A mistake was made in an article on page 20 of the Newsmakers pullout in the latest issue of The Edge Malaysia weekly (Issue 1504, Dec 25, 2023), where it was wrongly stated that Berjaya Corp Bhd had in November 2023 emerged as the controlling shareholder of Salcon Berhad with a 14.54% stake. Berjaya is the single largest shareholder, and not the controlling shareholder of Salcon, which has three other long-time substantial shareholders and partners — Tan Sri Tee Tiam Lee (12.55%), Datuk Leong Kok Wah (10.58%) and Datin Goh Phaik Lynn (10.58%).

We apologise for the error.

Correction to article on Salcon

AwanBiru Technology Bhd (AwanTec), formerly known as Prestariang Bhd, saw its net loss in the first financial quarter ended Sept 30, 2021 (1QFY22) widen to RM1.68 million from RM968,000 a year ago on lower revenue.

Quarterly revenue declined by almost 67% to RM11.76 million from RM35.5 million due to lower revenue generated from its software & services and talent segments, according to the bourse filing to Bursa Malaysia.

AwanBiru 1Q net loss widens on lower revenue

This article has been updated to reflect that retailers could lose up to 30%-40% of their annual revenue from the tobacco excise tax in duty-free areas.

Retailers could lose up to 30%-40% of their annual revenue from the tobacco excise tax in duty-free areas.

In a statement today, the Langkawi Chinese Chamber of Commerce urged the government to reconsider imposing excise tax on cigarettes in all duty-free areas.

Retailers could lose up to 30%-40% of annual revenue from tobacco excise tax in duty-free areas, says chamber

Citigroup strategists downgrade AirAsia Group Bhd to neutral from buy and raise their price estimate to RM3.01 from RM2.92 as they expect dividend yields to generate 5.6% total return.

Citi downgrades AirAsia to neutral; raises price target by 3%

KUALA LUMPUR (May 23): In an earlier article based on a report by Frost & Sullivan entitled “New Government in Malaysia — Implications for the Energy Sector” issued on May 22, any link between its analysis of a review of government policies on the energy sector to the decline in the prices of...

Correction on article quoting Frost & Sullivan’s Malaysia energy sector report

SINGAPORE (Jan 15): Singapore eDevelopment, previously known as CCM Group, says it is expecting to report a loss for FY2015 ended December.

The group attributed this to development costs and operating expenses incurred for Hotapp. Its major property development projects, Ballenger Run a...

Singapore eDevelopment expects losses for FY2015

We refer to the article published on Nov 3, 2015 "Hibiscus unaware of reason behind UMA",  which stated that Affin Hwang had forced sold Hibiscus shares owned by its clients because of margin calls. We have now established that while there were some forced selling of Hibiscus shares due to m...

Hibiscus unaware of reason behind UMA

SINGAPORE (June 3): M1, Singapore’s smallest telco, has the best 4G connectivity of the three operators, according to an inaugural survey of some 4,000 users conducted by Infocomm Development Authority (IDA).

M1 users took an average of 35.4 milliseconds to set up a local connection on ...

M1 pips bigger rivals in connectivity, data download speed, IDA data shows

Our report "Sarine Technologies price target cut 5.7% to $2.98 by Maybank Kim Eng" on March 6 was based on a research note dated Nov 10, 2014, and does not reflect the broking house's latest views. Maybank Kim Eng's current price target is $3.13. It has a "buy" recommendation. The error ...

Sarine Technologies kept at "buy" with $3.13 target by Maybank Kim Eng

SINGAPORE (Feb 4): Different retirement sums for different needs, an option to withdraw up to 20% of savings in a lump sum, and a choice to defer withdrawal in exchange for higher monthly payouts.

These are some of the recommendations released today by a government-appointed panel set u...

Advisory panel unveils recommendations to improve CPF system

(ITS corrects volumes for Nov. 1-20 to 837,659 tonnes from 837,329 tonnes)

    
KUALA LUMPUR (Nov 20): Exports of Malaysian palm oil products for Nov. 1-20 fell 6.4 percent to 837,659 tonnes from 894,697 tonnes for Oct. 1-20, cargo surveyor Intertek Testing Service...

Malaysia's Nov 1-20 palm oil exports down 6.4 pct m/m -ITS

Malaysia’s biggest port operator Westports Holdings Bhd said on Thursday its net profit rose 11% year-on-year (y-o-y) in the first quarter, thanks to higher container revenue.

Westports' 1Q net profit rises 11% as container revenue climbs

Food ingredients supplier Agricore CS Holdings Bhd said on Thursday it has signed an agreement with M&A Securities to underwrite its initial public offering (IPO) on the ACE Market.

Agricore CS signs underwriting agreement for ACE Market IPO

Former Penang chief minister Lim Guan Eng’s undersea tunnel graft trial on Thursday did not proceed as scheduled because star witness Datuk Zarul Ahmad Mohd Zulkifli is down with vertigo.

Guan Eng's undersea tunnel trial deferred for the day, no warrant of arrest on Zarul Ahmad

Feytech Holdings Bhd looks to raise some RM201.6 million from its initial public offering (IPO) on the Main Market of Bursa Malaysia through the issuance of 252.94 million new shares, with about 43% via offer for sale by existing shareholders, at 80 sen per share.

Feytech Holdings aims to raise over RM201 mil from Main Market IPO at 80 sen apiece 

US software giant Microsoft Corp said on Thursday it would invest US$2.2 billion (RM10.5 billion) over the next four years in cloud and artificial intelligence (AI) infrastructure in Malaysia.

Microsoft to invest US$2.2b in Malaysia over next four years on cloud, AI

Smart Asia Chemical Bhd, an industrial paint and coating manufacturer, on Thursday has begun taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM37.4 million.

Smart Asia Chemical starts taking orders for ACE Market IPO to raise RM37.4 mil

Malaysia's air passenger traffic saw a significant increase year-on-year (y-o-y) in the first quarter of 2024 (1Q2024), rising 16.1% to 22.6 million passengers, nearing pre-pandemic levels, according to the Malaysian Aviation Commission (Mavcom).

Malaysia's air passenger traffic rose 16.1% in 1Q2024, nearing pre-pandemic levels — Mavcom

Matrix Concepts has unveiled the second phase of Resort Villa in Bandar Sri Sendayan, Seremban.

NEWS: Matrix Concepts unveils phase 2 of Resort Villa

New York police officers arrested almost 300 people as they broke up escalating pro-Palestinian protests at two colleges amid an outpouring of anger over the Israel-Hamas war.

New York police arrests over 300 protesters in crackdown on college campuses

Oil and gas exploration and production outfit Hibiscus Petroleum Bhd is looking to leverage the economic boom in the Tok Bali area (in Kelantan) by using it as one of its operating hubs.

Hibiscus Petroleum looking to leverage local resources, infrastructure in Tok Bali

Apex Securities Bhd has recommended investors to “subscribe” to ACE Market-bound Farm Price Holdings Bhd at an initial public offering (IPO) price of 24 sen and a fair value of 42 sen by pegging financial year 2025 (FY2025) forecast core earnings per share of 3.2 sen to price-earnings (PE) of 13 times (75% potential upside from IPO price).

Apex Securities advises investors to subscribe to ACE Market-bound Farm Price with fair value of 42 sen

US software giant Microsoft Corp said on Thursday it would invest US$2.2 billion (RM10.5 billion) over the next four years in cloud and artificial intelligence (AI) infrastructure in Malaysia.

US stocks closed mixed on Wednesday after the Federal Reserve (Fed) left its key interest rate unchanged, as expected, and indicated that while its next move will likely be a rate cut, continued progress on inflation is not assured.

S&P 500, Nasdaq end lower after Fed rate decision, Powell press conference

Elon Musk’s latest cost-cutting victims: Summer interns.

Tesla Inc is rescinding offers just weeks before internships were set to start, prompting aspiring employees to take to LinkedIn to appeal to other employers to take them in.

Tesla interns say offers are getting revoked weeks before their start date

Shares of Bursa Malaysia Bhd climbed to its highest in more than three years after the stock exchange operator reported better-than-expected results that prompted at least two analyst upgrades.

Bursa Malaysia climbs to over three-year high after above-view 1Q

Shares of Duopharma Biotech Bhd surged more than 9% during early trade on Thursday following news of the pharmaceutical company securing supply contracts worth RM578.09 million in total.

Duopharma Biotech surges over 9% after RM578m contract news

Luno, a digital asset exchange (DAX) licensed by the Securities Commission Malaysia, expands its coin offerings with the launch of Cosmos (ATOM) and Polkadot (DOT).

Luno launches two new digital assets

Latest data signalled further downbeat trends across the Malaysian manufacturing sector at the start of the second quarter of 2024.

In a statement on Thursday, S&amp;P Global Market Intelligence said that while demand remained generally subdued, there were slight indications that firms were on an upward trajectory, as firms scaled back production at a softer rate amid a slower reduction in new order inflows.

Overall manufacturing conditions in Malaysia ease to lesser extent, says S&P Global

A gauge of global stocks fell on Wednesday while the dollar weakened against a basket of peers after the Federal Reserve (Fed) left interest rates unchanged and indicated it is still leaning toward eventual rate cuts.

Stocks, dollar decline after Fed holds rates steady

Governments rarely correct deteriorating public finances until they meet some form of debt market disturbance, but the retreat of central banks from sovereign bond markets may eventually set the scene for a showdown.

Bond markets face struggle to surf 'Treasury tsunami'

Smart Asia Chemical Bhd, an industrial paint and coating manufacturer, on Thursday has begun taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM37.4 million.&nbsp;

DBS Group Holdings Ltd’s chief executive officer Piyush Gupta expects another year of record profit after Singapore’s biggest lender delivered better-than-expected results thanks to strong lending and wealth fees.

DBS CEO Gupta sees another record year after posting better than expected 1Q earnings 

Feytech Holdings Bhd looks to raise some RM201.6 million from its initial public offering (IPO) on the Main Market of Bursa Malaysia through the issuance of 252.94 million new shares, with about 43% via offer for sale by existing shareholders, at 80 sen per share.

Alphabet Inc paid Apple Inc US$20 billion (RM95.45 billion) in 2022 for Google to be the default search engine in the Safari browser, according to newly unsealed court documents in the Justice Department’s antitrust lawsuit against Google.

Google’s payments to Apple reached US$20b in 2022, antitrust court documents show

ExecuJet MRO Services Malaysia, a subsidiary of luxury business aircraft maker Dassault Aviation, inaugurated its new maintenance, repair and overhaul (MRO) facility at Subang Airport on Thursday.

Dassault Aviation's MRO unit ExecuJet expands in Malaysia with new facility at Subang Airport

Apple's plan to add generative artificial intelligence (AI) to its iPhones and revive sagging sales in the crucial Chinese market will be in focus on Thursday, when the tech giant is expected to report its biggest quarterly revenue decline in more than a year.

Apple set for big sales decline as investors await AI in iPhones

The US Federal Reserve (Fed) held interest rates steady on Wednesday and signalled it is still leaning towards eventual reductions in borrowing costs, but put a red flag on recent disappointing inflation readings that could make those rate cuts a while in coming.

Fed leaves rates unchanged, flags 'lack of further progress' on inflation

Shares of Starbucks fell 15% to their lowest in nearly two years on Wednesday, after the coffee chain cut annual forecasts on persistent weak demand from inflation-weary US customers and a slower-than-expected economic recovery in China.

Starbucks shares hit two-year low as China, US demand clouds outlook

The Federal Communications Commission (FCC) is moving to prevent Huawei, ZTE and other foreign companies deemed to pose US national security concerns from certifying wireless equipment, officials told Reuters on Wednesday.

US moves to bar Huawei, other Chinese telecoms from certifying wireless equipment

New York police officers arrested almost 300 people as they broke up escalating pro-Palestinian protests at two colleges amid an outpouring of anger over the Israel-Hamas war.

Correction

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