<div class=newsTextDataWrapInner>SINGAPORE (Nov 1): MindChamps PreSchool Limited has established a joint venture company (JVC) with Indonesia’s Mayapada Group to bring MindChamps’ schools in Indonesia.</div>

<div class=newsTextDataWrapInner>The Mayapada Group was founded over 25 years ago, and has business beginnings with Bank Mayapada and Duty Free Shopper (Indonesia). The group is owned by the Tahir family.</div>

<div class=newsTextDataWrapInner>The first of the MindChamps PreSchool centres are slated to open in Bali in<a href="https://www.theedgesingapore.com/news/deals-joint-ventures-alliances/mindchamps-enter-indonesian-market-jvc-indonesias-mayapada-group" target="_blank">...(click on link for full story on theedgesingapore.com)</a> 
&nbsp;</div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (Nov 1): MindChamps PreSchool Limited has established a joint venture company (JVC) with Indonesia’s Mayapada Group to bring MindChamps’ schools in Indonesia.

MindChamps to enter Indonesian market via JVC with Indonesia's Mayapada group

Magma Group Bhd (KL:MAGMA), formerly known as Impiana Hotels Bhd, plans to undertake an issuance of redeemable convertible notes (RCNs) to raise up to RM100 million to repay borrowings and fund working capital.

Magma plans to raise RM100 mil via redeemable convertible note issuance  

Prime Minister Datuk Seri Anwar Ibrahim on Tuesday said that the government is taking it seriously to develop the progressive wage policy (PWP) to address the issue of low wages, especially among the younger generation and graduates.

Govt pledges to break stagnant wage with progressive wage policy — PM

KNM Group Bhd (KL:KNM) has received a written notice from a solicitor proposing the appointment of new directors for its upcoming annual general meeting (AGM) scheduled for June 6, 2024.

KNM receives nomination for new directors ahead of June 6 AGM

Hextar Industries Bhd (KL:HEXIND) saw its net profit tumble 78.1% year-on-year for the first quarter ended March 31, 2024 (1QFY2024), dragged by lower average selling prices (ASP) and higher raw material costs due to the weaker ringgit despite higher sales volume of fertilisers

Hextar Industries posts 78% drop in 1Q earnings on lower ASP, higher raw material costs

LBS Bina Group Bhd’s (KL:LBS) net profit rose by a marginal 0.11% to RM30.53 million in the first quarter ended March 31, 2024 (1QFY2024), from RM30.5 million a year earlier, helped by increased contribution from its property development business. Earnings per share increased to 1.49 sen from 1.48 sen.

LBS posts flat 1Q net profit as revenue drops to lowest in nearly three years

Malaysia recorded an encouraging economic achievement in the first quarter (1Q) of 2024 at 4.2%, surpassing the expectations of many parties who projected the growth rate at 3.9%, said Prime Minister Datuk Seri Anwar Ibrahim.

Economic achievement in 1Q 2024 very encouraging — Anwar

The country's investment record is expected to jump further this year compared to 2023, evidenced by potential foreign investments totalling RM76.1 billion that have been successfully attracted as of March 2024, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia's investment record to jump further this year, says Anwar

The government will take stern action against extremists and agitators of recent violent incidents in the country, said Prime Minister Datuk Seri Anwar Ibrahim.

Govt to act firmly against perpetrators of violence, ensures calm — PM 

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

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.

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

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

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

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

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

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 

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

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.

One dead after Singapore Airlines flight hit by severe turbulence

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%

DUTCH Lady Milk Industries Bhd (Dutch Lady Malaysia) (KL:DLADY), known for its attractive dividend payout, has garnered market interest with the completion of its new plant at Bandar Enstek in Negeri Sembilan. Year to date, the counter has risen 40% and closed at RM32.42 last Friday on expectatio...

Completion of Dutch Lady’s new facility sparks anticipation of higher dividend

The Federal Court has ruled in favour of TSR Capital Bhd (KL:TSRCAP) in its dispute with Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd (SPYTL) over the termination of a civil works subcontract for the electrified double-track project from Gemas to Johor Bahru.

TSR Capital gets full arbitration sum in dispute with YTL's unit over contract breach as Fed Court rules in its favour

Earthworks and civil engineering specialist Advancecon Holdings Bhd has clinched a RM25.4 million contract from Sime Darby Property Bhd to undertake main infrastructure works for Tiara Residences in Seksyen 8, Shah Alam.

Advancecon clinches RM25m infrastructure works contract in Shah Alam 

Glove manufacturer Kossan Rubber Industries Bhd (KL:KOSSAN) has posted its third consecutive quarter of profits in the first quarter, thanks to higher sales volume and lower natural gas prices.