<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 18): Maybank Investment Bank Bhd (Maybank IB) announced it has bought an additional 38 million shares in Malakoff Corp Bhd at RM1.7917 per share or RM68.08 million.</p></div>

<div class=newsTextDataWrapInner><p>Maybank IB had so far purchased 115 million shares, worth a combined RM206.315 million, since the independent power producer made its debut last Friday (May 15). The investment banker Maybank bought 77 million shares at RM1.7952 apiece, for RM138.23 million.</p></div>

<div class=newsTextDataWrapInner><p>According to Capital Markets and Services (Price Stabilisation Mechanism) Regulations 2008, the stabilizing manager may purchase the share of its clients for the sole purpose of preventing or minimising any reduction in the market price of the relevant securities.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In a previous announcement, Maybank IB said it is allowed to take-up to 228.26 million shares, equivalent to 15% of the total number of initial public offering (IPO) shares.</p></div>

<div class=newsTextDataWrapInner><p>Maybank IB is Malakoff’s transaction manager, joint principal adviser, joint global coordinator, joint bookrunner, joint managing underwriter and joint underwriter. It is also Malakoff’s stabilising manager.</p></div>

<div class=newsTextDataWrapInner><p>Malakoff share price closed unchanged today at RM1.80, with 77.14 million shares traded, giving it a market capitalisation of RM8.9 billion.</p></div>


KUALA LUMPUR (May 18): Maybank Investment Bank Bhd (Maybank IB) announced it has bought an additional 38 million shares in Malakoff Corp Bhd at RM1.7917 per share or RM68.08 million.

Maybank IB had so far purchased 115 million shares, worth a combined RM206.315 million, since the indepe...

Maybank IB mops up 38 mil Malakoff shares for stabilisation

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<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:</p>


AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

<p>Chin Teck Plantations Bhd’s net profit surged sevenfold for the financial quarter ended Feb 29, 2024 (2QFY2024) thanks to higher palm oil production as well as lower operating and administrative expenses.</p>


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<p>The Malaysian Anti-Corruption Commission (MACC) has served a senior police officer arrested on suspicion of protecting an illegal syndicate in the country's capital a notice to declare his assets before April 28.</p>


Senior police officer arrested for alleged corruption given until April 28 to declare assets to MACC

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<p>TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.</p>


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<p>Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.</p>


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<p>US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told <em>Reuters </em>on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.</p>


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<p>Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.</p>


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<p>EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.</p>


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<p>As part of its continuing quest to add long-haul destinations to its routes over the long term, AirAsia X is exploring possible destinations in Eastern European countries such as Poland and Hungary, and the airline is not ruling out revisiting London and exercising its landing rights to Orlando in the United States.</p>


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<p>The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives hit a two-month low on Thursday, due to weaker soybean oil futures on the Chicago Board of Trade (CBOT), said a dealer.</p>

<p>Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the market sentiment was also weighed down by the Dalian Commodity Exchange’s refined, bleached, and deodorised palm olein during Asian trading hours.</p>


CPO futures hit two-month low at the close, in line with weaker rival oils

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<p>Heineken Malaysia Bhd announced on Thursday that it has nominated Martijn Rene van Keulen as its new managing director (MD).</p>


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<p>Malaysia nevers forget the sacrifices Australian and New Zealand heroes made during the World War II particularly in Sandakan and the lessons of history will be carried forward to the new generation.</p>


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<p>Tesla inves...

<p>RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.</p>


<p>RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.</p>
