TDM Bhd's share price rose to its highest in over three years on Thursday amid growing market valuation ascribed to healthcare-related businesses, particularly after the RM5.7 billion disposal of Ramsay Sime Darby Health Care Sdn Bhd (RSDH) to Columbia Asia Healthcare Sdn Bhd.

Sudden spike in buying interest lifts TDM to three-year high in active trade

Petroliam Nasional Bhd (Petronas) is working with Japan power generation company Jera Co Inc to evaluate the feasibility of the entire carbon capture and storage (CCS) value chain including separation and capture of carbon dioxide (CO2).

Petronas explores potential tie-up with Japan’s Jera on carbon capture, storage value chain

Malaysia’s progress in realising RM46.1 billion or nearly one-third of the total RM152 billion approved investments for the manufacturing sector in 2023 is deemed to be reasonable, given that it typically takes between 18 and 24 months to implement, according to economists.

The Ministry of Investment, Trade and Industry (Miti) has also been improving its information tracking system over the years to ensure that agencies like the Malaysian Investment Development Authority (Mida) is capable of providing timely assistance to businesses in implementing their capital expenditure in the manufacturing sector, Socio-Economic Research Centre (SERC) executive director Lee Heng Guie told The Edge.

Economists deem 30% realisation of approved investments in manufacturing sector in 2023 reasonable

Malaysia saw a total of RM152 billion approved investments for the manufacturing sector in 2023, of which RM46.1 billion were realised last year, involving 445 projects, according to the Ministry of Investment, Trade and Industry (Miti).

Nearly one-third of 2023 approved investment in manufacturing sector realised, says Miti

The Department of Statistics Malaysia (DOSM) said it is “reckless” to state that the Central Database Hub (Padu) was developed using outdated methods, as details of its system and architecture were not disclosed to the public.

‘Reckless’ to say Padu developed using outdated methods, says DOSM

The government has offered Gamuda’s 60%-owned SRS Consortium Sdn Bhd civil works contracts on the first segment of the Penang Light Rail Transit (Penang LRT) and hopes to conclude talks with the company within six months.

Govt offers Gamuda’s 60%-owned SRS Consortium works on first segment of Penang LRT

KNM Group Bhd has signed a share purchase agreement with two buyers to sell its wholly-owned unit FBM Hudson Italiana SpA, a heat exchanger and high-pressure equipment manufacturer.

Under the agreement, both buyers, namely BM Carpenterie Oil & Gas Srl and Officine Piccoli SpA, will take over the 11.5 million euro loans that FBM Hudson owes to KNM as settlement for sale consideration.

KNM signs agreement to sell Italian unit for 16.5 mil euros, of which 11.5 mil to be settled in annual instalments over 10 years

Computer Forms (M) Bhd said its shareholders rejected a motion to re-elect executive director (ED) Pang Nan Yew at the company’s annual general meeting (AGM) on Wednesday.

Accordingly, Pang is deemed to have retired from the group’s board, the printing and packaging solutions provider said in a stock exchange filing.

Computer Forms shareholders reject re-election of executive director at AGM

Marine & General Bhd (M&G) sold its oil products tanker, JM Sutera 5, to Kalianda Permata Transport Pte Ltd for US$5.55 million (about RM26.21 million), to partly finance its fleet optimisation strategy.

Marine & General sells another vessel, to reinvest in new chemical tankers

A KK Mart outlet situated in Bidor, Perak was hit by a petrol bomb Tuesday morning, according to a report by China Press. The petrol bomb landed on the sidewalk of the shop lot without igniting.

Petrol bomb hurled at KK Mart in Bidor — report

AmanahRaya Real Estate Investment Trust (REIT), which mainly manages commercial properties, is aiming to achieve a portfolio occupancy rate of at least 90% by the financial year ending Dec 31, 2025 (FY2025).

AmanahRaya REIT aims to raise occupancy rate to 90% by end-2025

Hong Kong Exchanges and Clearing (HKEX) will develop an in-house derivatives platform that will offer 24-hour trading and new products as it aims to boost its standing as a financial hub, the bourse operator said on Thursday.

Bourse operator HKEX to develop new derivatives platform to bolster investments

WHILE Malaysia-listed companies were seen to be improving their balance sheet position in 2023, the number of perpetual bond issuances rose during the year, data compiled by The Edge show.

At least 28 public-listed companies have outstanding perpetual bonds — also known as perpetuals or...

Cover Story: Perpetual bonds still garnering interest     

Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.

Malaysia’s Axiata, Bharti Airtel of India to combine Sri Lankan ops

KUALA LUMPUR (April 18): Malaysian civil society group Bersih, or the Coalition for Clean and Fair Elections, has criticised the Attorney General’s Chambers (AGC) for not objecting to former prime minister Datuk Seri Najib Razak’s application to bar the media from covering his judicial review leave application, where he sought to be placed under house arrest for the duration of his jail sentence.

Bersih criticises AGC for not objecting to media ban in Najib’s house arrest bid

Huawei Technologies Co released its latest series of smartphones on Thursday, sustaining its momentum after the breakthrough Mate 60 device helped erode Apple Inc.’s dominance in China’s high-end segment.

Huawei unveils new phone lineup to ramp up pressure on Apple

THE last few years have seen multiple challenges that tested the financial resilience of companies, from Covid-19 to the post-pandemic commodity and inflation shocks, which in turn spurred interest rate hikes that indirectly skewed global currency exchange trends.

The surprising good ne...

Cover Story: More PLCs have stronger balance sheets than before pandemic

Taiwanese chipmaker TSMC posted a 9% rise in first-quarter net profit on Thursday that beat market expectations as it rides a wave of demand for semiconductors used in artificial intelligence applications.

TSMC's first quarter profit rises 9%, beats forecasts

The concessionaire of the Petaling Jaya Dispersal Link (PJD Link) highway believes the project remains viable and will continue to pursue its realisation.

PJD Link concessionaire says project remains viable, studying realignment

Abu Dhabi's largest Islamic bank is in talks to buy a minority stake valued at around US$1.1 billion (RM5.3 billion) in Indonesia's top Islamic lender, Bank Syariah Indonesia, two sources told Reuters, with an aim to tap into a fast-growing market in Southeast Asia.

Abu Dhabi Islamic Bank in talks to buy US$1.1b stake in Indonesian lender — Reuters

Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.

PIE Industrial extends rally to new all-time high as Kenanga flags new client

The Malaysian aviation industry may be badly impacted on passenger traffic and spikes in jet fuel prices if a full-blown war results from escalating geopolitical tensions in the Middle East, according to Maybank Investment Bank Research (Maybank IB).

Malaysia's aviation industry at risk amid full-blown crisis in Middle East — Maybank IB

The race for the “world’s best airport” crown has been a two-horse affair in recent years, with Doha’s Hamad International and Singapore Changi leading the pack.

Singapore loses ‘world’s best airport’ crown to Qatar

Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.

Google fires workers protesting US$1.2b Israeli contract

Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.

Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO  

Apple Inc chief executive officer Tim Cook will meet Singapore’s leader at the tail end of his most extensive Southeast Asia tour in years, searching for new growth markets and manufacturing locations to offset headwinds in China.

Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.

Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

Several Malaysia Airlines and AirAsia flights between Sabah, Sarawak, and Kuala Lumpur International Airport (KLIA) were cancelled on Thursday due to volcanic eruption at Mount Ruang, Indonesia.

Malaysia Airlines, AirAsia cancel flights to Sabah, Sarawak after volcano eruption in Indonesia

Gold prices may correct amid potential delay in the anticipated rate cuts by the US Federal Reserve, Philip Capital warned on Thursday and advised investors to stop buying Malaysia’s sole gold exchange-traded fund (ETF).

Stop buying gold ETF as prices may correct — Philip Capital

Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.

Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

Research analysts covering IGB Real Estate Investment Trust (IGB REIT) remained sanguine on the stock’s prospects after it reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31, 2024 (1QFY2024) to RM124.24 million, from RM118.55 million a year earlier, thanks largely to higher rental income.

Analysts remain sanguine on IGB REIT’s prospects going forward

Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.

HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook.

Asian stocks mixed as soaring dollar pauses

Alphabet-owned Google&nbsp;is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.

Google lays off employees, shifts some roles abroad amid cost cuts

The stock market saw its longest losing streak since January as a handful of big techs sold off — despite a slide in bond yields.

S&P 500 suffers its longest slide since January

Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.&nbsp;

Bursa mixed at midday break, key index up

KUALA LUMPUR (April 18): Smart Asia Chemical Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

Smart Asia Chemical inks underwriting agreement with Mercury Securities en route to ACE Market IPO

Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.

Federal Reserve Bank of Cleveland president Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.

Mester says US Fed can hold rates steady, not in a hurry to cut

China Tianrui Group Cement Co said a sudden drop in its stock last week triggered a margin call involving a major shareholder, explaining the dynamic behind a dramatic plunge that wiped out nearly all of its market value.

Chester Tay

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