A mistake was made in an article on page 20 of the Newsmakers pullout in the latest issue of The Edge Malaysia weekly (Issue 1504, Dec 25, 2023), where it was wrongly stated that Berjaya Corp Bhd had in November 2023 emerged as the controlling shareholder of Salcon Berhad with a 14.54% stake. Berjaya is the single largest shareholder, and not the controlling shareholder of Salcon, which has three other long-time substantial shareholders and partners — Tan Sri Tee Tiam Lee (12.55%), Datuk Leong Kok Wah (10.58%) and Datin Goh Phaik Lynn (10.58%).

We apologise for the error.

Correction to article on Salcon

AwanBiru Technology Bhd (AwanTec), formerly known as Prestariang Bhd, saw its net loss in the first financial quarter ended Sept 30, 2021 (1QFY22) widen to RM1.68 million from RM968,000 a year ago on lower revenue.

Quarterly revenue declined by almost 67% to RM11.76 million from RM35.5 million due to lower revenue generated from its software & services and talent segments, according to the bourse filing to Bursa Malaysia.

AwanBiru 1Q net loss widens on lower revenue

This article has been updated to reflect that retailers could lose up to 30%-40% of their annual revenue from the tobacco excise tax in duty-free areas.

Retailers could lose up to 30%-40% of their annual revenue from the tobacco excise tax in duty-free areas.

In a statement today, the Langkawi Chinese Chamber of Commerce urged the government to reconsider imposing excise tax on cigarettes in all duty-free areas.

Retailers could lose up to 30%-40% of annual revenue from tobacco excise tax in duty-free areas, says chamber

Citigroup strategists downgrade AirAsia Group Bhd to neutral from buy and raise their price estimate to RM3.01 from RM2.92 as they expect dividend yields to generate 5.6% total return.

Citi downgrades AirAsia to neutral; raises price target by 3%

KUALA LUMPUR (May 23): In an earlier article based on a report by Frost & Sullivan entitled “New Government in Malaysia — Implications for the Energy Sector” issued on May 22, any link between its analysis of a review of government policies on the energy sector to the decline in the prices of...

Correction on article quoting Frost & Sullivan’s Malaysia energy sector report

SINGAPORE (Jan 15): Singapore eDevelopment, previously known as CCM Group, says it is expecting to report a loss for FY2015 ended December.

The group attributed this to development costs and operating expenses incurred for Hotapp. Its major property development projects, Ballenger Run a...

Singapore eDevelopment expects losses for FY2015

We refer to the article published on Nov 3, 2015 "Hibiscus unaware of reason behind UMA",  which stated that Affin Hwang had forced sold Hibiscus shares owned by its clients because of margin calls. We have now established that while there were some forced selling of Hibiscus shares due to m...

Hibiscus unaware of reason behind UMA

SINGAPORE (June 3): M1, Singapore’s smallest telco, has the best 4G connectivity of the three operators, according to an inaugural survey of some 4,000 users conducted by Infocomm Development Authority (IDA).

M1 users took an average of 35.4 milliseconds to set up a local connection on ...

M1 pips bigger rivals in connectivity, data download speed, IDA data shows

Our report "Sarine Technologies price target cut 5.7% to $2.98 by Maybank Kim Eng" on March 6 was based on a research note dated Nov 10, 2014, and does not reflect the broking house's latest views. Maybank Kim Eng's current price target is $3.13. It has a "buy" recommendation. The error ...

Sarine Technologies kept at "buy" with $3.13 target by Maybank Kim Eng

SINGAPORE (Feb 4): Different retirement sums for different needs, an option to withdraw up to 20% of savings in a lump sum, and a choice to defer withdrawal in exchange for higher monthly payouts.

These are some of the recommendations released today by a government-appointed panel set u...

Advisory panel unveils recommendations to improve CPF system

(ITS corrects volumes for Nov. 1-20 to 837,659 tonnes from 837,329 tonnes)

    
KUALA LUMPUR (Nov 20): Exports of Malaysian palm oil products for Nov. 1-20 fell 6.4 percent to 837,659 tonnes from 894,697 tonnes for Oct. 1-20, cargo surveyor Intertek Testing Service...

Malaysia's Nov 1-20 palm oil exports down 6.4 pct m/m -ITS

Oil prices edged up on Friday on the prospect of Opec+ continuing output cuts, but the crude benchmarks were headed for the steepest weekly losses in three months on demand uncertainty and easing tensions in the Middle East reducing supply risks.

Oil prices set for steepest weekly drop in three months

SVB Financial Group, the former parent company of Silicon Valley Bank, said it reached a deal to sell its venture capital unit to a newly created affiliate of Pinegrove Capital Partners.

SVB Financial to sell venture capital business to Pinegrove

Money is pouring into Taiwan exchange-traded funds as investors scramble for exposure to the artificial intelligence supply chain, raising analyst and regulator caution just as a rally in the sector has turned fickle and volatile.

Investors flood into Taiwan ETFs on AI boom, unnerving some

Thailand's headline inflation rate rose for the first time in seven months in April but remained below the central bank's target range of 1% to 3% for a 12th consecutive month, data showed on Friday.

Thai inflation rate positive in April, still below central bank target

US job growth probably slowed to a still-solid clip in April, with wages maintaining their steady rise, which would allay fears that the economy was stalling after activity pulled back considerably in the first quarter.

Solid US job, wage growth expected in April

Top Australian investment bank Macquarie Group reported its annual profit fell by a third, the sharpest decline in 15 years, as stabilising energy markets hammered its commodities trading unit and it made less money selling green energy assets.

Australia's Macquarie sees biggest profit dip in 15 years on commodities downturn

Hong Kong's securities regulator started an insider dealing prosecution against hedge fund Segantii Capital Management, its founder and a former trader, the watchdog said on Thursday.

Hong Kong regulator brings insider trading charges against Segantii, founder

Shares of Ajinomoto (Malaysia) Bhd surged to their highest in nearly six years after the food and seasoning company announced the ex-date for its special dividend.

Ajinomoto Malaysia surges to highest in nearly six years

Recently, the Court of Appeal ruled that it is mandatory to refer an employee’s dismissal complaint to the Industrial Court if the director-general of industrial relations (DGIR) cannot resolve the matter.

Prior to the amendments to the Industrial Relations Act 1967 (IRA 1967), the DGIR...

My Say: What employers must ensure, now that all dismissal complaints must be referred to the Industrial Court

KUALA LUMPUR (May 3): Digital Nasional Bhd (DNB) will hold a meeting next week to review due diligence findings on the 5G network rollout, Digital Minister Gobind Singh Deo said on Friday.

Digital Nasional to meet next week to discuss due diligence on 5G network — minister

Shares of Ajinomoto (Malaysia) Bhd surged to their highest in nearly six years after the food and seasoning company announced the ex-date for its special dividend.

Malaysia’s planned increase in civil servant salaries will boost earnings of RCE Capital Bhd, which mainly provides consumer financing to government employees, Maybank Investment Bank (Maybank IB) said and upgraded the stock to ‘buy’.

Higher civil servant salaries will boost RCE Capital's earnings, says Maybank IB

KUALA LUMPUR (May 3): Digital Nasional Bhd (DNB) will hold a meeting next week to review due diligence findings on the 5G network rollout, Digital Minister Gobind Singh Deo said on Friday.

Asian stocks rallied on Friday after Apple's record US$110 billion (RM523.15 billion) share buyback plan lifted the tech sector, while the yen put more distance from recent 34-year lows to cap a tumultuous week that saw suspected interventions from Tokyo.

Asian stocks surge on tech boost; yen extends gains to cap wild week

The rally in tech heavyweights extended into late hours after better-than-estimated results from&nbsp;Apple Inc, with the iPhone maker also raising its dividend and announcing plans to buy back more stock.

Tech jumps in late hours on Apple’s solid outlook

Türkiye&nbsp;stopped all exports and imports to and from Israel as of Thursday, the Turkish trade ministry said, citing a "worsening humanitarian tragedy" in the Palestinian territories.

Türkiye halts all trade with Israel, cites worsening Palestinian situation

Hong Kong stocks are on their longest-winning streak since 2018, adding to signs that a recovery in one of the worst-performing markets last year is well underway.

Hong Kong stocks are on their longest winning streak since 2018

Apple's quarterly results and forecast beat modest expectations on Thursday, as the iPhone maker unveiled a record share buyback program, sending its stock up almost 7% in extended trade.

Apple unveils record US$110b buyback as results beat low expectations

Frontken Bhd expects a stronger performance in the second half of this year (2HFY2024) after its first quarter results came in within expectations, according to Philip Capital.

Frontken expects stronger performance in 2H — Philip Capital

KUALA LUMPUR (May 3): Engineering firm UUE Holdings Bhd said on Friday that it has signed an agreement with M&amp;A Securities to underwrite its initial public offering (IPO) on the ACE Market.

UUE signs underwriting deal with M&A Securities for ACE Market IPO

Lotte Chemical Titan Holding Bhd (LC Titan) is expected to face widening core losses in the second quarter ending June 30, 2024 (2QFY2024) from lower sales volume and weak product spread, according to TA Securities.

Lotte Chemical Titan to face widening losses in 2QFY2024 on lower volume, weak product spread, says TA Securities

Malayan Cement Bhd will likely report strong third quarter earnings when the company reports its results by this month-end, as volume and average selling prices stay high, CGS International said.

Malayan Cement likely to report strong 3Q results, says CGS International

As the latest purchasing managers’ index (PMI) data indicated a softer contraction in Malaysia's manufacturing sector in April, economists are expecting the country's manufacturing condition to gradually recover in the near term, though it remains slightly behind regional peers.

Malaysia's manufacturing sector to recover gradually despite lagging behind regional peers — economists

KUALA LUMPUR (May 3): KL Wellness City Sdn Bhd, through KL International Hospital Sdn Bhd, has launched KL International Tertiary Hospital as part of the first phase of the KL Wellness City township in Bukit Jalil here on Thursday (May 2).

KL Wellness City launches tertiary hospital as part of the township’s first phase

PUTRAJAYA (May 3): A convenience store in Precinct 3 here was raided by the Ministry of Domestic Trade and Cost of Living on Thursday (May 2), for suspected sale of food products with the words “no palm oil” (NPO) written on the product’s plastic packaging.

Domestic Trade Ministry raids premises selling products with ‘no palm oil’ label

Peloton Interactive Inc shares fell to a record low after chief executive officer Barry McCarthy announced plans to step down and the struggling fitness company embarked on a major restructuring that will reduce its global workforce by 15%.

Peloton tumbles to record low after announcing CEO exit, layoffs

Analysts anticipate continuous growth for Westports Holdings Bhd for the rest of the year on the back of sustained trade activities in the regional economies and multi-year high foreign direct investment (FDI).

Analysts upbeat on Westports’ outlook amid multi-year high FDI

Teen apparel retailer rue21&nbsp;filed for Chapter 11 bankruptcy protection for a third time on Thursday, seeking to shut down its 540 stores and sell its intellectual property.

Apparel retailer rue21 files for third bankruptcy, will close all stores

KUALA LUMPUR (May 3):&nbsp;Deputy Investment, Trade and Industry Minister Liew Chin Tong said it is time for Malaysia&nbsp;to see biomass as the feedstock for new and advanced fuels and&nbsp;other green industries.

Timely for Malaysia to see biomass as feedstock for advance fuels — Liew

RHB Research has downgraded TA Ann Holdings Bhd to "neutral" from "buy", with a reduced target price of RM4.00 from RM4.15, after the stock increased by over 35% in the past year, leading the research firm to believe that the valuation is now fair.

Correction

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