<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 14): Gamuda Bhd lost 17% in early trade this morning as the market reacted negatively to the stock which is highly exposed to several rail contracts.</p></div>

<div class=newsTextDataWrapInner><p>At 9.20am, Gamuda fell 88 sen to RM4.22 with 4.64 million shares done.</p></div>

<div class=newsTextDataWrapInner><p>In a note yesterday, CIMB IB Research had downgraded Gamuda from Add to Reduce with a lower target price of RM4.50 based on higher RNAV discount of 30% from 10% previously.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Gamuda is the most exposed to rail contracts via MRT 3 (Circle Line) and KL-Singapore HSR. It also owns four highway concessions,” said the research house.</p></div>


KUALA LUMPUR (May 14): Gamuda Bhd lost 17% in early trade this morning as the market reacted negatively to the stock which is highly exposed to several rail contracts.

At 9.20am, Gamuda fell 88 sen to RM4.22 with 4.64 million shares done.

In a note yesterday, CIMB IB Research ...

Gamuda falls 17% in post election trade 

Bill Gross, who pioneered the “total return” strategy in the 1980s that revolutionized the bond market, says the approach is now defunct.

Bill Gross says ‘total return’ strategy he pioneered is ‘dead’

The High Court on Thursday upheld the conviction and 12-year prison sentence against Rumah Bonda founder Siti Bainun Ahd Razali for neglecting and abusing Bella, a teenage girl with Down’s syndrome.

Bella case: High Court upholds Siti Bainun's conviction and sentence  

Blogger Wan Muhammad Azri Wan Deris, or Papagomo, was charged in the Sessions Court here on Thursday with posting seditious articles against His Majesty Sultan Ibrahim, King of Malaysia on his X account.

Wan Muhammad Azri, 41, who is also a former Umno Youth exco member, pleaded not guilty to the charge before Judge Siti Aminah Ghazali.

Papagomo charged with sedition against King

South Malaysia Industries Bhd (SMI) has appointed Leow Thang Fong as its new chief executive officer, effective May 1, two months after a group of shareholders rejected him from being re-elected executive director at its annual general meeting (AGM).

SMI makes Leow Thang Fong CEO after his reappointment as ED rejected at AGM

Prime Minister Datuk Seri Anwar Ibrahim said addressing issues such as hardcore poverty, infrastructure development and basic amenities remain an enduring commitment of the Madani Government, particularly in Kelantan.

He said these issues should ideally be resolved promptly to overcome prolonged hardship for those affected.

Madani Govt firmly committed to resolving people's issues, hardcore poverty — PM

The Federal Government agrees with the Kelantan government's proposal to extend the runway at the Sultan Ismail Petra Airport by 400 metres for it to become an international airport.

Prime Minister Datuk Seri Anwar Ibrahim said he had asked Transport Minister Anthony Loke Siew Fook to expedite the ongoing construction of the airport.

Sultan Ismail Petra Airport to be upgraded as international airport — Anwar

Datuk Seri Anwar Ibrahim on Thursday reprimanded the Immigration Department over congestion issues at the country’s borders, particularly in airports.

Describing the rebuke as akin to "parental love" to improve congestion issues at counters handling entry of tourists, the prime minister said tourists would not accept excuses for delays, and hoped the issue could be dealt with effectively.

PM rebukes Immigration Dept over tourist entry congestion

Prime Minister Datuk Seri Anwar Ibrahim held a closed-door meeting on Thursday with Kelantan Menteri Besar Datuk Mohd Nassuruddin Daud regarding the development of the state.

It is understood that the briefing on this matter was delivered by Mohd Nassuruddin

Anwar holds closed-door meeting with Kelantan MB

Ajinomoto (M) Bhd’s RM2.12 special dividend announced in July last year in conjunction with a land disposal exercise will go ex on May 15.

Ajinomoto’s special dividend of RM2.12 goes ex on May 15

Former attorney general Tan Sri Mohamed Apandi Ali's special officer could have won her defamation suit against Sarawak Report editor Clare Rewcastle-Brown, if not for a technicality — that all court pleadings must be filed in Bahasa Melayu, according to the High Court judicial commissioner who presided over the case.

Court says Apandi's former aide could have won defamation suit against Sarawak Report editor if not for a technicality

<p>US software giant Microsoft Corp said on Thursday it would invest US$2.2 billion (RM10.5 billion) over the next four years in cloud and artificial intelligence (AI) infrastructure in Malaysia.</p>


Microsoft to invest US$2.2 bil in Malaysia over next four years on cloud, AI

<p>Protasco Bhd, which has businesses ranging from hotel to engineering, said on Thursday it has received an offer to buy its unit Ikram Education Sdn Bhd which owns the Infrastructure University Kuala Lumpur (IUKL).</p>


Protasco gets offer from HK firm to buy its university unit

<p>Feytech Holdings Bhd's initial public offer (IPO) on Main Market of Bursa Malaysia is offering&nbsp;252.94 million shares at 80 sen apiece.&nbsp;</p>


Feytech's Main Market IPO to raise over RM201m

<p>Subang Airport, officially known as Sultan Abdul Aziz Shah Airport, will likely be able to handle jet aircraft by the third quarter this year, according to Transport Minister Anthony Loke.</p>


Subang Airport’s jet ops likely to start in 3Q, also eyes business jets — Loke

<p>Mechanical and electrical engineering services provider Pasukhas Group Bhd has secured a RM56.98 million contract to build a data centre in Selangor.</p>


Pasukhas secures RM57m contract from US company to build data centre in Selangor 

<p>The additional investment by Microsoft amounting to US$2.2 billion or RM10.5 billion in the country over the next four years is the largest single investment by the company in its 32 years in Malaysia.</p>


Microsoft’s new US$2.2b outlay is company’s largest single investment in Malaysia, says Anwar

<p>The High Court on Thursday dismissed Tengku Datuk Zafrul Abdul Aziz's application to file an affidavit with regards to Datuk Seri Najib Razak's judicial review application to unearth an addendum to his pardon order that detailed he was to spend the remainder of his sentence under "house arrest".</p>


Court rejects Zafrul’s bid to file affidavit on Najib’s ‘house arrest’ order

<p>Smart Asia Chemical Bhd, an industrial paint and coating manufacturer, on Thursday has begun taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM37.4 million.&nbsp;</p>


Smart Asia Chemical starts taking orders for ACE Market IPO to raise RM37.4 mil

<p>Shares of Ge-Shen Corp Bhd rose as much as 14.91% to a new record high of RM4.47 on Thursday, following the emergence of Chin Hin Group’s Chiau family as its second largest shareholder.</p>


Ge-Shen shares hit new high on emergence of new substantial shareholder

<p>Yinson Production, the offshore production business unit of Yinson Holdings Bhd, has closed the limited recourse term loan facility of up to US$1.3 billion (RM6.2 billion) for the pre- and post-delivery financing of the Agogo floating, production, storage and offloading (FPSO) vessel, which will be deployed in Angola.</p>


Yinson unit secures single largest term loan of US$1.3b to finance Agogo FPSO delivery

<p>US President Joe Biden included ally Japan along with rivals China and Russia in a list of countries he called “xenophobic” in a speech at a campaign fundraising event in Washington.</p>


Biden calls ally Japan ‘xenophobic’ along with China, Russia

<p>theedgemalaysia.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close on Thursday. Two stocks showed positive momentum while five stocks showed negative momentum.</p>


GHL Systems, Oppstar, Bursa Malaysia, Country View, Fiamma, Marco, Tambun Indah 

<p>Malaysia’s biggest port operator Westports Holdings Bhd said on Thursday its net profit rose 11.4% year-on-year (y-o-y) in the first quarter, thanks to higher container revenue, coupled with higher finance income and share of results of a joint venture (JV).</p>


Westports' 1Q net profit up 11% on higher container revenue, finance income and share of results of JV

<p>Smart Asia Chemical Bhd, en route to Bursa Malaysia’s ACE Market, expects its new plant in Perak to triple its production capacity while allowing the paint and coating manufacturer to be closer to its clients.</p>


Smart Asia Chemical to triple capacity with new plant from IPO proceeds

<p>IT will be a busy year for the energy sector. Over the past month, there has been a slew of announcements, with the latest being the establishment of the Energy Exchange Malaysia (Enegem).</p>

<p>The Enegem programme will start with a project with a pilot auction of 100mw of renewable energy (...

Cover Story: A busy year for RE players

<p>The El Nino phenomenon hitting the country is expected to continue for the next two months, said Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.</p>


El Nino to last two more months; 2024 could be Malaysia’s hottest year — Nik Nazmi 

<p>South Korea's SK Hynix said on Thursday its high-bandwidth memory (HBM) chips used in AI chipsets were sold out for this year and almost sold out for 2025 as businesses aggressively expand artificial intelligence services.</p>


Nvidia supplier SK Hynix says HBM chips almost sold out for 2025

<p>Local authorities' investigations into 1Malaysia Development Bhd (1MDB) involved "thousands" of documents, and not all of them could be specifically shown to imprisoned former prime minister Datuk Seri Najib Razak when his statement was recorded, the court heard on Thursday.</p>


MACC IO says 'thousands' of docs involved in 1MDB probe, impossible to show each one to Najib

<p>Food ingredients supplier Agricore CS Holdings Bhd said on Thursday it has signed an agreement with M&amp;A Securities to underwrite its initial public offering (IPO) on the ACE Market.</p>


Agricore CS signs underwriting agreement for ACE Market IPO

<p>DBS Group Holdings Ltd was hit by renewed disruptions to its Internet banking and payment services in Singapore on Thursday, days after a six-month ban by the island’s central bank over similar glitches ended.</p>
