Bursa Malaysia Bhd said today RHB Bank Bhd was unable to provide market-making quotes for three DanaInfra exchange traded bonds/sukuk (ETBS) since Monday due to system issues.

Bursa: RHB Bank unable to provide market-making quotes for three DanaInfra ETBS

Share prices of Bursa Malaysia Technology Index constituents including Malaysian Pacific Industries Bhd (MPI) and ViTrox Corp Bhd rose among top gainers in morning trade today after the US’ tech-laden Nasdaq closed up about 4% in overnight transactions as US bond yields fell and as investors bargain-hunted for beaten-down technology stocks.

Bursa-listed tech stocks surge after Nasdaq up

Share prices of Bursa Malaysia Technology Index constituents including Malaysian Pacific Industries Bhd (MPI), ViTrox Corp Bhd and Unisem (M) Bhd fell among top decliners across the exchange in morning trade today after the US’ tech-laden Nasdaq declined over 2% in overnight trade to record a more than 10% drop since its Feb 12 closing high to confirm a correction.

No respite for tech stocks as Nasdaq confirms correction

Bursa Malaysia’s Energy Index, which tracks share prices of oil and gas (O&G) related companies, rose over 5% in morning trade today to become the top percentage gainer among bourse gauges after crude oil prices rose to surpass US$70 (RM285.67) a barrel as investors evaluated a stronger-than-expected US employment report, the decision by OPEC and its allies to not raise oil supply, and news of Yemen's Houthi forces firing drones and missiles at the heart of Saudi Arabia's oil industry.

Bursa Energy Index up the most as crude oil tops US$70 a barrel

Bursa Malaysia’s Technology Index, which tracks share prices of companies including semiconductor manufacturers, fell 3% in morning trade today to become the top percentage decliner among bourse gauges on overnight news the US' tech-laden Nasdaq was down 10% from its February record high as US Federal Reserve (Fed) chair Jerome Powell’s remarks disappointed investors concerned about higher US bond yields.

Bursa Technology Index falls the most after Nasdaq dived into correction mode

The FBM KLCI settled down 8.32 points or 0.52% at 1,580.13 at Bursa Malaysia’s afternoon break today on profit taking and as rising US bond yields dented global shares amid investors' bet on the rise in US inflation due to a Covid-19 vaccine-driven recovery in the world’s largest economy. 

Such inflation sentiment led to expectations of higher US interest rates. In theory, higher interest rates do not bode well for equities.

KLCI falls as rising bond yields spook world shares

MyEG Services Bhd's share price fell more than 4% in morning trade on Bursa Malaysia today amid broader market losses despite the electronic government services specialist proposing a final dividend of 1.7 sen a share and reporting a fourth-quarter and full-year net profit yesterday.

MyEG down 4% despite dividend proposal, profit report

The FBM KLCI settled up 9.03 points or 0.58% at 1,578.90 at Bursa Malaysia's afternoon break today, partly helped by the rise in rubber glove manufacturers' share prices on bargain hunting and as Asian equity indices gained amid Covid-19 vaccine-driven economic recovery hopes.

KLCI up as glove shares rise on bargain hunting; AMMB falls

Dataprep Holdings Bhd’s share price pared gains in morning trade on Bursa Malaysia today after rising over 20% to a record high as investors waited for the IT firm’s reply to Bursa’s unusual market activity (UMA) query.

Bursa queries Dataprep as share price rises to record high

Datuk Fu Ah Kiow has resigned as Star Media Group Bhd chairman today to spend more time with his family, the company said.

Fu Ah Kiow’s sudden resignation as Star Media chairman

The Home Ministry (KDN) has inked 14 contracts with local companies valued at RM2.156 billion in conjunction with the Defence Services Asia (DSA) Exhibition & Conference 2024 and National Security (NATSEC) Asia 2024.

Home Minister Datuk Seri Saifuddin Nasution Ismail said the signing of the contracts is symbolic of the ministry’s continuous efforts for agencies under its purview.

Home Ministry signs 14 contracts with local companies worth over RM2 bil

SINGAPORE (May 8): Local telco operators StarHub and M1 are said to be back to exploring a potential merger of their businesses, according to TMT Finance, citing five sources familiar with the matter.

StarHub, M1 potential merger said to be back on — TMT Finance

The Transport Ministry (MOT) does not reject any strategic partnerships with private parties to provide services for its agencies, but such partnerships needed to be done properly and required official approval.

Its minister, Anthony Loke said the ministry did not want any company to launch or announce any services for government departments suddenly without the knowledge of the ministry itself.

Loke tells BJAK to submit official application for strategic partnership with MOT, JPJ

Intel Corp expects second-quarter revenue to fall below the midpoint of previously issued projections because of a new US ban on chip exports to Huawei Technologies Co.

Intel sees revenue falling below midpoint on US Huawei ban

The Construction Industry Development Board Malaysia (CIDB) has identified several potential collaboration areas in Australia's mining and energy sectors including Technical and Vocational Education and Training (TVET) programmes and labour supply.

CIDB receives significant interest from Australian construction landscape

PUTRAJAYA (May 8): The appointment of the chairman of the Public Service Commission (SPA) will be made after the Conference of Rulers meeting.

Appointment of Public Service Commission chairman to be decided after Conference of Rulers’ meeting — Mohd Zuki

The satellite unit of Elon Musk's SpaceX has secured a permit to operate in Indonesia, the communications minister told Reuters on Wednesday.

SpaceX's unit Starlink secures Indonesia operating permit

Practice Note 17 (PN17) company Ivory Properties Group Bhd (KL:IVORY) said in a Bursa Malaysia filing on Wednesday it had been granted a restraining order by the High Court of Malaya in Penang to restrain all further proceedings against the company including winding up, execution and arbitration from its creditors.

The restraining order, which will last for a period of three months from April 19, 2024, is to enable Ivory Gleneary Sdn Bhd (IGSB), a wholly-owned subsidiary of Ivory Properties, and its creditors to formalise the proposed scheme of arrangement and thus allow for the extension of time to submit the company's regularisation plan in order to get out of the PN17 status.

Ivory Properties gets three-month restraining order to avoid winding up proceedings by creditors

PUTRAJAYA (May 8): The interim report on the crash of two Royal Malaysian Navy (RMN) helicopters that killed 10 officers and personnel on April 23 will be released on Thursday (May 9), said Communications Minister Fahmi Fadzil.

Fahmi: Navy helicopter crash interim report to be released on Thursday

Malaysian conglomerate Axiata Group (KL:AXIATA) and Indonesian group PT Sinar Mas have sought permission from the Indonesian government to merge their telco units, the communications minister told Reuters on Wednesday.

Axiata, Sinar Mas seeking permission for Indonesia telco merger, minister says

Former prime minister Tan Sri Muhyiddin Yassin has been granted a temporary release of his passport to visit a sick family member in Australia.

Sessions Court judge Azura Alwi allowed the Bersatu chief's application and ordered the travel document to be released on Wednesday and for it to be returned to the court on May 28.

Muhyiddin gets temporary release of passport to visit sick family member abroad

Shares in low-cost aviation operators Capital A Bhd (KL:CAPITALA) and AirAsia X Bhd (KL:AAX) rose in early trade on Wednesday, tracking gains at the broader market.

Capital A and AAX active, advance in post-merger trade

Shares in Sime Darby Plantation Bhd [KL: SIMEPLT] rose to their highest in two years following its announcement to develop the Tali Ayer estate in Perak into a green industrial park.

Sime Darby Plantation shares surge to two-year high following proposed solar project in Perak

Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore, Asia's main oil hub, to a joint venture between Indonesian chemicals firm Chandra Asri and Swiss miner and commodities trader Glencore.

Shell to sell Singapore refinery, petchem assets to Chandra Asri and Glencore

Interim liquidators appointed by the Shah Alam High Court pursuant to a petition by Hitachi Ltd to look into the affairs of its wholly-owned Fusiotech Holdings Sdn Bhd are investigating claims of potential diversion of business by Fusionex Malaysia to third parties.

Fusionex liquidators probing alleged diversion of business to third parties

Homegrown information and communications technology (ICT) distributor Vstecs Bhd’s (KL: VSTECS) wholly-owned subsidiary, Vstecs Ku Sdn Bhd, has been picked as Amazon Web Services' (AWS) first distributor in Malaysia.

Amazon Web Services picks Vstecs as first distributor in Malaysia

KUALA LUMPUR (May 8): Petronas Dagangan Bhd (KL:PETDAG) faces a threat from Saudi Aramco’s possible entry into Malaysia’s fuel retailing market, on top of the impending withdrawal of fuel subsidies, CGS International warned.

Petronas Dagangan faces twin share de-rating threats — CGS

KUALA LUMPUR (May 8): Insurer and reinsurer MNRB Holdings Bhd’s (KL:MNRB) net profit more than doubled year-on-year (y-o-y) in the fourth quarter, thanks to lower insurance expenses and higher investment income, sending its shares surging to an all-time high.

MNRB logs record profits from lower insurance expenses, higher investment income

China has extended the visa-free policy for short-term visits to China for Malaysia and 11 other countries until the end of 2025, Xinhua reported, citing Chinese Foreign Ministry spokesperson Lin Jian.

China extends visa-free travel policy for Malaysia until end of 2025

Malaysia’s largest 100 companies added RM175.33 billion to their market value since the start of the year as optimism for a US Federal Reserve rate cut fuelled a broad rally in sectors ranging from technology to utilities.

Malaysia's top 100 stocks add RM175 bil to market cap; more upside for some

Offshore drilling firm Velesto Energy Bhd (KL:VELESTO) is expected to report that its net profit may more than tripled in the first quarter (1Q) from a year earlier with all of its rigs utilised, Maybank Investment Bank said.

Velesto may report strong 1Q results with rigs fully occupied — Maybank IB

The US has revoked licences that allowed companies including Intel and Qualcomm to ship chips used for laptops and handsets to sanctioned Chinese telecoms equipment maker Huawei Technologies, three people familiar with the matter said.

US revokes Intel, Qualcomm's export licences to sell to China's Huawei — Reuters

Communications Minister Fahmi Fadzil said the government is prepared to engage with the US counterparts to understand the details regarding possible sanctions against Malaysian companies.

Govt prepared to engage with US counterparts over possible sanctions — Fahmi

Shares of Bursa Malaysia Bhd (KL:BURSA) extended gains to its highest since March 2021, following news that Malaysian stocks trading in its exchange hit a historical high of RM2 trillion in market capitalisation on Tuesday (May 7).

Bursa Malaysia shares hit fresh three-year high as local equities breach RM2 trillion market cap

Shares of CTOS Digital Bhd (KL:CTOS) tested their highest in nearly two months as analysts flagged a pickup in earnings ahead&nbsp;following the seasonally weaker first-quarter results.

CTOS Digital shares back away two-month high 

A Singapore Air Force F-16 jet crashed during takeoff at a military airbase, the Ministry of Defence said on Wednesday.

Singapore Air Force F-16 fighter jet crashes after takeoff

SYDNEY/HONG KONG/SINGAPORE (May 8): Global private equity investors and asset managers are readying for billions of dollars worth of mergers and acquisitions (M&amp;As) and investments linked to data centres in the Asia Pacific, as the artificial intelligence (AI) boom fuels demand for digital infrastructure.

AI boom set to fuel data centre deals in Asia this year

MNRB Holdings Bhd (KL:MNRB) was Bursa Malaysia’s biggest gainer on Wednesday, after the insurer and reinsurer announced record quarterly and annual net profit for the financial year ended March 31, 2024 (FY2024).

MNRB makes biggest single-day jump after record FY2024 earnings

KUALA LUMPUR (May 8): Go Hub Capital Bhd (KL:GOHUB), a provider of information technology (IT) services catering to the transportation sector, said on Wednesday that it has received approval for its listing on the ACE Market of Bursa Malaysia.&nbsp;

IT services firm Go Hub Capital gets Bursa Malaysia nod for ACE Market listing

The former director and chairman of the board of SRC International Sdn Bhd has slammed Datuk Seri Najib Razak for passing the blame to the board for the misappropriation of RM3.6 billion from the company, saying the accusation was nothing more than an afterthought and without basis.

Chong Jin Hun

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Chong Jin Hun

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