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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: Ant International to set up new business centre, creating over 500 jobs</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
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<div class=newsTextDataWrapInner><p>Here’s a quick look at some of the stories that made headlines today.</p></div>

<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. Digital payment and financial technology provider Ant International is going to <a href="https://theedgemalaysia.com/node/708490" target="_blank">establish </a>what it calls a new digital business centre in Malaysia, creating more than 500 job opportunities in the first year.</p></div>

<div class=newsTextDataWrapInner><p>2. Axiata Group Bhd and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to <a href="https://theedgemalaysia.com/node/708417" target="_blank">combine </a>their Sri Lankan operations.</p></div>

<div class=newsTextDataWrapInner><p>3. RHB Bank said it views sustainable financing as presenting more <a href="https://theedgemalaysia.com/node/708437" target="_blank">opportunities </a>than challenges, rather than affecting its overall profit from financing activities.</p></div>

<div class=newsTextDataWrapInner><p>4. ACE Market-bound Sin-Kung Logistics Bhd, which launched its initial public offering on Thursday, said that <a href="https://theedgemalaysia.com/node/708453" target="_blank">demand </a>for trucking services remains intact.</p></div>

<div class=newsTextDataWrapInner><p>5. Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has <a href="https://theedgemalaysia.com/node/708478" target="_blank">ceased </a>to be a substantial shareholder of HeiTech Padu Bhd, just one month after acquiring a 15.9% stake.<br />
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EVENING 5: Five things you need to know today

Malaysia and the People's Republic of China have achieved significant milestones in the half-century of diplomatic relations, said Deputy Communications Minister Teo Nie Ching.

Malaysia-China diplomatic relations have achieved significant milestones, says Teo

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.

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

Iranian President Ebrahim Raisi's death in a helicopter crash upsets the plans of hardliners who wanted him to succeed Supreme Leader Ayatollah Ali Khamenei and will stir rivalries in their camp over who will take over the Islamic Republic when he dies.

Death of Iran's Raisi could stir race for Khamenei succession, say insiders 

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.

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

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.

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

Copper surged to its highest-ever level, extending a months-long rally driven by financial investors who’ve piled into the market in anticipation of deepening supply shortages.

Futures on the London Metal Exchange (LME) jumped more than 4%, taking copper past US$11,000 (RM51,529) a tonne for the first time, before paring some gains in afternoon trading.

Copper hits record above US$11,000 on bets of impending shortage

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.

Binastra MD offloads 6% stake for RM36 mil

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.

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

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

Coastal Contracts bags vessel sale, five-year charter extension

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.

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

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


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

<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>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>The government has decided to once again extend the freeze on foreign worker applications, according to Home Minister Datuk Seri Saifuddin Nasution Ismail.</p>


Govt extends freeze on foreign worker applications, no new quota

<p>TWO days can mean a lot in the world of high finance. The minority shareholders of Kuchai Development Bhd (KL:KUCHAI) learnt this the hard way.</p>

<p>Last Tuesday, the shareholders of Kuchai approved a transaction to dispose of all the assets and liabilities in the company to Sungei Bagan Rub...

Kuchai shareholders missed out on bonanza by a mere two days 

<p>Kuala Lumpur Kepong Bhd (KL:KLK), Malaysia’s third-largest palm oil producer by acreage, said on Monday its net profit fell 39% in the second quarter as the same quarter in the previous year was partly inflated by disposal gains.</p>


KLK, Batu Kawan post lower 2Q earnings despite improved performance by plantation segment

<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>Crude palm oil prices (CPO) are expected to range between RM3,700 to RM3,950 this month as seasonal recovery production push prices down, according to the Malaysian Palm Oil Council (MPOC).</p>


CPO prices to range between RM3,700-RM3,950 on seasonal production recovery — MPOC 

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


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

<p>Energy and engineering services firm Kinergy Advancement Bhd (KL:KAB) said on Monday its net profit doubled in the first quarter, thanks to new projects and entities acquired.</p>


Kinergy's 1Q net profit doubles on new projects, entities

<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>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>Last week was a bad one for the world order. Russia made new military advances in Ukraine, and the US slapped punitive tariffs on Chinese imports. None of that spooked stock market indices, which reached&nbsp;record highs&nbsp;on both sides of the Atlantic.</p>


Pricey stocks overlook the world’s troubles

<p>Ehsan Bina Group has formed a partnership through a Memorandum of Understanding (MOU) with Maybank Islamic Bhd to extend a financing programme called HouzKEY to buyers of ForestHill Residences, a high-rise residential project located in Damansara Perdana, Selangor.</p>
