Cycle and Carriage Bintang Bhd remained in the red for the second quarter of financial year 2020, posting an 18.93% narrower net loss of RM9.38 million compared with RM11.58 million a year earlier, owing to a plunge in sales.

Cycle & Carriage 2Q losses narrow, expects challenges for the rest of the year

With the acceleration in digitisation spurred by the Covid-19 pandemic, cybersecurity experts from CyberSecurity Malaysia and the Malaysian Digital Economy Corp (MDEC) believe traditional cybersecurity solutions are no longer sufficient, and that investments in new technology must be made.

New cybersecurity technologies needed, says cybersecurity experts

Mi Technovation Bhd reported a 4.17% increase in its net profit for the second quarter ended June 30, 2020 (2QFY20) to RM18.1 million from RM17.38 million a year earlier, on higher sales, which pushed its revenue up.

Mi Technovation sees stronger 2Q profit on higher sales

AppAsia Bhd, whose share price reached a record high today, has launched eConfirm.my, which it says is the nation’s first and only industry-wide electronic platform used to confirm banking information needed for audit purposes.

AppAsia hits all-time high, launches online bank confirmation platform

Media Chinese International Ltd (MCIL) non-executive chairman Datuk Seri Dr Tiong Ik King said the Covid-19 pandemic has put the group in the unusual position of having the audience that the newspaper publisher has always targeted, but without the revenue from advertisers, who scaled back their advertising budgets.

Covid-19 has put Media Chinese International in unusual position — chairman

RHB Investment Bank Bhd maintained its “buy” call for Sarawak Oil Palms Bhd, and raised its target price for the company to RM4.20 from RM3.75 on the back of strong expected earnings and a decent valuation.

RHB Investment Bank keeps ‘buy’ rating for Sarawak Oil Palms on strong sector earnings

Trading interest in Opcom Holdings Bhd surged today, with its share price rising as much as 48.05% to 57 sen after it secured a contract worth RM21.37 million from Telekom Malaysia Bhd (TM) to supply optical fibre cables to the latter.

Opcom shares surge after bagging RM21.37m TM contract

Hong Leong Investment Bank (HLIB) Research has lowered its target price (TP) for ViTrox Corp Bhd to RM7.17, from RM8.43, on reduced earnings forecasts for the company, which manufactures automated vision inspection equipment for the semiconductor industry.

HLIB Research cuts ViTrox earnings forecasts, target price

Bursa Malaysia Bhd’s share price jumped as much as 29 sen or 3% to RM10 in morning trades today as investors looked ahead to the bourse operator and regulator’s second quarter results announcement and after RHB Investment Bank Bhd raised its Bursa net profit forecast and share target price (TP).

Bursa share price jumps after RHB IB raises profit forecast, target price

British American Tobacco (M) Bhd (BAT) reported a 28.39% fall in second quarter net profit to RM54.61 million from RM76.27 million a year earlier, due to lower sales.

Earnings per share for the quarter ended June 30, 2020 fell to 19.1 sen from 26.7 sen, the group said in a filing with Bursa Malaysia.

BAT 2Q net profit down 28% on lower sales, announces 18 sen interim dividend

Apple Inc has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.

Apple intensifies talks with OpenAI for iPhone generative AI features

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak to collaborate with rare earth elements company from South Korea, says MB

Global stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen sank to a 34-year low after the Bank of Japan (BOJ) kept monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

Who pays for anytime EPF withdrawals?

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

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

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

(April 26): HSBC Holdings Plc successfully fought off a London court claim brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

EVENING 5: Five things you need to know today

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

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KNM Group Bhd said it is seeking court sanction for a new scheme of arrangement with its creditors. The PN17 group is also seeking a further extension of time to submit its regularisation plan.

KNM seeks fresh scheme of arrangement with creditors

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

(April 26):&nbsp;HSBC Holdings Plc successfully fought off a London court&nbsp;claim&nbsp;brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co&nbsp;film financing.

KUALA LUMPUR (April 26):&nbsp;KPJ Healthcare Bhd, through its premier educational institution&nbsp;KPJ Healthcare University (KPJU),&nbsp;has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise&nbsp;healthcare.

KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

Wall Street rises as Big Tech charges higher

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

US equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for rate cuts this year.

US equity funds see fourth straight week of outflows amid rate cut reassessment

HULU SELANGOR (April 28): The Ministry of Health (MOH) stands by its decision to amend the Medical Act 1971 (Act 50) to bridge the gap between the parallel pathway programme (PPP) and the local medical degree programme, despite objections from some parties.

Health Ministry stands by decision to amend Medical Act 1971

Fast-fashion firm&nbsp;Shein&nbsp;has been drawn under the scope of flagship&nbsp;European Union (EU) rules designed to clamp down on illegal and harmful content online, aimed at stopping the spread of counterfeit items on the platform.

EU hits fast-fashion giant Shein with new digital rules

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp&nbsp;will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel&nbsp;Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

HOUSTON/BENGALURU (April 26): Oil giant&nbsp;Chevron&nbsp;Corp&nbsp;beat estimates for first-quarter profit on Friday, as higher production volumes&nbsp;in the US&nbsp;helped offset a hit from weak natural gas prices&nbsp;and fuel margins.

Chevron posts 1Q profit beat with oil production gains

Global&nbsp;stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen&nbsp;sank to a&nbsp;34-year low after the Bank of Japan (BOJ)&nbsp;kept&nbsp;monetary policy loose.

WASHINGTON (April 26):&nbsp;Ukrainian President Volodymyr Zelenskiy called on Friday for additional air defence systems to be sent to Kyiv to help protect against Russian strikes, adding that a pause in US&nbsp;funding had helped Moscow seize the initiative.

Ukraine's Zelenskiy calls for air defence systems as allies meet

A weekly round-up of tanker and dry bulk market (April 26, 2024)

Baltic Exchange shipping updates: April 26, 2024

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Chee Gee Ren

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Chee Gee Ren

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