A group of 14 Malaysian plantation organisations have jointly urged the government to reconsider the upcoming mandatory Employees Provident Fund (EPF) contribution for foreign workers, stating that the policy could overburden planters and potentially contradict the EPF Act.

Malaysian plantation associations call for review of mandatory EPF contribution for foreign workers

Technology and semiconductor-related stocks on Bursa Malaysia surged on Wednesday ahead of Republican candidate Donald Trump's victory in the US presidential election.

Malaysian tech stocks surge ahead of Trump's victory

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Wednesday

FBM KLCI up 0.83% to 1,634.17 on Nov 6, 2024

Fraser & Neave Holdings Bhd's (KL:F&N) net profit for the fourth quarter ended Sept 30, 2024 (4QFY2024) dropped 38.21% year-on-year to RM84.99 million from RM137.56 million, impacted by higher tax expenses and increased withholding taxes on dividends repatriated from its Thailand operations.

F&N profit falls 38% on higher taxes from Thai ops, pays 33 sen dividend

Logistics service firm Xin Hwa Holdings Bhd (KL:XINHWA) said on Tuesday its cargo transport unit’s licence to transport goods has been suspended by authorities, which it expects to adversely impact its operations.

Xin Hwa warns of adverse impact as cargo transport unit’s licence suspended by authorities

Construction firm Aneka Jaringan Holdings Bhd (KL:ANEKA) has secured a RM39 million contract to undertake earthwork, piling, pile caps and contiguous bored piling works in Jalan Pantai Sentral, Kuala Lumpur.

Aneka Jaringan secures RM39 mil construction contract in Kuala Lumpur

Datuk Seri Wong Sze Chien and Seah Ley Hong have emerged as substantial shareholders of property developer Magna Prima Bhd (KL:MAGNA) through their private vehicle, Edxus Solutions Sdn Bhd.

Magna Prima sees new substantial shareholders

KUALA LUMPUR (Oct 30): Utilities engineering services firm MN Holdings Bhd (KL:MNHLDG) has secured a RM63 million contract from Tenaga Nasional Bhd (KL:TENAGA) to develop a battery energy storage system (BESS).

MN Holdings secures RM63m contract from TNB for energy storage development

The initial public offering (IPO) of security seals manufacturer Mega Fortris Bhd, involving 42.25 million shares offered to the Malaysian public, has been oversubscribed by 7.18 times.

Mega Fortris’ 42.25 mil IPO shares for public oversubscribed by 7.18 times

KUALA LUMPUR (Oct 30): Stock exchange operator Bursa Malaysia Bhd (KL:BURSA) reported its highest quarterly net profit in three years, thanks to higher income across its business segments, including the securities and derivatives market.

Bursa Malaysia’s net profit surges to three-year high in 3QFY2024

Services sector revenue in Malaysia grew by 5.9% year-on-year (y-o-y) in the third quarter of 2024 (3Q2024), reaching RM618.5 billion, according to the Department of Statistics Malaysia (DOSM).

Malaysia's services sector revenue up 5.9% to RM618.5b in 3Q, official data show

CIMB Group Holdings Bhd (KL:CIMB) could post decent earnings growth for the third quarter which could help it achieve its return on equity (ROE) target of 11%-15% this year, despite the slower 4Q expected ahead, analysts said.

Decent 3Q seen for CIMB, analysts say

China International Capital Corporation (CICC) has expressed interest in collaborating with Malaysian funds to create strategic funds supporting investments in emerging and high-tech sectors, according to the Prime Minister's Office (PMO).

China's CICC eyeing collaboration for strategic funds investing in emerging, high-tech sectors — PMO

Malaysia's international reserves dipped to US$117.6 billion as at Oct 30 this year, from US$119.6 billion as at Oct 15, 2024.

Bank Negara's international reserves dip to US$117.6 bil as at Oct 30

Sentral REIT (KL:SENTRAL), which mainly manages office towers, said on Thursday its net property income rose 25% in the third quarter ended Sept 30, 2024 (3QFY2024) from a year earlier, boosted by revenue from a newly acquired property.

Sentral REIT's 3Q net property income rises 25% as Menara CelcomDigi boosts revenue

International credit rating agency Moody’s Ratings has expressed concerns about the Malaysian government’s approach to fiscal consolidation in Budget 2025, warning that cutting development expenditure — particularly on infrastructure and human capital — could undermine the country’s competitiveness in the global market.

Malaysia's competitiveness at risk amid development spending cuts, warns Moody's

Ultimate Print Sdn Bhd, a printer for major newspapers in the Klang Valley, has entered into a deal with Türkiye's state owned firm to establish a high-security printing hub in Malaysia.

Ultimate Print partners with Türkiye’s state-owned Darphane for high-security printing hub in Malaysia

IN the past week, employers have expressed their dissatisfaction over a government proposal to extend the mandatory pension contribution to non-citizen employees, which they say is unnecessary and adds to their already considerable business costs.

They said the proposal — presented duri...

Cover Story: The State of the Nation -  Mandatory EPF contribution for non-citizen employees baffles employers 

(Nov 7): Malaysian tycoon Lim Kang Hoo is exploring selling his toll-road business, in a deal that could value the assets at as much as RM5 billion (US$1.1 billion), according to people with knowledge of the matter.

Ekovest’s Lim weighing sale of toll-road assets for RM5b — Bloomberg

(Nov 7):&nbsp;Malaysian bonds are turning vulnerable to further outflows, as local yields are seen rising along with those on&nbsp;Treasuries,&nbsp;with Donald Trump poised to be the next US president.

Trump’s win threatens ringgit bonds after worst sell-off since 2020 — analysts

(Nov 7):&nbsp;Malaysian tycoon Lim Kang Hoo is exploring selling his toll-road business, in a deal that could value the assets at as much as RM5 billion (US$1.1 billion), according to people with knowledge of the matter.

Mah Sing Group Bhd (KL:MAHSING) has acquired a 5.24-acre (2.12-hectare) freehold parcel in Old Klang Road here for approximately RM113 million from Team Keris Bhd to develop a new transit-oriented development (TOD) named M Aurora.&nbsp;

Mah Sing acquires 5.24-acre Old Klang Road land for transit-oriented M Aurora

PUTRAJAYA (Nov 6): The Malaysian Anti-Corruption Commission (MACC) has frozen several personal and company bank accounts, valued at around RM1.1 million, belonging to the husband-and-wife founders of the FashionValet e-commerce platform.&nbsp;

MACC freezes bank accounts of FashionValet founders

Most Asian stocks dropped on Thursday as investors weighed the market ramifications of a second Trump presidency, with its promise of steeper tariffs. The dollar edged higher after surging more than 1% on Wednesday.

Most Asian stocks fall on wariness over Trump win

KUALA LUMPUR (Nov 7): Shares of Hup Seng Industries Bhd (KL:HUPSENG) rose on Thursday after the biscuit maker declared a special dividend amid record high quarterly profits.&nbsp;

Hup Seng shares rise after record quarterly profits, special dividend

Shares of Lotte Chemical Titan Holding Bhd (KL:LCTITAN) tumbled to their lowest in more than four years on Thursday, as investors reacted to widening quarterly losses while analysts flagged more troubles ahead.

Lotte Chemical shares tumble over four-year low amid larger losses, bleak outlook

BMI, a unit of the Fitch group, predicts challenges in establishing two sustainable 5G networks in Malaysia, emphasising that investment commitments will be crucial for the second network's viability.

BMI sees challenges for Malaysia's dual 5G networks

The selection of U Mobile Sdn Bhd to implement Malaysia's second 5G network does not contradict the equity requirements under the network facility provider (NFP) and network service provider (NSP) licences, said Communications Minister Fahmi Fadzil.

U Mobile’s selection for second 5G network aligns with equity requirements, says Fahmi

An expanded US-China trade war during President-elect Donald Trump’s second term could slash the Asian nation’s economic growth by two percentage points and prompt Beijing to stimulate domestic demand, according to Macquarie Group Ltd.

New Trump trade war seen knocking two points off China's GDP growth

BEIJING (Nov 7): Prime Minister Datuk Seri Anwar Ibrahim continued his intensive schedule in Beijing, the final stop of his working visit, with a business meeting with China International Capital Corp (CICC).

Anwar continues intensive schedule in Beijing, to begin with business meeting with CICC

Donald Trump&nbsp;recaptured the White House with a sweeping victory on Wednesday as tens of millions of Americans looked past his criminal charges and divisive rhetoric to embrace a leader who, if he carries out his campaign promises, will test the limits of presidential power.

Trump win to test limit of presidential power; Harris concedes but vows 'fight'

KUALA LUMPUR (Nov 7): An explanation regarding&nbsp;the award of&nbsp;the second 5G network licence to U Mobile Sdn Bhd will be among highlights of&nbsp;the Dewan Rakyat session on Thursday.

Explanation on U Mobile’s 5G licence award among highlights of Dewan Rakyat sitting on Thursday

A surge in American steel stocks just hours after former president Donald Trump secured a second term signals investors are betting his victory is bullish for the industry.

Steel stocks back in vogue as Trump victory buoys outlook

KUALA LUMPUR (Nov 6): The French Supreme Court on Wednesday fully dismissed the challenge filed by the alleged heirs of the defunct Sulu sultanate, said Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said.

In a Facebook post, she des...

Azalina: French Supreme Court delivers historic win for Malaysia against Sulu claimants

KUALA LUMPUR (Nov 7): Police have received a report regarding the loss of a bag containing RM1 million in cash from a shopping mall in Ampang on Wednesday (Nov 6) afternoon.

Bag containing RM1m lost after collection from bank — Ampang Jaya police chief

KUALA LUMPUR (Nov 6): Parkson Holdings Bhd’s (KL:PARKSON) subsidiary, Parkson Retail Group Ltd (PRGL), has secured two major lease agreements in Shanghai and Nanning, China, with a total combined value of approximately RM358.8&nbsp;million.

Parkson’s unit secures two major lease agreements in China

The Public Accounts Committee (PAC) will launch an investigation into the combined RM43.9 million investment loss incurred by Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) from their venture in FashionValet, an e-commerce platform.

PAC to probe Khazanah and PNB over RM43.9m FashionValet investment loss

Donald Trump’s victory in the race for the White House is set to inspire companies that have stuck to the sidelines to go public in the US as soon as next year, capitalising on the stock market’s positive reaction and the president-elect’s promises to cut red tape.

IPO market holdouts look to 2025 as Trump retakes White House

The Nasdaq 100 Index climbed to its first record since July in the wake of the US presidential election, which&nbsp;added&nbsp;to the year’s powerful bull market in megacap tech stocks.

Luqman Amin

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