(May 7): Singapore’s Keppel Infrastructure Trust (KIT) is considering raising up to S$500 million (US$370 million) through a placement and preferential offering, according to people with knowledge of the matter.

Keppel Infrastructure plans to raise up to US$370m for Ventura Motors acquisition

Tesla Inc shipments from its Shanghai factory dropped year-on-year in April even as the overall market for new-energy cars grew, another sign of the pressure Elon Musk’s company is under in China’s hyper competitive automobile sector.

Tesla China shipments sink in April amid broader sector growth

A 65% slide in VinFast Auto Ltd’s stock this year underlines the challenge faced by the electric vehicle (EV) maker backed by Vietnam’s richest man.

VinFast’s EV ambitions get a reality check as shares plunge 65%

France would welcome China's electric vehicle (EV) giant BYD if the company should it decide wanted to open a factory in France, Finance Minister Bruno Le Maire said on Monday.

Chinese EV maker BYD welcome to open factory in France, French finance minister says

KUALA LUMPUR (May 6): National carmaker Perusahaan Otomobil Kedua Sdn Bhd (Perodua) is targeting a 79% export growth to 1,960 units this year, compared to 1,094 units in 2023, as it expands its footprint in Brunei with the introduction of new models.

Perodua eyes 79% jump in exports this year as it introduces more models in Brunei

Proton Holdings Bhd reported on Monday its car sales rose by 17.1% to 11,025 vehicles in April (including domestic and exports) compared to the 9,415 units sold last year.

Proton records sales of 11,025 units in April, higher by 17.1% y-o-y

Global petrol demand growth could halve in 2024, squeezing second-half refinery margins, analysts said, driven by a shift to electric cars in China and the US and a return to normal consumption after last year's bounce following Covid-19.

Gasoline demand growth to slow this year on EV growth in China, US

Electric vehicle (EV) maker Zeekr Intelligent Technology Holding said on Friday it was targeting a valuation of up to US$5.13 billion (RM24.32 billion) in its US initial public offering (IPO), the first major floatation of a China-based company in more than two years.

China's Zeekr seeks up to US$5.13b valuation in US IPO

The European Commission has warned three Chinese electric vehicle makers that they have not supplied sufficient information for its anti-subsidy investigation, according to two people familiar with the case.

If the Commission concludes that the provided information from sampled companies BYD, SAIC and Geely is insufficient, it could use evidence available elsewhere to compute tariffs, a move that can inflate them.

EU says information from three Chinese EV makers insufficient

The Road Transport Department (RTD) has issued a recall notice for 600 units of Chery's Omoda 5 model vehicles, effective immediately, in response to a widely circulated incident on social media that occurred on April 28.

In a statement, the RTD announced that they have summoned Chery Corporate Malaysia Sdn Bhd to conduct a thorough investigation and gather additional information to ensure the safety of both vehicle owners and road users.

RTD issues immediate recall of 600 Chery Omoda 5 SUVs

In China, electric carmakers are offering up luxury tech — without the luxury price tag — in the battle for buyers. Cars are being loaded with once-expensive interior features and technology for as low as US$20,000 (RM95,335) — less than half the cost of the average new car in the US.

EVs are getting smarter and cheaper in China

Aston Martin posted a bigger-than-expected first-quarter loss on Wednesday.

Aston Martin losses rise ahead of new models

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

European car giants Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue on Tuesday as they geared up to launch new models, faced higher costs and were hit by weaker demand for new cars as interest rates remain high.

Weak demand, new model ramp-up hit Europe's top automakers

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

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

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

(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

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.

Wall Street extends gains as rate-cut hopes linger

TotalEnergies SE’s CEO has plenty of reasons to antagonise the French government with the possibility of moving its stock listing to Wall Street. When measured in dollars, there are tens of billions of them.

TotalEnergies has plenty of reasons to say ‘Au Revoir, Paris’

Microsoft Corp has deployed a generative AI model entirely divorced from the internet, saying US intelligence agencies can now safely harness the powerful technology to analyse top-secret information.

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