<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 10): MISC Bhd, which saw its share price fall to an eight-month low of RM7.25 yesterday, said it is not aware of the reason behind the unusual market activity (UMA).</p></div>

<div class=newsTextDataWrapInner><p>In its reply to the UMA query issued by Bursa Malaysia earlier, the shipping giant said it was unaware of any corporate developments, rumour, report or any other possible explanation for the sharp fall in its share price yesterday.</p></div>

<div class=newsTextDataWrapInner><p>Yesterday, MISC fell RM1.09 or 13% to close at RM7.25 for a market value of RM32.36 billion.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Bursa Malaysia's UMA query followed MISC's corporate announcements in recent days.</p></div>

<div class=newsTextDataWrapInner><p>Yesterday, MISC,&nbsp;a 62.7%-owned subsidiary of Petroliam Nasional Bhd (Petronas), said it was selling its 100% stake in MISC Integrated Logistics Sdn Bhd to Swift Haulage Sdn Bhd for RM257.2 million. MISC said the sale is not expected to have a material impact on its earnings for financial year ending Dec 31, 2016 (FY16).</p></div>

<div class=newsTextDataWrapInner><p>Last Friday (May 6), MISC said its 1QFY16 net profit rose to RM571.01 million from RM486.31 million a year earlier. Revenue, however, fell to RM2.39 billion from RM2.49 billion.</p></div>

<div class=newsTextDataWrapInner><p>MISC said its latest reported net assets per share stood at RM7.30.</p></div>

<div class=newsTextDataWrapInner><p>Today, MISC's share price rose 35 sen or 4.83% to close at RM7.60, for a market value of RM33.93 billion.</p></div>

<div class=newsTextDataWrapInner><p>The stock saw some 20 million shares traded.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (May 10): MISC Bhd, which saw its share price fall to an eight-month low of RM7.25 yesterday, said it is not aware of the reason behind the unusual market activity (UMA).

In its reply to the UMA query issued by Bursa Malaysia earlier, the shipping giant said it was unaware ...

MISC not aware of reason behind UMA

Bursa Malaysia ended the week mixed on Friday with buying in selected heavyweights and commodity-related stocks amid the negative sentiment on regional markets, said an analyst.

Bursa ends mixed amid weak regional sentiment

KUALA LUMPUR (April 19): Software company Nova MSC Bhd said on Friday that it has signed term sheets by Singapore-based family office Jostar Investment VCC for investments totalling about RM41.4 million, into two of its subsidiaries.

Jostar expresses desire to invest RM41.4m into Nova MSC’s Singaporean units

Automotive electronic parts manufacturer MCE Holdings Bhd has commenced the construction for its MCE Auto Hub, the company’s new manufacturing facility in Serendah, Selangor, with an initial investment of RM50 million for the first phase of the development.

MCE Holdings commences construction for RM50 mil manufacturing facility in Serendah 

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week.

Most read this week

Shares of IT services firm Infomina Bhd fell on Friday to its lowest in nearly one year as its latest results disappointed investors even as analysts largely remained bullish.

Infomina shares near one-year low as earnings miss expectations

Nissan Motor Co said full-year operating profit came in at ¥530 billion (RM16.43 billion) — 15% lower than it forecast as recently as February as sales fell short of expectations.

Sales were 3.44 million units, less than the 3.55 million forecast given on Feb 8, the automaker said on Friday.

Nissan full-year profit misses as sales fall short of estimates

(April 19): ANZ Group Holdings Ltd is in discussions with Australian pension funds about investing in India’s infrastructure assets and its debt market, according to a senior bank official.

ANZ Bank in talks with Australian pension funds on India investments

(April 19):Blackstone Inc. collected more fees from big retail funds and credit strategies during the first quarter, compensating for the slower pace of deal exits.

Distributable earnings increased 1% from a year earlier to $1.27 billion, or 98 cents a share, the world’s biggest alterna...

Blackstone credit and retail lines drive narrow profit beat 

KUALA LUMPUR (April 19): Meta Bright Group Bhd is forming a joint venture company (JVco) with a Bumiputera firm to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright forms JVco with Bumiputera firm for RE projects

(April 19): Moody’s Ratings this week gave private credit investors greater reason for concern about credit quality in the flourishing $1.7 trillion industry.

The ratings company on Monday reduced its outlook for direct lending funds managed respectively by BlackRock Inc., KKR & Co....

Private credit funds get Moody’s warning on problem loans

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

<p>Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.</p>


Trading in Sapura Energy suspended pending announcement 

<p>Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.</p>


Israel attacks Iran, Reuters reports, as drones shot down over Isfahan 

<p>Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;</p>


Awantec shares plunge 53%, intraday short selling suspended 

<p>PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.</p>


PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

<p>RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).</p>


RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

<p>The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.</p>


 Sarawak aiming to transform itself into a centre for clean hydrogen energy

<p>Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.</p>


Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

<p>Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.</p>


Apple pulls WhatsApp, Threads from China app store after Beijing order

<p>MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;</p>


Main Market-bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

<p>The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).</p>


Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

<p>The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.</p>


KLCI up 0.43% with focus on energy, plantation, financial stocks

<p>Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.</p>


Bursa Malaysia 1Q earnings likely up 34% y-o-y, HLIB projects

<p>Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.</p>


Malaysia’s March exports down 0.8%, imports surge 12.5%

<p>The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.</p>


Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

<p>RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.</p>


Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

<p>The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.</p>


US bank reserve balances see largest drop since 2022 tax season

<p>Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.</p>


Kenanga sees Main-Market bound Keyfield International cashing in on OSV boom, sets target price at RM1.90

<p>Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.</p>


Sime Darby Property gets commitment for balance 30% of RM1b industrial development fund

<p>Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.</p>

<p>According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.</p>
