<div class=newsTextDataWrapInner>Flash: IWH CREC is allowed to bid for Bandar Malaysia again as long as the offer is right — Abdul Rahman Dahlan</div>
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Flash: IWH CREC is allowed to bid for Bandar Malaysia again as long as the offer is right — Abdul Rahman Dahlan
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IWH CREC allowed to bid for Bandar Malaysia again as long as offer is right — Rahman Dahlan

Putrajaya's plan to implement targeted subsidies will begin with diesel and involve only consumers in Peninsular Malaysia, according to Prime Minister Datuk Seri Anwar Ibrahim.

Anwar: Targeted subsidies to start with diesel and involve only consumers in Peninsular Malaysia

Perdana Petroleum Bhd (KL:PERDANA) booked a net profit of RM6.07 million in the first quarter ended March 31, 2024 (1QFY2024), as opposed to a net loss of RM8.26 million a year before, amid continued strength in demand for offshore support vessels (OSVs) for offshore production operations and maintenance activities.

Perdana Petroleum delivers RM6.1 mil net profit in 1Q amid sustained OSV demand

The Perak state government is awaiting federal government approval for Colebrand International Ltd, a UK-based mega infrastructure engineering company, to begin a field study for the construction of a new international airport.

Perak awaiting federal govt approval to proceed with study on new airport

The Selangor police have confirmed summoning Hulu Kelang state assemblyman Datuk Seri Mohamed Azmin Ali to provide a statement at the Shah Alam district police headquarters under Section 112 of the Criminal Procedure Code.

Police confirm Hulu Kelang assemblyman summoned for statement in probe into PKNS info leak

European Union (EU) countries have formally adopted a plan to use windfall profits from Russian central bank assets frozen in the EU for Ukraine's defence, the Belgian government said on Tuesday.

EU countries adopt plan to use profits from frozen Russian assets for Ukraine's defence

The tech-heavy Nasdaq fell on Tuesday as investors grew cautious ahead of artificial intelligence (AI) chip leader Nvidia's earnings this week and Federal Reserve (Fed) officials emphasised the central bank is in no hurry to ease interest rates.

Nasdaq slips from record high on Fed policy caution, Nvidia results watch

Prime Minister Datuk Seri Anwar Ibrahim said the government’s plan to implement targeted subsidies will begin with diesel, and involve only consumers in Peninsular Malaysia. He said further details will be announced later.

NEWS: Diesel first on subsidy rationalisation plan

A British man was killed and seven other people were critically injured after a Singapore Airlines Ltd jet flying from London to its home country encountered severe turbulence as it entered Thai airspace.

One dead after Singapore Airlines flight hit by severe turbulence

Security measures over government buildings, public spaces, and critical facilities have been heightened following recent breaches, announced Royal Malaysian Police (PDRM) director of management Datuk Seri Azmi Abu Kasim.

Police heighten security measures for govt buildings, public spaces and critical facilities

Chinese Foreign Minister Wang Yi called Taiwan's newly-inaugurated President Lai Ching-te "disgraceful" on Tuesday, stepping up Beijing's rhetoric just a day after he took office.

China, which claims Taiwan as its own territory, believes Lai to be a "separatist", and has rebuffed his offers of talks.

China's foreign minister calls Taiwan's new president 'disgraceful'

Hartalega Holdings Bhd (KL:HARTA) notched a turnaround in its final quarter, thanks partly to a provision reversal that also helped to bring the world’s second-largest glovemaker by volume back into the black for the year.

Hartalega returns to the black for 4QFY2024

Pos Malaysia Bhd (KL:POS) is selling its ship chartering unit that mainly deals with bulk cargoes for RM123.21 million as part of a move to shed non-core businesses.

Pos Malaysia to sell non-core shipping unit for RM123m

Putrajaya's plan to implement targeted subsidies will begin with diesel and involve only consumers in Peninsular Malaysia, according to Prime Minister Datuk Seri Anwar Ibrahim.

The proposed fuel subsidy rationalisation by the government could impact the local automotive market, which houses its major customers, primarily consisting of automotive vehicle original equipment manufacturers (OEMs), according to automotive seat manufacturer Feytech Holdings Bhd (KL:FEYTECH).

Feytech expects proposed subsidy rationalisation to impact automotive market

Bersatu Information Chief Datuk Wan Saiful Wan Jan was never involved in any of the government committees that had awarded the ‘Central Spine Road: Sertik to East Coast Highway Intersection’ contract to Nepturis Sdn Bhd, the Sessions Court was told on Tuesday.

Wan Saiful not involved in committees awarding Jana Wibawa contracts, says witness

KTI Landmark Bhd expects to raise RM48&nbsp;million under its listing exercise on the ACE Market of Bursa Malaysia.

In a statement on Tuesday, the Sabah-based integrated property developer said it plans to use RM20.7 million (43.1%) of the proceeds raised from the initial public offering (IPO) to supplement its general working capital requirements for The Logg&nbsp;project, which include construction cost (building and infrastructure cost), consultants’ and professional fees, and local authority fees for the ongoing projects.

KTI Landmark to raise RM48m from ACE Market IPO

Affin Bank Bhd (KL:AFFIN), the financial services arm of the Armed Forces Fund&nbsp;Board (LTAT), said on Tuesday its net profit down was 26% lower year-on-year (y-o-y) in the first quarter, on lower net interest income and other income.

Affin Bank's 1Q net profit down 26% as net interest income falls

Sunway Construction Group Bhd (KL:SUNCON) retreated on Tuesday from its all-time high amid weaker-than-expected results and growing market concerns that its shares may have peaked after beating the consensus target price.

SunCon shares off record high after below-view 1Q amid analyst downgrades

ASML Holding NV and Taiwan Semiconductor Manufacturing Co have ways to disable the world’s most sophisticated chipmaking machines in the event that China invades Taiwan, according to people familiar with the matter.

ASML and TSMC can disable chip machines if China invades Taiwan, Bloomberg reports

Hibiscus Petroleum Bhd's [KL:HIBISCS] net profit climbed by 42.37% to RM101.81 million in the third quarter ended March 31, 2024 (3QFY2024), from RM71.51 million a year ago, driven by strong oil and condensate prices of over US$90 (RM421.68) per barrel.

Hibiscus' 3Q net profit climbs 42%, driven by strong oil and condensate prices

Shares of Supercomnet Technologies Bhd (KL:SCOMNET) fell on Tuesday and may be on course for its worst day in 15 months after the medical device manufacturer reported a weaker-than-expected first quarter.

Supercomnet shares log worst day in 15 months after below-view 1Q

Tencent Holdings Ltd suspended the highly anticipated Dungeon &amp; Fighter Mobile within an hour of its Chinese debut Tuesday, suggesting strong initial demand for a blockbuster title that investors hope will drive revenue growth in 2024.

Tencent suspends blockbuster game within an hour of China debut

Traders are pricing in a big move for Nvidia’s shares after the chipmaker reports earnings on Wednesday, though expectations for volatility are more muted than in the past, US options markets show.

Nvidia earnings could spark US$200b swing in shares, options show

The hike in diesel prices is expected to be implemented in early June to combat smuggling and mitigate costly subsidies, according to CGS International.

CGS International expects diesel price hike early June 

Bank Islam Malaysia Bhd (KL:BIMB), Malaysia's largest full-fledged Islamic bank, said on Tuesday its net profit increased 9.4% for the first quarter ended March 31, 2024 (1QFY2024) from a year earlier, mainly driven by higher net fund-based income and lower net allowances for impairment on financing.&nbsp;

Bank Islam posts 9.4% increase in 1Q net profit on higher net fund-based income, lower impairment

1Malaysia Development Bhd (1MDB) on Tuesday obtained a judgement in default (JID) against Puan Sri Goh Gaik Ewe, the mother of fugitive Low Taek Jho (Jho Low), over its claim of US$1.695 million (RM7.9 million) worth of jewellery allegedly bought with 1MDB funds.

1MDB obtains judgement in default against Jho Low’s mum; court fixes August trial dates for Eric Tan and May Lin

Petronas Dagangan Bhd's (KL:PETDAG) net profit for the first quarter ended March 31, 2024 (1QFY2024) fell 25% year-on-year to RM226.04 million, from RM301.84 million previously, due mainly to higher product cost and operating expenditure.

PetDag's 1Q net profit falls 25% to RM226m, declares dividend of 18 sen

A British man was killed and seven other people were critically injured after a Singapore Airlines Ltd jet flying from London to its home country encountered severe turbulence as it entered Thai airspace.

Cape EMS Bhd’s (KL:CEB) net profit jumped 58% to RM13.41 million or 1.35 sen per share in the first quarter ended March 31, 2024 (1QFY2024), from RM8.5 million or 1.07 sen per share a year ago, on better performance from its industrial and consumer electronic manufacturing services (EMS) segments.

Cape EMS’ 1Q net profit jumps 58%

A coalition of Tesla Inc shareholders is urging other investors to reject a US$56 billion (RM262.78 billion) pay package for chief executive officer Elon Musk in the company’s June 13 annual meeting, posing a threat to one of the world’s largest fortunes.