<div class=newsTextDataWrapInner>FBM KLCI closes down 3.35 points at 1,571.15 
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FBM KLCI closes down 3.35 points at 1,571.15
 
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FBM KLCI closes down 3.35 points at 1,571.15

THE last few years have seen multiple challenges that tested the financial resilience of companies, from Covid-19 to the post-pandemic commodity and inflation shocks, which in turn spurred interest rate hikes that indirectly skewed global currency exchange trends.

The surprising good ne...

Cover Story: More PLCs have stronger balance sheets than before pandemic

Taiwanese chipmaker TSMC posted a 9% rise in first-quarter net profit on Thursday that beat market expectations as it rides a wave of demand for semiconductors used in artificial intelligence applications.

TSMC's first quarter profit rises 9%, beats forecasts

The concessionaire of the Petaling Jaya Dispersal Link (PJD Link) highway believes the project remains viable and will continue to pursue its realisation.

PJD Link concessionaire says project remains viable, studying realignment

Abu Dhabi's largest Islamic bank is in talks to buy a minority stake valued at around US$1.1 billion (RM5.3 billion) in Indonesia's top Islamic lender, Bank Syariah Indonesia, two sources told Reuters, with an aim to tap into a fast-growing market in Southeast Asia.

Abu Dhabi Islamic Bank in talks to buy US$1.1b stake in Indonesian lender — Reuters

WeWork Inc founder Adam Neumann has made a fresh push to buy back the firm even as it seeks hundreds of millions of dollars to emerge from bankruptcy and avoid a sale, FT reported on Thursday.

Adam Neumann moves to buy back WeWork as it seeks funds to exit bankruptcy — FT 

The Philippines' decision to ramp up ties with Japan and the US at a recent summit was a "sovereign choice" for the country, its foreign ministry said on Thursday in response to China's comments opposing the trilateral meeting.

Philippines says decision to strengthen ties with Japan, US a 'sovereign choice'

At this year’s China Development Forum (the highest-level annual meeting between senior Chinese policymakers and top CEOs, current and former policymakers, and academics like me), the discussion focused squarely on the risk of China falling into the dreaded “middle-income trap”. After all, few em...

After The Storm: China confronts the middle-income trap

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.

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

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.

Bursa mixed at midday break, key index up

Since its inception in 1944, Kia, the oldest vehicle manufacturer in South Korea, has been a trailblazer in the global automotive industry. From its humble beginnings crafting bicycles and motorcycles, Kia has evolved into a powerhouse within the Hyundai Motor Group.

Revolutionising the road: How Kia is shaping the future of EVs

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.

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

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).

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

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.

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

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.

Google fires workers protesting US$1.2b Israeli contract

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.

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

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.

Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

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.

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

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).

Stop buying gold ETF as prices may correct — Philip Capital

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.

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

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.

Analysts remain sanguine on IGB REIT’s prospects going forward

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.

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

Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook.

Asian stocks mixed as soaring dollar pauses

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.

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

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.

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

The stock market saw its longest losing streak since January as a handful of big techs sold off — despite a slide in bond yields.

S&P 500 suffers its longest slide since January

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;

Federal Reserve Bank of Cleveland president Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.

Mester says US Fed can hold rates steady, not in a hurry to cut

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.

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

China Tianrui Group Cement Co said a sudden drop in its stock last week triggered a margin call involving a major shareholder, explaining the dynamic behind a dramatic plunge that wiped out nearly all of its market value.

Mystery stock crash in China cement maker linked to margin call

The ringgit extended Wednesday’s gains to open higher against the US dollar on Thursday as the greenback retreated from multi-month highs after a pullback in US Treasury yields, said an analyst.&nbsp;