Ipmuda Bhd will be undertaking a private placement for third party investors and a restricted placement among its directors to raise RM10.44 million to pay for trade payables and staff expenses.

In a bourse filing today, Ipmuda which is involved in the trading of building materials, announced it would be placing out 14.49 million shares or 20% of its issued share capital to third party investors.

Ipmuda launches private and restricted share placements to address cashflow needs

Oil and gas (O&G) integrated services provider Ocean Vantage Holdings Bhd has won a contract worth RM29.56 million contract for works in relation to a solar farm in Manjung, Perak.

In a statement, the group said that its wholly-owned subsidiary Ocean Vantage Engineering Sdn Bhd (OVE) has accepted a letter of award from Andeli Solar Sdn Bhd, whereby OVE will be the domestic sub-contractor for engineering, procurement, construction and commissioning (EPCC) works at the Manjung 9.99 megawatt large-scale solar farm.

Ocean Vantage clinches RM30m solar farm EPCC contract

The Association of Valuers, Property Managers, Estate Agents and Property Consultants in the Private Sector Malaysia (PEPS) has proposed that the government waive the real property gains tax (RPGT) across all property sectors involving transactions of less than RM10 million in 2021 to stimulate the property market.

Budget 2021: Waive RPGT on all properties below RM10m — PEPS

Based on corporate announcements and news flow today, stocks that may be in focus tomorrow (Nov 4) include: LTKM Bhd, Parlo Bhd, Country Heights Holdings Bhd, Fraser & Neave Holdings Bhd (F&N), Frontken Corp Bhd, My EG Services Bhd (MyEG), Prestariang Bhd, Scomi Group Bhd and Malaysia Airports Holdings Bhd (MAHB).

LTKM, Parlo, Country Heights, F&N, Frontken, MyEG, Prestariang, Scomi and MAHB

Ageson Bhd is confident of achieving even higher earnings for the current financial year ending June 30, 2021 (FY21) after posting a record-high net profit in FY20.

Ageson expects its strong earnings momentum to continue into FY21

Vivocom Intl Holdings Bhd has completed its share consolidation exercise, under which every 10 shares and 10 warrants have been consolidated into one share and one warrant, respectively.

Vivocom completes share consolidation

LTKM Bhd said today that its subsidiary has been found guilty of raising the margins of its egg prices under Section 14(1) of the Price Control and Anti-Profiteering Act 2011, and has been fined RM25,000 in default of five months in jail.

LTKM found guilty of raising margins on eggs

Parlo Bhd plans to raise RM25.84 million via a private placement to fund its migrant workforce-related services business, and to repay bank borrowings.

Parlo plans RM25.8m private placement to fund migrant worker biz, debt repayment

Country Heights Holdings Bhd's joint venture with the Sarawak Land Custody and Development Authority has been terminated over claims that the property developer had failed to address contract breaches

Sarawak govt ends 26-year-old hill resort JV with Country Heights

iMedia Asia Sdn Bhd, which is set to be taken over by Rev Asia Bhd, has acquired a 90% stake in leading Malay language portal BeautifulNara. 

This is the fourth acquisition announced by the digital media company in the past 90 days, the others being OhMedia, Ittify and Goody25.

iMedia acquires online Malay portal BeautifulNara

(April 19): Some lenders to Thames Water could face losses of as much as 40% in the event that it ends up being nationalized by the UK government, according to contingency plans drawn up by officials.

The highly indebted water utility, which supplies a quarter of people in England, is i...

Thames Water lenders face 40% losses if it’s nationalized

(April 19): Hedge funds and other international investors are sounding alarms after a profitable education company from China defaulted on its convertible bonds in March.

Hedge funds cry foul over Chinese education firm’s default

Mah Sing Group Bhd's M Oscar development in Sri Petaling has achieved an 85% Quality Assessment System in Construction (Qlassic) from the Construction Industry Development Board (CIDB). The certification was presented by CIDB Malaysia CEO Datuk Mohd Zaid Zakaria at an appreciation night for the completion of M Oscar recently.

Mah Sing's M Oscar awarded 85% Qlassic score

Cities are facing a growing number of crises that cannot be resolved by traditional means. These include the challenges of coexisting with significant cultural differences and diversity, developing the sustainability agenda and discovering the city’s role and purpose on an economic, cultural and ...

Shaping Kuala Lumpur into a creative city

Emerging Asian equities and currencies were sharply lower on Friday as reports Israel attacked Iran in an escalation of tensions in the Middle East led investors to flee to safe-haven assets, including the US dollar.

Surging dollar pressures Asian FX; South Korean won leads losses

PUTRAJAYA (April 19): Payment of fees for training or classes in esports, equestrian, swimming, motorsports and taekwondo is eligible for tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.

Payment of fees for sports training eligible for tax relief from next year — Hannah

Taiwan said on Friday China's decision to open new air routes that run perilously close to two Taiwanese-controlled islands was a flight safety risk taken without consultation, adding it will demand any aircraft using them be asked to turn around.

China opens new air routes near Taiwanese islands

Indonesia said fiscal and monetary policies are in sync to cushion the economy from the rising dollar, demonstrating an all-hands-on-deck approach, with the central bank signalling they’re intervening more actively to aid the rupiah.

Indonesia takes steps to shield economy from strong dollar

Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.

Israel attacks Iran, Reuters reports, as drones shot down over Isfahan 

Five Japanese nationals survived a suicide bomb attack on their vehicle on Friday, as police in Pakistan's city of Karachi shot down a gunman accompanying the bomber, a police spokesperson said, but two passers-by were injured.

Five Japanese nationals escape Pakistan suicide blast attack

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

Israel launched an attack on Iranian soil on Friday, sources said, in the latest tit-for-tat exchange between the two arch foes, whose decades of shadow war has broken out into the open and threatened to drag the region deeper into conflict.

Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;

Awantec shares plunge 53%, intraday short selling suspended 

Shares of Sapura Energy Bhd will be suspended from trading pending an announcement, the company said on Friday.

Trading in Sapura Energy suspended pending announcement 

PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.

PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).

RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.

 Sarawak aiming to transform itself into a centre for clean hydrogen energy

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.

Stocks sink, oil jumps after Israeli attack on Iran

Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.

Apple pulls WhatsApp, Threads from China app store after Beijing order

The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).

Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

KLCI up 0.43% with focus on energy, plantation, financial stocks

KUALA LUMPUR (April 19): MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;

Main-Market bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

Bursa Malaysia Bhd’s core net profit may have risen 34% in the first quarter, from a year earlier, on higher securities and derivatives trading activity when the exchange operator reports its results, Hong Leong Investment Bank said.

Bursa Malaysia 1Q earnings likely up 34% y-o-y, HLIB projects

Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.

Malaysia’s March exports down 0.8%, imports surge 12.5%

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.

Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.

Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.

US stops UN from recognising a Palestinian state through membership

The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.

US bank reserve balances see largest drop since 2022 tax season

Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.

Arjuna Chandran Shankar

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