<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on June 11, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Oil palm planter Kim Loong Resources Bhd said a fire at its palm oil mill in Kota Tinggi, Johor on Sunday will disrupt its operations for at least two weeks. It is probing the cause of the fire and damage to the processing equipment.</p></div>

<div class=newsTextDataWrapInner><p>“No one was injured in the incident. The [fire] has since been put out,” it said in a filing with Bursa Malaysia yesterday. “We are assessing the financial impact on the company and will make an immediate announcement once determined.”</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Kim Loong’s net profit fell 46% to RM52.12 million in the financial year ended Jan 31, 2019 (FY19), from RM96.55 million in the previous year. Revenue dropped 1.8% to RM872.94 million from RM1.08 billion in FY18.</p></div>


KUALA LUMPUR: Oil palm planter Kim Loong Resources Bhd said a fire at its palm oil mill in Kota Tinggi, Johor on Sunday will disrupt its operations for at least two weeks. It is probing the cause of the fire and damage to the processing equipment.

“No one was injured in the incident. Th...

Kim Loong halts palm oil mill operations for at least two weeks after fire

Housing and Local Government Minister Nga Kor Ming’s press secretary Pang Sock Tao was announced as the unity government’s candidate for the Kuala Kubu Baharu by-election on May 11.

Nga's press secretary Pang picked as unity govt's candidate for Kuala Kubu Baharu by-election

(April 24): A made-in-China electric vehicle will hit U.S. dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about $8,000 less.

The EX30 from Volvo Cars, the Swedish luxury brand owned by China's Geely, foreshadows ...

How Volvo landed a cheap Chinese EV on U.S. shores in a trade war

SHANGHAI (April 25): U.S. Secretary of State Antony Blinken will meet business leaders in Shanghai on Thursday as ties between Washington and Beijing stabilise, pushing to resolve a raft of issues threatening the newly gained equilibrium between the rivals.

Blinken's visit is the l...

Blinken to meet businesses in Shanghai as he kicks off a tough China trip

VENICE (April 25): Venice becomes the first city in the world on Thursday to introduce a payment system for tourists in an effort to thin the crowds that throng the canals during the peak holiday season.

Any visitor who is not staying the night must pay a 5 euro ($5.35) entry fee online...

Overcrowded Venice introduces first payment charge for tourists

Mark Zuckerberg is asking for investors to stay patient. Again.

After Meta Platforms Inc revealed that it will spend billions of dollars more than expected this year — fueled by investments in artificial intelligence — the company’s chief executive officer did his best to soothe Wall Street.

Zuckerberg asks for patience after Meta’s AI push irks investors

Synergy House Bhd may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high.

Synergy House may trend higher, says Rakuten Trade

Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.

Singapore's Keppel profit rises on strong infra, connectivity performance

Germany is waging a charm offensive inside the Republican Party. Japan is lining up its own Trump whisperer. Mexican government officials are talking to Camp Trump. And Australia is busy making laws to help Trump-proof its US defence ties.

How US allies are preparing for a possible second Trump term

Apex Research says Ramssol is kicking off the year with a blast

MORNING CALL: 25/4/24

RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.

NationGate is observing technical breakout, says RHB Retail Research 

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


KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

<p>Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.</p>


Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

<p>A disappointing earnings report from Meta Platforms Inc has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.</p>


Meta’s miss sparks fear in tech world with big earnings looming

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EVENING 5: Five things you need to know today

<p>TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.</p>


TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

<p>The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.</p>


High Court bins Musang King farmers’ bid to challenge land eviction notice in Pahang

<p>The prosecution succeeded in its appeal at the Federal Court on Wednesday to forfeit RM1,112,700 from 79 investors involved in an illegal deposit-taking scheme.</p>


Apex court allows forfeiture of RM1.11m belonging to investors of illegal deposit-taking scheme

<p>Binance co-founder Changpeng Zhao is facing up to three years in prison, if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.</p>


Friends, family, royalty seek mercy for crypto’s richest man

<p>Benchmark S&amp;P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.</p>


S&P 500 ends higher as markets weigh rising yields, upbeat corporate results

<p>CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions.</p>


CLMT’s 1Q net property income jumps 63% to RM64m, DPU up 37%

<p>The strategic collaboration between Sabah Ports Sdn Bhd (SPSB) and DP World, a global port terminal operator, will be a boon to Sabah’s aspiration to promote the Sapangar Bay Container Port (SBCP) as a key transshipment hub in the region, said Chief Minister Datuk Seri Hajiji Noor.</p>


Hajiji: Tie-up between Sabah Ports, DP World to boost state’s aim to become transshipment hub

<p>RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.</p>


Naim Holdings likely to resume its uptrend, says RHB Retail Research 

<p>RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.</p>


<p>The Nasdaq outpaced Wall Street peers on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support.</p>


Nasdaq outshines Wall Street peers on tech boost, earnings glee 

<p>US and European shares finished mixed on Wednesday ahead of more corporate earnings this week, and the yen was mired near 34-year lows, keeping traders wary of intervention from Japan.</p>


Equities mixed as investors eye earnings; yen on intervention watch

<p>Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.</p>


<p>Synergy House Bhd may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high.</p>


<p>Mark Zuckerberg is asking for investors to stay patient. Again.</p>

<p>After Meta Platforms Inc revealed that it will spend billions of dollars more than expected this year — fueled by investments in artificial intelligence — the company’s chief executive officer did his best to soothe Wall Street.</p>


<p>Hasbro reported a smaller-than-expected drop in first-quarter sales and handily beat profit estimates on Wednesday, helped by leaner inventories and steady digital gaming revenue, sending its shares up 12%in early trading.</p>


Toymaker Hasbro's turnaround efforts help first-quarter profit beat

<p>Russia vetoed a United Nations Security Council resolution that would have reaffirmed a global commitment against deploying nuclear weapons in space, rebuffing US efforts to shine a spotlight on Moscow’s reported plans to do so.</p>
