<div class=newsTextDataWrapInner>KUALA LUMPUR (May 31): Furniture maker Latitude Tree Holdings Bhd has changed its name to Rhong Khen International Bhd effective Wednesday (June 1).</div>

<div class=newsTextDataWrapInner>In a Bursa Malaysia filing on Tuesday, the company said its shares will be traded and quoted under the new name with effect from 9am on Wednesday, and under a new stock short name, “RKI”.</div>

<div class=newsTextDataWrapInner>In a previous local bourse filing in April, the group said the change in corporate identity is to better reflect its core business and undertakings moving forward.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>“The proposed change of name will allow our company to better represent its international businesses and major subsidiary, as well as cultivate market awareness of the group's upstream businesses (the manufacturing and sale of wooden furniture parts and components, and decorative wood panels and papers)&nbsp;as the group hopes to expand these businesses moving forward,” it said.</div>

<div class=newsTextDataWrapInner>Shares in Latitude Tree closed two sen or 1.36% higher at RM1.49 on Tuesday, giving it a market capitalisation of RM289.6&nbsp;million.</div>

Furniture maker Latitude Tree Holdings Bhd has changed its name to Rhong Khen International Bhd effective Wednesday (June 1).

In a Bursa Malaysia filing on Tuesday, the company said its shares will be traded and quoted under the new name with effect from 9am on Wednesday, and under a new stock short name, “RKI”.

Latitude Tree to trade under new name Rhong Khen International effective June 1

Deutsche Bank AG plans to double the assets it manages for rich families in Southeast Asia and the Middle East over the next five years, tapping growing ties between ultra-rich clans in both regions, the lender’s global private banking head said.

Deutsche Bank unveils wealth targets after hiring push in Asia

Peloton Interactive Inc shares fell to a record low after chief executive officer Barry McCarthy announced plans to step down and the struggling fitness company embarked on a major restructuring that will reduce its global workforce by 15%.

Peloton tumbles to record low after announcing CEO exit, layoffs

Asian stocks rallied on Friday after Apple's record US$110 billion (RM523.15 billion) share buyback plan lifted the tech sector, while the yen put more distance from recent 34-year lows to cap a tumultuous week that saw suspected interventions from Tokyo.

Asian stocks surge on tech boost; yen extends gains to cap wild week

Malaysia’s planned increase in civil servant salaries will boost earnings of RCE Capital Bhd, which mainly provides consumer financing to government employees, Maybank Investment Bank (Maybank IB) said and upgraded the stock to ‘buy’.

Higher civil servant salaries will boost RCE Capital's earnings, says Maybank IB

Top executives at Japan’s trading houses have warned that the tumbling yen will crimp efforts to expand business overseas.

Japan trading houses say weak yen hurts efforts to expand abroad

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 Westports’ 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

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

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.

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

Asian stocks rallied on Friday after Apple's record US$110 billion (RM523.15 billion) share buyback plan lifted the tech sector, while the yen put more distance from recent 34-year lows to cap a tumultuous week that saw suspected interventions from Tokyo.

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

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

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

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

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

Malaysia’s planned increase in civil servant salaries will boost earnings of RCE Capital Bhd, which mainly provides consumer financing to government employees, Maybank Investment Bank (Maybank IB) said and upgraded the stock to ‘buy’.

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

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.

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.

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’

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

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).