KUALA LUMPUR (March 7): Shares in most major steel and aluminium counters fell in the morning session today in line with broader market, underpinned by mixed sentiment and news on potential new US tariff.

This group of stocks were said to be impacted by the potential hefty new US tariff...

Steel and aluminium counters reverse gains on mixed sentiment

KUALA LUMPUR (March 7): Shares of builder and pipe manufacturer JAKS Resources Bhd fell as much as seven sen or 4% to RM1.55, amid broader market losses and after JAKS said its 51%-owned unit JAKS Island Circle Sdn Bhd is seeking arbitration to resolve its dispute with Star Media Group Bhd.
...

JAKS drops with KLCI and after co says seeking arbitration

KUALA LUMPUR (March 7): Analysts do not expect Star Media Group Bhd to sustain its dividend payout against the backdrop of challenges faced by the media group.

In a note yesterday, CIMB Investment Bank (CIMB Research) maintained its “Hold” recommendation on Star Media with an unchanged ...

Star Media unlikely to sustain dividend payout, say analysts

SETIA ALAM: Top Glove Corp Bhd, embarking on digital adoption since 2012, intends to reduce  foreign workers in its workforce.

The world’s largest glove maker aims to reduce the ratio of foreign workers to locals to 50%, from 75% presently, over the medium term, according to Top Gl...

Top Glove wants to trim dependency on foreign workers

KUALA LUMPUR: Export growth surged to 17.9% year-on-year in January, from 4.7% in December and ahead of market consensus of 13%, but economists maintain that there will be a moderation in growth this year compared with last year.

They said the export growth will be slower in the second ...

‘January exports jump; growth to slow’

KUALA LUMPUR: IOI Corp Bhd, controlled by tycoon Tan Sri Lee Shin Cheng, said it would pay a special dividend totalling RM722.2 million.

In a filing with Bursa Malaysia yesterday, IOI Corp declared a special dividend of 11.5 sen per share for the financial year ending June 30, 2018 (FY1...

IOI Corp to pay out RM722m in special dividends

KUALA LUMPUR (March 5): IOI Corporation Bhd (IOI Corp), which is principally involved in oil palm cultivation, mainly in Malaysia and Indonesia, has declared a special dividend of 11.5 sen per share for its financial year ending June 30, 2018 (FY18).

The group is also involved in resour...

IOI Corp declares 11.5 sen special dividend

KUALA LUMPUR (March 5): Malaysia’s January 2018 exports grew 17.9% year-on-year (y-o-y) to RM82.9 billion, fueled by stronger demand for electrical and electronic (E&E) products and commodities, which included oil palm goods and liquefied natural gas (LNG).

According to data release...

Malaysia January exports up 17.9% on year, imports 11.6% higher

KUALA LUMPUR (March 2): A top Republican fundraiser close to US President Donald Trump was in negotiations to earn tens of millions of dollars if the US Department of Justice (DOJ) dropped its probe into a multibillion-dollar graft scandal involving 1Malaysia Development Bhd (1MDB), according to ...

Emails indicate Trump ally was negotiating fee for US to end 1MDB probe — WSJ report

KUALA LUMPUR (March 2): theedgemarkets.com highlighted four stocks with momentum at Bursa Malaysia’s afternoon market close today. All four had negative momentum.

The stocks with negative momentum were:

Asdion Bhd – up 1 sen at 16.5 sen

Lee Swee Kiat Group Bhd – up 4...

Asdion, Lee Swee Kiat, Pansar, LBI

(May 8): Brazil's bid to host the 2027 Women's World Cup scored higher than its rival, a joint bid from Belgium, Netherlands and Germany, in a FIFA's evaluation report released on Tuesday.

The world soccer governing body bid report came ahead of the vote at the 74th FIFA Congress in Ban...

Brazil's bid to host the Women's World Cup tops European rival

SYDNEY (May 8): Australia said on Wednesday it would raise the amount of savings international students will need to get a visa and warned several colleges of fraudulent student recruitment practices, as part of efforts to rein in record migration.

From Friday, international students mu...

Australia raises minimum savings for student visa, warns on fake recruitment

Hong Leong Investment Bank Research is keeping its “buy” call on Kuala Lumpur Kepong, with an unchanged target price of RM24.41

MORNING CALL: 8/5/24

KUALA LUMPUR (May 8): Global environmental, social, and governance (ESG) sukuk is expected to cross US$50 billion outstanding globally within the next two years, as issuers aim to meet their funding diversification goals and ESG mandates, alongside new regulatory frameworks and government-led sus...

Global ESG sukuk issuance seen crossing US$50 billion within two years, says Fitch 

JOHOR BAHRU (May 8): Former National and Johor Darul Ta’zim (JDT) skipper Safiq Rahim became the third National footballer to be attacked within a week, although the JDT player’s attack seemed more of a warning than personal harm.

Safiq who was driving a Honda Civic car along Jalan Sri ...

Two suspects on motorcycles break Safiq Rahim's car windscreen in third attack on footballers 

As Malaysia aims to achieve high-income status, it needs to improve its human capital outcomes to match those of high-income countries.

Aspiring to high-income status: Education matters

KUALA LUMPUR (May 8): Global sales of semiconductors jumped 15.2% year-on-yera in the first quarter of 2024 to total US$137.7 billion during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).

In a statement on Tuesday, the industry association...

First-quarter global semicon sales jumped 15.2% y-o-y to  US$137.7 billion, says SIA 

(May 8): Currency markets have started pricing in elevated foreign exchange volatility around the US vote on Nov. 5, even with election day almost six months away.

That concern is particularly pronounced in options betting on the Chinese offshore yuan, with the spread between six- and t...

US election risks are starting to show up in foreign exchange markets

(May 8): China-based ByteDance Ltd. made clear it won’t comply with a new US law requiring it to sell its popular TikTok video-sharing app, setting up what likely will be a prolonged court battle pitting free-speech rights against national-security interests that could end up at the Supreme Court...

TikTok lawsuit sets stage for prolonged legal fight over US ban

(May 8): Donald Trump’s criminal trial for allegedly mishandling classified documents has been postponed indefinitely in a blow to the Justice Department’s efforts to obtain a jury verdict before November’s presidential election.

US District Judge Aileen Cannon, who is overseeing the cr...

Trump judge indefinitely postpones documents case trial

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

Sime Darby Plantation, Pekat, Siab, OCK, Sapura Energy, CTOS, Awantec, Mobilia, Prolintas, Power Root

The takeover bid by Yinson Holdings Bhd’s major shareholder for Icon Offshore Bhd was made at 63.5 sen per share, as wellas 0.1 sen per warrant.

Yinson's major shareholder raises Icon stake to 56.67% as MGO closes

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EVENING 5: Five things you need to know today

KUALA LUMPUR (May 7): Following its record-breaking year in 2023, CTOS Digital Bhd posted a 25.6% year-on-year jump in its first quarter net profit this year, as it recorded higher revenue and lower tax expense following the approval of a tax incentive for its main subsidiary CTOS Data Systems Sdn Bhd (CDS).

CTOS kicks off FY2024 with 25% profit jump on higher revenue, lower taxes

AwanBiru Technology Bhd (Awantec) reported a net profit of RM2.14 million for its third quarter ended March 31, 2024 (3QFY2024), a significant turnaround from the net loss of RM1.99 million it incurred a year ago, as its software and services segment secured major contracts with higher revenue.

Awantec reports profit in 3Q as revenue jumps on new contracts

BATU KAWAN (May 7): The semiconductor industry presents Malaysia with a once-in-a-generation opportunity for exponential economic growth, and industry players are advised to capitalise on this billion-dollar sector, said&nbsp;Deputy Investment, Trade and Industry Minister Liew Chin Tong on Tuesday.

Semiconductor industry offers Malaysia chance for exponential growth — deputy minister

Power Root Bhd's subsidiaries have successfully recovered trademark of its own “Ah Huat” brand for coffee and tea beverages, after reaching an amicable out-of-court settlement with its Indonesian distributor CV Ego Sun Star Sukses Mandiri (CV Ego) following an infringement wrangle that started in 2013.

Power Root reclaims ‘Ah Huat’ brand in Indonesia after decade-long trademark tussle 

The Malaysian Communications and Multimedia Commission (MCMC) will sign a Memorandum of Understanding (MOU) with Microsoft on May 14 to develop a digitally skilled workforce, particularly in the artificial intelligence (AI) sector, through education.

MCMC, Microsoft to ink MOU on digital workforce cultivation next Tuesday — deputy minister 

Urusharta Jamaah Sdn Bhd (UJSB) — a special purpose vehicle established under the Ministry of Finance to rehabilitate, restructure and monetise underperforming assets transferred to it from Lembaga Tabung Haji — has emerged as a substantial shareholder in Prolintas Infra Business Trust.

Urusharta Jamaah emerges as third largest shareholder in Prolintas Infra

GCH Retail (M) Sdn Bhd, the operator of Giant hypermarkets, said the courts are still deciding on the company’s tenancy dispute with its landlord over premises it is currently occupying in Batu Caves.

GCH Retail says Giant Batu Caves tenancy dispute with landlord still being decided by courts

KUALA LUMPUR (May 8): Global sales of semiconductors jumped 15.2% year-on-yera in the first quarter of 2024 to total US$137.7 billion during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).

In a statement on Tuesday, the industry association...

Apple Inc unveiled a new artificial intelligence-focused iPad Pro and a larger iPad Air, aiming to reinvigorate a tablet lineup that has languished over the past two years.

Apple revamps iPads with AI-focused Pro model, bigger Air

KUALA LUMPUR (May 7):&nbsp;The strategic cooperation between the Malaysian Investment Development Authority (Mida) and the Ministry of Higher Education (MOHE) is expected to catalyse the country’s industrial growth, especially in supporting the development of&nbsp;more&nbsp;talents at the global level.&nbsp;

Mida’s strategic cooperation with Higher Education Ministry to accelerate local industrial growth — Zafrul

Home furniture maker Mobilia Holdings Bhd is planning to issue up to 218.75 million free warrants (Warrants-B), on the basis of one Warrant-B for every four existing shares held by entitled shareholders.

Home furniture maker Mobilia plans one-for-four free warrants

A key measure of world indebtedness has resumed its climb as global debt hit a record high of US$315 trillion (RM1.5 quadrillion) in the first quarter of the year, fuelled by borrowing in emerging markets, the US and Japan, a study showed.

Key debt ratio resumes rise as global debt burden hits record US$315 tril, IIF says

The Malaysian Anti-Corruption Commission (MACC) is studying allegations against Housing and Local Government Minister Nga Kor Ming with regards to his announcement of an allocation for infrastructure in Kuala Kubu Bharu (KKB) recently.

MACC looking into minister’s KKB allocation announcement ahead of poll

US stock indexes rose on Tuesday, extending their recent run on expectations that the Federal Reserve will cut interest rates this year, while a drop in shares of Walt Disney following the company's quarterly results limited their gains.

Wall Street extends gains as rate-cut hopes linger

(May 7):&nbsp;PCCW Ltd, the telecommunications group controlled by Hong Kong tycoon Richard Li, is in advanced talks to sell a significant minority stake in its fiber business to China Merchants Group Ltd, according to people familiar with the matter.

Tycoon Richard Li said to near stake sale of telecom group’s fiber unit to China Merchants

TikTok and its Chinese parent company ByteDance said on Tuesday they filed suit in US federal court seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 million Americans or ban its use.

TikTok, ByteDance sue to block US law seeking sale or ban of app

Microsoft Corp has deployed a generative AI model entirely divorced from the internet, saying US intelligence agencies can now safely harness the powerful technology to analyse top-secret information.

Neily Syafiqah Eusoff

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