MSM Malaysia’s CEO said he was “constructively dismissed, but the company denies it; PM Najib said MNC investment is proof of confidence in the country and Sumatec signs a deal in Kazakhstan. Jaqueline P’ng has more. </div><div class=inPageAd id=div-gpt-ad-inpage>

EVENING 5: MSM CEO “constructively dismissed”

Joe Biden came into office in 2021 vowing to undo Donald Trump’s harsh policies on the US’s southern border and work with governments across Central America to reduce the motivations for their citizens to head north.

Biden once rejected Trump’s migrant policies but now echoes them

Bursa Malaysia ended lower for the second consecutive day on Tuesday, tracking the weak global sentiment due to the Middle East conflict, said an analyst.

Bursa closes lower, tracking weak global sentiment

KUALA LUMPUR (April 16): Malaysian airlines will be hurt by higher fuel costs, even as escalating geopolitical tensions in the Middle East are not expected to dent ticket sales, analysts said.

Local airlines may feel heat from rising oil prices as Middle East tensions simmer — analysts

Former prime minister Tun Dr Mahathir Mohamad said on Tuesday that the Malaysian Anti-Corruption Commission (MACC) has accused him of abusing power for personal gain.

Mahathir claims MACC accuses him of power abuse for personal gain

Transport Minister Anthony Loke Siew Fook said his ministry has no objection to MMC Corp Bhd divesting a stake in MMC Port Holdings Sdn Bhd, including to foreign entities, as long as it does not contravene the government's policy that requires 51% ownership of major national assets to remain with local companies.

Loke says MMC Port free to sell stake to foreign firms, but govt has to be notified of shareholding changes

Dutch airspace was almost completely closed for nearly three hours late on Monday and early on Tuesday due to a technical outage of air traffic control systems, local authorities said.

Technical outage crippled Dutch air traffic for hours, authorities say

The Ministry of Finance (MOF) has registered the proposed construction of a new highway alignment that will connect Tanjung Malim to Lumut.

Confirming the matter, Menteri Besar Datuk Seri Saarani Mohamad said the construction of the highway is necessary to facilitate export logistics services through the Lumut Maritime Industrial City (LuMIC) when the High Technology Automotive Valley (AHTV) project in Tanjung Malim begins operation.

Perak proposes new highway between Tanjung Malim and Lumut

1Malaysia Development Bhd (1MDB) on Tuesday failed to transfer its case concerning its US$6.59 billion (RM31.58 billion) suit against its former president Arul Kanda Kandasamy and former Treasury secretary general Tan Sri Dr Mohd Irwan Serigar Abdullah from the Civil High Court to the Commercial High Court.

1MDB fails to transfer suit against Arul Kanda and Irwan to another court

HSBC Holdings plc has started a new round of job cuts at its Asia investment bank amid a slump in dealmaking across the region, according to people familiar with the matter.

The London-based lender cut around a dozen bankers across its investment banking division in Asia on Tuesday, one of the people said, asking not to be identified discussing a private matter.

HSBC slashes a dozen investment bankers in Asia on deals slump

The Ministry of Transport (MOT) will seek the views of various parties, including the Royal Malaysian Police and the National Security Council (MKN), in improving the security aspects of airports in the country.

MOT to get views of police, National Security Council to improve airport security, says Loke

The collective wealth of tycoons listed on the 2024 Forbes Malaysia Rich List increased by a modest 2% to US$83.4 billion (RM398.8 billion), according to Forbes Asia.

Wealth of Malaysia’s 50 richest individuals on Forbes list rises 2% — Forbes Asia 

Datuk Abdul Rahman Ahmad will return to Permodalan Nasional Bhd (PNB) as its president and group chief executive effective July 1, 2024, the government-linked investment company said.

CIMB’s Abdul Rahman Ahmad returns to PNB as president, group chief executive

E-government services providers MyEG Services Bhd and HeiTech Padu Bhd have formed a partnership to collaborate on IT projects in Malaysia.

According to separate bourse filings from both companies on Tuesday, MyEG and HeiTech Padu have inked a teaming agreement for the collaboration.&nbsp;

MyEG, HeiTech Padu form partnership to collaborate on IT projects

CIMB Group Holdings Bhd, Malaysia’s second-biggest banking group by assets, said on Tuesday its chief executive Datuk Abdul Rahman Ahmad will step down on June 30.

CIMB says CEO Abdul Rahman Ahmad stepping down on June 30

Alliance Bank Malaysia Bhd’s (ABMB) net profit is expected to jump by 37.3% year-on-year (y-o-y) to RM179 million for the fourth quarter ended March 31, 2024 (4QFY2024), according to AmInvestment Bank Research.

AmInvestment sees Alliance Bank’s 4Q earnings jump by 37% y-o-y

The Ministry of Transport clarified on Tuesday that the higher contract value of RM190.01 million awarded to HeiTech Padu Bhd for Road Transport Department (JPJ) services was only due to a longer extended contract duration.

Loke: Higher contract value awarded to HeiTech Padu due to longer extended duration

Analysts are positive on Malaysia’s pilot green power exports to Singapore using existing infrastructure in both countries, following establishment of the platform enabling cross-border trading of green electricity, the Energy Exchange Malaysia (Enegem).

Analysts positive on pilot green power exports to Singapore; name Tenaga, YTLP as top picks

Global stocks slid to two-month lows, while the dollar rose to its highest in over five months on Tuesday, after stronger-than-expected US retail sales further reinforced the view that the Federal Reserve may not rush to cut interest rates this year.

Stocks slide, dollar up as ‘higher for longer’ rate view takes root 

The automotive industry is not exactly the place one would want to be in the next few years.

Competition among manufacturers of internal combustion engine vehicles, battery electric vehicles (EVs) and hybrid cars has been ongoing for more than a decade now. Last year, some certainty fin...

Alternative Views: Automotive industry feels heat from intensifying EV price war

Carlo Rino Group Bhd has filed for an initial public offering (IPO) that would raise more funds for the apparel company as part of its listing transfer to the ACE Market from the LEAP Market.

Carlo Rino files draft prospectus for listing transfer to ACE Market

Singapore’s Prime Minister Lee Hsien Loong is stepping down on May 15 after two decades in office. Lee, 72, will hand the reins over to his deputy Lawrence Wong, 51, in a widely-telegraphed transition.

What observers are saying as Singapore’s Lee paves way for next PM Wong

Transport Minister Anthony Loke Siew Fook said his ministry has no objection to MMC Corp Bhd divesting a stake in MMC Port Holdings Sdn Bhd, including to foreign entities, as long as it does not contravene the government's policy that requires 51% ownership of major national assets to remain with local companies.

China said it believed Iran could "handle the situation well and spare the region further turmoil" while safeguarding its sovereignty and dignity, referring to an attack on Iran's embassy in Syria and its retaliatory strike over the weekend.

Iran able to 'handle situation' and spare Middle East more tension, China's foreign minister says

Bursa Malaysia ended the morning session lower on Tuesday, in tandem with the weaker regional performance due to a broad sell-off on Wall Street overnight, said an analyst. &nbsp;

Bursa ends morning session lower along with regional peers

Former prime minister Tan Sri Muhyiddin Yassin has requested for a bench of five Court of Appeal (COA) judges to hear his review against the court’s own decision to reinstate abuse of power charges involving RM232.5 million against him.

Muhyiddin seeks five-judge bench to hear criminal charges review

KTI Landmark Bhd (KTI) has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia Securities Bhd.

In a statement on Tuesday, the Sabah-based integrated property developer said the initial public offering (IPO) comprises a public issue of 160 million new shares and an offer for sale of 45 million existing shares, representing 20% and 5.6% of the enlarged share capital of KTI respectively.

KTI Landmark inks underwriting deal with M&A Securities en route to ACE Market listing

RHB Retail Research said Cosmos Technology International Bhd has confirmed a bullish setup after breaking past a key resistance on strong volume.

Cosmos Technology has confirmed bullish setup, says RHB Retail Research 

European Commission President Ursula von der Leyen is unleashing a barrage of trade restrictions against China as she seeks to follow through on a pledge to make the EU a more relevant political player on the global stage.

EU goes on China trade offensive after getting ‘played’ 

Shares of EP Manufacturing Bhd (EPMB) climbed on Tuesday and may be set for its best day in ten months after the auto parts maker signed a 10-year vehicle assembly deal with a Chinese carmaker.

EP Manufacturing shares chart best day in 10 months after assembly deal

RHB Retail Research said Notion VTec Bhd is looking to extend upside movement after staging a bullish breakout.