<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on May 3, 2017 - May 9, 2017</span></p></div><div><img class="img-responsive my_right" src="http://edgemarkets.s3-ap-southeast-1.amazonaws.com/pictures/Poly-Glass_Chart_FD_030517_theedgemarkets.jpg"  alt=""  /></div>

<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Shares in Poly Glass Fibre (M) Bhd rose as much as 95% to close at a record high of 60.5 sen yesterday, after the company announced that its net profit for the financial year ended Feb 28, 2017 (FY17) jumped nearly eight times last Friday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The stock closed 30 sen or 98.36% higher, with 1.07 million shares traded. Its market capitalisation stood at RM96.79 million. It was one of the top gainers on Bursa Malaysia yesterday.</p></div>

<div class=newsTextDataWrapInner><p>The stock has been trading in a 52-week range of 27 sen to 61 sen. Year to date, Poly Glass’ share price has risen 14.8% from 27 sen on Dec 29, 2016.</p></div>

<div class=newsTextDataWrapInner><p>Poly Glass’ net profit jumped to RM34.23 million in FY17 from RM4.36 million the previous year, while revenue increased 14.5% to RM47.89 million from RM41.81 million in FY16.</p></div>

<div class=newsTextDataWrapInner><p>The company attributed the higher profit to a reversal of impairment loss on development properties previously provided for by its wholly-owned subsidiary, Golden Approach Sdn Bhd, of RM40.94 million.</p></div>

<div class=newsTextDataWrapInner><p>Poly Glass manufactures and distributes glass mineral wool insulation for fire safety, thermal and acoustic insulation, as well as for energy conservation.</p></div>


KUALA LUMPUR: Shares in Poly Glass Fibre (M) Bhd rose as much as 95% to close at a record high of 60.5 sen yesterday, afte...

Poly Glass stock nearly doubles on stellar FY17 earnings

Jack Ma-backed Ant Group Co is refinancing an offshore credit line that will reach US$6.5 billion (RM28.13 billion), as it expands its global operations, according to people familiar with the matter.

Jack Ma-backed Ant is refinancing a credit line of US$6.5 bil

The federal government on Thursday agreed to increase the interim special grant for Sabah and Sarawak from RM300 million to RM600 million starting next year, according to Deputy Prime Minister Datuk Seri Fadillah Yusof.

Putrajaya doubling Sabah, Sarawak special grant allocation to RM600m starting 2025 — DPM Fadillah

Ecobuilt Holdings Bhd (KL:ECOHLDS) said on Thursday that it has bagged a RM190 million contract to undertake a construction job.

Ecobuilt bags RM190m construction project

Chin Hin Group Bhd (KL:CHINHIN)’s founder Datuk Seri Chiau Beng Teik has ceased to be a substantial shareholder in NCT Alliance Bhd (KL:NCT) after selling a 3.58% stake in the construction and property development company.

Chin Hin founder Chiau Beng Teik ceases to be substantial shareholder in NCT Alliance

Grangemouth, Scotland's only oil refinery, is to close in 2025 with the loss of 400 jobs, operator Petroineos said on Thursday, as part of plans to turn the 100-year old Grangemouth site into a fuels import terminal.

Scotland's only oil refinery to close next year, 400 jobs to go

Popular K-pop group NewJeans took to Youtube to demand Hybe Co reinstate their ousted long-time producer by Sept 25, escalating an ongoing dispute and stunning an industry controlled by a handful of powerful management firms.

K-pop stars send ultimatum to managers in rare industry revolt

German Chancellor Olaf Scholz said he’s asked the European Union (EU) to suspend a new regulation designed to reduce deforestation to allow objections raised about the burden on the print sector to be addressed.

Germany's Scholz asks EU to delay deforestation law over print concerns

McDonald’s Corp summer of deals is turning into a fall affair.

The chain will extend a US$5 (RM21.64) meal deal that debuted in June into December in most US markets, according to a statement on Thursday.

McDonald’s extends US$5 meal in battle for cash-strapped consumers

Pakistan's central bank cut its key policy rate by 200 basis points (bps) to 17.5% on Thursday, it said in a statement, making it the third straight reduction since June as the country looks to spur growth as inflation eases.

Pakistan cuts key rate by 200bps to 17.5%

Videogame companies Epic Games, Electronic Arts, Roblox and four others were hit with an EU consumer complaint on Thursday accusing them of misleading gamers into spending money.

Videogame firms hit with EU complaint over 'tricking consumers'

<p>Concorde Hotel Kuala Lumpur "is not for sale" by its owners and shareholders, said Tan Sri Sallehuddin Mohamed, chairman of its owner Ampang Hotel Sdn Bhd.</p>

<p>In a statement, Sallehuddin said the shareholders "are satisfied with our progress and the direction we are taking" for the hotel.</p>


Concorde Hotel KL not for sale, says owner

<p>Southeast Asian equities have cemented their position as a favourite play of money managers positioning for the US Federal Reserve’s (Fed) policy pivot.</p>

<p>Four of the five best-performing Asian equity benchmarks this month are from the region, with Thailand leading the pack. The buying frenzy has put foreign inflows on track for a fifth consecutive week while the MSCI Asean Index is now trading near its highest level since April 2022.</p>


Global funds rush into Malaysian, Southeast Asian stocks as Fed pivot play

<p>SUBANG (Sept 12): SIA Engineering Co Ltd (SIAEC), the maintenance, repair and overhaul (MRO) arm of Singapore Airlines Ltd, said less than 10% of its new hires in the country came from Malaysia Airlines’ engineering arm.</p>


Less than 10% of our technical staff are from Malaysia Airlines, says SIA’s engineering unit amid poaching concerns

<p>A former aide to Prime Minister Datuk Seri Anwar Ibrahim was charged with drug trafficking at the Magistrate's Court in Kuala Lumpur on Thursday.</p>

<p>Muhammed Yusoff Rawther, who has an ongoing sexual assault suit against Anwar, was charged with one count of trafficking 305 grammes of cannabis at the Kuala Lumpur Police Contingent Headquarters' surau last Friday.</p>


Anwar's former aide, who is suing PM for sexual assault, charged with drug trafficking

<p>Sales of Mazda and Kia vehicles are expected to pick up in the months ahead as analysts shrugged off Bermaz Auto Bhd’s (KL:BAUTO) weaker-than-expected quarter.</p>


Volume-heavy Mazda cars, 10% dividend yield set to prop up Bermaz Auto after weak quarter

<p>China is turning up the heat on its army of 8,700 investment bankers.&nbsp;</p>

<p>After being forced to take big&nbsp;pay cuts&nbsp;and adhere to other belt-tightening measures under President Xi Jinping’s years-long common prosperity campaign, the country’s dealmakers are now in the crosshairs of the nation’s top graft buster.&nbsp;</p>


China detains investment bankers, takes passports in corruption sweep

<p>Any decision&nbsp;on the proposal to make&nbsp;halal certification mandatory for all restaurants and food operators is under the jurisdiction of the Conference of Rulers, according to Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.</p>

<p>He said the&nbsp;issue should not be turned into polemics, as it is still in the proposal phase and had yet to become&nbsp;a permanent policy.</p>


Conference of Rulers to have final say on mandatory halal certification, says Zahid

<p>Maybank Investment Bank (Maybank IB) advised investors to refocus on property stocks with solid fundamentals and proven execution capabilities amid enthusiasm around the Johor-Singapore Special Economic Zone (JS-SEZ).</p>


Refocus on property stocks with strong fundamentals amid Johor-Singapore SEZ excitement — Maybank IB

<p>Oil and gas exploration and production group Hibiscus Petroleum Bhd (KL:HIBISCS) is proposing an additional one sen dividend per share for the financial year ended June 30, 2024 (FY2024).</p>


Hibiscus raises FY2024 dividend to 8.5 sen, sees at least 8 sen payout for FY2025

<p>In the second quarter of 2024 (2Q2024), Malaysia's retail sales decelerated to 0.6%, falling short of market expectations, according to Retail Group Malaysia (RGM).</p>

<p>In June, members of the Malaysia Retailers Association (MRA) and Malaysia Retail Chain Association (MRCA) projected a growth rate of 1.7%, making the actual result 65% below the estimate.</p>


Malaysian retailers say 2Q sales disappoint as prices climb, sentiment weaken

<p>The Federal Territory of Kuala Lumpur Land Registrar has been granted a stay by the High Court on Thursday from registering a 263.27-acre plot of land in the ‘Duta enclave’ to the liquidator of Semantan Estate (1952) Sdn Bhd.</p>


High Court grants stay over registration of Semantan Estate

<p>Selection of the technology provider for the Kuala Lumpur-Singapore high-speed rail (HSR) is still open, said MyHSR Corporation Sdn Bhd chief executive officer Datuk Mohd Nur Ismal Mohamed Kamal.</p>


Selection still open for KL-Singapore high-speed rail technology provider — MyHSR CEO

<p>IOI Properties Group Bhd (KL:IOIPG) is going to launch its IOI Industrial Park at Banting, Selangor by the second quarter of next year and is planning another one in Melaka that is expected to be launched two quarters later.</p>


IOI Properties plans more industrial parks as it eyes 20% revenue contribution from the segment

<p>First-half earnings in Asia showed how the ripple effects of the Red Sea crisis will continue to be costly for companies that make goods for export, while those that transport their wares benefit from higher freight rates.</p>


Red Sea crisis produces winners and losers in Asia as freight rates spike

<p>KUALA LUMPUR (Sept 12): BIMB Securities has maintained its “underweight” call on the rubber glove sector, citing challenges from strict European Union Deforestation Regulation (EUDR) and persistent overcapacity in the industry.</p>


BIMB Securities flags challenges in rubber glove sector amid EU deforestation rules

<p>Chinese hotpot chain Haidilao said it will focus on expanding further into established foreign markets in the coming years, notably the US, working to draw new customers as diners at home pull back on spending.&nbsp;</p>


Chinese hotpot chain plans US expansion to escape slump at home

<p>China has strongly advised its carmakers to make sure advanced electric vehicle (EV) technology stays in the country, people familiar with the matter said, even as they build factories around the world to escape punitive tariffs on Chinese exports.</p>


Chinese carmakers advised to keep key EV technology at home — Bloomberg

<p>WTEC Group Bhd, a foam and fabric products maker, filed for an initial public offering (IPO) on the ACE Market to raise funds for acquisition of a new, larger factory in Selangor.</p>


Foam products maker WTEC Group files for IPO on ACE Market

<p>Financial fraud investigator Richard Templeman said 1Malaysia Development Bhd (1MDB) has only paid Aabar Investment PJS Ltd, also known as the fake Aabar, US$2.2 billion and not US$3.5 billion as the fund claimed, based on his own findings.</p>


Fraud investigator says 1MDB only paid US$2.2 bil to fake Aabars, not US$3.5 bil

<p>The Road Transport Department (JPJ) seized 21 luxury multi-purpose vehicles (MPVs) used for operating illegal taxi services during a special operation against illegal taxis conducted in the Klang Valley from Sept 2 to 6.</p>
