<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on August 2, 2018</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Prasarana Malaysia Bhd plans to allocate RM90 million to upgrade Penang’s ferry service facility and to buy new ferries, according to Transport Minister Anthony Loke.</p></div>

<div class=newsTextDataWrapInner><p>Prasarana, via its subsidiary Rapid Ferry Sdn Bhd, took over the operations of ferry services in Penang from Penang Port Sdn Bhd on May 1, 2018.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>From the planned allocation, RM21 million will be used to buy new passenger-only ferries for this year and next, said Loke in his winding-up speech in Parliament here yesterday.</p></div>

<div class=newsTextDataWrapInner><p>Prasarana will also be undertaking repair works for six existing ferries for a three-year period begining this year, estimated to cost as much as RM13.7 million, he added.</p></div>


KUALA LUMPUR: Prasarana Malaysia Bhd plans to allocate RM90 million to upgrade Penang’s ferry service facility and to buy new ferries, according to Transport Minister Anthony Loke.

Prasarana, via its subsidiary Rapid Ferry Sdn Bhd, took over the operations of ferry services in Penang fr...

Prasarana to set aside RM90m for new ferries,  ferry upgrades

Bank of England (BOE) chief economist Huw Pill said he is erring on the side of caution in deciding when to cut UK interest rates, saying officials need to remain on guard for risks that inflation persists.

BOE chief economist says he’s cautious on interest rate cuts

China launched its harshest attack to date on US complaints about industrial overcapacity, signalling that Secretary of State Antony Blinken may be in for some difficult conversations during his visit this week.

The US accusation contains “the malicious intention of curbing and suppressing China’s industrial development, aiming to seek a more favourable competitive position and market advantage”, a Chinese diplomat said at a recent briefing, according to a Foreign Ministry statement released on Tuesday.

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According to CGS Malaysia’s deputy CEO Alan Inn Wei Loon there are plans in the pipeline to grow its PE and venture capital business.

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CGS Malaysia’s chief executive officer Azizah Mohd Yatim says the group has diversified away from solely relying on brokerage income.

NEWS: CGS no longer just a traditional stockbroking house

The FTSE Bursa Malaysia KLCI’s (FBM KLCI) rise to its highest level this year at 1,567.57 points under the administration of the unity government, led by the Prime Minister Datuk Seri Anwar Ibrahim, confirms that the Malaysian economy will continue to strengthen.

Rafizi sees Malaysian economy strengthening alongside Bursa

(April 23): Philip Morris International on Tuesday surpassed market expectations for first-quarter profit and revenue, helped by robust demand for its heated tobacco product and Zyn nicotine pouches.

The Marlboro maker's flagship heated tobacco device IQOS, expected to launch in the Uni...

Philip Morris results beat estimates on demand for heated tobacco sticks

Comfort Gloves Bhd said there was a fire at the glove maker’s newly-built three storey warehouse and packing department in Taiping, Perak on Tuesday morning.

“The cause of the fire and the actual extent of the damage are currently still unknown, pending the completion of police investigations into the fire and issuance of their report,” the group said in a bourse filing.

Comfort Gloves reports fire at new Taiping warehouse

KomarkCorp Bhd, which lost its defamation suit against The Edge Communications Sdn Bhd in the High Court last month, is appealing against the court's decision, which found that the media company had not defamed it in an article about the manipulation of penny stocks that was published nearly three years ago.

KomarkCorp appeals against High Court's ruling that The Edge did not defame company

KUALA LUMPUR (April 23): The Iskandar Regional Development Authority’s (IRDA) target to achieve cumulative investments of RM636 billion by 2030 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness.

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Spotify's quarterly gross profit topped €1 billion (RM5.3 billion) for the first time after it reined in marketing spending, although that meant the music streaming giant missed its forecast for monthly active users.

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<p>The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.</p>




Najib's 1MDB-Tanore trial live reporting (April 23)

<p>Ten members of the Royal Malaysian Navy (RMN) were confirmed dead in an incident where two helicopters collided and crashed at the Royal Malaysian Navy (RMN) base in Lumut, Perak on Tuesday morning.</p>


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<p>Healthcare stocks still have legs to run following a recent rally and investors should continue to buy hospital operators for their further earnings growth this year, analysts said.</p>


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<p>Shares of Topmix Bhd surged 32% in its trading debut on Tuesday after the surface decorative products company’s initial public offering (IPO) on the ACE Market raised RM31.7 million.</p>


Topmix surges 32% on ACE Market debut

<p>Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.</p>


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<p>Indonesian President Joko Widodo and his son, incoming vice-president Gibran Rakabuming Raka, are no longer members of the country's largest party after they backed rival candidate and election winner Prabowo Subianto, a party official said on Tuesday.</p>


Indonesia's biggest party confirms President Jokowi no longer a member after backing Prabowo

<p>Malaysia’s construction tender prices are&nbsp;expected to grow by 3% in 2024, compared to the previous year, driven by various factors such as project type, industry procurement strategy and currency fluctuations, according to a report by global professional services company Turner &amp; Townsend.</p>


Malaysia’s construction tender prices to grow by 3% in 2024, says Turner & Townsend

<p>ATX Semiconductor Group, a globally renowned semiconductor provider from China, intends to ramp up investment to US$200 million (RM952 million) for its new manufacturing plant in Melaka over the next five years for its second-phase business expansion.</p>


ATX Semiconductor to boost investment in Melaka to RM952m

<p>Swatch Group (M) Sdn Bhd&nbsp;said the seizure of its 172 rainbow-themed watches had caused much grief to its international reputation, as the renowned Swiss watch maker had always been dutiful citizens of any state where the watches were sold.</p>


Swatch says advocating compassion for LGBTQ is not a crime, seizure illegal

<p>Moomoo Malaysia, an online trading platform, garnered 100,000 clients within six weeks of its launch, making it one of the most downloaded financial mobile applications in Malaysia.&nbsp;</p>


Moomoo Malaysia surpassed 100,000 clients within six weeks of its debut in Malaysia

<p>Former Umno Supreme Council member Hizatul Isham Abdul Jalil or better known as Isham Jalil has offered to make an unreserved apology to bring an end to his contempt of court proceedings.</p>


Ex-Umno leader ready to apologise in contempt of court case

<p>KUALA LUMPUR (April 23): Malaysia has emerged as the most significant country within Asean for businesses to venture into, as shown by the UOB Business Outlook Study 2024 (SMEs &amp; Large Enterprises).</p>


Malaysia emerges as prime destination for Asean biz expansion — UOB study

<p>CONSTRUCTION firm GDB Holdings Bhd — which has been embroiled in disputes with KSK Group in the last two years over the development of the 8 Conlay project in Kuala Lumpur — appears to be back on investors’ radar, judging by the recent upward trend in its share price.</p>

<p>According to marke...

GDB Holdings a front runner for several jobs

<p>Cypark Resources Bhd said on Tuesday that its 100MW Large Scale Solar 3 (LSS3) hybrid solar plant project in Merchang, Terengganu, will transition to full commercial operations by next month.</p>

<p>In a statement, the group said the plant consists of 83MWac (megawatt, alternating current) ground-mounted solar photovoltaics and 32MWac floating solar photovoltaics.</p>


Cypark's LSS3 solar plant in Terengganu set for commercial operations next month

<h3><strong><span style="color:#d35400;">MyEG Services Bhd</span></strong></h3>

<p>Target price: <strong>RM1.15 <span style="color:#27ae60;">ADD</span></strong></p>

<div class="mt-3 imgw-300 embed-right"><a class="mobx embedimg-icon" data-desc="xxx" data-rel="ceolightbox" href="//myassets.thee...

Brokers Digest: Local Equities: MyEG Services Bhd, Mah Sing Group Bhd, Tan Chong Motor Holdings Bhd, Gamuda Bhd 

<p>Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is still in the pre-qualification stage for the acquisition of national carrier SriLankan Airlines.&nbsp;</p>

<p>However, AirAsia Consulting has yet to submit any price bid since due diligence has not been carried out, its chief executive officer Subashini Silvadas told <em>The Edge</em> on Tuesday.</p>


Capital A’s unit in RFQ process for SriLankan Airlines, no price bid yet

<p>PETALING JAYA (April 23): Tropicana Corp Bhd is partnering with Maybank Islamic Bhd to provide a home financing solution called Maybank Islamic’s HouzKEY.&nbsp;</p>


Tropicana partners Maybank Islamic to offer HouzKEY home financing solution

<p>Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence (AI) chips through resellers, despite the US widening a ban last year on the sale of such technology to China.</p>


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<p>Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday, thanks to buying from local and foreign institutions, said an analyst.&nbsp;</p>


Bursa ends higher on buying support from local and foreign institutions

<p>High crude oil prices&nbsp;caused by&nbsp;tension in the Middle East&nbsp;will help to boost Malaysia's oil and gas exports. However, escalated fuel&nbsp;prices will dampen the country’s economic growth, according to the Socio-Economic Research Centre (SERC).</p>
