<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Malaysia Weekly on July 23, 2018 - July 29, 2018</span></p></div><div>
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How Malaysia’s economy

Stocks climbed with bonds while the dollar fell as traders welcomed Donald Trump’s pick of Scott Bessent for Treasury Secretary, betting the hedge-fund manager will bring a Wall Street mindset to the role.

US stocks, bonds climb on Trump’s Treasury pick

(Nov 26): Republican President-elect Donald Trump says he plans to fundamentally alter the U.S. relationship with NATO during his second four-year term and rapidly bring the war in Ukraine to a close.

On the campaign trail, he floated sending armed forces into Mexico to battle drug...

Trump's foreign policy: rethink NATO, troops to Mexico, end Ukraine war

Here is a brief recap of some corporate announcements that made news on Monday.

IJM, RHB Bank, Affin Bank, Mr DIY, PetDag, KLCCP Stapled Group, S P Setia, IOI Properties, MPI, Hong Leong Industries, Gas Malaysia, Solarvest, Ho Hup Construction, Haily

The Umno supreme council has revoked the suspension of former Pasir Salak MP Datuk Seri Tajuddin Abdul Rahman’s membership in Umno with immediate effect.

Tajuddin reinstated as Umno member after suspension lifted

SKP Resources Bhd, one of the Malaysian suppliers of British consumer goods company Dyson Ltd, said on Monday it is mindful of significant credit concentration risk that may arise from a major customer and is continuously seeking to diversify its customer base, as it reported a 26.89% year-on-year jump in its second quarter net profit on higher revenue.

Dyson supplier SKP Resources says it's seeking to diversify customer base as 2Q profit jumps 

Funds managed by Blackstone Inc agreed to invest US$3.5 billion (RM15.63 billion) to create a joint venture with EQT Corp, enabling the US natural gas producer to reduce its debt.

Blackstone, EQT form US$3.5 bil gas pipeline venture

The benchmark S&P 500 and the blue-chip Dow hit intraday record highs on Monday while the Nasdaq also advanced, with Scott Bessent's nomination as Treasury secretary in the incoming Trump administration boosting investor sentiment.

S&P 500, Dow touch record highs as markets cheer Trump's Treasury pick

Taliworks Corp Bhd’s (KL:TALIWRK) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) jumped 79.08% year-on-year to RM24.25 million from RM13.54 million a year ago, driven by higher revenue across all operating business segments.

Taliworks’ 3Q net profit up 79% on growth across board, toll compensation; pays two sen dividend

Gamuda Bhd (KL:GAMUDA), whose share price has more than doubled year-to-date (YTD), is among companies analysts are expect to be included in the FTSE Bursa Malaysia KLCI following the index’s semi-annual review.

Is KLCI inclusion on the cards for 99 Speed Mart?

The government does not intend to allow vehicles owned by non-citizens to enjoy the RON95 subsidy, said the Ministry of Economy.

The ministry said the move was in line with the government’s objective to strengthen the country’s fiscal positition as stated in the 12th Malaysia Plan (12MP).

Economy Ministry says govt will not allow non-citizen vehicles to enjoy RON95 subsidy 

<p>Some 647.13 million shares in Affin Bank Bhd (KL:AFFIN) representing a 26.96% stake were traded off-market on Monday.</p>

<p><em>Bloomberg </em>data showed that the shares were sold in eight tranches for RM1.78 billion. The blocks of shares were transacted between RM2.46 and RM2.84 per share, representing a discount of between 17% and 4.05% over Affin Bank’s last closing price of RM2.96 in the open market on Monday.</p>


Affin Bank sees 27% stake traded at a discount in off-market deals valued at RM1.78 bil

<p>Radium Development Bhd (KL:RADIUM) said it is acquiring 13 acres of&nbsp; leasehold land in Cheras — which will be used for mixed development — for RM458 million.</p>


Radium Development buys 13-acre land in Cheras for RM458m

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


<p>Petronas Dagangan Bhd's (KL:PETDAG)&nbsp;net profit jumped 81.4% year-on-year&nbsp;to RM335.13 million for the third quarter ended Sept 30, 2024 (3QFY2024), from RM184.72 million previously, on the back of strong margins supported by favourable price&nbsp;trends, coupled with a decrease in overall product costs due to lower purchase premium.</p>


PetDag's 3Q net profit jumps 81% on strong margins amid favourable MOPS price, pays 24 sen dividend

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>KPJ Healthcare Bhd (KL:KPJ) reported a 6.24% dip in its third quarter net profit from a year ago, despite revenue breaching RM1 billion for the first time, following the disposal of its Indonesian operations.</p>


KPJ reports record revenue but lower 3Q profit on absence of one-off disposal gain

<p>SKP Resources Bhd, one of the Malaysian suppliers of British consumer goods company Dyson Ltd, said on Monday it is mindful of significant credit concentration risk that may arise from a major customer and is continuously seeking to diversify its customer base, as it reported a 26.89% year-on-year jump in its second quarter net profit on higher revenue.</p>


<p>Solarvest Holdings Bhd (KL:SLVEST) posted a 28.1% rise in net profit to RM9.2 million for its second quarter ended Sept 30, 2024 (2QFY2025), from RM7.2 million a year earlier, driven by improved margins from its commercial and industrial segment, supported by a reduction in solar panel costs.</p>


Solarvest posts 28% rise in 2Q net profit on improved margins

<p>Global airfares are set to become more expensive in 2025 even as gains moderate, according to an American Express Global Business Travel Group Inc forecast, with ticket prices reflecting higher costs and lingering supply-chain disruptions.</p>


Global airfares set to rise yet again in 2025, Amex report says

<p>(Nov 25): Lawmakers in the US House of Representatives have asked Treasury Secretary Janet Yellen to rethink ties with Hong Kong's banking sector, the <i>Wall Street Journal</i> reported on Monday.</p>

<p>Hong Kong has turned into a hub for many violations of US trade controls, including expor...

US lawmakers say Hong Kong is becoming hub for financial crime — report

<p>Hong Leong Industries Bhd (KL:HLIND) said its net profit rose 60.3% to RM140.56 million in the first quarter ended Sept 30, 2024 (1QFY2025), from RM87.67 million a year ago, mainly driven by higher motorcycle sales and a RM12.6 million gain from a land disposal.</p>


Hong Leong Industries says 1Q profit rose on higher motorcycle sales, declares 25 sen dividend

<p>(Nov 26):&nbsp;Republican President-elect Donald Trump says he plans to fundamentally alter the U.S. relationship with NATO during his second four-year term and rapidly bring the war in Ukraine to a close.</p>

<p>On the campaign trail, he floated sending armed forces into Mexico to battle drug...

<p>The benchmark S&amp;P 500 and the blue-chip Dow hit intraday record highs on Monday while the Nasdaq also advanced, with Scott Bessent's nomination as Treasury secretary in the incoming Trump administration boosting investor sentiment.</p>


<p>The Ministry of Transport (MOT) will review a proposal requiring senior citizens aged 65 and above to undergo competency and health assessments before renewing their&nbsp;driving licences.</p>


MOT to study proposal requiring senior citizens to undergo assessments before licence renewals, says Loke

<p>ITMAX System Bhd (KL:ITMAX) reported a 35.6% jump in its net profit for the quarter ended Sept 30, 2024 (3QFY2024), as its revenue climbed 48.54% year-on-year.</p>


ITMAX 3Q net profit jumps 36% to RM22.42 mil, revenue up 49%

<p>Semiconductor packaging and testing services provider Malaysian Pacific Industries Bhd (KL:MPI), a unit of Hong Leong Group, said it is anticipating a challenging operating environment ahead, even as it reported a near doubling of its net profit for its first quarter spanning July to September this year.</p>


MPI warns of challenging outlook even as July-September profit nearly doubles

<p>IOI Properties Group Bhd’s (KL:IOIPG) net profit fell 60.3% in the first quarter from a year earlier, no thanks to higher interest expense.</p>


IOI Properties posts weaker 1QFY2025 net profit as interest expense eats into margins

<p>Building support services provider KJTS Group Bhd (KL:KJTS) said its third-quarter net profit fell 46.4% year-on-year despite a higher revenue, due to an increase in administrative expenses.</p>


KJTS 3Q net profit drops 46% as administrative expenses increase

<p>Taliworks Corp Bhd’s (KL:TALIWRK) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) jumped 79.08% year-on-year to RM24.25 million from RM13.54 million a year ago, driven by higher revenue across all operating business segments.</p>


<p>Haily Group Bhd (KL:HAILY) said it has secured a RM115.1 million contract, its largest this year, for the construction of residential units in Johor Bahru.</p>
