KUALA LUMPUR (May 29): CGS-CIMB Research has upgraded Kawan Food Bhd to “Add” at RM1.70 with a higher target price (TP) of RM2 (from RM1.41) and said it deemed Kawan’s 1Q20 core net profit of RM4.8 million to be above expectations from higher-than-expected domestic sales and better cost efficienc...

CGS-CIMB upgrades Kawan Food, raises target price to RM2

We thirst for information, and seek answers; especially in respect of matters of public interest and importance.  The recent withdrawal of the charges and discontinuance of the prosecution against Riza Aziz for serious criminal offences is one such matter.

Discharge not amounting to an acquittal for Riza Aziz — Please tell us why? 

The FBM KLCI settled down 0.98 point at 1,450.75 during Bursa Malaysia’s afternoon break today, though share prices of glove manufacturers including Supermax Corp Bhd rose possibly on news that the US Covid-19 death toll surpassed 100,000.

Supermax up, oil down as US-China spat, Covid-19 dictate sentiment

Thai AirAsia Co Ltd (TAA) may merge with another low-cost carrier (LCC) to clamp down on pricing wars once flights eventually resume in the country, its executive chairman Tassapon Bijleveld told the Bangkok Post.

He was quoted as saying that he already had a conversation with other airlines about the possibility of a merger, but did not disclose details as there was nothing firm yet.

Thai AirAsia considers merger — report

IOI Corp Bhd’s share price fell as much as 15 sen or 3.33% to RM4.35 in morning trade today after the plantation group reported yesterday a significant drop in net profit for the third quarter ended March 31, 2020 (3QFY20).

Yesterday, IOI Corp said its net profit fell to RM100,000 for 3QFY20 from RM245.8 million a year earlier.

IOI Corp shares fall after reporting 3Q profit drop

The FBM KLCI opened higher today as Malaysian shares tracked US equities’ Wednesday overnight rise. As stocks rose today, investors are also mindful of the US-China tension as the world economy contends with the impact of the Covid-19 pandemic.

Malaysia shares up after S&P 500 closes above 3,000 points

FBM KLCI settles down 0.98 point at 1,450.75 at 12:30pm

CGS-CIMB Research expects Telekom Malaysia Bhd (TM) and QL Resources Bhd to be added as FBM KLCI constituents when FTSE Russell announces the results of its upcoming semi-annual review of the FTSE Bursa Malaysia Index Series on June 4.

In a strategy note on May 22, the research house said AMMB Holdings Bhd and Malaysia Airports Holdings Bhd (MAHB) may be replaced by TM and QL Resources.

TM and QL Resources likely to be added to KLCI index — CGS-CIMB

KUALA LUMPUR (May 27): A total of 84 Hindu temples in the green zones are allowed to re-open on June 10 and Malaysia Hindu Sangam (MHS) will soon announce the list of the temples.

In a statement on its website May 23, MHS president Datuk R.S. Mohan Shan said MHS was also allowed by the ...

84 Hindu temples in green zones allowed to re-open on June 10 

Health director-general Datuk Dr Noor Hisham Abdullah said Malaysia reported 187 new Covid-19 cases as at noon today, bringing the nation’s cumulative number of cases to 7,604.

During a press conference at Putrajaya today, Dr Noor Hisham said that out of the 187 reported new cases, 10 were imported while 177 were local.

Covid-19: Daily new cases climb to 187, above 100 for two consecutive days

Richly valued US stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report.

Lofty US stocks leave investors punishing earnings disappointments

Two earthquakes, the largest a 6.1 magnitude, struck Taiwan's eastern county of Hualien on Saturday, the island's weather administration said, with no immediate reports of damage.

The quakes, within half an hour of each other in the early hours of the morning, shook buildings in the capital, Taipei.

Taiwan rattled by quakes again, no immediate reports of damage

Nomination for the Kuala Kubu Baharu state by-election opened at 9am on Saturday at the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Nomination opens at 9am for Kuala Kubu Baharu by-election

US regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp (FDIC) said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers.

US regulators seize troubled lender Republic First, sell it to Fulton Bank

Apple Inc has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.

Apple intensifies talks with OpenAI for iPhone generative AI features

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak to collaborate with rare earth elements company from South Korea, says MB

Global stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen sank to a 34-year low after the Bank of Japan (BOJ) kept monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

Who pays for anytime EPF withdrawals?

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

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

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

KNM Group Bhd said it is seeking court sanction for a new scheme of arrangement with its creditors. The PN17 group is also seeking a further extension of time to submit its regularisation plan.

KNM seeks fresh scheme of arrangement with creditors

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EVENING 5: Five things you need to know today

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

(April 26):&nbsp;HSBC Holdings Plc successfully fought off a London court&nbsp;claim&nbsp;brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co&nbsp;film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUALA LUMPUR (April 26):&nbsp;KPJ Healthcare Bhd, through its premier educational institution&nbsp;KPJ Healthcare University (KPJU),&nbsp;has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise&nbsp;healthcare.

KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

Wall Street rises as Big Tech charges higher

Global&nbsp;stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen&nbsp;sank to a&nbsp;34-year low after the Bank of Japan (BOJ)&nbsp;kept&nbsp;monetary policy loose.

US equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for rate cuts this year.

US equity funds see fourth straight week of outflows amid rate cut reassessment

HULU SELANGOR (April 28): The Ministry of Health (MOH) stands by its decision to amend the Medical Act 1971 (Act 50) to bridge the gap between the parallel pathway programme (PPP) and the local medical degree programme, despite objections from some parties.

Health Ministry stands by decision to amend Medical Act 1971

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp&nbsp;will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel&nbsp;Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

WASHINGTON (April 26):&nbsp;Ukrainian President Volodymyr Zelenskiy called on Friday for additional air defence systems to be sent to Kyiv to help protect against Russian strikes, adding that a pause in US&nbsp;funding had helped Moscow seize the initiative.

Ukraine's Zelenskiy calls for air defence systems as allies meet

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

A weekly round-up of tanker and dry bulk market (April 26, 2024)

Baltic Exchange shipping updates: April 26, 2024

Nomination&nbsp;for the Kuala Kubu Baharu state by-election opened at 9am on Saturday at&nbsp;the Hulu Selangor Multipurpose Hall and District Sports Complex here.

US&nbsp;regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp (FDIC) said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers.

Apple Inc&nbsp;has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.&nbsp;

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