KUALA LUMPUR (Aug 28): The Malaysian Anti-Corruption Commission (MACC) has today arrested Datuk Hasanah Abdul Hamid, the former director-general of Malaysian External Intelligence Organisation (MEIO) who wrote a controversial letter to the Central Intelligence Agency (CIA) seeking the US support ...

MACC arrests ex-intel chief Hasanah for alleged misappropriation of election funds – source

KUALA LUMPUR (Aug 28): Keretapi Tanah Melayu Bhd (KTMB) announced it has registered a pre-tax profit of RM4.5 million in financial year ended Dec 31, 2017 (FY17), as compared with a targeted RM3.8 million, which was 18.4% higher.

In a statement today, KTMB said the achievement came amid...

KTMB upbeat on prospects after turning its first profit in 20 years

KUALA LUMPUR (Aug 28): FGV Holdings Bhd revealed yesterday that forensic investigations into six transactions and investment decisions undertaken previously had exposed the group to significant financial loss.

Out of the six transactions, FGV said the forensic investigators have complet...

FGV seeks advice on possible legal recourse as forensic probe reveals 'adverse findings'

KUALA LUMPUR (Aug 28): FGV Holdings Bhd slipped into the red in the second quarter ended June 30, 2018 (2QFY18), with a net loss of RM23.23 million, compared with a net profit of RM37.26 million a year ago. 

Quarterly revenue dropped 18.42% to RM3.44 billion, from RM4.21 billion pr...

FGV slips into the red in 2Q, sees challenging outlook ahead

KUALA LUMPUR (Aug 28): Datuk Seri Dr Ismail Bakar, the current Treasury Secretary-General, has been appointed as the new and 14th Chief Secretary to the government, effective tomorrow.

Ismail replaces Tan Sri Dr Ali Hamsa, who held the post since 2012 and is due for retirement tomorrow....

Ismail Bakar named as new Chief Secretary to govt

KUALA LUMPUR (Aug 28): Loss-making Watta Holding Bhd, whose share price jumped to a record high of 74.5 sen during yesterday's trading, said today its deputy group executive chairman and chief executive officer Datuk Lee Foo San was "exploring certain corporate proposals previously[,] which had b...

Watta says CEO exploring certain proposals previously

KUALA LUMPUR (Aug 28): UEM Sunrise Bhd posted a second quarter net profit of RM213.79 million from a net loss of RM9.84 million a year earlier, on contribution from land sales, projects' development cost savings and lower operating expenses.

Property developer UEM Sunrise said in a fili...

UEM Sunrise 2Q net profit at RM214m, revenue up at RM573m

KUALA LUMPUR: Malaysian Rating Corp Bhd (MARC) is of the view that the downside of the ringgit would be capped by strong economic fundamentals in the medium term.

“The fact that the ringgit remains below one standard deviation from its long-term mean also suggests that its downside coul...

‘Ringgit’s medium-term downside capped by strong economic fundamentals’

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KUALA LUMPUR: The government is aware of and knows the whereabouts of businessman-turned-fugitive Low Taek Jho, or better known as Jho Low, who has been linked to the financial tro...

Daim: The government knows where Jho Low is

KUALA LUMPUR: The Council of Eminent Persons (CEP) has completed its mandate to provide the government with advice on the nation’s economic and institutional reforms, said its chairman Tun Daim Zainuddin.

Daim, however, does not discount the possibility that the CEP’s tenure will be ext...

CEP fulfils mandate, may have future role

AmanahRaya Real Estate Investment Trust (REIT), which mainly manages commercial properties, is aiming to achieve a portfolio occupancy rate of at least 90% by the financial year ending Dec 31, 2025 (FY2025).

AmanahRaya REIT aims to raise occupancy rate to 90% by end-2025

Hong Kong Exchanges and Clearing (HKEX) will develop an in-house derivatives platform that will offer 24-hour trading and new products as it aims to boost its standing as a financial hub, the bourse operator said on Thursday.

Bourse operator HKEX to develop new derivatives platform to bolster investments

WHILE Malaysia-listed companies were seen to be improving their balance sheet position in 2023, the number of perpetual bond issuances rose during the year, data compiled by The Edge show.

At least 28 public-listed companies have outstanding perpetual bonds — also known as perpetuals or...

Cover Story: Perpetual bonds still garnering interest     

Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.

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

KUALA LUMPUR (April 18): Malaysian civil society group Bersih, or the Coalition for Clean and Fair Elections, has criticised the Attorney General’s Chambers (AGC) for not objecting to former prime minister Datuk Seri Najib Razak’s application to bar the media from covering his judicial review leave application, where he sought to be placed under house arrest for the duration of his jail sentence.

Bersih criticises AGC for not objecting to media ban in Najib’s house arrest bid

Huawei Technologies Co released its latest series of smartphones on Thursday, sustaining its momentum after the breakthrough Mate 60 device helped erode Apple Inc.’s dominance in China’s high-end segment.

Huawei unveils new phone lineup to ramp up pressure on Apple

THE last few years have seen multiple challenges that tested the financial resilience of companies, from Covid-19 to the post-pandemic commodity and inflation shocks, which in turn spurred interest rate hikes that indirectly skewed global currency exchange trends.

The surprising good ne...

Cover Story: More PLCs have stronger balance sheets than before pandemic

Taiwanese chipmaker TSMC posted a 9% rise in first-quarter net profit on Thursday that beat market expectations as it rides a wave of demand for semiconductors used in artificial intelligence applications.

TSMC's first quarter profit rises 9%, beats forecasts

The concessionaire of the Petaling Jaya Dispersal Link (PJD Link) highway believes the project remains viable and will continue to pursue its realisation.

PJD Link concessionaire says project remains viable, studying realignment

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

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

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

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

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

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

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

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

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

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;

Bursa mixed at midday break, key index up

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.

Smart Asia Chemical inks underwriting agreement with Mercury Securities en route to ACE Market IPO

Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, and India’s Bharti Airtel Ltd signed a definitive agreement on Thursday to combine their Sri Lankan operations.

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

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.

Sulhi Azman

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