Telekom Malaysia Bhd announced today its second quarter net profit fell 20.44% to RM218.59 million from RM274.75 million a year earlier, citing an increase in operating costs which included provisions recognised as part of the group's manpower optimisation initiatives.

TM 2Q net profit falls year-on-year to RM219m, pays seven sen dividend

Prime Minister Datuk Seri Ismail Sabri Yaakob has continued the practice of his predecessor Tan Sri Muhyiddin Yassin to not appoint a deputy prime minister, and instead has four senior ministers, namely the minister of international trade and industry, minister of defence, minister of works and minister of education, in his Cabinet.

Ismail Sabri announces new Cabinet; Azmin Ali, Tengku Zafrul keep respective portfolios

Following its return to the black in the second quarter, Sime Darby Property Bhd group managing director Datuk Azmir Merican cautioned that a full recovery for the group, as well as the property sector as a whole, may take longer than initially expected.

In a virtual press briefing today, Azmir said Sime Darby Property may still experience some period with loss of revenue — specifically in the third quarter — but will ultimately recover for the whole financial year ending Dec 31, 2021 (FY21).

Recovery may take longer than initially expected, says Sime Darby Property

Malaysia's only licence holder for the distribution of the Sinovac vaccine — Pharmaniaga Bhd — is looking to grow its Covid-19 vaccine business as its main revenue contribution moving forward, as it seeks to expand its presence into Southeast Asian and African markets.

Pharmaniaga looks to grow Covid-19 vaccine business as main revenue contributor, seeks to expand into Southeast Asia and Africa

The largest shareholder of property developer Symphony Life Bhd has called for an upcoming extraordinary general meeting (EGM) scheduled for Sept 23 to vote on the removal of three directors, whom it said it disagrees with on the direction they were taking the company, and to replace them with three others.

Symphony Life's largest shareholder calls for EGM to remove three directors over disagreement on company's direction

KUALA LUMPUR (Aug 25): The hearing of the Inland Revenue Board’s (IRB) appeal against the dismissal of its application for summary judgment to recover RM10.3 million in alleged unpaid taxes from former prime minister Datuk Seri Najib Razak's daughter Nooryana Najwa has been postponed to Dec 15.

Appeal hearing in IRB’s bid to recover unpaid taxes from Najib’s daughter postponed to Dec 15

Former deputy prime minister of Malaysia Tun Musa Hitam has resigned as the chairman of the World Islamic Economic Forum (WIEF) Foundation after holding the post since the beginning of its incorporation in 2006. 

He is replaced by former foreign minister Tan Sri Dr Syed Hamid Albar. However, Musa will continue to head the foundation's International Advisory Panel.

Tun Musa Hitam resigns as WIEF Foundation chairman, replaced by Tan Sri Syed Hamid Albar

The High Court has fixed Oct 27 to deliver its decision on the judicial review application by Semantan Estates (1952) Sdn Bhd against the government over a dispute involving land in Jalan Duta (now Jalan Tuanku Abdul Halim).

Oct 27 fixed for decision on Semantan Estates’ judicial review against government 

PRIME Minister Tan Sri Muhyiddin Yassin is seeking bipartisan support from rival members of parliament (MPs) with promises of significant reforms, including limiting the prime minister’s tenure to two terms, to solve the ongoing political crisis in the country.

In a nationally televised...

Muhyiddin offers olive branch, dangles carrots in front of rival MPs with promises of reforms 

Beijing Urban Construction Group supposedly had an advantage over other bidders in tendering for the Penang undersea tunnel project as it participated in several state government meetings, over a year before the project was eventually awarded to it, the Sessions Court heard today.

Guan Eng trial: Chinese company had advantage over other bidders as its input was included in undersea tunnel RFP, says Penang state official

Indonesia's central bank delivered a surprise rate hike on Wednesday, stepping up efforts to support the rupiah currency against selling linked to global risk aversion and a delay in the expected timing of any US policy easing.

Indonesia's central bank delivers surprise rate rise to support rupiah

Investors rejected Woodside Energy Group Ltd’s climate strategy in an advisory vote as Australia’s largest energy company attempts to trim emissions while also expanding production of oil and natural gas.

Investors revolt on climate as Woodside adds more oil, gas

More to come

Read also:
MB's son among six remanded over document forgery, false claims involving RM600,000
...

Perlis MB knows about son's arrest, leaves it to MACC to investigate

The Bank of Thailand (BOT) has intervened in currency markets at times to ease any excessive moves in the baht while the current policy rate is robust and conducive to economic recovery, central bank officials said on Wednesday.

Thai central bank intervenes to ease baht volatility, says policy rate 'robust'

COLOMBO (April 24): Iran's President Ebrahim Raisi arrived in Sri Lanka on Wednesday for a brief state visit aimed at strengthening ties, during which he will also open a US$514-million hydropower project.

Iran's Raisi arrives in Sri Lanka to foster ties, open hydropower project

In Jalan Rotan in Kampung Attap, Kuala Lumpur, there is a light yellow building with beautiful graffiti art on one wall. Built in 1912 by influential business tycoon Loke Yew, it was restored in recent years and is now the office of master planning, architecture and landscape design consultancy P...

Designworks: Preserving space and land for posterity

PERCEIVED to be in the ­“inner circle” of fugitive financier Low Taek Jho (Jho Low) in the heist of billions of dollars from 1Malaysia Development Bhd (1MDB), the state-owned company’s former general counsel Jasmine Loo Ai Swan recently recalled life on the run. Conditions were uncertain, even pr...

Traversing Indochina and China, Loo negotiated return while on the run in Myanmar 

The US Department of Justice (DOJ) recommended a 36-month prison sentence for Changpeng Zhao, the former chief executive officer of Binance, the world’s largest crypto exchange.

The sentence “will not just send a message to Zhao but also to the world”, the DOJ wrote in a court filing on Tuesday, adding the price for violating US law “must be significant to effectively punish Zhao for his criminal acts and to deter others”.

US seeks three-year prison sentence for ex-Binance CEO Zhao

The Bank of England (BOE) said on Tuesday that very few banks had a clear idea of their "holistic" exposures to private equity, putting them at risk of a "large loss", and set an August deadline to identify how gaps would be filled.

Bank of England tells lenders to get data on private equity or risk 'large loss'

Carlsberg Brewery Malaysia Bhd, the locally-listed unit of the Danish brewer, confirmed the price increases for its beer products starting this month.

Carlsberg Malaysia raises prices of beers to preserve margin

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 24)

Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.

The IPO, priced at 24 sen apiece, involves a public issuance of 102 million new shares as well as an offer for sale of 33 million existing shares, according to its prospectus. All in, the listing offers investors a 30% stake in the Johor-based wholesalers and vegetables distributor.

Farm Price starts taking orders for ACE Market IPO to raise up to RM24.48 mil

Analysts predict a decline in earnings for Malaysian automotive companies in 2024, attributed to lower sales volumes and higher operating costs, coupled with the emergence of several Chinese original equipment manufacturers (OEMs) offering attractive pricing.

M'sian automakers expected to feel pinch from lower sales, higher costs, rise of Chinese OEMs

With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?

What’s next for 5G deployment in Malaysia?

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.

AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.

MyEG inks partnership to launch Hong Kong virtual assets

Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.

NationGate may extend upward trajectory, says Rakuten Trade 

Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;

Telco shares lift Bursa higher at midday

One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.

Malaysia to start using QR code at checkpoints with Singapore, report says

Capital A Bhd’s board of directors has decided to extend Tan Sri Tony Fernandes'&nbsp;tenure as the chief executive officer for another five years, and as a strategic adviser to the airlines business, which is poised to be merged into AirAsia X Bhd.

Fernandes to be CEO of Capital A for another five years

Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.

DXN climbs over one-month high, analysts see positive outlook

Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.

Asian shares jump on tech boost; fragile yen on intervention watch

Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.

Haily shares near all-time high after securing RM109.5m housing job

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

Tesla to accelerate launch of cheaper cars after sales miss

Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.

Bursa opens higher, tracking overnight Wall Street

The Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.

MACC officer did not ask Najib if he instructed controversial transfer of US$700m to Good Star

US 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.

Wall Street closes higher as investors digest earnings, megacap outlook

Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright lands solar supply deal after forming JV company with Doople

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

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

Sunway Putra Hotel Kuala Lumpur marked the commencement of its lobby area refurbishment with a ground-breaking ceremony.

Emir Zainul

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