<div class=newsTextDataWrapInner>KUALA LUMPUR (May 8): Diversified entity MPHB Capital Bhd has cancelled its proposed final dividend of five sen a share for financial year ended December 31, 2013 after the plan failed to get Bank Negara Malaysia's approval. In a statement to the exchange today, MPHB Capital said as a result of Bank Negara's rejection of the proposal, MPHB Capital would not seek its shareholders' consent on the matter. "The company wishes to announce that Bank Negara Malaysia did not approve the company’s proposed payment of final dividend. "Accordingly, we regret to inform that the proposed payment of final dividend has been cancelled and it will not be tabled for shareholders’ approval at the forthcoming annual general meeting of the company," MPHB Capital said. MPHB Capital, which undertakes real estate operations, is also in the hotel and financial-services businesses.</div><div class=newsTextDataWrapInner> </div></div><div class=inPageAd id=div-gpt-ad-inpage>

KUALA LUMPUR (May 8): Diversified entity MPHB Capital Bhd has cancelled its proposed final dividend of five sen a share for financial year ended December 31, 2013 after the plan failed to get Bank Negara Malaysia's approval. In a statement to the exchange today, MPHB Capital said as a result of Bank Negara's rejection of the proposal, MPHB Capital would not seek its shareholders' consent on the matter. "The company wishes to announce that Bank Negara Malaysia did not approve the company’s proposed payment of final dividend.  "Accordingly, we regret to inform that the proposed payment of final dividend has been cancelled and it will not be tabled for shareholders’ approval at the forthcoming annual general meeting of the company," MPHB Capital said. MPHB Capital, which undertakes real estate operations, is also in the hotel and financial-services businesses.

#Update* MPHB Capital cancels final dividend after Bank Negara disapproves payout

(May 10): When Oracle Corp. spent $28 billion two years ago to acquire electronic-records company Cerner Corp., it promised a revolution in health care technology.

Co-founder and Chairman Larry Ellison declared the deal would help fix many of the labyrinthine industry’s ills by moderniz...

Oracle’s $28 billion cerner health tech bet sputters with lost customers and slipping sales

Federal Reserve (Fed) Bank of San Francisco President Mary Daly said interest rates are currently restraining the economy, but it may take “more time” to return inflation to the central bank’s goal.

Fed’s Daly says ‘more time’ needed for restrictive rates to work

A total of 39,362 voters will cast their ballots in the Kuala Kubu Baharu (KKB) state by-election on Saturday.

Kuala Kubu Baharu voters go to the polls on Saturday

World stocks rallied on Thursday, led by surging European shares and a larger-than-expected rise in US weekly jobless claims that buoyed interest rate cut hopes, while the dollar eased as the market awaits key inflation data next week.

Asia stocks rally on renewed global rate cut optimism

Japan's consumer spending fell for the 13th straight month in March, creating challenges for policymakers who are seeking to drive stronger real wage growth, a prerequisite for additional central bank rate hikes.

Japan's consumer spending extends declines as outlook weakens

Scoot, the budget carrier arm of Singapore Airlines Ltd, cited a parts shortage for its recent cancellation of dozens of flights, according to the Straits Times.

Scoot axed flights on parts shortage, Straits Times says

Shares of MCE Holdings Bhd (KL:MCEHLDG) rose to their highest in at least two decades after the automotive parts manufacturer said Brahmal Vasudevan of private equity firm Creador is its newest substantial shareholder.

MCE Holdings surges to highest in at least two decades

Victoria’s Secret & Co said sales have improved despite more promotions and tough competition.

The lingerie maker said Thursday that its preliminary sales and adjusted profit for the quarter ended May 4 were at the high end or above its prior projections.

Victoria’s Secret jumps as sales decline moderates

President Joe Biden’s administration is poised to unveil a sweeping decision on China tariffs as soon as next week, one that’s expected to target key strategic sectors with new levies while rejecting the kind of across-the-board hikes sought by Donald Trump, people familiar with the matter said.

Biden poised to impose tariffs on China EVs, strategic sectors, Bloomberg reports

UBS Group AG is considering introducing a reward system for investment bankers who refer clients to the firm’s wealth management business, according to people with knowledge of the matter.

UBS weighs bonus for investment bankers who refer rich clients, Bloomberg reports

KUALA LUMPUR (May 9): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Salcon Bhd (KL:SALCON) said Envitech Sdn Bhd, a 60%-owned subsidiary of Salcon Engineering Bhd, has been awarded a job by Rantau Urusan (M)...

Salcon, Supermax, MAHB, Pentamaster, Solarvest, Scientex, Globetronics, Mr DIY, MCE, Kerjaya Prospek, MAA, KNM and Annum

Hong Leong Investment Bank (HLIB) Research has a “trading buy” rating on Genting Bhd (KL:GENTING) at RM4.52 with a target price of RM7.12 and said it continues to like Genting for its well-established operational presence across diverse regions, mitigating regulatory and country risks.

HLIB says Genting is undervalued, target price RM7.12

Bank Negara Malaysia (BNM) has been working to pilot a fast-track pre-approval framework for corporates who bring back foreign currency funds and convert to ringgit, to enable them to re-invest abroad when the time comes, according to deputy governor Adnan Zaylani.

BNM aims to pre-approve oversea reinvestments to encourage repatriation of foreign proceeds

Shares of MCE Holdings Bhd (KL:MCEHLDG) rose to their highest in at least two decades after the automotive parts manufacturer said Brahmal Vasudevan of private equity firm Creador is its newest substantial shareholder.

The Dow Jones Industrial Average closed higher on Thursday, the seventh straight daily advance for the benchmark, as all three major US indexes gained after weekly jobless claims data offered fresh hope for interest-rate cuts.

Dow closes up to make it seven in a row, as jobs data boosts rate-cut hopes

TA Securities has valued ACE Market-bound Smart Asia Chemical Bhd (SAC) at 12 times calendar year 2025 (CY2025) earnings per share (EPS), arriving at a fair value of 54 sen.

TA Securities values ACE Market-bound Smart Asia Chemical at 54 sen 

Phillip Capital has maintained its “buy” rating on Pentamaster Corp Bhd (KL:PENTA) at RM4.44 with a higher target price of RM6.23 (from RM5.65) and said Pentamaster’s first quarter of 2024 (1Q2024) core net profit of RM24 million was in line with its and consensus forecasts.

Phillip Capital raises target price for Pentamaster to RM6.23 

The graph of people's support for Pakatan Harapan (PH) candidate shows an encouraging uptrend from the results of the face-to-face campaign conducted by the party machinery ahead of the last days of the Kuala Kubu Baharu state by-election campaign.

KKB by-electon: Graph of voter support for PH candidate rising, encouraging — Amirudin

Farm Price Holdings Bhd, which will be listed on the ACE Market next Tuesday (May 14), announced net profit of RM2.67 million on revenue of RM30.71 million for the first quarter ended March 31, 2024 (1QFY2024).

Vegetable wholesaler Farm Price posts RM2.67 mil net profit in 1QFY2024 ahead of listing

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives extended its decline on Thursday, weighed down by weaker edible soft oils and cautious trading ahead of April’s palm oil data on Friday.

Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said the decline reflects cautious positioning ahead of the industry data due on May 10, focusing on the extent of April’s production rise.

CPO futures extend decline amid weaker edible soft oils

World stocks rallied on Thursday, led by surging European shares and a larger-than-expected rise in US weekly jobless claims that buoyed interest rate cut hopes, while the dollar eased as the market awaits key inflation data next week.

Apple Inc issued a rare apology for an advertisement touting its latest iPad Pro that upset many creatives and other customers. The company also said it won’t air the ad on television as planned.

Apple apologises for iPad Pro ad, scraps plan to air it on TV

Inter-Pacific Research Sdn Bhd said that after a two-day consolidation, the key FBM KLCI index could mount a rebound to end the week on a firmer note.

KLCI seen hovering between 1,600 and 1,610 on Friday

Annum Bhd (KL:ANNUM), formerly known as Cymao Holdings Bhd, says it is going to hire a new audit firm to conduct a special audit on its revenue, after its external auditor Messrs SBY Partners PLT said it cannot verify the figures Annum reported despite performing additional audit procedures.

Annum, which is involved in the manufacturing of wood-based products, just hired SBY in March this year after approaching 31 other auditors who turned down the job. Most had cited resource constraints, according to the group.

Annum plans special audit after newly hired auditor declines to vouch for its financials

The Selangor government on Thursday launched the Selangor State Structure Plan 2035 (Amendment) draft, a planning document aimed at complementing the First Selangor Plan 2021-2025 in managing the state's physical development.

Selangor govt launches State Structure Plan 2035 draft for public feedback

Main-Market listed Warisan TC Holdings Bhd (KL:WARISAN) has lodged a 30-year medium-term notes (MTN) programme worth RM500 million with the Securities Commission of Malaysia (SC).

The move is to raise funds for its capital expenditure, working capital requirements, projects, investments and asset acquisitions, as well as repayment of borrowings, the group told Bursa Malaysia.

Warisan TC lodges 30-year, RM500m medium term notes programme

Singapore's second-largest bank Oversea-Chinese Banking Corp (OCBC) posted on Friday a better-than-expected 5% rise in first-quarter profit and forecast its net interest margin at the higher end of a 2.20% to 2.25% range for the full year.

Singapore's OCBC posts record 1Q profit, lifts margin guidance for 2024

Airbnb Inc shares slid by the most in a year after the home-rental company gave lackluster guidance for a second straight quarter, indicating that growth in travel spending will slow ahead of the peak summer season. &nbsp;

Revenue for the current quarter ending in June will be US$2.68 billion to US$2.74 billion, the company said Wednesday in a letter to shareholders. Analysts had been expecting US$2.74 billion. In its statement, Airbnb blamed the earlier timing of the 2024 Easter holiday, as well as currency headwinds.

Airbnb posts biggest decline in a year on weak travel outlook

Goldman Sachs Group Inc led major investment banks posting higher profits in Japan as bond trading boomed, offering a cushion last year in an otherwise tough environment globally.

Goldman tops investment banks reaping windfall in Tokyo trading

Zeekr Intelligent Technology Holding Ltd, the high-end electric car brand under Zhejiang Geely Holding Group Co, sold shares in an expanded initial public offering (IPO) at the top of a marketed range to fetch about US$441 million (RM2.09 billion), according to people familiar with the matter.