<div class=newsTextDataWrapInner>Flash: Finance Minister Guan Eng confirms Malaysia's national debt now over RM1 trillion</div>
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Flash: Finance Minister Guan Eng confirms Malaysia's national debt now over RM1 trillion
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Finance Minister Guan Eng confirms Malaysia's national debt now over RM1 trillion

Analysts anticipate continuous growth for Westports Holdings Bhd for the rest of the year on the back of sustained trade activities in the regional economies and multi-year high foreign direct investment (FDI).

Analysts upbeat on Wesports’ outlook amid multi-year high FDI

Lotte Chemical Titan Holding Bhd (LC Titan) is expected to face widening core losses in the second quarter ending June 30, 2024 (2QFY2024) from lower sales volume and weak product spread, according to TA Securities.

Lotte Chemical Titan to face widening losses in 2QFY2024 on lower volume, weak product spread, says TA Securities

Shares of Ajinomoto (Malaysia) Bhd surged to their highest in nearly six years after the food and seasoning company announced the ex-date for its special dividend.

Ajinomoto Malaysia surges to highest in nearly six years

Frontken Bhd expects a stronger performance in the second half of this year (2HFY2024) after its first quarter results came in within expectations, according to Philip Capital.

Frontken expects stronger performance in 2H — Philip Capital

While Kenanga Research is making no changes to its forecasts and target price for Oppstar following news of its tie-up with Samsung, it notes that investors are willing to pay premium valuations for integrated circuit designers collaborating with semiconductor foundries.

MORNING CALL: 3/5/24

The Internal Revenue Service (IRS) said it plans to sharply increase audit rates for big corporations, partnerships and multimillionaires over the next three years as it ramps up enforcement spending and hiring to boost collections.

US IRS targets sharply higher audit rates on big firms, partnerships, millionaires

Bond traders pulled forward expectations for the Federal Reserve’s (Fed) first full interest-rate cut by a month to November ahead of a key US jobs report on Friday.

Traders pull forward first full Fed Rate cut to November ahead of jobs

Equities in Asia were set for early gains after stocks and bonds rallied on Wall Street Thursday, ahead of crucial US jobs data due later Friday.

Share futures for Australia and Hong Kong edged higher after the S&P 500 rose 0.9% and tech-heavy Nasdaq 100 climbed 1.3%. Markets in Japan and mainland China are closed Friday for a holiday.

Asian stocks to rise as tech lifts Wall Street

Coinbase Global Inc posted higher-than-forecast first-quarter revenue and profit as a resurgence in cryptocurrency prices reawakened demand from individual investors.

Coinbase’s first-quarter profit, revenue top forecasts

Apple's quarterly results and forecast beat modest expectations on Thursday, as the iPhone maker unveiled a record share buyback program, sending its stock up almost 7% in extended trade.

Apple unveils record US$110b buyback as results beat low expectations

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

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.

Ajinomoto’s special dividend of RM2.12 goes ex on May 15

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.

Court says Apandi's former aide could have won defamation suit against Sarawak Report editor if not for a technicality

Datuk Seri Anwar Ibrahim on Thursday reprimanded the Immigration Department over congestion issues at the country’s borders, particularly in airports.

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.

PM rebukes Immigration Dept over tourist entry congestion

South Malaysia Industries Bhd (SMI) has appointed Leow Thang Fong as its new chief executive officer, effective May 1, two months after a group of shareholders rejected him from being re-elected executive director at its annual general meeting (AGM).

SMI makes Leow Thang Fong CEO after his reappointment as ED rejected at AGM

Equities in Asia were set for early gains after stocks and bonds rallied on Wall Street Thursday, ahead of crucial US jobs data due later Friday.

Share futures for Australia and Hong Kong edged higher after the S&amp;P 500 rose 0.9% and tech-heavy Nasdaq 100 climbed 1.3%. Markets in Japan and mainland China are closed Friday for a holiday.

The rally in tech heavyweights extended into late hours after better-than-estimated results from&nbsp;Apple Inc, with the iPhone maker also raising its dividend and announcing plans to buy back more stock.

Tech jumps in late hours on Apple’s solid outlook

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

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

Türkiye&nbsp;stopped all exports and imports to and from Israel as of Thursday, the Turkish trade ministry said, citing a "worsening humanitarian tragedy" in the Palestinian territories.

Türkiye halts all trade with Israel, cites worsening Palestinian situation

The Federal Government agrees with the Kelantan government's proposal to extend the runway at the Sultan Ismail Petra Airport by 400 metres for it to become an international airport.

Prime Minister Datuk Seri Anwar Ibrahim said he had asked Transport Minister Anthony Loke Siew Fook to expedite the ongoing construction of the airport.

Sultan Ismail Petra Airport to be upgraded as international airport — Anwar

Prime Minister Datuk Seri Anwar Ibrahim held a closed-door meeting on Thursday with Kelantan Menteri Besar Datuk Mohd Nassuruddin Daud regarding the development of the state.

It is understood that the briefing on this matter was delivered by Mohd Nassuruddin

Anwar holds closed-door meeting with Kelantan MB

Apple's quarterly results and forecast beat modest expectations on Thursday, as the iPhone maker unveiled a record share buyback program, sending its stock up almost 7% in extended trade.

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

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

Blogger Wan Muhammad Azri Wan Deris, or Papagomo, was charged in the Sessions Court here on Thursday with posting seditious articles against His Majesty Sultan Ibrahim, King of Malaysia on his X account.

Wan Muhammad Azri, 41, who is also a former Umno Youth exco member, pleaded not guilty to the charge before Judge Siti Aminah Ghazali.

Papagomo charged with sedition against King

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

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 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&amp;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&amp;P straddles as of Wednesday’s close, is the largest implied swing ahead of an employment report since March 2023, he said.