KUALA LUMPUR: Concerned that the palm oil refineries are “springing up like mushrooms”, the Palm Oil Refiners Association of Malaysia (Poram) has called for an immediate freeze on the issuance of new licences.

The association said there are now 53 refineries with an annual refining capa...

Stop issuing refining licences — Poram

KUALA LUMPUR (Oct 12): The drastic change of market sentiment has dampened OSK Holdings Bhd’s plan to list its cable business, OCC Cables Ltd, on the Main Board of the Hong Kong Stock Exchange.

OSK Holdings has decided not to proceed with the listing due to the current adverse global ma...

OSK Holdings decides not to proceed with listing of cables business on Hong Kong bourse

KUALA LUMPUR (Oct 12): MNC Wireless Bhd’s external auditor, Siew Boon Yeong & Associates, has resigned from its position effective Nov 1.

"The resignation is on a voluntary basis as the company could not reach a consensus on the proposed audit fees for the financial year ending Dec ...

MNC’s external auditor resigns over fees     

KUALA LUMPUR (Oct 12): My E.G. Services Bhd (MyEG) has received a letter of intent (LoI) from Universiti Utara Malaysia (UUM) to work together and deploy their respective expertise, knowledge and resources to conduct academic programmes.

In a bourse filing today, MyEG said the contract ...

UUM wants to work with MyEG in conducting academic programmes   

KUALA LUMPUR (Oct 12): The FBM KLCI closed 22.25 points or 1.3% higher on bargain hunting and as Asian stock markets tracked US equity futures' rise.

At 5pm, the KLCI ended at 1,730.74 points as KLCI-linked stocks Petronas Gas Bhd, Tenaga Nasional Bhd and Malayan Banking Bhd ended among...

FBM KLCI up 22.25 points with US equity futures

KUALA LUMPUR: Top Glove Corp Bhd’s net profit grew 7.5% to RM101.59 million in the fourth quarter ended Aug 31, 2018 (4QFY18) from RM94.49 million a year ago, on higher sales volume.

This resulted in higher earnings per share of 7.95 sen for 4QFY18 compared with 7.54 sen for 4QFY17....

Top Glove ends FY18 on strong note, proposes 10 sen dividend

KUALA LUMPUR (Oct 11): Cuscapi Bhd, which is currently operating from leased premises, is acquiring a commercial space at Empire City in Damansara Perdana for RM20 million.

The group said it is buying the space, located within the podium level below MyEG Tower, from Cosmopolitan Avenue ...

Cuscapi buys commercial space at Empire City for RM20m

KUALA LUMPUR (Oct 11): Barakah Offshore Petroleum Bhd has secured a five-year contract to provide maintenance, construction and modification work for structures and facilities in oil and gas fields offshore Peninsular Malaysia.

Barakah said its wholly-owned subsidiary PBJV Group Sdn Bhd...

Barakah secures five-year maintenance contract from Hess Exploration

KUALA LUMPUR (Oct 11): The FBM KLCI dropped 26.69 points or 1.54% today to end at 1,708.49 in tandem with Asian shares on what appeared to be a knee-jerk reaction to US stocks' overnight tumble.  

At Bursa Malaysia today, the five KLCI stocks leading the fall of the KLCI, in percen...

FBM KLCI down 1.54% as Wall Street tumble hits world markets

KUALA LUMPUR (Oct 11): Total outstanding Malaysian Government Securities (MGS) and Government Investment Issues (GII) came in lower for the first time in September at RM702.2 billion (August 2018: RM706.1 billion) since February, according to Malaysian Rating Corporation Bhd (MARC).

The...

MARC: Total outstanding MGS, GII down in September, first fall since February

Angkatan Muda Keadilan (AMK) said PAS president Tan Sri Abdul Hadi Awang's remark that "even the worst Muslim ruler is less oppressive than a non-Muslim ruler" was an insult to the country's non-Muslim community.

PKR youth wing condemns Hadi Awang's remarks as insulting to non-Muslims in Malaysia

Magma Group Bhd (KL:MAGMA) has scrapped its plan to acquire the LUMA Hotel in Kota Kinabalu for RM60.9 million in a cash-and-shares deal.

Magma abandons planned RM61m acquisition of Sabah hotel

Bird's nest company MyMBN Bhd (KL:MBN) has proposed a bonus issue of up to 193 million warrants, alongside an employees’ share option scheme (ESOS).

MyMBN proposes one-for-two bonus warrants

A more than 12-hour outage of Microsoft Outlook and Teams crippled communications for businesses and governments globally on Friday, forcing some organisations to revert to fax machines and halting at least one bond repurchase in Europe.

Hours-long Microsoft outage disrupts businesses, governments globally

Zetrix AI Bhd (KL:ZETRIX) has proposed to ring-fence all future collections and to make multiple bullet payments over a short period of time to resolve the outstanding amounts owed to the Road Transport Department (JPJ).

Zetrix AI moots ring-fencing and bullet payments to clear JPJ arrears

Just when global bond investors were starting to believe the worst of this year’s rout was over, surging Treasury yields are making them think again.

Investors warn bond rout not over after week of soaring yields

High jet fuel prices since the start of Middle East tensions are likely to stay, putting airlines in a dilemma over fare hikes.

Airlines in fare hike dilemma as high jet fuel prices likely to stay — industry body

A car bomb in Moscow wounded a onetime spokesman for a pro-Russian former prime minister of Ukraine on Friday, Russian investigators said, the second such explosion in the country in two days.

Moscow car bomb wounds former aide to pro-Russian Ukrainian politician

Colette Kress spent years as the one Nvidia executive willing to check CEO Jensen Huang’s enormous, often risky ambitions. As he drove the chipmaker deeper into multibillion-dollar AI investments, she pushed back, according to two people familiar with the matter on Thursday.

Colette Kress, the CFO who challenged Huang's bets, is Nvidia's interim CEO

Bitcoin fell below US$70,000 (RM285,397) on Friday for the first time since August, extending a two-day slump to as much as 9% as concerns about inflation and higher interest rates weighed on cryptocurrencies.

Bitcoin slides below US$70,000 as inflation concerns hurt crypto

A more than 12-hour outage of Microsoft Outlook and Teams crippled communications for businesses and governments globally on Friday, forcing some organisations to revert to fax machines and halting at least one bond repurchase in Europe.

KUALA LUMPUR (Nov 13): Ministry of Investment, Trade and Industry (Miti) said on Friday that it has never cleared Singapore-based Megaspeed International Pte Ltd or its Malaysian affiliate Speedmatrix Sdn Bhd.

Miti says never cleared Megaspeed or Malaysian affiliate Speedmatrix

(Nov 13):&nbsp;Earlier this year, Malaysia’s Zetrix AI Bhd (KL:ZETRIX) was preparing to list its artificial intelligence unit on Nasdaq and had even built an AI avatar of Prime Minister Anwar Ibrahim. Now the onetime digital infrastructure star has lost more than 90% of its market value, is mired in debt and risks defaulting on its Islamic bonds.

Ex-Malaysia digital star that built PM’s avatar is mired in debt

The High Court has dismissed a bid to remove court-appointed administrators overseeing the RM1.6 billion inheritance belonging to the late Lim Siew Kim, daughter of the Genting founder.

Siew Kim's son fails in bid to remove court-appointed administrators overseeing RM1.6 bil estate

Singapore charged a fifth person in a fraud case linked to the export of computer hardware suspected of containing Nvidia Corp chips subject to US trade restrictions.

Singapore charges fifth person as Nvidia case expands

KUALA LUMPUR (Nov 12): Lawyer Sangeet Kaur Deo has applied to the High Court to discharge herself from representing comedian Harith Iskander in a lawsuit brought by Datin Seri Rosmah Mansor.&nbsp;

Harith Iskander's lawyer applies to withdraw from Rosmah's lawsuit

Malaysia is weighing how to support AirAsia without risking public funds and will not simply pump money into the private airline, said Anthony Loke, who resigned this week as the nation's transport minister.

Malaysia weighing how to aid AirAsia without risking public funds, ex-minister says

KUALA LUMPUR (Nov 13): Malaysia Airlines has held no discussions with the government about absorbing AirAsia Group Bhd’s (KL:AAGB) domestic market share or taking over its aircraft, amid reports of efforts to the budget carrier's financial pressures.

Malaysia Airlines: No talks with govt taking over AirAsia’s routes or aircraft

KUALA LUMPUR (Nov 13):&nbsp; There has been no indication that artificial intelligence chips linked to the Nvidia-Megaspeed issue were exported from Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.m.

PM: No indication AI chips were exported from Malaysia in Nvidia-Megaspeed case

Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim faces his third electoral test this year when the state of Melaka goes to the polls on Saturday, after a frantic week in which a key minister quit over the controversial transfer of jailed former PM Datuk Seri Najib Razak to house arrest.

Anwar faces voter test after turbulent week in Malaysia politics

Thousands of hectares of land on palm oil and pulpwood concessions run by large listed firms were burnt during Indonesia's worst fire season in years, highlighting the role of deforestation and land clearing, a study showed on Friday.

Indonesia's forest fires caused a spike in respiratory illness at home and triggered air pollution warnings and school closures across the region, with fire emissions surging to three times the seasonal average.

Thousands of hectares burnt on land owned by listed Indonesian firms, study shows 

Malaysia’s benchmark stocks ended Friday at a fresh 14-month low as investors continued to trim investments related to data centres.

KLCI ends the week at fresh 14-month low, analysts see rebound later

Palm oil prices are expected to recover in the coming months with the impact of El Niño-induced drought on production expected to materialise in the first quarter of 2027, mainly in top producer Indonesia, leading industry analysts said on Friday.

Palm oil prices set to recover in coming months as production tightens, analysts say

Malayan Banking Bhd (KL:MAYBANK) has appointed former Malaysia Aviation Group (MAG) group managing director and airline group chief executive officer Datuk Captain Izham Ismail as an independent non-executive director.

Maybank appoints former MAG CEO Izham Ismail as independent director

KUALA LUMPUR (Nov 13): PIE Industrial Bhd (KL:PIE) jumped on Friday after the electronic manufacturing services firm reported a stronger than expected quarter.

PIE Industrial surges after better than expected results

Southeast Asia risks facing tighter US regulations on the export and use of high-powered chips, threatening to stall the region’s AI-fuelled economic boom.

Post-Jensen US chip curbs threaten Southeast Asia’s AI boom

NEW DELHI/PERTH (Nov 13): Oil prices inched down on Friday and were headed for a second weekly decline as a continued US blockade of Iran eased fears of renewed fighting in the Middle East, though shipping attacks remained a supply risk.

Oil prices set for second weekly decline as Trump sticks with Iran blockade

A Singaporean businessman pleaded not guilty in the Sessions Court here Friday to a charge of criminal breach of trust involving 500,000 shares belonging to a company, four years ago.

Singaporean businessman charged with CBT over transfer of share units 

The higher average selling prices (ASPs) that lifted Hartalega Holdings Bhd's (KL:HARTA) second-quarter earnings may be difficult to sustain in the coming quarter, as easing crude oil prices threaten to reverse the recent improvement in the rubber glove maker's margins, according to analysts.

Hartalega's average selling price-driven 2Q boost is difficult to sustain — analysts

Delays in aircraft deliveries could disrupt Malaysia Airlines’ expansion plans and weigh on its future earnings, said its president and group chief executive officer Captain Nasaruddin A Bakar.

Neily Syafiqah Eusoff

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