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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: Govt offers Gamuda-led consortium works on Penang LRT</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. Putrajaya offers Gamuda’s 60%-owned SRS Consortium civil works contracts on <a href="https://theedgemalaysia.com/node/706321" target="_blank">the first segment of the Penang LRT</a>.</p></div>

<div class=newsTextDataWrapInner><p>2. The High Court orders FGV Holdings’ former chairman and ex-CEO to <a href="https://theedgemalaysia.com/node/706288" target="_blank">repay a cumulative RM3.3 million to the group</a>.</p></div>

<div class=newsTextDataWrapInner><p>3. LTAT appoints <a href="https://theedgemalaysia.com/node/706325" target="_blank">General (Rtd) Tan Sri Azizan Ariffin as its new chairman, and Mohammad Ashraf Md Radzi as its CEO</a>.</p></div>

<div class=newsTextDataWrapInner><p>4. MKH Oil Palm (East Kalimantan) <a href="https://theedgemalaysia.com/node/706304" target="_blank">begins taking orders from investors</a> for its initial public offering on the Main Market.</p></div>

<div class=newsTextDataWrapInner><p>5. Precision components manufacturer <a href="https://theedgemalaysia.com/node/706318" target="_blank">Northeast Group files for an ACE Market IPO</a> to raise funds for expansion.</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

A former Nuveen equity trader was ordered to spend almost six years behind bars after admitting he tipped off another man to the firm’s trades as part of a US$47 million (RM220.2 million) front-running scheme.

Ex-Nuveen trader gets 70 months for insider-trading scheme

Peloton Interactive Inc kicked off the sale of a new loan as it works to refinance existing debt and recover from a recent slump in sales.

Peloton launches US$1b loan to refinance existing debt

Microsoft Corp chief executive officer Satya Nadella is betting a new generation of computers with specialised artificial intelligence chips and faster performance will revive the long-running rivalry between Windows PCs and Apple Inc’s Mac.

Microsoft’s CEO says new AI PCs will revive PC-Mac rivalry

Zoom Video Communications Inc gave a sales forecast that was in line with estimates, suggesting the software maker’s effort to provide a wider range of productivity tools isn’t yet attracting more business customers.

Zoom projects lacklustre sales on stagnant customer growth

The Apprentice, Iran-born director Ali Abbasi's much-anticipated drama of a young Donald Trump's ascendancy as a New York real estate mogul, premiered at the Cannes Film Festival on Monday.

Election year Trump biopic 'The Apprentice' premieres at Cannes

Wall Street was mixed on Monday while gold jumped to an all-time high as investors weighed hawkish statements from the Federal Reserve against evidence of cooling US inflation.

US stocks mixed amid cautious Fed comments, gold shines

German automaker BMW imported at least 8,000 Mini Cooper vehicles into the US with electronic components from a banned Chinese supplier, a US Senate report released on Monday said.

BMW imported 8,000 vehicles into US with parts from banned Chinese supplier, Senate report says

Three former US foreign policy officials in Donald Trump's administration met with Prime Minister Benjamin Netanyahu and other public figures in Israel on Monday, according to a person with direct knowledge of the matter.

Donald Trump foreign policy advisers met Israeli PM Netanyahu — Reuters

The Nasdaq closed at a record high on Monday while the S&P 500 gained slightly as technology stocks advanced ahead of Nvidia's highly anticipated earnings and investors gauged the timing of an interest rate cut by the Federal Reserve.

Nasdaq hits record, S&P ticks higher with Nvidia results eyed

Italy foreign minister said on Monday it was "unacceptable" to equate the Israeli democratic government with Hamas, in his first comments on the International Criminal Court prosecutor's request for arrest warrants for Israeli and Hamas leaders.

Italy says 'unacceptable' to equate Israeli government with Hamas in ICC arrest warrant applications

<p>Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labour costs and a disastrous unlimited shrimp promotion.<br />
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The Orlando, Florida-based company filed for Chapter 11 protection on Sunday (May 19), listing assets and liabilities of US$1 billion (RM4.68 billion) to US$10 billion each in its bankruptcy petition. The filing allows the company to keep operating while it works out a plan to repay creditors.&nbsp;</p>


Red Lobster chain goes bankrupt after unlimited shrimp deal

<p>Property development and management group Menang Corp (M) Bhd (KL:MENANG) has declared a special dividend of six sen a share as its quarterly earnings rose to a six-year high.</p>


Menang declares six sen special dividend as earnings rises to six-year high

<p>KUALA LUMPUR (May 20): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:</p>


Hubline, Public Bank, Batu Kawan, KLK, Menang Corp, Kotra, Media Chinese, FGV, Magma Binasta, Bright Packaging, Annum, Pertama 

<p>Sarawak-based shipping company Hubline Bhd disclosed to the local stock exchange that it is in talks with state-owned equity firm Ekuiti Nasional Bhd (Ekuinas) in regards to the potential acquisition of Orkim Sdn Bhd.</p>


Hubline confirms talks to acquire Ekuinas' Orkim

<p>Sunway Construction Group Bhd (KL:SUNCON), or SunCon, on Monday reported a 16.4% year-on-year (y-o-y) increase in net profit for the first quarter, thanks to higher billings in newer projects.</p>


Sunway Construction posts 16% rise in 1Q net profit, eyes more advanced jobs

<p>Electronics manufacturing services (EMS) firm Notion VTec Bhd (KL:NOTION) reported a net profit of RM14.04 million in the second quarter ended March 31, 2024 (2QFY2024), a turnaround from the net loss of RM7.77 million a year ago, driven by strong demand for the group’s EMS products.</p>


Notion VTec logs RM14 mil net profit in 2Q amid stronger demand for EMS products

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


<p>The Court of Appeal (COA) has allowed two appeals filed by a 53-year-old former remisier with AmBank (M) Bhd and AmInvestment Bank Bhd for her expert witness to testify in a High Court trial to help her application in seeking alleged damages for wrongfully preventing her to continue to ply her trade as a remisier and for usurping her profit-generating apparatus.</p>


Expert witness can testify on estimation of damages for ex-remisier, says COA

<p>The International Criminal Court's prosecutor said on Monday he had requested arrest warrants for Israeli Prime Minister Benjamin Netanyahu, his defence chief and three Hamas leaders over alleged war crimes.</p>

<p>ICC prosecutor Karim Khan said in a statement issued after over seven months of war in Gaza that he had reasonable grounds to believe that all "bear criminal responsibility" for alleged war crimes and crimes against humanity.</p>


ICC prosecutor seeks arrest warrants for Israeli PM, defence chief and three Hamas leaders

<p>Engineering, procurement, commissioning and construction (EPCC) work has yet to begin on Toyo Ventures Holdings Bhd’s (KL:TOYOVEN) thermal power plant project in Vietnam, said Sunway Construction Group Bhd's (KL:SUNCON) stock exchange disclosure on Monday.</p>


EPCC work yet to start on Toyo’s Song Hau power plant, says SunCon

<p>The tech-heavy Nasdaq climbed to a record high on Monday, boosted by chipmakers, with highly awaited quarterly results from Nvidia and the Federal Reserve's (Fed) policy meeting minutes this week likely to test Wall Street's record-breaking run.</p>


Nasdaq hits record high on chip boost as Nvidia results in focus

<p>Annum Bhd’s (KL:ANNUM) largest shareholder, Datuk Seri Chin Kok Foong, has disposed of his entire 14.83% stake in the Practice Note 17 (PN17) wood-based products manufacturer.</p>


Annum’s largest shareholder Chin Kok Foong exits group after selling 15% stake to Ageson's Larry Liew

<p>Bright Packaging Industry Bhd’s (KL:BRIGHT) largest shareholder Datuk Ricky Wong Shee Kai, who has been embroiled in a legal battle with the Securities Commission Malaysia (SC), has trimmed his stake in the company after selling 20 million shares or 9.74% stake in the company.</p>


Fugitive businessman Ricky Wong trims stake in Bright Packaging amidst legal woes with SC

<p>Binastra Corp Bhd's (KL:BNASTRA) managing director and largest shareholder Datuk Tan Kak Seng has sold a 6% stake in the construction outfit for RM36 million.</p>


Binastra MD offloads 6% stake for RM36 mil

<p>Apple has launched an aggressive discounting campaign on its official Tmall site in China, offering discounts of up to 2,300 yuan (US$318) on select iPhone models.</p>

<p>The discounting comes as the US tech giant seeks to defend its position in the high-end smartphone market, where it faces increasing competition from local rivals such as Huawei.</p>


Apple slashes iPhone prices in China amid fierce Huawei competition

<p>The Nasdaq closed at a record high on Monday while the S&amp;P 500 gained slightly as technology stocks advanced ahead of Nvidia's highly anticipated earnings and investors gauged the timing of an interest rate cut by the Federal Reserve.</p>


<p>Loss-making Media Chinese International Ltd (KL:MEDIAC) said it expects its net loss to swell to between US$11 million (RM51.53 million) and US$13 million (RM60.91 million) for the year ended March 31, 2024 (FY2024), from US$200,000 (RM937,039) a year earlier.</p>

<p>The bigger loss is due, among others, to the decrease in turnover from the publishing and printing segment for FY2024 compared with the previous year, said the country’s largest Chinese-language media group in a filing on Monday.</p>


Media Chinese expects to report up to US$13 mil net loss for FY2024 amid lower publishing revenue

<p>Coastal Contracts Bhd (KL:COASTAL) has secured the sale of an offshore support vessel (OSV) and a charter extension for a separate vessel.</p>


Coastal Contracts bags vessel sale, five-year charter extension

<p>A court in Sabah has struck out a man’s claim for RM24.92 million damages against FGV Holdings Bhd (KL:FGV) for alleged fraudulent transactions and trespass relating to land in the state held under a native title.</p>


Court strikes out man’s RM25 mil trespassing suit against FGV

<p>An infected blood scandal in Britain was no accident but the fault of doctors and a succession of governments that led to 3,000 deaths and thousands more contracting hepatitis or HIV, a public inquiry reported on Monday.</p>
