MAIN Market-listed Kelington Group Bhd — seeing early signs of development amid the recovery of the semiconductor industry and intending to capitalise on potential demand for its ultra-high purity (UHP) gas solution from technology players — has positioned itself in Hong Kong and Germany to meet ...

Kelington positions itself to capture new markets via Hong Kong and Germany

WASCO Bhd is among the stocks that have benefited from the positive sentiment in the oil and gas (O&G) industry. Its share price has soared 46% so far this year, boosted by its improved earnings performance. The current escalated crude oil prices have also prompted investors to relook at the ...

Wasco seizes opportunities arising from O&G infrastructure building

LOW-PROFILE company Nextgreen Global Bhd, which is in the business of turning empty fruit bunches (EFB), a byproduct of palm oil mills, into green and sustainable products such as pulp and paper, pulp moulding, fertiliser and animal feed, is now ready to showcase to the world what it can do.
...

Nextgreen Global scales up operations, turning biomass into green products  

Malaysia Smelting Corp Bhd

Target price: RM3.60 BUY

Brokers Digest: Local Equities - Malaysia Smelting Corp Bhd, Dialog Group Bhd, Malakoff Corp Bhd, Alliance Bank Malaysia Bhd

Notable filings

During the week of April 15 to 19, notable shareholding changes at Bursa Malaysia-listed companies included those at Excel Force MSC Bhd (EForce), which saw Chinese businessman Chen Hui cease to be a substantial shareholder.

According to fili...

Insider Moves: Excel Force MSC Bhd, Omesti Bhd, United Plantations Bhd, Jentayu Sustainables Bhd, Transocean Holdings Bhd 

With a rapid demographic transformation underway, Malaysia stands at the threshold of a pivotal era marked by heightened public spending to effectively address the profound implications of its ageing population. Chief among these challenges is the surging demand for healthcare services, propelled...

My Say: Resurrecting GST: The case for a comeback

In thinking about the future of technology in Malaysia, post the KL20 event in Kuala Lumpur in April, it is worth revisiting a pivotal moment in technology history. In 1987, Microsoft Corp’s MS-DOS operating system was coming to the end of its natural life cycle. Given the explosive growth in per...

My Say: KL20 and the need for accepting failure

THE prize in the Kuala Kubu Bharu (KKB) by-election is just a single Selangor state assembly seat, but the contest here has drawn much attention as the Pakatan Harapan (PH)-led unity government strives to retain its support in the state that was once known as a PH stronghold. Perikatan Nasional (...

Run-Up To KKB By-election: More than a contest for one state seat

THE long-awaited sale of Sapura Energy Bhd’s remaining 50% stake in its exploration and production (E&P) unit — SapuraOMV Upstream Sdn Bhd — has finally come to pass. However, its largest shareholder, Permodalan Nasional Bhd (PNB), cannot breathe a sigh of relief yet.

Last week, the...

Sale of crown jewel alone won’t revive Sapura Energy

Late last year, a Chinese carrier accidentally sold flight tickets at about US$1.30 each during a two-hour technical glitch in its mobile phone app and some ticket booking platforms. Naturally, consumers started sharing the great deal on social media until the airline company rectified the glitch.

Coffee Break: A matter of honour?

ALTHOUGH Indonesia’s central bank last Wednesday surprised with a rate hike of 25 basis points to 6.25% — the nation’s highest — to shore up the rupiah, Malaysia does not face any pressure to do the same, as economic growth remains a priority of Bank Negara Malaysia, economists say.

Fur...

The State of the Nation: No pressure for Malaysia to follow suit after Indonesia’s surprise rate hike, economists say

AFTER much anticipation, Capital A Bhd has finally revealed its plan to exit its Practice Note 17 (PN17) status for financially distressed companies. The low-cost carrier is proposing to sell its aviation business to sister company, AirAsia X Bhd (AAX), for RM6.8 billion through a share and novat...

More work lies ahead for PN17 Capital A, say analysts

AFTER more than two years since Capital A Bhd fell into the Practice Note 17 (PN17) category — Bursa Malaysia’s classification for companies in financial distress — there appears to be hope for the aviation group that it will finally emerge from this category by leveraging the clean balance sheet...

AirAsia X-Capital A merger set to transform air travel again, says Fernandes  

Prime Minister Datuk Seri Anwar Ibrahim on Labour Day announced a pay rise for civil servants, ensuring the public staff’s monthly salary will not be less than RM2,000 starting this December.

According to Anwar, who is also the finance minister, the overall minimum pay of civil servants...

Frankly Speaking: Funding the civil servant pay hike and higher pension

As Malaysia aims to achieve high-income status, it needs to improve its human capital outcomes to match those of high-income countries.

Aspiring to high-income status: Education matters

KUALA LUMPUR (May 8): Global sales of semiconductors jumped 15.2% year-on-yera in the first quarter of 2024 to total US$137.7 billion during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).

In a statement on Tuesday, the industry association...

First-quarter global semicon sales jumped 15.2% y-o-y to  US$137.7 billion, says SIA 

(May 8): Currency markets have started pricing in elevated foreign exchange volatility around the US vote on Nov. 5, even with election day almost six months away.

That concern is particularly pronounced in options betting on the Chinese offshore yuan, with the spread between six- and t...

US election risks are starting to show up in foreign exchange markets

(May 8): China-based ByteDance Ltd. made clear it won’t comply with a new US law requiring it to sell its popular TikTok video-sharing app, setting up what likely will be a prolonged court battle pitting free-speech rights against national-security interests that could end up at the Supreme Court...

TikTok lawsuit sets stage for prolonged legal fight over US ban

(May 8): Donald Trump’s criminal trial for allegedly mishandling classified documents has been postponed indefinitely in a blow to the Justice Department’s efforts to obtain a jury verdict before November’s presidential election.

US District Judge Aileen Cannon, who is overseeing the cr...

Trump judge indefinitely postpones documents case trial

(May 8): Reddit Inc. jumped more than 10% in extended trading after reporting quarterly sales that topped analysts’ estimates, impressing investors in its first results as a public company.

Revenue increased 48% to US$243 million in the period ended March 31, the social media company sa...

Reddit gains after strong sales in first report since IPO

(May 8): The S&P 500 and Dow Jones Industrial Average both clung onto gains to ended slightly higher on Tuesday, extending recent winning streaks fueled by renewed expectations that the Federal Reserve will cut interest rates this year.

The advances pushed the S&P 500 to a fourt...

S&P, Dow end slightly up, extend closing streaks despite Disney drag

NEW YORK (May 8): Wall Street pared earlier gains on Tuesday after equity markets elsewhere rallied as investors parsed when and by how much the Federal Reserve cuts interest rates this year, while a resurgent dollar helped weaken the yen further.

MSCI's gauge of global stock performanc...

Wall St loses steam, dollar gains as investors mull rate cut timing

PARIS (May 8): Borussia Dortmund showed great composure to reach their third Champions League final after Mats Hummels' second-half goal earned the visitors a 1-0 victory against misfiring Paris St Germain for a deserved 2-0 aggregate win on Tuesday.

Hummels headed home from a corner fi...

Hummels on target as composed Dortmund knock PSG out to reach final

NEW YORK (May 8): Porn star Stormy Daniels described her 2006 encounter with Donald Trump in unflattering terms at his criminal trial on Tuesday, testifying she tried not to think about the sex while it took place and feared it would become public.

For several hours Daniels, 45, offered...

Stormy Daniels testifies she had sex with Trump, defense attacks her credibility

Global oil major Shell said on Tuesday that it remains "committed to the mobility business" in Malaysia, after a report that it was in talks with Saudi Aramco to sell its gas stations in the country.

Shell says it remains committed to mobility business in Malaysia

(May 7):&nbsp;Princeton Digital Group secured a US$280 million green loan to help finance a US$1.5 billion data centre it’s building in southern Malaysia, a first for the Asian infrastructure operator as it aims to get that complex operational by June.

Singapore-based Princeton Digital gets green loan for US$1.5b Asia AI hub in Johor

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

Sime Darby Plantation, Pekat, Siab, OCK, Sapura Energy, CTOS, Awantec, Mobilia, Prolintas, Power Root

Sapura Energy Bhd’s joint venture companies (JVCos) have bagged contracts worth US$1.8 billion (RM8.53 billion) to provide engineering services via six pipe-laying support vessels.

Sapura Energy's JVs win US1.8b worth of contracts in Brazil

The takeover bid by Yinson Holdings Bhd’s major shareholder for Icon Offshore Bhd was made at 63.5 sen per share, as wellas 0.1 sen per warrant.

Yinson's major shareholder raises Icon stake to 56.67% as MGO closes

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EVENING 5: Five things you need to know today

KUALA LUMPUR (May 7): Following its record-breaking year in 2023, CTOS Digital Bhd posted a 25.6% year-on-year jump in its first quarter net profit this year, as it recorded higher revenue and lower tax expense following the approval of a tax incentive for its main subsidiary CTOS Data Systems Sdn Bhd (CDS).

CTOS kicks off FY2024 with 25% profit jump on higher revenue, lower taxes

AwanBiru Technology Bhd (Awantec) reported a net profit of RM2.14 million for its third quarter ended March 31, 2024 (3QFY2024), a significant turnaround from the net loss of RM1.99 million it incurred a year ago, as its software and services segment secured major contracts with higher revenue.

Awantec reports profit in 3Q as revenue jumps on new contracts

BATU KAWAN (May 7): The semiconductor industry presents Malaysia with a once-in-a-generation opportunity for exponential economic growth, and industry players are advised to capitalise on this billion-dollar sector, said&nbsp;Deputy Investment, Trade and Industry Minister Liew Chin Tong on Tuesday.

Semiconductor industry offers Malaysia chance for exponential growth — deputy minister

The Malaysian Communications and Multimedia Commission (MCMC) will sign a Memorandum of Understanding (MOU) with Microsoft on May 14 to develop a digitally skilled workforce, particularly in the artificial intelligence (AI) sector, through education.

MCMC, Microsoft to ink MOU on digital workforce cultivation next Tuesday — deputy minister 

Power Root Bhd's subsidiaries have successfully recovered trademark of its own “Ah Huat” brand for coffee and tea beverages, after reaching an amicable out-of-court settlement with its Indonesian distributor CV Ego Sun Star Sukses Mandiri (CV Ego) following an infringement wrangle that started in 2013.

Power Root reclaims ‘Ah Huat’ brand in Indonesia after decade-long trademark tussle 

Urusharta Jamaah Sdn Bhd (UJSB) — a special purpose vehicle established under the Ministry of Finance to rehabilitate, restructure and monetise underperforming assets transferred to it from Lembaga Tabung Haji — has emerged as a substantial shareholder in Prolintas Infra Business Trust.

Urusharta Jamaah emerges as third largest shareholder in Prolintas Infra

Apple Inc unveiled a new artificial intelligence-focused iPad Pro and a larger iPad Air, aiming to reinvigorate a tablet lineup that has languished over the past two years.

Apple revamps iPads with AI-focused Pro model, bigger Air

Plunging prices for solar panels that have slashed profits across the sector don’t have much room to fall any further, according to the chairmen of two of the industry’s biggest firms.

China’s solar panel giants say prices are near the bottom

(May 7):&nbsp;Cargoes of an oil product from Russia are building up at sea as South Korean buyers turn cautious, highlighting how the invasion of Ukraine is still impacting flows more than two years later.

Cargoes of Russian oil product naphtha stranded at sea as South Korea launches crackdown

GCH Retail (M) Sdn Bhd, the operator of Giant hypermarkets, said the courts are still deciding on the company’s tenancy dispute with its landlord over premises it is currently occupying in Batu Caves.

GCH Retail says Giant Batu Caves tenancy dispute with landlord still being decided by courts

KUALA LUMPUR (May 7):&nbsp;The strategic cooperation between the Malaysian Investment Development Authority (Mida) and the Ministry of Higher Education (MOHE) is expected to catalyse the country’s industrial growth, especially in supporting the development of&nbsp;more&nbsp;talents at the global level.&nbsp;

Mida’s strategic cooperation with Higher Education Ministry to accelerate local industrial growth — Zafrul

(May 7):&nbsp;PCCW Ltd, the telecommunications group controlled by Hong Kong tycoon Richard Li, is in advanced talks to sell a significant minority stake in its fiber business to China Merchants Group Ltd, according to people familiar with the matter.

Tycoon Richard Li said to near stake sale of telecom group’s fiber unit to China Merchants

Home furniture maker Mobilia Holdings Bhd is planning to issue up to 218.75 million free warrants (Warrants-B), on the basis of one Warrant-B for every four existing shares held by entitled shareholders.

Home furniture maker Mobilia plans one-for-four free warrants

US stock indexes rose on Tuesday, extending their recent run on expectations that the Federal Reserve will cut interest rates this year, while a drop in shares of Walt Disney following the company's quarterly results limited their gains.

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