<div class=newsTextDataWrapInner><p>SINGAPORE (April 19): Funding Societies, the peer-to-peer (P2P) lending platform also known as Modalku in Indonesia, has raised US$25 million (S$32.8 million) in Series B fund.</p></div>

<div class=newsTextDataWrapInner><p>Led by Softbank Ventures Korea, the funding round also includes existing investors Sequoia India, Golden Gate Ventures and Alpha JWC Ventures from Indonesia.</p></div>

<div class=newsTextDataWrapInner><p>Qualgro and LINE Ventures also participated in this round. Additionally, the platform has raised credit lines from banks and financial institutions to further support SMEs... <a href="https://www.theedgesingapore.com/funding-societies-raises-25-mil-series-b-funding-led-softbank-ventures-korea" target="_blank">(Click here to read the full story)</a></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>


SINGAPORE (April 19): Funding Societies, the peer-to-peer (P2P) lending platform also known as Modalku in Indonesia, has raised US$25 million (S$32.8 million) in Series B fund.

Led by Softbank Ventures Korea, the funding round also includes existing investors Sequoia India, Golden Gate ...

Funding Societies raises S$25m in Series B funding led by Softbank Ventures Korea

(April 19): Israel received its first-ever sovereign downgrade as S&P Global Ratings lowered its credit rating to A+ from AA- on heightened geopolitical risks for the region.

The nation was cut by one notch to the fifth-highest score and on a par with Bermuda and China. The outlook ...

S&P downgrades Israel rating on heightened geopolitical risk

KUALA LUMPUR (April 19): RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.

In a trading stocks note on Friday, the research house said that the stock underwent a strong rebound a...

Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

KUALA LUMPUR (April 19): RHB Retail Research said Muhibbah Engineering (M) Bhd may be headed for an uptrend after rebounding strongly from a recent pullback, and pushing past the 21-day simple moving average line.

In a trading stocks note on Friday, the research house said that if it br...

Muhibbah Engineering may be headed for an uptrend, says RHB Retail Research 

(April 19): The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a center for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.

In state capi...

 Sarawak aiming to transform itself into a center for clean hydrogen energy

PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.

PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

Cocoa futures hit a new high in New York — topping US$11,000 (RM52,624) a metric tonne — as the pace of processing in chocolate factories holds up even in the face of a global supply crunch and record prices.

Cocoa soars above US$11,000 a tonne as processing pace holds up

The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.

US bank reserve balances see largest drop since 2022 tax season

Netflix on Thursday unexpectedly announced that it will stop reporting subscriber numbers each quarter, a decision seen as a sign that years of customer gains in the streaming wars are coming to an end.

Netflix to stop reporting subscriber tally as streaming wars cool

Federal Reserve policymakers have coalesced around the idea of keeping borrowing costs where they are until perhaps well into the year, given slow and bumpy progress on inflation, and a still-strong US economy.

US Fed policymakers agree there's no urgency to cut rates

Donald Trump said on Thursday the survival of Ukraine is important to the US, a shift in tone days before the Republican-led US House of Representatives is due to vote on a US$61 billion (RM291.8 billion) aid package.

Donald Trump says Ukraine's survival is important to US

<p>KUALA LUMPUR (April 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:</p>

<p>Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of <strong>HeiT...

HeiTech Padu, Axiata, AmanahRaya REIT, AmFirst REIT, RHB Bank, 7-Eleven Malaysia, MBSB, Awantec, MAA Group, UMediC, Systech, Pansar, Auro, Kimlun and AWC

<p>After spending over two years in court due to a suit from Empire Holdings Ltd, MAA Group Bhd, its major shareholder Tunku Datuk Yaacob Khyra and Turiya Bhd have been dropped as parties in the suit over MAA’s purchase of Turiya shares from a Bahrain-based bank. &nbsp;</p>


MAA Group exits legal bout over 2021 Turiya share acquisition under settlement deal

<div class="ceonothumb mx-auto pb-5">
<div>
<div class="iframe-w100-wrapper"><iframe allowfullscreen="" frameborder="0" height="500" src="https://www.youtube.com/embed/vxPRRG9FIvg?si=EJn8MQBYV-CAV27h&amp;rel=0&amp;autoplay=1&amp;mute=1" width="840"></iframe></div>
</div>

<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>High-impact projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) and&nbsp;Special Financial Zone&nbsp;(SFZ) in Forest City can spur Johor’s economy to outpace that&nbsp;of other states in the next one to two years, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


Special economic, financial zones can help Johor surpass other states economically, says Anwar

<p>FE Green Pet (M) Sdn Bhd’s new high-tech recycling factory is expected to make Melaka a green investment destination and complement the economic growth strategy in the state, said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.</p>

<p>He said with an investment totalling approximately RM958 million, the plant on 14 hectares of land is projected to be completed by 2Q 2025, creating almost 500 jobs.</p>


RM958 mil high-tech recycling factory puts Melaka on green investors map — Ab Rauf

<p>Swiss state prosecutors are seeking long prison terms for two men accused of embezzling US$1.8 billion from 1Malaysia Development Bhd (1MDB) — Saudi-Swiss businessman Tarek Obaid and his Swiss-British business partner Patrick Mahony, the AFP reported.</p>


Swiss prosecutors seek long jail terms for duo in US$1.8bil 1MDB fraud — report

<p>The developer of the&nbsp;Petaling Jaya Dispersal Link (PJD Link) expressway will receive an official letter soon, notifying it of the cancellation of the construction project.</p>


PJD Link developer to get official letter soon on cancellation, says Nanta

<p>(April 18):&nbsp;The world of chocolate is facing such immense cocoa shortages that the wild trading lured an unlikely player&nbsp;—&nbsp;Pierre Andurand, a hedge-fund manager best known for his bets on oil.&nbsp;</p>


Why the world of chocolate is in crisis

<p>Kimlun Corporation Bhd has bagged a construction contract worth RM150 million for a serviced apartment development project in Johor Bahru.</p>

<p>In a bourse filing on Thursday, Kimlun said its wholly-owned subsidiary Kimlun Sdn Bhd received the award as the main contractor for the Aliva Mount Austin residential project from Astaka Development Sdn Bhd, a subsidiary of Singapore-listed Astaka Holdings Limited.</p>


Kimlun bags RM150 mil contract for residential construction project in Johor

<p>PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.</p>


<p>More than a year after it diversified into the sand dredging business, timber products manufacturer Auro Holdings Bhd (formerly known as NWP Holdings Bhd) is proposing to venture into the food and beverage (F&amp;B) business.</p>

<p>The proposed diversification is aimed at expanding its revenue stream and reducing its reliance on the wood-based and sand mining industries, said the loss-making company in a bourse filing on Thursday. &nbsp;</p>


Auro forays into F&B business to cut dependence on wood-based and sand mining industries

<p>NEW YORK (April 19): US stocks vacillated on Thursday, swinging from red to green and back as investors contended with the push-pull of a strong economy and restrictive Federal Reserve policy.</p>

<p>Benchmark Treasury yields resumed their climb and gold added strength as ongoing turmoil in th...

Wall Street closes lower; gold climbs amid economic, geopolitical crosswinds

<p>With 94% of Malaysian companies gearing up for an artificial intelligence (AI) driven future, National Technology and Innovation Sandbox (NTIS) together with NVIDIA has launched an AI pilot sandbox programme.</p>


MOHE estimates 13,000 new AI talents by 2026

<p>Indonesia discouraged its state-owned enterprises from making huge dollar purchases, showing the all-hands-on-deck approach that the nation has taken to support the rupiah.</p>

<p>State-run firms with large import requirements or foreign currency-denominated debt must avoid buying large amounts of US dollars while the rupiah is under pressure, Coordinating Minister for Economic Affairs Airlangga Hartarto said in a briefing on Thursday.</p>


Indonesia tells state firms to refrain from buying dollars

<p>The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.</p>


US stops UN from recognising a Palestinian state through membership

<p>While most flights continued to be impacted&nbsp;following the volcanic eruption at Mount Ruang in North Sulawesi, Indonesia,&nbsp;low-cost carrier AirAsia&nbsp;reinstated several flights on Thursday.</p>


AirAsia reinstates several flights on Thursday after Indonesia's volcanic eruption

<p>Datuk Seri Dr Zambry Abdul Kadir, who co-chairs the Kuala Kubu Baharu by-election machinery&nbsp;coordination for the unity coalition, said its candidate would be deemed to represent the unity government rather than&nbsp;any particular party per se.</p>


Kuala Kubu Baharu by-election: Candidate to represent unity govt rather than any particular party, says Zambry

<p>The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower for the fifth consecutive day, said palm oil trader David Ng.</p>

<p>He said the weaker soybean oil market and lower crude oil prices continue to pile pressure on prices.</p>


CPO futures end lower for 5th consecutive trading day

<p>The life insurance industry recorded a double-digit growth of 11.6% in new business total premiums to RM13.4 billion last year, compared with RM12 billion in 2022.&nbsp;</p>


New business total premiums up 11.6% in 2023, says Life Insurance Association of Malaysia

<p>Dubai Airports Chief Operating Officer (COO), Majed Al Joker announced that Dubai International Airport (DXB) will resume normal operations within 24 hours, signifying a return to its full capacity and regular schedule.</p>
