<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 15): Scomi Group Bhd has secured an extension until May 29 to respond to Malayan Banking Bhd (Maybank) regarding the bank’s demand for RM201.91 million and RM113.96 million from the group.</p></div>

<div class=newsTextDataWrapInner><p>“Maybank had, via its letter dated May 15, 2019, granted the group a further extension of time until May 29, 2019,” Scomi said in a stock exchange filing today.</p></div>

<div class=newsTextDataWrapInner><p>This is the sixth extension the group has got since Maybank first issued a notice of demand to Scomi Rail Bhd (SRB), Scomi's wholly-owned unit, for RM201.91 million in February after the company defaulted on payment for a loan granted.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On the same day, the bank demanded RM113.96 million from Scomi due to SRB’s failure to pay the default, though Scomi argued there was no default since it had obtained more time from Maybank — until March 8 at the time — to revert to Maybank on the matter.</p></div>

<div class=newsTextDataWrapInner><p>Last week, Maybank put SRB under receivership.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Scomi closed 0.5 sen or 5.26% at 10 sen today, giving the group a market capitalisation of RM96.02&nbsp;million.</p></div>


Scomi Group Bhd has secured an extension until May 29 to respond to Malayan Banking Bhd (Maybank) regarding the bank’s demand for RM201.91 million and RM113.96 million from the group.

“Maybank had, via its letter dated May 15, 2019, granted the group a further extension of time until May 29, 2019,” Scomi said in a stock exchange filing today

Maybank grants extension to Scomi for the sixth time over unit's default

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.

Intel forecast misses estimates; shares tumble

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.

Microsoft results top Wall Street targets, driven by AI investment

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.

Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

HLIB is positive on how AME REIT ended the year.

MORNING CALL: 26/4/24

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

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

VS Industry poised to continue bullish trajectory, says RHB Retail Research 

<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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EVENING 5: Five things you need to know today

<p>Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.</p>


Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

<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>


TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

<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>


Harvey Weinstein's rape conviction overturned by top New York court

<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>


US growth may get revised up, inflation will ebb

<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>


EUPE Corp net profit surges 28.9% in 4Q, driven by strong property sales

<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>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>


PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

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


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


YTL Corp eyeing to extend upside movement, says RHB Retail Research 

<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>


Infoline Tec seeks transfer from ACE Market to Main Market

<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>


<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>


Tesla fires back at investor who doesn’t want pay fight in Texas

<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>


Trump advisers discuss penalties for nations that move away from the dollar

<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>


Google parent Alphabet announces first-ever dividend, shares soar

<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>


Arsenal face derby test with title up for grabs

<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>


Equities fall amid earnings gloom, as persistent inflation lifts Treasury yields

<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>
