<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 7): Bumi Armada Bhd shares fell in active trade this morning after the termination of FPSO Armada Claire 4-year contract.</p></div>

<div class=newsTextDataWrapInner><p>At 9.05am, Armada lost 15.5 sen with 14.33 million shares done.</p></div>

<div class=newsTextDataWrapInner><p>Kenanag IB Research said following the termination of FPSO Armada Claire 4-year contract expiring in 2018, by its client Woodside Petroleum, which was announced last Friday, puts to question the sustainability of all its existing FPSO contracts as well as the four other upcoming ones which are soon to sail away by July this year.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“We downgrade the stock to Underperform from Outperform with lower target price of 80 sen from RM1.17 previously,” it said.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (March 7): Bumi Armada Bhd shares fell in active trade this morning after the termination of FPSO Armada Claire 4-year contract.

At 9.05am, Armada lost 15.5 sen with 14.33 million shares done.

Kenanag IB Research said following the termination of FPSO Armada Clair...

Bumi Armada active, falls on termination of FPSO contract

Europe is burning through gas reserves more quickly than at any point in the last seven years as cold weather ramps up heating needs, with temperatures expected to drop again this week.

The region’s vast underground storage sites — which act as a buffer against tighter flows — are just over 70% full compared with about 86% a year ago.

European gas storage sites dwindle at fastest pace since 2018

The US Defense Department said on Monday it had added Chinese tech giants including gaming and social media leader Tencent Holdings and battery maker CATL to a list of firms it says work with China's military.

US adds Tencent, CATL to list of Chinese firms allegedly aiding Beijing's military

Brazil's government said in a statement on Monday that Indonesia is formally joining BRICS as a full member, further expanding the group of major emerging economies that also includes Russia, India, China and South Africa.

Indonesia joins BRICS bloc as full member, says Brazil 

Canada's Barrick Gold said on Monday it would suspend operations in Mali if the country does not lift restrictions on gold shipments within the coming week, as mining companies face an increasingly hostile operating environment in West Africa.

Barrick threatens to freeze Mali operations in row over rules

Prime Minister Justin Trudeau is resigning after more than nine years leading Canada, bowing to sagging approval numbers and a rebellion within his political party.

Trudeau, 53, currently the longest-serving leader of any Group of Seven (G7) country, announced on Monday he plans to step down as head of the governing Liberal Party. He will remain as prime minister until a new leader is selected, and parliament has been suspended until March 24 while that process is underway.

Trudeau resigns after nine years in power as Liberals force him out

Donald Trump asked a New York appeals court to stop his hush money sentencing set for Jan 10 while the US president-elect tries again to overturn his guilty verdict ahead of his inauguration.

Trump asks New York appeals court to stop hush money sentencing

Electricite de France SA (EDF) is simplifying the design of its small modular nuclear reactors (SMR), targeted to replace coal-fired power plants. 

The SMR “will rely on well-known and perfectly mastered technological building blocks within the nuclear sector,” EDF said in a post on Linkedin on Monday.

EDF to simplify small nuclear reactor after design setback

Prime Minister Datuk Seri Anwar Ibrahim on Monday night hosted a dinner in honour of visiting Singapore Prime Minister Lawrence Wong at Rumah Tangsi here.

Anwar hosts dinner for Singapore PM

Nvidia Corp investors have high hopes that Monday’s speech from CEO Jensen Huang will spark a fresh breakout in the chipmaker’s shares, which have plateaued since November after roaring higher for much of 2024.

Nvidia investors look to Huang CES speech to spark next breakout

The US Consumer Financial Protection Bureau (CFPB) sued a unit of Warren Buffett's Berkshire Hathaway on Monday, accusing it of pushing borrowers into unaffordable loans to buy homes from Clayton Homes, Berkshire's manufactured housing business.

US regulator sues Buffett's Berkshire unit over risky home loans

<p>Gateway Development Alliance (GDA), the consortium proposing to privatise Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT), has extended the closing time and date for the acceptance of its takeover offer to 5pm on Jan 17, 2025, from 5pm on Jan 8, 2025, previously.&nbsp;</p>


Khazanah-EPF consortium gives MAHB shareholders seven more working days to accept takeover bid

<p>Aizo Group Bhd (KL:AIZO), formerly known as Minetech Resources Bhd, has been selected to develop a 99.99MW large-scale solar photovoltaic plant in Kampar, Perak.</p>


Aizo selected by EC to develop 99.99MW solar plant in Perak

<p>US President-elect Donald Trump denied a <em>Washington Post</em> report that his aides are considering narrowing his tariff plan so that it would only apply to limited specific critical imports.</p>


Trump says his tariff policy won’t be pared back

<p>Proton Holdings Bhd, in which DRB-Hicom Bhd (KL:DRBHCOM) owns a 50.1% stake, concluded 2024 with 152,352 cars sold, retaining its second-place position in the local market for the sixth year running.</p>


Proton's annual sales up less than 1% in 2024, defends second spot for sixth year

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


MAHB, Oriental Kopi, Kerjaya Prospek, Kumpulan Kitacon, T7 Global, Aizo, Keyfield, Citaglobal, D&O

<p>D&amp;O Green Technologies Bhd (KL:D&amp;O) said its 93.2%-owned subsidiary Dominant Electronics Sdn Bhd (DESB) has signed a memorandum of understanding (MOU) with Jing Wei Hirain Automotive Electronics Malaysia Sdn Bhd to establish a new operating company in Malaysia focusing on engineering services and automotive module production.</p>


D&O unit signs MOU with China-listed Beijing Jingwei Hirain Technologies for automotive module business in Malaysia

<p>Citaglobal Bhd (KL:CITAGLB) has acquired&nbsp;a 55% equity stake in&nbsp;Germany’s LAWI Engineering GmbH (LAWI Germany), as part of a partnership to provide advanced waste-to-energy (WTE) technology and engineering solutions for waste management projects.&nbsp;</p>


Citaglobal acquires 55% stake in waste-to-energy partner LAWI Germany for undisclosed value

<p>XOX Networks Bhd (KL:XOXNET), an event management and distribution company, has proposed a share capital reduction to wipe out up to RM55 million of its accumulated losses.</p>


XOX Networks proposes share capital reduction to eliminate losses

<p>Wawasan Dengkil Holdings Bhd, a construction services company, entered into an underwriting agreement with M&amp;A Securities in conjunction with its initial public offering (IPO) on the ACE Market of Bursa Malaysia.</p>


Wawasan Dengkil Holdings inks underwriting agreement with M&A Securities

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EVENING 5: Five things you need to know today

<p>Malaysia’s palm oil inventories are forecast to fall in December, for a third consecutive month, amid declining production due to recent heavy rainfall that affected the harvest, a <em>Reuters </em>survey showed on Monday.</p>


Malaysia’s end-December palm oil stocks decline for third straight month on lower output

<p>US President Joe Biden is indefinitely blocking offshore oil and gas development in more than 625 million acres (252.93 million hectares) of US coastal waters, warning that drilling there is simply “not worth the risks” and “unnecessary” to meet the nation’s energy needs.&nbsp;</p>


Biden bars offshore oil drilling in US Atlantic and Pacific

<p>Oil and gas services firm Keyfield International Bhd (KL:KEYFIELD) is acquiring a five-year-old platform supply vessel for US$17.6 million (RM79.2&nbsp;million).</p>


Keyfield acquires platform supply vessel for US$17.6 mil

<p>Handal Energy Bhd (KL:HANDAL) announced on Monday that its joint venture (JV) agreement with Kazakhstan-based Hadid Oil and Gas LLP for joint involvement in an early oil production field development programme has been called off.</p>


Handal Energy says JV deal with Hadid Oil terminated

<p>A little-known Japanese maker of oven ranges and water heaters has offered to acquire Fujitsu General Ltd&nbsp;for as much as ¥257 billion (US$1.6 billion or RM7.3&nbsp;billion), becoming the latest suitor for Fujitsu Ltd’s air-conditioner unit.</p>


Little-known Japanese oven maker to buy out Fujitsu's air-conditioner unit for US$1.6b

<p>Service provider Telegram has been granted an Application Service Provider (ASP) C Licence to operate in Malaysia, said Communications Minister Fahmi Fadzil.</p>

<p>He said Telegram obtained a licence from the Malaysian Communications and Multimedia Commission (MCMC) on Jan 2, making it the third service provider to be licensed under the licensing requirements for Internet messaging and social media service providers.</p>


Social media licensing: Telegram becomes third provider to receive licence — Fahmi

<p>Toyo Ventures Holdings Bhd (KL:TOYOVEN) has issued a notice of dispute to Vietnam's Ministry of Industry and Trade (MOIT) over the termination of the Song Hau 2 thermal power plant project by the Vietnamese government.</p>


Toyo Ventures issues dispute notice to Vietnamese govt over power plant termination

<p>Singapore Prime Minister Lawrence Wong arrived in Malaysia on Monday to begin his two-day official visit in conjunction with the 11th Malaysia-Singapore Leaders’ Retreat on Tuesday.</p>

<p>He arrived with his delegation at the Kuala Lumpur International Airport (KLIA) Terminal 1 at 6.15pm on a commercial flight and then was given a guard of honour by the First Battalion Royal Ranger Regiment under the command of Captain Iskandar Dzulkarnein Doa Hassan at the Bunga Raya Complex here.</p>


Singapore PM arrives in Malaysia for two-day official visit

<p>Saudi Arabia, one of the largest bond issuers in emerging markets last year, has kick-started 2025 with a borrowing spree as the country looks for new sources of finance to fuel its vast economic transformation plan.</p>


Saudi Arabia planning further borrowing spree to pay for huge projects — Bloomberg

<p>Leading Software-as-a-Service (SaaS) provider Rexit Bhd (KL:REXIT) assured stakeholders on Monday that there have been no data leaks, and the company’s data security remains “fully intact” following the completion of an independent cybersecurity audit.</p>
