KUALA LUMPUR (Nov 27): Integrated environmental solutions provider Progressive Impact Corp Bhd has secured a contract from Indonesian state-owned energy company Pertamina Hulu Rokan to provide environmental sampling and laboratory analysis services for 52.53 billion Indonesian rupiah (RM15.73 million).

Progressive Impact secures contract worth RM15.7 mil from Indonesian state-owned energy company

Construction player Widad Group Bhd widened its losses by more than nine times to RM7.65 million in the third quarter ended Sept 30, 2023 (3QFY2023), from a loss of RM836,000 a year ago, mainly due to higher finance cost arising from borrowings made to acquire a concession business.

Widad widens loss by over ninefold in 3Q to RM7.65m

KUALA LUMPUR (Nov 27): Sapura Resources Bhd said it will settle its RM168 million debt with Jurudata Sdn Bhd (JSB) via the issue of redeemable convertible secured loan stocks (RCSLS) in the group, due to its weak cash flow position which makes it difficult to secure bank borrowings.

Sapura Resources to settle RM168 mil debt via issuance of convertible secured loan stocks

Johor-based Guan Chong Bhd, the world’s fourth-largest cocoa grinder, saw its net profit rise 10.1% to RM33.88 million in the third quarter ended Sept 30, 2023 (3QFY2023) from RM30.76 million a year earlier, on higher average selling prices of industrial chocolates and stabilisation of energy prices at lower levels following the Russia-Ukraine tensions last year.

Guan Chong 3Q net profit up 10%, declares two sen dividend

Medical equipment supplier UMediC Group Bhd, which was just listed over a year ago in July 2022, is now planning to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia.

UMediC proposes to transfer listing from ACE to Main Market

Technology solutions provider Microlink Solutions Bhd has recorded a 98.3% decline in its net profit for the second financial quarter ended Sept 30, 2023 (2QFY2024) to RM126,000 from RM7.22 million a year ago, due to lower margin from order fulfilments and progress billings.

Microlink’s 2Q net profit down 98% as margins shrink

Velesto Energy Bhd said the contract between its unit Velesto Drilling Sdn Bhd and Carigali Hess Operating Company Sdn Bhd has been extended for another one year and six months with an estimated contract value of US$74 million (RM346.39 million).

Velesto secures contract extension from Carigali Hess worth US$74m

Sultan Nazrin Muizzuddin Shah has expressed his concerns over the lack of "tact and good manners" among Malaysians, especially leaders in public spaces. He said this could foster animosity and hostility among the rakyat, posing a threat to the nation's peace and harmony.

The Perak ruler said that the use of harsh, obscene, slanderous, abusive and insulting language by certain individuals, often done with pride and arrogance, is disconcerting.

Lack of 'tact and good manners' among Malaysian leaders is disconcerting, says Sultan Nazrin

Melaka-based automotive light-emitting diode (LED) manufacturer D&O Green Technologies Bhd posted a 15.8% increase in its net profit for the third quarter ended Sept 30, 2023 (3QFY2023) to RM18.25 million from RM15.75 million a year earlier on higher revenue and lower net other expense incurred mainly attributable to lower loss on foreign exchange and derivatives.

As a result, earnings per share came in higher at 1.47 sen for 3QFY2023 compared with 1.27 sen for 3QFY2022.

D&O Green Technologies 3Q net profit up 15.8% on higher revenue, lower net other expense

Iris Corp Bhd said it is taking its dispute with the Home Ministry over the cancellation of its contract for the National Integrated Immigration System (NIISe) to arbitration.

The group said its wholly owned subsidiary Iris Information Technology Systems Sdn Bhd (IITS) filed a notice on Friday to refer the dispute to the Asian International Arbitration Centre (AIAC).

Iris takes dispute with Home Ministry over terminated immigration system contract to arbitration

Two earthquakes, the largest a 6.1 magnitude, struck Taiwan's eastern county of Hualien on Saturday, the island's weather administration said, with no immediate reports of damage.

The quakes, within half an hour of each other in the early hours of the morning, shook buildings in the capital, Taipei.

Taiwan rattled by quakes again, no immediate reports of damage

Nomination for the Kuala Kubu Baharu state by-election opened at 9am on Saturday at the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Nomination opens at 9am for Kuala Kubu Baharu by-election

US regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp (FDIC) said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers.

US regulators seize troubled lender Republic First, sell it to Fulton Bank

Apple Inc has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.

Apple intensifies talks with OpenAI for iPhone generative AI features

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak to collaborate with rare earth elements company from South Korea, says MB

Global stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen sank to a 34-year low after the Bank of Japan (BOJ) kept monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

Who pays for anytime EPF withdrawals?

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

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

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

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

KNM Group Bhd said it is seeking court sanction for a new scheme of arrangement with its creditors. The PN17 group is also seeking a further extension of time to submit its regularisation plan.

KNM seeks fresh scheme of arrangement with creditors

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EVENING 5: Five things you need to know today

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

(April 26):&nbsp;HSBC Holdings Plc successfully fought off a London court&nbsp;claim&nbsp;brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co&nbsp;film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUALA LUMPUR (April 26):&nbsp;KPJ Healthcare Bhd, through its premier educational institution&nbsp;KPJ Healthcare University (KPJU),&nbsp;has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise&nbsp;healthcare.

KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

Wall Street rises as Big Tech charges higher

US equity funds registered their fourth successive weekly outflows in the week ended April 24, hit by fading expectations for rate cuts this year.

US equity funds see fourth straight week of outflows amid rate cut reassessment

HULU SELANGOR (April 28): The Ministry of Health (MOH) stands by its decision to amend the Medical Act 1971 (Act 50) to bridge the gap between the parallel pathway programme (PPP) and the local medical degree programme, despite objections from some parties.

Health Ministry stands by decision to amend Medical Act 1971

Global&nbsp;stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen&nbsp;sank to a&nbsp;34-year low after the Bank of Japan (BOJ)&nbsp;kept&nbsp;monetary policy loose.

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp&nbsp;will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel&nbsp;Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

WASHINGTON (April 26):&nbsp;Ukrainian President Volodymyr Zelenskiy called on Friday for additional air defence systems to be sent to Kyiv to help protect against Russian strikes, adding that a pause in US&nbsp;funding had helped Moscow seize the initiative.

Ukraine's Zelenskiy calls for air defence systems as allies meet

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

A weekly round-up of tanker and dry bulk market (April 26, 2024)

Baltic Exchange shipping updates: April 26, 2024

Nomination&nbsp;for the Kuala Kubu Baharu state by-election opened at 9am on Saturday at&nbsp;the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Apple Inc&nbsp;has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.&nbsp;

Emir Zainul

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Emir Zainul

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