<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 30): Cocoa products maker Guan Chong Bhd saw its net profit for the first quarter ended March 31, 2018 (1QFY18) surge seven times to RM39.3 million from RM5.75 million a year earlier, due mainly to increasing sales volume and an improved margin for the current quarter.</p></div>

<div class=newsTextDataWrapInner><p>However, group revenue fell 17.7% to RM519.7 million from RM631.3 million in 1QFY17, mainly due to a decrease in overall selling price of cocoa products and a weakening of the US dollar against the ringgit.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia, the group said it expects the business environment for the financial year ending &nbsp;Dec 31, 2018 (FY18) to be less volatile.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We expect that our overall performance [will] remain positive, as strong growth of global demand for chocolate is projected,” the filing said.</p></div>

<div class=newsTextDataWrapInner><p>Guan Chong will continue to focus on efforts to explore new markets for its wide range of cocoa ingredients, optimise production according to market conditions and expand overall grinding capacity.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>As at 12.22pm today, Guan Chong fell 5.95% or 10 sen to RM1.58, with 226,100 shares done.&nbsp;</p></div>


KUALA LUMPUR (May 30): Cocoa products maker Guan Chong Bhd saw its net profit for the first quarter ended March 31, 2018 (1QFY18) surge seven times to RM39.3 million from RM5.75 million a year earlier, due mainly to increasing sales volume and an improved margin for the current quarter.

Guan Chong 1Q net profit surges to RM39.3 mil on higher sales volume

Four of seven ships trapped in Baltimore Harbour since the Francis Scott Key Bridge collapsed last month have cleared the wreckage and are en route to their destinations.

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Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data centre and PC chips and trails in the surging market for artificial intelligence (AI) components.

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China’s top diplomat Wang Yi warned his American counterpart that problems are mounting between the world’s largest economies, as the US threatens Beijing with sanctions for its support of Russia.

China warns Blinken ‘negative factors’ building in US relations

Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence (AI) across its cloud services, and the company's shares jumped more than 4% in extended trade.

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The US plans to award Micron Technology Inc US$6.1 billion (RM29.14 billion) in grants and as much as US$7.5 billion in loans to help the memory-chip maker build new American factories, rounding out a slew of major federal awards for advanced semiconductor manufacturing.

Micron clinches up to US$13.6b in US grants, loans

US Treasury Secretary Janet Yellen said on Thursday the strong dollar reflected the strength of the US economy and high interest rates, insisting that interventions by governments in currency markets were acceptable only in rare circumstances.

Yellen says currency intervention acceptable only in rare situations

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds four entities to Investor Alert List, two being potential clones

Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

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HLIB is positive on how AME REIT ended the year.

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China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence (AI), an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competitor.

China prepares UN resolution to tap AI for good

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:</p>


AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

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<p>TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.</p>


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<p>Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.</p>


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<p>Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.</p>


<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


<p>US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told <em>Reuters </em>on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.</p>


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<p>EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.</p>


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<p>Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.</p>


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<p>RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.</p>


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<p>Infoline Tec Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.</p>


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<p>RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.</p>


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<p>The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.</p>


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<p>Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.</p>


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<p>Alphabet announced its first-ever dividend on Thursday and a US$70 billion (RM334.43 billion) stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.</p>


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<p>One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other — Sunday's short trip to arch-rivals Tottenham Hotspur.</p>


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<p>China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence (AI), an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competitor.</p>


<p>Foreign states are using UK universities to “steal advantage” by covertly acquiring British intellectual property, the government warned, saying it would explore proposals to protect cutting-edge research and technology.</p>


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<p>Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram owner Meta hammered the tech sector, and Japan's yen sank through 155 per dollar for the first time since 1990.</p>
