<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily</em>, on January 19, 2016.</p></div>

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<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Bank Negara Malaysia (BNM) has “no objection” to the one-month extension until Feb 2 that is being sought by Malaysia Building Society Bhd (MBSB) and DRB-Hicom Bhd to conclude their talks on the proposed merger between MBSB and Bank Muamalat Malaysia Bhd.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>DRB-Hicom owns 70% of Bank Muamalat, while Khazanah Nasional Bhd holds the remaining 30% stake.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia, AmInvestment Bank, on behalf of MBSB, said BNM, via its letter last Friday, had informed MBSB of its position in response to MBSB’s application for the time extension.</p></div>

<div class=newsTextDataWrapInner><p>CIMB Investment Bank, representing DRB-Hicom, also made a similar announcement to the local bourse.</p></div>

<div class=newsTextDataWrapInner><p>On Dec 23, 2015 MBSB and DRB-Hicom announced that both entities were seeking a one-month extension from Dec 30, 2015 to Feb 2, 2016 from the central bank to conclude negotiations on the proposed merger between MBSB and Bank Muamalat.</p></div>

<div class=newsTextDataWrapInner><p>MBSB shares closed one sen or 0.68% lower at RM1.45 yesterday, valuing them at RM4.14 billion. DRB-Hicom shares closed five sen or 4.42% lower at RM1.08, with a market capitalisation of RM2.07 billion.</p></div>


This article first appeared in The Edge Financial Daily, on January 19, 2016.

 

KUALA LUMPUR: Bank Negara Malaysia (BNM) has “no objection” to the one-month extension until Feb 2 that is being sought by Malaysia Building Society Bhd (MBSB) and DRB-Hicom Bhd to co...

BNM okays talk extension for MBSB-Bank Muamalat merger

PARIS (April 25): BNP Paribas (BNPP) reported a fall in first-quarter profit and revenue on Thursday but beat analyst forecasts, as lower expenses and a strong performance in its corporate banking business offset flat or falling revenues elsewhere.

BNP Paribas profit tops estimates on lower costs and global banking

KUALA LUMPUR (April 25): theedgemalaysia.com highlighted nine stocks with momentum at Bursa Malaysia’s afternoon close on Thursday (April 25). One stock showed positive momentum, while eight stocks showed negative momentum.

The stock with positive momentum was:

  &nb...

RGT, Notion, BMGreen, Plytec, AlAqar, Sasbadi, QL, Sign, CGB

BEIJING (April 25): Chinese electric vehicle (EV) maker XPeng on Thursday said its software and artificial intelligence training upgrades will enter a "super fast cycle" from May, and that it hopes the use of its platform will expand to other Asian countries and Europe.

XPeng CEO says its software, AI upgrades to enter 'super fast cycle'

Xiaomi Corp has secured 75,723 orders for its SU7 electric vehicles since last month’s launch, paving the way for the Chinese electronics giant to challenge automakers from Tesla Inc to BYD Co Ltd in the world’s largest car market.

Xiaomi says SU7 EV orders reach 75,723 since March launch

Malaysia’s consumer inflation came in lower than expected in March from a year earlier as prices of healthcare and food rose at a slower pace, official data on Thursday showed.

The Consumer Price Index — Malaysia’s main gauge of inflation — rose 1.8% year-on-year, according to the Department of Statistics. The headline figure was a tad lower than the median 2% rise predicted in a Bloomberg survey of economists, and unchanged versus February’s 1.8% gain.

Malaysia’s inflation steady at 1.8% year-on-year in March

BENGALURU (April 25): The Philippine peso and South Korean won led losses on Thursday among subdued Asian emerging currencies, while stock markets in the region were pulled lower by a weak tech sector, after Facebook parent Meta Platforms disappointed with its forecasts.

Asian stocks slide on US tech earnings worries; currencies fall

Toyota Motor said on Thursday its global sales and production hit record highs in the year ended March 31, supported by robust demand and the absence of semiconductor supply constraints it had to endure in recent years.

Toyota hits record annual output, sales on robust demand

THE uptrend in the prices of a number of commodities — reflected in the 14.2% rise in the S&P GSCI from its recent December trough — brought back memories of the commodity bull run in 2021 and 2022, when the effects of the Covid-19 pandemic followed by the war in Ukraine choked global supply ...

Cover Story: Are commodities at the start of a secular bull run? 

Nestle on Thursday missed first-quarter organic sales growth estimates, as the world's biggest packaged food company hiked prices and sold fewer products, particularly in North America.

Nestle misses sales estimates after hiking prices across the board

Deutsche Bank posted on Thursday a better-than-expected 10% increase in first-quarter profit as a resurgence in fixed-income trading and deal-making propelled revenue at its investment banking division.

Deutsche Bank first-quarter profit jumps 10% as investment bank outperforms

<p>KUALA LUMPUR (April 25): The Employees Provident Fund (EPF) members, who are below 55 years old, will have an Account 3, in addition to the existing two accounts for their retirement savings, starting May 11.&nbsp;</p>


EPF members under age 55 will have Account 3 starting May 11

<p>Malaysia is in early discussions with tycoons on opening a casino in Forest City, people familiar with the matter said, in a bid to revive the beleaguered US$100 billion (RM478.35 billion) property project that counts the country’s monarch as one of its shareholders.</p>


Malaysia is said to mull casino resort to revive Forest City

<p>Digital Nasional Bhd (DNB), the state-owned company in charge of the 5G network infrastructure rollout, on Thursday named five new board members, comprising senior leaders from the telecom and technology industries.</p>


Digital Nasional names senior telco and tech leaders as new directors

<p>Binance co-founder Changpeng Zhao is facing up to three years in prison if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.</p>


Friends, family, royalty seek mercy for crypto’s richest man

<p>Shares of YTL Corp Bhd rallied to a new all-time high on Thursday after Hong Leong Investment Bank (HLIB) flagged more upside even after a 42% year-to-date surge.</p>


YTL Corp rallies to new all-time high after HLIB flags more upside

<p>A made-in-China electric vehicle (EV) will hit US dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about US$8,000 (RM38,228) less.</p>


How Volvo landed a cheap Chinese EV on US shores in a trade war

<p>A disappointing earnings report from Meta Platforms Inc has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.</p>


Meta’s miss sparks fear in tech world with big earnings looming

<p>Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.</p>


Axiata, Sinar Mas move closer to US$3.5b telco merger, Bloomberg reports

<p>Housing and Local Government Minister Nga Kor Ming’s press secretary Pang Sock Tao was announced as the unity government’s candidate for the Kuala Kubu Baharu by-election on May 11.</p>


Nga's press secretary Pang picked as unity govt's candidate for Kuala Kubu Baharu by-election

<p>KUALA LUMPUR (April 25): Mega First Corp Bhd shares have likely peaked following a recent rally to new all-time highs, and investors should stop buying the stock now, Maybank Investment Bank (Maybank IB) said and downgraded the stock to ‘hold’.</p>

<p>Maybank IB is the first from a total of fi...

Mega First shares likely peaked; Maybank IB the first to downgrade stock

<p>KUALA LUMPUR (April 25): Agricore CS Holdings Bhd, a food ingredients supplier, has obtained approval from Bursa Malaysia Securities Bhd to list on its ACE Market.</p>


Agricore CS Holdings gets Bursa Malaysia nod to list on ACE Market

<p>Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.</p>


Singapore's Keppel profit rises on strong infra, connectivity performance

<p>RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.</p>


NationGate is observing technical breakout, says RHB Retail Research 

<p>RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.</p>


Naim Holdings likely to resume its uptrend, says RHB Retail Research 

<p>Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo.</p>


Stocks hit by tech slide; yen flails at intervention zone

<p>Malaysia’s consumer inflation came in lower than expected in March from a year earlier as prices of healthcare and food rose at a slower pace, official data on Thursday showed.</p>

<p>The Consumer Price Index — Malaysia’s main gauge of inflation — rose 1.8% year-on-year, according to the Department of Statistics. The headline figure was a tad lower than the median 2% rise predicted in a Bloomberg survey of economists, and unchanged versus February’s 1.8% gain.</p>


<p>Benchmark S&amp;P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.</p>


S&P 500 ends higher as markets weigh rising yields, upbeat corporate results

<p>Visa Inc recently reported impressive fiscal second quarter 2024 results, with net revenue increasing by 10% and payments volume growing by 8%.</p>


Visa's strong earnings may be a troubling sign for US economy — report

<p>The Court of Appeal has allowed a bid by Tan Sri Muhyiddin Yassin to have a bench of five judges to hear his review application to restore his acquittal by the High Court of four of his abuse of power charges last year.</p>

<p>His lawyer Chetan Jethwani said that Court of Appeal deputy registrar Muhammad Noor Firdaus Rosli informed the parties of the matter on Thursday morning during case management.</p>


Appellate court grants Muhyiddin five-member bench for review of charges

<p>Synergy House Bhd may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high.</p>
