<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 1): Hong Leong MSIG Takaful Bhd (HLMT), a 65%-owned subsidiary of Hong Leong Financial Group Bhd, is exiting the general takaful business to focus solely on family takaful business as part of its internal streamlining exercise.</p></div>

<div class=newsTextDataWrapInner><p>It has also ceased to be a composite licensed takaful operator in accordance with the legislative requirements under the Islamic Financial Services Act 2013. All composite licensed takaful operators are required to convert to single licences and split into two separate entities due to the different risk characteristics and nature of the businesses effective today (July 1).</p></div>

<div class=newsTextDataWrapInner><p>In a statement today, the Islamic insurer said the streamlining of the business and operations through this exercise is set to provide an opportunity for HLMT to grow to the next level while providing its customers more value-added product offerings and services.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"With this (move), HLMT is confident of serving its customers better by focusing on family takaful business," it added.</p></div>

<div class=newsTextDataWrapInner><p>HLMT also assured all existing HLMT certificate holders that their current takaful certificate will remain intact and will be duly honoured in accordance with its terms and conditions.</p></div>


KUALA LUMPUR (July 1): Hong Leong MSIG Takaful Bhd (HLMT), a 65%-owned subsidiary of Hong Leong Financial Group Bhd, is exiting the general takaful business to focus solely on family takaful business as part of its internal streamlining exercise.

It has also ceased to be a composite lic...

Hong Leong MSIG Takaful exits general takaful business

KUALA LUMPUR (Nov 20): The government has no objection to adopting technology from any country for the rollout of the second 5G network, provided it complies with technical and security standards, said Communications Minister Fahmi Fadzil.

This includes adherence to the Communications a...

Govt open to technology from any country for second 5G network rollout — Fahmi

MORNING CALL: 20/11/24

Stocks in Asia were poised for a sluggish start as traders assess heightened geopolitical risks while awaiting the latest earnings from the world’s most valuable company. Bitcoin extended its post-election rally.

Futures pointed to small declines in Tokyo and Hong Kong, while Sydney was set to open little changed.

Asian stocks to tread cautiously ahead of Nvidia

While Malaysia is consolidating returns on previous infrastructure investments, leveraging its established expertise in electronics, semiconductors and data centres, political shifts and the gradual outflow of talent could impact future economic progress, according to the 9th edition of e-Conomy SEA by Google, Temasek and Bain & Co.

A survey of Malaysia’s digital economy

liminating the US electric vehicle tax credit would dent future EV demand — perhaps by more than a fourth — while providing a trivial boost to gasoline consumption, economists estimate.

US auto stocks fell last week on reports that President-elect Donald Trump may try to kill the $7,500 credit, which was part of the 2022 Inflation Reduction Act.

US electric vehicle demand seen plunging 27% without tax credit

Stocks rebounded in a volatile session marked by geopolitical headlines, with Nvidia Corp. climbing ahead of its results. Bitcoin extended its post-election rally.

Trading in options signals Nvidia’s results Wednesday will be the most-important catalyst left this year — more than the Federal Reserve’s December meeting, according to Barclays Plc strategists.

Stocks shake off war angst before Nvidia’s results

China’s Luckin Coffee Inc agreed to buy an equivalent of four million bags of beans from the world’s top exporter Brazil between 2025 and 2029, signalling continued demand from one of the fastest growing markets.

Luckin Coffee deal for Brazil beans ensures steady China demand

China’s Contemporary Amperex Technology Co Ltd (CATL) is in talks to establish battery recycling operations in Europe, adding to its footprint in the region as the company prepares to start cell production in Hungary.

China’s CATL in early talks on EV battery recycling in Europe

European governments accused Russia on Tuesday of escalating hybrid attacks on Ukraine's Western allies, as Baltic nations investigated whether the cutting of two fibre-optic telecommunication cables in the Baltic Sea was sabotage.

European nations denounce Russian hybrid attacks, cable cut probes launched

There are only three official entry points along the Malaysia-Thailand border in Kelantan — the Immigration, Customs, Quarantine and Security (ICQS) Complexs in Rantau Panjang, Bukit Bunga and Pengkalan Kubor — Home Minister Datuk Seri Saifuddin Nasution Ismail said.

Only three official entry points along Kelantan-Thailand border, says Saifuddin Nasution

<p>A brief recap of some corporate announcements that made the news on Tuesday.</p>


Hibiscus Petroleum, Dutch Lady, Dialog, Malayan Flour Mills, Cape EMS, Star Media, Teladan, SAM Engineering, APM Automotive, Comfort Gloves, Hextar Global, IFCA MSC, TCS Group, Binastra, Handal Energy

<p>IFCA MSC Bhd posted a sharp year-on-year increase in its third quarter net profit, driven by strong revenue growth and operational efficiencies.</p>

<p>Net profit for the quarter ended Sept 30, 2024 (3QFY2024) jumped to RM5.5 million, nine times the RM610,000 it made in 3QFY2023, on higher revenue contributions and improved cost management, its bourse filing showed. &nbsp;</p>


IFCA MSC's 3Q profit surges on robust sales, announces plan to cap cash pile at RM70 mil

<p>Despite the looming uncertainty in global trade arising from the US trade policy, economists are largely optimistic on Malaysia’s export growth outlook, citing trade diversions and front-loading opportunities, following October's rebound as growth in electronics and palm oil deliveries offset sharp contraction in shipments of petroleum.</p>


Economists maintain forecasts for Malaysia's export growth despite October's below-forecast rebound

<p>Bright Packaging Industry Bhd (KL:BRIGHT) has seen a change in largest shareholder after businessman Datuk Ricky Wong Shee Kai sold a 17.78% stake to non-independent director Lye Jun Fei.</p>


Bright Packaging sees emergence of new largest shareholder after Ricky Wong 17.8% stake sale

<p>Handal Energy Bhd (KL:HANDAL) was slapped with a RM132.6 million counterclaim from a former joint venture (JV) partner, alleging a breach of their JV agreement.</p>


Handal Energy hit with RM132.6 mil counterclaim from former JV partner

<p>Stocks in Asia were poised for a sluggish start as traders assess heightened geopolitical risks while awaiting the latest earnings from the world’s most valuable company. Bitcoin extended its post-election rally.</p>

<p>Futures pointed to small declines in Tokyo and Hong Kong, while Sydney was set to open little changed.</p>


<p>Comfort Gloves Bhd (KL:COMFORT) posted a wider net loss in the quarter ended Sept 30, 2024 (3QFY2024) on higher provisions for slow-moving inventory, write-downs and sizeable foreign exchange loss.</p>


Comfort Gloves' 3Q net loss widens on higher provisions, forex loss

<p>Wall Street's main indexes fell on Tuesday, as escalating tensions between Russia and Ukraine dented risk appetite globally and sent investors rushing for safe-haven assets.</p>


Wall Street falls as mounting Russia-Ukraine tensions cause jitters

<p>The world’s biggest coffee maker, Nestle SA, will continue raising prices and make packs smaller to limit the impact of higher bean prices on its bottom line.</p>


Nestle will lift coffee prices, shrink bags as beans get pricier

<p>While Malaysia is consolidating returns on previous infrastructure investments, leveraging its established expertise in electronics, semiconductors and data centres, political shifts and the gradual outflow of talent could impact future economic progress, according to the 9th edition of e-Conomy SEA by Google, Temasek and Bain &amp; Co.</p>


<p>China’s Luckin Coffee Inc agreed to buy an equivalent of four million bags of beans from the world’s top exporter Brazil between 2025 and 2029, signalling continued demand from one of the fastest growing markets.</p>


<p>Ukrainian forces carried out their first strike on a border region in Russia using Western-supplied missiles as President Vladimir Putin approved an updated nuclear doctrine expanding the conditions for using atomic weapons.</p>


Ukraine carries out first strike with US missiles in Russia

<p>Mieco Chipboard Bhd (KL:MIECO) has returned to the black with a net profit of RM1.67 million in its third quarter ended Sept 30, 2024 (3QFY2024), from a net loss of RM45.89 million in 3QFY2023, on increased sales and improvement in production efficiency. &nbsp;</p>


Mieco returns to black in 3Q on better sales, efficiency

<p>Stocks rebounded in a volatile session marked by geopolitical headlines, with Nvidia Corp. climbing ahead of its results. Bitcoin extended its post-election rally.</p>

<p>Trading in options signals Nvidia’s results Wednesday will be the most-important catalyst left this year — more than the Federal Reserve’s December meeting, according to Barclays Plc strategists.</p>


<p>There are only three official entry points along the Malaysia-Thailand border in Kelantan — the Immigration, Customs, Quarantine and Security (ICQS) Complexs in Rantau Panjang, Bukit Bunga and Pengkalan Kubor — Home Minister Datuk Seri Saifuddin Nasution Ismail said.</p>


<p>European governments accused Russia on Tuesday of escalating hybrid attacks on Ukraine's Western allies, as Baltic nations investigated whether the cutting of two fibre-optic telecommunication cables in the Baltic Sea was sabotage.</p>


<p>Trafigura was accused by Swiss prosecutors of channelling bribes to an Angolan official through a network of former employees, including one nicknamed “Mr Non-Compliant” by the company’s late founder.</p>


Trafigura paid bribes via ‘Mr Non-Compliant,’ say Swiss prosecutors 

<p>China’s Contemporary Amperex Technology Co Ltd (CATL) is in talks to establish battery recycling operations in Europe, adding to its footprint in the region as the company prepares to start cell production in Hungary.</p>


<p>liminating the US electric vehicle tax credit would dent future EV demand — perhaps by more than a fourth — while providing a trivial boost to gasoline consumption, economists estimate.</p>

<p>US auto stocks fell last week on&nbsp;reports&nbsp;that President-elect Donald Trump may try to kill the $7,500 credit, which was part of the 2022 Inflation Reduction Act.</p>


<p>The Royal Malaysian Police (PDRM) have expressed their hope that the new house arrest Bill proposed by the government will be studied and fine-tuned to ensure an orderly implementation and guarantee public safety.</p>
