Chemical Company of Malaysia Bhd’s (CCM) share price rose more than 7% in morning trade today after Batu Kawan Bhd announced yesterday the latter’s proposed acquisition of an estimated 56.32% stake in CCM and takeover offer for the remaining CCM shares at RM3.10 each.

Chemical Company of Malaysia rises after Batu Kawan proposes stake buy, takeover offer

“I don’t believe there’s any wrongdoing,” Low Taek Jho, the alleged mastermind behind the 1Malaysia Development Bhd (1MDB) scam, was quoted by Qatari state-owned news channel Al Jazeera as claiming in a series of telephone conversations he had with the former Malaysian government, led by Tun Dr Mahathir Mohamad.

Jho Low claims he merely borrowed billions from 1MDB to buy real estate, yacht, Cristal champagne — report

The FBM KLCI settled up 4.47 points or 0.28% at 1,604.13 before Bursa Malaysia’s afternoon break today as news of Moderna Inc's experimental Covid-19 vaccine’s effectiveness supported global share gains.

After Pfizer, Moderna’s Covid-19 vaccine news offers fillip to stock markets, with KLCI up at noon

FGV Holdings Bhd reported today a third-quarter net profit of RM136.89 million versus a net loss of RM262.41 million a year earlier as the group's financial performance improved largely due to higher crude palm oil price and lower loss at the company's sugar segment.

FGV leaps into 3Q profit on higher CPO price, lower loss at sugar segment

Top Glove Corp Bhd's share price fell as much as RM1.05 or 14.58% to RM6.15 in Bursa Malaysia morning trade today after the rubber glove manufacturer said yesterday it would seek clarification from relevant authorities on the implementation of the Covid-19-driven enhanced movement control order (EMCO) from today to Nov 30 at the group's specific foreign workers' dormitories in Meru, Klang, Selangor.

Top Glove's share price falls as EMCO starts in Klang foreign workers' dormitories

Kumpulan Powernet Bhd’s (KPower) share price rose more than 6% in morning trade on Bursa Malaysia today after the diversified company announced last Friday its proposed split of one existing share into four units besides its planned issuance of up to 150.78 million free warrants.

Kumpulan Powernet rises after announcing share split, issuance of free warrants

The FBM KLCI settled down 3.6 points or 0.23% at 1,587.18 during Bursa Malaysia's afternoon break today as global shares fell with investors evaluating the economic impact from the rising number of Covid-19 cases.

KLCI down on Covid-19 rise; Hong Leong Capital tops Bursa decliner

Hong Leong Capital Bhd (HLCAP) shares opened down 27 sen or 2.95% at RM8.88 today — the financial services company’s first day of trading since a suspension on March 26, 2015.

Hong Leong Capital opens 27 sen down at RM8.88, share trade resumes after suspension since March 2015

The FBM KLCI settled up eight points or 0.51% at 1,578.08 during Bursa Malaysia’s afternoon break today after erasing losses as global investors weigh the prospect of the imminent availability of a Covid-19 vaccine and as they forecast the magnitude of the outbreak’s impact on the world economy.

KLCI climbs 8 points as Bursa volume nears 10 billion securities

Bursa Malaysia’s technology index rose the most in percentage terms in morning trades today among bourse gauges as share prices of technology firms increased in an apparent reaction to the US’ Nasdaq Composite’s 2.01% overnight rise.

Bursa tech stocks rise after Nasdaq overnight gain

(April 24): Goldman Sachs Group Inc. shares rose to a record on Tuesday, eclipsing their previous closing high set more than two years ago.

The investment banking giant reported first-quarter earnings last week that included a massive profit beat, which one analyst heralded as a “near-p...

Goldman Sachs shares rise to notch first record high since 2021

(April 24): 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 decentralized system — an effort he’s championed since 2021.

The three-nanome...

Jack Dorsey’s block finishes development of Bitcoin mining chip

(April 24): International Business Machines Corp. is in advanced talks to acquire software company HashiCorp Inc., according to people with knowledge of the matter.

IBM and HashiCorp could reach an agreement as soon as Wednesday, said the people, who asked not to be identified discussin...

IBM is in advanced talks to acquire software provider HashiCorp

(April 24): Tesla Inc. is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.

The electric-vehicle maker plans to start production on the cheaper cars before the second half of 2025, when it had previously pledged to begi...

Tesla to accelerate launch of cheaper cars after sales miss

(April 24): This was supposed to be the year that Vietnam reaped the benefits from one of its largest natural gas discoveries.

An estimated 150 billion cubic meters of the fuel, enough to power a city the size of Hanoi for decades, was discovered 50 miles (80 kilometers) from Vietnam’s ...

Xi’s armada is winning the battle for energy in South China Sea

SEOUL (April 24): Kim Yo Jong, the powerful sister of North Korean leader Kim Jong Un, said the country will continue to build overwhelming and the strongest military power to protect its sovereignty and regional peace, the North's KCNA news agency reported on Wednesday.

Kim said a seri...

North Korea leader Kim's sister: we will build overwhelming military power

(April 24): U.S. 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.

Tesla kicked off the earnings cycle for technology heavyweights after markets c...

Wall Street closes higher as investors digest earnings, megacap outlook

LONDON (April 24): Ruthless Arsenal threw down the gauntlet in the Premier League title race with a 5-0 thrashing of London rivals Chelsea to roar three points clear at the top of the table on Tuesday.

Any remaining doubts about Arsenal's staying power were answered emphatically as Lean...

Arsenal hammer Chelsea to move three points clear at the top

NEW YORK/LONDON (April 24): Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the U.S. megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.

Treasury yields dipped after data showed U.S. business activity cooled to ...

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

BERLIN (April 24): Prime Minister Rishi Sunak meets German Chancellor Olaf Scholz on Wednesday, a long-awaited trip to Berlin the British leader hopes will deepen security cooperation after he announced London's move to increase defence spending.

The two will announce plans to develop R...

UK’s Sunak hopes to deepen defence ties on trip to Germany

While Sapura Energy Bhd has resolved one key condition of its reset plan, analysts did not change their recommendations on the group, as there is still an arduous journey ahead for the group to address its balance sheet position.

Sapura Energy not out of the woods yet as large debts still in its way

KUALA LUMPUR (April 23): Former Sapura Energy Bhd chief executive officer Tan Sri Shahril Shamsudin has settled his defamation lawsuit against Economics Minister Rafizi Ramli out of court.

Ex-Sapura Energy CEO Shahril settles defamation suit against Rafizi

Construction and engineering contractor Crest Builder Holdings Bhd said it had secured a condominium project valued at RM486 million in Mont Kiara. &nbsp;

The project, awarded by Kiaramas Development Sdn Bhd, involves the construction of three blocks of condominiums with car park podiums in Jalan Desa Kiara.&nbsp;The contract period is 42 months from May 2, according to Crest Builder in a filing with Bursa Malaysia on Tuesday.

Crest Builder bags RM486m condominium project in Mont Kiara

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

KUALA LUMPUR (April 23):&nbsp;The Iskandar Regional Development Authority’s (IRDA) target to achieve&nbsp;cumulative investments of RM636 billion by 2030 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness.

Iskandar Malaysia’s RM636b investment target to help propel country into world's top 30 economies — PM

KomarkCorp Bhd, which lost its defamation suit against The Edge Communications Sdn Bhd in the High Court last month, is appealing against the court's decision, which found that the media company had not defamed it in an article about the manipulation of penny stocks that was published nearly three years ago.

KomarkCorp appeals against High Court's ruling that The Edge did not defame the company

Comfort Gloves Bhd said there was a fire at the glove maker’s newly-built three storey warehouse and packing department in Taiping, Perak on Tuesday morning.

“The cause of the fire and the actual extent of the damage are currently still unknown, pending the completion of police investigations into the fire and issuance of their report,” the group said in a bourse filing.

Comfort Gloves reports fire at new Taiping warehouse

While the opening of The Exchange TRX is anticipated to intensify competition in the malls sector, Pavilion Real Estate Investment Trust (PavREIT) said footfalls at its malls nearby — Pavillion KL and the connected Pavilion Elite — remain unaffected, and they are still enjoying over 95% occupancy rates.

PavREIT says Pavilion KL, Elite's footfalls unaffected by opening of TRX mall

The Malaysian Oil, Gas &amp; Energy Services Council (MOGSC) has called on oil and gas (O&amp;G) stakeholders, especially financial institutions, not to write off O&amp;G services and equipment (OGSE) players in the energy transition agenda, as they still have a role to play.

Don't forget O&G services and equipment players in energy transition agenda, says industry association

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EVENING 5: Five things you need to know today

KUALA LUMPUR (April 23): DXN Holdings Bhd posted a 43.23% rise in net profit to RM79.02 million for its fourth quarter ended Feb 29, 2024 (4QFY2024), from RM55.17 million a year ago, on the back of higher revenue.

Earnings per share rose to 1.59 sen from 1.14 sen, according to the healt...

DXN’s 4Q net profit up 43%, seeks to expand market presence in Brazil

KUALA LUMPUR (April 23): Construction outfit Haily Group Bhd has secured a RM109.5 million contract to undertake the construction and completion of 332 units of double-storey terrace houses in Pontian, Johor.

Haily bags RM109.5 mil housing jobs in Johor from Gadang’s unit

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%

Ramssol Group Bhd, a human capital management (HCM) solutions provider, reported a near doubling of its first quarter profit mainly due to certain projects with higher profit margin and the distributorship of HCM licences.

Ramssol’s 1Q profit doubles as revenue surges on higher sales in Malaysia, Thailand

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

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 

Matrix Concepts Holdings Bhd unveiled the second phase of Resort Villa in Bandar Sri Sendayan, Seremban last Friday (April 19).

Matrix Concepts unveils phase two of Resort Villa

KUALA LUMPUR (April 23): KIP Real Estate Investment Trust (KIP REIT), a trust which mainly manages retail and industrial properties, said its net property income (NPI) for the third quarter rose 10.1% from a year ago, mainly due to stronger performance from its retail properties.

KIP REIT’s 3Q net property income up 10.1%, to double AUM in three years

Petronas Gas Bhd (PetGas) is committed to creating sustainable value from its core businesses while pursuing growth.

This commitment involves securing high-impact projects by leveraging PetGas’&nbsp;core competencies and exploring industry-adjacent opportunities, the group stated in a release on Tuesday, in conjunction with its 41st annual general meeting (AGM).

PetGas stresses commitment to sustainability, announces total dividend of 72 sen per share for 2023

Axis Real Estate Investment Trust (Axis REIT) reported a 39.5% surge in its net trust income for the first quarter ended March 31, 2024 (1QFY2024), attributable to post-development contributions from its Bukit Raja Distribution Centre 2, and new tenancies in its Shah Alam Distribution Centre 3.

Chong Jin Hun

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