<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 13): CIMB Research has maintained its Overweight rating on the Malaysian power sector with catalysts anticipated from ETP-backed electricity demand and power-plant tenders.</p></div>
<div class=newsTextDataWrapInner><p>In a note March 12, the research house said all major power generators had made pre-qualification submissions for a 2GW greenfield coal power plant.</p></div>
<div class=newsTextDataWrapInner><p>“They include 1MDB, Tenaga, Malakoff and YTL. A bid by Automan Energy was a surprise as news reports once hinted of an exit by the Negri Sembilan royal family.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
<div class=newsTextDataWrapInner><p>“Our top pick remains Gas Malaysia for its defensive earnings, debt-free balance sheet and strong cash flows,” it said.</p></div>

KUALA LUMPUR (March 13): CIMB Research has maintained its Overweight rating on the Malaysian power sector with catalysts anticipated from ETP-backed electricity demand and power-plant tenders.
In a note March 12, the research house said all major power generators had made pre-qualification submissions for a 2GW greenfield coal power plant.
“They include 1MDB, Tenaga, Malakoff and YTL. A bid by Automan Energy was a surprise as news reports once hinted of an exit by the Negri Sembilan royal family.
“Our top pick remains Gas Malaysia for its defensive earnings, debt-free balance sheet and strong cash flows,” it said.

CIMB Research: Power sector remains Overweight, Gas M’sia top pick 

Surface decorative products company Topmix Bhd reported RM2.84 million net profit on the back of RM21.64 million revenue for the fourth quarter ended Dec 31, 2023 (4QFY2023), ahead of its listing on Bursa Malaysia’s ACE Market.

Topmix posts RM2.84 mil net profit in 4Q ahead of ACE Market listing

Pansar Bhd has secured a contract worth RM269.1 million to upgrade the capacity of a water treatment plant in Sibu, Sarawak.

The construction and infrastructure outfit secured the job from Lembaga Air Sibu via an open tender, through its wholly owned Perbena Emas Sdn Bhd.

Pansar bags RM269m job to upgrade water treatment plant in Sarawak

KUALA LUMPUR (April 18): Global video game commerce company Xsolla, Inc has collaborated with Curine Ventures to launch the Xsolla Curine Academy (XCA) in KL Eco City.

Xsolla Curine Academy launched to foster growth in game development industry

Australia brought 23 companies seeking investment in maritime decarbonisation and renewable energy (RE) sectors to Malaysia as part of the Australia-Southeast Asia Business Exchange programme.

Australia brings 23 firms looking to invest in maritime decarbonisation, RE sectors in Malaysia

Bank of Japan (BOJ) board member Asahi Noguchi said on Thursday the pace of future rate hikes would likely be much slower than that of its global peers in recent policy tightening, as the impact of rising domestic wages had yet be fully passed onto prices.

Bank of Japan's Noguchi says future rate hikes likely to be slow

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiTech Padu Bhd, just one month after acquiring a 15.9% stake via a private vehicle in the company.

Amid controversy over govt contracts, Farhash ceases to be HeiTech Padu substantial shareholder after one month

Malaysia Building Society Bhd (MBSB) has recommended a final dividend of 3.5 sen for the financial year ended Dec 31, 2023 (FY2023).

This would equate to a payout of RM287.78 million, based on the bank’s share base of 8.22 billion shares as at end-December 2023, according to MBSB’s bourse filing on Thursday.

MBSB proposes 3.5 sen dividend for FY2023

Bursa Malaysia continued its upbeat momentum to end higher for the second straight day on Thursday, due to an improvement in sentiment and a resurgence in bargain-hunting following the recent downturn, said an analyst.

Bursa closes higher on improved sentiment, bargain hunting

Japanese companies have agreed to raise pay by 5.20% on average this year, the biggest rise in 33 years, the country's largest union group Rengo said on Thursday, wrapping up its fourth tally of the 2024 labour talks.

Japan said to see biggest pay hikes in 33 years

Malaysia needs to restructure the whole ecosystem of technical and vocational education and training (TVET) programmes, so that it can effectively meet the industry’s requirements, said Federation of Malaysian Manufacturers (FMM) president Tan Sri Soh Thian Lai.

Revamp needed for TVET ecosystem to reduce mismatch, says FMM president

<p>The Malaysian aviation industry may be badly impacted on passenger traffic and spikes in jet fuel prices if a full-blown war results from escalating geopolitical tensions in the Middle East, according to Maybank Investment Bank Research (Maybank IB).</p>


Malaysia's aviation industry at risk amid full-blown crisis in Middle East — Maybank IB

<p>Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.</p>


PIE Industrial extends rally to new all-time high as Kenanga flags new client

<p>Several Malaysia Airlines and AirAsia flights between Sabah, Sarawak, and Kuala Lumpur International Airport (KLIA) were cancelled on Thursday due to volcanic eruption at Mount Ruang, Indonesia.</p>


Malaysia Airlines, AirAsia cancel flights to Sabah, Sarawak after volcano eruption in Indonesia

<p>Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.</p>


Google fires workers protesting US$1.2b Israeli contract

<p>The race for the “world’s best airport” crown has been a two-horse affair in recent years, with Doha’s Hamad International and Singapore Changi leading the pack.</p>


Singapore loses ‘world’s best airport’ crown to Qatar

<p>The Federal Court on Thursday dismissed an appeal by the Petaling Jaya City Council (MBPJ) over the Court of Appeal’s decision last year that decided that non-paying members in a residential area (RA) could raise the boom gates at the entrance to the housing area themselves without the security guards' assistance.</p>


Federal Court dismisses MBPJ’s appeal on residents' boom gate operation

<p>Gold prices may correct amid potential delay in the anticipated rate cuts by the US Federal Reserve, Philip Capital warned on Thursday and advised investors to stop buying Malaysia’s sole gold exchange-traded fund (ETF).</p>


Stop buying gold ETF as prices may correct — Philip Capital

<p>Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.</p>


Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO  

<p>Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.</p>


Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

<p>Apple Inc chief executive officer Tim Cook will meet Singapore’s leader at the tail end of his most extensive Southeast Asia tour in years, searching for new growth markets and manufacturing locations to offset headwinds in China.</p>


Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

<p>KUALA LUMPUR (April 18): Smart Asia Chemical Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.</p>


Smart Asia Chemical inks underwriting agreement with Mercury Securities en route to ACE Market IPO

<p>President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.</p>


Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

<p>Research analysts covering IGB Real Estate Investment Trust (IGB REIT) remained sanguine on the stock’s prospects after it reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31, 2024 (1QFY2024) to RM124.24 million, from RM118.55 million a year earlier, thanks largely to higher rental income.</p>


Analysts remain sanguine on IGB REIT’s prospects going forward

<p>Elon Musk said some of the severance packages sent to former Tesla Inc employees as part of its biggest-ever workforce reduction were too low.</p>


Musk apologises for ‘incorrectly low’ Tesla severance packages

<p>KUALA LUMPUR (April 18): Food and supplement company OB Holdings Bhd said on Thursday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, to raise funds for expansion.</p>


OB Holdings gets approval for ACE Market IPO, targets listing in 4Q

<p>Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.</p>


HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

<p>Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.&nbsp;</p>


Bursa mixed at midday break, key index up

<p>Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.</p>


Malaysia’s Axiata, Bharti Airtel of India to combine Sri Lankan ops

<p>Alphabet-owned Google&nbsp;is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.</p>


Google lays off employees, shifts some roles abroad amid cost cuts

<p>The Malaysian Bar argued in court that its challenge against Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's conditional discharge is not academic as it may determine the fate of the Yayasan Akalbudi graft case.</p>
