<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 9): Solarvest Holdings Bhd has agreed to provide financial assistance to its wholly-owned subsidiary Solarvest Energy Sdn Bhd (SESB) through the provision of corporate guarantee amounting to RM25 million.</p></div>

<div class=newsTextDataWrapInner><p>In a filing to Bursa Malaysia today, it said this was to facilitate the issuance of security deposit, tender and performance bonds and other guarantee requirements related to the business operations of the group as well as its subsidiary companies.</p></div>

<div class=newsTextDataWrapInner><p>“The provision of financial assistance to SESB is necessary and essential to SESB in facilitating its business operations within its ordinary course of business for the provision of engineering, procurement, construction and commissioning services for solar photovoltaic systems,” it said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Moreover, the financial assistance also is not expected to have any material effect on the net assets, gearing, earnings, earnings per share, share capital and substantial shareholders’ shareholdings of Solarvest for the financial year ending March 31, 2021, according to the group.</p></div>

<div class=newsTextDataWrapInner><p>At noon break, Solarvest shares were unchanged at RM1.36, valuing the group at RM531.25 million. It saw some 1.98 million shares traded.</p></div>


Solarvest Holdings Bhd has agreed to provide financial assistance to its wholly-owned subsidiary Solarvest Energy Sdn Bhd (SESB) through the provision of corporate guarantee amounting to RM25 million.

Solarvest to provide RM25m financial assistance to unit

A summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.

FBM KLCI rises 0.49% to 1,611.11 on May 16, 2024

Sunway Real Estate Investment Trust (KL:SUNREIT), which manages a diversified portfolio ranging from malls to offices, said on Thursday its net profit fell nearly 10% in the first quarter from a year earlier, dragged by higher marketing cost and disposal of its medical centre.

Sunway REIT net profit falls 10% in 1Q as marketing cost drags

A massive dislocation between the prices for copper traded in New York and other commodity exchanges has rocked the global market for the metal and prompted a frantic dash for supplies to ship to the US.

Copper short squeeze in New York is rocking metals markets

The Ministry of Economy will present a progressive regulatory framework for carbon capture, utilisation and storage (CCUS) in Parliament next week, said Minister Mohd Rafizi Ramli at the OGSE 100 CEOs Forum organised by the Malaysia Petroleum Resources Corporation (MPRC) on Thursday.

Rafizi: 'Progressive' carbon capture, utilisation and storage framework to be presented next week

(May 16): Chancellor of the Exchequer Jeremy Hunt will meet business executives at his grace-and-favour residence in leafy Buckinghamshire on Thursday, as he tries to secure more company listings in the UK.

UK’s Hunt gathers executives to pitch for more London listings

India's market watchdog has recommended that several regulators oversee trade in cryptocurrencies, documents show, the strongest signal to date that at least some authorities in the country are open to allowing the use of private virtual assets.

India's Sebi open to oversight of crypto trade, in contrast to Reserve Bank 

(May 16): Bitpanda GmbH, the cryptocurrency broker backed by billionaire Peter Thiel, expects bank deals and a digital-asset rally to propel record profit this year.

Crypto broker Bitpanda says profit may rebound to record in 2024

Adidas is launching cheaper versions of its three-striped shoes like the white and black suede Samba as it aims to spread the trend, CEO Bjorn Gulden said on Thursday at the company's annual shareholders' meeting in Germany.

Adidas plans cheaper versions of popular shoes

World stocks hit a record high and bond markets rallied on Thursday as galvanised hopes of interest rates cuts in the US and other major economies extended a powerful month-long global bull run.

Stocks and bonds bask in rate cut hopes

Sarawak Cable Bhd (KL:SCABLE) on Thursday said that the High Court has allowed the winding-up petition by OCBC Bank (Malaysia) Bhd on its subsidiaries Universal Cable (M) Bhd and Leader Cable Industry Bhd.

High Court gives nod for OCBC to wind up Sarawak Cable’s subsidiaries

<p>Rakuten Trade said trading in rubber glove stocks took the limelight on Wednesday, buoyed by the US tariff imposition on Chinese goods which will only take effect in two years.</p>


Analysts say glove stocks rally a knee-jerk euphoria, advise investors to stay vigilant

<p>KUALA LUMPUR (May 16): Shares of Malaysian glove manufacturers fell on Thursday, as analysts advised investors to remain vigilant over emerging concerns on US tariffs on Chinese goods, which will not take effect for another two years.</p>


Glove counters surrender gains as analysts advise investors to stay vigilant

<p>Shares in Malaysia Airports Holdings Bhd (KL:AIRPORT), or MAHB, did not fare well on Thursday, folllowing news of a privatisation offer at RM11 per share led by a consortium of its major shareholder Khazanah Nasional Bhd and the Employees Provident Fund (EPF).&nbsp;</p>


MAHB shares fall as investors cautious about privatisation deal

<p>KUALA LUMPUR (May 16): The Malaysian Aviation Commission (Mavcom) has revoked the Air Service Licence (ASL) of scheduled air cargo operator My Jet Xpress Airlines Sdn Bhd.</p>


Mavcom revokes Air Service Licence of My Jet Xpress Airlines

<p>Shares of AEON Co (M) Bhd (KL:AEON) surged to their highest in 20 months as investors cheered the department store operator’s first-quarter results while analysts raised their forecasts to catch up with the stronger-than-expected earnings.</p>


AEON shares jump to 20-month high after 50% surge in 1Q net profit

<p>KUALA LUMPUR (May 16): IJM Land Bhd, the property arm of construction giant IJM Corporation Bhd (IJM Corp)(KL:IJM), said on Thursday that it has secured eight central London sites for development with its partner Network Rail Property.</p>


IJM, partner secure eight central London sites for development

<p>A three-member Court of Appeal bench on Thursday upheld a High Court decision given two years ago, which had dismissed an Inland Revenue Board (IRB) claim of taxes amounting to RM1.8 billion against Tenaga Nasional Bhd (KL:TENAGA).</p>


TNB need not pay RM1.8b additional taxes as appellate court upholds High Court's decision

<p>(May 16):&nbsp;Singapore Airlines Ltd&nbsp;will reward staff with a bonus payout worth almost eight months of salary, according to a person familiar with the matter, after delivering a second consecutive record annual profit.</p>


Singapore Air staff get eight months' salary bonus after record profits

<p>National oil firm Petroliam Nasional Bhd’s (Petronas) subsidiary Suriname E&amp;P BV&nbsp;(Petronas Suriname E&amp;P) has made a third hydrocarbon discovery in Suriname’s Block 52 at the Fusaea-1 exploration well, located about 170km offshore and 9km east from Roystonea-1.</p>


Petronas makes oil and gas discovery at Suriname's offshore Block 52

<p>KUALA LUMPUR (May 16): Shares of Mitrajaya Holdings Bhd (KL:MITRA) rose to their highest in more than eight months, after the builder and property developer announced that it has secured a contract worth RM174.3 million.</p>


Mitrajaya surges to over eight-month high amid active trade after RM174m contract win

<p>Gold and jewellery brand Tomei Consolidated Bhd (KL:TOMEI) anticipates that the newly introduced Employees Provident Fund's (EPF) Account 3 will enhance consumers' spending power, potentially boosting its retail sales.</p>


Tomei anticipates retail boost from new EPF Account 3

<p>The government should encourage more graduates to work abroad for better salaries to service their student debt, as Malaysia is experiencing wage stagnation and an erosion of living standards, according to the Khazanah Research Institute (KRI).</p>


Encourage graduates to work abroad for better salaries to service student debt, Khazanah Research tells Putrajaya

<p>Meta Platforms has restored Facebook posts by Malaysian media covering Prime Minister Datuk Seri Anwar Ibrahim's meeting this week with a Hamas leader, saying they were removed in error.</p>


Meta restores Facebook posts by Malaysian media on Anwar's meeting with Hamas

<p>Shares in Apex Healthcare Bhd (KL: AHEALTH) fell again on Thursday, and may be on track for their worst day in nearly a year, after the pharmaceutical company posted weaker-than-expected first-quarter results.</p>


Apex Healthcare shares extend decline after 1Q results

<p>Industrial paint and coating manufacturer Smart Asia Chemical Bhd (KL:SMART), which is set to be listed on the ACE Market of Bursa Malaysia on May 28, said its initial public offering (IPO), priced at 40 sen apiece, has been oversubscribed by 33.8 times.</p>


Smart Asia Chemical oversubscribed by 33.8 times ahead of ACE Market listing

<p>Ekuiti Nasional Bhd (Ekuinas) is investing RM37 million in local Bumiputera company Mizou Holdings Sdn Bhd, which is mainly involved research and development, sales, distribution and support services of specialised agricultural machinery designed for the upstream palm oil sector.</p>


Ekuinas invests RM37m in industrial machinery developer Mizou

<p>theedgemalaysia.com&nbsp;<wbr />highlighted three stocks with positive momentum and 12 stocks with negative momentum at Bursa Malaysia's afternoon close on Thursday. &nbsp;</p>


Straits Energy, Revenue, AEON Co, Notion VTec, L&P Global, MBSB, Hume Cement, VSTECS, ELK-Desa, Icon Offshore, Dancomech, WMG, SCGM, Jiankun International, Mitrajaya

<p>Property developer UEM Sunrise Bhd (KL:UEMS) and its partners plan to develop a 40-acre renewable energy industrial park in Iskandar Puteri, Johor.</p>


UEM Sunrise, partners to develop renewable energy park in Johor

<p>KUALA LUMPUR (May 16): Malaysia is taking steps to strengthen its regime on anti-money laundering, and the countering of financing terrorism and the proliferation of weapons of mass destruction (AML/CFT/CPF), the central bank said.</p>


BNM: Malaysia taking steps to strengthen anti-money laundering, counter-terror laws

<p>Norway’s US$1.7 trillion (RM7.96 trillion) sovereign wealth fund has decided to exclude Adani Ports &amp; Special Economic Zone Ltd&nbsp;from its portfolio, citing 'unacceptable'&nbsp;risks that the company is tied to human rights violations in war and conflict zones.</p>
