<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 23): UMW Holdings Bhd is not changing its target for car sales in 2019 despite Bank Negara Malaysia reducing the overnight policy rate (OPR) by 25 basis points, said its president and group chief executive officer Badrul Feisal Abdul Rahim.</p></div>

<div class=newsTextDataWrapInner><p>Speaking at a press conference after the group's annual general meeting today, Badrul Feisal said the group is sticking to sales of 75,000 units for Toyota this year and 231,000 units for Perodua vehicles.</p></div>

<div class=newsTextDataWrapInner><p>"The competition as far as [the] automotive [sector] is concerned is becoming greater, so that is the reason why I believe we don't have to revise. Yes, it is a blessing, OPR has come down, but still the competition is not easing," he said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>UMW is the single largest shareholder in Perodua and the exclusive distributor for Toyota vehicles.</p></div>

<div class=newsTextDataWrapInner><p>In FY19, Badrul Feisal said UMW Holdings' capital expenditure is slightly over RM600 million, comprising a budgeted allocation of RM174 million for the automotive business, which the largest revenue contributor to the group, accounting for almost 80% of its total revenue in FY18.</p></div>

<div class=newsTextDataWrapInner><p>Apart from the automotive business, Badrul Feisal said the group expects to spend about RM262 million on its equipment segment, RM118 million for its manufacturing and engineering division, and RM52 million on others.</p></div>


UMW Holdings Bhd is not changing its target for car sales in 2019 despite Bank Negara Malaysia reducing the overnight policy rate (OPR) by 25 basis points, said its president and group chief executive officer Badrul Feisal Abdul Rahim.

UMW Holdings not revising car sales target for 2019 after OPR cut

Global manufacturing activity recovery had seen a gradual improvement in late 2023, and is expected to continue into 2024, although it remained in contractionary territory after two years of downturn.

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Shares of AirAsia X Bhd (AAX) rose to a six-month high as investors cheered a restructuring plan that would make the company the largest low-cost carrier in Southeast Asia.

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The Employees Provident Fund (EPF) has announced the implementation of Account 3, named Flexible Account, from May 11.

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The debt crisis at Thames Water is jeopardising £100 billion (RM592.09 billion) of potential investment required over the next five years to mend Britain’s crumbling utilities infrastructure.

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Voice TV, a television station owned by former Prime Minister Thaksin Shinawatra’s family, is set to cease operations next month and lay off about 200 employees including journalists, local media Thai PBS reported.

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BERN (April 26): Climate campaigners picketed the Swiss National Bank's (SNB) shareholders meeting on Friday to protest against the central bank's investments in companies they say damage the environment and carry out fracking.

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The Bank of Japan (BOJ) largely left its monetary policy settings unchanged on Friday, which the market will see as a dovish move and likely to lead to further yen weakness, analysts say.

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KUALA LUMPUR (April 26): China will firmly support Malaysia in pursuing a development path suited to its national conditions, and support Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim in promoting the principle of "Malaysia Madani" in governance.

China’s Foreign Minister Wang Yi sa...

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PARIS (April 26): French energy giant TotalEnergies posted a 22% decline in first-quarter earnings versus a year earlier on Friday, as higher refining margins only partly offset a steep decline in profits from natural gas.

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YNH Property Bhd (YNH) issued a clarification to bondholders via Malaysian Trustee Bhd on the technical default of its Islamic notes, as well as the status of its mall sale and the appointment of a new auditor.

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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>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>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>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>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>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>


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<p>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.</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 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 Malaysian Anti-Corruption Commission (MACC) has given businessmen Mirzan Mahathir and Tan Sri Mokhzani Mahathir a 30-day extension from Friday to declare their assets to the anti-graft body.</p>


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<p>Pavilion Real Estate Investment Trust rose to its highest in more than a month&nbsp;after the release of its first-quarter results, while analysts expect the REIT, which mainly manages shopping malls, to benefit further from higher tourist arrivals.</p>
