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

VENICE (April 25): Venice becomes the first city in the world on Thursday to introduce a payment system for tourists in an effort to thin the crowds that throng the canals during the peak holiday season.

Any visitor who is not staying the night must pay a 5 euro ($5.35) entry fee online...

Overcrowded Venice introduces first payment charge for tourists

Mark Zuckerberg is asking for investors to stay patient. Again.

After Meta Platforms Inc revealed that it will spend billions of dollars more than expected this year — fueled by investments in artificial intelligence — the company’s chief executive officer did his best to soothe Wall Street.

Zuckerberg asks for patience after Meta’s AI push irks investors

Synergy House Bhd may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high.

Synergy House may trend higher, says Rakuten Trade

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

Germany is waging a charm offensive inside the Republican Party. Japan is lining up its own Trump whisperer. Mexican government officials are talking to Camp Trump. And Australia is busy making laws to help Trump-proof its US defence ties.

How US allies are preparing for a possible second Trump term

Apex Research says Ramssol is kicking off the year with a blast

MORNING CALL: 25/4/24

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 

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 

Binance co-founder Changpeng Zhao is facing up to three years in prison, if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.

Friends, family, royalty seek mercy for crypto’s richest man

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

Meta’s miss sparks fear in tech world with big earnings looming

The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.

Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co, the world’s largest nickel and stainless steelmaker, agreed to buy the 2,612 sq m (28,111 sq ft) house in the country’s Bin Tong Park enclave, according to a property record seen by Bloomberg News.

Chinese metal tycoon’s heir buys US$62m Singapore mansion

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

KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.

Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

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

KUALA LUMPUR (April 24): Suria Capital Holdings Bhd’s wholly owned Sabah Ports Sdn Bhd has roped in DP World, an Emirati multinational logistics company based in Dubai, to manage Sapangar Bay Container Port (SBCP), in a bid to cement the port’s position as a regional trade hub for the East Asean growth area spanning Brunei, Indonesia, Malaysia and the Philippines (BIMP-EAGA).

Suria Capital’s Sabah Ports ropes in Dubai’s DP World to manage Sapangar Bay Container Port

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EVENING 5: Five things you need to know today

TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.

TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.

High Court bins Musang King farmers’ bid to challenge land eviction notice in Pahang

The prosecution succeeded in its appeal at the Federal Court on Wednesday to forfeit RM1,112,700 from 79 investors involved in an illegal deposit-taking scheme.

Apex court allows forfeiture of RM1.11m belonging to investors of illegal deposit-taking scheme

Binance co-founder Changpeng Zhao is facing up to three years in prison, if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.

Benchmark S&amp;P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.

S&P 500 ends higher as markets weigh rising yields, upbeat corporate results

CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions.

CLMT’s 1Q net property income jumps 63% to RM64m, DPU up 37%

The strategic collaboration between Sabah Ports Sdn Bhd (SPSB) and DP World, a global port terminal operator, will be a boon to Sabah’s aspiration to promote the Sepangar Bay Container Port (SBCP) as a key transshipment hub in the region, said Chief Minister Datuk Seri Hajiji Noor.

Hajiji: Tie-up between Sabah Ports, DP World to boost state’s aim to become transshipment hub

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

The Nasdaq outpaced Wall Street peers on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support.

Nasdaq outshines Wall Street peers on tech boost, earnings glee 

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

US and European shares finished mixed on Wednesday ahead of more corporate earnings this week, and the yen was mired near 34-year lows, keeping traders wary of intervention from Japan.

Equities mixed as investors eye earnings; yen on intervention watch

Russia vetoed a United Nations Security Council resolution that would have reaffirmed a global commitment against deploying nuclear weapons in space, rebuffing US efforts to shine a spotlight on Moscow’s reported plans to do so.

Russia blocks US bid to reaffirm nuclear-arms ban in space

Hasbro reported a smaller-than-expected drop in first-quarter sales and handily beat profit estimates on Wednesday, helped by leaner inventories and steady digital gaming revenue, sending its shares up 12%in early trading.

Toymaker Hasbro's turnaround efforts help first-quarter profit beat

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.

Chee Gee Ren

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Chee Gee Ren

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