<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 5): Petroliam Nasional Bhd (Petronas) said today it has no intention of acquiring any stake in India's Bina oil refinery although India is an important market for the Malaysian national oil company.</p></div>

<div class=newsTextDataWrapInner><p>"Petronas refers to the report by <em>Reuters </em>published on July 29, 2019 titled "Petronas, Japan's JXTG may buy stake in India's Bina oil refinery."</p></div>

<div class=newsTextDataWrapInner><p>"While India remains a key market for Petronas, we have no intention of acquiring any stake in the said refinery," Petronas said in a statement today.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On July 29, <em>Reuters</em>, quoting a source close to the matter, reported that Petronas and a consortium led by Japan's JXTG Holdings Inc are among the companies interested in buying a stake in India's Bina oil refinery.</p></div>

<div class=newsTextDataWrapInner><p>It was reported that the Bina plant in central India, capable of processing 156,000 barrels per day of crude oil, is operated by Bharat Oman Refineries Ltd, a 50-50 joint venture between Oman Oil Co and state-run Bharat Petroleum Corp (BPCL).</p></div>

<div class=newsTextDataWrapInner><p>"There are a new set of companies who have approached BPCL for a stake in its Bina refinery," the source was quoted as saying.</p></div>

<div class=newsTextDataWrapInner><p><em>See also: <a href="https://www.theedgemarkets.com/article/petronas-japans-jxtg-may-buy-stake-indias-bina-oil-refinery-%E2%80%94-source" target="_blank">Petronas, Japan's JXTG may buy stake in India's Bina oil refinery — source</a></em></p></div>


Petroliam Nasional Bhd (Petronas) said today it has no intention of acquiring any stake in India's Bina oil refinery although India is an important market for the Malaysian national oil company.

"Petronas refers to the report by Reuters published on July 29, 2019 titled "Petronas, Japan's JXTG may buy stake in India's Bina oil refinery."

Petronas says no intention of buying India's Bina oil refinery stake

Nestle (Malaysia) Bhd is slated to raise prices for 22 of its products starting July 1, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).

Nestle Malaysia to adjust prices of 22 products starting July 1

MOSCOW (April 25): Russia is considering downgrading the level of its diplomatic relations with the United States if Western governments go ahead with proposals to confiscate its frozen assets, state news agency RIA quoted Deputy Foreign Minister Sergei Ryabkov as saying on Thursday.

...

Russia says it may downgrade ties with US if its assets are confiscated

Unisem (M) Bhd kicked off the financial year with its first-quarter earnings down 14% compared to the year prior, dragged by a lower gross profit margin, foreign exchange losses, and lower income from scrap sales.

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NEW YORK (April 26): As U.S. inflation worries grow, some investors are preparing for the 10-year U.S. Treasury yield to breach a 16-year high of 5% hit last October.

Bond yields, which move inversely to prices, have climbed in recent weeks as signs of persistent inflation erode ex...

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KUALA LUMPUR (April 26): Software company Microlink Solutions Bhd said on Friday that it has secured a contract worth RM56.45 million to implement and maintain a new core banking system for Bank Islam Brunei Darussalam Bhd.

Microlink gets RM56.45 mil contract from Bank Islam Brunei

US Secretary of State Antony Blinken will meet with President Xi Jinping in Beijing, as the world’s biggest economies spar on trade complaints and China’s continued support for Russia.

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Analysts believe Capital A Bhd's proposed restructuring plan will help the group exit the Practice Note 17 (PN17) status and enhance its competitiveness, as well as provide benefits to AirAsia X Bhd's (AAX) shareholders in terms of free warrants and improved company valuation post restructuring.

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Malayan Banking Bhd (Maybank) has obtained a summary judgement at the High Court here against ACE Credit (M) Sdn Bhd, ACE Corporation (M) Sdn Bhd, and the company directors Datuk Choong Chee Meng and Chang Ai Nee, for defaulting on a RM46.47 million loan given to them by the bank.

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Huawei Technologies Co’s latest smartphones carry a version of the advanced made-in-China processor it revealed last year, independent analysis revealed, underscoring the Chinese company’s ability to sustain production of the controversial chip.

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The country’s fifth-generation (5G) network adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.

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<p>The Inland Revenue Board (IRB) has extended the deadline for non-business taxpayers to submit their tax return form for the year of assessment 2023 via e-Filing from April 30 to May 15.</p>


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<p>Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.</p>


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<p>Maxis Bhd could work with another consortium partner to lower the cost of deploying the second 5G network, even after the recapitalisation of Digital Nasional Bhd (DNB), said RHB Research in a note on Friday.</p>


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<p>Analysts believe Capital A Bhd's proposed restructuring plan will help the group exit the Practice Note 17 (PN17) status and enhance its competitiveness, as well as provide benefits to AirAsia X Bhd's (AAX) shareholders in terms of free warrants and improved company valuation post restructuring.</p>


<p>Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.</p>


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


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<p>Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.</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>


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<p>The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.</p>


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<p>Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.</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>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>


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<p>The country’s&nbsp;fifth-generation (5G) network&nbsp;adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.</p>


<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>


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

<p>The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that car buyers in other markets have never seen.</p>

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<p>The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.</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>Anyone called in by the Malaysian Anti-Corruption Commission (MACC), either as a witness or subject of investigation, is given ample opportunity to provide additional, detailed information as they please, and this includes imprisoned former prime minister Datuk Seri Najib Razak.</p>


MACC officer says Najib given ample opportunity to elaborate while statements were recorded

<p>European and American investors showed converse interest in sustainable funds during the first quarter, research firm Morningstar said on Thursday, with a record US$8.8 billion (RM42.03 billion) in net withdrawals from the products in the US.</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>
