Sapura Energy Bhd’s joint-venture (JV) company SapuraOMV Upstream (Western Australia) Pty Ltd has submitted the environment plan (EP) for its offshore Kanga-1 exploration well in Western Australia (WA) to the National Offshore Petroleum Safety and Environmental Management Authority (Nopsema) for the JV’s planned oil and gas (O&G) operations there.

Sapura Energy JV submits environment plan for Australian O&G exploration well

Pharmaniaga Bhd and Duopharma Biotech Bhd rose among Bursa Malaysia top gainers in afternoon trades today as pharmaceutical companies continue to enjoy investor attention on increasing Covid-19 vaccine hopes.

Pharmaniaga, Duopharma among Bursa top gainers on Covid-19 vaccine-fueled ascent

Top Glove Corp Bhd, Hartalega Holdings Bhd, Supermax Corp Bhd and Kossan Rubber Industries Bhd led Bursa Malaysia's top decliners in morning trade today on profit-taking after these companies’ share prices rose substantially in recent days as a resurgence in global Covid-19 infections led to expectation of higher demand for rubber gloves.

Glove counters slump among Bursa top decliners on profit taking

Car leather upholstery maker Pecca Group Bhd, which announced its venture into personal protective equipment (PPE) production in late June, has decided to purchase additional face mask machinery to expand its production capacity.

Pecca says mass production of N95 face masks to start this month

Shares of Borneo Oil Bhd rallied to a two-year high this morning after its subsidiary Borneo Oil & Gas Corporation Sdn Bhd found gold deposits in one of its mining plots.

Borneo Oil soars to two-year high after finding gold deposits in mining land

The upper limit price of Tomei Consolidated Bhd shares have been frozen by Bursa Malaysia at RM1.53, after the counter hit limit up for two consecutive days.

In a filing today, the local bourse said the freeze is maintained in accordance with the rules of Bursa Malaysia Securities, Chapter 8 TRADING, STATIC PRICE LIMITS (8.13(5)) and Trading Manual Chapter 4, Reference Price And Price Limits (4.3) Freezing of Price.

Bursa freezes Tomei's upper limit price after the stock soars on gold rally

Amid the havoc wreaked by the coronavirus, Malaysia’s economy is likely to have hit its bottom in the second quarter of this year (2Q20), contracting by a double-digit percentage, said the Socio-Economic Research Centre (SERC).

2Q likely the worst quarter with double-digit contraction — SERC

The Institute for Democracy and Economic Affairs (IDEAS) has called on the government to prepare a concrete plan to liberalise the paddy and rice industry after the latter announced that Padiberas Nasional Bhd (BERNAS) will remain the single gatekeeper for rice imports.

Plan to liberalise rice industry needed, says IDEAS

The local Chinese business community remains gloomy on this year’s economic outlook, but over two-thirds of them feel they can survive the challenges brought about by the Covid-19 pandemic.

Businesses confident of surviving Covid-19 despite negative outlook this year, says ACCCIM

The ringgit appreciated to its highest in five months at 4.1955 against the greenback, which has weakened as pandemic aid in the US appear stuck in legislative gridlock.

Reuters reported that the US dollar was under pressure as the latest Covid-19 relief package got bogged down in Congress and investors braced for a bumpy ride to economic repair.

Ringgit strengthens to five-month high as greenback weakens

(April 24): Walmart’s majority-owned fintech startup One has started offering buy now, pay later (BNPL) loans for big-ticket items like electronics and power tools at some of the retailer's U.S. stores, a source said on Tuesday.

The fintech joins peer Affirm as one of the options that W...

Walmart-backed fintech One launches 'buy now, pay later' services, source says

With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?

What’s next for 5G deployment in Malaysia?

(April 23): Tesla said it will lay off 6,020 employees in Texas and California ahead of its quarterly results on Tuesday when CEO Elon Musk is expected to outline the electric-vehicle maker's strategy to combat slowing demand and falling margins.

Last week, Tesla announced&nbs...

Tesla to cut more than 6,000 jobs in Texas, California, notices show

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 24)

Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.

Bursa opens higher tracking overnight Wall Street

The ringgit rebounded in early trade on Wednesday as the US dollar retreated after S&P Purchasing Managers' Index (PMI) data disappoint.

Ringgit rebounds on softer US dollar after PMI data

Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright lands solar supply deal after forming JV company with Doople

Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.

NationGate may extend upward trajectory, says Rakuten Trade 

RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.

Censof observing technical breakout, says RHB Retail Research 

RHB Retail Research said YBS International Bhd is set to resume its uptrend after climbing above the 80.5 sen immediate resistance, surpassing the 21-day simple moving average line.

YBS International set to resume uptrend, says RHB Retail Research 

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.

Critical point failure could’ve led to fatal Lumut chopper crash, says expert

Chin Hin Group Bhd’s conditional mandatory takeover offer to acquire the remaining shares it does not own in Signature International Bhd has turned unconditional, after it aggregated more than 50% of the voting shares.

Chin Hin's MGO for Signature International turns unconditional as shareholding surpasses 50%

The M503-3 Maritime Operations Helicopter (HOM) that was involved in a crash Tuesday morning was used for the first time in the flyby for the 90th Royal Malaysian Navy (TLDM) Anniversary parade.

Downed HOM chopper used for the first time in flyby, says defence minister 

Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

Sarawak eyeing partnership with UK companies to boost semicon capabilities

US stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.

Wall Street closes higher as investors digest earnings, megacap outlook

Tesla Inc is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.

Tesla to accelerate launch of cheaper cars after sales miss

Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.

Stocks gear up for Big Tech earnings; yen touches multi-year lows

IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.

Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.

Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.

Wall Street gains on bright earnings, megacaps' support

Mergers and acquisitions (M&amp;A) activities fell to the lowest in a decade in 2023. According to the “Global M&amp;A Report” published by Bain &amp; Co, the total M&amp;A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.

M&A activities hit a low in 2023, pickup expected this year

RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.

Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.

Digital payments company Block Inc, formerly known as Square, has finished the development of its Bitcoin mining chip as chief executive Jack Dorsey continues to advocate for a more accessible and decentralised system — an effort he’s championed since 2021.

Jack Dorsey’s block finishes development of Bitcoin mining chip

The ringgit rebounded in early trade on Wednesday as the US dollar retreated after S&amp;P Purchasing Managers' Index (PMI) data disappoint.

RHB Retail Research said YBS International Bhd is set to resume its uptrend after climbing above the 80.5 sen immediate resistance, surpassing the 21-day simple moving average line.

International Business Machines Corp (IBM) is in advanced talks to acquire software company HashiCorp Inc, according to people with knowledge of the matter.

IBM is in advanced talks to acquire software provider HashiCorp

KOTA BHARU (April 23): The man involved in&nbsp;the shooting incident at the Kuala Lumpur International Airport (KLIA) in Sepang on April 14 will be charged in a&nbsp;Kota Bharu court on Wednesday (April 24), according to the police.

Chee Gee Ren

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