The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives extended its decline on Thursday, weighed down by weaker edible soft oils and cautious trading ahead of April’s palm oil data on Friday.

Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said the decline reflects cautious positioning ahead of the industry data due on May 10, focusing on the extent of April’s production rise.

CPO futures extend decline amid weaker edible soft oils

China is considering a proposal to exempt individual investors from paying dividend taxes on Hong Kong stocks bought via Stock Connect, according to people with knowledge of the matter.

Regulators including the China Securities Regulatory Commission and the State Taxation Administration are reviewing a plan submitted by Hong Kong to waive the 20% tax on dividends from Hong Kong stocks bought via the link that connects to Shanghai and Shenzhen, the people said, asking not to be named discussing private information.

China mulls dividend tax waiver on Hong Kong Stocks Connect

MAA Group Bhd (KL:MAA), a substantial shareholder of KNM Group Bhd (KL:KNM), has extended a RM13.5 million loan to address the working capital requirements of the Practice Note 17 (PN17) company.

The loan, bearing an interest rate of 12% per annum, was provided to KNM's wholly-owned subsidiary, KNM Process Systems Sdn Bhd (KNM PS) on May 8.

MAA loans RM13.5 mil to KNM for working capital

The continued uncertainties over China's economic growth prospects and the recent geopolitical crisis have increased US dollar demand as a safe-haven asset, said Bank Negara Malaysia (BNM) deputy governor Adnan Zaylani Mohamad Zahid.

“Much has been made of the performance of the ringgit against the US dollar. Unfortunately, many see and use this as an indicator or barometer of how we are doing.

Ringgit has been unfortunately, unfairly assessed against US dollar — BNM deputy governor

The Water Services Industry (Registration of Supplier) Rules 2023, which came into force on Jan 1, will improve the quality and safety of products used in the water supply and sewerage services industry.

The National Water Services Commission (SPAN) said in a statement on Thursday that the rules would further enhance the registration of suppliers, in addition to ensuring the product suppliers meet the stipulated standards.

New water services industry rules enhance product quality, safety — SPAN

NEW DELHI (May 9): Malaysia's former health minister Khairy Jamaluddin Abu Bakar has been named a member of India-based Fischer Medical Ventures Ltd's board.

The company, formerly known as Fischer Chemic Ltd, announced his appointment as additional director in the capacity of independen...

Khairy Jamaluddin named member of India-based company's board

The federal government is determined to eradicate hardcore poverty in Terengganu within the next two months, said Prime Minister Datuk Seri Anwar Ibrahim.

He said as of May 2, there were 1,663 families in the state still in the hardcore poor group.

Hardcore poverty in Terengganu to be eradicated in two months

The number of Americans filing new claims for unemployment benefits rose last week to the highest level in more than eight months, further evidence that the labour market was cooling.

US weekly jobless claims highest in more than eight months

Property developer Kerjaya Prospek Property Bhd (KL:KPPROP) will jointly develop a piece of freehold land in Aspen Vision City, Batu Kawan, Penang into a mixed development that will include a hotel and serviced apartments.

Kerjaya Prospek Property to jointly develop Penang plot with Aspen group

Prime Minister Datuk Seri Anwar Ibrahim on Thursday held a closed-door meeting with Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar and attended a briefing on the development of the state at Wisma Darul Iman here.

Anwar, Terengganu MB hold closed-door meeting

The property arm of Sunway Bhd (KL:SUNWAY), Sunway Property's newly launched Sunway Velocity 3 residential project has achieved a take-up rate of 60%, with over 400 out of 695 units snapped up during its opening weekend on May 4.

Sunway Velocity 3 residential development 60% taken up at launch 

Transport Minister Anthony Loke on Thursday said the ship allegedly owned by an Israeli company while using a port in this country has actually changed ownership. It now belongs to another company based in Hong Kong.

Alleged Israeli ship that recently docked in Malaysia has changed hands, Loke clarifies

A total allocation of RM180 billion in the construction sector for government and private sector projects will be up for grabs this year, according to Deputy Works Minister Datuk Seri Ahmad Maslan.

RM180 bil available for construction sector jobs this year — Ahmad Maslan

MEMBERS’ ability to decide not to transfer existing Employees Provident Fund (EPF) savings into the newly created Flexible Account 3 for anytime withdrawals is seen as the saving grace to what critics deem as a short-sighted compromise that will prove to have longer-term consequences.

I...

Cover Story: Who pays for anytime EPF withdrawals?

KUALA LUMPUR (May 9): The Securities Commission Malaysia has finally managed to charge a man related to a securities fraud involving RM17.6 million in 2007, following his arrest on his return to Malaysia on Wednesday (May 8) after having evaded authorities for 15 years.

Man who evaded the law for 15 years charged with abetment in securities fraud

Shares of Sarawak Cable Bhd (KL:SCABLE) fell to its lowest in five months on Wednesday after the loss-making cable manufacturer's so-called resuscitation exercise has been terminated.

Sarawak Cable shares fall to five-month low after losing its white knight

Malaysia’s central bank on Thursday left the benchmark interest rate unchanged as widely expected, citing improving economic activity amid moderate inflation.

BNM keeps overnight policy rate unchanged as widely expected

Solarvest Holdings Bhd (KL:SLVEST) said on Thursday that it has secured a contract worth RM40.4 million to install rooftop solar photovoltaic (PV) systems.

Solarvest bags RM40.4m contract from Scientex to install rooftop solar PV systems

Glove manufacturer Supermax Corp Bhd (KL:SUPERMX) is acquiring the remaining 33% equity interest in its 67%-owned subsidiary Supermax Healthcare Canada Inc (SHCI) for C$5.5 million (RM18.96 million) cash.

Supermax is acquiring the stake from Sylvain Bergeron, who has been a business partner of the company since 2004 when Supermax's founder and managing director Datuk Seri Stanley Thai Kim Sim partnered with Bergeron to start the Canadian branch of Supermax.

Supermax acquires remaining stake in 67%-owned loss-making Canadian unit for RM18.96 mil cash

MCE Holdings Bhd said Brahmal Vasudevan has emerged as a substantial shareholder with a 5.02% indirect stake in the automotive parts and accessories manufacturer.

Brahmal held 6.2 million shares in MCE via Creador Conscienta Ltd, who raised its stake beyond 5% following the acquisition of 100,000 shares earlier on Thursday.

Creador’s Brahmal emerges as substantial shareholder of MCE Holdings

Mah Sing Group Bhd (KL:MAHSING), via its unit Star Residence Sdn Bhd, officially launched its latest serviced apartment development named M Zenya in Kepong, Kuala Lumpur on May 9 during the opening ceremony of its sales gallery at Sungai Mas Plaza at Jalan Ipoh.

Mah Sing officially launches M Zenya serviced apartment in Kepong with 92% take-up

The Federal Court on Thursday agreed to hear the merits of the appeal filed by the National Feedlot Corporation Sdn Bhd (NFCorp) and four others, including its chairman Datuk Seri Mohamad Salleh Ismail, for damages against Public Bank Bhd (KL:PBBANK).

At the same time, the apex court also granted leave to Public Bank's cross-appeal, to challenge the outcome of the Court of Appeal’s decision that had overturned the High Court’s decision to grant RM10,000 in damages to NFCorp and others, and RM500,000 in costs to be paid by the bank.

Apex court allows merits of both NFCorp and Public Bank appeals to be heard in account info leak case

LBS Bina Group Bhd (KL: LBS) has launched SkyRia, the latest addition to its D'Island Residence project in Puchong.

LBS Bina launches RM457 mil SkyRia residential project in Puchong

The government must ensure that foreign direct investments (FDI) to develop data centres in Malaysia will benefit local players, according to speakers at the National Economic Forum 2024 here hosted by the National Chamber of Commerce and Industry of Malaysia.

Govt urged to ensure FDI on data centres benefit local players

Malaysia has launched the commercial trading of Renewable Energy Certificates (RECs) through the Malaysian Green Attribute Trading System (mGATS) to be operated by Tenaga Nasional Bhd (KL:TENAGA).

The commercial trading of the certificates through mGATS commenced on May 8, the Ministry of Energy Transition and Water Transformation (Petra) said in a statement. Tenaga will ensure that the certificates are internationally certified by reputable registries, such as the I-TRACK Foundation, it noted.

Malaysia kicks off Renewable Energy Certificates commercial trading

Malaysia’s largest telecom company by revenue Axiata Group Bhd (KL:AXIATA) may face earnings pressure from a potential merger of its unit PT XL Axiata with PT Smartfren Telecom in Indonesia, and investors should sell the stock, said MIDF Amanah Investment Bank.

MIDF says Axiata may face earnings pressure ahead, downgrades stock to 'sell'

Former finance minister Tun Daim Zainuddin has failed in his appeal to reinstate his legal challenge against the Malaysian Anti-Corruption Commission (MACC) over its investigation into his and his family’s finances, which had led to the freezing of their various accounts and the seizure of Ilham Tower.

Daim and family fail to reinstate legal challenge against MACC investigations and criminal charges

KUANTAN (May 9): An armoured vehicle plant will be built&nbsp;in the Padang Tengku Industrial Estate (Phase II) to further boost the development of the Lipis district as a defence city, thus stimulating the economic growth of the local population, as well as job opportunities.

Armoured vehicle plant to be built in Lipis — Pahang MB

Malaysia Airports Holdings Bhd (KL:AIRPORT) on Thursday named former Malaysian Aviation Commission (Mavcom) executive chairman Dr Nungsari Ahmad Radhi as its director effective immediately.

Former aviation regulator chairman Nungsari joins Malaysia Airports’ board

Home improvement products retailer Mr DIY Group (M) Bhd (KL:MRDIY) said on Thursday its net profit rose 13% in the first quarter from a year earlier thanks to sales from new stores, while margins expanded as supply chain disruption and freight costs eased.

Mr DIY 1Q net profit rises 13% on sales from new stores, higher margins; pays one sen dividend

SINGAPORE (Oct 24): Market research agency Nielsen on Monday says that some 54% of Singaporeans cannot imagine life without their mobile devices and 48% feel anxious without them.

In addition, Nielsen found that 73% of Singaporeans enjoyed the freedom of being connected anywhere, anytim...

Can’t do without your mobile device? You’re not alone

SINGAPORE (Aug 31): Ride-hailing firm Grab has signalled its intention to move beyond transportation.

The private hire car service operator on Wednesday launched its peer-to-peer fund transfer feature, allowing users to transfer credits
to others via its in-app mobile wallet....

This ride-hailing app now wants to grab a share of the e-payments pie

SINGAPORE (Aug 31): Singapore Myanmar Investo is placing out more than 15.4 million new shares at 48 cents each with the help of CLSA Singapore
to raise S$7 million in net proceeds.

The placement price represents a discount of about 8.5% to the volume weighted average price of 52...

Singapore Myanmar Investco to raise S$7 mil in private placement

SINGAPORE (Aug 31): CIMB is maintaining its “add” on Cityneon with target price of S$1.27 after the group announced the acquisition of JP Exhibition which holds global rights to the Jurassic World travelling
exhibition.

In 2016, /Jurassic World: The Exhibition/ made a six-month s...

Cityneon set to roar with Jurassic World acquisition, says CIMB

SINGAPORE (Aug 31): IPCO International says its auditors had been unable to obtain sufficient appropriate evidence regarding "the nature and veracity" of a transaction related to Xiaogan He Shun Investment Management Centre.

This was because IPCO’s auditors were unable to obtain suffici...

IPCO says auditors unable to verify dubious transactions as they had occurred recently

SINGAPORE (Aug 3): Maybank KimEng likes Manufacturing Integration Tech (MIT) for issuing a positive guidance for 1H17 and is expecting the group to return to profitability on resumption in orders.

In a unrated report for retail investors, analyst Teh Kwong Yew says, “The turnaround is s...

Manufacturing Integration Tech to gain from iPhone 8 launch

SINGAPORE (Aug 3): Michael Wong Pakshong, the Monetary Authority of Singapore’s (MAS) first managing director who served at the post from 1971 to 1981, passed away on Wednesday morning at the age of 86.

In a statement yesterday, MAS conveyed its condolences to Wong’s family, and remembe...

MAS first managing director Michael Wong Pakshong dies at 86

SINGAPORE (Nov 10): ST Engineering, the engineering solutions provider, posted a 42% decline in 3Q16 earnings to S$76.7 million, from S$133.3 million a year ago.

The weaker bottom line was mainly attributed to the land systems sector, which grew 5% in revenue to S$334 million, but repor...

ST Engineering’s 3Q earnings fall 42% to S$76.7 mil on one-off impairment charge

SINGAPORE (Nov 10): DBS Vickers Securities is maintaining its “hold” recommendation on Fraser and Neave Holdings (F&N), with a revised sum-of-parts-based target price of S$2.36.

While the food and beverage conglomerate on Monday posted a FY16 earnings decline of 83% to S$108.1 milli...

No fizz in F&N’s margins going into FY17

SINGAPORE (Nov 10): While the global economy continues to face an uncertain future with yesterday’s announcement of Donald Trump’s election as the 45th U.S. president, Citi Research is highlighting a silver lining which may appear for ASEAN investors in the medium- to long-term.

No doub...

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