KUALA LUMPUR (April 27): Polymer Link Holdings Bhd, a manufacturing company for compounded and non-compounded plastic powder, rose as much as three sen or 25% from its offer price of 12 sen, at the company's debut on Bursa Malaysia's Leading Entrepreneur Accelerator Platform (LEAP) Market.

...

Polymer up 25% on LEAP Market debut

KUALA LUMPUR: Sime Darby Bhd has proposed a divestment of its China-based water management business, Weifang Sime Darby Water Management Co Ltd (Weifang Water) for US$68 million or 450 million yuan (RM274.72 million).

“The divestment is part of Sime Darby Bhd’s strategy to rebalance its...

Sime Darby plans to sell Weifang Water for RM275m

KUALA LUMPUR (July 2): Pacific Mutual Fund Bhd, an investment management company under the OCBC Group, said it remains positive on the markets, but expects greater market volatility ahead for the second half of 2018 (2H18).

In a statement today, Pacific Mutual chief executive officer an...

Pacific Mutual optimistic on markets but says more volatility expected in 2H18

KUALA LUMPUR (July 2): AIA Bhd has teamed up with Kuala Lumpur City Hall (DBKL) to launch an outdoor gym at Taman Metropolitan Kepong, as part of its commitment to encourage Malaysians to stay active and healthy. 

“Over the past decade, we have seen the alarming rise of diabetes an...

AIA to launch outdoor gym at Kepong park for healthier Malaysian lifestyle

KUALA LUMPUR (July 2): Sime Darby Bhd has proposed a divestment of its China-based water management business, Weifang Sime Darby Water Management Co Ltd (Weifang Water), for US$68 million or RMB450 million (around RM275 million).

"The divestment is part of Sime Darby's strategy to rebal...

Sime Darby to sell China-based water management biz for RM275m

KUALA LUMPUR (June 29): Progressive taxes and social transfers such as targeted handouts can be very effective in reducing income inequality, provided they are enforced under an effective democracy, said a World Bank economist at a forum here today.

Speaking at the forum on cost of livi...

Progressive tax, social transfers effective in reducing inequality, says World Bank economist

KUALA LUMPUR (June 29): The new government could do better by communicating more effectively with all stakeholders when forming policies, conceded a Pakatan Harapan Member of Parliament today.

Speaking at a forum here today, Lembah Pantai MP Fahmi Fadzil said that the government has to ...

Better communication with stakeholders needed on policymaking, says MP

KUALA LUMPUR: The Japanese Chamber of Trade and Industry Malaysia (Jactim) has urged the Pakatan Harapan government to review a central bank regulation that exporters retain only 25% of export proceeds in foreign currency and to convert the balance 75% into ringgit.

Speaking at a press ...

Jactim calls on government to review BNM limit on forex proceeds

KUALA LUMPUR: The Japanese Chamber of Trade and Industry Malaysia (JACTIM) has urged the Pakatan Harapan Government to review a Bank Negara regulation that exporters retain only 25% of export proceeds in foreign currency and convert the balance 75% into ringgit.

Speaking at a press conf...

JACTIM calls on Malaysian government to review BNM limit on forex proceeds

KUALA LUMPUR (June 28): The Japanese Chamber of Trade and Industry Malaysia (JACTIM) said a majority of Japanese companies operating in Malaysia want to see minimum wage increases which are commensurate with economic growth.

“Our basic concern is the speed and increase of the minimum wa...

Japanese firms in M'sia call for minimum wage hikes that reflect economic growth, says JACTIM

LONDON (April 26): One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other -- Sunday's short trip to arch-rivals Tottenham Hotspur.

Like all big city derbies, pride and bragging rights are always...

Arsenal face derby test with title up for grabs

(April 26): Foreign states are using UK universities to “steal advantage” by covertly acquiring British intellectual property, the government warned, saying it would explore proposals to protect cutting-edge research and technology.

After an internal review found other countries are tar...

UK warns universities about research threat from foreign states

(April 26): The Tesla Inc. shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 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.

Tesla inves...

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

(April 26): 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....

Trump advisers discuss penalties for nations that move away from the dollar

NEW YORK/LONDON (April 26): Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram owner Meta hammered the tech sector, and Japan's yen sank through 155 per dollar for the first time since 1990.

Tepid U.S. GDP data pushed Wall Street...

Equities fall amid earnings gloom, as persistent inflation lifts Treasury yields

(April 26): Boeing's credit rating faced pressure for a second time this week as S&P brought the company one step closer to a junk rating on Thursday after a January mid-air blowout of a cabin panel led the planemaker to slow production of its best-selling jet.

The rating agency cha...

S&P slashes Boeing credit outlook as rating hovers above junk status

WASHINGTON (April 26): The Federal Communications Commission said on Thursday it is ordering the U.S. units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the United States.

The FCC said it was requiring the Chinese carrie...

Agency bars Chinese telecom carriers from offering US broadband services

NEW YORK (April 26): Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms META.O.

Data on...

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

(April 26): Alphabet announced its first-ever dividend on Thursday and a $70 billion stock buybuck, cheering investors who sent the stock surging nearly 16% after the bell.

The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals ...

Google parent Alphabet announces first-ever dividend, shares soar

BRIGHTON, England (April 26): Phil Foden struck twice as Manchester City stepped up their bid for a fourth Premier League crown in a row with a ruthless 4-0 victory at Brighton & Hove Albion on Thursday.

A day after Liverpool's title challenge suffered a huge blow with a 2-0 defeat ...

Man City humble Brighton to keep pressure on Arsenal

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.

AirAsia X to buy Capital A's aviation business for RM6.8b via share and debt deal 

Chin Teck Plantations Bhd’s net profit surged sevenfold for the financial quarter ended Feb 29, 2024 (2QFY2024) thanks to higher palm oil production as well as lower operating and administrative expenses.

Chin Teck’s 2Q net profit up sevenfold

MKH Oil Palm (East Kalimantan) Bhd (MKHOP), the plantation arm of property developer MKH Bhd, reported RM16.02 million net profit on the back of RM86.05 million revenue for the second quarter ended March 31, 2024 (2QFY2024), ahead of its listing on Bursa Malaysia’s Main Market.

MKH Oil Palm posts RM16 mil net profit in 2Q, q-o-q up 44% ahead of Main Market listing

Global semiconductor firm Nasdaq-listed TTM Technologies Inc has invested US$200 million (about RM958 million) for its first manufacturing plant in Malaysia.

Nasdaq-listed TTM Technologies invests RM958 mil for manufacturing plant in Penang

Practice Note 17 (PN17) company Khee San Bhd will increase the allotment underwritten in its proposed rights issue after Ng Meng Kee ceased to be a substantial shareholder and requested to discharge his undertaking.&nbsp;

Khee San revises underwriting of rights issue after substantial shareholder ceases to be, withdraws undertaking

Pantech Group Holdings Bhd is considering to list two wholly-owned subsidiaries — Pantech Stainless &amp; Alloy Industries Sdn Bhd and Pantech Steel Industries Sdn Bhd — on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV).

Plans for this are still at the preliminary stage and extensive preparatory work needs to be carried out, Pantech said in a bourse filing on Thursday.

Pantech mulls listing two subsidiaries on Main Market via SPV

ViTrox Corp Bhd saw its net profit nearly halved for the financial quarter ended March 31, 2024 (1QFY2024), primarily due to unfavourable product mix and higher research and development (R&amp;D) expenditures to support the introduction of new products.

ViTrox 1Q’s net profit nearly halved, extending declining profits to five quarters

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

Construction company Inta Bina Group Bhd has secured a contract worth RM224.8 million to develop a 38-storey business serviced apartment in Subang Jaya.

Inta Bina bags RM224.8m job to build business serviced apartments in Subang Jaya

The newly constituted board of Digital Nasional Bhd (DNB) will convene a meeting soon to review due diligence findings and address the remaining conditions precedent in the share subscription agreements (SSAs), said Digital Minister Gobind Singh Deo.

DNB's new board to review due diligence findings, finalise share subscription agreements soon — Gobind

While March’s headline inflation of 1.8% year-on-year (y-o-y) came in slightly lower than consensus expectations of 2%, economists are maintaining their projection that Malaysia's headline inflation will progressively accelerate towards the end of the year on account of the government's fuel subsidy rationalisation plan, utility tariff hikes, and its recent adjustments of the service tax.

Inflation to pick up soon on fiscal consolidation measures after weaker-than-expected March print — economists

Pavilion Real Estate Investment Trust (PavREIT) reported that its first quarter net property income (NPI) jumped 33.2% year-on-year, thanks largely to contribution from its newly acquired mall, Pavilion Bukit Jalil. The increase was also attributed to higher occupancy rates and higher revenue rent from its other retail malls.

PavREIT’s 1Q NPI jumps 33%, pays 2.48 sen distribution per unit

US economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.

US economic growth slows more than expected in first quarter

KUALA LUMPUR (April 25): The Companies Commission of Malaysia (SSM) expects more companies to utilise the new corporate rehabilitation framework introduced by the Companies (Amendment) Act 2024, which came into force on April 1.

SSM expects more companies to utilise new corporate rehabilitation framework

The Malaysian Anti-Corruption Commission (MACC) has served a senior police officer arrested on suspicion of protecting an illegal syndicate in the country's capital a notice to declare his assets before April 28.

Senior police officer arrested for alleged corruption given until April 28 to declare assets to MACC

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EVENING 5: Five things you need to know today

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told Reuters on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.

US growth may get revised up, inflation will ebb

PARIS (April 25): French President Emmanuel&nbsp;Macron&nbsp;appealed on Thursday for stronger, more integrated European defences and said the continent must not become a vassal of the United States, as he&nbsp;outlined&nbsp;his vision for a more assertive European Union (EU)&nbsp;on the global stage.

'Europe could die,' Macron warns, as he calls for stronger defences

Prime Minister Datuk Seri Anwar Ibrahim on Thursday gave assurance that the revised Public Service Remuneration System (SSPA), which will be announced soon, will be the best ever introduced in the country.

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