GE14: Looking Back

KUALA LUMPUR (May 18): Selangor Menteri Besar Datuk Seri Mohamed Azmin Ali will be meeting with Prime Minister Tun Dr Mahathir Mohamad at the latest tomorrow, and seek an audience with the Sultan of Selangor after that, to decide if he will continue to helm Selangor or help with the Federal ...

Selangor MB Azmin says he 'certainly won't' hold two posts at the same time

KUALA LUMPUR (May 18): Prime Minister Tun Dr Mahathir Mohamad has announced the Pakatan Harapan government's Cabinet line-up in a statement today, comprising 15 Ministers including the Prime Minister and his deputy, who will be sworn in at the Istana Negara on Monday (May 21) at 11.30am.

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Dr Mahathir lets go of Education Ministry portfolio, announces full Cabinet line-up

SINGAPORE (May 16): Yesterday, the new Pakatan Harapan (PH)-led government announced that Malaysia’s 6% goods and service tax (GST) will be zero-rated from Jun 1 onwards, effectively abolishing it.

Malaysia’s newly elected prime minister, Mahathir Mohamad, had vowed during his campaign ...

Is Malaysia's farewell to its GST a little too rushed?

KUALA LUMPUR (May 17): Malaysia can reduce its fiscal deficit to around -2.7% or -2.8% in 2018 if the Pakatan Harapan (PH) government holds up to its promise for an efficient and prudent government, according to AmBank Research. 

In a note today, AmBank chief economist and head of ...

Malaysia's fiscal deficit may be reduced if PH holds up promise to clean up government, says AmBank Research

KUALA LUMPUR (May 16): More than 10 police cars and a Black Maria (a police truck used to transport prisoners) arrived at the residence of former Prime Minister Datuk Seri Najib Tun Razak on Jalan Langgak Duta, Taman Duta here tonight, Bernama reported.

The lorry believed to be bringing...

Police cars and Black Maria parked outside Najib's house

PETALING JAYA (May 16): PKR de facto leader Datuk Seri Anwar Ibrahim said the Yang Di-Pertuan Agong pardoned him of all  charges because the ruler recognised that there were elements of "miscarriage of justice" in his detention.

“He (the King) followed the development of the case, ...

Anwar: 'King pardoned me because there was miscarriage of justice'

SINGAPORE (May 16): The five-member Council of Eminent Persons, a team of special advisors announced by Malaysia’s prime minister Mahathir Mohamad on May 12, has hit the ground running.

Led by former Finance Minister Daim Zainuddin, the council also includes former Bank Negara Malaysia ...

Malaysia's special advisory council committed to meet first 100-day promises, says Maybank

PETALING JAYA (May 11): Newly sworn-in Malaysian Prime Minister Tun Dr Mahathir Mohamad says the new government he helms will be business-friendly, and expresses hope that the stock market will continue to remain active after it reopens on Monday (May 14) following the two-day public holidays yes...

Tun M assures new government will be business-friendly, wants to bring back 1MDB money

PUTRAJAYA (May 14): Attorney General Tan Sri Mohamed Apandi Ali has been told to go on leave and his duties will be taken over by Solicitor General Datuk Engku Nor Faizah Engku Atek.

At a press conference today, Prime Minister Tun Dr Mahathir Mohamad said the arrangement was due to the ...

Apandi to go on leave, Solicitor General to assume AG's role, PM says

KUALA LUMPUR (May 15): Prime Minister Tun Dr Mahathir Mohamad plans to play a background role in the government even after he hands over the reins of power to Datuk Seri Anwar Ibrahim in one to two years' time.

Dr Mahathir said PKR de facto leader Anwar, who is expected to be released f...

 Dr Mahathir to have a 'background' role even after Anwar takes over as PM

GE14 Results for State seats

KUALA LUMPUR (May 14): Umno has given its acting president Datuk Ahmad Zahid Hamidi the green light to negotiate with other political parties on forming the government or opposition blocs.

Zahid said the Umno supreme council, which decided this at a meeting today, imposed the condition ...

Umno mandates Zahid to negotiate with other parties

GEORGE TOWN (May 14): DAP secretary-general Lim Guan Eng said the Anti-Fake News Act will be abolished, as promised in Pakatan Harapan’s general election manifesto.

“Pakatan’s position has always been that the Act would be abolished but I will clarify with Prime Minister Tun Dr Mahathir...

Anti-Fake News Act will be abolished as promised, says Guan Eng

Japan’s consumer inflation eased more than expected while staying above the Bank of Japan’s target as board members get ready to revise their price forecasts next week.

Japan’s inflation cools ahead of BOJ policy board meeting

KUALA LUMPUR (April 19): Kenanga Research has maintained its “underweight” rating on the media sector and said 1QCY24 adex (+14% YoY) exceeded house expectations due to stronger-than-expected recovery in the Free-to-Air television (FTA TV) segment, mainly catalyzed by the nascent recovery in both...

Media sector earnings outlook still fragile, says Kenanga Research 

(April 19): South Korea's Hyundai said on Friday that it had paused advertising on X, formerly known as Twitter, and is speaking to the Elon Musk-owned social media platform directly about brand safety issues.

It was not immediately clear why the auto giant had paused the advertisements...

Hyundai pauses ads on X over brand safety issues

Hong Leong Investment Bank (HLIB) said Kimlun Corp Bhd’s earnings is primed for promising prospects in FY2024-25, underpinned by an unbilled orderbook of RM2.48 billion (3.0x cover on FY2023 revenue and the highest achieved since FY2018), with 85% dedicated to construction and the remaining to precast manufacturing.

HLIB sees promising prospects for Kimlun’s FY24-25 earnings

TA Securities thinks that KIP REIT will have a good 3Q showing

MORNING CALL: 19/4/24

Rakuten Trade said United U-Li Corporation Bhd may trend higher after breaking out from its two-week bullish flag pattern with a long white candle on Thursday.

United U-Li Corp may trend higher, says Rakuten Trade 

Israel received its first-ever sovereign downgrade as S&P Global Ratings lowered its credit rating to A+ from AA- on heightened geopolitical risks for the region.

S&P downgrades Israel rating on heightened geopolitical risk

RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.

Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

RHB Retail Research said Muhibbah Engineering (M) Bhd may be headed for an uptrend after rebounding strongly from a recent pullback and pushing past the 21-day simple moving average line.

Muhibbah Engineering may be headed for uptrend, says RHB Retail Research 

The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.

 Sarawak aiming to transform itself into a centre for clean hydrogen energy

KUALA LUMPUR (April 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiT...

HeiTech Padu, Axiata, AmanahRaya REIT, AmFirst REIT, RHB Bank, 7-Eleven Malaysia, MBSB, Awantec, MAA Group, UMediC, Systech, Pansar, Auro, Kimlun and AWC

PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.

PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

FE Green Pet (M) Sdn Bhd’s new high-tech recycling factory is expected to make Melaka a green investment destination and complement the economic growth strategy in the state, said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.

He said with an investment totalling approximately RM958 million, the plant on 14 hectares of land is projected to be completed by 2Q 2025, creating almost 500 jobs.

RM958 mil high-tech recycling factory puts Melaka on green investors map — Ab Rauf

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EVENING 5: Five things you need to know today

High-impact projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) and&nbsp;Special Financial Zone&nbsp;(SFZ) in Forest City can spur Johor’s economy to outpace that&nbsp;of other states in the next one to two years, said Prime Minister Datuk Seri Anwar Ibrahim.

Special economic, financial zones can help Johor surpass other states economically, says Anwar

Swiss state prosecutors are seeking long prison terms for two men accused of embezzling US$1.8 billion from 1Malaysia Development Bhd (1MDB) — Saudi-Swiss businessman Tarek Obaid and his Swiss-British business partner Patrick Mahony, the AFP reported.

Swiss prosecutors seek long jail terms for duo in US$1.8bil 1MDB fraud — report

Kimlun Corporation Bhd has bagged a construction contract worth RM150 million for a serviced apartment development project in Johor Bahru.

In a bourse filing on Thursday, Kimlun said its wholly-owned subsidiary Kimlun Sdn Bhd received the award as the main contractor for the Aliva Mount Austin residential project from Astaka Development Sdn Bhd, a subsidiary of Singapore-listed Astaka Holdings Limited.

Kimlun bags RM150 mil contract for residential construction project in Johor

(April 18):&nbsp;The world of chocolate is facing such immense cocoa shortages that the wild trading lured an unlikely player&nbsp;—&nbsp;Pierre Andurand, a hedge-fund manager best known for his bets on oil.&nbsp;

Why the world of chocolate is in crisis

The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.

NEW YORK (April 19): US stocks vacillated on Thursday, swinging from red to green and back as investors contended with the push-pull of a strong economy and restrictive Federal Reserve policy.

Benchmark Treasury yields resumed their climb and gold added strength as ongoing turmoil in th...

Wall Street closes lower; gold climbs amid economic, geopolitical crosswinds

The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.

US stops UN from recognising a Palestinian state through membership

With 94% of Malaysian companies gearing up for an artificial intelligence (AI) driven future, National Technology and Innovation Sandbox (NTIS) together with NVIDIA has launched an AI pilot sandbox programme.

MOHE estimates 13,000 new AI talents by 2026

Indonesia discouraged its state-owned enterprises from making huge dollar purchases, showing the all-hands-on-deck approach that the nation has taken to support the rupiah.

State-run firms with large import requirements or foreign currency-denominated debt must avoid buying large amounts of US dollars while the rupiah is under pressure, Coordinating Minister for Economic Affairs Airlangga Hartarto said in a briefing on Thursday.

Indonesia tells state firms to refrain from buying dollars

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower for the fifth consecutive day, said palm oil trader David Ng.

He said the weaker soybean oil market and lower crude oil prices continue to pile pressure on prices.

CPO futures end lower for 5th consecutive trading day

Datuk Seri Dr Zambry Abdul Kadir, who co-chairs the Kuala Kubu Baharu by-election machinery&nbsp;coordination for the unity coalition, said its candidate would be deemed to represent the unity government rather than&nbsp;any particular party per se.

Kuala Kubu Baharu by-election: Candidate to represent unity govt rather than any particular party, says Zambry

Chinese government-linked hackers have burrowed into US critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI director Christopher Wray said on Thursday.

FBI says Chinese hackers preparing to attack US infrastructure

US stocks closed near the unchanged mark on Thursday, as investors sifted through the latest corporate earnings, while economic data and comments from Federal Reserve officials suggested the central bank was unlikely to cut interest rates in the near future.

Stocks end near flat as investors assess earnings, data

Healthcare digitalisation and financing reform&nbsp;remain&nbsp;the priorities of the Ministry of Health (MOH) aimed at&nbsp;strengthening and improving&nbsp;the healthcare system across the country.

Healthcare digitalisation, financing reform remain MOH's priorities, says Dzulkefly

Federal Reserve policymakers have coalesced around the idea of keeping borrowing costs where they are until perhaps well into the year, given slow and bumpy progress on inflation, and a still-strong US economy.

US Fed policymakers agree there's no urgency to cut rates

The remains of the late Tan Sri Joseph Kurup arrived at the Kota Kinabalu International Airport here at 11.20pm on a commercial flight.

The flight which was initially scheduled at 9.15am on Thursday was cancelled due to ash clouds from Mount Ruang’s volcanic eruption in North Sulawesi, Indonesia, engulfing the air space.

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