IT has been two weeks since the capital gains tax (CGT) took effect, but accountants are still figuring out what to make of it. The accounting industry is busy, with experts from accounting professional bodies coming together to draft a paper that they plan to submit to the Ministry of Finance (M...

Cover Story 1: Capital Gains Tax: More than expected

THE offshore support vessel (OSV) sector has been waiting a long time for the tide to turn after a slump of many years. The time appears to be now, as oil majors globally ramp up their capital expenditure investment, especially for offshore activities, increasing the demand for OSVs.

“M...

Tide turning for OSV sector

Notable filings

From Jan 2 to 5, notable shareholding changes at Bursa Malaysia-listed companies included those at Bintai Kinden Corp Bhd, which saw its non-executive chairman Datuk Ng Choon Koon increase his stake by three million shares to 6.19%. Ng was state assemb...

Insider Moves: Bintai Kinden Corp Bhd, Dataprep Holdings Bhd, Leong Hup International Bhd, Frontken Corp Bhd, Globe­tronics Technology Bhd, Sarawak Cable Bhd 

ROUGHLY 15 months after Kuchai Development Bhd (KDB) completed distributing its 26.51% stake in Sungei Bagan Rubber Company (M) Bhd (Sg Bagan) to shareholders, the company ended the year with an announcement of a bigger deal.

This time around, KDB is selling its assets and liabilities v...

After asset sale, what’s next for cash-rich KDB and asset-laden Sg Bagan?

Brokers Digest: Local Equities - Construction, Cypark Resources Bhd, CIMB Group Holdings Bhd, Malaysia Airports Holdings Bhd

Beginning Jan 1, the capital gains tax (CGT) took effect. Many were under the impression that it would be limited to gains or profits from the disposal of unlisted shares in Malaysia based on the Budget 2024 announcement.

Capital gains tax: More than expected

THE idiom “what goes up, must come down” rings true for commodity prices this year. After being the best performing asset class in 2021 and 2022, the momentum that propelled commodities to record highs showed signs of fizzling out since the start of 2023.

While wider geopolitical risks ...

Commodities: Commodity rally loses steam in 2023, subdued outlook ahead

THE global economic recovery has not been what economists had envisioned this year as one growth engine — China — has not been as strong as before. The world’s second largest economy is plagued by a prolonged slowdown in the property sector that has pushed many developers to the brink of bankrupt...

The Year Ahead: 9 factors to watch in 2024

D&O Green Technologies Bhd’s headquarters and production facility are located in the Batu Berendam Free Industrial Zone in Melaka.

While the home-grown company may not employ as many workers or have manufacturing facilities as vast as its semiconductor neighbours Infineon Technologi...

Cover Story: D&O’s future looks bright with global EV agenda

FOUNDER and group managing director of JF Technology Bhd Datuk Foong Wei Kuong was named EY Entrepreneur of the Year (EOY) 2023 Malaysia at a black-tie gala dinner held in early December. He was also the winner of the Master Entrepreneur category.

Foong was selected from 14 top nominees...

JF Technology’s Datuk Foong Wei Kuong is EY Entrepreneur of the Year 2023 Malaysia

LOS ANGELES/BENGALURU (April 23): United Parcel Service (UPS) reported better-than-expected quarterly profit on Tuesday, as cost cuts offset still-soft demand for package delivery.

UPS profit tops expectations as cost-cuts deliver margin

Adobe said on Tuesday it plans to place a tool for full artificial intelligence (AI) image generation in its Photoshop software later this year.

Adobe's image and video editing tools are widely used by creative professionals, but it faces rising competition from start-ups such as Microsoft-backed OpenAI, Midjourney and Stability AI, all of which offer services that can generate images from text prompts.

Adobe to bring full AI image generation to Photoshop this year

KUALA LUMPUR (April 23): DXN Holdings Bhd posted a 43.23% rise in net profit to RM79.02 million for its fourth quarter ended Feb 29, 2024 (4QFY2024), from RM55.17 million a year ago, on the back of higher revenue.

Earnings per share rose to 1.59 sen from 1.14 sen, according to the healt...

DXN’s 4Q net profit up 43%, seeks to expand market presence in Brazil

The Malaysian Oil, Gas & Energy Services Council (MOGSC) has called on oil and gas (O&G) stakeholders, especially financial institutions, not to write off O&G services and equipment (OGSE) players in the energy transition agenda, as they still have a role to play.

Don't forget O&G services and equipment players in energy transition agenda, says industry association

India’s capital market regulator has asked a clutch of global funds to defend themselves against allegations of improper disclosures and market manipulation relating to trading of Adani Group stocks, according to people familiar with the matter.

Indian watchdog said to have queried global funds over manipulation of Adani stocks

TELUPID (April 23): Oil palm smallholders have been urged to take advantage of the palm oil replanting financing incentive scheme (TSPKS 2.0) to increase their income potential.

Deputy Plantation and Commodities Minister Datuk Chan Foong Hin said that a total of RM100 million has been a...

Smallholders urged to apply for palm oil replanting incentive

Bank of England (BOE) chief economist Huw Pill said he is erring on the side of caution in deciding when to cut UK interest rates, saying officials need to remain on guard for risks that inflation persists.

BOE chief economist says he’s cautious on interest rate cuts

China launched its harshest attack to date on US complaints about industrial overcapacity, signalling that Secretary of State Antony Blinken may be in for some difficult conversations during his visit this week.

The US accusation contains “the malicious intention of curbing and suppressing China’s industrial development, aiming to seek a more favourable competitive position and market advantage”, a Chinese diplomat said at a recent briefing, according to a Foreign Ministry statement released on Tuesday.

China condemns US’ overcapacity claim just before Blinken visit

According to CGS Malaysia’s deputy CEO Alan Inn Wei Loon there are plans in the pipeline to grow its PE and venture capital business.

NEWS: CGS plans to grow its PE & VC biz

CGS Malaysia’s chief executive officer Azizah Mohd Yatim says the group has diversified away from solely relying on brokerage income.

NEWS: CGS no longer just a traditional stockbroking house

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

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

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.

Two helicopters crash in Lumut, 10 confirmed killed — RMN

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

KPJ, IHH extend rally as analysts bet on upside

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.

Topmix surges 32% on ACE Market debut

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.

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

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.

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

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.

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

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.

ATX Semiconductor to boost investment in Melaka to RM952m

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;

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

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.

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

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.

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

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 &amp; Large Enterprises).

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

CONSTRUCTION firm GDB Holdings Bhd — which has been embroiled in disputes with KSK Group in the last two years over the development of the 8 Conlay project in Kuala Lumpur — appears to be back on investors’ radar, judging by the recent upward trend in its share price.

According to marke...

GDB Holdings a front runner for several jobs

Cypark Resources Bhd said on Tuesday that its 100MW Large Scale Solar 3 (LSS3) hybrid solar plant project in Merchang, Terengganu, will transition to full commercial operations by next month.

In a statement, the group said the plant consists of 83MWac (megawatt, alternating current) ground-mounted solar photovoltaics and 32MWac floating solar photovoltaics.

Cypark's LSS3 solar plant in Terengganu set for commercial operations next month

<h3>MyEG Services Bhd</h3>

Target price: RM1.15 ADD

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Brokers Digest: Local Equities: MyEG Services Bhd, Mah Sing Group Bhd, Tan Chong Motor Holdings Bhd, Gamuda Bhd 

PETALING JAYA (April 23): Tropicana Corp Bhd is partnering with Maybank Islamic Bhd to provide a home financing solution called Maybank Islamic’s HouzKEY.&nbsp;

Tropicana partners Maybank Islamic to offer HouzKEY home financing solution

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.&nbsp;

Bursa ends higher on buying support from local and foreign institutions

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;

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 The Edge on Tuesday.

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

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.

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

KUALA LUMPUR (April 23): Former Sapura Energy Bhd chief executive officer Tan Sri Shahril Shamsudin has settled his defamation lawsuit against Economics Minister Rafizi Ramli out of court.

Esther Lee

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