdul Rahman Ahmad stepping down on June 30

<p>Alliance Bank Malaysia Bhd’s (ABMB) net profit is expected to jump by 37.3% year-on-year (y-o-y) to RM179 million for the fourth quarter ended March 31, 2024 (4QFY2024), according to AmInvestment Bank Research.</p>


AmInvestment sees Alliance Bank’s 4Q earnings jump by 37% y-o-y

<p>Asian stocks sank and the dollar climbed to more than five-month highs on Tuesday as stronger-than-expected US retail sales for March further reinforced expectations that the Federal Reserve is unlikely to be in a rush to cut interest rates this year.</p>


Asian shares slide on US rate cut rethink, Middle East worries

<p>The automotive industry is not exactly the place one would want to be in the next few years.</p>

<p>Competition among manufacturers of internal combustion engine vehicles, battery electric vehicles (EVs) and hybrid cars has been ongoing for more than a decade now. Last year, some certainty fin...

Alternative Views: Automotive industry feels heat from intensifying EV price war

<p>Singapore’s Prime Minister Lee Hsien Loong is stepping down on May 15 after two decades in office. Lee, 72, will hand the reins over to his deputy Lawrence Wong, 51, in a widely-telegraphed transition.</p>


What observers are saying as Singapore’s Lee paves way for next PM Wong

<p>China said it believed Iran could "handle the situation well and spare the region further turmoil" while safeguarding its sovereignty and dignity, referring to an attack on Iran's embassy in Syria and its retaliatory strike over the weekend.</p>


Iran able to 'handle situation' and spare Middle East more tension, China's foreign minister says

<p>Carlo Rino Group Bhd has filed for an initial public offering (IPO) that would raise more funds for the apparel company as part of its listing transfer to the ACE Market from the LEAP Market.</p>


Carlo Rino files draft prospectus for listing transfer to ACE Market

<p>The Ministry of Transport clarified on Tuesday that the higher contract value of RM190.01 million awarded to HeiTech Padu Bhd for Road Transport Department (JPJ) services was only due to a longer extended contract duration.</p>


Loke: Higher contract value awarded to HeiTech Padu due to longer extended duration

<p>Bursa Malaysia ended the morning session lower on Tuesday, in tandem with the weaker regional performance due to a broad sell-off on Wall Street overnight, said an analyst. &nbsp;</p>


Bursa ends morning session lower along with regional peers

<p>KTI Landmark Bhd (KTI) has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Bhd.</p>

<p>In a statement on Tuesday, the Sabah-based integrated property developer said the initial public offering (IPO) comprises a public issue of 160 million new shares and an offer for sale of 45 million existing shares, representing 20% and 5.6% of the enlarged share capital of KTI respectively.</p>


KTI Landmark inks underwriting deal with M&A Securities en route to ACE Market listing

<p>RHB Retail Research said Cosmos Technology International Bhd has confirmed a bullish setup after breaking past a key resistance on strong volume.</p>


Cosmos Technology has confirmed bullish setup, says RHB Retail Research 

<p>Former prime minister Tan Sri Muhyiddin Yassin has requested for a bench of five Court of Appeal (COA) judges to hear his review against the court’s own decision to reinstate abuse of power charges involving RM232.5 million against him.</p>


Muhyiddin seeks five-judge bench to hear criminal charges review

<p>Analysts are positive on Malaysia’s pilot green power exports to Singapore using existing infrastructure in both countries, following establishment of the platform enabling cross-border trading of green electricity, the Energy Exchange Malaysia (Enegem).</p>


Analysts positive on pilot green power exports to Singapore; name Tenaga, YTLP as top picks

<p>RHB Retail Research said Notion VTec Bhd is looking to extend upside movement after staging a bullish breakout.</p>


Notion VTec aiming to extend upside movement — RHB Retail Research 

<p>The Ministry of Transport (MOT) has not been informed of any corporate deal involving Malaysia's biggest port operator MMC Port Holdings Sdn Bhd, said its Minister Anthony Loke Siew Fook.</p>


MOT unaware of potential MMC Port stake sale to foreign investors, says Loke

<p>Shares of EP Manufacturing Bhd (EPMB) climbed on Tuesday and may be set for its best day in ten months after the auto parts maker signed a 10-year vehicle assembly deal with a Chinese carmaker.</p>


EP Manufacturing shares chart best day in ten months after assembly deal

<p>There is "no urgency" to cut US interest rates, Mary Daly, the president of the San Francisco Federal Reserve Bank, said on Monday, with the economy and labour market strong, and inflation still above the Fed's target of 2%.</p>
