<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 3): Shares of water pipe manufacturers rose today as the Selangor government announced it would offer RM2.55 billion to take over Syarikat Bekalan Air Selangor Sdn Bhd (Splash), in a move towards solving the impasse over the state's water assets.</p></div>

<div class=newsTextDataWrapInner><p>Engtex Group Bhd, YLI Holdings Bhd, Hiap Teck Venture Bhd and Fitters Diversified Bhd were among the stocks that gained.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Engtex rose 9 sen or 8.11% to close at a nine-month high of RM1.20, while YLI gained 4 sen or 11.11% to settle at 40 sen.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Hiap Teck rose by 2.5 sen or 6.17% to 43 sen whereas Fitters Diversified Bhd gained 1 sen or 2.53% to end the day at 40.5 sen per share.</p></div>

<div class=newsTextDataWrapInner><p>Also up was water treatment services provider Taliworks Corp Bhd, which gained 4 sen or 3.17% to close at RM1.30. Taliworks is owed some RM638 million in receivables by Splash.</p></div>

<div class=newsTextDataWrapInner><p>It was announced today that Pengurusan Air Selangor Sdn Bhd has offered to acquire Splash at a 28% discount to its net book value of RM3.54 billion as at June 30, 2018. It would fulfil the acquisition consideration over nine years, said Selangor Chief Minister Amirudin Shari.</p></div>

<div class=newsTextDataWrapInner><p>Splash's current shareholders comprise Gamuda Bhd (40%), Kumpulan Perangsang Selangor Bhd via Viable Chip Sdn Bhd (30%), and Sweet Water SPV Bhd (30%).</p></div>


KUALA LUMPUR (Aug 3): Shares of water pipe manufacturers rose today as the Selangor government announced it would offer RM2.55 billion to take over Syarikat Bekalan Air Selangor Sdn Bhd (Splash), in a move towards solving the impasse over the state's water assets.

Engtex Group Bhd, YLI ...

Stocks of water pipe makers rise as Selangor govt offers for Splash

(April 23): Singapore’s core inflation eased in March on lower food prices and cost of services, with the disinflationary trend expected to continue, barring any supply shocks from geopolitical tensions.

Singapore’s inflation cools in March as central bank retains 2024 forecast

Deputy Prime Minister Datuk Seri Fadillah Yusof expressed hope that there would be no speculation surrounding the mid-air collision and crash involving two helicopters at the Royal Malaysian Navy (TLDM) base here on Tuesday.

Fadillah says avoid speculation on helicopter crash and to respect victims' families

KUALA LUMPUR (April 23): Malaysia has emerged as the most significant country within Asean for businesses to venture into, as shown by the UOB Business Outlook Study 2024 (SMEs & Large Enterprises).

Malaysia emerges as prime destination for Asean biz expansion — UOB study

Apple's smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020, as its dominance in the high-end segment came under pressure from Huawei's new product launches, market data showed.

Apple's 1Q smartphone shipments in China tumble 19%, data shows

Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday, thanks to buying from local and foreign institutions, said an analyst.

Bursa ends higher on buying support from local and foreign institutions

German police have arrested an assistant to a European Parliament member on suspicion of "an especially severe case" of espionage for China, prosecutors said on Tuesday, appearing to refer to a staffer for the far-right Alternative for Germany.

Germany arrests EU parliamentary staffer on China spying charges

Global shares rose on Tuesday, driven by a recovery on Wall Street, where investor focus is pinned on earnings reports from the US megacaps, while the yen hit a new 34-year low against the dollar, prompting a warning from Japanese officials.

Stocks gear up for Big Tech earnings; yen toys with danger zone 

Millennial and Generation Z (Gen Z) Muslims in Southeast Asia are increasingly embracing Islamic banking, with 77% of Malaysians and 65% of Indonesians surveyed using it alongside traditional banking, compared with only 31% globally, according to a report.

Millennial, Gen Z Muslims in Malaysia increasingly embracing Islamic banking — report

Global equities are more attractive after the recent rout removed market froth and as investors focus on robust corporate earnings, according to Citigroup Inc strategists.

Citi strategists say buy dips in global stocks on solid earnings 

Microsoft on Tuesday announced a cost-effective, small language artificial intelligence model that can perform tasks such as content creation and create social media posts while using smaller amounts of data.

Microsoft introduces smaller AI model

<p>The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.</p>




Najib's 1MDB-Tanore trial live reporting (April 23)

<p>Ten members of the Royal Malaysian Navy (RMN) were confirmed dead in an incident where two helicopters collided and crashed at the Royal Malaysian Navy (RMN) base in Lumut, Perak on Tuesday morning.</p>


Two helicopters crash in Lumut, 10 confirmed killed — RMN

<p>Shares of Topmix Bhd surged 32% in its trading debut on Tuesday after the surface decorative products company’s initial public offering (IPO) on the ACE Market raised RM31.7 million.</p>


Topmix surges 32% on ACE Market debut

<p>Healthcare stocks still have legs to run following the recent rally and investors should continue to buy hospital operators for their further earnings growth this year, analysts said.</p>


KPJ near record high, IHH surges as analysts bet on more upside

<p>Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.</p>


Eight contractors face possible MyCC fines for bid rigging in tenders worth RM473m

<p>Malaysia’s construction tender prices are&nbsp;expected to grow by 3% in 2024, compared to the previous year, driven by various factors such as project type, industry procurement strategy and currency fluctuations, according to a report by global professional services company Turner &amp; Townsend.</p>


Malaysia’s construction tender prices to grow by 3% in 2024, says Turner & Townsend

<p>Indonesian President Joko Widodo and his son, incoming vice-president Gibran Rakabuming Raka, are no longer members of the country's largest party after they backed rival candidate and election winner Prabowo Subianto, a party official said on Tuesday.</p>


Indonesia's biggest party confirms President Jokowi no longer a member after backing Prabowo

<p>Former Umno Supreme Council member Hizatul Isham Abdul Jalil or better known as Isham Jalil has offered to make an unreserved apology to bring an end to his contempt of court proceedings.</p>


Ex-Umno leader ready to apologise in contempt of court case

<p>Swatch Group (M) Sdn Bhd&nbsp;said the seizure of its 172 rainbow-themed watches had caused much grief to its international reputation, as the renowned Swiss watch maker had always been dutiful citizens of any state where the watches were sold.</p>


Swatch says advocating compassion for LGBTQ is not a crime, seizure illegal

<p>ATX Semiconductor Group, a globally renowned semiconductor provider from China, intends to ramp up investment to US$200 million (RM952 million) for its new manufacturing plant in Melaka over the next five years for its second-phase business expansion.</p>


ATX Semiconductor to boost investment in Melaka to RM952m

<p>Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence (AI) chips through resellers, despite the US widening a ban last year on the sale of such technology to China.</p>


China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show

<p>Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is still in the pre-qualification stage for the acquisition of national carrier SriLankan Airlines.&nbsp;</p>

<p>However, AirAsia Consulting has yet to submit any price bid since due diligence has not been carried out, its chief executive officer Subashini Silvadas told <em>The Edge</em> on Tuesday.</p>


Capital A’s unit in RFQ process for SriLankan Airlines, no price bid yet

<p>Datin Seri Rosmah Mansor's appeal against her guilty conviction and sentence over all three counts of graft pertaining to the RM1.25 billion solar hybrid project for 369 rural schools in Sarawak will be heard in October.</p>


October hearing for Rosmah's appeal in solar project graft trial

<p>Hong Leong Investment Bank (HLIB) has a “trading buy” rating on SDS Group Bhd and said with 33 of its F&amp;B outlets situated across Johor state, and a wholesale segment that is focusing in this region, SDS appears strategically positioned to leverage the burgeoning vibrancy in Johor, propelled further by the continuous influx of visitors from Singapore.</p>


SDS strategically positioned to leverage burgeoning vibrancy in Johor, says HLIB 

<p>Moomoo Malaysia, an online trading platform, garnered 100,000 clients within six weeks of its launch, making it one of the most downloaded financial mobile applications in Malaysia.&nbsp;</p>


Moomoo Malaysia surpassed 100,000 clients within six weeks of its debut in Malaysia

<p>Malton Bhd has unveiled the final tower (Block B) of River Park, following the successful launch of its previous Tower A and Tower C blocks with more than 70% take-up rate.</p>


Malton unveils River Park's final tower

<p>The two helicopters which collided and crashed at the Royal Malaysian Navy (RMN) Base were undergoing a rehearsal for the third time in conjunction with RMN Fleet Open Day celebration scheduled on Saturday (April 27).</p>


RMN helicopters involved in third rehearsal before incident — Khaled Nordin

<p>Bursa Malaysia opened higher on Tuesday, taking its cue from Wall Street’s better performance overnight, as sentiment improves after Iran said it will not escalate the conflict with Israel, said an analyst.</p>


Bursa up in early trade, tracking Wall Street overnight

<p>Rakuten Trade has a “buy” rating on ACE Market-bound surface decorative products company Topmix Bhd at an initial public offering (IPO) price of 31 sen, with a fair value of 40 sen based on financial year 2024 (FY2024) forecast price-earnings (PE) of 15x, in line with industry peers.</p>


Rakuten Trade values Topmix at 40 sen, expects FY2023-FY2026 earnings to grow at CAGR of 25%

<p>Topmix Bhd, a surface decorative company listed on Tuesday, expects its expansion in the northern region of Peninsular Malaysia to boost its earnings growth.</p>

<p>The northern region, particularly Penang, has seen an influx of foreign investors, leading to higher income levels and rapid development of housing and commercial projects, which all “bode well for Topmix’s expansion plans", said managing director Teo Quek Siang.</p>
