<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 20): Panasonic Manufacturing Malaysia Bhd announced that its plant in Seksyen 23, Shah Alam (SA2) was affected by the flood over the weekend.</p></div>

<div class=newsTextDataWrapInner><p>In a Bursa Malaysia filing on Monday (Dec 20), the group said the production of fan and vacuum cleaners is disrupted for the time being and the company will need a week to assess the conditions of the machines and equipment that were affected by the flood waters.</p></div>

<div class=newsTextDataWrapInner><p>“The company has been informed that some of its suppliers were also affected by the flooding.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The company is unable to immediately assess the exact impact of this recent event to the financial results for the third quarter ending Dec 31, 2021 (3QFY21). &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>“The assets at SA2 Plant are adequately covered by insurance. The operations of the other plant at Seksyen 15, Shah Alam has not been affected,” it said.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Panasonic settled 40 sen or 1.37% higher at RM29.50, valuing the company at RM1.79 billion.</p></div>


Panasonic Manufacturing Malaysia Bhd announced that its plant in Seksyen 23, Shah Alam (SA2) was affected by the flood over the weekend.

In a Bursa Malaysia filing on Monday (Dec 20), the group said the production of fan and vacuum cleaners is disrupted for the time being and the company will need a week to assess the conditions of the machines and equipment that were affected by the flood waters.

Panasonic says Shah Alam Seksyen 23 plant affected by flood

LB Aluminium Bhd’s (KL:LBALUM) net profit climbed 62.67% to RM9.43 million for its fourth quarter ended April 30, 2024 (4QFY2024), from RM5.8 million a year before, on higher contributions from both the aluminium and property segments.

LB Aluminium’s 4Q net profit up 63%, declares 2.5 sen dividend

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.

IJM, Samaiden, AmanahRaya REIT, Poh Huat, CN Asia, Kuchai Development, Sungei Bagan, Sapura

Kenya's president on Wednesday withdrew planned tax rises, bowing to pressure from protesters who had stormed parliament, launched demonstrations across the country and threatened more action this week.

Kenya president backs down on tax rises after deadly protests

WikiLeaks founder Julian Assange landed to an ecstatic welcome in Australia on Wednesday after pleading guilty to violating US espionage law in a deal that sets him free from a 14-year legal battle.

WikiLeaks founder Assange welcomed home in Australia a free man after US deal

Wall Street's main indexes were mixed on Wednesday, with technology stocks attempting to find a floor after recent selloff, while investors awaited a crucial inflation report this week to gauge the path of monetary policy.

Wall Street mixed as tech stocks attempt recovery, financials drag

UUE Holdings Bhd (KL:UUE), which is set to be listed on the ACE Market of Bursa Malaysia on July 2, said its net profit for the fourth quarter ended Feb 29, 2024 (4QFY2024) came in at RM1.27 million.

Engineering firm UUE posts RM1.27m quarterly net profit ahead of listing

Negotiations to bail out Atos SE were dealt another blow after its largest shareholder walked away from a plan to rescue the troubled French IT company, leaving it with dwindling options.
 
David Layani’s Onepoint, a smaller French tech company that holds the largest stake in Atos, had initially beat out a rival bid from billionaire Daniel Kretinsky’s EPEI to negotiate with Atos’s creditors. Now that those talks have failed, Kretinsky’s firm has said it would be willing to restart negotiations, Atos said in a statement on Wednesday.

Onepoint abandons rescue plan for Atos, leaving few options

The cut-off date for the proposed disposal of Kuchai Development Bhd’s (KL:KUCHAI) assets and liabilities to Sungei Bagan Rubber Company (KL:SBAGAN) in return for a 29.37% stake in Sungei Bagan has been extended by four months to October 29.

Kuchai Development-Sungei Bagan deal cut-off date extended by four months till Oct 29

PUTRAJAYA (June 26): Prime Minister Datuk Seri Anwar Ibrahim on Wednesday attended the 2024 Prime Minister's Department (JPM) Appreciation Ceremony honouring 1,019 outstanding personnel and retirees.

The event, held at the Putrajaya International Convention Centre, served as a recogniti...

Anwar honours 1,019 at PM Department's 2024 Appreciation Ceremony

Airbus SE has been warning airlines that some of their aircraft deliveries due in the next two years risk being delayed, an indication that supply-chain glitches at the world’s largest planemaker might extend well beyond the current year.

Airbus tells buyers some of their deliveries in 2025, 2026 may be delayed

<p>The Securities Commission Malaysia said on Wednesday it has sued prominent investor Datuk Dr Yu Kuan Chon for alleged market rigging and manipulation involving shares of&nbsp; Shangri-La Hotels (M) Bhd (KL:SHANG) in 2018.</p>


SC sues Yu Kuan Chon over alleged market rigging, manipulation

<p>Founder of Gamuda Bhd (KL:GAMUDA) Datuk Lin Yun Ling has exercised his share options under the Employees' Share Options Scheme (ESOS) to acquire 1.2 million shares at RM2.55 apiece.</p>


Lin Yun Ling acquires 1.2 mil shares in Gamuda via ESOS

<p>Northern Solar Holdings Bhd, which installs solar panels and operates solar farms, has filed for an initial public offering (IPO) on the ACE Market to raise funds for expansion.</p>


Northern Solar, backed by Lagenda Properties, files for ACE Market IPO 

<p>IJM Corp Bhd (KL:IJM) has secured a contract to design and build a data centre for a subsidiary of Telekom Malaysia Bhd (KL:TM) in Iskandar Puteri, Johor, for RM331.7 million.</p>

<p>The project — known as Block 2 of the Iskandar Puteri Data Centre — was secured from TM Technology Services Sdn Bhd via its wholly owned IJM Construction Sdn Bhd, IJM said in a statement on Wednesday.</p>


IJM secures RM331.7 mil contract to build data centre for TM's unit in Iskandar Puteri

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


<p>Tesla Inc is on the verge of losing a key bragging right it’s held for the past six years: outselling all EV competitors in the US combined.</p>


Tesla is about to lose its EV market majority in the US

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>Samaiden Group Bhd (KL:SAMAIDEN) said it is teaming up with a lighting solutions provider to implement solar street lighting systems.</p>


Samaiden inks partnership to develop solar street lighting systems 

<p>The Malaysian Anti-Corruption Commission (MACC) has arrested another suspect in connection with the bribery case involving works to complete a highway project package worth over RM1 billion in the Klang Valley.</p>


Ninth suspect nabbed in MACC’s highway bribery probe

<p>KUALA LUMPUR (June 26): Poh Huat Resources Holdings Bhd (KL:POHUAT) on Wednesday reported a near 70% jump in quarterly net profit, driven by a gradual rise in orders from US customers for its Malaysian operations, primarily in the office segment.</p>


Poh Huat’s 2Q earnings climb 70% on rise in US orders

<p>The yen tumbled to the weakest level since 1986, raising speculation authorities may act to support the currency again.</p>


Yen slides to weakest since 1986, raising risk of intervention

<p>Advantest Corp stands to benefit as a boom in artificial intelligence (AI) development makes chips more complex in coming years, boosting demand for the semiconductor testing equipment it supplies, the company’s chief said.</p>

<p>Chief executive officer Douglas Lefever, waving off concerns that investors may be overestimating future demand, told Bloomberg Television that AI wasn’t just spurring data centre investment but will also fundamentally boost other industries including cars.</p>


Advantest CEO expects AI to change chipmaking as shares leap

<p>The Digital Investment Office (DIO) has approved a total of RM161.97 billion of digital investments from the period of its establishment in 2021 until March 2024, according to the Malaysian Investment Development Authority (Mida).</p>


Mida: RM162b in digital investments approved as of March 2024

<p>AmanahRaya Real Estate Investment Trust (REIT) (KL:ARREIT) is selling its office building, Contraves building in Cyberjaya, for RM42.5 million cash.</p>

<p>The REIT's trustee-manager Pacific Trustees Bhd has inked a conditional sale and purchase agreement with software provider 4X Software Sdn Bhd, who is buying the building for business expansion, the REIT said in a bourse filing on Wednesday. The sale has to obtain the approval of the Economic Planning Unit.</p>


AmanahRaya REIT to sell Contraves building in Cyberjaya for RM42.5 mil cash

<p>The rates of civil servants’ salary increase, which will be implemented from December this year, will be announced before the tabling of Budget 2025 in October, Prime Minister Datuk Seri Anwar Ibrahim said.</p>


Anwar to announce rates of civil service pay hike before tabling of Budget 2025

<p>UUE Holdings Bhd (KL:UUE), which is set to be listed on the ACE Market of Bursa Malaysia on July 2, said its net profit for the fourth quarter ended Feb 29, 2024 (4QFY2024) came in at RM1.27 million.</p>


<p>Country Heights Holdings Bhd has identified healthcare and wellness, as well as new energy, as key areas to revitalise the company “from red to black” and steer it towards sustainable profitability as part of its strategic transformation into a “premier grand wellness hub”.</p>

<p>“As part of the transformation, the group will upgrade and consolidate its resort and hospitality portfolio and transform it into a premier grand wellness hub. This transformation will provide comprehensive and personalised wellness experiences tailored to meet the future needs of its exclusive members,” the company said in a statement on Wednesday.</p>


Country Heights looks to wellness business in bid for sustainable profitability

<p>Penang-based Arka Bhd (KL:ARKA), formerly known as Transocean Holdings Bhd, has appointed Au Foong Yee as the group’s independent and non-executive director effective Wednesday.</p>


Arka appoints Inta Bina’s Au Foong Yee as new non-executive director

<p>Oil and gas tanks manufacturer CN Asia Corp Bhd (KL:CNASIA) is set to emerge as the largest shareholder of radio-frequency identification (RFID) solutions provider SMTrack Bhd (KL:SMTRACK) with a 14.2% stake via a debt settlement exercise announced on Wednesday.</p>


CN Asia set to emerge as largest shareholder in SMTrack via debt settlement plan

<p>LB Aluminium Bhd’s (KL:LBALUM) net profit climbed 62.67% to RM9.43 million for its fourth quarter ended April 30, 2024 (4QFY2024), from RM5.8 million a year before, on higher contributions from both the aluminium and property segments.</p>
