<div class=newsTextDataWrapInner>Hong Leong Financial Group 2Q net profit up at RM503m from RM482m a year earlier</div>
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Hong Leong Financial Group 2Q net profit up at RM503m from RM482m a year earlier
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Hong Leong Financial Group 2Q net profit up at RM503m from RM482m a year earlier

Europe’s banks and pharmaceutical giants propelled European earnings ahead of expectations in the first quarter, signalling potential guidance upgrades ahead.

Europe’s big banks and pharma giants defy odds of decline

Perak requires 57,407 units of new affordable houses by 2030, according to Menteri Besar Datuk Seri Saarani Mohamad.

He said that this projection is based on various development projects being implemented or to be implemented in the state, such as the Lumut Maritime Industrial City, the Automotive High Technology Valley, and the opening of the Kerian Integrated Green Industrial Park.

Affordable housing: MB says Perak requires over 57,000 new units by 2030

Malaysia’s air passenger traffic rose 19.5% year-on-year (y-o-y) to 7.9 million in April, which was also an 8% month-on-month (m-o-m) increase from March this year, according to the Malaysian Aviation Commission (Mavcom).

Malaysia's air passenger traffic up 19.5% to 7.9 million in April, says Mavcom

Bumiputera-mandated agencies under Ministry of Economy will move away from giving out ‘free money’ or grants, to focus on providing financial leverage and assistance for business expansion, its minister Rafizi Ramli said on Monday.

Bumiputera agencies to move away from giving out 'free money', says Rafizi

Having experienced the pre-ride sharing, taxi-booking app era, where there was no choice but to flag down a taxi on the street, the realist in me knew the attempt to flag down a taxi in a crowded nightspot area in Seoul about half an hour to midnight (after which a surcharge kicks in) was futile.

Coffee Break: Let paying it forward be on good deeds, not credit

AS Malaysia finalises its Semiconductor Strategic Plan (SSP), expectations are high for a roadmap that will not only attract global players but also elevate local firms in the electrical and electronics (E&E) sector.

The Ministry of Investment, Trade and Industry (Miti) is set to un...

The State of the Nation: Chipping in to move up the E&E value chain

The quiet and established Kenny Hill neighbourhood in Kuching, Sarawak is home to many large properties with sizeable compounds, as evident during our media familiarisation trip in April. It is within this affluent neighbourhood that ParkCity Group’s first foray into the Kuching pr...

Implementing ParkCity’s core values in Kuching

Police are investigating whether several recent incidents involving the security of important national institutions and Members of Parliament are random acts or part of a coordinated plan.

Cops probing whether incidents involving important national institutions are random or planned acts, says Saifuddin

In The Edge Malaysia this week — a monumental shift in Malaysia’s airport industry is set to bring winds of change.

EDGE WEEKLY: A Deal to bring the Experts in

The High Court here on Monday issued a gag order barring Bersatu Information Committee member Badrul Hisham Shaharin, or Chegu Bard, from issuing any statements or comments related to the casino project in Forest City until the disposal of the case.

JB High Court issues gag order on Chegu Bard

Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest banking group by assets, said on Monday its net profit slipped 3.5% for the first quarter ended March 31, 2024 (1QFY2024) from a year earlier, mainly due to higher personnel costs and higher provisions.

Public Bank's 1Q net profit slips 3.5% on higher costs, provisions

Iranian President Ebrahim Raisi, a hardliner and potential successor to Supreme Leader Ayatollah Ali Khamenei, was killed in a helicopter crash in mountainous terrain near the Azerbaijan border, officials and state media said on Monday.

The charred wreckage of the helicopter which crashed on Sunday carrying Raisi, Foreign Minister Hossein Amirabdollahian and six other passengers and crew was found early on Monday after an overnight search in blizzard conditions.

Iranian President Ebrahim Raisi killed in helicopter crash

Iran's President Ebrahim Raisi was killed in a helicopter crash, an Iranian official and Mehr news agency reported on Monday. Below is a brief outline of what Iran's constitution says happens when a president is incapacitated or dies in office:

What happens in Iran when a president dies in office?

The time it’s taking for some of China’s electric-car makers to pay suppliers is ballooning — a further sign of stress in the nation’s increasingly cutthroat auto market.

China’s EV makers taking longer to pay bills amid rising stress

AS more investments continue to pour into the data centre (DC) industry, companies are looking to tap opportunities in either the DC construction, fit-out or testing and commissioning segments.

Notably, the artificial intelligence (AI) boom has spurred demand for digital infrastructure,...

Data centre-linked stocks gain traction on news flow

Electronics manufacturing services firm Notion VTec Bhd (KL:NOTION) charted a new three-year high on Monday, as Bursa Malaysia’s Technology Index touched a new one-year high following the US’ plan to hike tariffs on semiconductors from China.

Notion VTec charts new three-year high amid rally in tech stocks

Bursa Malaysia said on Monday it is introducing Trading Reminders, a new tool that highlights unusual trading activity in addition to queries issued over spikes in prices and volumes.

Bursa introduces Trading Reminder flag on top of unusual market activity queries

RHB Investment Bank Research has maintained its 'buy'&nbsp;rating for&nbsp;Gamuda Bhd (KL:GAMUDA) at RM5.58, with a higher target price of RM6.55 (from RM6.30), and said it is upbeat on the prospects Ho Chi Minh City (HCMC) has for Gamuda’s property arm.

RHB IB upbeat on Gamuda’s prospects in Ho Chi Minh City, raises target price to RM6.55

Shares in gold-related counters surged on Monday, following the precious metal notching a fresh all-time high, as investor demand soared across the broader metals complex, amid increasing optimism the US will cut interest rates this year.

Poh Kong leads rally in gold-linked stocks as metal hits fresh record

Gold surged to an all-time high, boosted by increasing optimism the Federal Reserve will start easing monetary policy this year along with rising geopolitical tensions in the Middle East.

Gold hits record high on Fed rate-cut hopes, rising haven demand 

The High Court has ordered former Mara Corp chief executive officer (CEO) Datuk Badlisyah Abdul Ghani to pay the firm RM3.4 million after finding him guilty for breach of duty during his three-month term with the company, which is the investment and commercial arm of Majlis Amanah Rakyat.

Former Mara Corp CEO ordered to pay RM3.4m to company for breach of duty

Maxis Bhd’s (KL:MAXIS) intention to build a second fifth-generation (5G) network could potentially put the group’s financial position and future earnings under pressure, according to analysts.

Maxis' financial position could face pressure from proposed second 5G network, say analysts

Foreign buying of Malaysian equities was sustained for the fourth consecutive week with a total of RM873.9 million last week, leading to a year-to-date net inflow of RM4.9 million.

In its fund flow report on Monday, the MIDF Research team said the sustained interest in the domestic market may have stemmed from economic optimism, as recent data revealed a 4.2% year-on-year rise in gross domestic product in the first quarter of 2024.

Foreign buying of M'sian equities sustained for fourth week with RM874m inflow, says MIDF

Malaysia is expected to see a "potential upswing" in external demand, particularly from China, while also benefitting from the imposition of US tariffs on Chinese goods, including electric vehicles (EVs) and their components, said TA Securities.

Malaysia to benefit from China demand, US tariffs on Chinese EVs — TA Securities

KUALA LUMPUR (May 20): Phillip Capital has maintained its “buy” rating on Kerjaya Prospek Group Bhd at RM1.80 with a higher target price (TP) of RM2 (from RM1.93) and said it expects Kerjaya’s 1Q2024 net profit to come in stronger year-on-year, but flat quarter-on-quarter.

In a note on ...

Phillip Capital raises target price for Kerjaya Prospek to RM2, sees stronger y-o-y net profit growth in 1Q2024

Taiwan President Lai Ching-te asked China on Monday to stop its military and political threats, saying in his inauguration speech that peace is the only choice and that Beijing had to respect the choice of the Taiwanese people.

Lai, addressing the crowd outside the Japanese-colonial-era presidential office in central Taipei, repeated a call for talks with China, which views the proudly democratic island as its own territory and has never renounced the use of force to bring it under Beijing's control.

New Taiwanese president calls on China to stop its threats

theedgemalaysia.com&nbsp;highlighted one stock with positive momentum and 16 stocks with negative momentum at Bursa Malaysia's afternoon close on Monday. &nbsp;

Cahya Mata Sarawak, Willowglen, Oceancash, Excel Force, Manulife, MBSB, MFM, Panasonic, ELK-Desa, Puncak Niaga, BIG Industries, Astral Asia, Niche Capital Emas, Hextar Retail, Arka, AHB, Dataprep

Troubled Australian casino operator Star Entertainment Group said several suitors have approached the company about possible deals, after a newspaper reported that a consortium led by Hard Rock Hotel &amp; Casino made a takeover proposal.

Star says suitors circling as Hard Rock reportedly makes offer 

Malaysia’s exports rebounded at a slower-than-expected 9.1% in April from a year earlier, as a surge in shipments of machineries, chemicals and palm oil offset a decline in deliveries of petroleum products and subdued electronics demand, official data Monday showed.

Malaysia's exports rebound slower than expected in April, official data shows

Malaysia Airports Holdings Bhd’s (KL:AIRPORT) traffic expanded by 7.6% to 11 million passengers in April 2024, compared with the preceding month's 10.2 million passengers.