KUALA LUMPUR (Aug 30): IGB Bhd’s net profit more than doubled to RM112.04 million in the second quarter ended June 30, 2023 (2QFY2023), from RM49.79 million a year earlier, on the back of a higher revenue and increased forex gains. Earnings per share rose to 8.30 sen, from 3.68 sen.

IGB’s 2Q net profit more than doubles on higher revenue, increased forex gains

CIMB Group Holdings Bhd’s net profit rose 38.45% to RM1.77 billion for the second quarter ended June 30, 2023 (2QFY2023), from RM1.28 billion a year earlier.

CIMB’s 2Q net profit rises 38% on strong operating income growth, stringent cost controls, declares 17.5 sen dividend 

Leong Hup International Bhd (LHI) posted a 60.58% increase in its net profit to RM65.03 million for the second quarter ended June 30, 2023 (2QFY2023), from RM40.5 million a year earlier, on the back of record revenue due to higher sales volume and selling prices of its poultry products.

Leong Hup's 2Q net profit up 61% on the back of record revenue

Capital A Bhd posted a net profit of RM1.12 billion for the second quarter ended June 30, 2023 (2QFY2023), compared with a net loss of RM931.22 million a year earlier, thanks to the strong recovery in demand from both domestic and international travel.

Capital A's quarterly net profit rises above RM1 bil for first time in over five years  

Glove maker Supermax Corp Bhd posted an annual net loss of RM149.45 million for its financial year ended June 30, 2023 (FY2023), against an annual net profit of RM718.91 million in FY2022, as earnings were weighed by lower sales and average selling price (ASP) for gloves, amid persistent oversupply in the market.

Supermax says meaningful glove market recovery likely in late 2024 as it posts RM150m losses for FY2023

EG Industries Bhd closed its FY2023 with a record high annual net profit of RM38.44 million, triple the RM10.82 million it made in FY2022, as it achieved its highest annual revenue of RM1.35 billion, up 20.97% from RM1.11 billion previously, thanks to a favourable product mix of consumer electronics, 5G wireless access and photonic-modular-related products.

EG Industries wraps up FY2023 with record profit, revenue

Automotive upholstery maker Pecca Group Bhd posted a record annual profit of RM35.4 million in the financial year ended June 30, 2023 (FY2023), surpassing its previous record annual net profit of RM22.85 million in FY2022. The strong earnings were bolstered by higher sales of car seat covers and improved operational efficiency.

Pecca logs third consecutive year of record profit in FY2023 on brisk car sales

In line with measures to liberalise the fund management industry, the Securities Commission Malaysia (SC) has introduced the Foreign Exempt Scheme (FES) framework that provides high-net-worth entities and institutional investors greater onshore access to foreign investment funds.

SC introduces framework that allows high-net-worth entities, institutional investors greater access to foreign investment funds

PPB Group Bhd reported a 70.75% drop in net profit to RM202.81 million for the second quarter ended June 30, 2023 (2QFY2023), from RM693.41 million a year earlier, dragged by lower contribution from its 18.8%-owned Singapore-listed Wilmar International Ltd.

PPB's 2Q net profit falls to two-year low as contribution from Wilmar shrinks 77%

Axiata Group Bhd's net loss widened to RM576.21 million for the second quarter ended June 30, 2023 (2QFY2023), from RM106.38 million a year ago.

Loss per share expanded to 6.30 sen, from 1.20 sen for 2QFY2022, it showed in a local bourse filing on Tuesday.

Axiata posts RM576m losses in 2Q on Ncell write-off, lower Celcom contribution post merger

Dubai Airports Chief Operating Officer (COO), Majed Al Joker announced that Dubai International Airport (DXB) will resume normal operations within 24 hours, signifying a return to its full capacity and regular schedule.

Dubai International Airport set to resume full operations within 24 hours

The remains of the late Tan Sri Joseph Kurup arrived at the Kota Kinabalu International Airport here at 11.20pm on a commercial flight.

The flight which was initially scheduled at 9.15am on Thursday was cancelled due to ash clouds from Mount Ruang’s volcanic eruption in North Sulawesi, Indonesia, engulfing the air space.

Remains of late Joseph Kurup arrive in Kota Kinabalu on Thursday night

FE Green Pet (M) Sdn Bhd’s new high-tech recycling factory is expected to make Melaka a green investment destination and complement the economic growth strategy in the state, said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.

He said with an investment totalling approximately RM958 million, the plant on 14 hectares of land is projected to be completed by 2Q 2025, creating almost 500 jobs.

RM958 mil high-tech recycling factory puts Melaka on green investors map — Ab Rauf

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower for the fifth consecutive day, said palm oil trader David Ng.

He said the weaker soybean oil market and lower crude oil prices continue to pile pressure on prices.

CPO futures end lower for 5th consecutive trading day

The US dollar's dominant reserve currency status is likely to endure partly because even the most talked about alternative the Chinese yuan falls short as a credible challenger, Morgan Stanley said in a report on Thursday.

Rivalry with China, Russia's war in Ukraine, wrangling in Washington over the US debt ceiling and rising debt levels have put the dollar's status as the world's dominant currency under scrutiny in recent years.

Dollar's dominant reserve currency status to endure, says Morgan Stanley

Wall Street's main stock indexes gained on Thursday as investors cheered upbeat earnings across several sectors, while advancing megacap growth stocks were amongst the biggest boosts.

Megacap growth stock Meta Platforms outpaced peers and gained 2.7% after Bernstein raised its price target to US$590, a sixth such hike on the stock this week.

Wall St ticks up on megacaps, earnings boost

Goldman Sachs Group Inc President John Waldron warned that out-of-control spending could expose the US to serious risk in the event of a political crisis.

Goldman’s Waldron sounds alarm over US debt jolt to markets

The head of the International Monetary Fund warned the US that the global economy is closely watching interest rates and industrial policies given the potential spillovers from the world’s biggest economy and reserve currency.

“All eyes are on the US,” Kristalina Georgieva said in an interview on Bloomberg’s Surveillance on Thursday.

IMF boss says ‘all eyes’ on US amid risks to global economy

KUALA LUMPUR (April 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiT...

HeiTech Padu, Axiata, AmanahRaya REIT, AmFirst REIT, RHB Bank, 7-Eleven Malaysia, MBSB, Awantec, MAA Group, UMediC, Systech, Pansar, Auro, Kimlun and AWC

Swiss state prosecutors are seeking long prison terms for two men accused of embezzling US$1.8 billion from 1Malaysia Development Bhd (1MDB) — Saudi-Swiss businessman Tarek Obaid and his Swiss-British business partner Patrick Mahony, the AFP reported.

Swiss prosecutors seek long jail terms for duo in US$1.8bil 1MDB fraud — report

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiTech Padu Bhd, just one month after acquiring a 15.9% stake via a private vehicle in the company.

Amid controversy over govt contracts, Farhash ceases to be HeiTech Padu substantial shareholder after one month

Malaysia Building Society Bhd (MBSB) has recommended a final dividend of 3.5 sen for the financial year ended Dec 31, 2023 (FY2023).

This would equate to a payout of RM287.78 million, based on the bank’s share base of 8.22 billion shares as at end-December 2023, according to MBSB’s bourse filing on Thursday.

MBSB proposes 3.5 sen dividend for FY2023

Digital payment and financial technology provider Ant International is going to establish what it calls a new digital business centre in Malaysia, creating more than 500 job opportunities in the first year, with more hirings in the next four years until 2028.

Ant International to set up new business centre in Malaysia, creating over 500 jobs

Bursa Malaysia continued its upbeat momentum to end higher for the second straight day on Thursday, due to an improvement in sentiment and a resurgence in bargain-hunting following the recent downturn, said an analyst.

Bursa closes higher on improved sentiment, bargain hunting

KUALA LUMPUR (April 18): IT services firm Systech Bhd said on Thursday that shareholders have approved several proposals, including an acquisition and bonus shares issue.

Systech gets shareholders’ nod for acquisition, bonus shares issue

KUALA LUMPUR (April 18): AwanBiru Technology Bhd (Awantec) said trading in its shares will be suspended from April 26, after the group failed to submit its regularisation plan to the regulators for approval within the stipulated timeframe.

Awantec faces trading suspension from April 26 after failing to submit regularisation plan

After spending over two years in court due to a suit from Empire Holdings Ltd, MAA Group Bhd, its major shareholder Tunku Datuk Yaacob Khyra and Turiya Bhd have been dropped as parties in the suit over MAA’s purchase of Turiya shares from a Bahrain-based bank. &nbsp;

MAA Group exits legal bout over 2021 Turiya share acquisition under settlement deal

Malaysia’s current tallest building, the Merdeka 118 tower, has been awarded the Leadership in Energy and Environmental Design (LEED) Platinum certification in the LEED v2009 Core and Shell rating system, marking it as the first megatall building in the country to achieve it, according to a press statement on Thursday.&nbsp;

Merdeka 118 first megatall building in Malaysia to get LEED Platinum certification

Australia brought 23 companies seeking investment in maritime decarbonisation and renewable energy (RE) sectors to Malaysia as part of the Australia-Southeast Asia Business Exchange programme.

Australia brings 23 firms looking to invest in maritime decarbonisation, RE sectors in Malaysia

Pansar Bhd has secured a contract worth RM269.1 million to upgrade the capacity of a water treatment plant in Sibu, Sarawak.

The construction and infrastructure outfit secured the job from Lembaga Air Sibu via an open tender, through its wholly owned Perbena Emas Sdn Bhd.

Pansar bags RM269m job to upgrade water treatment plant in Sarawak

High-impact projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) and&nbsp;Special Financial Zone&nbsp;(SFZ) in Forest City can spur Johor’s economy to outpace that&nbsp;of other states in the next one to two years, said Prime Minister Datuk Seri Anwar Ibrahim.

Special economic, financial zones can help Johor surpass other states economically, says Anwar

A former technician was brought before the Sessions Court again here on Thursday on a charge of posting offensive messages insulting Islam on his Facebook account in&nbsp;March, regarding the sale of stockings bearing the word 'Allah'.

'Allah' socks insults: Former technician brought before Sessions Court again

KUALA LUMPUR (April 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiT...

Engineering services provider AWC Bhd has bagged two contracts worth a total of RM19.39 million for plumbing works at Hospital Kapar in Selangor and a data centre in Cyberjaya.

In a statement on Thursday, AWC said the Hospital Kapar job was awarded to its wholly-owned subsidiary Qudotech Sdn Bhd by the project's main contractor, IJM Corp Bhd's unit IJM Construction Sdn Bhd.

AWC secures plumbing jobs at Hospital Kapar and Cyberjaya data centre

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EVENING 5: Five things you need to know today

Bursa Malaysia Securities Bhd has approved the transfer of UMediC Group Bhd’s listing status from the ACE Market to the Main Market, under the 'health care'&nbsp;sector.

Bursa approves UMediC’s transfer to Main Market

The developer of the&nbsp;Petaling Jaya Dispersal Link (PJD Link) expressway will receive an official letter soon, notifying it of the cancellation of the construction project.

PJD Link developer to get official letter soon on cancellation, says Nanta

KUALA LUMPUR (April 18): Global video game commerce company Xsolla, Inc has collaborated with Curine Ventures to launch the Xsolla Curine Academy (XCA) in KL Eco City.

Xsolla Curine Academy launched to foster growth in game development industry

Scam calls received by Malaysian users have more than doubled in 2023 compared to 2022, according to TrustTech service provider Gogolook.

In a statement on Thursday, Gogolook said its digital anti-fraud tool Whoscall had identified 1.63 million scam calls received by Malaysian users in 2023, representing an increase of 100.92% from over 812,000 calls in 2022.

Scam calls received by Malaysians doubled in 2023 — Whoscall report

The allocations that the government has agreed to consider extending to elected representatives from the opposition are subject to terms and conditions, said DAP Parliament chief whip Nga Kor Ming.

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