<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 8): Homegrown automotive battery manufacturer ABM Fujiya Bhd is partnering with China’s Jujiang Power Technology Co Ltd (Jeje) to explore and evaluate the possibility of setting up a new battery manufacturing plant in Malaysia worth RM500 million.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, ABM Fujiya said its wholly-owned unit Amalgamated Batteries Manufacturing (Sarawak) Sdn Bhd has inked a Memorandum of Understanding (MoU) with Jeje for the purpose.</p></div>

<div class=newsTextDataWrapInner><p>The MoU creates no contractual relationship between ABM Fujiya and Jeje, but is aimed at providing a framework of cooperation and for any future term arrangement between the parties over batteries.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The directors of ABM Fujiya believe that a collaboration between ABM Fujiya and Jeje will give an advantageous platform to expand its existing batteries business and achieve better prospects in the future,” it said.</p></div>

<div class=newsTextDataWrapInner><p>ABM Fujiya closed half a sen or 0.96% higher at 52.5 sen, for a market capitalisation of RM94.5 million. The counter saw some 12,500 shares traded.</p></div>


Homegrown automotive battery manufacturer ABM Fujiya Bhd is partnering with China’s Jujiang Power Technology Co Ltd (Jeje) to explore and evaluate the possibility of setting up a new battery manufacturing plant in Malaysia worth RM500 million.

In a filing with Bursa Malaysia today, ABM Fujiya said its wholly-owned unit Amalgamated Batteries Manufacturing (Sarawak) Sdn Bhd has inked a Memorandum of Understanding (MoU) with Jeje for the purpose

ABM Fujiya inks MoU with Chinese firm for battery manufacturing plant

Oil surged after Iran fired rockets at Israel, raising the risk of supply disruptions in a region that pumps a third of the world’s crude.

West Texas Intermediate jumped as much as 5.5% on Tuesday and held much of the day’s gains to settle near $70 a barrel as the market remained on edge while awaiting Israel’s potential retaliation.

Oil soars after Iran launches rockets at Israel in direct attack

The persistent rally in stocks was knocked for a loop Tuesday as investors retreated to safer corners of the market when the conflict in the Middle East intensified.

Haven assets were bid up with bonds, oil, gold and the US dollar all advancing after Iran fired a barrage of missiles at Israel following an advance of armed forces into Lebanon.

Stocks falter while havens gain on Mideast strife

Barclays plc said it expects a raft of senior dealmakers it’s hired in recent months to become more productive in the coming year, which executives hope will help them boost returns at the company’s investment banking division.

Barclays expects new dealmakers to take 18 months to ramp up

Some liquefied natural gas (LNG) traders are opting to pay fees for supplies they initially intended to send to Germany in order to chase higher profits in Asia, according to the nation’s state-owned terminal operator.

LNG traders choose to pay rather than shipping to Germany

Tesla Inc is expected to post its first quarterly sales increase this year after car buyers in China, the world’s largest electric vehicle (EV) market, seized on a sweetened government incentive.

Tesla sales perk up after China boosts electric vehicle subsidy

Samsung Electronics Co is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce global headcount by thousands of jobs, according to people familiar with the situation.

Samsung to lay off thousands of workers worldwide 

Sluggish car sales are expected to pick up later this year once the US presidential election is over and the Fed’s recent reversal on interest rates starts to ease financing costs.

US auto sales likely to pick up as rates fall and political uncertainty fades

Malaysian Prime Minister Datuk Seri Anwar Ibrahim is scheduled to make a brief visit to Bangladesh on Oct 4 to take forward the relations between the two countries to the next level by exploring new areas of cooperation and strengthening the ties in diverse areas, United News of Bangladesh (UNB) reported.

Anwar to visit Bangladesh on Friday to elevate relations to new heights

India’s securities regulator on Tuesday notified steps to limit a surge in equity derivatives trading in the nation after growing retail participation took the speculative bets to the highest in the world.

India clears steps to curb trading rush in stock derivatives

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

MISC, MHB, PA Resources, Tanco, Ho Hup, Central Global, Sunzen Biotech, Aemulus, Pharmaniaga, Plenitude, Pasdec

<p>Chinese automaking behemoth BYD Co&nbsp;set a new record for monthly deliveries, selling more than 400,000 vehicles in September for the first time.</p>

<p>Passenger vehicle sales last month came in at 417,603 units, BYD said in an exchange filing on Tuesday, including 164,956 battery electric cars and 252,647 plug-in hybrid models.&nbsp;</p>


BYD's monthly sales surge over 400,000 mark for first time

<p>Trading app e-Trade is now officially launched, enabling investors to participate in the stock market via Touch 'n Go eWallet.</p>

<p>TNG Digital Sdn Bhd’s e-Trade, powered by Affin Hwang Investment Bank Bhd (Affin Hwang IB), is looking to enhance stock market participation by offering seamless convenience and accessibility through the platform.</p>


e-Trade app allows share trading via Touch 'n Go eWallet, aims for 100,000 users within a year

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


<p>Samsung Electronics Co is laying off workers in Southeast Asia, Australia and New Zealand as part of a plan to reduce global headcount by thousands of jobs, according to people familiar with the situation.</p>


<p>Ho Hup Construction Company Bhd (KL:HOHUP) said its 52%-owned unit, Golden Wave Sdn Bhd (GWSB), has obtained an interim restraining order from the High Court in Kota Kinabalu, shielding it from legal actions by its creditors.</p>

<p>This follows the dismissal of GWSB's application to be placed under judicial management by the High Court in Kuala Lumpur on the same day.</p>


Ho Hup unit gets restraining order against creditor following dismissal of judicial management application

<p>Plenitude Bhd (KL:PLENITU) has appointed chief financial officer (CFO) Ang Kooi Yong as its new chief executive officer, effective immediately.</p>

<p>Ang, 58, is succeeding Lee Wee Kee, 59, who resigned on Monday (Sept 30) due to personal reasons after serving as group CEO for 19 months.</p>


Plenitude promotes CFO Ang Kooi Yong to CEO

<p>MISC Bhd (KL:MISC) has signed a shipbuilding contract with Samsung Heavy Industries Co Ltd for the construction of two new liquefied natural gas (LNG) carriers, scheduled for delivery in 2027.</p>


MISC inks shipbuilding contract for two LNG carriers, secures long-term charter with Petronas

<p>Life Water Bhd has&nbsp;entered into an underwriting agreement with MIDF Amanah Investment Bank Bhd (MIDF Amanah IB) for its initial public offering (IPO) on the Main Market of Bursa Malaysia.</p>


Life Water inks underwriting agreement with MIDF Amanah for Main Market IPO

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EVENING 5: Five things you need to know today

<p>Equinix Inc&nbsp;has formed a joint venture (JV) with Canada Pension Plan Investment Board (CPP) and Singapore’s GIC Pte Ltd to develop new data centres.</p>

<p>Redwood City, California-based Equinix intends to raise more than US$15 billion (RM62.43 billion) in capital with its partners, according to a statement on Tuesday, confirming an&nbsp;earlier story&nbsp;by <em>Bloomberg News</em>. The company said it expects the JV to purchase land to build new facilities that may eventually add more than 1.5 gigawatts of new capacity for hyperscale customers.</p>


Equinix forms US$15b data centre JV with Canada Pension, Singapore's GIC

<p>RGB International Bhd (KL:RGB) said the Malaysian Anti-Corruption Commission’s (MACC) investigation into the company and its managing director Datuk Seri Chuah Kim Seah has been "completed and resolved".</p>


RGB says MACC probe into company, MD is 'completed and resolved'

<p>ACE Market-listed automated test equipment (ATE) manufacturer Aemulus Holdings Bhd (KL:AEMULUS) said it is taking full control of its loss-making Chinese associate company Tangming Shengshi Technology (Jiashan) Co Ltd (TMSS) before looking for new investors to turn around the firm.</p>


Aemulus to seek new investors for loss-making Chinese subsidiary

<p>PA Resources Bhd (KL:PA) said its wholly owned subsidiary has secured a 0% dumping rate for its aluminium extrusion exports to the US.</p>


PA Resources secures 0% dumping rate from US for aluminium extrusion exports

<p>Adopting the right narrative and the courage to make some tough decisions has contributed to the ringgit’s rise to become the world's best-performing currency against the US dollar.</p>


Govt’s strong narrative positions ringgit as world's best-performing currency, says Rafizi

<p>Tesla Inc is expected to post its first quarterly sales increase this year after car buyers in China, the world’s largest electric vehicle (EV) market, seized on a sweetened government incentive.</p>


<p>Pharmaniaga Bhd (KL:PHARMA) has appointed Datuk Seri Abdul Razak Jaafar as its independent and non-executive chairman, effective Tuesday.</p>

<p>Abdul Razak, 60, succeeds Izaddeen Daud, 55, who has been redesignated as the group's non-independent and non-executive director.</p>


Pharmaniaga names Abdul Razak Jaafar as new chairman

<p>US job openings rose in August to a three-month high, a development at odds with other data indicating slowing demand for workers.</p>

<p>Available positions increased to 8.04 million from a revised 7.71 million reading in July, led by the construction and state and local government sectors, the Bureau of Labor Statistics Job Openings and Labor Turnover Survey showed on Tuesday. The median estimate in a <em>Bloomberg </em>survey of economists called for 7.69 million openings.</p>


US job openings climb to three-month high, exceeding forecasts

<p>Malaysia Marine and Heavy Engineering Holdings Bhd (KL:MHB) has secured a RM43 million subcontract from a subsidiary of Uzma Bhd (KL:UZMA) for the conversion of a mobile offshore drilling unit (MODU) into a mobile water injection facility (WIF).</p>


MHB bags RM43m subcontract from Uzma for mobile offshore drilling unit conversion

<p>The government takes into careful consideration every application for infrastructure development funding in budget planning and policy implementation, said&nbsp;Deputy Finance Minister Lim Hui Ying.</p>


Govt duly considers all infrastructure development applications, says Hui Ying

<p>Government bonds rallied and traders positioned for swifter interest-rate cuts in Europe, as signs grow the region’s economy is in need of looser monetary policy.</p>
