In today’s edition of Evening 5 — Serba Dinamik gets EY to review the audit issues flagged by KPMG and appoints three new independent and non-executive directors. Meanwhile, the High Court dismisses Datuk Seri Najib Razak’s bid to stay a ruling requiring him to pay RM1.69bil in tax arrears.</div><div class=inPageAd id=div-gpt-ad-inpage>

EVENING 5: Serba Dinamik appoints Ernst & Young

India’s young population will keep consumption demand high for the next three decades, underpinning rapid growth in the economy, Finance Minister Nirmala Sitharaman said.

India’s young consumers to fuel economy for 30 years, finance minister says

BEIJING/HONG KONG (May 17): China on Friday announced "historic" steps to stabilise the crisis-hit property sector, allowing local governments to buy "some" apartments, relaxing mortgage rules and pledging to deliver unfinished homes.

Investors hoped the measures marked the beginni...

China unveils 'historic' steps to stabilise crisis-hit property sector

The Court of Appeal has adjourned its decision on the federal government’s appeal against the leave granted to the Sabah Law Society (SLS) to seek a judicial review regarding the state’s 40% grant revenue.

Appeals court reserves ruling over Sabah's 40% revenue legal challenge

Partial pension fund withdrawals are expected to boost economic activity, while having little impact on inflation, Bank Negara Malaysia (BNM) said on Friday.

BNM expects limited inflation impact from EPF Account 3, civil servant salary rise

When the office softball group or five-a-side football team goes on a winning streak, it’s a nice pep for morale rather than the balance sheet.

The best football team in Germany is owned by a struggling pharma giant

Taiwanese lawmakers shoved, tackled and hit each other in parliament on Friday in a bitter dispute about reforms to the chamber, just days before President-elect Lai Ching-te takes office without a legislative majority.

Taiwan lawmakers exchange blows in bitter dispute over parliament reforms

Action by Bank Negara Malaysia (BNM) and the government to promote consistent inflows into the foreign exchange (forex) market has eased the pressure on the ringgit against the US dollar, the central bank’s governor Datuk Shaik Abdul Rasheed Abdul Ghaffour said.

BNM governor says intervention eased pressure on ringgit

India’s biggest ever high-yield rupee corporate bond, held by a number of global private credit funds, is casting a spotlight on pockets of stress within the nation’s credit markets.

India’s biggest junk bond faces creditor demands as delay sought

PPB Group Bhd (KL:PPB) is planning to invest RM327 million in its film exhibition and distribution segment, which houses Golden Screen Cinemas, over the next five years.

PPB Group to invest RM327 mil in film segment over next five years

KUALA LUMPUR (May 17): Malaysia’s current account balance (CAB) surplus surged to RM16.2 billion, equivalent to 3.5% of the gross domestic product (GDP) in the first quarter of 2024 (1Q2024), mainly fuelled by the income and goods accounts.

DOSM: Malaysia’s 1Q2024 current account balance surplus higher at RM16.2b

Malaysia’s economic growth accelerated faster than expected in the first three months of 2024, thanks to higher household spending, stronger investment activities, improvement in labour market conditions, and higher exports and tourist arrivals.

Malaysia's 1Q GDP beats consensus estimates, grows 4.2% y-o-y

The male suspect who was shot dead in the attack at the Ulu Tiram Police Station here earlier on Friday is believed to be a member of Jemaah Islamiyah.

Suspect in Ulu Tiram police station attack believed to be member of Jemaah Islamiyah, says IGP

Two policemen were killed and another was injured in an attack on the Ulu Tiram Police Station early on Friday morning.

State police chief Commissioner M Kumar confirmed the incident, stating that it occurred at 2.45am and involved a masked intruder armed with pistols and a machete.

Two policemen killed in attack at Ulu Tiram police station

KUALA LUMPUR (May 17): Shares of S P Setia Bhd (KL:SPSETIA) soared to their highest in nearly six years on Friday, as analysts continue to advise investors to buy the stock, even as its stock price has nearly doubled so far this year.

S P Setia soars to near six-year high as analysts bet on extended rally

BWYS Group Bhd has signed an agreement with M&amp;A Securities Sdn Bhd to underwrite the sheet metal products manufacturer and scaffoldings supplier's upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.

BWYS Group signs underwriting agreement with M&A Securities for ACE Market IPO

Hong Leong Investment Bank (HLIB) Research said the anticipated rebound in construction activities, particularly in railway projects, is expected to generate more contract opportunities for companies like Econpile Holdings Bhd (KL:ECONBHD).

Econpile to ride on construction upcycle, says HLIB 

Shares of Hup Seng Industries Bhd (KL:HUPSENG) climbed to their highest in nearly three years after the biscuit maker reported that its net profit surged 45% year-on-year in the first quarter.

Hup Seng shares climb to near three-year high after 1Q profit surge

KUALA LUMPUR (May 17): Shares of Hong Leong Industries Bhd (KL:HLIND), or HLI, climbed to near their record high on Friday, after the motorcycle assembler reported a 51% year-on-year jump in net profit for the three months ended March 31, 2024.

Hong Leong Industries’ shares retest all-time high after profit jump

KUALA LUMPUR (May 17): Shares of Malaysian Pacific Industries Bhd (KL:MPI) climbed to their highest in 15 months, as analysts flagged stronger quarters ahead following the semiconductor company’s return to the black.

Malaysian Pacific Industries climbs to 15-month high on return to profit

The International Monetary Fund (IMF) criticised the Biden administration’s decision to aggressively raise tariffs on some Chinese goods, underscoring its warning that tensions between the world’s top two economies risk hurting global trade and growth.

IMF knocks Biden’s China tariffs as risk to US, world growth

Asian stocks inched lower on Friday as traders pondered the near term US monetary policy path after Federal Reserve (Fed) officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing.

Asian stocks ease on uncertainty over timing of US rate cuts

KUALA LUMPUR (May 17): Sarawak Cable Bhd (KL:SCABLE) said that the memorandum of agreement (MOA) between the company and Serendib Capital Ltd (Serendib) had been validly terminated.

Sarawak Cable says has found alternative white knight to Serendib

Rakuten Trade said Poh Kong Holdings Bhd (KL:POHKONG) is back on the radar after it pushed out from the pennant pattern with a long white candle on Thursday.

Poh Kong back on the radar, says Rakuten Trade 

The Ministry of Transport (MOT) fully supports Khazanah Nasional Bhd and the Employee Provident Fund’s (EPF) move to privatise Malaysia Airports Holdings Bhd (KL:AIRPORT), or MAHB, as it will enable the implementation of strategic decisions more expediently, according to its minister Anthony Loke Siew Fook.

MOT supports MAHB privatisation, to enable expedient strategic decisions — Loke

theedgemalaysia.com highlighted three stocks with positive momentum and eight stocks with negative momentum at Bursa Malaysia's afternoon close on Friday. &nbsp;

Datasonic, Fiamma, Wong Engineering, Oppstar, Southern Acid, DKSH, BIG Industries, SKP, Infraharta, Beshom, KYM

Selangor opposition leader Datuk Seri Mohamed Azmin Ali said on Friday that there was no denial from Agriculture and Food Security Minister Datuk Seri Mohamad Sabu (Mat Sabu) or businessman Deepak Jaikishan regarding their trip to India, or Deepak’s involvement in procuring a direct negotiation contract with the government for his brother’s company, namely J&amp;E Advance Tech Sdn Bhd, to import eggs into Malaysia.

Azmin: Mat Sabu and Deepak did not deny my comments on their trip to India

PPB Group Bhd (KL:PPB) is planning to invest RM327 million in its film exhibition and distribution segment, which houses Golden Screen Cinemas, over the next five years.

Shut out of US markets and under fire in Europe, China’s electric carmakers are zeroing in on the countries where they’re welcome. One of the big ones is Brazil.

Chinese EV giants hammered by Biden tariff are welcome in Brazil

A suitable list of names for the position of the Election Commission (EC) chairman should be submitted to the Special Parliamentary Select Committee on Human Rights, Elections, and Institutional Reform for vetting before being proposed to the Yang di-Pertuan Agong (YDPA) for consideration as per Article 114 of the Federal Constitution.

List of EC chairman candidates must be vetted before being submitted to Agong

Wireless carrier Maxis Bhd (KL:MAXIS) said on Friday its net profit rose 10% year-on-year (y-o-y) in the first quarter, thanks to higher service revenue and cost control.