Israeli tanks and warplanes bombarded areas of Rafah on Thursday, Palestinian residents said, after President Joe Biden said the United States would withhold weapons from Israel if its forces mount a major invasion of the southern Gaza city.

A senior Israeli official said that the latest round of indirect negotiations in Cairo to halt hostilities had ended and Israel would proceed with its operation in Rafah and other parts of the Gaza Strip as planned.

Israel strikes eastern Rafah as ceasefire talks end with no deal

The Selangor government on Thursday launched the Selangor State Structure Plan 2035 (Amendment) draft, a planning document aimed at complementing the First Selangor Plan 2021-2025 in managing the state's physical development.

Selangor govt launches State Structure Plan 2035 draft for public feedback

The graph of people's support for Pakatan Harapan (PH) candidate shows an encouraging uptrend from the results of the face-to-face campaign conducted by the party machinery ahead of the last days of the Kuala Kubu Baharu state by-election campaign.

KKB by-electon: Graph of voter support for PH candidate rising, encouraging — Amirudin

Bank Negara Malaysia (BNM) has been working to pilot a fast-track pre-approval framework for corporates who bring back foreign currency funds and convert to ringgit, to enable them to re-invest abroad when the time comes, according to deputy governor Adnan Zaylani.

BNM aims to pre-approve oversea reinvestments to encourage repatriation of foreign proceeds

The continued uncertainties over China's economic growth prospects and the recent geopolitical crisis have increased US dollar demand as a safe-haven asset, said Bank Negara Malaysia (BNM) deputy governor Adnan Zaylani Mohamad Zahid.

“Much has been made of the performance of the ringgit against the US dollar. Unfortunately, many see and use this as an indicator or barometer of how we are doing.

Ringgit has been unfortunately, unfairly assessed against US dollar — BNM deputy governor

The Water Services Industry (Registration of Supplier) Rules 2023, which came into force on Jan 1, will improve the quality and safety of products used in the water supply and sewerage services industry.

The National Water Services Commission (SPAN) said in a statement on Thursday that the rules would further enhance the registration of suppliers, in addition to ensuring the product suppliers meet the stipulated standards.

New water services industry rules enhance product quality, safety — SPAN

The federal government is determined to eradicate hardcore poverty in Terengganu within the next two months, said Prime Minister Datuk Seri Anwar Ibrahim.

He said as of May 2, there were 1,663 families in the state still in the hardcore poor group.

Hardcore poverty in Terengganu to be eradicated in two months

Prime Minister Datuk Seri Anwar Ibrahim on Thursday held a closed-door meeting with Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar and attended a briefing on the development of the state at Wisma Darul Iman here.

Anwar, Terengganu MB hold closed-door meeting

Bank Negara Malaysia (BNM) did not surprise the market by keeping the overnight policy rate (OPR) at 3%.

Economists, in general, do not see any valid reason for BNM to either raise or cut the benchmark interest rate for the rest of 2024 despite contrasting regional monetary policy moves thus far.

No reason for BNM to move OPR either way till year-end, economists argue

PUTRAJAYA (May 9): The Ministry of Transport (MOT) has instructed Prasarana Malaysia Bhd to conduct a comprehensive study involving areas at risk of incidents of trees falling along its railway tracks.

Loke: Prasarana told to conduct study on rail tracks at risk of tree incidents

Republican presidential candidate Donald Trump vowed to reverse dozens of the Biden administration's environmental rules and policies at a meeting with top US oil executives, where he also asked them to raise US$1 billion (RM4.74 billion) for his presidential campaign, the Washington Post reported on Thursday.

Trump vows to target EVs, LNG exports in meeting with oil CEOs — report

The Federal Court on Thursday agreed to hear the merits of the appeal filed by the National Feedlot Corporation Sdn Bhd (NFCorp) and four others, including its chairman Datuk Seri Mohamad Salleh Ismail, for damages against Public Bank Bhd (KL:PBBANK).

At the same time, the apex court also granted leave to Public Bank's cross-appeal, to challenge the outcome of the Court of Appeal’s decision that had overturned the High Court’s decision to grant RM10,000 in damages to NFCorp and others, and RM500,000 in costs to be paid by the bank.

Apex court allows merits of both NFCorp and Public Bank appeals to be heard in account info leak case

KUALA LUMPUR (May 9): The management of SRC International Sdn Bhd (SRC), specifically the company’s former chief executive officer Nik Faisal Ariff Kamil, had not complied with the directions of the board to repatriate RM3.6 billion which it had transferred to an overseas bank for a purported investment, the High Court was told here on Thursday.

SRC management did not comply with board’s instruction to repatriate RM3.6b KWAP loan

China is considering a proposal to exempt individual investors from paying dividend taxes on Hong Kong stocks bought via Stock Connect, according to people with knowledge of the matter.

China mulls dividend tax waiver on Hong Kong stocks via Stock Connect

Britain's FTSE 100 hit a record high for a fourth straight session on Thursday after the Bank of England held interest rates but indicated that more policymakers are warming up to a cut in borrowing costs soon.

The blue-chip index ended the session 0.3% higher, after rising as far as 8,396.25 points earlier in the day, while the mid-cap FTSE 250 added 0.2% to a 15-month high.

London's FTSE 100 hits record for fourth session after BoE signals rate cuts

Main-Market listed Warisan TC Holdings Bhd (KL:WARISAN) has lodged a 30-year medium-term notes (MTN) programme worth RM500 million with the Securities Commission of Malaysia (SC).

The move is to raise funds for its capital expenditure, working capital requirements, projects, investments and asset acquisitions, as well as repayment of borrowings, the group told Bursa Malaysia.

Warisan TC lodges 30-year, RM500m medium term notes programme

Annum Bhd (KL:ANNUM), formerly known as Cymao Holdings Bhd, says it is going to hire a new audit firm to conduct a special audit on its revenue, after its external auditor Messrs SBY Partners PLT said it cannot verify the figures Annum reported despite performing additional audit procedures.

Annum, which is involved in the manufacturing of wood-based products, just hired SBY in March this year after approaching 31 other auditors who turned down the job. Most had cited resource constraints, according to the group.

Annum plans special audit after newly hired auditor declines to vouch for its financials

Farm Price Holdings Bhd, which will be listed on the ACE Market next Tuesday (May 14), announced net profit of RM2.67 million on revenue of RM30.71 million for the first quarter ended March 31, 2024 (1QFY2024).

Vegetable wholesaler Farm Price posts RM2.67 mil net profit in 1QFY2024 ahead of listing

Airbnb Inc shares slid by the most in a year after the home-rental company gave lackluster guidance for a second straight quarter, indicating that growth in travel spending will slow ahead of the peak summer season.  

Revenue for the current quarter ending in June will be US$2.68 billion to US$2.74 billion, the company said Wednesday in a letter to shareholders. Analysts had been expecting US$2.74 billion. In its statement, Airbnb blamed the earlier timing of the 2024 Easter holiday, as well as currency headwinds.

Airbnb posts biggest decline in a year on weak travel outlook

Coach handbag maker Tapestry cut its annual sales forecast and missed third-quarter revenue estimates on Thursday, signaling weak demand for its tote bags and accessories in North America and China.

Shares of the Kate Spade owner fell 2% as the company also forecast fourth-quarter profit below expectations.

Coach parent Tapestry cuts sales forecast on tepid demand in US, China

The property arm of Sunway Bhd (KL:SUNWAY), Sunway Property's newly launched Sunway Velocity 3 residential project has achieved a take-up rate of 60%, with over 400 out of 695 units snapped up during its opening weekend on May 4.

Sunway Velocity 3 residential development 60% taken up at launch 

Transport Minister Anthony Loke on Thursday said the ship allegedly owned by an Israeli company while using a port in this country has actually changed ownership. It now belongs to another company based in Hong Kong.

Alleged Israeli ship that recently docked in Malaysia has changed hands, Loke clarifies

A total allocation of RM180 billion in the construction sector for government and private sector projects will be up for grabs this year, according to Deputy Works Minister Datuk Seri Ahmad Maslan.

RM180 bil available for construction sector jobs this year — Ahmad Maslan

MEMBERS’ ability to decide not to transfer existing Employees Provident Fund (EPF) savings into the newly created Flexible Account 3 for anytime withdrawals is seen as the saving grace to what critics deem as a short-sighted compromise that will prove to have longer-term consequences.

I...

Cover Story: Who pays for anytime EPF withdrawals?

KUALA LUMPUR (May 9): The Securities Commission Malaysia has finally managed to charge a man related to a securities fraud involving RM17.6 million in 2007, following his arrest on his return to Malaysia on Wednesday (May 8) after having evaded authorities for 15 years.

Man who evaded the law for 15 years charged with abetment in securities fraud

Shares of Sarawak Cable Bhd (KL:SCABLE) fell to its lowest in five months on Wednesday after the loss-making cable manufacturer's so-called resuscitation exercise has been terminated.

Sarawak Cable shares fall to five-month low after losing its white knight

Malaysia’s central bank on Thursday left the benchmark interest rate unchanged as widely expected, citing improving economic activity amid moderate inflation.

BNM keeps overnight policy rate unchanged as widely expected

Solarvest Holdings Bhd (KL:SLVEST) said on Thursday that it has secured a contract worth RM40.4 million to install rooftop solar photovoltaic (PV) systems.

Solarvest bags RM40.4m contract from Scientex to install rooftop solar PV systems

Glove manufacturer Supermax Corp Bhd (KL:SUPERMX) is acquiring the remaining 33% equity interest in its 67%-owned subsidiary Supermax Healthcare Canada Inc (SHCI) for C$5.5 million (RM18.96 million) cash.

Supermax is acquiring the stake from Sylvain Bergeron, who has been a business partner of the company since 2004 when Supermax's founder and managing director Datuk Seri Stanley Thai Kim Sim partnered with Bergeron to start the Canadian branch of Supermax.

Supermax acquires remaining stake in 67%-owned loss-making Canadian unit for RM18.96 mil cash

MCE Holdings Bhd said Brahmal Vasudevan has emerged as a substantial shareholder with a 5.02% indirect stake in the automotive parts and accessories manufacturer.

Brahmal held 6.2 million shares in MCE via Creador Conscienta Ltd, who raised its stake beyond 5% following the acquisition of 100,000 shares earlier on Thursday.

Creador’s Brahmal emerges as substantial shareholder of MCE Holdings

Mah Sing Group Bhd (KL:MAHSING), via its unit Star Residence Sdn Bhd, officially launched its latest serviced apartment development named M Zenya in Kepong, Kuala Lumpur on May 9 during the opening ceremony of its sales gallery at Sungai Mas Plaza at Jalan Ipoh.

Mah Sing officially launches M Zenya serviced apartment in Kepong with 92% take-up

Malaysia has launched the commercial trading of Renewable Energy Certificates (RECs) through the Malaysian Green Attribute Trading System (mGATS) to be operated by Tenaga Nasional Bhd (KL:TENAGA).

The commercial trading of the certificates through mGATS commenced on May 8, the Ministry of Energy Transition and Water Transformation (Petra) said in a statement. Tenaga will ensure that the certificates are internationally certified by reputable registries, such as the I-TRACK Foundation, it noted.

Malaysia kicks off Renewable Energy Certificates commercial trading

The government must ensure that foreign direct investments (FDI) to develop data centres in Malaysia will benefit local players, according to speakers at the National Economic Forum 2024 here hosted by the National Chamber of Commerce and Industry of Malaysia.

Govt urged to ensure FDI on data centres benefit local players

Malaysia Airports Holdings Bhd (KL:AIRPORT) on Thursday named former Malaysian Aviation Commission (Mavcom) executive chairman Dr Nungsari Ahmad Radhi as its director effective immediately.

Former aviation regulator chairman Nungsari joins Malaysia Airports’ board

NEW DELHI (May 9): Malaysia's former health minister Khairy Jamaluddin Abu Bakar has been named a member of India-based Fischer Medical Ventures Ltd's board.

The company, formerly known as Fischer Chemic Ltd, announced his appointment as additional director in the capacity of independen...

Khairy Jamaluddin named member of India-based company's board

KUANTAN (May 9): An armoured vehicle plant will be built&nbsp;in the Padang Tengku Industrial Estate (Phase II) to further boost the development of the Lipis district as a defence city, thus stimulating the economic growth of the local population, as well as job opportunities.

Armoured vehicle plant to be built in Lipis — Pahang MB

Former finance minister Tun Daim Zainuddin has failed in his appeal to reinstate his legal challenge against the Malaysian Anti-Corruption Commission (MACC) over its investigation into his and his family’s finances, which had led to the freezing of their various accounts and the seizure of Ilham Tower.

Daim and family fail to reinstate legal challenge against MACC investigations and criminal charges

Home improvement products retailer Mr DIY Group (M) Bhd (KL:MRDIY) said on Thursday its net profit rose 13% in the first quarter from a year earlier thanks to sales from new stores, while margins expanded as supply chain disruption and freight costs eased.

Mr DIY 1Q net profit rises 13% on sales from new stores, higher margins; pays one sen dividend

WhatsApp’s begun working freely and consistently for some users in China despite a longstanding government ban on the messaging service, an unusual phenomenon for a country with some of the world’s strictest internet curbs.

WhatsApp, banned in China, is suddenly working for some users

Outsourced semiconductor assembly and testing (OSAT) player Globetronics Technology Bhd’s (KL:GTRONIC) net profit jumped 73.42% year-on-year for its first quarter ended March 31, 2024 (1QFY2024), thanks to a foreign exchange (forex) gain and higher interest income.

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