<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 22): Boustead Heavy Industries Corp Bhd’s (BHIC) wholly-owned subsidiary has been awarded a contract worth RM78.14 million from the Ministry of Defence (Mindef) for the upkeeping of submarine facilities for the Royal Malaysian Navy.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing, BHIC said its BHIC Submarine Engineering Services Sdn Bhd (BSES) received the letter of acceptance from the Ministry on April 7 for the two-year job that will be in effect from Jan 1, 2021 until Dec 31, 2022.</p></div>

<div class=newsTextDataWrapInner><p>It expects the new contract to contribute positively to its earnings for the financial year ending Dec 31, 2021.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>BHIC's other subsidiary, Boustead Naval Shipyard Sdn Bhd, was appointed as the lead contractor of the RM9 billion littoral combat ships (LCS) programme, which aimed&nbsp;to build and deliver six advanced combat ships to the Royal Malaysian Navy.</p></div>

<div class=newsTextDataWrapInner><p>According to an article by Nik Mohamed Rashid Nik Zurin and Liew Chin Tong, the defence ministry had confirmed that RM6 billion out of the RM9 billion had been paid out, but the first ship was only 59.79% complete.</p></div>

<div class=newsTextDataWrapInner><p>BHIC’s shares settled half a sen or 1% higher at 50.5 sen today, giving the group a market capitalisation of RM125.47 million.</p></div>


Boustead Heavy Industries Corp Bhd’s (BHIC) wholly-owned subsidiary has been awarded a contract worth RM78.14 million from the Ministry of Defence (Mindef) for the upkeeping of submarine facilities for the Royal Malaysian Navy.

In a bourse filing, BHIC said its BHIC Submarine Engineering Services Sdn Bhd (BSES) received the letter of acceptance from the Ministry on April 7 for the two-year job that will be in effect from Jan 1, 2021 until Dec 31, 2022

BHIC gets RM78m submarine contract from Mindef

The Canadian economy eked out a small gain last month after a weaker-than-forecast third quarter (3Q), keeping the Bank of Canada on track to keep cutting rates.

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Selangor Agricultural Development Corporation’s (PKPS) Ehsan Rose Onion Crop project has managed to produce 28 tonnes of the small red onion in the first phase of its harvest involving 3.2 hectares (ha) of land.

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World Trade Organization chief Ngozi Okonjo-Iweala was reappointed for a second term at a special meeting on Friday, the trade watchdog said, meaning her tenure will coincide with US President-elect Donald Trump's second administration.

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Bursa Malaysia has approved Practice Note 17 (PN17) company Pharmaniaga Bhd’s (KL:PHARMA) regularisation plan, which was revised to adjust its capital reduction and exclude warrants from its rights issue, exactly a year after the initial iteration was announced.

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Nextgreen Global Bhd (KL:NGGB) saw a more than fourfold increase in its net profit for the third quarter ended Sept 30, 2024 (3QFY2024), driven by strong performance in its manufacturing segment.

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Lotte Chemical Titan Holding Bhd (KL:LCTITAN) has appointed a new president and chief executive officer as part of changes in board representatives of its South Korean parent company.

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Casual wear giant Uniqlo is facing a storm of online criticism in China, after a BBC report quoted the chief executive officer of its owner as saying the company does not source cotton from the far western region of Xinjiang.

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<p>Hextar Industries Bhd (KL:HEXIND) said on Friday it has signed an agreement to bring in Chinese coffee house chain Luckin Coffee to Malaysian shores.</p>


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<p>The sentence against Muar Member of Parliament Syed Saddiq Syed Abdul Rahman in his criminal case was not excessive, partly because as a lawmaker and an "idol" for youngsters, he should be held to a "higher standard", said the judge who convicted the young MP for misappropriation of party funds.</p>


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<p>Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest bank by assets, said on Friday that its net profit rose 12% in the third quarter from a year earlier, thanks to operating income growth.</p>


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<p>CelcomDigi Bhd (KL:CDB) on Friday named Dennis Chia as chief financial officer effective Jan 2, 2025 at the country’s largest mobile network operator by subscribers.</p>


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<p>Sapura Energy Bhd (KL:SAPNRG) announced on Friday the impending departure of its chairman Datuk Mohammad Azlan Abdullah and chief executive officer Datuk Mohd Anuar Taib.</p>


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<p>RHB Bank Bhd (KL:RHBBANK), the country’s fourth-largest lender by assets, announced that its third-quarter net profit grew 28% from a year earlier as the banking group booked sharp currency gains of RM659.86 million.</p>


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<p>Shares of Tenaga Nasional Bhd (KL:TENAGA) fell on Friday to their lowest in nearly four months, after the national electric utility reported weaker-than-expected third-quarter earnings.</p>


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<p>A port, a theme park and maybe even a Formula 1 race — those are just some of the things that one of Indonesia’s richest men believes can be hosted at his ambitious real estate project in North Jakarta.</p>


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<p>Low-cost, medium-haul airline AirAsia X Bhd (KL:AAX) reported a surge in net profit for the third quarter, as currency gains and higher revenue offset a jump in operating expenses.</p>

<p>Net profit for the quarter ended Sept 30, 2024 (3QFY2024) was RM121.64 million, a 22-time jump when compared to the same quarter last year, AirAsia X said in an exchange filing. The company booked RM125.29 million from both realised and unrealised net foreign exchange gains.</p>


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<p>Casual wear giant&nbsp;Uniqlo&nbsp;is facing a storm of online criticism in China, after a <em>BBC</em> report quoted the chief executive officer of its owner as saying the company does not source cotton from the far western region of Xinjiang.</p>


<p>(Nov 29):&nbsp;A return to profitability in e-commerce for Sea Ltd&nbsp;has analysts turning even more bullish on its stock, after a rally that has added US$43 billion (RM190.9 billion) to its market value so far this year.</p>


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<p>Velesto Energy Bhd (KL:VELESTO) on Friday said its subsidiary Velesto Drilling Sdn Bhd (VED) has received a notice of suspension for the jack-up rig Naga 8 contract from Carigali Hess Operating Company Sdn Bhd.</p>


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<p>TSMC's founder Morris Chang asked Nvidia's Jensen Huang to consider becoming the chief executive of the Taiwanese chip giant more than a decade ago, but was turned down in just 10 minutes, Chang says in a new volume of autobiography.</p>


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<p>KUALA LUMPUR (Nov 29): CIMB Group Holdings Bhd (KL:CIMB) is expected to achieve its return on equity (ROE) target for 2024, after its 3QFY2024 results exceeded expectations, analysts said on Friday.</p>


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<p>KUALA LUMPUR (Nov 29): Shares of Axiata Group Bhd (KL:AXIATA) rose to a one-month high on Thursday, as investors welcomed a better-than-expected third quarter, while&nbsp;analysts stayed divided amid earnings uncertainties ahead.</p>


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<p>KUALA LUMPUR (Nov 29): OSK Holdings Bhd’s (KL:OSK) net profit for the third quarter increased 11.55%, boosted by a higher share of results of associates and a joint venture, particularly from RHB Bank Bhd (KL:RHBBANK).</p>


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<p>Velesto Energy Bhd's (KL:VELESTO) shares fell to their lowest in close to two years on Friday, despite reporting a more than 30-fold jump in its third quarter (3Q) net profit, as it flagged a challenging outlook amid slower demand after announcing that a client had suspended the contract of its Naga 8 jack-up rig.</p>


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<p>IGB Bhd (KL:IGBB) has declared a dividend payout of 12 sen per share for FY2024 — comprising an interim dividend of seven sen and a special dividend of five sen — as its latest third quarter net profit jumped 27% from the corresponding quarter last year, driven by higher contributions from its retail, commercial and hotel segments.</p>


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<p>Muar Member of Parliament&nbsp;Syed Saddiq Syed Abdul Rahman said on Friday that he will immediately file an appeal against the conviction and sentence handed down to him by the High Court&nbsp;in his criminal breach of trust (CBT) and money-laundering case, after finally receiving the full written judgement.</p>


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<p>Steel Hawk Bhd (KL:HAWK), an oil and gas services provider listed on the ACE Market on Sept 5, has secured five packages to provide construction and modification works for Petroliam Nasional Bhd (Petronas) and 27 of the national oil company’s downstream operating plant units.</p>
