<div class=newsTextDataWrapInner>SINGAPORE (Feb 24): Singaporean homegrown pawnshop chain ValueMax Group has reported earnings of S$33.9 million for the FY2020 ended December, 33% higher than earnings of S$25.5 million a year ago.</div>

<div class=newsTextDataWrapInner>Revenue for the year grew by 17% y-o-y to S$276.1 million due to higher revenue from retail and trading of pre-owned jewellery and gold businesses, which increased by S$40.7 million due to the higher gold prices during FY2020.</div>

<div class=newsTextDataWrapInner>The higher figure was mitigated by a decrease of S$0.5 million from the group’s moneylending businesses. Revenue from<a href="https://www.theedgesingapore.com/capital/results/valuemax-sees-33-growth-fy20-earnings-339-mil-growth-retail-and-trading-pre-owned" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (Feb 24): Singaporean homegrown pawnshop chain ValueMax Group has reported earnings of S$33.9 million for the FY2020 ended December, 33% higher than earnings of S$25.5 million a year ago.

Revenue for the year grew by 17% y-o-y to S$276.1 million due to higher revenue from retail and trading of pre-owned jewellery and gold businesses, which increased by S$40.7 million due to the higher gold prices during FY2020.

ValueMax sees 33% growth in FY20 earnings of S$33.9 mil

Senior Chinese military officials held separate meetings with US and Russian naval counterparts during a Western Pacific naval symposium in Qingdao this week, a Chinese defence ministry spokesperson said on Thursday.

Spokesperson Wu Qian told a media briefing in Beijing that China's naval commander Admiral Hu Zhongming and political commissar Yuan Huazhi had a "deep exchange of views" with US Pacific Fleet chief Admiral Stephen Koehler and Russia's naval commander Admiral Alexander Moiseyev.

Chinese military officials met US and Russian naval officials this week

KUALA LUMPUR (April 25): HeiTech Padu Bhd targets stronger earnings growth after returning to profitability for the financial year ending Dec 31, 2023 (FY2023), amid greater competition.

HeiTech Padu targets stronger earnings growth after returning to black in 2023

Malaysia is among the leading countries in Southeast Asia regarding the adoption of drone technology, with a higher trend of adoption seen among the younger generation as well as learning institutions that employ drones for research objectives, said DJI Enterprise.

Malaysia leads drone adoption in SE Asia — DJI Enterprise

OTTAWA (April 25): Nearly 200 fossil fuel and chemical industry lobbyists plan to join this week's United Nations (UN) negotiations on the first global treaty to curb plastic pollution — a 37% jump from the previous gathering in November, an analysis released on Thursday showed.

Oil, chemical industry lobbyists pile in to UN talks to curb plastics

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

Meta’s miss sparks fears in tech with more earnings ahead

The US plans to award Micron Technology Inc US$6.1 billion (RM29.14 billion) in grants and as much as US$7.5 billion in loans to help the memory-chip maker build new American factories, rounding out a slew of major federal awards for advanced semiconductor manufacturing.

Micron to get up to US$13.6 bil in US grants, loans

The Council of Palm Oil Producing Countries (CPOPC) has called on the European Union to delay the implementation of deforestation rules by at least a year for small businesses, its secretary general said on Thursday.

Palm oil producers urges EU to delay deforestation rules for small businesses

World stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram parent Meta hammered tech, while the yen's drop through 155 per dollar for the first time since 1990 kept FX traders on intervention alert.

Stocks and yen struggle as tech troubles weigh

Shares of CapitaLand Malaysia Trust (CLMT) surged on Thursday to its highest in nearly four years while analysts remained upbeat following better-than-expected first-quarter (1Q) results.

CapitaLand Malaysia Trust surges to near four-year high after strong 1Q

The government’s move to introduce a progressive wage policy is the right approach to boost labour productivity in Malaysia, according to a World Bank economist.

Progressive wage policy right approach to boost growth in Malaysia's labour productivity — World Bank economist 

KUALA LUMPUR (April 25): Members of the the Employees Provident Fund (EPF) who are below 55 years old will have an Account 3 starting from May 11, from which they can make withdrawals at any time for any purpose —&nbsp;subject to a minimum withdrawal amount of RM50. This is on top of the two existing accounts they currently have for retirement savings.&nbsp;

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

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.

Malaysia is said to mull casino resort to revive Forest City

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.

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

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.

Digital Nasional names senior telco and tech leaders as new directors

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.

How Volvo landed a cheap Chinese EV on US shores in a trade war

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

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

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’.

Maybank IB is the first from a total of fi...

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

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.

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

Prime Minister Datuk Seri Anwar Ibrahim on Thursday denied claims that the government will issue a licence for the operation of a casino in Forest City, Johor.

PM denies claims that govt issuing casino licence for Forest City

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.

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.

Malaysia’s inflation steady at 1.8% in March

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.

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

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

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

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

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.

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.

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

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

NationGate is observing technical breakout, says RHB Retail Research 

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.

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

The Malaysian Anti-Corruption Commission (MACC) has confirmed that former prime minister Tun Dr Mahathir Mohamad is among individuals under investigation by the commission.

Azam Baki confirms Dr M among individuals under MACC probe

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.

Malaysia needs RM10 bil for next three years to upgrade water infrastructure — SPAN

(April 24): Some of the world's largest solar equipment makers asked President Joe Biden's administration on Wednesday to impose tariffs on panels and cells from four Asian countries, to protect billions of dollars in investments in US manufacturing.