<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 29):&nbsp;Luxchem Corp Bhd's net profit for the second quarter ended June 30, 2020 (2QFY20) fell 23.45% to RM7.57 million, from RM9.89 million a year earlier, mainly dragged down by its manufacturing segment.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing today, Luxchem said revenue fell to RM140.29 million, from RM188.39 million, mainly attributable to its trading segment.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share slipped to 0.85 sen versus 1.13 sen previously.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Luxchem declared a single-tier interim dividend of one sen per share for FY20, to be paid on Sept 30.</p></div>

<div class=newsTextDataWrapInner><p>For the first half ended June 30, 2020 (1HFY20), Luxchem’s net profit slipped to RM17.55 million, from RM19.42 million, on the back of a revenue of RM314.77 million versus RM390.84 million.</p></div>

<div class=newsTextDataWrapInner><p>Reviewing its results and prospects, Luxchem said its performance can be affected by fluctuations in US dollar/ringgit exchange rates, raw material price fluctuations, raw material demand and supply situations, competition and the current Covid-19 pandemic situation.</p></div>

<div class=newsTextDataWrapInner><p>“The group will continue to improve its own productivity and efficiency to face these external uncontrollable factors,” it said.</p></div>

<div class=newsTextDataWrapInner><p>At the midday break, Luxchem was 1.17% or one sen higher at 86.5 sen, with 58.42 million shares traded.</p></div>


Luxchem Corp Bhd's net profit for the second quarter ended June 30, 2020 (2QFY20) fell 23.45% to RM7.57 million, from RM9.89 million a year earlier, mainly dragged down by its manufacturing segment.

Luxchem 2Q net profit falls 23.5% to RM7.57m, declares one sen dividend

Canadian police on Friday made arrests linked to the murder of Sikh separatist leader Hardeep Singh Nijjar in the province of British Columbia in June 2023, a source directly familiar with the matter said.

The source, who requested anonymity given the sensitivity of the case, said the Royal Canadian Mounted Police would brief media later on Friday.

Canada police make arrests linked to murder of Sikh leader Hardeep, says source

Just over six months ahead of the US election, the world is starting to consider what a return to a Trump presidency might mean. While Americans might be weighing up the difference between the two candidates domestic policies, the rest of the globe is more interested in what foreign policy decisions he might make.

What a second Trump presidency might mean for the rest of the world

The European Commission has warned three Chinese electric vehicle makers that they have not supplied sufficient information for its anti-subsidy investigation, according to two people familiar with the case.

If the Commission concludes that the provided information from sampled companies BYD, SAIC and Geely is insufficient, it could use evidence available elsewhere to compute tariffs, a move that can inflate them.

EU says information from three Chinese EV makers insufficient

Wall Street's main indexes advanced on Friday after a softer-than-expected jobs report revived hopes of the Federal Reserve cutting interest rates this year, while gains in Apple and Amgen also helped.

US job growth slowed more than expected in April and the increase in annual wages fell below 4% for the first time in nearly three years. The unemployment rate came in higher than estimated.

Wall St rallies after soft jobs data allays rate jitters

Prime Minister Datuk Seri Anwar Ibrahim has given the assurance that salary increase for civil servants starting this December, as announced two days ago, can be implemented through strict financial management.

Anwar, who is also Finance Minister, said the projected salary adjustment, estimated to cost over RM10 billion from next year onward, is feasible with disciplined financial oversight.

Civil servants salary hike achievable through prudent financial management — Anwar

Mastering Artificial Intelligence (AI) is crucial to ensure Malaysians themselves determine the cultural and moral values within this technology.

Prime Minister Datuk Seri Anwar Ibrahim said if AI is not mastered, the values and morals embedded in it will be determined by those who control the technology, particularly from Western countries.

Master AI to shape own moral values, cultural impact in technology — PM

Pakatan Harapan (PH) candidate Pang Sock Tao has unveiled a five-pronged manifesto for the Kuala Kubu Baharu (KKB) state by-election.

Themed 'Kekal Kuala Kubu', the manifesto focuses on economic aspects; facilities; environment and recreation; heritage and culture; and the people's well-being.

KKB polls: PH candidate unveils five-point manifesto

Johor Menteri Besar Datuk Onn Hafiz Ghazi hopes more Johoreans living outside Johor will return to the state and contribute ideas to ensure progress and development in the state that they were born in.

According to Onn Hafiz, the state government has initiated efforts to attract Johoreans who have progressed in their professional careers to come back and serve the state in efforts to turn Johor into developed status.

Onn Hafiz hopes Johoreans living elsewhere can come back and contribute ideas to develop the state

MJets Air Sdn Bhd has entered into an aircraft charter agreement with Teleport Everywhere Pte Ltd (Singapore).

MJets Air is the commercial air cargo operator of MMAG Aviation Consortium Sdn Bhd, under the umbrella of MMAG Holdings Bhd, while Teleport, which caters to Teleport Commerce Malaysia Sdn Bhd, is an integrated logistics solutions provider and logistics venture of Capital A Bhd.

MJets Air inks aircraft charter agreement with Teleport Everywhere

KUALA LUMPUR (May 3): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Boustead Heavy Industries Corp Bhd’s (BHIC) planned disposal of its 20.77% stake in Lumut Naval Shipyard Sdn Bhd (Lunas) to the Ministry of F...

BHIC, Berjaya Corp, F&N, Pestech, PetGas, XOX, TT Vision, Uzma, SLP, WTK, Ranhill Utilities and Sarawak Cable

<p>KUALA LUMPUR (May 3): There will be no water supply cut for multiple areas in Selangor, as the&nbsp;Sungai Selangor Water Treatment Plant (WTP) Phase 1 (SSP1) maintenance works originally slated to be carried out from May 14 to 16 have been postponed.</p>


Air Selangor: Phase 1 of river water treatment plant’s maintenance works postponed, no supply cut

<p>Ranhill Utilities Bhd will cooperate with the Malaysian Anti-Corruption Commission (MACC) throughout an investigation involving its employees, it said on Friday.</p>

<p>“We are alarmed and take serious note of the matter. We shall cooperate fully with MACC in its investigation if required,” Ranhill said in a bourse filing.</p>


Ranhill to cooperate with MACC over bribery probe on employees

<p>The US Treasury Department's top sanctions official will travel to Singapore and Malaysia next week, a source familiar with the matter told <i>Reuters</i>, as Washington seeks to combat funding for Iran and its proxy groups as well as evasion of its sanctions on Russia.</p>


Top US Treasury official to travel to Singapore, Malaysia to discuss sanctions

<p>KUALA LUMPUR (May 3): Fresh vegetables wholesaler and distributor Farm Price Holdings Bhd, which is set for listing on the ACE Market of Bursa Malaysia on May 14, said on Friday that its initial public offering (IPO) had been oversubscribed by 91.35 times.</p>


ACE Market-bound Farm Price’s IPO oversubscribed by 91.35 times

<p>GEORGE TOWN (May 3): China Southern Airlines plans to double its weekly flights from Guangzhou, China to Penang, increasing from seven to 14, starting June 20.</p>


China Southern Airlines to double weekly flights to Penang starting June 20

<p>KUALA LUMPUR (May 3): Muar Member of Parliament (MP) Syed Saddiq Syed Abdul Rahman is seeking a judicial review against Prime Minister Datuk Seri Anwar Ibrahim and the government over RM730,300 in allocations for his constituency.</p>


Syed Saddiq seeks judicial review against PM, govt over unpaid allocations

<p>Seventy-eight property owners in Hatten Square, Melaka, have obtained a summary judgement from the High Court there against the main developer, MDSA Development Sdn Bhd, which requires the company to pay them RM2.009 million in rental arrears for a mix of commercial and residential units, and the return of RM591,143.90 as payment for refurbishments that were never done.</p>

<p>Judge Mohd Radzi Abdul Hamid allowed the plaintiffs' application for a summary judgment as he ruled that there was no arguable case.</p>


78 property owners obtain summary judgment against Hatten Square developer over unpaid rents, non-existent refurbishments

<p>Practice Note 17 (PN17) outfit Sarawak Cable Bhd announced that Datuk Seri Fong Joo Chung has stepped down as non-independent non-executive deputy chairman, effective immediately.</p>

<p>Fong, 75, resigned due to personal reasons, prevailing circumstances, and recent developments concerning the company, the cable manufacturer said in its filing.</p>


Fong Joo Chung steps down as Sarawak Cable deputy chairman

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


EVENING 5: Five things you need to know today

<p>Pestech International Bhd has lost an appeal to stop the tampering of machineries used in the Gemas-Johor electrified double track project by main contractor Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd (SPYTL).</p>


Pestech loses another appeal in Gemas-JB double track dispute

<p>XOX Bhd has proposed to undertake a share capital reduction to wipe out RM303 million of the virtual mobile network operator’s accumulated losses.</p>

<p>The company, which had been in the red for five straight years, had racked up losses totalling RM307.48 million by the end of 2023 despite a slew of fundraising exercises.</p>


XOX proposes RM303mil share capital reduction

<p>KUALA LUMPUR (May 3): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:</p>

<p><strong>Boustead Heavy Industries Corp Bhd</strong>’s (BHIC) planned disposal of its 20.77% stake in Lumut Naval Shipyard Sdn Bhd (Lunas) to the Ministry of F...

<p>The Court of Appeal has upheld a High Court's decision to quash the Royal Malaysian Customs Department's bill of demand for Petroliam Nasional Bhd to pay RM14.8 million in goods and services tax (GST) that it alleged the national oil company had underpaid.</p>


Court of Appeal upholds decision to quash Customs Dept’s demand for RM14.8m GST from Petronas

<p>Boustead Heavy Industries Corp Bhd’s (BHIC) planned disposal of its 20.77% stake in Lumut Naval Shipyard Sdn Bhd (Lunas) to the Ministry of Finance (Inc)-owned Ocean Sunshine Bhd has turned unconditional after shareholders of BHIC endorsed the RM1 deal.</p>


BHIC’s stake sale in LCS contractor to MOF turns unconditional

<p>Plastic packaging maker SLP Resources Bhd’s net profit surged 63% in the first quarter from a year earlier bolstered by better product mix and higher output.</p>

<p>Net profit for the three months ended March 31, 2024 (1QFY2024) was RM4.94 million compared with RM3.03 million over the same period last year, SLP said in an exchange filing. Earnings per share came in at 1.56 sen in 1QFY2024, higher than 0.96 sen in 1QFY2023.</p>


SLP Resources net profit soars on better product mix, higher output

<p>Perak Mufti Datuk Seri Wan Zahidi Wan Teh said accusing any party of insulting Islam must be proven before considering a boycott.</p>

<p>He said one of the crucial elements in criminal behaviour is intent or "alqasdul jinaei" (criminal intent).</p>


Allegations of insulting Islam must be proven before boycott — Perak Mufti

<p>The Road Transport Department (RTD) has issued a recall notice for 600 units of Chery's Omoda 5 model vehicles, effective immediately, in response to a widely circulated incident on social media that occurred on April 28.</p>

<p>In a statement, the RTD announced that they have summoned Chery Corporate Malaysia Sdn Bhd to conduct a thorough investigation and gather additional information to ensure the safety of both vehicle owners and road users.</p>


RTD issues immediate recall of 600 Chery Omoda 5 SUVs

<p>The Energy Commission (EC) has raised the tariff to transport gas via Peninsular Malaysia’s gas pipeline, owned and operated by Petronas Gas Bhd (PetGas), to RM1.096 per gigajoule per day (GJ/day) for 2024, versus a base of RM1.063 GJ/day under Regulatory Period 2 (2023-2025).</p>


PetGas gets nod for gas transportation tariff hike; regas sees mixed adjustment

<p>Global fast food giants may have to dole out steeper promotions to lure inflation-hit customers who are increasingly opting to eat at home, following weak sales from the likes of McDonald's and&nbsp;Starbucks&nbsp;this week.</p>


US fast-food chains may have to amp up promotions as more people eat at home

<p>HSBC has no current plans to sell more assets, its chairman Mark Tucker said on Friday at the annual shareholder meeting of the bank, which has scaled back its presence in Western markets in recent years as part of a sweeping overhaul.</p>
