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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: Cabinet agrees to 5G review, NFO draws cut</p></div>
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<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. Putrajaya will <a href="https://www.theedgemarkets.com/article/anwar-govt-review-plans-5g-network" target="_blank">review the country’s 5G network plan</a> and <a href="https://www.theedgemarkets.com/article/nfos-special-draws-down-eight-times-year-2023-%E2%80%94-pm" target="_blank">cut NFO special draws to eight a year</a>.</p></div>

<div class=newsTextDataWrapInner><p>2. Shares of number forecast operators (NFOs) suffer <a href="https://www.theedgemarkets.com/article/putrajayas-decision-cut-special-draws-eight-year-weighs-nfo-shares" target="_blank">another bout of politically-induced decline</a>.</p></div>

<div class=newsTextDataWrapInner><p>3. The EPF says 9M2022 <a href="https://www.theedgemarkets.com/article/epfs-9m-investment-income-falls-18-rm4802b" target="_blank">total gross investment income fell 18%</a> year-on-year to RM48.02 billion.</p></div>

<div class=newsTextDataWrapInner><p>4. TNB plans <a href="https://www.theedgemarkets.com/node/646746" target="_blank">RM20 billion annual capex</a> over the next 28 years to support Malaysia’s net-zero agenda.</p></div>

<div class=newsTextDataWrapInner><p>5. Capital A CEO Tan Sri Tony Fernandes says there will be <a href="https://www.theedgemarkets.com/article/no-merger-airasias-aviation-business-says-fernandes" target="_blank">no merger of AirAsia's aviation arm businesses</a>.</p></div>


Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 23): Malaysia has emerged as the most significant country within Asean for businesses to venture into, as shown by the UOB Business Outlook Study 2024 (SMEs & Large Enterprises).

Malaysia emerges as prime destination for Asean biz expansion — UOB study

Apple's smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020 as its dominance in the high-end segment came under pressure from Huawei's new product launches, market data showed.

Apple's 1Q smartphone shipments in China tumble 19%, data shows

Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday, thanks to buying from local and foreign institutions, said an analyst.

Bursa ends higher on buying support from local and foreign institutions

German police have arrested an assistant to a European Parliament member on suspicion of "an especially severe case" of espionage for China, prosecutors said on Tuesday, appearing to refer to a staffer for the far-right Alternative for Germany.

Germany arrests EU parliamentary staffer on China spying charges

Global shares rose on Tuesday, driven by a recovery on Wall Street, where investor focus is pinned on earnings reports from the US megacaps, while the yen hit a new 34-year low against the dollar, prompting a warning from Japanese officials.

Stocks gear up for Big Tech earnings; yen toys with danger zone 

Millennial and Generation Z (Gen Z) Muslims in Southeast Asia are increasingly embracing Islamic banking, with 77% of Malaysians and 65% of Indonesians surveyed using it alongside traditional banking, compared with only 31% globally, according to a report.

Millennial, Gen Z Muslims in Malaysia increasingly embracing Islamic banking — report

Global equities are more attractive after the recent rout removed market froth and as investors focus on robust corporate earnings, according to Citigroup Inc strategists.

Citi strategists say buy dips in global stocks on solid earnings 

Microsoft on Tuesday announced a cost-effective, small language artificial intelligence model that can perform tasks such as content creation and create social media posts while using smaller amounts of data.

Microsoft introduces smaller AI model

Chinese bubble tea maker Sichuan Baicha Baidao Industrial Co plunged more than 38% in its trading debut in Hong Kong, the latest setback for the city as it attempts to revive its moribund financial markets.

Bubble tea maker Chabaidao slumps 38% in HK’s biggest debut this year

ATX Semiconductor Group, a globally renowned semiconductor provider from China, intends to ramp up investment to US$200 million (RM952 million) for its new manufacturing plant in Melaka over the next five years for its second-phase business expansion.

ATX Semiconductor to boost investment in Melaka to RM952m

<p>The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.</p>




Najib's 1MDB-Tanore trial live reporting (April 23)

<p>Ten members of the Royal Malaysian Navy (RMN) were confirmed dead in an incident where two helicopters collided and crashed at the Royal Malaysian Navy (RMN) base in Lumut, Perak on Tuesday morning.</p>


Two helicopters crash in Lumut, 10 confirmed killed — RMN

<p>Shares of Topmix Bhd surged 32% in its trading debut on Tuesday after the surface decorative products company’s initial public offering (IPO) on the ACE Market raised RM31.7 million.</p>


Topmix surges 32% on ACE Market debut

<p>Healthcare stocks still have legs to run following the recent rally and investors should continue to buy hospital operators for their further earnings growth this year, analysts said.</p>


KPJ near record high, IHH surges as analysts bet on more upside

<p>Brazil's government said on Monday that four additional poultry plants have been cleared to sell halal products to Malaysia, a move it hopes will allow exports to the Asian country to double when compared to last year's levels.</p>


Brazil says Malaysia clears four more halal poultry plants for export

<p>Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.</p>


Eight contractors face possible MyCC fines for bid rigging in tenders worth RM473m

<p>Malaysia’s construction tender prices are&nbsp;expected to grow by 3% in 2024, compared to the previous year, driven by various factors such as project type, industry procurement strategy and currency fluctuations, according to a report by global professional services company Turner &amp; Townsend.</p>


Malaysia’s construction tender prices to grow by 3% in 2024, says Turner & Townsend

<p>Indonesian President Joko Widodo and his son, incoming vice-president Gibran Rakabuming Raka, are no longer members of the country's largest party after they backed rival candidate and election winner Prabowo Subianto, a party official said on Tuesday.</p>


Indonesia's biggest party confirms President Jokowi no longer a member after backing Prabowo

<p>Former Umno Supreme Council member Hizatul Isham Abdul Jalil or better known as Isham Jalil has offered to make an unreserved apology to bring an end to his contempt of court proceedings.</p>


Ex-Umno leader ready to apologise in contempt of court case

<p>Global shares rose on Tuesday, driven by a recovery on Wall Street, where investor focus is pinned on earnings reports from the US megacaps, while the yen hit a new 34-year low against the dollar, prompting a warning from Japanese officials.</p>


<p>Swatch Group (M) Sdn Bhd&nbsp;said the seizure of its 172 rainbow-themed watches had caused much grief to its international reputation, as the renowned Swiss watch maker had always been dutiful citizens of any state where the watches were sold.</p>


Swatch says advocating compassion for LGBTQ is not a crime, seizure illegal

<p>Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence (AI) chips through resellers, despite the US widening a ban last year on the sale of such technology to China.</p>


China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show

<p>Datin Seri Rosmah Mansor's appeal against her guilty conviction and sentence over all three counts of graft pertaining to the RM1.25 billion solar hybrid project for 369 rural schools in Sarawak will be heard in October.</p>


October hearing for Rosmah's appeal in solar project graft trial

<p>Hong Leong Investment Bank (HLIB) has a “trading buy” rating on SDS Group Bhd and said with 33 of its F&amp;B outlets situated across Johor state, and a wholesale segment that is focusing in this region, SDS appears strategically positioned to leverage the burgeoning vibrancy in Johor, propelled further by the continuous influx of visitors from Singapore.</p>


SDS strategically positioned to leverage burgeoning vibrancy in Johor, says HLIB 

<p>ATX Semiconductor Group, a globally renowned semiconductor provider from China, intends to ramp up investment to US$200 million (RM952 million) for its new manufacturing plant in Melaka over the next five years for its second-phase business expansion.</p>


<p>Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is still in the pre-qualification stage for the acquisition of national carrier SriLankan Airlines.&nbsp;</p>

<p>However, AirAsia Consulting has yet to submit any price bid since due diligence has not been carried out, its chief executive officer Subashini Silvadas told <em>The Edge</em> on Tuesday.</p>


Capital A’s unit in RFQ process for SriLankan Airlines, no price bid yet

<p>Malton Bhd has unveiled the final tower (Block B) of River Park, following the successful launch of its previous Tower A and Tower C blocks with more than 70% take-up rate.</p>


Malton unveils River Park's final tower

<p>Bursa Malaysia opened higher on Tuesday, taking its cue from Wall Street’s better performance overnight, as sentiment improves after Iran said it will not escalate the conflict with Israel, said an analyst.</p>


Bursa up in early trade, tracking Wall Street overnight

<p>The two helicopters which collided and crashed at the Royal Malaysian Navy (RMN) Base were undergoing a rehearsal for the third time in conjunction with RMN Fleet Open Day celebration scheduled on Saturday (April 27).</p>


RMN helicopters involved in third rehearsal before incident — Khaled Nordin

<p>Rakuten Trade has a “buy” rating on ACE Market-bound surface decorative products company Topmix Bhd at an initial public offering (IPO) price of 31 sen, with a fair value of 40 sen based on financial year 2024 (FY2024) forecast price-earnings (PE) of 15x, in line with industry peers.</p>
