<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 29): RHB Investment Bank Bhd (RHB IB) has purchased 1 million shares in Sunway Construction Group Bhd (SunCon) in a share price stabilisation effort.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, RHB IB said the shares were purchased for a total RM1.2 million at RM1.20 per share.</p></div>

<div class=newsTextDataWrapInner><p>Barely two days from the company’s debut on Bursa Malaysia, SunCon’s share price fell below its initial public offering price of RM1.20 today despite earlier stabilising efforts by RHB IB.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>At 5pm market close today, the stock closed at RM1.18, down two sen or 1.67% on poor market sentiment and profit taking. It had earlier fallen to a low of RM1.16 before paring losses.</p></div>

<div class=newsTextDataWrapInner><p>On its maiden trading day, the stock had risen to its intraday high of RM1.32, prompting investors to take profit.</p></div>

<div class=newsTextDataWrapInner><p>In view with this, stabilising manager RHB IB had bought 4.14 million shares at RM1.20 each in SunCon yesterday.</p></div>

<div class=newsTextDataWrapInner><p>Today, SunCon was the ninth most-actively traded stock on Bursa Malaysia, registering a trading volume of 19.72 million.</p></div>

<div class=newsTextDataWrapInner><p>At its closing price of RM1.18 today, the construction company has a market capitalisation of RM1.53 billion.</p></div>

<div class=newsTextDataWrapInner><p>The decline in SunCon’s share price has wiped out about RM12.6 million of its market capitalisation.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (July 29): RHB Investment Bank Bhd (RHB IB) has purchased 1 million shares in Sunway Construction Group Bhd (SunCon) in a share price stabilisation effort.

In a filing with Bursa Malaysia today, RHB IB said the shares were purchased for a total RM1.2 million at RM1.20 per s...

RHB IB buys 1 mil SunCon shares as stabilisation effort continues

Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.

DXN climbs over one-month high, analysts see positive outlook

While the opening of The Exchange TRX is anticipated to intensify competition in the malls sector, Pavilion Real Estate Investment Trust (PavREIT) said footfalls at its malls nearby — Pavillion KL and the connected Pavilion Elite — remain unaffected, and they are still enjoying over 95% occupancy rates.

PavREIT says Pavilion KL, Elite's footfalls unaffected by opening of TRX mall

Shares of construction and engineering contractor Crest Builder Holdings Bhd climbed on Wednesday after bagging a RM486 million condominium project in Mont Kiara.

Crest Builder rises 6% after bagging RM486m condominium project

BMI, a Fitch Solutions company, holds a cautious but positive outlook for consumer spending in Malaysia over 2024, as the economic recovery feeds through to strong real consumer spending growth over the full year.

BMI holds a cautious but positive outlook for consumer spending in Malaysia over 2024

US defence contractor L3Harris Technologies Inc will cut 5% of its workforce this year as part of a cost saving measure, CEO Chris Kubasik said in an email to employees seen by Reuters on Tuesday.

US defence contractor L3Harris to cut 5% of workforce to save costs, email shows

The ringgit rebounded in early trade on Wednesday as the US dollar retreated after S&P Purchasing Managers' Index (PMI) data disappoint.

Ringgit rebounds on softer US dollar after PMI data

(April 24): JPMorgan Chase CEO Jamie Dimon said the U.S. economy was booming and consumer spending continued to be resilient.

The U.S. economic boom is "unbelievable," Dimon told the Economic Club of New York on Tuesday. "Even if we go into recession, the consumer's still in good shape,...

JPMorgan CEO Dimon says US economy is booming

Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.

Bursa opens higher, tracking overnight Wall Street

Walmart’s majority-owned fintech startup One has started offering buy now, pay later (BNPL) loans for big-ticket items like electronics and power tools at some of the retailer's US stores, a source said on Tuesday.

Walmart-backed fintech One launches 'buy now, pay later' services, source says

With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?

What’s next for 5G deployment in Malaysia?

<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 24)

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

<p>The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.</p>


Critical point failure could’ve led to fatal Lumut chopper crash, says expert

<p>US stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.</p>


Wall Street closes higher as investors digest earnings, megacap outlook

<p>Tesla Inc is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.</p>


Tesla to accelerate launch of cheaper cars after sales miss

<p>With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?</p>


<p>Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.</p>


NationGate may extend upward trajectory, says Rakuten Trade 

<p>Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.</p>


Stocks gear up for Big Tech earnings; yen touches multi-year lows

<p>Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.</p>


<p>Mergers and acquisitions (M&amp;A) activities fell to the lowest in a decade in 2023. According to the “Global M&amp;A Report” published by Bain &amp; Co, the total M&amp;A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.</p>


M&A activities hit a low in 2023, pickup expected this year

<p>The ringgit rebounded in early trade on Wednesday as the US dollar retreated after S&amp;P Purchasing Managers' Index (PMI) data disappoint.</p>


<p>RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.</p>


Censof observing technical breakout, says RHB Retail Research 

<p>Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.</p>


Meta Bright lands solar supply deal after forming JV company with Doople

<p>Digital payments company Block Inc, formerly known as Square, has finished the development of its Bitcoin mining chip as chief executive Jack Dorsey continues to advocate for a more accessible and decentralised system — an effort he’s championed since 2021.</p>


Jack Dorsey’s block finishes development of Bitcoin mining chip

<p>RHB Retail Research said YBS International Bhd is set to resume its uptrend after climbing above the 80.5 sen immediate resistance, surpassing the 21-day simple moving average line.</p>


YBS International set to resume uptrend, says RHB Retail Research 

<p>International Business Machines Corp (IBM) is in advanced talks to acquire software company HashiCorp Inc, according to people with knowledge of the matter.</p>


IBM is in advanced talks to acquire software provider HashiCorp

<p>KOTA BHARU (April 23): The man involved in&nbsp;the shooting incident at the Kuala Lumpur International Airport (KLIA) in Sepang on April 14 will be charged in a&nbsp;Kota Bharu court on Wednesday (April 24), according to the police.</p>


KLIA shooting suspect to be charged in Kota Bharu on Wednesday

<p>This was supposed to be the year that Vietnam reaped the benefits from one of its largest natural gas discoveries.</p>


Xi’s armada is winning the battle for energy in South China Sea

<p>Goldman Sachs Group Inc shares rose to a record on Tuesday, eclipsing their previous closing high set more than two years ago.</p>


Goldman Sachs shares rise to notch first record high since 2021

<p>Tesla&nbsp;said it will lay off 6,020 employees in Texas and California ahead of its quarterly results on Tuesday when CEO Elon Musk is expected to outline the electric-vehicle (EV) maker's strategy to combat slowing demand and falling margins.</p>
