The five telecommunications groups that enrolled themselves to subscribe for shareholdings in Malaysia’s 5G network wholesaler Digital Nasional Bhd (DNB) are required to finalise their respective share subscription agreements (SSAs) over the next 20 days, according to a Bernama report on Tuesday.

Telcos given 20 days to finalise their agreements to subscribe for DNB shares, says Fahmi

Microsoft on Monday debuted a new category of personal computers with artificial intelligence (AI) features as it rushes to build the emerging technology into products across its business and compete with Alphabet and Apple.

Microsoft debuts 'Copilot+' PCs with AI features

A comeback in storage drive demand has helped JCY International Bhd (KL:JCY) return to the black in the second quarter ended March 31, 2024 (2QFY2024) after eight straight quarters of losses.

Comeback in storage drive demand sees JCY International return to black in 2Q

Scale AI Inc, a startup that helps top tech companies improve the data used to build artificial intelligence products, has roughly doubled its valuation to US$13.8 billion (RM64.77 billion) and is raising US$1 billion in one of the largest financing deals of the year.

Scale valued at nearly US$14 bil with funding from Amazon, AMD

ByteDance Ltd has acquired Chinese earphone maker Oladance for around US$50 million (RM234.71 million), its latest step towards developing wearable devices that could become the next home for its tech after smartphones.

ByteDance acquired earbud maker Oladance for future hardware, Bloomberg reports

One point of criticism was particularly emphatic: The Chinese are seeking to dominate the market for less advanced chips, mature nodes (25nm and above), and the CHIPS Act does not address that. The stated goal of the policy is chip supply chain independence for the US, Asia Times reported.

The missing piece in US chip policy — report

Apple Inc is challenging a €1.8 billion (US$1.9 billion or RM9.19 billion) fine levied by the European Union (EU) for thwarting fair competition from music-streaming rivals, including Spotify Technology SA.

The iPhone maker has filed a suit in the EU’s General Court in Luxembourg to topple the March decision, according to people familiar with the matter, who spoke on condition of anonymity.

Apple fights €1.8b EU antitrust fine for curbs on Spotify

Alibaba Group Holding Ltd slashed prices for a clutch of artificial intelligence (AI) services by as much as 97%, spurring an immediate response from Baidu Inc in potentially the start of a price war in China’s nascent AI market.

Alibaba sparks China AI price war with spate of steep discounts

ASML Holding NV and Taiwan Semiconductor Manufacturing Co have ways to disable the world’s most sophisticated chipmaking machines in the event that China invades Taiwan, according to people familiar with the matter.

ASML and TSMC can disable chip machines if China invades Taiwan, Bloomberg reports

Tencent Holdings Ltd suspended the highly anticipated Dungeon & Fighter Mobile within an hour of its Chinese debut Tuesday, suggesting strong initial demand for a blockbuster title that investors hope will drive revenue growth in 2024.

Tencent suspends blockbuster game within an hour of China debut

Vietnamese officials have called on Apple supplier Foxconn to voluntarily reduce power use by 30% at its assembly plants in the north of the country where there were electricity outages last year, two people familiar with the matter said.

Apple supplier Foxconn among firms asked to cut power use in Vietnam — Reuters

Alpha Intelligence Capital (AIC), which invests in artificial intelligence companies including OpenAI, is raising a US$250 million (RM1.17 billion) fund and has attracted government-owned entities from France and Singapore as backers.

Temasek backs OpenAI investor’s new US$250 mil tech fund

Dell Technologies Inc is unveiling a new line of personal computers (PCs) optimised for artificial intelligence (AI) tasks, betting that they will help rejuvenate a long-struggling business.

“We are going to be delivering them in volume” this year, chief executive officer Michael Dell said in an interview. By next year, “it’ll be pretty standard”.

Michael Dell says AI PCs will be ‘pretty standard’ in 2025

Tesla Inc workers are living in fear of the “Dear Employee” layoff email.

Chaos reigns inside Tesla as workers await next slew of job cuts

KUALA LUMPUR (May 22): Property developer Skyworld Development Bhd (KL:SKYWLD) said on Tuesday (May 21) that its net profit for the fourth quarter was down 64% from a year earlier, mainly on lower revenue and higher expenses.

Skyworld’s 4Q net profit down 64%, plans projects worth RM1b in FY2025

The Asean+3 region is home to some of the world’s most innovative and technologically advanced economies. This region has accounted for over 60% of global patents since the early 2010s, primarily contributed by China, Japan and South Korea.

Asean+3: A technology powerhouse in the making

The world today is becoming more connected, paving the way for collaborative research initiatives that are increasingly becoming the cornerstone in addressing complex global challenges. Universities play a pivotal role in fostering such collaborations, leveraging their diverse expertise and resources to make a meaningful impact on society.

Collaborative Research Initiatives for a Global Impact

Sixteen Malaysians were among the 211 passengers aboard Singapore Airlines (SIA) flight SQ321 from London to Singapore that was forced to make an emergency landing at Suvarnabhumi Airport, on Tuesday afternoon.

16 Malaysians among passengers aboard London-Singapore flight SQ321

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

Pos Malaysia, Hartalega, Kossan, Hong Seng, Sunway, PetDag, Affin, Bank Islam, Hibiscus, LBS, Sime Darby Property, Lagenda Properties

Magma Group Bhd (KL:MAGMA), formerly known as Impiana Hotels Bhd, plans to undertake an issuance of redeemable convertible notes (RCNs) to raise up to RM100 million to repay borrowings and fund working capital.

Magma plans to raise RM100 mil via redeemable convertible note issuance  

Prime Minister Datuk Seri Anwar Ibrahim on Tuesday said that the government is taking it seriously to develop the progressive wage policy (PWP) to address the issue of low wages, especially among the younger generation and graduates.

Govt pledges to break stagnant wage with progressive wage policy — PM

KNM Group Bhd (KL:KNM) has received a written notice from a solicitor proposing the appointment of new directors for its upcoming annual general meeting (AGM) scheduled for June 6, 2024.

KNM receives nomination for new directors ahead of June 6 AGM

Hextar Industries Bhd (KL:HEXIND) saw its net profit tumble 78.1% year-on-year for the first quarter ended March 31, 2024 (1QFY2024), dragged by lower average selling prices (ASP) and higher raw material costs due to the weaker ringgit despite higher sales volume of fertilisers

Hextar Industries posts 78% drop in 1Q earnings on lower ASP, higher raw material costs

LBS Bina Group Bhd’s (KL:LBS) net profit rose by a marginal 0.11% to RM30.53 million in the first quarter ended March 31, 2024 (1QFY2024), from RM30.5 million a year earlier, helped by increased contribution from its property development business. Earnings per share increased to 1.49 sen from 1.48 sen.

LBS posts flat 1Q net profit as revenue drops to lowest in nearly three years

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

KNM Group Bhd (KL:KNM) has received a written notice from a solicitor proposing the appointment of new directors for its upcoming annual general meeting (AGM) scheduled for June 6, 2024.

Sixteen Malaysians were among the 211 passengers aboard Singapore Airlines (SIA) flight SQ321 from London to Singapore that was forced to make an emergency landing at Suvarnabhumi Airport, on Tuesday afternoon.

Prime Minister Datuk Seri Anwar Ibrahim on Tuesday said that the government is taking it seriously to develop the progressive wage policy (PWP) to address the issue of low wages, especially among the younger generation and graduates.

The Selangor police have confirmed summoning Hulu Kelang state assemblyman Datuk Seri Mohamed Azmin Ali to provide a statement at the Shah Alam district police headquarters under Section 112 of the Criminal Procedure Code.

Police confirm Azmin summoned for statement in probe into PKNS info leak

Malaysia recorded an encouraging economic achievement in the first quarter (1Q) of 2024 at 4.2%, surpassing the expectations of many parties who projected the growth rate at 3.9%, said Prime Minister Datuk Seri Anwar Ibrahim.

Economic achievement in 1Q 2024 very encouraging — Anwar

Perdana Petroleum Bhd (KL:PERDANA) booked a net profit of RM6.07 million in the first quarter ended March 31, 2024 (1QFY2024), as opposed to a net loss of RM8.26 million a year before, amid continued strength in demand for offshore support vessels (OSVs) for offshore production operations and maintenance activities.

Perdana Petroleum delivers RM6.1 mil net profit in 1Q amid sustained OSV demand

The country's investment record is expected to jump further this year compared to 2023, evidenced by potential foreign investments totalling RM76.1 billion that have been successfully attracted as of March 2024, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia's investment record to jump further this year, says Anwar

The Perak state government is awaiting federal government approval for Colebrand International Ltd, a UK-based mega infrastructure engineering company, to begin a field study for the construction of a new international airport.

Perak awaiting federal govt approval to proceed with study on new airport

Hextar Industries Bhd (KL:HEXIND) saw its net profit tumble 78.1% year-on-year for the first quarter ended March 31, 2024 (1QFY2024), dragged by lower average selling prices (ASP) and higher raw material costs due to the weaker ringgit despite higher sales volume of fertilisers&nbsp;

Magma Group Bhd (KL:MAGMA), formerly known as Impiana Hotels Bhd, plans to undertake an issuance of redeemable convertible notes (RCNs) to raise up to RM100 million to repay borrowings and fund working capital.

The Asean+3 region is home to some of the world’s most innovative and technologically advanced economies. This region has accounted for over 60% of global patents since the early 2010s, primarily contributed by China, Japan and South Korea.

KUALA LUMPUR (May 22): Property developer Skyworld Development Bhd&nbsp;(KL:SKYWLD) said on Tuesday (May 21) that its net profit for the fourth quarter was down 64% from a year earlier, mainly on lower revenue and higher expenses.

European Union (EU) countries have formally adopted a plan to use windfall profits from Russian central bank assets frozen in the EU for Ukraine's defence, the Belgian government said on Tuesday.

EU countries adopt plan to use profits from frozen Russian assets for Ukraine's defence

The tech-heavy Nasdaq fell on Tuesday as investors grew cautious ahead of artificial intelligence (AI) chip leader Nvidia's earnings this week and Federal Reserve (Fed) officials emphasised the central bank is in no hurry to ease interest rates.

Nasdaq slips from record high on Fed policy caution, Nvidia results watch

LBS Bina Group Bhd’s (KL:LBS) net profit rose by a marginal 0.11% to RM30.53 million in the first quarter ended March 31, 2024 (1QFY2024), from RM30.5 million a year earlier, helped by increased contribution from its property development business. Earnings per share increased to 1.49 sen from 1.48 sen.

The government will take stern action against extremists and agitators of recent violent incidents in the country, said Prime Minister Datuk Seri Anwar Ibrahim.

Govt to act firmly against perpetrators of violence, ensures calm — PM 

Security measures over government buildings, public spaces, and critical facilities have been heightened following recent breaches, announced Royal Malaysian Police (PDRM) director of management Datuk Seri Azmi Abu Kasim.&nbsp;

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