HSBC is forecasting the ringgit to end the year at 3.96 against the US dollar, noting that a marginal strengthening in currency is expected to be seen across the board in Asia.

At the time of writing, the ringgit was at 4.04 against the greenback.

Marginal strengthening seen in Asian currencies including ringgit this year — HSBC

While the state of emergency announcement came as a surprise to the market today, Affin Hwang Asset Management (Affin Hwang AM) sees it as a positive as it removes the political overhang in the country temporarily, to allow the focus to shift towards containing the spread of Covid-19, amid a resurgence in cases.

Emergency declaration a surprise, but will enable govt to focus on containing pandemic — Affin Hwang AM

Malaysia reported today its highest daily number of newly confirmed Covid-19 infected individuals at 3,309, which brought the nation's total number of Covid-19 cases to 141,533 so far while the cumulative figure of active cases stood at 30,390.

Covid-19: Malaysia records highest number of daily cases at 3,309; active infections top 30,000

KUALA LUMPUR (Jan 12): There are 11 new Covid-19 infections clusters with a total of 279 cases identified, according to Health director-general Tan Sri Dr Noor Hisham Abdullah. Five of these clusters are linked to workplaces.

The five workplace-linked clusters are: Jalan Manan (83 cases) and Persiaran Kuala (44) in Klang, Selangor; Udarama (21) and Iris (11) in Lembah Pantai, Kuala Lumpur; and Jalan Kiara (22) in Kepong and Cheras, also in Kuala Lumpur.

11 new Covid-19 clusters identified in the past 24 hours, with five linked to workplaces

Controlling shareholder Wong Thean Soon — better known as TS Wong — has bought 749,600 shares in My EG Services Bhd (MyEG) yesterday, while the company has bought back two million worth of its shares on the same day.

Controlling shareholder TS Wong, MyEG mop up more shares

Hap Seng Consolidated Bhd is buying three adjoining parcels of industrial land with buildings in Labuan for a total of RM205.25 million.

“The proposed acquisition in the Federal Territory of Labuan represents a long-term strategic investment opportunity of a servicing centre supporting the offshore oil and gas industry in the region,” said Hap Seng Consolidated in a filing to Bursa Malaysia yesterday.

Hap Seng Consolidated buys three parcels of land in Labuan for RM205m

Malaysia today saw 2,451 new Covid-19 cases, while total active cases rose to a fresh peak of 26,185.

Since Tuesday, today was the fifth consecutive day with more than 2,000 new cases reported.

Covid-19: Malaysia sees 2,451 new infections; active cases surge to record high beyond 26,000

KUALA LUMPUR (Jan 10): Malaysia today saw 2,433 new Covid-19 cases, with total active cases rising to a new high of 27,332.

This is the sixth consecutive day, with more than 2,000 new cases.

Covid-19: Malaysia reports 2,433 new cases, active cases surge to new high beyond 27,000

KUALA LUMPUR (Jan 10): Another five new clusters have been detected today — namely Tapak Bina Cyber cluster, Texmile cluster, Jalan Sibuga cluster, Alor Durian cluster and Wakaf Lanas cluster — with 123 infections reported, according to Ministry of Health (MoH) director-general Tan Sri Dr Noor Hisham Abdullah.

In a statement today, he said the Tapak Bina Cyber cluster, which involves the districts of Sepang, Petaling, Klang and Hulu Langat in Selangor, is the new cluster with the highest number of new infections at 67 cases. This cluster is from a construction site and 140 individuals that have been tested.

Covid-19: Another five new clusters detected, while seven clusters ended

KUALA LUMPUR (Jan 10): Few may pay much attention to Genting Bhd's life-sciences division. However, the biotech unit could be reaping its fruits via listing, after it merges with NASDAQ-listed GX Acquisition Corp to form a special purpose acquisition company (SPAC) in an attempt to create a publicly-listed leader in allogeneic cellular therapy.

This would also represent the first major monetisation in Genting’s life-sciences division.

Genting unlocks value of life science division via potential listing of SPAC

The Ministry of Energy Transition and Water Transformation (Petra), in collaboration with The National Water Services Commission (SPAN), is poised to establish and devise the framework for implementing transformative measures in the water services sector over the next decade.

Fadillah: Petra, SPAN to drive implementation of transformative measures for water services sector

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

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

KOTA BHARU (April 23): The man involved in the shooting incident at the Kuala Lumpur International Airport (KLIA) in Sepang on April 14 will be charged in a Kota Bharu court on Wednesday (April 24), according to the police.

KLIA shooting suspect to be charged in Kota Bharu on Wednesday

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

Malaysia's education system must be synonymous with the development of the country, said Higher Education Minister Datuk Seri Zambry Abd Kadir.

Zambry: Education system must be synonymous with country’s development

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

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 

BENGALURU (April 23): Gold prices extended losses for a second day to hit a more than two-week low on Tuesday, as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of key US economic data this week.

Gold drifts lower for second day as Middle East fears subside

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

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 23)

Moomoo Malaysia, an online trading platform, garnered 100,000 clients within six weeks of its launch, making it one of the most downloaded financial mobile applications in Malaysia.&nbsp;

Moomoo Malaysia surpassed 100,000 clients within six weeks of its debut in Malaysia

While Sapura Energy Bhd has resolved one key condition of its reset plan, analysts did not change their recommendations on the group, as there is still an arduous journey ahead for the group to address its balance sheet position.

Sapura Energy not out of the woods yet as large debts still in its way

KUALA LUMPUR (April 23): Malaysia has emerged as the most significant country within Asean for businesses to venture into, as shown by the UOB Business Outlook Study 2024 (SMEs &amp; Large Enterprises).

Malaysia emerges as prime destination for Asean biz expansion — UOB study

KUALA LUMPUR (April 23): Former Sapura Energy Bhd chief executive officer Tan Sri Shahril Shamsudin has settled his defamation lawsuit against Economics Minister Rafizi Ramli out of court.

Ex-Sapura Energy CEO Shahril settles defamation suit against Rafizi

Cypark Resources Bhd said on Tuesday that its 100MW Large Scale Solar 3 (LSS3) hybrid solar plant project in Merchang, Terengganu, will transition to full commercial operations by next month.

In a statement, the group said the plant consists of 83MWac (megawatt, alternating current) ground-mounted solar photovoltaics and 32MWac floating solar photovoltaics.

Cypark's LSS3 solar plant in Terengganu set for commercial operations next month

Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday, thanks to buying from local and foreign institutions, said an analyst.&nbsp;

Bursa ends higher on buying support from local and foreign institutions

Construction and engineering contractor Crest Builder Holdings Bhd said it had secured a condominium project valued at RM486 million in Mont Kiara. &nbsp;

The project, awarded by Kiaramas Development Sdn Bhd, involves the construction of three blocks of condominiums with car park podiums in Jalan Desa Kiara.&nbsp;The contract period is 42 months from May 2, according to Crest Builder in a filing with Bursa Malaysia on Tuesday.

Crest Builder bags RM486m condominium project in Mont Kiara

Apple's smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020, as its dominance in the high-end segment came under pressure from Huawei's new product launches, market data showed.

Apple's 1Q smartphone shipments in China tumble 19%, data shows

The defence in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial will contest the 25 abuse of power and money-laundering charges levelled against former prime minister Datuk Seri Najib Razak.

Shafee: 1MDB-Tanore charges 'all wrong', will mount challenge

Malaysia still has the advantages for the “China plus one” (China+1) strategy, despite facing rising competition from its neighbouring countries, according to the Socio-Economic Research Centre (SERC).

Malaysia still front runner for China+1 strategy despite rising competition from regional countries, says SERC

KomarkCorp Bhd, which lost its defamation suit against The Edge Communications Sdn Bhd in the High Court last month, is appealing against the court's decision, which found that the media company had not defamed it in an article about the manipulation of penny stocks that was published nearly three years ago.

KomarkCorp appeals against High Court's ruling that The Edge did not defame the company

KUALA LUMPUR (April 23):&nbsp;The Iskandar Regional Development Authority’s (IRDA) target to achieve&nbsp;cumulative investments of RM636 billion by 2030 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness.

Iskandar Malaysia’s RM636b investment target to help propel country into world's top 30 economies — PM

The bodies of the 10 victims involved in the mid-air collision and crash involving two helicopters at the Royal Malaysian Navy (RMN) base in Lumut were recovered earlier on Tuesday.

Police confirm all bodies recovered from helicopters' crash

KUALA LUMPUR (April 23): Gadang Holdings Bhd said it will appeal to the Economic Planning Unit (EPU) for a waiver of the Bumiputera equity requirement to facilitate its acquisition of a 21.08-acre land in Kwasa Damansara.

In a bourse filing on Tuesday, the builder-cum-property developer...

Gadang to lodge appeal over Bumi equity requirement in Kwasa Damansara land acquisition 

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

Comfort Gloves Bhd said there was a fire at the glove maker’s newly-built three storey warehouse and packing department in Taiping, Perak on Tuesday morning.

“The cause of the fire and the actual extent of the damage are currently still unknown, pending the completion of police investigations into the fire and issuance of their report,” the group said in a bourse filing.

Comfort Gloves reports fire at new Taiping warehouse

KUALA LUMPUR (April 23): Malaysia Airports Holdings Bhd’s (MAHB) passenger traffic at its airports in Malaysia and Türkiye continued to recover in the first quarter of 2024 (1Q2024), recording 31.37 million in total passenger movements, with international passenger movements surpassing pre-pandemic levels for the first time.

MAHB’s 1Q passenger traffic rose 17% y-o-y, Istanbul airport exceeds pre-pandemic levels

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

Millennial and Generation Z (Gen Z) Muslims in Southeast Asia are increasingly embracing&nbsp;Islamic banking, with 77% of Malaysians and 65% of Indonesians surveyed using it alongside traditional banking, compared with only 31%&nbsp;globally, according to a report.

Wong Ee Lin

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