<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 12): Sapura Energy Bhd rose 6.30% in active trade this morning after the company said it has discovered its ninth gas exploration well in offshore Bintulu, Sarawak following the completion of its drilling campaign within Block SK408 in 2017.</p></div>

<div class=newsTextDataWrapInner><p>At 9.01am, Sapura Energy rose 4 sen to 67.5 sen with 27.83 million shares done.</p></div>

<div class=newsTextDataWrapInner><p>The group said the ninth well was discovered by its wholly-owned subsidiary, Sapura Exploration and Production (Sarawak) Inc, and its two partners, Sarawak Shell Bhd and Petronas Carigali Sdn Bhd.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Codenamed Pepulut-1, Sapura Energy said the ninth well encountered high quality reservoir within the Block SK408 production-sharing contract.</p></div>

<div class=newsTextDataWrapInner><p>The well's discovery comes after the group's recent announcement of its development plans for Gorek, Larak and Bakong fields as phase one in the Block SK408.</p></div>


KUALA LUMPUR (June 12): Sapura Energy Bhd rose 6.30% in active trade this morning after the company said it has discovered its ninth gas exploration well in offshore Bintulu, Sarawak following the completion of its drilling campaign within Block SK408 in 2017.

At 9.01am, Sapura Energy r...

Sapura Energy active, jumps 6.30% on discovery of gas well in Bintulu

China's manufacturing and services activity both expanded at a slower pace in April, official surveys showed on Tuesday, suggesting some loss of momentum for the world's second-biggest economy at the start of the second quarter.

China's slow April factory, services activity dents economic momentum

Relatively lower inflation in Asia means the region's central banks can focus more on domestic conditions and less on what the US Federal Reserve might do when setting monetary policy, the International Monetary Fund said on Tuesday.

Asian central banks in good position to move independently of Fed, says IMF

HSBC chief executive Noel Quinn will retire, it said on Tuesday, in a surprise departure from the bank that he has overhauled in the past five years through a sweeping series of asset sales across the globe.

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Six spot bitcoin and ether exchange traded funds (ETFs) gained in their Hong Kong debut on Tuesday, with the three bitcoin ETFs climbing more than 3% in early trade, reflecting Asian investor enthusiasm for cryptocurrencies.

Asia's first spot bitcoin and ether ETFs gain in Hong Kong debut

KUALA LUMPUR (April 30): Prime Minister Datuk Seri Anwar Ibrahim expressed on Tuesday, Malaysia’s preparedness to explore new areas of cooperation with Saudi Arabia, in line with the kingdom’s Vision 2030, especially in the fields of renewable energy and hydrogen.

Malaysia seeking cooperation with Saudi on renewable energy, hydrogen — Anwar

The Malaysian Bar filed a judicial review application last Friday to seek a declaration that the decision by the Federal Territories Pardons Board in Jan 29 to halve Datuk Seri Najib Razak's jail sentence to six years and reduce the fine in his SRC International graft conviction to RM50 million is unconstitutional, void and unlawful.

Malaysian Bar challenges Pardons Board decision to reduce Najib’s sentence

SHANGHAI (April 30): China Vanke's first public commercial real estate investment products fell as much as 3% in early trade on their debut on Tuesday, reflecting caution towards China's second-largest developer amid a prolonged property market downturn.

China Vanke's first public commercial REIT falls in early trade on debut

I love Kuala Lumpur, the city where I was born — to be precise, it was in Maternity Ward 3 of the old General Hospital. The wooden structure of Ward 3 has long given way to new medical facilities, but the General Hospital has remained at the intersection of Jalan Pahang and Jalan Tun Razak since ...

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Asset managers in Malaysia and the rest of Asia will face headwinds as the US, the world’s largest capital market, transitions to T+1 settlement for transactions of various securities starting May 28.

These securities include equities, corporate bonds, government securities, municipal b...

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SYDNEY/BENGALURU (April 30): Australian No.2 grocery chain Coles said on Tuesday that it was asking suppliers to ship more products, after a slowdown in inflation encouraged shoppers to buy more, pushing its March quarter supermarket sales higher than analysts forecast.

Australia's Coles eyes more product volume as cooling inflation lures shoppers

<p>KUALA LUMPUR (April 30): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday (April 29):</p>

<p>QSR Brands and KFC Malaysia confirmed it suspended operations of its outlets to manage costs, amid news that over 100 of its outlets have ceased...

QSR Brands, Nestle, ViTrox, LPI Capital, Ajiya, YTL REIT, Tex Cycle, Gadang, HHRG, Sapura, MSC, Capital A, BSL, Oppstar

<p>YNH Property Bhd on Monday made a belated announcement about transactions involving its 6.49-acre land in Segambut, which it had inked an agreement in September last year to sell for RM59.58 million but revoked last week to have Chin Hin&nbsp;Group Property Bhd develop the plot in return for at least RM52 million.</p>


YNH makes belated announcement about transactions involving its Segambut land

<p>The Genting group companies' operations have recovered from the impact of the Covid-19 pandemic, and its earnings are expected to further grow, albeit more gradually, according to S&amp;P Global Ratings.</p>


S&P: Genting's operations have recovered from impact of pandemic, earnings to further grow

<p>Kossan Rubber Industries Bhd has clarified that the fire at a paint factory in Meru Industrial Park, Klang on Monday (April 29) had no impact on operations at its rubber glove factories.</p>


Fire outbreak at paint processing plant 'has nothing to do with Kossan Rubber Industries', says MD

<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP) opened at 63 sen in its Main Market debut on Tuesday, up 1.6% from its initial public offering (IPO) price of 62 sen.</p>


MKH Oil Palm rises 1.6% to 63 sen in Main Market debut 

<p>Shares in Oppstar Bhd rose to a five-month high on Tuesday after the integrated circuit (IC) design service provider announced it is partnering with South Korea’s tech giant Samsung Electronics Co Ltd to produce industrial ICs.</p>


Oppstar surges to five-month high after announcing Samsung tie-up

<p>RHB Investment Bank Research has maintained its “overweight” rating on the rubber products sector and said it expects glove makers to record positive quarter-on-quarter (q-o-q) net profit growth in the upcoming March quarterly reporting season.</p>


RHB sees glove makers recording positive q-o-q net profit growth in March earnings

<p>China needs to further reduce its Treasuries holdings, in part to lessen the potential leverage of Washington over its Asian rival, according to a paper published by a Chinese state think tank.</p>


China’s US Treasury holdings becoming ‘hostages,’ academic warns

<p>It’s “better to ask for forgiveness than permission” when it comes to complying with the law, the billionaire founder of the Binance cryptocurrency exchange once told his team, according to the US government.</p>


Binance and CZ’s fortunes are set to grow, jail or no jail 

<p>Integrated circuit (IC) design service provider Oppstar Bhd is collaborating with South Korea’s tech giant Samsung Electronics Co Ltd for the production of industrial ICs manufactured using Samsung’s 14 nanometre (nm) FinFET technology foundry process.</p>


Oppstar partners with Samsung to produce industrial integrated circuits

<p>HHRG Bhd was slapped with a RM58.18 million suit by Ooi Chieng Sim, in relation to a loan given out by the former executive chairman to the company.&nbsp;</p>


HHRG faces RM58 mil suit over alleged default of loan by ex-chairman

<p>Amy Wang was counting on a 100,000 yuan (RM65,743) subsidy promised by authorities in the eastern Chinese city of Weifang to fit and furnish an apartment she bought two years ago. Still waiting for the money, she is yet to move in.</p>


Strained Chinese cities struggle to pay home buying subsidies

<p>Samsung Electronics Co’s earnings surged after the semiconductor business returned to profitabilty for the first time since 2022, boosted by broad spending on artificial intelligence development.</p>


Samsung’s profit surges after AI boom reverses chip losses 

<p>Elon Musk’s net worth is soaring after it plunged to the lowest level in almost a year.</p>


Musk’s fortune soars by most since before Twitter purchase

<p>Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Sin-Kung Logistics Bhd at 17 sen, based on 15x price earnings ratio on FY2024F of 1.1 sen.</p>


HLIB values ACE Market-bound Sin-Kung Logistics at 17 sen

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


SC adds two potential clones to Investor Alert List

<p>KUALA LUMPUR (April 30): Shares of Nestlé (Malaysia) Bhd (Nestlé Malaysia) rose to its highest in eight months after reporting results that came in slightly ahead of expectations, though analysts flagged sales pressure ahead for the food-and-drink company.</p>


Nestle Malaysia shares rise to eight-month high after 1Q results

<p>Relatively lower inflation in Asia means the region's central banks can focus more on domestic conditions and less on what the US Federal Reserve might do when setting monetary policy, the International Monetary Fund said on Tuesday.</p>


<p>As projections for all the copper needed in the clean-energy transition help send prices of the wiring metal to two-year highs, a new report highlights the risks to future metal supplies from climate change.</p>


Half of all copper mining at drought risk with climate change

<p>US stocks ended higher on Monday, with sharp gains for Tesla and Apple leading the way, as investors looked toward what the Federal Reserve would say about the interest rate outlook after its policy meeting this week.</p>
