Prime Minister Datuk Seri Anwar Ibrahim described foreign media reports regarding fuel subsidy cuts as unethical, and said that no final decision had been made at the Cabinet level regarding the issue.

Anwar lambasts foreign media over reports on fuel subsidy cut

The UK’s Labour Party is set to impose value-added tax (VAT) on boarding fees as well as private education in the country if it wins the next election, Financial Times (FT) reported, citing party insiders.

UK’s Labour to impose VAT on boarding fees, private education — FT

Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor apologised to Prime Minister Datuk Seri Anwar Ibrahim and Cabinet ministers who attended the state-level Madani Aidilfitri celebration on Saturday night.

Kedah MB apologises to Anwar, Cabinet over ‘inappropriate remarks’

The federal government has agreed in principle to proposals to convert agricultural land within the Muda Agricultural Development Authority (Mada) area for industrial and commercial development.

Anwar says nod given to conversion of Mada land for industrial, commercial development 

US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency.

Yellen counsels caution on currency intervention after yen surge

Labour wins in the UK’s two biggest cities completed a string of local election successes by opposition leader Keir Starmer that showed his party firmly on course for victory at a general election later this year.

Labour mayor wins cap triumphant election run for Starmer

Paytm appointed new business executives as the troubled fintech firm’s chief operating officer resigned.

Paytm appoints new executives as COO resigns

Warren Buffett said he expects the US government to increase taxes to tackle widening fiscal deficits rather than reduce spending.

Warren Buffett says taxes may rise to offset widening US deficits

Warren Buffett assured Berkshire Hathaway shareholders on Saturday that the executives expected to succeed him were ready for the job, and he heaped praise on Apple although Berkshire trimmed its position in the iPhone maker.

Buffett says Berkshire in good hands, lauds Apple despite lowering stake

China's Ping An Insurance Group Co, the biggest Asian investor in HSBC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

Ping An votes against reappointment of HSBC CEO as director — Reuters

China's Ping An Insurance Group Co, the biggest Asian investor in HSBC did not support reappointing chief executive Noel Quinn as a director to the banks board at the its shareholder meeting, a source familiar with the matter told Reuters on Saturday, as the investor voted against such a move.

Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor apologised to Prime Minister Datuk Seri Anwar Ibrahim and Cabinet ministers who attended the state-level Madani Aidilfitri celebration on Saturday night.

Prime Minister Datuk Seri Anwar Ibrahim described foreign media reports regarding fuel subsidy cuts as unethical, and said that no final decision had been made at the Cabinet level regarding the issue.

Labour wins in the UK’s two biggest cities completed a string of local election successes by opposition leader Keir Starmer that showed his party firmly on course for victory at a general election later this year.

Warren Buffett said he expects the US government to increase taxes to tackle widening fiscal deficits rather than reduce spending.

In the May 6 issues of City &amp; Country, the cover story features Eastern &amp; Oriental Bhd’s (E&amp;O) Andaman Island in Penang. The reclaimed island project is taking shape and will come in two phases. Phase one covers 253 acres, while phase two will cover 507 acres. Reclamation work for phase one started in 2015 and was completed in December 2019. Work on phase two is ongoing, with the entire reclamation exercise set to be completed by December 2028.

Developing community living sustainably

The federal government has agreed in principle to proposals to convert agricultural land within the Muda Agricultural Development Authority (Mada) area for industrial and commercial development.

Mathew Ngau Jau is not a fan of hectic city life, though there is certainly something to smile about as he visits Kuala Lumpur this week for a very special recognition at the 19th Boh Cameronian Arts Awards (BCAA).

Treasure of Borneo

US Treasury Secretary Janet Yellen acknowledged sharp moves in the value of the yen this week, even as she declined to say whether Japan had intervened to support the currency.

The UK’s Labour Party is set to impose value-added tax (VAT) on boarding fees as well as private education in the country if it wins the next election, Financial Times (FT) reported, citing party insiders.

Paytm appointed new business executives as the troubled fintech firm’s chief operating officer resigned.

SKP Resources Bhd
(Aug 30, RM1.09)
Maintain market perform with a lower target price (TP) of RM1.15: SKP Resources Bhd’s first quarter of financial year 2020 (1QFY20) net profit (NP) missed our/consensus estimates, at 16%/14% of full-year forecasts due to slower upt...

SKP Resources’ PCBA line could pave the way for more contracts

Sime Darby Property Bhd
(Aug 30, 88 sen)
Maintain buy with an unchanged fair value of RM1.05: Sime Darby Property Bhd (SimeProp) held an analyst briefing yesterday to shed more light on its recently announced first half of financial year 2019 (1HFY19) results. Below...

Sime Darby Property seen on track to meet FY19 sales target

Leong Hup International Bhd
(Aug 30, 83.5 sen)
Maintain buy with an unchanged target price (TP) of RM1.36: Leong Hup International Bhd’s first half of 2019 (1HFY19) results were broadly within expectations in anticipation of stronger quarters ahead. This is judging ...

Leong Hup International expected to turn around in 3Q

IOI Properties Group Bhd
(Aug 30, RM1.19)
Maintain buy with a lower target price (TP) of RM1.53: IOI Properties Group Bhd’s core net income (CNI) of RM640.5 million for the financial year 2019 (FY19) was a tad below our and consensus expectations of 92% and 88% resp...

New sizeable launches by IOI Properties expected in China, M’sia

Axiata Group Bhd
(Aug 30, RM5.05)
Maintain neutral with a higher target price of RM4: Axiata Group Bhd’s headline net profit for the second quarter of financial year 2019 (2QFY19) was RM204.1 million, compared to a net loss of RM3.4 billion for 2QFY18 due to a one-o...

Axiata may conclude proposed Telenor merger by year end

Malayan Banking Bhd
(Aug 30, RM8.69)
Maintain hold with a higher target price (TP) of RM8.95: Malayan Banking Bhd’s (Maybank) net profit for the cumulative six months of financial year 2019 (6MFY19) dipped 2.1% year-on-year (y-o-y) to RM3.75 billion. For the second ...

Maybank seen cautious about 2H outlook

KUALA LUMPUR: In a knee-jerk reaction to the announcement of the passenger service charge (PSC) cut, investors dumped Malaysia Airports Holdings Bhd (MAHB) shares last Friday even as the group reported an 86% leap in quarterly profit.

The immediate concern is that MAHB’s earnings will b...

PSC cut not a good reason to dump MAHB shares — analysts

KUALA LUMPUR: The ministry of finance (MoF) will ensure that a sufficient allocation is made available to settle SRC International Sdn Bhd’s next interest payment of RM43.02 million to the Retirement Fund (Incorporated) (Kumpulan Wang Persaraan [Diperbadankan])(KWAP).

The amount is due ...

MoF to ensure KWAP gets SRC’s next interest payment of RM43m

KUALA LUMPUR: The prime minister (PM) was recently asked why Parti Keadilan Rakyat president Datuk Seri Anwar Ibrahim has not been brought into the cabinet given the mounting pressure for a date to be set for the transition of power.

On the face of it, the PM’s reply that his agreed-upo...

PM’s ‘no vacancy’ remark draws varied responses

KUALA LUMPUR: Malaysia’s two biggest banks, Malayan Banking Bhd (Maybank) and CIMB Group Holdings Bhd, said last week they expect Bank Negara Malaysia to cut the overnight policy rate (OPR) by another 25 basis points (bps) by year end, reflecting rising expectations of one. Just four months ago, ...

The Edge Financial Daily

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The Edge Financial Daily

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