<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 23): Marine &amp; General Bhd (M&amp;G) said Repsol Oil &amp; Gas Malaysia Ltd has suspended a RM5.5 million work order awarded to its unit Jasa Merin (Malaysia) Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>M&amp;G did not state the reason for the suspension in its filing with Bursa Malaysia today.</p></div>

<div class=newsTextDataWrapInner><p>It added that Jasa Merin received the suspension order on May 26 but only received approval from Repsol to announce the suspension yesterday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The suspension is expected to reduce the revenue of M&amp;G for the financial period ending April 30, 2021 by RM5.5 million," the group said. "The suspension is not expected to have any effect on the share capital and shareholding structure of M&amp;G."</p></div>

<div class=newsTextDataWrapInner><p>The original expiry date for the work order was Oct 31, 2020, it added.</p></div>

<div class=newsTextDataWrapInner><p>Shares in M&amp;G were unchanged at eight sen in afternoon trading, valuing the group at RM57.91 million. Some 20,000 shares were traded.</p></div>


Marine & General Bhd said Repsol Oil & Gas Malaysia Ltd has suspended a RM5.5 million work order awarded to its unit Jasa Merin (Malaysia) Sdn Bhd.

Marine & General unit's RM5.5m work order suspended by Repsol

Brazilian President Luiz Inacio Lula da Silva on Tuesday urged leaders of the Group of 20 (G20) major economies to accelerate their national climate targets, calling on them to reach net zero climate emissions five to 10 years ahead of schedule.

Lula urges G20 leaders to move faster on net zero climate targets

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

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.

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

Alphabet Inc’s Chrome browser could fetch as much as US$20 billion (RM89.45 billion) if a judge accedes to a Justice Department (DOJ) proposal to sell the business, in what would be a historic crackdown on one of the world’s biggest tech companies.

Google’s Chrome to fetch up to US$20 bil if judge okays sale

A brief recap of some corporate announcements that made the news on Tuesday.

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

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.

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

Russian Foreign Minister Sergei Lavrov said on Tuesday that an attack on Russia's Bryansk region by Ukraine using US-supplied ATACMS missiles was a clear signal that the West wanted to escalate the Ukraine conflict.

Lavrov says Ukrainian attack on Russia with US missiles is a Western escalation

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.

Wall Street falls as mounting Russia-Ukraine tensions cause jitters

Chinese President Xi Jinping told German Chancellor Olaf Scholz on Tuesday he hopes Germany can help Europe and China resolve the issue of tariffs on Chinese electric vehicles (EVs) as soon as possible, state television CCTV reported.

Xi asks Germany's Scholz to help resolve issue of EU tariffs on Chinese EVs

Walmart on Tuesday raised its annual sales and profit forecast for the third consecutive time, with people buying not just groceries but merchandise beyond essentials online and at stores, a sign that the retail giant may be gaining market share ahead of the holiday season.

Walmart raises annual forecasts again, signals holiday shopping surge beyond essentials

<p>THE share price of Johor-based dairy product specialist Farm Fresh Bhd (KL:FFB) plummeted to a low of RM1.06 in July last year — a sharp drop of 21% from its March 2022 initial public offering (IPO) price of RM1.35.</p>

<p>At the time, investor sentiment was shaken by reports of supply constra...

Farm Fresh hits record high — will the stock keep climbing?

<p>Newly confirmed High Court judge Leong Wai Hong has recused himself from hearing 1Malaysia Development Bhd (1MDB) and 10 other companies' US$346 million (RM1.63 billion) suit against Datin Seri Rosmah Mansor and Singaporean Shabnam Naraindas Daswani.</p>


Rosmah succeeds in recusing judge from hearing 1MDB suit against her and Singaporean

<p>KUALA LUMPUR (Nov 19): The widow of Tun Daim Zainuddin on Tuesday insisted that the criminal charge against him go for a full trial, confident that he will be exonerated.</p>


Daim’s widow wants trial against her husband to proceed to clear his name

<p>The transformation of the Armed Forces Fund Board (LTAT) must begin immediately as a prolonged suspension of the pension fund's activities risks liquidation of its assets, according to a report by the Public Accounts Committee.</p>


Parliament watchdog flags RM5b risk amid LTAT-Boustead restructuring halt, calls for immediate action

<p>LAST Monday, Datasonic Group Bhd (KL:DSONIC) announced that it had bought 51% equity interest in Innov8tif Holdings Sdn Bhd for RM40 million in cash from Revenue Group Bhd (KL:REVENUE).</p>

<p>Innov8tif Holdings and its subsidiaries Innov8tif Solutions Sdn Bhd, Xendity Sdn Bhd and Innov8tif So...

The tale of Innov8tif and five public-listed companies

<p>Malaysia has raised its December export tax for crude palm oil to 10% from 8% and increased its reference price, a circular on the Malaysian Palm Oil Board website showed on Tuesday.</p>


Malaysia raises December crude palm oil export duty to 10%

<p>Emerging Asian stock markets rallied on Tuesday, with Bangkok and Manila trading higher on expectations of rate cuts in the near future, while Singapore stocks hit a 17-year high.</p>


EM stocks rally; Manila, Bangkok up on rate-cut bets

<p>KUALA LUMPUR (Nov 19): Home Minister Datuk Seri Saifuddin Nasution Ismail said on Tuesday that all immigration counters and automatic gate systems (autogates) at the Kuala Lumpur International Airport (KLIA), as well as at Bangunan Sultan Iskandar’s customs, immigration and quarantine (CIQ) complex in Johor Bahru, must remain open during peak hours to ease congestion.</p>


All immigration counters, autogates at KLIA and Bangunan Sultan Iskandar to stay open during peak hours — home minister

<p>Two of the world’s biggest foreign holders of US government debt offloaded a pile of treasuries in the third quarter as they rallied before the presidential election.</p>


Japan and China dump US treasuries before Trump’s victory

<p>Malaysia’s initial public offering (IPO) market continued to outperform its Southeast Asian peers so far this year, leading in terms of IPO count, funds raised and market capitalisation, according to Deloitte's latest report.</p>


Malaysia's IPO market remains in the lead in Southeast Asia, with highest listings, funds raised, market cap — Deloitte

<p>PUTRAJAYA (Nov 19): Imprisoned former prime minister Datuk Seri Najib Razak’s appeal of his RM1.9 million malfeasance in public office suit against former attorney general (AG) Tan Sri Tommy Thomas has been vacated yet again.</p>


Another COA judge recuses herself, Najib’s appeal in suit against Tommy Thomas postponed

<p>Hibiscus Petroleum Bhd’s (KL:HIBISCS) net profit fell 51% year-on-year (y-o-y) in its first financial quarter ended Sept 30, 2024 (1QFY2025), dragged down by planned shutdowns at four of its assets, lower oil and gas prices and the strengthening ringgit versus the US dollar in the quarter under review.</p>


Lower selling price, volume, strong ringgit drag Hibiscus Petroleum's 1Q profit down by half

<p>Construction company Binastra Corp Bhd (KL:BNASTRA) has secured a contract worth RM256.45 million for mechanical and electrical (M&amp;E) fit-out works of a data centre in Bukit Jalil, Kuala Lumpur. &nbsp;</p>


Binastra bags RM256.45 mil M&E job for Exsim's data centre in Bukit Jalil

<p>KUALA LUMPUR (Nov 19): Malaysia’s exports rebounded in October this year, as growth in deliveries of electronics and palm oil offset sharp contraction in shipments of petroleum, official data on Tuesday showed.</p>


Malaysia exports rebound in October on shipments of electronics, palm oil

<p>Lawyer for former prime minister Datuk Seri Najib Razak, Tan Sri Muhammad Shafee Abdullah, said he has a suspicion fugitive Low Taek Jho, or Jho Low, is currently residing in Myanmar under the protection of the military junta there.</p>


Najib’s lawyer believes Jho Low is in Myanmar

<p>Cape EMS Bhd (KL:CEB) booked its first quarterly loss since its listing in March 2023, with a net loss of RM18.95 million in the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net profit of RM15.21 million in the same quarter last year.</p>


Cape EMS posts first quarterly loss since listing amid margin pressure

<p>The Ministry of Health (MOH) will no longer award pharmaceutical procurement contracts to just one company, in order to ensure a secure and stable supply of medication in the country.</p>


No more pharmaceutical procurement through just one company — health minister

<p>KUALA LUMPUR (Nov 19): Bank Negara Malaysia (BNM), in collaboration with the Bank for International Settlements (BIS) and four other central banks, is advancing Project Nexus to enhance the efficiency of instant payment systems (IPS) for seamless cross-border transactions globally, with full operations expected by 2027.</p>


BIS partners BNM, four other central banks to advance Project Nexus for global cross-border instant payments

<p>Malayan Flour Mills Bhd’s (MFM)(KL:MFLOUR) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) plummeted 69.7% to RM7.34 million, from RM24.2 million in the same quarter last year.</p>


JV losses drag Malayan Flour Mills' 3Q profit down 69.7% despite higher revenue

<p>Construction services firm TCS Group Holdings Bhd (KL:TCS) has secured a contract worth RM611.3 million, almost seven times its market capitalisation of RM90.9 million, to build a new highway and to upgrade roads under Phase 1B of the Pan Borneo Highway.</p>
