<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 11): The ringgit was seen to be continuing its decline against the US dollar as controversial state investment fund 1Malaysia Development Bhd (1MDB)’s deadline for the payment of interest on its bond issuance approaches, while oil prices retreated.</p></div>

<div class=newsTextDataWrapInner><p>At 12.50pm, the ringgit continued to trade near seven-week lows, weakening 0.18% to trade at 4.0540 against the greenback, compared to its closing of 4.0468 yesterday (May 10), according to <em>Bloomberg</em> data.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, crude oil prices were also down, with WTI crude futures down 0.47% at US$44.45 per barrel, while Brent crude fell 0.42% to US$45.33 per barrel.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On the other hand, the benchmark KLCI index gained 3.58 points or 0.22% to 1,639.42, as at noon market break today.</p></div>

<div class=newsTextDataWrapInner><p>1MDB is due to pay the interest on its US$1.75 billion bond issued by its unit, 1MDB Energy Ltd, today. The payment due for the 5.99% coupon issuance totals US$52.4 million.</p></div>

<div class=newsTextDataWrapInner><p>There has been some speculation that 1MDB could potentially default on the payment, following its dispute with Abu Dhabi’s International Petroleum Investment Company (IPIC), the party backing US$3.5 billion of 1MDB’s issuances.</p></div>

<div class=newsTextDataWrapInner><p>Last month, the dispute caused the fund to default on another interest payment, due to IPIC’s non-payment of the interest due on April 18.</p></div>


KUALA LUMPUR (May 11): The ringgit was seen to be continuing its decline against the US dollar as controversial state investment fund 1Malaysia Development Bhd (1MDB)’s deadline for the payment of interest on its bond issuance approaches, while oil prices retreated.

At 12.50pm, the ring...

Ringgit continues descent as 1MDB’s payment deadline approaches

Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.

Axiata, Sinar Mas move closer to US$3.5b telco merger, Bloomberg reports

(April 25): When it comes to Chinese real estate, John Lam is a lone wolf.

The UBS analyst shocked markets three years ago with a rare sell rating on China Evergrande Group, 11 months before it defaulted and became the poster child for the property collapse. Now Lam is going agains...

UBS analyst who took on Evergrande now bullish on China property

JOHOR BAHRU (April 25): The Johor branch of the Malaysian Quarantine and Inspection Services Department (Maqis) found parasitic worms Anisakis sp in samples of sardine cans from China that were brought in through the Sultan Iskandar Building (BSI) here, earlier this month.

Parasitic worms Anisakis sp found in canned sardines from China — Johor dept

Barclays reported a 12% fall in first quarter profit on Thursday, as a squeeze on UK mortgage pricing, lower income from trading and a drought of M&A fees showed the difficulties it will face in delivering its first strategic revamp in a decade.

Barclays 1Q profit falls 12% as mortgage competition, trading slump hit

SINGAPORE/TOKYO (April 25): Oil prices steadied on Thursday after settling lower in the previous day, as signs of retreating fuel demand in the US, the world's biggest oil user, contended with widening conflict risks in the key Middle East producing region.

Oil steady as market weighs US demand concerns, Middle East conflict risks

Sports retailer Al-Ikhsan Sports Sdn Bhd, in which state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) owns a 35% stake, has appointed Datuk Hishammudin Hasan as its new chief executive officer effective April 17.

Ekuinas-backed Al-Ikhsan Sports names former 7-Eleven head as CEO

KANGAR (April 25): The remand order for the son of a menteri besar has been extended until Friday (April 26) to facilitate investigations into a case of producing falsified documents to make RM600,000 in claims since 2022.

Remand for five including MB’s son extended till Friday 

Recovering risk appetite and tightening spreads in the commercial real estate market mean active managers have to work a little harder, according to DoubleLine Capital LP.

Fears of ravaged commercial real estate market have eased, DoubleLine says

JRG Minerals Sdn Bhd is collaborating with Shandong Huaxin Industry Co Ltd for a development project in Kuantan, Pahang, with an estimated value of RM15 billion.

JRG Minerals teams up with Shandong Huaxin for RM15b development project in Pahang

The Malaysian Anti-Corruption Commission (MACC) has never stopped investigation into the construction of the littoral combat ships (LCS), said its chief commissioner Tan Sri Azam Baki.

LCS probe never stopped, MACC chief clarifies

<p>KUALA LUMPUR (April 25): The Employees Provident Fund (EPF) members, who are below 55 years old, will have an Account 3, in addition to the existing two accounts for their retirement savings, starting May 11.&nbsp;</p>


EPF members under age 55 will have Account 3 starting May 11

<p>Malaysia is in early discussions with tycoons on opening a casino in Forest City, people familiar with the matter said, in a bid to revive the beleaguered US$100 billion (RM478.35 billion) property project that counts the country’s monarch as one of its shareholders.</p>


Malaysia is said to mull casino resort to revive Forest City

<p>Binance co-founder Changpeng Zhao is facing up to three years in prison if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.</p>


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<p>Digital Nasional Bhd (DNB), the state-owned company in charge of the 5G network infrastructure rollout, on Thursday named five new board members, comprising senior leaders from the telecom and technology industries.</p>


Digital Nasional names senior telco and tech leaders as new directors

<p>Shares of YTL Corp Bhd rallied to a new all-time high on Thursday after Hong Leong Investment Bank (HLIB) flagged more upside even after a 42% year-to-date surge.</p>


YTL Corp rallies to new all-time high after HLIB flags more upside

<p>A made-in-China electric vehicle (EV) will hit US dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about US$8,000 (RM38,228) less.</p>


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<p>A disappointing earnings report from Meta Platforms Inc has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.</p>


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<p>Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.</p>


<p>KUALA LUMPUR (April 25): Mega First Corp Bhd shares have likely peaked following a recent rally to new all-time highs, and investors should stop buying the stock now, Maybank Investment Bank (Maybank IB) said and downgraded the stock to ‘hold’.</p>

<p>Maybank IB is the first from a total of fi...

Mega First shares likely peaked; Maybank IB the first to downgrade stock

<p>Housing and Local Government Minister Nga Kor Ming’s press secretary Pang Sock Tao was announced as the unity government’s candidate for the Kuala Kubu Baharu by-election on May 11.</p>


Nga's press secretary Pang picked as unity govt's candidate for Kuala Kubu Baharu by-election

<p>KUALA LUMPUR (April 25): Agricore CS Holdings Bhd, a food ingredients supplier, has obtained approval from Bursa Malaysia Securities Bhd to list on its ACE Market.</p>


Agricore CS Holdings gets Bursa Malaysia nod to list on ACE Market

<p>Malaysia’s consumer inflation came in lower than expected in March from a year earlier as prices of healthcare and food rose at a slower pace, official data on Thursday showed.</p>

<p>The Consumer Price Index — Malaysia’s main gauge of inflation — rose 1.8% year-on-year, according to the Department of Statistics. The headline figure was a tad lower than the median 2% rise predicted in a Bloomberg survey of economists, and unchanged versus February’s 1.8% gain.</p>


Malaysia’s inflation steady at 1.8% in March

<p>RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.</p>


Naim Holdings likely to resume its uptrend, says RHB Retail Research 

<p>RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.</p>


NationGate is observing technical breakout, says RHB Retail Research 

<p>Asian stocks fell on Thursday as disappointing earnings forecasts from Facebook parent Meta Platforms hammered tech shares, while the yen's slump past 155 per dollar for the first time since 1990 raised the spectre of intervention from Tokyo.</p>


Stocks hit by tech slide; yen flails at intervention zone

<p>Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.</p>


Singapore's Keppel profit rises on strong infra, connectivity performance

<p>The Court of Appeal has allowed a bid by Tan Sri Muhyiddin Yassin to have a bench of five judges to hear his review application to restore his acquittal by the High Court of four of his abuse of power charges last year.</p>

<p>His lawyer Chetan Jethwani said that Court of Appeal deputy registrar Muhammad Noor Firdaus Rosli informed the parties of the matter on Thursday morning during case management.</p>


Appellate court grants Muhyiddin five-member bench for review of charges

<p>Benchmark S&amp;P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.</p>


S&P 500 ends higher as markets weigh rising yields, upbeat corporate results

<p>Visa Inc recently reported impressive fiscal second quarter 2024 results, with net revenue increasing by 10% and payments volume growing by 8%.</p>


Visa's strong earnings may be a troubling sign for US economy — report

<p>KUALA LUMPUR (April 25): Malaysia requires an annual allocation of at least RM10 billion for the next three years, which is crucial to boost water infrastructure amid below-cost tariffs and high wastage, the National Water Services Commission (SPAN) said on Thursday.</p>
