<div class=newsTextDataWrapInner>SINGAPORE (Feb 12): Asataka Holdings reported 2Q18 earnings rose by 13.6% to RM9.34 million (S$3.13 million) compared to RM8.23 million in 2Q17.</div>

<div class=newsTextDataWrapInner>Revenue increased by 66.1% to RM112.0 million from RM67.4 million a year ago, mainly attributable to revenue streams generated from the group’s additional projects such as Johor Bahru’s City Council, Majlis Bandaraya Johor Bahru (MBJB) and housing development in Pengerang (Bukit Pelali @Pengerang).</div>

<div class=newsTextDataWrapInner>Cost of sales also increased by 73.5% to RM93.9 million from RM54.1 million last year... <a href="https://www.theedgesingapore.com/astaka-2q-earnings-136-31-mil" target="_blank">(Click here to read the full story.)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (Feb 12): Asataka Holdings reported 2Q18 earnings rose by 13.6% to RM9.34 million (S$3.13 million) compared to RM8.23 million in 2Q17.

Revenue increased by 66.1% to RM112.0 million from RM67.4 million a year ago, mainly attributable to revenue streams generated from the group’...

Astaka 2Q earnings up by 13.6% to S$3.1m

The central bank also proposes to recategorise certain home financing products as personal financing, with a tenure cap of 10 years.

 BNM plans to abolish flat rate rule on personal financing products to prevent penalising early repayers

President-elect Donald Trump, with SoftBank Group CEO Masayoshi Son at his side, announced on Monday a US$100 billion (RM445 billion) investment in the US over the next four years in what would be a boost to the US economy.

Trump, SoftBank CEO announce US$100b US investment

The East Coast Rail Line (ECRL) project has achieved 76.06% progress as of November, Malaysia Rail Link (MRL) Sdn Bhd chief executive officer Datuk Seri Darwis Abdul Razak said.

The progress was on track to ensure that the project will be completed in December 2026 for the Kota Bharu to Gombak Integrated Terminal and then to Jalan Kastam in December 2027, he added.

ECRL project reaches 76% completion as of November — MRL

MicroStrategy shares rose about 3% on Monday as the software company and bitcoin buyer was set to join the tech-heavy Nasdaq 100 index, further brightening the prospects of the stock.

The US$25.7 trillion index that houses the largest non-financial companies will now gain indirect exposure to bitcoin via MicroStrategy, which holds US$44 billion worth of the digital currency on its balance sheet, about 2% of the total supply of the world's largest cryptocurrency.

Bitcoin buyer MicroStrategy's Nasdaq 100 entry to support stock rally

Canada's Finance Minister Chrystia Freeland quit on Monday after clashing with Prime Minister Justin Trudeau on issues including how to handle possible US tariffs, dealing another blow to an already unpopular government.

Canada's finance minister quits, in blow to Trudeau's government

Activity at US service providers is expanding at the fastest pace since October 2021, providing momentum for the economy even as the downturn in manufacturing worsens.

US services activity expands by most in more than three years

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

Gamuda, Winstar Capital, MClean, DRB-Hicom, Sapura Industrial, NTPM, Crest, M&G, George Kent, Infomina, Perdana Petroleum, Advancecon

The German parliament accepted Chancellor Olaf Scholz's invitation to withdraw its confidence in him and his government on Monday, clearing the way for the Feb 23 early election necessitated by the collapse of his government.

German parliament votes no-confidence in Chancellor Scholz, paving way for election 

The ringgit has strengthened by 2.8% against the US dollar as of Nov 22, 2024, according to the Ministry of Finance (MOF).

Ringgit strengthened 2.8% against US dollar as of Nov 2024 — MOF

America’s surprisingly robust economy has raised expectations that US interest rates will stay high compared to Europe next year.

The US-euro rate gap that triggered Trump’s Fed bashing is set to widen again

TRX City Sdn Bhd, master developer of the 70-acre Tun Razak Exchange (TRX), is going to build another office tower, which is expected to have a net lettable area (NLA) of 800,000 sq ft. The new building will be on Lot C7-10, which is adjacent to HSBC Malaysia’s headquarters, Menara IQ.

...

TRX City to build another office block, secures PwC as anchor tenant

Malaysian autos firm Proton launched its first electric vehicle on Monday, the latest entry into the local market as the country seeks to boost EV and hybrid EV use and gain a foothold in the global supply chain.

Proton launches its first electric vehicle

DRB-Hicom Bhd (KL:DRBHCOM) said has inked memoranda of understanding (MOU) with two government bodies, namely with Malaysian Investment Development Authority (Mida) and Malaysia Automotive, Robotics and IoT Institute (MARii) to promote the enhancement and transformation of Malaysia’s automotive industry in the Automotive Hi-Tech Valley (AHTV) project in Tanjung Malim, Perak.

DRB-Hicom, Geely ink MOUs with Mida, MARii to spearhead next-gen vehicle production in Tanjung Malim

THE Home Ministry is believed to have awarded Datasonic Group Bhd (KL:DSONIC) a new five-year contract for the supply of Malaysian passports. This is the first contract renewal since November 2021, when the original contracts expired.

According to sources privy to the deve­lopment, the ...

Datasonic finally secures new contract for Malaysian passports, say sources

Indonesia’s largest party has officially expelled former president Joko Widodo after he spurned the party’s own candidate in February elections and backed Prabowo Subianto’s successful campaign to become leader of Southeast Asia’s biggest economy.

Indonesia’s largest party expels Jokowi after he backed Prabowo

Ningbo Deye Technology Co, a Chinese inverter producer, plans to invest up to US$150 million (RM667.5 million) in building a solar equipment manufacturing base in Malaysia.

Chinese inverter maker plans US$150m solar base in Malaysia

KUALA LUMPUR (Dec 16): Pengerang Energy Complex Sdn Bhd (PEC)&nbsp;has negotiated financing terms for US$3.5 billion (RM15.58 billion) in project financing from&nbsp;export credit agencies (ECAs) across North America, western and southern Europe, as well as Asia; and Islamic financing from Islamic Development Bank entities.

Pengerang Energy Complex secures US$3.5b project financing from global export credit agencies

The central bank also proposes to recategorise certain home financing products as personal financing, with a tenure cap of 10 years.

KUALA LUMPUR (Dec 16): Proton's first electric vehicle (EV), the e.MAS 7, will be the official car for Malaysia's Asean Chairmanship in 2025, Prime Minister Datuk Seri Anwar Ibrahim unveiled on Monday.

He said Malaysia hopes to set an example in this region in promoting the development ...

e.MAS 7 to be Asean 2025 official car — Anwar

Singapore's ChemOne Group has delayed the start of its Pengerang Energy Complex (PEC) to the fourth quarter of 2028, with construction set to begin by mid-2025, it said on Monday, after securing more financing for the project.

Singapore's ChemOne delays Pengerang complex's start to 2028

Imaging company Crest Group Bhd (KL:CREST), which was listed on the ACE Market two months ago, said it is acquiring an industrial property in Puchong, Selangor for RM16.5 million to establish its new headquarters.

Crest Group acquires industrial property in Puchong to house new HQ

The National Higher Education Fund Corp (PTPTN) expects dividends for its Simpan SSPN savings plan to increase in 2024, buoyed by improved investment performance and strategic fund management.

PTPTN sees better SSPN dividends amid stronger investment returns

The Cabinet paper outlining the direction of the Multi-Lane Free Flow (MLFF) system will be presented in January 2025, Deputy Minister of Works Datuk Seri Ahmad Maslan said.

He said the Works Ministry had issued letters to the highway concession companies involved in the MLFF project, informing them that negotiations would no longer proceed.

Multi-Lane Free Flow direction paper to be presented to Cabinet in Jan 2025 — Ahmad

Asian markets wavered on Monday, with the Malaysian ringgit and Indonesian rupiah dipping slightly and stocks trading lower as investors await rate decisions this week from local central banks and the US Federal Reserve.

Indonesian rupiah, Malaysian ringgit extend losses; markets eye rate calls

Allianz SE withdrew an offer to buy a majority stake in Singapore’s Income Insurance Ltd for about S$2.2 billion (US$1.6 billion or RM7.56 billion), dealing a blow to its ambitions in a key growth market.

Allianz pulls out of US$1.7 bil bid to buy stake in Singapore insurer

Export of palm oil and related products reached RM99.3 billion in January-November 2024, an increase of RM12.5 billion compared to the same period in 2023.

Export of palm oil, related products hit RM99.3b in Jan-Nov 2024 — Johari  

TopVision Eye Specialist Bhd (KL:TOPVISN) said it would be premature to comment on the potential impact of the government's recent intention to regulate charges for private healthcare providers.

TopVision: Too early to assess impact of govt's move to regulate healthcare charges

George Kent (Malaysia) Bhd (KL:GKENT) has secured a RM45.5 million contract from Kwasa Land Sdn Bhd for the Kwasa Damansara township development in Sungai Buloh, Selangor.

George Kent clinches RM46m infrastructure project in Kwasa Damansara

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

The Malaysian Meteorological Department (MetMalaysia) has issued a warning of continuous heavy rain expected to occur in four states over the next three days, beginning Monday.

According to MetMalaysia, the affected areas include the entire states of Kelantan and Terengganu, as well as Hulu Perak in Perak. In Pahang, the warning covers the districts of Jerantut, Maran, Kuantan, Pekan and Rompin.