Petroliam Nasional Bhd (Petronas) said its subsidiary PC North Madura II Ltd has made an oil discovery at the Hidayah-1 exploration well, located within the North Madura II Production Sharing Contract (PSC), offshore East Java, Indonesia.

Petronas makes oil discovery offshore East Java in Indonesia

Malaysia's economic outlook is marked as "at risk", Moody's Analytics said today, as the country's Covid-19-driven Movement Control Order, which bars interstate travel, spurs expectation of slower economic and business growth.

Malaysia's economy seen 'at risk' as MCO spurs slowdown bets — Moody’s Analytics

The government’s newly unveiled Malaysia Digital Economy Blueprint (MyDigital) is an overall boost to the prospects of the telecommunications sector, but the visibility of its impact on earnings is yet to be seen.

MyDigital’s execution risk keeps analysts neutral on impact to telecom sector

theedgemarkets.com has highlighted 10 stocks with momentum at Bursa Malaysia’s noon market break. Two displayed positive momentum while the remaining eight displayed negative momentum.

Complete Logistic, Techna-X, Aeon, Ancom, Amanahraya REIT, Avillion, Country Heights, CSC Steel, Only World, Pimpinan Ehsan

Higher provisioning is expected to have a weakening effect on Malaysian banks' profitability in the fourth quarter of 2020 (4Q20), due to be released this week, given the need to cushion the economic and financial shocks from the Covid-19 pandemic.

Banks unlikely to deliver stellar results for 4Q20

theedgemarkets.com has highlighted 12 stocks with momentum at Bursa Malaysia’s noon market break. All displayed negative momentum.

Complete Logistics, ConnectCounty, Kerjaya Prospek, Lee Swee Kiat, Mestron, OCK, Pertama Digital, Perak Transit, Rev Asia, SCH, Tashin, Xian Leng

After being hit by a lower sales volume during the fourth quarter as a result of the conditional movement control order (CMCO), analysts expect the reimposition of the MCO since January to further impact Petronas Dagangan Bhd’s (PetDag) first quarter ending March 31, 2021 (1QFY21).

Analysts expect PetDag’s 1QFY21 to be further impacted by MCO

Malakoff Corp Bhd posted net profit of RM41.64 million in the fourth quarter ended Dec 31, 2020 compared with RM106.41 million last year, marking a 61% drop year on year.

This was primarily attributed to the absence of one-off gain from the disposal of the group’s investment in Malakoff Australia Pty Ltd (MAPL) in December 2019, it said in a statement today

Malakoff posts lower 4Q net profit in absence of one-off disposal gain previously

Amalgamated Industrial Steel Bhd has rebranded itself as Parkwood Holdings Bhd, effective yesterday.

In a statement today, the group said the rebranding provides Parkwood with a new corporate identity to mark its shift from its steel business to the property sector.

Amalgamated Industrial rebrands itself as Parkwood Holdings as it shifts from steel business to property

Petronas Dagangan Bhd's net profit dropped 29.5% to RM89.21 million in the fourth quarter ended Dec 31, 2020 from RM126.59 million previously, as revenue fell 43.6% to RM4.4 billion from RM7.79 billion.

Petronas Dagangan's 4Q profit drops 29.5%, declares lower 17 sen dividend

Singapore will introduce a new law this year that will help so-called gig-economy workers plan for their retirement needs and get work injury protection, Minister for Manpower Tan See Leng said.

Singapore plans law to support gig workers’ retirement needs

Four-cornered fight for Kuala Kubu Baharu state constituency — EC

The nomination centre for the Kuala Kubu Baharu state by-election closed at 10am on Saturday.

The announcement was made by returning officer Yuhanas Auree Kamaruddin at the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Nomination centre for Kuala Kubu Baharu by-election closes at 10am

Alphabet Inc closed decisively above a US$2 trillion (RM9.54 trillion) market capitalisation for the first time on Friday, as a powerhouse earnings report reassured investors that the Google parent would be a major player in artificial intelligence (AI).

Alphabet joins US$2 trillion club as results show AI strength

Candidates contesting the upcoming Kuala Kubu Bharu by-election, a semi-urban seat located in the Hulu Selangor district, have started executing their campaign strategies over the weekend. The by-election is being held following the demise of its incumbent, Lee Kee Hiong from DAP, on March 21 due to cancer.

The Week Ahead: Attention on KKB by-election, FOMC decision, trade data in Asia

Richly valued US stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report.

Lofty US stocks leave investors punishing earnings disappointments

Two earthquakes, the largest a 6.1 magnitude, struck Taiwan's eastern county of Hualien on Saturday, the island's weather administration said, with no immediate reports of damage.

The quakes, within half an hour of each other in the early hours of the morning, shook buildings in the capital, Taipei.

Taiwan rattled by quakes again, no immediate reports of damage

Nomination for the Kuala Kubu Baharu state by-election opened at 9am on Saturday at the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Nomination opens at 9am for Kuala Kubu Baharu by-election

US regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp (FDIC) said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers.

US regulators seize troubled lender Republic First, sell it to Fulton Bank

Apple Inc has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.

Apple intensifies talks with OpenAI for iPhone generative AI features

The creation of Flexible Account 3 for anytime withdrawals from May 11 means Employees Provident Fund (EPF) members can choose to take out up to a third of the balance in their existing Wellbeing Account 2.

Who pays for anytime EPF withdrawals?

Global&nbsp;stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen&nbsp;sank to a&nbsp;34-year low after the Bank of Japan (BOJ)&nbsp;kept&nbsp;monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

More to come
...

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak to collaborate with rare earth elements company from South Korea, says MB

Richly valued US&nbsp;stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report.

Alphabet Inc&nbsp;closed decisively above a US$2 trillion (RM9.54 trillion) market capitalisation for the first time on Friday, as a powerhouse earnings report reassured investors that the Google parent would be a major player in artificial intelligence (AI).

The nomination centre&nbsp;for the Kuala Kubu Baharu state by-election closed at 10am on Saturday.

The announcement was made by returning officer Yuhanas Auree Kamaruddin&nbsp;at the Hulu Selangor Multipurpose Hall and District Sports Complex here.

US&nbsp;regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp (FDIC) said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers.

Candidates contesting the upcoming Kuala Kubu Bharu by-election, a semi-urban seat located in the Hulu Selangor district, have started executing their campaign strategies over the weekend. The by-election is being held following the demise of its incumbent, Lee Kee Hiong from DAP, on March 21 due to cancer.

Nomination&nbsp;for the Kuala Kubu Baharu state by-election opened at 9am on Saturday at&nbsp;the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Apple Inc&nbsp;has renewed discussions with OpenAI about using the start-up’s technology to power some new features coming to the iPhone later this year, according to people familiar with the matter.&nbsp;

Two earthquakes, the largest a 6.1 magnitude, struck Taiwan's eastern county of Hualien on Saturday, the island's weather administration said, with no immediate reports of damage.

The quakes, within half an hour of each other in the early hours of the morning, shook buildings in the capital, Taipei.

Syahirah Syed Jaafar

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Syahirah Syed Jaafar

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