Second Finance Minister Datuk Seri Amir Hamzah Azizan has assured his legislature counterparts that the rakyat, especially those with low income, would not be negatively affected by the government’s new tax measures.

Govt to mitigate impact of new tax measures on vulnerable groups, Amir Hamzah assures Parliament

Syarikat Jaminan Pembiayaan Perniagaan Bhd (SJPP) and Syarikat Jaminan Kredit Perumahan Bhd (SJKP) have started accepting applications from financial institutions which offer special government guarantee schemes announced in Budget 2024, to assist micro, small, and medium enterprises (MSMEs) and first-time homebuyers who do not earn fixed income.

MOF: Applications open for govt credit guarantee to help MSMEs, first-time home buyers without regular income

CGS International Securities Malaysia Sdn Bhd (CGS MY) has appointed Tan Sri Shahril Ridza Ridzuan and former health minister Khairy Jamaluddin Abu Bakar as independent non-executive directors.

CGS International appoints Shahril Ridza, Khairy Jamaluddin as directors

The government will improve its communication with stakeholders before introducing new tax measures going forward, to avoid repetition of confusion arising from the hike in the service tax to 8% from 6% last week, said Second Finance Minister Datuk Seri Amir Hamzah Azizan.

Amir Hamzah pledges better communication before rolling out new tax measures

IHH Healthcare Bhd’s net profit more than tripled year-on-year in its fourth quarter, driven by higher patient volumes and improved case mix, coupled with the absence of over RM300 million of impairment loss on its China assets and goodwill amid Covid-19 restrictions that it booked in 4QFY2022.

IHH’s net profit triples on absence of impairment while revenue climbs; raises dividend payout ratio to 30%

Construction firm Kerjaya Prospek Group Bhd’s net profit margin will likely improve in coming quarters on lower tax and potential writeback in provisions, said its chairman on Thursday.

Net profit margin for the fourth quarter ended Dec 31, 2023 (4QFY2023) came in at 7.3% from 10% over the same period a year ago.

Kerjaya Prospek's margin squeeze will not last, says chairman

Genting Plantations Bhd's net profit grew 13% for the fourth quarter ended Dec 31, 2023 (4QFY2023) as stronger fresh fruit bunches (FFB) production offset the impact from weaker palm product prices and lower sales at the group’s downstream manufacturing business.

Genting Plantations pays 13 sen dividend after 4Q profit rises 13%

Shangri-la Hotels (M) Bhd, whose net profit narrowed in the fourth financial quarter ended Dec 31, 2023 (4QFY2023), appointed Christopher Phong Siew San as its new managing director (MD) to succeed Chan Kong Leong, who tendered his resignation late last year.

Shangri-la Malaysia appoints new MD, 4QFY2023 narrows

Hong Leong Bank Bhd (HLB) reported a 4.4% growth in net profit for the second quarter ended Dec 31, 2023 (2QFY2024), as higher contributions from associate companies and write-backs from past provisions offset a decline in net interest income.

HLB's 2Q profit up 4.4%, declares 25 sen dividend as associate contributions, write-backs offset lower net interest income

RHB Bank Bhd, Malaysia’s fourth-largest bank by assets, said on Tuesday net interest margin may remain steady this year but flagged pressure from higher funding costs and slowing loan growth.

RHB expects steady net interest margin, flags pressures in FY2024

The Bank of Japan (BOJ) must tread cautiously in raising interest rates, as some indicators of inflation expectations remain short of its 2% target, the International Monetary Fund's Japan mission chief Nada Choueiri said on Friday.

IMF urges Bank of Japan to tread cautiously in raising interest rates

Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.

Prime Minister Benjamin Netanyahu's war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday's missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.

Israel's Iran attack carefully calibrated after internal splits, US pressure

The Nasdaq and the S&P 500 dipped on Friday, with Netflix among the biggest drags on a dour quarterly forecast, while all three indexes stared at weekly losses amid diminishing hopes that the Federal Reserve would cut interest rates anytime soon.

Nasdaq lags peers as Netflix, chip stocks drag; AmEx lifts Dow

Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.

Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.

Anwar arrives in Kota Kinabalu for one-day visit

Parties in the Unity Government have their methods to ensure a win in the Kuala Kubu Baharu by-election next month, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Ahmad Zahid, who is also Barisan Nasional (BN) chairman, said this was discussed at the Unity Government secretariat meeting on Wednesday.

Unity Govt parties have ways to ensure victory in Kuala Kubu Baharu polls — Ahmad Zahid

All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.

Travellers to and from Singapore carrying over S$20,000 must submit online declaration from May 13

KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

Sapura Energy, PIE Industrial, LSH Capital, YX, Westports, Yinson, Sime Darby Property, MISC, Meta Bright, EG Industries, Hextar, Uzma, Nova MSC and Iconic Worldwide

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

YX Precious Metals proposes to transfer listing from ACE Market to Main Market

(April 19): Oyo Hotels is in talks to raise up to US$450 million via dollar bonds, a person familiar with the matter said, as the once-high-flying Indian startup seeks to replace an existing high-cost loan amid delays in its stock-market debut.

Softbank-backed Oyo eyes US$450 mil bond sale for refinancing

CIMB Thai Bank PCL’s net profit for the first quarter ended March 31, 2024 (1QFY2024) dropped 24.6% year-on-year to 626.1 million baht from 830.1 million baht, as it reported lower operating income and higher expenses.  

The group recorded an 8.4% drop in operating income and an 11.8% increase in operating expenses. The effects of these were partially offset by a 36.9% decline in expected credit loss, according to CIMB Thai president and chief executive officer Paul Wong Chee Kin in a statement. CIMB Group Holdings Bhd has a 94.83% interest in CIMB Thai.

CIMB Thai's 1Q earnings drop 24.6% as operating income falls while opex climbs

DUBAI/JERUSALEM (April 19): Explosions echoed over an Iranian city on Friday in what sources described as an&nbsp;Israeli attack, but Tehran played down the incident and indicated that it had no plans for retaliation — a response that appeared gauged towards averting region-wide war.

Tehran signals no retaliation against Israel after drones attack Iran

KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

KUALA LUMPUR (April 19): Construction company Lim Seong Hai Capital Bhd (LSH Capital) said it has obtained approval from its shareholders to transfer the group’s listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Bhd.

Lim Seong Hai Capital gets shareholder nod for transfer of listing to ACE Market

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 19): M&amp;A Equity Holdings Bhd announced that an individual by the name of Siti Nur Aishah Ishak has become a substantial shareholder of the stockbroking firm, after acquiring a 0.13% stake in the company.

Siti Nur Aishah emerges as substantial shareholder of M&A Equity

SINGAPORE (April 19): CGS-CIMB Securities has officially rebranded as CGS International Securities (CGS International), as the integrated financial services provider launched its new identity in Singapore on Thursday (April 18).&nbsp;

CGS-CIMB Securities rebrands as CGS International, aims to double revenue to S$700 mil by 2030

KUALA LUMPUR (April 19): Fajarbaru Builder Group Bhd said it has secured a RM13.33 million contract to upgrade fire engineering systems at the Kuala Lumpur International Airport’s Terminal 1 satellite building.

Fajarbaru clinches RM13 mil contract from MAHB

KUALA LUMPUR (April 19): Silver Ridge Holdings Bhd said its wholly owned unit is being sued by a subcontractor over alleged outstanding contract payments.

Silver Ridge’s unit slapped with suit over alleged unpaid contract sums

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

KUALA LUMPUR (April 19): Iconic Worldwide Bhd has raised a total of RM95.6 million through its rights issue exercise with free warrants, which was oversubscribed.

Iconic Worldwide’s rights issue oversubscribed, raises RM95.6 mil

The mandatory general offer (MGO) for the remaining 34.1% stake in Pan Malaysia Holdings Bhd (PM Holdings), launched by property developer Exsim Group's founders, the Lim brothers, concluded on Friday with acceptances for only 35,997 shares received.

No change in Lim brothers' stake as Pan Malaysia Holdings' MGO concludes

Prime Minister Datuk Seri Anwar Ibrahim said on Friday he does not want to be dragged into discussions over the purported addendum order on house arrest involving former premier Datuk Seri Najib Tun Razak.

Anwar said this was because the matter falls under the jurisdiction of the Federal Territories Pardons Board and also involves the Yang di-Pertuan Agong and the Malay Rulers.

Addendum order issue under Pardons Board's purview, says Anwar

Malaysia’s economic growth will likely pick up pace in the quarters ahead, economists say, though some are cautioning that global uncertainties raise the risk of undershooting the official target for 2024.

This follows the Department of Statistics Malaysia's advanced gross domestic product (GDP) estimate of 3.9% for the first quarter of 2024 (1Q2024).

Malaysia's economy will pick up pace but global uncertainties remain key risks — economists

SINGAPORE (April 19): Wilmar International Ltd’s board of directors has appointed former foreign minister George Yeo as a non-executive and independent director with effect from Friday.

Wilmar appoints former Singapore foreign minister George Yeo as non-executive and independent director

KUALA LUMPUR (April 19): Ten individuals suspected of being involved in the case related to an&nbsp;Israeli man who was charged with possessing bullets and trafficking&nbsp;guns, were rearrested under the Security Offences (Special Measures) Act 2012 (Sosma).

Israeli man’s case: 10 individuals rearrested under Sosma

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Friday due to persistent weakness in the soybean oil market on the Chicago Board of Trade, said a dealer.

Palm oil trader David Ng noted that market sentiment has been influenced by concerns regarding the anticipated surge in output over the coming weeks, which is perceived as exerting pressure on the market

CPO futures end lower due to weaker soybean futures

KUALA LUMPUR (April 19): Proposals for improvement, including efforts to increase the net income rate of civil servants, will be announced by Prime Minister Datuk Seri Anwar Ibrahim at the Labour Day rally to be held later.

Anwar, in his Facebook post, said the Meeting No 3/2024 of the ...

Proposal to improve salary of civil servants to be announced at Labour Day gathering — PM

Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.

Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.

All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.

Chester Tay

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