Mlabs Systems Bhd, which principally engages in the business of research and development of mobile application solutions, has proposed to diversify its business activities to include factoring and related business activities.

Mlabs to diversify into factoring industry

KUALA LUMPUR (May 16): Malaysian Bulk Carriers Bhd (Maybulk) has proposed to undertake an RM275 million capital reduction to eliminate its accumulated losses.

Maybulk plans RM275 mil share capital reduction to offset accumulated losses

KUALA LUMPUR (May 16): YAM Tunku Kamariah Aminah Maimunah Iskandariah Sultan Iskandar, a member of the Johor royal family, has been appointed as a non-executive chairman of AHB Holdings Bhd.

AHB appoints Johor princess as its chairman

KUALA LUMPUR (May 15): Eduspec Holdings Bhd has announced that Datuk Gan Chow Tee has emerged as its substantial shareholder, after acquiring 78.29 million shares through the company’s right issue.

Businessman Gan Chow Tee emerges as a substantial shareholder of Eduspec

KUALA LUMPUR (May 15): Hextar Global Bhd has announced that it has entered into three separate agreements which will result in the group acquiring a chemical trading business whilst divesting its entire interest in its consumer products segment respectively.

This is intended to further streamline the group’s operations to focus on its core chemicals businesses.

Hextar Global to focus on core chemicals business after disposing of consumer product companies

KUALA LUMPUR (May 15): CJ Century Logistics Holdings Bhd has appointed Kim JinMok as its new deputy chief executive director (CEO), succeeding Sung Hyunsup, who has been redesignated to a non-independent and non-executive director of the company.

CJ Century Logistics appoints new deputy CEO

Malaysian Genomics Resource Centre Bhd (MGRC) has inked a strategic cooperation agreement (SCA) with Bangladeshi firm Toticell Ltd for the distribution of its products in Bangladesh.

MGRC inks agreement to distribute products in Bangladesh

Here is a brief recap of some corporate announcements that made news on Friday (May 12) involving Hap Seng Consolidated Bhd, Tomei Consolidated Bhd, Hong Seng Consolidated Bhd, Revenue Group Bhd, CSH Alliance Bhd, Ageson Bhd, Teladan Setia Group Bhd, SFP Tech Holdings Bhd and Kumpulan Kitacon Bhd.

Hap Seng, Tomei, Hong Seng, Revenue Group, CSH Alliance, Ageson, Teladan Setia, SFP Tech and Kumpulan Kitacon

While the Malaysian economy surprised on the upside in the first quarter of the year, economists believe that external headwinds and rising interest rates domestically will likely slow down growth in the coming quarters.

The first quarter number, while outperformed economists' expectations, still could not mask the fact that the economic expansion is slowing down quarter on quarter, as rising interest rates and global economic challenges dragged both domestic and external demand

Stronger than expected 1Q2023 GDP, but global challenges abound clouding outlook

Here is a brief recap of some corporate announcements that made the news on Thursday (May 11) involving Genting Malaysia Bhd, MR DIY Group (M) Bhd, Heineken Malaysia Bhd, Pentamaster Corp Bhd, Bahvest Resources Bhd, Ageson Bhd, UPA Corp Bhd, Bina Darulaman Bhd and Bertam Alliance Bhd.

GenM, MR DIY, Heineken, Pentamaster, Bahvest, Ageson, UPA, Bina Darulaman and Bertam Alliance

MyEG Services Bhd

Target price: RM1.15 ADD

Brokers Digest: Local Equities: MyEG Services Bhd, Mah Sing Group Bhd, Tan Chong Motor Holdings Bhd, Gamuda Bhd 

The two helicopters which collided and crashed at the Royal Malaysian Navy (RMN) Base were undergoing a rehearsal for the third time in conjunction with RMN Fleet Open Day celebration scheduled on Saturday (April 27).

RMN helicopters involved in third rehearsal before incident — Khaled Nordin

High crude oil prices caused by tension in the Middle East will help to boost Malaysia's oil and gas exports. However, escalated fuel prices will dampen the country’s economic growth, according to the Socio-Economic Research Centre (SERC).

SERC: Escalated oil price boon and bane for Malaysia

Indonesian President Joko Widodo and his son, incoming vice-president Gibran Rakabuming Raka, are no longer members of the country's largest party after they backed rival candidate and election winner Prabowo Subianto, a party official said on Tuesday.

Indonesia's biggest party confirms President Jokowi no longer a member after backing Prabowo

Notable filings

During the week of April 1 to 5, notable shareholding changes at Bursa Malaysia-listed companies included those at palm oil mill manufacturer Dolphin International Bhd, which saw Datuk Yeo Boon Leong, who is the executive chairman and ...

Insider Moves: Dolphin International Bhd,  M & A Equity Holdings Bhd, SC Estate Builder Bhd, Tenaga Nasional Bhd, Guan Chong Bhd

Topmix Bhd, a surface decorative company listed on Tuesday, expects its expansion in the northern region of Peninsular Malaysia to boost its earnings growth.

The northern region, particularly Penang, has seen an influx of foreign investors, leading to higher income levels and rapid development of housing and commercial projects, which all “bode well for Topmix’s expansion plans", said managing director Teo Quek Siang.

Topmix eyes northern region for expansion amid development boom

Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.

Eight contractors face possible MyCC fines for bid rigging in tenders worth RM473m

Bursa Malaysia stayed higher at midday on Tuesday, in line with regional bourses’ upbeat performance. 

At 12.30pm, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 5.02 points, or 0.32% to 1,564.61 from Monday's close of 1,559.59.

Bursa stays higher at midday in line with regional peers

AirAsia Consulting is planning further engagement with the International Finance Corporation (IFC), which is mandated to advise the Sri Lanka government on the divestiture of SriLankan Airlines Ltd.

AirAsia Consulting to further engage with IFC on SriLankan Airlines divestiture

Taiwan's quake-hit eastern county of Hualien was rattled by dozens of aftershocks late on Monday and early on Tuesday, but only minor damage was reported and no casualties and major chipmaker TSMC said it saw no impact on operations.

Taiwan rattled by dozens of quakes, but no major damage

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 23)

Ten members of the Royal Malaysian Navy (RMN) were confirmed dead in an incident where two helicopters collided and crashed at the Royal Malaysian Navy (RMN) base in Lumut, Perak on Tuesday morning.

Two helicopters crash in Lumut, 10 confirmed killed — RMN

Shares of Topmix Bhd surged 32% in its trading debut on Tuesday after the surface decorative products company’s initial public offering (IPO) on the ACE Market raised RM31.7 million.

Topmix surges 32% on ACE Market debut

Brazil's government said on Monday that four additional poultry plants have been cleared to sell halal products to Malaysia, a move it hopes will allow exports to the Asian country to double when compared to last year's levels.

Brazil says Malaysia clears four more halal poultry plants for export

Healthcare stocks still have legs to run following the recent rally and investors should continue to buy hospital operators for their further earnings growth this year, analysts said.

KPJ near record high, IHH surges as analysts bet on more upside

Malaysia’s construction tender prices are&nbsp;expected to grow by 3% in 2024, compared to the previous year, driven by various factors such as project type, industry procurement strategy and currency fluctuations, according to a report by global professional services company Turner &amp; Townsend.

Malaysia’s construction tender prices to grow by 3% in 2024, says Turner & Townsend

Investors scaled back safe-haven bets on Monday as worries over a wider Middle East conflict eased, boosting world equities and pressuring gold, oil and bond prices.

Asian shares extend gains ahead of tech earnings, yen fragile

Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.

Former Umno Supreme Council member Hizatul Isham Abdul Jalil or better known as Isham Jalil has offered to make an unreserved apology to bring an end to his contempt of court proceedings.

Ex-Umno leader ready to apologise in contempt of court case

Hong Leong Investment Bank (HLIB) has a “trading buy” rating on SDS Group Bhd and said with 33 of its F&amp;B outlets situated across Johor state, and a wholesale segment that is focusing in this region, SDS appears strategically positioned to leverage the burgeoning vibrancy in Johor, propelled further by the continuous influx of visitors from Singapore.

SDS strategically positioned to leverage burgeoning vibrancy in Johor, says HLIB 

Datin Seri Rosmah Mansor's appeal against her guilty conviction and sentence over all three counts of graft pertaining to the RM1.25 billion solar hybrid project for 369 rural schools in Sarawak will be heard in October.

October hearing for Rosmah's appeal in solar project graft trial

Bursa Malaysia opened higher on Tuesday, taking its cue from Wall Street’s better performance overnight, as sentiment improves after Iran said it will not escalate the conflict with Israel, said an analyst.

Bursa up in early trade, tracking Wall Street overnight

Wall Street stocks ended higher on Monday following a market sell-off in previous sessions as investors eyed a busy week for quarterly results from key companies that would provide a glimpse of the US economy's health.

Wall Street stocks end higher with major corporate earnings in view

Rakuten Trade has a “buy” rating on ACE Market-bound surface decorative products company Topmix Bhd at an initial public offering (IPO) price of 31 sen, with a fair value of 40 sen based on financial year 2024 (FY2024) forecast price-earnings (PE) of 15x, in line with industry peers.

Rakuten Trade values Topmix at 40 sen, expects FY2023-FY2026 earnings to grow at CAGR of 25%

South Korea is emerging as a closely watched weak link in the US$63 trillion (RM298.95 billion) world of shadow banking.

Shadow banking stress in South Korea sends warning to global investors

In Part 1, I outlined three possible scenarios for voter turnout and support for the DAP/PH/unity government candidate in the upcoming by-election in Kuala Kubu Baharu (KKB), out of which there is only one scenario where the incumbent manages to defend the seat. In this concluding part of this article, I will outline some of the likely and desired parameters of contestation during the campaign.

Kuala Kubu Baharu by-election: The challenges for DAP, PH, unity government — Part 2

Malton Bhd has unveiled the final tower (Block B) of River Park, following the successful launch of its previous Tower A and Tower C blocks with more than 70% take-up rate.

Malton unveils River Park's final tower

Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence (AI) chips through resellers, despite the US widening a ban last year on the sale of such technology to China.

China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show

US borrowers on lower incomes are increasingly struggling to keep up with their loan payments, according to recent data and bank executives, prompting banks to become more cautious about dishing out credit cards and car loans.

US consumers on lower incomes face loan stress while banks pull back

RHB Retail Research said Cloudpoint Technology Bhd is eyeing an uptrend movement after rebounding from the immediate support, testing the 64 sen immediate resistance level.

Justin Lim

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