<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 19): Boustead Heavy Industries Corp Bhd (BHIC) said today it has received a one-year contract extension for the provision of In-Service Support for Prime Minister's Class Submarines for the Royal Malaysian Navy for RM159.15 million.</p></div>

<div class=newsTextDataWrapInner><p>The contract extension was awarded by the Ministry of Defence (Mindef) to BHIC's 60%-indirect unit Boustead DCNS Naval Corp Sdn Bhd (BDNC), it said.</p></div>

<div class=newsTextDataWrapInner><p>The contract is effective from Jan 1, 2021 to Dec 31, 2021, it added.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The other 40% shareholder of BDNC is France's Naval Group.</p></div>

<div class=newsTextDataWrapInner><p>The first year of the contract spanned through 2020 with a value of RM154.3 million, according to past BHIC filings.</p></div>

<div class=newsTextDataWrapInner><p>Shares of BHIC traded half a sen or 1.04% lower at 47.5 sen, valuing the heavy engineering unit at RM118.03 million.</p></div>


Boustead Heavy Industries Corp Bhd said today it has received a one-year contract extension for the provision of In-Service Support for Prime Minister's Class Submarines for the Royal Malaysian Navy for RM159.15 million.

BHIC gets one-year extension for Mindef submarine service support for RM159m

The year 2024 promises many challenges as persistent geopolitical tensions and the trade war between the US and China threaten to keep global markets volatile. This already-complex picture is further muddied by a record-breaking election year, with over 60% of global gross domestic product (GDP) at stake as 76 countries (including the US, the UK, Russia, India and Indonesia), representing over half the world’s population, head to the polls.

Navigating uncertainties Khazanah on its growth strategy for 2024

(April 29): The yen has tumbled well past levels touted as red lines for Japan and at a pace that has traders asking when authorities might start buying the currency to support it — and why they haven’t already done so.

The currency fell to a 34-year low against the dollar Friday after ...

Yen watchers ask 'where is Japan' as currency losses accelerate

China International Capital Corp (CICC) is cutting the base pay of onshore investment bankers by as much as 25%, three sources said, in a major effort to reduce costs amid volatile markets and Beijing's austerity drive.

Chinese brokerage CICC cutting dealmakers' base pay by 25% — Reuters

Oil prices fell in early Asian trading on Monday, reversing gains from Friday as US inflation data further dimmed the prospects of interest rate cuts anytime soon and boosted the dollar, which hurts oil demand.

Oil prices pare gains on US inflation concerns

Berjaya Corp Bhd (BCorp), which last week denied that its founder Tan Sri Vincent Tan Chee Yioun had participated in talks to revive a US$100 billion (RM477.60 billion) Forest City casino resort as reported recently, has lodged reports for the police to commence investigation into the above matter, specifically to, amongst others, ascertain and find out the purported “unnamed source” who disseminated complete untrue and false statements.

Berjaya Corp lodges police report to identify 'unnamed source' in Forest City casino resort debacle

Singapore Telecommunications on Monday forecast non-cash impairment provisions of S$3.1 billion (RM10.8 billion) for second-half of 2024 which would lead to the telecom giant reporting a net loss for the period.

Singtel sees US$2.3b impairment hit, net loss in 2H2024

L’Occitane International SA’s billionaire owner Reinold Geiger is close to making an offer to take the skin-care company private, according to people familiar with the matter, in a deal that could value the firm at about US$7 billion (RM33.4 billion) including debt.

Billionaire Geiger said to near US$7b L’Occitane buyout

When South Korea decided to host a US anti-ballistic missile system, the lucrative flow of tourists from neighboring China suddenly dried up. When Australia accused Beijing of meddling in its domestic politics and demanded answers over the origins of Covid-19, China stopped buying exports like coal, wine and beef.

US ramps up help as countries plan response to China’s bullying

KUALA LUMPUR (April 29): Mercury Securities Sdn Bhd has recommended investors “subscribe” ACE Market-bound Farm Price Holdings Bhd at an initial public offering (IPO) price of 24 sen and a fair value (FV) of 29 sen based on 13x FY2024F earnings per share, translating to 21% upside to IPO price.

Mercury Securities advises investors to subscribe ACE Market-bound Farm Price with fair value of 29 sen 

An appliance maker in southern China is finding it hard to ship its products to Russia, not because of any problems with the gadgets but because China's big banks are throttling payments for such transactions out of concern over US sanctions.

China firms go 'underground' on Russia payments as banks pull back

<p>KUALA LUMPUR (April 28): The Malaysian Anti-Corruption Commission (MACC) is investigating a senior leader in the northern region on suspicion of appointing several companies believed to be linked to him for supply projects valued at about RM300,000.</p>


Senior leader under probe for suspected cronyism over supply projects

<p>KOTA BHARU (April 28): Oil and gas exploration and production outfit Hibiscus Petroleum Bhd is looking to leverage the economic boom in the Tok Bali area (in Kelantan), by using it as one of its operating hubs.&nbsp;</p>


Hibiscus Petroleum looking to leverage the economic boom in Tok Bali

<p>KUALA LUMPUR (April 29): Mercury Securities Sdn Bhd has recommended investors “subscribe” ACE Market-bound Farm Price Holdings Bhd at an initial public offering (IPO) price of 24 sen and a fair value (FV) of 29 sen based on 13x FY2024F earnings per share, translating to 21% upside to IPO price.</...

<p>Berjaya Corp Bhd (BCorp), which last week denied that its founder Tan Sri Vincent Tan Chee Yioun had participated in talks to revive a US$100 billion (RM477.60 billion) Forest City casino resort as reported recently, has lodged reports for the police to commence investigation into the above matter, specifically to, amongst others, ascertain and find out the purported “unnamed source” who disseminated complete untrue and false statements.</p>


<p>CAIRO (April 28): Dubai's ruler Sheikh Mohammed bin Rashid al-Maktoum approved a new passenger terminal in Al Maktoum International airport worth 128 billion AED (US$34.85 billion), he said on Sunday in a post on X.</p>


Dubai ruler approves new US$35 bil airport terminal

<p>KUALA LUMPUR (April 28): Police have verified the arrest of Chegu Bard, also known as Badrul Hisham Shaharin, a member of Parti Pribumi Bersatu Malaysia's Information Committee, on Saturday (April 27), and are launching an investigation into his Facebook post regarding the purported opening of a casino in Forest City.</p>


Police detain Chegu Bard, launch investigation into casino statement

<p>When South Korea decided to host a US anti-ballistic missile system, the lucrative flow of tourists from neighboring China suddenly dried up. When Australia accused Beijing of meddling in its domestic politics and demanded answers over the origins of Covid-19, China stopped buying exports like coal, wine and beef.</p>


<p>KUALA LUMPUR (April 28): Malaysia believes there is a need to revisit commitments to sustainable development, efficient global resources and fair and balanced trade among countries, said the Ministry of Investment, Trade and Industry (Miti).</p>


Zafrul: Trade-related and ESG measures must be fair to developing countries

<p>RIYADH (April 28): Agrobank&nbsp;president and chief executive officer Tengku Ahmad Badli Shah Raja Hussin has been re-elected as vice-chairman of the Association of National Development Finance Institutions in Member Countries of the Islamic Development Bank (Adfimi) from 2025-2027.</p>


Agrobank’s Tengku Ahmad Badli Shah re-elected as Islamic bank association’s vice-chairman for 2025-2027

<p>An appliance maker in southern China is finding it hard to ship its products to Russia, not because of any problems with the gadgets but because China's big banks are throttling payments for such transactions out of concern over US sanctions.</p>


<p>RIYADH (April 28): The Asean-Gulf Cooperation Council (Asean-GCC) should find mechanisms to advance trade, investments, collaboration and research, said Malaysian Prime Minister Datuk Seri Anwar Ibrahim.</p>


Asean-Gulf Cooperation Council should find mechanisms to advance trade, investment — Anwar

<p>Once renowned as avid overseas tourists, the Japanese are staying closer to home these days.</p>


Weaker yen keeps Japanese tourists at home while visitors throng

<p>RIYADH (April 28):&nbsp;Prime Minister Datuk Seri Anwar Ibrahi&nbsp;held a bilateral meeting with President Paul Kagame of Rwanda on the sidelines of the World Economic Forum (WEF) Special Meeting here on Sunday.</p>


Anwar holds meeting with President of Rwanda

<p>Singapore Telecommunications on Monday forecast non-cash impairment provisions of S$3.1 billion (RM10.8 billion) for second-half of 2024 which would lead to the telecom giant reporting a net loss for the period.</p>


<p>CAIRO (&nbsp;April 28): A Hamas delegation will visit Cairo on Monday for talks aimed at securing a ceasefire, a Hamas official told <em>Reuters</em> on Sunday, as mediators stepped up efforts to reach a deal ahead of an Israeli assault on the southern city of Rafah.</p>


Hamas delegation to visit Cairo on Monday for Gaza ceasefire talks, Hamas official says

<p>L’Occitane International SA’s billionaire owner Reinold Geiger is close to making an offer to take the skin-care company private, according to people familiar with the matter, in a deal that could value the firm at about US$7 billion (RM33.4 billion) including debt.</p>


<p>The yen has tumbled well past levels touted as red lines for Japan and at a pace that has traders asking when authorities might start buying the currency to support it — and why they haven’t already done so.</p>


<p>Hong Kong-based insurer AIA Group on Monday posted a 31% rise in its first-quarter value of new business (VONB) on a constant exchange currency basis helped by strong performance across segments, and announced an additional US$2 billion (RM9.5 billion) share buyback.</p>


Insurer AIA's 1Q new business value rises 31%, announces US$2b buyback

<p>BEIJING/TOKYO (April 28): China's coast guard confronted Japanese lawmakers in waters claimed by both countries in the East China Sea, China's embassy in Tokyo and Japanese media said on Sunday, the latest in a series of maritime disputes involving China and its neighbours.</p>


China confronts Japanese politicians in disputed East China Sea area

<p>Border Force staff at Britain's busiest airport, Heathrow, will go on strike for four days from Monday, in protest over changes to their working conditions.</p>
