Ho Wah Genting Bhd has submitted a research protocol to the Ministry of Health to evaluate the effectiveness of oral polio vaccine as a preventive protection against the SARS-CoV-2 virus.

Ho Wah Genting seeks to evaluate vaccine's effectiveness as protection against Covid-19

Top Glove Corp Bhd has submitted an audit report to the US Customs and Border Protection (CBP), in relation to the alleged the forced labour issue filed against the glove maker.

The report, according to the group, was prepared by an independent consultant and entails virtual interviews of about 1,100 of the company’s migrant and local workers across various locations.

Top Glove submits independent auditor’s report to US Customs over labour issue

Top Glove Corp Bhd has adjusted the exchange price for its US$200 million guaranteed exchangeable bonds (due 2024) to RM2.03 from RM6.10 per share.

This follows the listing today of the group’s two-for-one bonus issue of 5.42 billion new shares, raising the number of issued shares to 8.13 billion from 2.71 billion.

Top Glove adjusts exchange price for bonds to RM2.03 from RM6.10

Fintec Global Bhd is planning a rights issue with free warrants to raise funds to venture into the manufacturing of medical grade nitrile gloves with the initial setting up of a factory with 12 glove-dipping lines, which will cost RM81.9 million.

The proposed rights issue involves the issuance of up to two billion rights shares and 1.6 billion free warrants, on a renounceable basis of five rights shares and four free warrants for every five existing shares held by entitled shareholders at a date to be fixed.

Fintec plans rights issue with free warrants to raise funds for new RM81.9m glove venture

Ageson Bhd said RHB Bank Bhd is suing the group over an RM33 million term loan obtained by its wholly-owned subsidiary Ageson Development Sdn Bhd.

Ageson said it had signed a corporate guarantee and indemnity under which it agreed to pay RHB for the amount owed by Ageson Development.

Ageson sued by RHB over RM33m term loan

Inix Technologies Holdings Bhd is in early talks with parties developing a Covid-19 vaccine, the group said in a bourse filing today.

Inix in early talks with Covid-19 vaccine developers

Malaysia today reported 11 new Covid-19 cases — of which seven were imported and four were domestic transmissions — bringing the total confirmed infections in the country to 9,385, according to the Ministry of Health.

Active cases stood at 165 versus 163 reported yesterday, with nine more Covid-19 patients discharged. This raised total recoveries to 9,092, representing a recovery rate of 96.9%.

Covid-19: Malaysia reports 11 new cases, detects new cluster in Selangor

Former Tabung Haji deputy group chief executive officer Datuk Badlisyah Abdul Ghani has been appointed group CEO of Mara Corp Sdn Bhd.

Mara Corp appoints Badlisyah as new group CEO

Tropicana Corporation Bhd has issued an RM100 million sukuk out of its RM1.5 billion Sukuk Wakalah programme to repay borrowings and defray financing expenses, it said in a bourse filing today.  

“The repayment of existing financing and borrowings is to unencumber the secured properties. The proceeds will also be utilised to defray fees, costs and expenses in relation to the issuance of the sukuk and the Sukuk Wakalah programme,” it said.

Tropicana issues RM100m sukuk to repay borrowings, defray financing expenses

Malaysia's new Covid-19 cases rose to 14 today — of which four were imported and 10 were local transmissions — bringing the total positive cases detected so far to 9,374, according to the Ministry of Health.

Covid-19: Malaysia reports 14 new cases versus four recoveries on Sept 3

Abu Dhabi's largest Islamic bank is in talks to buy a minority stake valued at around US$1.1 billion (RM5.3 billion) in Indonesia's top Islamic lender, Bank Syariah Indonesia, two sources told Reuters, with an aim to tap into a fast-growing market in Southeast Asia.

Abu Dhabi Islamic Bank in talks to buy US$1.1b stake in Indonesian lender — Reuters

WeWork Inc founder Adam Neumann has made a fresh push to buy back the firm even as it seeks hundreds of millions of dollars to emerge from bankruptcy and avoid a sale, FT reported on Thursday.

Adam Neumann moves to buy back WeWork as it seeks funds to exit bankruptcy — FT 

The Philippines' decision to ramp up ties with Japan and the US at a recent summit was a "sovereign choice" for the country, its foreign ministry said on Thursday in response to China's comments opposing the trilateral meeting.

Philippines says decision to strengthen ties with Japan, US a 'sovereign choice'

At this year’s China Development Forum (the highest-level annual meeting between senior Chinese policymakers and top CEOs, current and former policymakers, and academics like me), the discussion focused squarely on the risk of China falling into the dreaded “middle-income trap”. After all, few em...

After The Storm: China confronts the middle-income trap

KUALA LUMPUR (April 18): Food and supplement company OB Holdings Bhd said on Thursday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, to raise funds for expansion.

OB Holdings gets approval for ACE Market IPO, targets listing in 4Q

Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.

Bursa mixed at midday break, key index up

Since its inception in 1944, Kia, the oldest vehicle manufacturer in South Korea, has been a trailblazer in the global automotive industry. From its humble beginnings crafting bicycles and motorcycles, Kia has evolved into a powerhouse within the Hyundai Motor Group.

Revolutionising the road: How Kia is shaping the future of EVs

KUALA LUMPUR (April 18): MIDF Research has maintained a positive outlook on the property sector, as it sees that the landscape for the sector is improving, underpinned by a stable house price index (HPI) outlook, an unchanged overnight policy rate at 3.0%, and a noticeable reduction in residential overhang.

MIDF Research maintains positive outlook on property sector

Finance Minister II Datuk Seri Amir Hamzah Azizan is leading Malaysia's delegation to Washington DC, the US, to attend the 2024 Spring Meetings of the International Monetary Fund (IMF) and World Bank Group (WBG) from April 17-19.

Amir Hamzah leading Malaysian delegation to IMF, World Bank Group spring meetings

KUALA LUMPUR (April 18): Axiata Group Bhd, Malaysia’s largest telecom company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their operations in Sri Lanka through a share swap deal.

Malaysia’s Axiata, Bharti of India to combine Sri Lanka ops

Shares of PIE Industrial Bhd extended its rally to a new all-time high on Thursday, after Kenanga Investment Bank flagged that the electronic services firm has secured a new client that will take up the entirety of its largest facility.

PIE Industrial extends rally to new all-time high as Kenanga flags new client

The Malaysian aviation industry may be badly impacted on passenger traffic and spikes in jet fuel prices if a full-blown war results from escalating geopolitical tensions in the Middle East, according to Maybank Investment Bank Research (Maybank IB).

Malaysia's aviation industry at risk amid full-blown crisis in Middle East — Maybank IB

The race for the “world’s best airport” crown has been a two-horse affair in recent years, with Doha’s Hamad International and Singapore Changi leading the pack.

Singapore loses ‘world’s best airport’ crown to Qatar

Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.

Google fires workers protesting US$1.2b Israeli contract

Feytech Holdings Berhad (Feytech) has entered into an underwriting agreement with TA Securities Holdings Berhad and AmInvestment Bank Berhad (joint underwriters) for the company’s Initial Public Offering (IPO) on the Main Market of Bursa Malaysia Securities Berhad.

Feytech inks underwriting agreement with TA Securities, AmInvestment en route to Main Market IPO  

Apple Inc chief executive officer Tim Cook will meet Singapore’s leader at the tail end of his most extensive Southeast Asia tour in years, searching for new growth markets and manufacturing locations to offset headwinds in China.

Apple CEO to meet Singapore leader to wrap whirlwind Asia tour

President Joe Biden called China “xenophobic” while highlighting the Asian nation’s economic woes, as he sought to make the case for US economic strength during a campaign stop in the swing state of Pennsylvania.

Biden calls China ‘xenophobic’, ramping up 2024 campaign rhetoric

Gold prices may correct amid potential delay in the anticipated rate cuts by the US Federal Reserve, Philip Capital warned on Thursday and advised investors to stop buying Malaysia’s sole gold exchange-traded fund (ETF).

Stop buying gold ETF as prices may correct — Philip Capital

Asian stocks crept higher in a mixed session on Thursday, while the dollar took a breather and bond markets steadied as investors stepped back to assess the interest rate outlook.

Asian stocks mixed as soaring dollar pauses

Research analysts covering IGB Real Estate Investment Trust (IGB REIT) remained sanguine on the stock’s prospects after it reported a 4.79% jump in its net property income (NPI) for the first quarter ended March 31, 2024 (1QFY2024) to RM124.24 million, from RM118.55 million a year earlier, thanks largely to higher rental income.

Analysts remain sanguine on IGB REIT’s prospects going forward

Sin-Kung Logistics Bhd has started taking orders from investors for its initial public offering (IPO) that may raise up to RM39.5 million ahead of its listing on Bursa Malaysia’s ACE Market.

Sin-Kung Logistics launches ACE Market IPO to raise RM39.5 mil

Hong Leong Investment Bank (HLIB) research said Cloudpoint Technology Bhd is well positioned to capitalise the burgeoning demand for cyber security solutions post-passage of the cyber security bill which was passed in Dewan Rakyat on April 3.

HLIB: Cloudpoint well positioned to capitalise burgeoning demand for cyber security solutions

Alphabet-owned Google&nbsp;is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.

Google lays off employees, shifts some roles abroad amid cost cuts

Several Malaysia Airlines and AirAsia flights between Sabah, Sarawak, and Kuala Lumpur International Airport (KLIA) were cancelled on Thursday due to volcanic eruption at Mount Ruang, Indonesia.

Malaysia Airlines, AirAsia cancel flights to Sabah, Sarawak after volcano eruption in Indonesia

The stock market saw its longest losing streak since January as a handful of big techs sold off — despite a slide in bond yields.

S&P 500 suffers its longest slide since January

Bursa Malaysia turned mixed at the midday break on Thursday with the key index ending the morning session in positive territory, in tandem with regional markets, said a dealer.&nbsp;

Federal Reserve Bank of Cleveland president Loretta Mester said monetary policy is in a good place, adding that the central bank shouldn’t be in a hurry to cut interest rates.

Mester says US Fed can hold rates steady, not in a hurry to cut

The ringgit extended Wednesday’s gains to open higher against the US dollar on Thursday as the greenback retreated from multi-month highs after a pullback in US Treasury yields, said an analyst.&nbsp;

Ringgit extends gains against US dollar at opening

China Tianrui Group Cement Co said a sudden drop in its stock last week triggered a margin call involving a major shareholder, explaining the dynamic behind a dramatic plunge that wiped out nearly all of its market value.

Mystery stock crash in China cement maker linked to margin call

KUALA LUMPUR (April 18): Smart Asia Chemical Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd.

Muhammed Ahmad Hamdan

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