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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: MACC to call in then PM in Spanco probe</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
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<div class=newsTextDataWrapInner><p>Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.</p></div>

<div class=newsTextDataWrapInner><p>1. The MACC will call up key decision makers in the Spanco contract award, including <a href="https://theedgemalaysia.com/node/700023" target="_blank">the PM and finance minister at the time</a>.</p></div>

<div class=newsTextDataWrapInner><p>2. Hartalega Holdings logs <a href="https://theedgemalaysia.com/node/699997" target="_blank">a second straight quarterly profit</a> in 3QFY2024, despite falling revenue amid the Red Sea crisis.</p></div>

<div class=newsTextDataWrapInner><p>3. BAT Malaysia sees its <a href="https://theedgemalaysia.com/node/700043" target="_blank">4QFY2023 net profit tumble by 23%</a> to RM47.36 million and announces a 15 sen dividend.</p></div>

<div class=newsTextDataWrapInner><p>4. Eco World International plans to <a href="https://theedgemalaysia.com/node/700060" target="_blank">reduce its share capital by a further RM500 million</a> to facilitate its dividend distribution target.</p></div>

<div class=newsTextDataWrapInner><p>5. Wentel Engineering Holdings <a href="https://theedgemalaysia.com/node/699945" target="_blank">ends the day at 28 sen, up 7.7%</a>, after opening flat on its ACE Market debut at 26 sen.</p></div>


Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Russia was China's top oil supplier in April for a 12th month, with volumes rising 30% from a year earlier, official data showed, as refiners continued to cash in discounted shipments, while supplies from Saudi Arabia fell a quarter on higher prices.

China's crude oil imports from Russia, which include supplies sent via pipelines and the sea, were 9.26 million metric tons last month, or 2.25 million barrels per day (bpd), according to data from the General Administration of Customs.

Russia is China's top oil supplier for a 12th month in April

Former Community Communications Department (J-KOM) officer Abdul Wahab Abd Kader Jilani on Monday failed in his application for an injunction to prevent Badrul Hisham Shaharin from making any statements regarding a video allegedly containing lewd conversations with former J-KOM director-general Datuk Dr Mohammad Agus Yusoff.

Abdul Wahab fails in injunction bid against Chegu Bard in defamation suit

Japanese manufacturers would prefer to see the Bank of Japan (BOJ) prioritise stable currency markets as a bigger monetary policy focus than the pursuit of stable inflation and economic growth, according to a major corporate survey by the central bank.

Forex stability is what Japan’s manufacturers want most, BOJ poll shows

Google is betting Microsoft Corp’s very public cybersecurity failures — along with deep discounts — will persuade corporate and government customers to use the search giant’s productivity software rather than Office.

Google attacking Microsoft's cyber failures in effort to steal customers, Bloomberg reports

Putrajaya is expected to roll out the multi-tier levy mechanism (MTLM) for foreign workers in January next year, according to Human Resources Minister Steven Sim Chee Keong.

Multi-tier levy on foreign workers to be implemented in January 2025, says HR minister

Volkswagen AG’s (VW) Audi and China’s SAIC Motor Corp will work together on a new vehicle platform as well as three new pure electric models as the German automaker steps up its electrification push in the world’s most competitive automotive market.

VW’s Audi, SAIC deepen ties for electric car line-up in China

The Bank of England (BOE) will be able to cut interest rates “some time over the summer” if second-round inflation pressures drop away as expected, deputy governor Ben Broadbent said.

BOE’s Broadbent says UK interest rates may drop this summer

Palm oil player TSH Resources Bhd (KL:TSH) reported a 13% year-on-year increase in its first quarter core profit before tax (PBT) to RM34.8 million from RM30.8 million, amid lower fertiliser prices and reduced losses from joint ventures.

TSH Resources reports 13% rise in core 1Q PBT to RM34.8m

The damages or defects in the surgery complex at the Sultan Idris Shah Hospital (HSIS) Heart Centre in Serdang will undergo repairs by next month.

Surgery complex at HSIS Heart Centre will undergo repairs next month

Health products manufacturer Kotra Industries Bhd (KL:KOTRA) said its net profit dropped 61% to RM6.83 million for its third quarter ended March 31, 2024 (3QFY2024), from RM17.5 million a year ago, mainly due to a less favourable product mix and lower sales.

Kotra Industries' 3Q profit drops 61% amid lower sales, higher tax expenses

<p>Iran's President Ebrahim Raisi was killed in a helicopter crash, an Iranian official and <i>Mehr</i> news agency reported on Monday. Below is a brief outline of what Iran's constitution says happens when a president is incapacitated or dies in office:</p>


What happens in Iran when a president dies in office?

<p>The High Court has ordered former Mara Corp chief executive officer (CEO) Datuk Badlisyah Abdul Ghani to pay the firm RM3.4 million after finding him guilty for breach of duty during his three-month term with the company, which is the investment and commercial arm of Majlis Amanah Rakyat.</p>


Former Mara Corp CEO ordered to pay RM3.4m to company for breach of duty

<p>Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest banking group by assets, said on Monday its net profit slipped 3.5% for the first quarter ended March 31, 2024 (1QFY2024) from a year earlier, mainly due to higher personnel costs and higher provisions.</p>


Public Bank's 1Q net profit slips 3.5% on higher costs, provisions

<p>AS more investments continue to pour into the data centre (DC) industry, companies are looking to tap opportunities in either the DC construction, fit-out or testing and commissioning segments.</p>

<p>Notably, the artificial intelligence (AI) boom has spurred demand for digital infrastructure,...

Data centre-linked stocks gain traction on news flow

<p>The time it’s taking for some of China’s electric-car makers to pay suppliers is ballooning — a further sign of stress in the nation’s increasingly cutthroat auto market.</p>


China’s EV makers taking longer to pay bills amid rising stress

<p>Bursa Malaysia said on Monday it is introducing Trading Reminders, a new tool that highlights unusual trading activity in addition to queries issued over spikes in prices and volumes.</p>


Bursa introduces Trading Reminder flag on top of unusual market activity queries

<p>Electronics manufacturing services firm Notion VTec Bhd (KL:NOTION) charted a new three-year high on Monday, as Bursa Malaysia’s Technology Index touched a new one-year high following the US’ plan to hike tariffs on semiconductors from China.</p>


Notion VTec charts new three-year high amid rally in tech stocks

<p>Shares in gold-related counters surged on Monday, following the precious metal notching a fresh all-time high, as investor demand soared across the broader metals complex, amid increasing optimism the US will cut interest rates this year.</p>


Poh Kong leads rally in gold-linked stocks as metal hits fresh record

<p>RHB Investment Bank Research has maintained its 'buy'&nbsp;rating for&nbsp;Gamuda Bhd (KL:GAMUDA) at RM5.58, with a higher target price of RM6.55 (from RM6.30), and said it is upbeat on the prospects Ho Chi Minh City (HCMC) has for Gamuda’s property arm.</p>


RHB IB upbeat on Gamuda’s prospects in Ho Chi Minh City, raises target price to RM6.55

<p>A senior banker from Maybank Investment Bank Bhd, Kevin Davies, is said to be moving to smaller-sized rival RHB Investment Bank Bhd to take on the CEO role, according to at least three industry sources.</p>

<p>“The move is subject to regulatory approvals,” one of the sources tells The Edge.</p...

Maybank senior banker Kevin Davies said to be headed to RHB

<p>Gold prices hit an all-time high on Monday, as a slowing US inflation trend boosted expectations the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak.</p>

<p>Spot gold rose 1% to US$2,438.44 per ounce, as of 0811 GMT, after hitting a record high of US$2,449.89 earlier in the session. US gold futures GCcv1 rose 1.1% to US$2,442.60.</p>


Gold hits record peak as rate-cut bets burnish appeal, silver jumps

<p>Maxis Bhd’s (KL:MAXIS) intention to build a second fifth-generation (5G) network could potentially put the group’s financial position and future earnings under pressure, according to analysts.</p>


Maxis' financial position could face pressure from proposed second 5G network, say analysts

<p>theedgemalaysia.com&nbsp;<wbr />highlighted one stock with positive momentum and 16 stocks with negative momentum at Bursa Malaysia's afternoon close on Monday. &nbsp;</p>


Cahya Mata Sarawak, Willowglen, Oceancash, Excel Force, Manulife, MBSB, MFM, Panasonic, ELK-Desa, Puncak Niaga, BIG Industries, Astral Asia, Niche Capital Emas, Hextar Retail, Arka, AHB, Dataprep

<p>Foreign buying of Malaysian equities was sustained for the fourth consecutive week with a total of RM873.9 million last week, leading to a year-to-date net inflow of RM4.9 million.</p>

<p>In its fund flow report on Monday, the MIDF Research team said the sustained interest in the domestic market may have stemmed from economic optimism, as recent data revealed a 4.2% year-on-year rise in gross domestic product in the first quarter of 2024.</p>


Foreign buying of M'sian equities sustained for fourth week with RM874m inflow, says MIDF

<p>Bumiputera-mandated agencies under the Ministry of Economy will move away from giving out ‘free money’ or grants, to focus on providing financial leverage and assistance for business expansion, its minister Rafizi Ramli said on Monday.</p>


Bumiputera agencies to move away from giving out 'free money', says Rafizi

<p>Malaysia is expected to see a "potential upswing" in external demand, particularly from China, while also benefitting from the imposition of US tariffs on Chinese goods, including electric vehicles (EVs) and their components, said TA Securities.</p>


Malaysia to benefit from China demand, US tariffs on Chinese EVs — TA Securities

<p>KUALA LUMPUR (May 20): Phillip Capital has maintained its “buy” rating on Kerjaya Prospek Group Bhd at RM1.80 with a higher target price (TP) of RM2 (from RM1.93) and said it expects Kerjaya’s 1Q2024 net profit to come in stronger year-on-year, but flat quarter-on-quarter.</p>

<p>In a note on ...

Phillip Capital raises target price for Kerjaya Prospek to RM2, sees stronger y-o-y net profit growth in 1Q2024

<p>Taiwan President Lai Ching-te asked China on Monday to stop its military and political threats, saying in his inauguration speech that peace is the only choice and that Beijing had to respect the choice of the Taiwanese people.</p>

<p>Lai, addressing the crowd outside the Japanese-colonial-era presidential office in central Taipei, repeated a call for talks with China, which views the proudly democratic island as its own territory and has never renounced the use of force to bring it under Beijing's control.</p>


New Taiwanese president calls on China to stop its threats

<p>Malaysia Airports Holdings Bhd’s (KL:AIRPORT) traffic expanded by 7.6% to 11 million passengers in April 2024, compared with the preceding month's 10.2 million passengers.</p>


MAHB's passenger traffic hit 11 million in April, 7.6% higher month-on-month

<p>Malaysia’s exports rebounded at a slower-than-expected 9.1% in April from a year earlier, as a surge in shipments of machineries, chemicals and palm oil offset a decline in deliveries of petroleum products and subdued electronics demand, official data Monday showed.</p>
