SINGAPORE (April 15): Agri-food company Japfa has agreed to sell a 25% stake in wholly-owned subsidiary AustAsia Investment Holdings to Japanese dairy giant Meiji for US$254.4 million (S$359.9 million).

Japfa to sell 25% stake in China dairy farming business to Meiji for S$360 mil in strategic partnership

SINGAPORE (April 6): Singapore is injecting another S$5.1 billion in relief measures to help Singaporeans and local businesses tide through a month-long circuit breaker period that kicks in from April 7.

Singapore govt injects additional S$5.1 bil in Covid-19 relief measures as month-long circuit breaker kicks in

SINGAPORE (March 19): The Monetary Authority of Singapore (MAS) has announced the establishment of a US$60 billion (S$86 billion) swap facility with the US Federal Reserve, as part of coordinated central bank actions as global financial markets threaten to collapse under the strain of the Covid-19 pandemic.

The Federal Reserve earlier this week on March 15 had announced the enhancement of the standing US Dollar (USD) liquidity swap line arrangements with five other central banks — the Bank of Canada, the Bank of England, the Bank of Japan, the European Central Bank, and the Swiss National Bank.

MAS establishes US$60 bil swap facility with US Fed to ease liquidity strain

SINGAPORE (March 19): Singapore Exchange Regulation (SGX RegCo) has announced guidelines on measures which issuers could adopt in the holding of general meetings, amid the Covid-19 pandemic.

This comes after the bourse on March 16 announced the SGX Care Package, which includes a grant for qualifying issuers to help them facilitate their annual general meetings (AGMs), even as the country faces social distancing, travel and visitor restrictions due to the coronavirus outbreak.

SGX RegCo urges listed companies to adopt digital tools, other measures in AGMs amid virus outbreak

CGS-CIMB Research is slashing its forecasts for Genting Singapore (GENS), after the integrated resort and casino operator issued a profit guidance to warn that its financial results are expected to be “significantly and adversely impacted” by the coronavirus outbreak.

Genting Singapore forecasts slashed following negative profit guidance: CGS-CIMB

SINGAPORE: Ng Yao Loong, who previously held several senior positions at the Monetary Authority of Singapore (MAS), is set to be the chief financial officer (CFO) of the Singapore Exchange.

He was appointed as the deputy CFO of SGX effective April 1, according to a statement by the local bourse operator on Monday (March 9).

Former MAS senior personnel set to be SGX CFO

SINGAPORE (March 9): Airline gateway services and food solutions provider SATS is slapping on more pay cuts amid the spread of the novel coronavirus (Covid-19).

On Feb 19, SATS had already unveiled a series of cost reduction measures, including a 10% reduction in pay for the senior management team.

SATS announces further pay cuts, warns Covid-19 expected to 'substantially' impact earnings

SINGAPORE (March 9): Businesses in Singapore are now able to reconcile both receivables and payments involving suppliers and vendors, allowing corporations dealing with large volumes to effectively manage their cash flow.

This is thanks to the Virtual Account (VA) launched by CIMB Bank Singapore late last month.

CIMB Bank's Virtual Account helps Singapore businesses to cut inefficient manual processes

In a regulatory filing close to midnight on March 5, Mainboard-listed TEE International has revealed that its founder and former Group Chief Executive Officer Phua Chian Kin has been interviewed by the Commercial Affairs Department (CAD).

TEE International's ex-CEO Phua Chian Kin hauled up by CAD for probe

A summary report by external investigator PricewaterhouseCoopers Risk Services (PwC) on Mainboard-listed TEE International has revealed several potential breaches of the Companies Act as well as possible non-compliance with Singapore Exchange (SGX) Listing Rules and the Code of Corporate Governance.

Independent investigation into TEE International unearths potential legal breaches: PwC

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

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 

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

EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.

EUPE Corp net profit surges 28.9% in 4Q, driven by strong property sales

CGS International has cut its earnings estimate for Inari Amertron Bhd as recent data flagged weakened smartphone demand, according to its research note on Thursday.

CGS International cuts Inari Amertron earnings forecast on weak smartphone demand

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 

In today’s edition of Evening 5: 00:00 EPF unveils the details of flexible Account 3 02:07 AAX to buy Capital A’s airline business for RM6.8 bil 03:47 DNB adds five new members to its board 04:58 PM denies claims about a Forest City casino 05:51 Pantech mulls listing two subsidiaries

EVENING 5: EPF unveils the details of flexible Account 3

Infoline Tec Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

Infoline Tec seeks transfer from ACE Market to Main Market

EVENING 5: Five things you need to know today

Sports retailer Al-Ikhsan Sports Sdn Bhd, in which state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) owns a 35% stake, has appointed Datuk Hishammudin Hasan as its new chief executive officer effective April 17.

Ekuinas-backed Al-Ikhsan Sports names former 7-Eleven head as CEO

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.

Prime Minister Datuk Seri Anwar Ibrahim on Thursday denied claims that the government will issue a licence for the operation of a casino in Forest City, Johor.

PM denies claims that govt issuing casino licence for Forest City

IOI Properties Group broke ground on Thursday for Senna Puteri, its latest township development located in Sepang, Selangor. The developer is looking to launch 386 units of townhouses in its first phase before the end of the second quarter.

Spanning 117 acres in southern Klang Valley, the 12-phase Senna Puteri will be developed over the next 10 years, offering residential, commercial, recreational areas, green spaces, community hall, surau and more. It has a gross development value (GDV) of over RM3 billion.

IOI Properties breaks ground for 117-acre Senna Puteri in Sepang

JOHOR BAHRU (April 25): The Johor branch of the Malaysian Quarantine and Inspection Services Department (Maqis) found parasitic worms Anisakis sp in samples of sardine cans from China that were brought in through the Sultan Iskandar Building (BSI) here, earlier this month.

Parasitic worms Anisakis sp found in canned sardines from China — Johor dept

The Malaysian Anti-Corruption Commission (MACC) has confirmed that former prime minister Tun Dr Mahathir Mohamad is among individuals under investigation by the commission.

Azam Baki confirms Dr M among individuals under MACC probe

KUALA LUMPUR (April 25): Former prime minister Datuk Seri Najib Razak had never instructed 1Malaysia Development Bhd’s (1MDB) management to transfer a total US$1.03 billion to Good Star Ltd, a company linked to the fugitive Low Taek Jho (Jho Low), the court heard on Thursday.

Najib never instructed 1MDB management to transfer monies to Good Star — witness

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

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

Luxchem Corp Bhd’s net profit for the first quarter ended March 31, 2024 (1QFY2024) surged over 54% to RM11.56 million or 1.08 sen per share from RM7.5 million or 0.7 sen per share a year earlier on the back of stronger earnings from both its trading and manufacturing segments.

The industrial chemical and material group’s revenue rose 19.8% to RM183.15 million versus RM152.83 million a year ago as driven by its trading and manufacturing segments, according to a bourse filing on Thursday. &nbsp;

Luxchem 1Q net profit up 54% on stronger trading and manufacturing segment

Shares of CapitaLand Malaysia Trust (CLMT) surged on Thursday to its highest in nearly four years while analysts remained upbeat following better-than-expected first-quarter (1Q) results.

CapitaLand Malaysia Trust surges to near four-year high after strong 1Q

JRG Minerals Sdn Bhd is collaborating with Shandong Huaxin Industry Co Ltd for a development project in Kuantan, Pahang, with an estimated value of RM15 billion.

JRG Minerals teams up with Shandong Huaxin for RM15b development project in Pahang

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

The Council of Palm Oil Producing Countries (CPOPC) has called on the European Union to delay the implementation of deforestation rules by at least a year for small businesses, its secretary general said on Thursday.

Palm oil producers urges EU to delay deforestation rules for small businesses

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

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

SEPANG (April 25): A&nbsp;manager of a tour agency company pleaded not guilty at&nbsp;the Sessions Court here on Thursday to charges of attempting to murder his wife and causing injury to the woman’s bodyguard.

KLIA shooting: Company manager charged with attempted murder of wife

CGS International has cut its earnings estimate for Inari Amertron Bhd as recent data flagged weakened&nbsp;smartphone demand, according to its research note on Thursday.

The government’s move to introduce a progressive wage policy is the right approach to boost labour productivity in Malaysia, according to a World Bank economist.

Progressive wage policy right approach to boost growth in Malaysia's labour productivity — World Bank economist 

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.

Jude Chan

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