<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 22): Pengerang Refining and Petrochemical (PRefChem) has commenced the start-up of its refinery through the firing up of the complex’s crude distillation unit.</p></div>

<div class=newsTextDataWrapInner><p>With this, the group expects the refinery to be ready for commercial operations by the fourth quarter of 2019.</p></div>

<div class=newsTextDataWrapInner><p>In a statement today, PRefChem said the refinery has a capacity of 300,000 barrels of crude per day, and will produce a range of refined petroleum products, including gasoline and diesel, upon completion, meeting Euro 5 fuel specifications.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The refinery will also provide feedstock for the integrated petrochemicals complex, which has the capacity to produce 3.3 million tonnes per annum.</p></div>

<div class=newsTextDataWrapInner><p>“Today, the refinery has achieved mechanical completion and is now in full commission, marking the beginning of start-ups in subsequent facilities within this integrated development,” said Chief Executive Officer of PRefChem, Dr. Colin Wong Hee Huing.</p></div>

<div class=newsTextDataWrapInner><p>PRefChem is a partnership between Petroliam Nasional Bhd (Petronas) and Saudi Arabian Oil Company (Saudi Aramco). The two groups have equal shares in two joint ventures, Pengerang Refining Company Sdn Bhd and Pengerang Petrochemical Company Sdn Bhd.&nbsp;</p></div>


Pengerang Refining and Petrochemical (PRefChem) has commenced the start-up of its refinery through the firing up of the complex’s crude distillation unit.

PRefChem commences start-up of refinery

Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.

Mohan Swami, partner agree to buy 58% of Turiya for RM52.86m from MAA Group

Oil prices rose on Friday, on track to end higher this week after two straight weeks of losses, after a top US official expressed optimism over economic growth and as supply concerns lingered due to conflicts in the Middle East.

Oil prices on track to snap two-week losing streak

Analysts believe Capital A Bhd's proposed restructuring plan will help the group exit the Practice Note 17 (PN17) status and enhance its competitiveness, as well as provide benefits to AirAsia X Bhd's (AAX) shareholders in terms of free warrants and improved company valuation post restructuring.

Analysts positive restructuring plan will uplift Capital A 's PN17 status, benefit AirAsia X shareholders

JAKARTA (April 26): Indonesia needs to anticipate any impact on the domestic economy of the recent escalation in geopolitical tensions in the Middle East and delays in US monetary easing, which will also affect the government's budget, its finance minister said on Friday.

Indonesia finmin says monitoring economic impact of geopolitics

APS Asset Management Pte founder Kok-Hoi Wong is preparing to step down as chief investment officer (CIO) of the Singapore-based hedge fund in the coming year.

Singapore hedge fund APS says founder to step down as CIO

The Malaysian Anti-Corruption Commission (MACC) has given businessmen Mirzan Mahathir and Tan Sri Mokhzani Mahathir a 30-day extension from Friday to declare their assets to the anti-graft body.

Mirzan and Mokhzani given 30-day extension to declare assets

BENGALURU/KOTTAYAM, India (April 26): India began voting on Friday in the second phase of the world's biggest election, as Prime Minister Narendra Modi and his rivals raise the pitch of the campaign by focusing on hot-button issues such as religious discrimination, affirmative action and taxes.

India votes in second election phase as Modi vs Gandhi contest heats up

D&O Green Technologies Bhd, which mainly makes automotive light-emitting diodes (LEDs), is optimistic of at least 10% revenue growth this year and plans to build another facility in anticipation of “significant growth” over the next decade.

D&O optimistic of revenue growth, plans new RM200m facility

CVC Capital Partners and its investors raised €2 billion (RM10.2 billion) in an initial public offering (IPO), bringing the long-delayed listing process for one of Europe’s marquee private equity firms to a resolution.

CVC Capital, backers raise €2 bil in long-awaited listing

The yen was parked by a 34-year low on the dollar and decade lows on other crosses ahead of a Bank of Japan (BOJ) meeting where interest rates are expected to stay low, while the dollar dipped elsewhere on softer-than-expected US growth data.

Japan's yen hits fresh 34-year low after BOJ holds interest rates

<p>Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.</p>


Berjaya Corp denies participation in talks to revive Forest City casino resort

<p>The Inland Revenue Board (IRB) has extended the deadline for non-business taxpayers to submit their tax return form for the year of assessment 2023 via e-Filing from April 30 to May 15.</p>


e-Filing: Tax return form submission deadline extended to May 15 for non-business taxpayers

<p>Maxis Bhd could work with another consortium partner to lower the cost of deploying the second 5G network, even after the recapitalisation of Digital Nasional Bhd (DNB), said RHB Research in a note on Friday.</p>


Maxis could lead second 5G network roll-out with new consortium partner, says RHB Research

<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


SC adds four entities to Investor Alert List, two being potential clones

<p>Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.</p>


ViTrox shares on pace for worst day in 18 months as 1Q disappoints

<p>Analysts believe Capital A Bhd's proposed restructuring plan will help the group exit the Practice Note 17 (PN17) status and enhance its competitiveness, as well as provide benefits to AirAsia X Bhd's (AAX) shareholders in terms of free warrants and improved company valuation post restructuring.</p>


<p>Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.</p>


<p>Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.</p>


Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

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


YTL Corp eyeing to extend upside movement, says RHB Retail Research 

<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>


Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

<p>Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.</p>


Asia’s richest banker loses US$1.2 bil after RBI ban

<p>The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.</p>


Merger of airlines alone enough to reverse all of Capital A's negative equity, says Fernandes

<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>


VS Industry poised to continue bullish trajectory, says RHB Retail Research 

<p><em><strong>More to come</strong></em></p>
...

Govt to announce second 5G network next week, coverage now at 80.3%, says Fahmi

<p>The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that car buyers in other markets have never seen.</p>

<p>China’s upstart electric brands, and even its state-owned, legacy automakers, are racing to pack technology and features once considered premium into electric vehicles (EVs) as cheap as US$20,000 (RM95,525) — less than half the cost of an average new car in the US, now more than US$48,000.</p>


Battle for 'tech luxury' in China as EVs get smarter — and cheaper

<p>The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.</p>


World’s billionaires should pay minimum 2% wealth tax, say G20 ministers

<p>The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.</p>


Tesla fires back at investor who doesn’t want pay fight in Texas

<p>European and American investors showed converse interest in sustainable funds during the first quarter, research firm Morningstar said on Thursday, with a record US$8.8 billion (RM42.03 billion) in net withdrawals from the products in the US.</p>


Record US$8.8 bil pulled from US sustainable funds in 1Q

<p>Anyone called in by the Malaysian Anti-Corruption Commission (MACC), either as a witness or subject of investigation, is given ample opportunity to provide additional, detailed information as they please, and this includes imprisoned former prime minister Datuk Seri Najib Razak.</p>


MACC officer says Najib given ample opportunity to elaborate while statements were recorded

<p>Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.</p>
