<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 3): Malaysia’s Tapis crude oil rose to its record high of US$105.96 per barrel on Wednesday (March 2) in tandem with surging global crude oil prices.</p></div>

<div class=newsTextDataWrapInner><p>It had risen 1.84% or US$1.91.</p></div>

<div class=newsTextDataWrapInner><p><em>Reuters </em>reported that U.S. crude futures rose US$7.19 to settle at US$110.60 a barrel, its highest close since 2011, while Brent settled up US$7.96 at US$112.93.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Tapis crude oil is used as a pricing benchmark in Singapore.</p></div>

<div class=newsTextDataWrapInner><p>Tapis is very light, with an API gravity of 43°-45°, and very sweet, with only about 0.04% sulphur.</p></div>

<div class=newsTextDataWrapInner><p>While it is not traded on a market like Brent Crude or West Texas Intermediate, it is often used as an oil marker for Asia and Australia.</p></div>

<div class=newsTextDataWrapInner><p>The price of Tapis in Singapore is often considerably higher than the price of benchmark crude oils such as Brent or West Texas Intermediate, the more commonly referenced in market commentaries.</p></div>

<div class=newsTextDataWrapInner><p>This is because its lightness (i.e. higher ° API) allows for greater production of higher-value products, such as petrol, than from Brent or WTI.</p></div>

<div class=newsTextDataWrapInner><p>Its high price is also due to the purity of the blend, while its extremely low sulphur content means it requires less refinery processing than sourer crude oils.</p></div>

<div class="mt-4 embed-left"><a class="mobx embedimg-icon imgw-800" data-desc="" data-rel="ceolightbox" data-title="" href="//assets.theedgemarkets.com/pictures/20220303oil.png"><img alt="" src="//assets.theedgemarkets.com/pictures/20220303oil.png" /></a></div>


KUALA LUMPUR (March 3): Malaysia’s Tapis crude oil rose to its record high of US$105.96 per barrel on Wednesday (March 2) in tandem with surging global crude oil prices.

It had risen 1.84% or US$1.91.

Reuters reported that U.S. crude futures rose US$7.19 to settle at ...

Malaysia’s Tapis crude oil rises to record high of US$105.96

Homegrown information and communications technology (ICT) distributor Vstecs Bhd’s (KL: VSTECS) wholly-owned subsidiary, Vstecs Ku Sdn Bhd, has been picked as Amazon Web Services' (AWS) first distributor in Malaysia.

AWS picks Vstecs as first distributor in Malaysia

(May 8): For sale: Steel skeletons of three towers in downtown Los Angeles, erected by a Chinese developer that spent $1.2 billion before running into financial troubles.

The site, called Oceanwide Plaza, became famous this year when graffiti artists covered the 49-floor-tall struc...

LA’s $1.2 billion Graffiti Towers put on sale after bankruptcy

Malaysian palm oil is expected to trade between RM3,700-RM4,300 per metric tonne from now until June, as tight supplies are seen offsetting weak demand, leading industry analyst Dorab Mistry said on Wednesday.

Malaysian palm oil to trade in RM3,700-RM4,300/mt range until June, says analyst

European stocks rose on Wednesday, boosted by company earnings, while US futures were flat and the dollar climbed as investors assessed the signals on the path for Federal Reserve interest rates.

European stocks rise, dollar climbs as Fed rate path pondered

Two of the world’s biggest property investors are split on the current state of the US commercial real estate cycle.

Blackstone, Starwood split on commercial-property market risks

Malaysia’s largest 100 companies added RM175.33 billion to their market value since the start of the year as optimism for a US Federal Reserve rate cut fuelled a broad rally in sectors ranging from technology to utilities.

Malaysia's top 100 stocks add RM175 bil to market cap; more upside for some

KUALA LUMPUR (May 8): Public Bank Bhd has mobilised more than RM53 billion in sustainable finance since 2020, which covers financing portfolios such as energy efficient vehicles financing, affordable home financing, corporate loans and green financing facilities.

Public Bank mobilised over RM53b in sustainable finance since 2020

The dollar held firm on Wednesday, recouping some of the losses stemming from renewed bets on Federal Reserve rate cuts this year, while the yen weakened for a third day, keeping investors wary of the risk of intervention from Tokyo.

Dollar gains ground; subdued yen prompts Japan warning

Alstom SA shares jumped after the troubled train maker went ahead with a plan for a rights issue that will help shore up its balance sheet.

Alstom soars as train maker’s debt plan reassures investors

Rescuers rushed to evacuate people stranded by devastating floods across the southern Brazilian state of Rio Grande do Sul on Tuesday, with at least 90 dead, thousands left homeless, and desperate survivors seeking food and basic supplies.

Brazil floods leave 150,000 homeless, scores dead or missing

<p>Former prime minister Tan Sri Muhyiddin Yassin has been granted a temporary release of his passport to visit a sick family member in Australia.</p>

<p>Sessions Court judge Azura Alwi allowed the Bersatu chief's application and ordered the travel document to be released on Wednesday and for it to be returned to the court on May 28.</p>


Muhyiddin gets temporary release of passport to visit sick family member abroad

<p>Shares in low-cost aviation operators Capital A Bhd (KL:CAPITALA) and AirAsia X Bhd (KL:AAX) rose in early trade on Wednesday, tracking gains at the broader market.</p>


Capital A and AAX active, advance in post-merger trade

<p>Shares in Sime Darby Plantation Bhd [KL: SIMEPLT] rose to their highest in two years following its announcement to develop the Tali Ayer estate in Perak into a green industrial park.</p>


Sime Darby Plantation shares surge to a two-year high following proposed solar project in Perak

<p>Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore, Asia's main oil hub, to a joint venture between Indonesian chemicals firm Chandra Asri and Swiss miner and commodities trader Glencore.</p>


Shell to sell Singapore refinery, petchem assets to Chandra Asri and Glencore

<p>China has extended the visa-free policy for short-term visits to China for Malaysia and 11 other countries until the end of 2025, <em>Xinhua </em>reported, citing Chinese Foreign Ministry spokesperson Lin Jian.</p>


China extends visa-free travel policy for Malaysia until end of 2025

<p>KUALA LUMPUR (May 8): Petronas Dagangan Bhd (KL:PETDAG) faces a threat from Saudi Aramco’s possible entry into Malaysia’s fuel retailing market, on top of the impending withdrawal of fuel subsidies, CGS International warned.</p>


Petronas Dagangan faces twin share de-rating threats — CGS

<p>The US has revoked licences that allowed companies including Intel and Qualcomm to ship chips used for laptops and handsets to sanctioned Chinese telecoms equipment maker Huawei Technologies, three people familiar with the matter said.</p>


US revokes Intel, Qualcomm's export licences to sell to China's Huawei — Reuters

<p>Global sales of semiconductors jumped 15.2% year-on-year (y-o-y) to US$137.7 billion (RM653.24 billion) during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).</p>


First-quarter global semicon sales jump 15.2% y-o-y to US$137.7b, says SIA 

<p>Insurer and reinsurer MNRB Holdings Bhd’s (KL:MNRB) net profit more than doubled year-on-year (y-o-y) in the fourth quarter, thanks to lower insurance expenses and higher investment income, sending its shares surging to a new record high.</p>


MNRB's net profit more than doubles in 4Q, shares hit new record high

<p>United Overseas Bank (M) Bhd (UOB Malaysia) has launched a programme to assist businesses in understanding and preparing for the European Union's (EU) carbon border adjustment mechanism (CBAM), a carbon border tax that is set to take effect in 2026 and affect some 75% of Malaysian exports to the region.</p>


UOB Malaysia introduces masterclass to prepare businesses for EU’s carbon border tax

<p>Interim liquidators appointed by the Shah Alam High Court pursuant to a petition by Hitachi Ltd to look into the affairs of its wholly-owned Fusiotech Holdings Sdn Bhd are investigating claims of potential diversion of business by Fusionex Malaysia to third parties.</p>


Fusionex liquidators probing alleged diversion of business to third parties

<p>Shares of CTOS Digital Bhd (KL:CTOS) rose to their highest in nearly two months as analysts flagged a pickup in earnings ahead, following the seasonally weaker first-quarter results.</p>


CTOS rises to near two-month high; analysts see stronger quarters ahead

<p>Former National and Johor Darul Ta’zim (JDT) skipper Safiq Rahim became the third National footballer to be attacked within a week, although the JDT player’s attack seemed more of a warning than personal harm.</p>


Two suspects on motorcycles break Safiq Rahim's car windscreen in third attack on footballers 

<p>A Singapore Air Force F-16 jet crashed during takeoff at a military airbase, the Ministry of Defence said on Wednesday.</p>


Singapore Air Force F-16 fighter jet crashes after takeoff

<p>KUALA LUMPUR (May 8): Shares of Bursa Malaysia Bhd (KL:BURSA) extended their gain on Wednesday, after MIDF said it foresees a good prospect for trading activities on Bursa Malaysia Securities Bhd&nbsp;this year, as Malaysian stocks hit a historical high of RM2 trillion in market capitalisation on Tuesday (May 7).</p>


Bursa Malaysia shares rise as MIDF sees better prospects on local trading

<p>The FBM KLCI was little changed in early trade on Wednesday although it held firm above the 1,600-point level.</p>


KLCI little changed in early trade, hovers above 1,600 resistance level

<p>Communications Minister Fahmi Fadzil said the government is prepared to engage with the US counterparts to understand the details regarding possible sanctions against Malaysian companies.</p>


Govt prepares to engage with US counterparts over possible sanctions — Fahmi

<p>Hospital operator IHH Healthcare Bhd (KL: IHH) on Wednesday said it has invested in Belun Technology Company Ltd that makes devices tackling sleep apnea and other sleep disorders.</p>


IHH Healthcare invests in Belun Technology for devices to tackle sleep disorders

<p>KUALA LUMPUR (May 8): Go Hub Capital Bhd (KL:GOHUB), a provider of information technology (IT) services catering to the transportation sector, said on Wednesday that it has received approval for its listing on the ACE Market of Bursa Malaysia.&nbsp;</p>


IT services firm Go Hub Capital gets Bursa Malaysia nod for ACE Market listing

<p>The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence (AI) technology said the country would divest from China if it were asked to do so by the US.</p>
