SINGAPORE (May 16): Yesterday, the new Pakatan Harapan (PH)-led government announced that Malaysia’s 6% goods and service tax (GST) will be zero-rated from Jun 1 onwards, effectively abolishing it.

Malaysia’s newly elected prime minister, Mahathir Mohamad, had vowed during his campaign ...

Is Malaysia's farewell to its GST a little too rushed?

SINGAPORE (May 17): Asian Pay Television Trust (APTT) on May 14 announced an ordinary interim distribution of 1.625 cents per unit in 1Q18, which remained consistent compared with 1Q17.

Revenue for the quarter was 6.8% lower at S$77.0 million, from S$82.6 million a year ago, negatively ...

Asian Pay Television Trust posts 1Q DPU of 1.625 cts; gets upgraded to 'Buy' on share price weakness

SINGAPORE (May 17): UOL Group has submitted the only and winning bid of S$1.035 billion to acquire the residential site at Silat Avenue.

The leasehold site at Silat Avenue has a tenure of 99 years and a total site area of 245,972 sf. The area is allowed to be developed into a residentia...

Sole bidder UOL JV snaps up Silat Ave site for S$1.04 bil in URA tender

SINGAPORE (May 16): First Resources reported a 44% fall in 1Q18 earnings to US$27.7 million (S$37 million) and a 40% fall in 1Q18 profit from operations to US$43.3 million.

The weaker bottomline was mainly due to the effects of inventory build-up and lower average selling prices (ASP).<...

Analysts positive on First Resources' growth despite weak 1Q results

SINGAPORE (May 15): Moneymax Financial Services announced that its 1Q18 earnings have increased by 85.9% to S$2.17 million, compared with S$1.17 million in 1Q17.

Revenue was 12.1% higher at S$37.3 million, from S$33.3 million a year ago, due to revenue growth in both the pawnbroking, as...

Moneymax 1Q earnings surge 85.9% to S$2.17 mil on higher revenue and other gains

SINGAPORE (May 15): SIA Engineering Company (SIAEC) reported 4Q18 earnings increased 19.8% to S$55.0 million, compared with S$45.9 million in 4Q17.

This brings FY17 earnings to S$184.1 million, 44.6% lower than S$332.4 million in FY17, as FY17’s profit included a one-off divestment gain...

SIA Engineering posts 19.8% increase in 4Q earnings to S$55 mil; declares 9 cents dividend

SINGAPORE (May 14): CNMC Goldmine says 1Q18 earnings surged almost ninefold to US$0.53 million (S$0.71 million), compared to US$0.05 million in 1Q17.

Revenue for the quarter was 29.0% higher at US$6.10 million from US$4.73 million a year ago, due to an increase in the production and sal...

CNMC Goldmine's 1Q earnings surge ninefold to S$0.71m

SINGAPORE (May 14): Silverlake Axis reported 3Q18 earnings fell 93% to RM29.0 million (S$9.74 million) from RM398.4 million in 3Q17.

This brings 9M18 earnings to RM93.4 million (S$31.4 million), 89% lower compared to RM813.3 million in 9M17.

Revenue for the quarter came in at ...

Silverlake posts 93% drop in 3Q earnings to RM29m on significantly lower other income

SINGAPORE (May 14): Thomson Medical, formerly known as Rowsley, says first quarter losses widened to S$6.5 million in 1Q18 from S$1.55 million in 1Q17.

Revenue was 9% lower at S$20.6 million compared to $22.6 million last year, mainly due to the consultancy business which has declined a...

Thomson Medical's 1Q losses widen to S$6.5m

SINGAPORE (May 14): The hotel arm of City Development Ltd (CDL), Millennium Hotels and Resorts announced that Chinese guests are now able to pay for their accommodations and dining via WeChat Pay.

This will be available at all six of its hotels in Singapore — Orchard Hotel Singapore, Gr...

City Development's hotel arm now accepts WeChat Pay at its hotels

The Ministry of Energy Transition and Water Transformation (Petra), in collaboration with The National Water Services Commission (SPAN), is poised to establish and devise the framework for implementing transformative measures in the water services sector over the next decade.

Fadillah: Petra, SPAN to drive implementation of transformative measures for water services sector

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

KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.

Critical point failure could’ve led to fatal Lumut chopper crash, says expert

KOTA BHARU (April 23): The man involved in the shooting incident at the Kuala Lumpur International Airport (KLIA) in Sepang on April 14 will be charged in a Kota Bharu court on Wednesday (April 24), according to the police.

KLIA shooting suspect to be charged in Kota Bharu on Wednesday

Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

Sarawak eyeing partnership with UK companies to boost semicon capabilities

Malaysia's education system must be synonymous with the development of the country, said Higher Education Minister Datuk Seri Zambry Abd Kadir.

Zambry: Education system must be synonymous with country’s development

IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.

Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

The M503-3 Maritime Operations Helicopter (HOM) that was involved in a crash Tuesday morning was used for the first time in the flyby for the 90th Royal Malaysian Navy (TLDM) Anniversary parade.

Downed HOM chopper used for the first time in flyby, says defence minister 

BENGALURU (April 23): Gold prices extended losses for a second day to hit a more than two-week low on Tuesday, as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of key US economic data this week.

Gold drifts lower for second day as Middle East fears subside

Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.

Wall Street gains on bright earnings, megacaps' support

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)

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

While Sapura Energy Bhd has resolved one key condition of its reset plan, analysts did not change their recommendations on the group, as there is still an arduous journey ahead for the group to address its balance sheet position.

Sapura Energy not out of the woods yet as large debts still in its way

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

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.

Ex-Sapura Energy CEO Shahril settles defamation suit against Rafizi

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

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

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

Construction and engineering contractor Crest Builder Holdings Bhd said it had secured a condominium project valued at RM486 million in Mont Kiara. &nbsp;

The project, awarded by Kiaramas Development Sdn Bhd, involves the construction of three blocks of condominiums with car park podiums in Jalan Desa Kiara.&nbsp;The contract period is 42 months from May 2, according to Crest Builder in a filing with Bursa Malaysia on Tuesday.

Crest Builder bags RM486m condominium project in Mont Kiara

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

GLOBETRONICS Technology Bhd, an established outsourced semiconductor assembly and test (OSAT) player, is planning to move up the value chain by diversifying into advanced packaging to ride the wave of rising demand for such services.

It also expects advanced packaging to be its future r...

Globetronics to venture into advanced packaging on back of rising demand

The defence in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial will contest the 25 abuse of power and money-laundering charges levelled against former prime minister Datuk Seri Najib Razak.

Shafee: 1MDB-Tanore charges 'all wrong', will mount challenge

Following its demerger from CIMB Group Holdings Bhd, CGS International Securities Malaysia (CGS Malaysia) is aiming for a compound annual growth rate (CAGR) of about 15% to 20% in revenue over the next three to five years.

Following demerger, CGS Malaysia aims for 15%-20% CAGR in revenue over next five years

Malaysia still has the advantages for the “China plus one” (China+1) strategy, despite facing rising competition from its neighbouring countries, according to the Socio-Economic Research Centre (SERC).

Malaysia still front runner for China+1 strategy despite rising competition from regional countries, says SERC

KomarkCorp Bhd, which lost its defamation suit against The Edge Communications Sdn Bhd in the High Court last month, is appealing against the court's decision, which found that the media company had not defamed it in an article about the manipulation of penny stocks that was published nearly three years ago.

KomarkCorp appeals against High Court's ruling that The Edge did not defame the company

KUALA LUMPUR (April 23):&nbsp;The Iskandar Regional Development Authority’s (IRDA) target to achieve&nbsp;cumulative investments of RM636 billion by 2030 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness.

Iskandar Malaysia’s RM636b investment target to help propel country into world's top 30 economies — PM

KUALA LUMPUR (April 23): Grade A prime office spaces continue to be in demand with improving vacancy and rental rates due to the flight to quality trend among tenants, according to JLL (Malaysia), as discussed in its JLL’s 1Q2024 Greater Kuala Lumpur Property Market Monitor launch on Tuesday.&nbsp;

Grade A prime office spaces continue to be in demand — JLL (Malaysia)

The bodies of the 10 victims involved in the mid-air collision and crash involving two helicopters at the Royal Malaysian Navy (RMN) base in Lumut were recovered earlier on Tuesday.

Police confirm all bodies recovered from helicopters' crash

KUALA LUMPUR (April 23): Gadang Holdings Bhd said it will appeal to the Economic Planning Unit (EPU) for a waiver of the Bumiputera equity requirement to facilitate its acquisition of a 21.08-acre land in Kwasa Damansara.

In a bourse filing on Tuesday, the builder-cum-property developer...

Gadang to lodge appeal over Bumi equity requirement in Kwasa Damansara land acquisition 

Comfort Gloves Bhd said there was a fire at the glove maker’s newly-built three storey warehouse and packing department in Taiping, Perak on Tuesday morning.

“The cause of the fire and the actual extent of the damage are currently still unknown, pending the completion of police investigations into the fire and issuance of their report,” the group said in a bourse filing.

Samantha Chiew

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Samantha Chiew

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