THE semiconductor industry has been feeling the heat arising from tensions between the US and China, while grappling with worsening consumer demand amid a gloomy global economic outlook. Concerns over the mounting rivalry between the two economic giants prompted South Korea-based Simmtech Holding...

Tech: US-China tensions open door to Simmtech’s diversification to Malaysia

Abrdn PLC  (formerly known as Aberdeen Asset Management PLC) has emerged as CTOS Digital Bhd’s substantial shareholder, after acquiring 120.99 million shares.

The latest purchase puts Abrdn, with a 5.238% stake, as the third largest shareholder in the company, putting it behind Creador and the Employees Provident Fund.

Abrdn emerges as substantial shareholder in CTOS

Here is a brief recap of some corporate announcements that made news on Tuesday (Feb 7) involving MyEG Services Bhd, Hartalega Holdings Bhd, Cypark Resources Bhd, CTOS Digital Bhd, Artroniq Bhd, Tanco Holdings Bhd, SMRT Holdings Bhd, MNRB Holdings Bhd and Kerjaya Prospek Group Bhd.

MyEG, Hartalega, Cypark, CTOS, Artroniq, Tanco, SMRT, MNRB and Kerjaya Prospek

Willowglen MSC Bhd has bagged an RM11.92 million contract from SP PowerAssets Ltd in Singapore for comprehensive maintenance of a fence intrusion detection system.

In a bourse filing, Willowglen said the contract was awarded to its wholly-owned subsidiary, Willowglen Services Pte Ltd.

Willowglen bags contract in Singapore worth RM11.9m

Aemulus Holdings Bhd has slipped into the red with a net loss of RM4.77 million in the first quarter ended Sept 30, 2023 (1QFY2023), compared to a net profit of RM4.53 million a year earlier, dragged down by lower revenue.

The company posted a loss per share of 0.75 sen, against earnings per share of 0.73 sen for 1QFY2022, the automated test equipment (ATE) maker's bourse filing showed.

Aemulus slips into the red in 1Q as revenue drops 47%

IJM Corp Bhd has appointed Lee Chun Fai as its group chief executive officer and managing director with effect from April 1. Lee has been serving as IJM's deputy CEO and deputy MD since April 2015.

IJM names Lee Chun Fai as new CEO and MD

Malaysia Productivity Corporation (MPC) is looking to introduce a wage system based on mutual wealth sharing between employers and employees. Besides boosting productivity, it is also regarded as a long-term solution to fair wages and higher compensation of employees (CE).

Through new wage system, MPC wants to boost compensation of employees

Brewery stock Heineken Malaysia Bhd’s shares hit an all-time high of RM29.50 on Thursday morning after rising by as much as RM1.50 or 5.36% as investors are betting that China’s reopening will bode well for the stock.

In anticipation of the return of Chinese tourists, Heineken topped the gainer list on Bursa Malaysia on Thursday, with a closing price of RM29 — up RM1 or 3.57%, valuing the group at RM8.76 billion

Heineken Malaysia rises to record high and Carlsberg closes up 66 sen on hopes of return of Chinese tourists

Dagang NeXchange Bhd’s (DNeX) subsidiary Innovation Associates Consulting Sdn Bhd (IAC) has bagged a RM4.05 million maintenance contract from the Inland Revenue Board of Malaysia (IRBM).

DNeX’s unit bags maintenance contract from Inland Revenue Board

With the grim outlook for the global economy in 2023, the ability to draw quality investments is essential to providing a buffer against the economic downturn. As the government reviews its tax incentives for investments, The Edge speaks to several companies and trade associations on the incentiv...

Cover Story: Business associations call for simplified process to obtain incentives 

KUALA LUMPUR (April 24): Rakuten Trade said Nationgate Holdings Bhd may extend it upward trajectory after breaking out from its one-month rectangular pattern yesterday.

In a technical view note on Wednesday, the research house said that in view of the stock bouncing off the 20-day expon...

Nationgate may extend upward trajectory, says Rakuten Trade 

KUALA LUMPUR (April 24): RHB Retail Research said Censof Holdings Bhd is observing a technical breakout after climbing above the 26.5 sen immediate resistance on surging trading volume.

In a trading stocks note on Wednesday, the research house said that as such, the bullish momentum may...

Censof observing a technical breakout, says RHB Retail Research 

KUALA LUMPUR (April 24): RHB Retail Research said YBS International Bhd is set to resume its uptrend after climbing above the 80.5 sen immediate resistance, surpassing the 21-day simple moving average line.

In a trading stocks note on Wednesday, the research house said that the bullish ...

YBS International set to resume uptrend, says RHB Retail Research 

MIDF says Axis REIT is strengthening its presence in Bukit Raja.

MORNING CALL: 24/4/24

Mergers and acquisitions (M&A) activities fell to the lowest in a decade in 2023. According to the “Global M&A Report” published by Bain & Co, the total M&A market fell by 15% year on year last year to US$3.2 trillion, the lowest in a decade.

M&A activities hit a low in 2023, pickup expected this year

(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

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

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 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 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

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%

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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

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 

Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

Sarawak eyeing partnership with UK companies to boost semicon capabilities

KOTA KINABALU (April 23): The Kibing Group has successfully exported its inaugural batch of solar glass manufactured in Sabah, totalling 672 tonnes, to Cambodia last Sunday (April 21).&nbsp;

Kibing Group exports 672 tonnes of Sabah’s first batch of solar glass to Cambodia

Inta Bina Group Bhd has bagged a contract worth RM169.67 million to develop a serviced apartment project in Country Heights.

Inta Bina bags RM170m serviced apartment job in Country Heights

(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

IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.

Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.

Wall Street gains on bright earnings, megacaps' support

KOTA KINABALU (April 23):&nbsp;The Sabah government has not imposed state sales tax&nbsp;and the Royal Malaysian Customs Department has also not levied export duties on gold taken out of Sabah to Peninsular Malaysia, the Sabah State Legislative Assembly was told on Tuesday.

No sales tax, export duties on gold taken out of Sabah to peninsula

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

KOTA KINABALU (April 23):&nbsp;A total compensation of RM651 million has been paid to 1,591 landowners and stakeholders involved in the construction of the Pan Borneo Highway project in Sabah.

RM651 mil compensation paid to landowners involved in Sabah’s Pan Borneo Highway

US business activity cooled in April to a four-month low due to weaker demand, while rates of inflation eased slightly even as input prices rose sharply, suggesting some possible relief ahead as the Federal Reserve looks for signs that the economy is ebbing enough to bring inflation down further.

US business activity cools in April; inflation measures mixed 

(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...

Office furniture maker AHB Holdings Bhd’s foray into the electric vehicles (EV) business has encountered a setback as its planned acquisition of a 51% stake in automotive distributor CAF Motor Sdn Bhd was mutually terminated.

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