<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 2): Datuk Sri Mahamad Fathil Datuk Mahmood, the former chairman of Bumi Armada Bhd has ceased to be a substantial shareholder in the floating production, storage and offloading (FPSO) player.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, it was revealed that Mahamad Fathil, who resigned as chairman of Bumi Armada in June 2014, ceased to be a substantial shareholder in the company on June 30 this year after he disposed of 414.6 million shares representing a 7.07% stake in the company via Ombak Damai Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>“Mahamad Fathil ceased to be a substantial shareholder of Bumi Armada by virtue of the disposal by him of all of his direct interest in Ombak Damai, by virtue of which he has ceased to have any deemed interest in Bumi Armada held by Ombak Damai,” said Bumi Armada in its announcement today.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Bumi Armada (fundamental: 1.05; valuation: 0.8) shares closed down 1 sen, or 0.84% today at RM1.18 with a market capitalisation of RM6.92 billion.</p></div>

<div class=newsTextDataWrapInner><p><span style="font-size:12px"><em>(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)</em></span></p></div>

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KUALA LUMPUR (July 2): Datuk Sri Mahamad Fathil Datuk Mahmood, the former chairman of Bumi Armada Bhd has ceased to be a substantial shareholder in the floating production, storage and offloading (FPSO) player.

In a filing with Bursa Malaysia today, it was revealed that Mahamad Fathil, ...

Bumi Armada former chairman ceases to be substantial shareholder

KUALA LUMPUR (May 10): Bursa Malaysia Securities Bhd (Bursa Securities) on Friday lifted Awanbiru Technology Bhd (KL:AWANTEC), formerly Prestariang Bhd, from its status as an affected listed issuer, after three years.

Bursa lifts Awantec from affected issuer status after three years

KUALA LUMPUR (May 10): The Securities Commission Malaysia (SC) has brought charges against two companies and one individual for offences relating to unlicensed capital market activities.

SC charges Pixelvest, Infinity Trustee and a former director with unlicensed capital market offences

Honda Motor Co forecast another year of record profit on solid demand for hybrids in the US and two wheelers in Asia.

Honda to boost buybacks, sees another record profit on hybrids

(May 10): China is selling more and buying less from Asia, raising the prospect of the mainland exporting deflation to the region, according to economists at Nomura Holdings Inc.

China’s mounting Asia exports increase regional deflation risks — Nomura

Ares Management Corp and Tor Investment Management won a Singaporean court ruling that found an Indonesian borrower in contempt over a US$200 million (RM947.78 million) private credit loan, marking a rare win for direct lenders grappling with legal complexities in Asia.

Private credit lender Ares wins Singaporean court ruling on Indonesia debtor

Global shares rose to one-month highs on Friday while the dollar held steady, giving commodities a boost, after softer US jobs data gave investors confidence that interest rates will start to decline this year.

Stocks enjoy bounce from rate-cut fever 

Speaking at the launch of CIMB Securities, MoF II Datuk Seri Amir Hamzah Azizan said that its participation in the capital market scene will increase the vigour of the Malaysian financial market

NEWS: MOF II: CIMB Securities will add vigour to the market

CIMB Securities, which had its launch today, says that it is targeting “high” single-digit growth in market share by the end of this year

NEWS: CIMB Securities eyes single-digit growth in market share

Shares of Sungei Bagan Rubber Co (Malaya) Bhd (KL:SBAGAN) rose as much as 76 sen or 15.29% to a new record high on Friday, following news a privatisation bid for Great Eastern Holdings Ltd, in which it owns a 1% stake.

Sg Bagan shares jump 15% to record high on Great Eastern privatisation bid

Lim Oon Kuin, founder of collapsed oil firm Hin Leong Trading Pte., has been convicted of three criminal charges after a lengthy trial in Singapore, the Business Times reported.

Singapore’s oil veteran OK Lim convicted of criminal charges

<p>Hong Leong Investment Bank (HLIB) Research has a “trading buy” rating on Genting Bhd (KL:GENTING) at RM4.52 with a target price of RM7.12 and said it continues to like Genting for its well-established operational presence across diverse regions, mitigating regulatory and country risks.</p>


HLIB says Genting is undervalued, target price RM7.12

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>KUALA LUMPUR (May 10): Datin Seri Rosmah Mansor faces another legal action, this time revolving around from 1Malaysia Development Bhd (1MDB), SRC International Sdn Bhd and subsidiaries over luxury goods that were allegedly obtained through misappropriated funds.</p>


1MDB, SRC file fresh civil suit against Rosmah over US$350 mil luxury goods

<p>With signs of a simmering settlement with the government in one of the longest-standing civil land disputes in history dissipating, the Court of Appeal (COA) has fixed Sept 19 to hear the appeal by Semantan Estate (1952) Sdn Bhd in its seven-decade dispute over 263.272 acres of land along Jalan Duta that is currently occupied by public properties.</p>


No settlement in sight, Semantan Estate’s appeal to resume in September

<p>Shares of MCE Holdings Bhd (KL:MCEHLDG) rose to their highest in at least two decades after the automotive parts manufacturer said Brahmal Vasudevan of private equity firm Creador is its newest substantial shareholder.</p>


MCE Holdings surges to highest in at least two decades

<p>CIMB Securities Sdn Bhd, a unit of CIMB Group Holdings Bhd (KL:CIMB), said on Friday it is targeting “high” single-digit growth in market share by year end.</p>


CIMB Securities eyes single-digit growth in market share by year end

<p>SINGAPORE (May 10): Oversea-Chinese Banking Corporation Ltd (OCBC) has announced a S$1.4 billion voluntary unconditional general offer for the 11.56% stake in Great Eastern Holdings (GEH) that it does not currently own.</p>


Singapore’s OCBC makes privatisation bid for Great Eastern with S$25.60 offer price

<p>TA Securities has valued ACE Market-bound Smart Asia Chemical Bhd (SAC) at 12 times calendar year 2025 (CY2025) earnings per share (EPS), arriving at a fair value of 54 sen.</p>


TA Securities values ACE Market-bound Smart Asia Chemical at 54 sen 

<p>KUALA LUMPUR (May 10):&nbsp; <a href="https://theedgemalaysia.com/" target="_blank">theedgemalaysia.com</a> highlighted three stocks with positive momentum and five stocks with negative momentum at Bursa Malaysia’s afternoon close on Friday. &nbsp;</p>


Kuchai, VSTECS, AHB, Mclean, Kluang, Prtasco, Skywld, Kobay

<p>Shares of Globetronics Technology Bhd [KL:GTRONIC] surged on Friday as analysts project a promising outlook for the group's earnings in the second half of the financial year 2024 (2HFY2024), despite first quarter performance below consensus expectations.&nbsp;</p>


Globetronics surges to one-month high as analysts project strong outlook for 2HFY2024

<p>Tan Sri Azam Baki's contract as chief commissioner of the Malaysian Anti-Corruption Commission has been extended for another year, starting&nbsp;this Sunday (May 12).</p>


Azam Baki’s contract as MACC chief commissioner extended for another year

<p>Malaysia’s industrial output rose at a faster-than-expected pace in March from a year earlier with the manufacturing sector leading broad gains, the Department of Statistics Malaysia (DOSM) said on Friday.</p>


Malaysia's industrial output grows faster-than-expected in March, official data shows

<p>KUALA LUMPUR/MUMBAI (May 10): Malaysia’s palm oil stocks increased at the end of April for the first time in six months, as production jumped despite a drop in exports, the industry regulator said on Friday.</p>


Malaysia’s palm oil stocks surge as output jumps despite weak exports

<p>Bank Negara Malaysia (BNM) imposed a RM96,250 compound on Habib Jewels Sdn Bhd for non-compliance with the law on anti-money laundering and counter-terror financing.</p>


BNM slaps Habib Jewels with RM96,250 compound for failing to report suspicious transactions

<p>Shares of Sungei Bagan Rubber Co (Malaya) Bhd (KL:SBAGAN) rose as much as 76 sen or 15.29% to a new record high on Friday, following news a privatisation bid for Great Eastern Holdings Ltd, in which it owns a 1% stake.</p>


<p>Inter-Pacific Research Sdn Bhd said that after a two-day consolidation, the key FBM KLCI index could mount a rebound to end the week on a firmer note.</p>


KLCI seen hovering between 1,600 and 1,610 on Friday

<p>KUALA LUMPUR (May 10): Bursa Malaysia’s&nbsp;all-time high indicates that measures under the Madani framework are building investor&nbsp;confidence, said Finance Minister II Senator Datuk Seri Amir Hamzah Azizan.&nbsp;</p>


Bursa’s all-time high indicates Madani Framework is building investor confidence — Amir Hamzah

<h3>Directors’ duties with respect to&nbsp;financial statements</h3>

<p>In 2011, in the case of Australian Securities and Investments Commission v Healy &amp; Ors, the Federal Court of Australia delivered an important ruling and laid down important principles of law on the standard of care for th...

My Say: Court rulings on chairperson’s and directors’ duties raise cautions for holders of these posts

<p>Phillip Capital has maintained its “buy” rating on Pentamaster Corp Bhd (KL:PENTA) at RM4.44 with a higher target price of RM6.23 (from RM5.65) and said Pentamaster’s first quarter of 2024 (1Q2024) core net profit of RM24 million was in line with its and consensus forecasts.</p>


Phillip Capital raises target price for Pentamaster to RM6.23 

<p>Supermax Corp Bhd’s (KL:SUPERMX) plan to take full control of its loss-making Canadian unit will drag on its balance sheet and income statement, Kenanga Investment Bank flagged.</p>
