<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 16): Ancom Nylex Bhd (ANB) has accepted two separate sale and purchase agreements with Petronas Chemicals Marketing (Labuan) Ltd (PCML).</p></div>

<div class=newsTextDataWrapInner><p>The agreements entail PCML supplying methanol to Ancom's wholly owned subsidiary Perusahaan Kimia Gemilang Sdn Bhd (PKG) and the 51%-owned subsidiary Ancom Kimia Sdn Bhd (AKSB).</p></div>

<div class=newsTextDataWrapInner><p>The duration of the contract was for five years commencing Jan 1 to Dec 31, 2027, said the group in its filing on Thursday (March 16).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>PCML is expected to deliver between 148,000 to 184,000 metric tonnes (MT) of methanol to PKG in 2023, and 150,000 to 250,000 MT from 2024-2027.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, PCML will deliver 92,000 to 114,000 MT of methanol to AKSB this year, followed by 90,000 to 110,000 MT for 2024-2027.</p></div>

<div class=newsTextDataWrapInner><p>“The contract is not expected to have any effect on the share capital and substantial shareholders’ shareholdings of ANB Group,” said Ancom.</p></div>

<div class=newsTextDataWrapInner><p>Nevertheless, the contract is expected to contribute positively towards the future earnings and net assets per share of ANB Group for the financial year ending May 31, 2023 and the financial years thereafter for the duration of the contract, it added.</p></div>

<div class=newsTextDataWrapInner><p>Ancom’s share price closed seven sen or 6.14% lower to RM1.07, giving its market capitalisation of RM1.04 billion.</p></div>


KUALA LUMPUR (March 16): Ancom Nylex Bhd (ANB) has accepted two separate sale and purchase agreements with Petronas Chemicals Marketing (Labuan) Ltd (PCML).

The agreements entail PCML supplying methanol to Ancom's wholly owned subsidiary Perusahaan Kimia Gemilang Sdn Bhd (PKG) and the 51%-owned subsidiary Ancom Kimia Sdn Bhd (AKSB).

Ancom Nylex accepts methanol supply agreement from Petronas Chemical Labuan for five years

Wall Street's main indexes advanced on Thursday, a day after the Federal Reserve left interest rates unchanged and signaled a dovish tilt, with focus moving to a crucial job report later in the week.

While Fed Chair Jerome Powell indicated that stubbornly high inflation would see a long-expected US rate cut pushed back, he refused to entertain talk that rates might actually need to go up again.

Wall Street gains on Fed's dovish signals

The presence of and commitment shown by the Unity Government party machinery campaigning in the Kuala Kubu Baharu (KKB) state by-election to ensure victory for its candidate is clear proof of the government's integrity.

KKB polls: Presence of party machinery is proof of Unity Government's togetherness — Zambry

Technical and Vocational Education and Training (TVET) programmes are set to be enhanced to address the shortage of 30,000 engineers in the country, said Prime Minister Datuk Seri Anwar Ibrahim.

He also emphasised the importance of focusing on Artificial Intelligence (AI) technology to keep pace with current demands.

TVET in Malaysia to be enhanced to address shortage of 30,000 engineers — PM

KUALA LUMPUR (May 2): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Yinson Holdings Bhd has closed the limited recourse term loan facility of up to US$1.3 billion (RM6.2 billion) for the financing of its Ago...

Yinson, Protasco, LCTitan, Westports, UOA REIT, Frontken, Pasukhas, BHIC, JAKS, Epicon, Sarawak Cable, Annum, Aldrich, Ajinomoto, Ageson and SMI

Ageson Bhd said Virdos Lima Consultancy (M) Sdn Bhd (VL Consultancy) is in the final stage of completing its independent assessment report on the matters raised by its external auditor in its financial statements for the 18-month financial period ended Dec 31, 2022 (FPE2022).

Ageson says independent review of audit issues raised by its auditor now in final stages

The Penang government plans to hold a workshop with stakeholders to finalise the Penang Mutiara Line Light Rail Transit (LRT) Project following minor amendments to the original plan.

Chief Minister Chow Kon Yeow said the workshop is expected to be held within a week or two so that further work involving the transformative infrastructure project can be carried out.

Penang to hold workshop with stakeholders to finalise Mutiara Line LRT alignment

Prime Minister Datuk Seri Anwar Ibrahim said he has encouraged Japan and Qatar to explore investment opportunities in Kelantan.

As the country's leader, he said that he will always strive to help develop all states in Malaysia.

PM encourages Japan, Qatar to explore investment in Kelantan

The options market is betting that stocks will swing widely after Friday’s US jobs report, which traders expect will offer more clarity on how much the Federal Reserve may cut interest rates this year.

The S&P 500 Index is expected to move 1.2% in either direction after the release, based on the cost of at-the-money puts and calls expiring Friday, according to Stuart Kaiser, Citigroup Inc’s head of US equity trading strategy. That figure, based on the prices of S&P straddles as of Wednesday’s close, is the largest implied swing ahead of an employment report since March 2023, he said.

Options traders brace for biggest S&P jobs-day swing in a year

Bill Gross, who pioneered the “total return” strategy in the 1980s that revolutionized the bond market, says the approach is now defunct.

Bill Gross says ‘total return’ strategy he pioneered is ‘dead’

The High Court on Thursday upheld the conviction and 12-year prison sentence against Rumah Bonda founder Siti Bainun Ahd Razali for neglecting and abusing Bella, a teenage girl with Down’s syndrome.

Bella case: High Court upholds Siti Bainun's conviction and sentence  

<p>Mechanical and electrical engineering services provider Pasukhas Group Bhd has secured a RM56.98 million contract to build a data centre in Selangor.</p>


Pasukhas secures RM57m contract from US company to build data centre in Selangor 

<p>The additional investment by Microsoft amounting to US$2.2 billion or RM10.5 billion in the country over the next four years is the largest single investment by the company in its 32 years in Malaysia.</p>


Microsoft’s new US$2.2b outlay is company’s largest single investment in Malaysia, says Anwar

<p>The High Court on Thursday dismissed Tengku Datuk Zafrul Abdul Aziz's application to file an affidavit with regards to Datuk Seri Najib Razak's judicial review application to unearth an addendum to his pardon order that detailed he was to spend the remainder of his sentence under "house arrest".</p>


Court rejects Zafrul’s bid to file affidavit on Najib’s ‘house arrest’ order

<p>Shares of Ge-Shen Corp Bhd rose as much as 14.91% to a new record high of RM4.47 on Thursday, following the emergence of Chin Hin Group’s Chiau family as its second largest shareholder.</p>


Ge-Shen shares hit new high on emergence of new substantial shareholder

<p>US President Joe Biden included ally Japan along with rivals China and Russia in a list of countries he called “xenophobic” in a speech at a campaign fundraising event in Washington.</p>


Biden calls ally Japan ‘xenophobic’ along with China, Russia

<p>theedgemalaysia.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close on Thursday. Two stocks showed positive momentum while five stocks showed negative momentum.</p>


GHL Systems, Oppstar, Bursa Malaysia, Country View, Fiamma, Marco, Tambun Indah 

<p>Smart Asia Chemical Bhd, en route to Bursa Malaysia’s ACE Market, expects its new plant in Perak to triple its production capacity while allowing the paint and coating manufacturer to be closer to its clients.</p>


Smart Asia Chemical to triple capacity with new plant from IPO proceeds

<p>IT will be a busy year for the energy sector. Over the past month, there has been a slew of announcements, with the latest being the establishment of the Energy Exchange Malaysia (Enegem).</p>

<p>The Enegem programme will start with a project with a pilot auction of 100mw of renewable energy (...

Cover Story: A busy year for RE players

<p>The El Nino phenomenon hitting the country is expected to continue for the next two months, said Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.</p>


El Nino to last two more months; 2024 could be Malaysia’s hottest year — Nik Nazmi 

<p>South Korea's SK Hynix said on Thursday its high-bandwidth memory (HBM) chips used in AI chipsets were sold out for this year and almost sold out for 2025 as businesses aggressively expand artificial intelligence services.</p>


Nvidia supplier SK Hynix says HBM chips almost sold out for 2025

<p>Local authorities' investigations into 1Malaysia Development Bhd (1MDB) involved "thousands" of documents, and not all of them could be specifically shown to imprisoned former prime minister Datuk Seri Najib Razak when his statement was recorded, the court heard on Thursday.</p>


MACC IO says 'thousands' of docs involved in 1MDB probe, impossible to show each one to Najib

<p>DBS Group Holdings Ltd was hit by renewed disruptions to its Internet banking and payment services in Singapore on Thursday, days after a six-month ban by the island’s central bank over similar glitches ended.</p>


Singapore DBS’ digital services hit days after MAS ban ends

<p>Construction outfit and bus operator Epicon Bhd will exit Practice Note 17 (PN17) status on Friday following the completion of its regularisation plan.</p>


Epicon, formerly Konsortium Transnasional, exits PN17 status

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EVENING 5: Five things you need to know today

<p>Lotte Chemical Titan Holdings Bhd (LCTitan) logged a net loss of RM178.03 million in the first quarter ended March 31, 2024 (1QFY2024), making the group's eighth straight loss-making quarter.</p>


LCTitan posts 8th straight quarterly loss ahead of planned plant turnaround

<p>Surface engineering service provider Frontken Corp Bhd recorded a 27.4% jump year-on-year (y-o-y) in its net profit for the first quarter ended Mar 31, 2024 (1QFY2024) to RM30.05 million, from RM23.58 million last year, mainly due to improved revenue and better profit margin.</p>


Frontken kicks off FY2024 with 27% jump in net profit on improved revenue, better profit margin 

<p>JAKS Resources Bhd's unit has signed a memorandum of understanding (MOU) with China-based CALB Group Co Ltd to explore opportunities in the battery energy storage system (BESS) market, with a particular focus on the Southeast Asia region.</p>


JAKS partners CALB to tap into SE Asia's battery energy storage systems market

<p>Ajinomoto (M) Bhd’s RM2.12 special dividend announced in July last year in conjunction with a land disposal exercise will go ex on May 15.</p>


Ajinomoto’s special dividend of RM2.12 goes ex on May 15

<p>Shell reported first-quarter profit of US$7.7 billion (RM36.7 billion) on Thursday, sharply beating expectations after disruptions in the Red Sea and Russia lifted oil refining and trading.</p>


Shell smashes forecasts with US$7.7b quarterly profit

<p>Sarawak Cable Bhd (SCB) has once again obtained a time extension to submit its Practice Note 17 (PN17) regularisation plan from Bursa Malaysia.</p>

<p>The deadline has now been extended by another six months to Sept 30 from March 31, its bourse filing on Thursday showed. The original deadline was Nov 1, 2023.</p>
