It is April 2024, and we are well into the second quarter of the Year of the Dragon. Let’s take stock of the year so far for Malaysian investors. Asset class returns have been respectable, with volatility of returns being the key observation.

For example, the S&P 500 index is up 9.1...

Pitfalls & Pitch Calls: So far, so good in 2024?

LAST month, I wrote in this column about the conflict in the Middle East that started in October last year and its impact on shipping through the Suez Canal. The emerging geopolitical risks took markets near to the year’s low in October 2023.

However, since then and in just over fo...

Pitfalls & Pitch Calls: What is a strawman?

The Red Sea trade route serves as a vital link between the East and the West, enabling the exchange of goods. It connects the Mediterranean Sea to the Indian Ocean, passing through the Red Sea and the Gulf of Aden. The Suez Canal further facilitates trade along the Red Sea route by providing a di...

Pitfalls & Pitch Calls: The new world dis-order

The economic dynamics of Malaysia in 2023 witnessed a tale of two indices. While the FBM KLCI index clocked a flat performance, trailing behind its regional peers, the FTSE Bursa Malaysia Small Cap Index chalked up 9.57% year on year, underscoring the robust performance of small-cap firms listed ...

Pitfalls & Pitch Calls: Back in business: Malaysia’s potential in transition

Imagine a storm brewing on the horizon, threatening to disrupt the calm seas of the US economy. Will this storm, known as a recession, hit our shores soon? Just like a skilled sailor who reads the weather, the intelligent investor must analyse various indicators to position his portfolio as we sail into 2024.

Positioning for the new year and beyond

Year to date, 2023 is turning out to be a year to remember, not for portfolio gains but for the risks that investors have had to deal with. It started with the US Federal Reserve’s interest rate policy that saw the federal funds rate move above 5% in 12 months. Then there was the Russia-Ukraine c...

Pitfalls & Pitch Calls: Quick answers to big questions

Prime Minister Datuk Seri Anwar Ibrahim recently tabled Budget 2024 in parliament, allocating a record RM393.8 billion to federal government expenditure.The government’s largest-ever budget shows Malaysia’s resolve to re-establish its economic prowess in Asean. It also signals a bold move towards...

Pitfalls & Pitch Calls: Budget 2024: A disciplined approach to economic revival

On Sept 1, Prime Minister Datuk Seri Anwar Ibrahim followed through on the next steps of the Madani Economy by introducing the New Industrial Master Plan (NIMP) 2030. NIMP 2030 is a development plan for the nation’s industrial sectors. It is structured under four missions and comes with four enab...

Pitfalls & Pitch Calls: Building a high-income nation, leveraging our existing strengths

On Aug 12, 2023, some Malaysians went to the polls to select their state representatives. Six states were involved this round, and the results carried significant implications for national alliances and the political analysts out there. However, state election outcomes will not alter the core of ...

Pitfalls & Pitch Calls: From state elections to economic overhaul: Malaysia’s road ahead

In the previous article, a case was made for fixed-income assets in the new environment of high interest rates and attractive yields for investors. With the portfolio on solid ground, the next asset class to look at is equities. Since the start of 2023, several macroeconomic indicators have point...

Pitfalls & Pitch Calls: Recession is bad for equities?

The federal government is determined to eradicate hardcore poverty in Terengganu within the next two months, said Prime Minister Datuk Seri Anwar Ibrahim.

He said as of May 2, there were 1,663 families in the state still in the hardcore poor group.

Hardcore poverty in Terengganu to be eradicated in two months

The number of Americans filing new claims for unemployment benefits rose last week to the highest level in more than eight months, further evidence that the labour market was cooling.

US weekly jobless claims highest in more than eight months

Property developer Kerjaya Prospek Property Bhd (KL:KPPROP) will jointly develop a piece of freehold land in Aspen Vision City, Batu Kawan, Penang into a mixed development that will include a hotel and serviced apartments.

Kerjaya Prospek Property to jointly develop Penang plot with Aspen group

Prime Minister Datuk Seri Anwar Ibrahim on Thursday held a closed-door meeting with Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar and attended a briefing on the development of the state at Wisma Darul Iman here.

Anwar, Terengganu MB hold closed-door meeting

SINGAPORE (May 9): Wilmar International Ltd has secured a US$100 million (S$135.7 million) sustainability-linked loan from Malayan Banking Bhd (KL:MAYBANK).

Wilmar secures US$100m sustainability-linked loan from Maybank

China's largest contract chipmaker SMIC reported a first-quarter revenue rise of 19.7% on Thursday, as its global customers rebuilt their inventories.

Chinese chipmaker SMIC says revenue up 20% as clients restock

SINGAPORE (May 9): Fraser and Neave, Ltd has reported a 2% year-on-year rise in revenue for its 1HFY2024 to S$1.07 billion, with its key food and beverage business having been the key driver.

Fraser & Neave’s 1H earnings jump despite flattish revenue, thanks to lower costs

China Eastern Airlines has announced the launch of a daily passenger flight service starting June 30, connecting Nanjing, capital of east China's Jiangsu Province, with Kuala Lumpur, capital of Malaysia, reported Xinhua.

New passenger air route to link Nanjing and Kuala Lumpur

KUALA LUMPUR (May 9): The East Coast Rail Link (ECRL) project has started its system installation works, marking the final phase of construction works before entering the testing and commissioning stage.

ECRL project contractor commences system installation works

Bank Negara Malaysia (BNM) did not surprise the market by keeping the overnight policy rate (OPR) at 3%.

Economists, in general, do not see any valid reason for BNM to either raise or cut the benchmark interest rate for the rest of 2024 despite contrasting regional monetary policy moves thus far.

No reason for BNM to move OPR either way till year-end, economists argue

The property arm of Sunway Bhd (KL:SUNWAY), Sunway Property's newly launched Sunway Velocity 3 residential project has achieved a take-up rate of 60%, with over 400 out of 695 units snapped up during its opening weekend on May 4.

Sunway Velocity 3 residential development 60% taken up at launch 

Shares of VSTECS Bhd (KL:VSTECS) climbed to a new all-time high on Thursday as investors scrambled for a piece of the company that has been appointed the country’s first distributor of Amazon Web Services (AWS).

VSTECS shares hit new record high on Amazon Web Services partnership

Transport Minister Anthony Loke on Thursday said the ship allegedly owned by an Israeli company while using a port in this country has actually changed ownership. It now belongs to another company based in Hong Kong.

Alleged Israeli ship that recently docked in Malaysia has changed hands, Loke clarifies

A total allocation of RM180 billion in the construction sector for government and private sector projects will be up for grabs this year, according to Deputy Works Minister Datuk Seri Ahmad Maslan.

RM180 bil available for construction sector jobs this year — Ahmad Maslan

MEMBERS’ ability to decide not to transfer existing Employees Provident Fund (EPF) savings into the newly created Flexible Account 3 for anytime withdrawals is seen as the saving grace to what critics deem as a short-sighted compromise that will prove to have longer-term consequences.

I...

Cover Story: Who pays for anytime EPF withdrawals?

Shares of Sarawak Cable Bhd (KL:SCABLE) fell to its lowest in five months on Wednesday after the loss-making cable manufacturer's so-called resuscitation exercise has been terminated.

Sarawak Cable shares fall to five-month low after losing its white knight

KUALA LUMPUR (May 9): The Securities Commission Malaysia has finally managed to charge a man related to a securities fraud involving RM17.6 million in 2007, following his arrest on his return to Malaysia on Wednesday (May 8) after having evaded authorities for 15 years.

Man who evaded the law for 15 years charged with abetment in securities fraud

Malaysia’s central bank on Thursday left the benchmark interest rate unchanged as widely expected, citing improving economic activity amid moderate inflation.

BNM keeps overnight policy rate unchanged as widely expected

Shares of Kerjaya Prospek Group Bhd (KL:KERJAYA) surged to a new record high on Thursday, as investors bet on better earnings growth for its upcoming financial results for the first quarter ended March 31, 2024 (1QFY2024).

Kerjaya Prospek shares at fresh record high on expectation of better 1Q

The Federal Court on Thursday agreed to hear the merits of the appeal filed by the National Feedlot Corporation Sdn Bhd (NFCorp) and four others, including its chairman Datuk Seri Mohamad Salleh Ismail, for damages against Public Bank Bhd (KL:PBBANK).

At the same time, the apex court also granted leave to Public Bank's cross-appeal, to challenge the outcome of the Court of Appeal’s decision that had overturned the High Court’s decision to grant RM10,000 in damages to NFCorp and others, and RM500,000 in costs to be paid by the bank.

Apex court allows merits of both NFCorp and Public Bank appeals to be heard in account info leak case

LBS Bina Group Bhd (KL: LBS) has launched SkyRia, the latest addition to its D'Island Residence project in Puchong.

LBS Bina launches RM457 mil SkyRia residential project in Puchong

Solarvest Holdings Bhd (KL:SLVEST) said on Thursday that it has secured a contract worth RM40.4 million to install rooftop solar photovoltaic (PV) systems.

Solarvest bags RM40.4m contract from Scientex to install rooftop solar PV systems

Mah Sing Group Bhd (KL:MAHSING), via its unit Star Residence Sdn Bhd, officially launched its latest serviced apartment development named M Zenya in Kepong, Kuala Lumpur on May 9 during the opening ceremony of its sales gallery at Sungai Mas Plaza at Jalan Ipoh.

Mah Sing officially launches M Zenya serviced apartment in Kepong with 92% take-up

The government must ensure that foreign direct investments (FDI) to develop data centres in Malaysia will benefit local players, according to speakers at the National Economic Forum 2024 here hosted by the National Chamber of Commerce and Industry of Malaysia.

Govt urged to ensure FDI on data centres benefit local players

Malaysia’s largest telecom company by revenue Axiata Group Bhd (KL:AXIATA) may face earnings pressure from a potential merger of its unit PT XL Axiata with PT Smartfren Telecom in Indonesia, and investors should sell the stock, said MIDF Amanah Investment Bank.

MIDF says Axiata may face earnings pressure ahead, downgrades stock to 'sell'

Glove manufacturer Supermax Corp Bhd (KL:SUPERMX) is acquiring the remaining 33% equity interest in its 67%-owned subsidiary Supermax Healthcare Canada Inc (SHCI) for C$5.5 million (RM18.96 million) cash.

Supermax is acquiring the stake from Sylvain Bergeron, who has been a business partner of the company since 2004 when Supermax's founder and managing director Datuk Seri Stanley Thai Kim Sim partnered with Bergeron to start the Canadian branch of Supermax.

Supermax acquires remaining stake in 67%-owned loss-making Canadian unit for RM18.96 mil cash

Former finance minister Tun Daim Zainuddin has failed in his appeal to reinstate his legal challenge against the Malaysian Anti-Corruption Commission (MACC) over its investigation into his and his family’s finances, which had led to the freezing of their various accounts and the seizure of Ilham Tower.

Daim and family fail to reinstate legal challenge against MACC investigations and criminal charges

MCE Holdings Bhd said Brahmal Vasudevan has emerged as a substantial shareholder with a 5.02% indirect stake in the automotive parts and accessories manufacturer.

Brahmal held 6.2 million shares in MCE via Creador Conscienta Ltd, who raised its stake beyond 5% following the acquisition of 100,000 shares earlier on Thursday.

Creador’s Brahmal emerges as substantial shareholder of MCE Holdings

KUANTAN (May 9): An armoured vehicle plant will be built&nbsp;in the Padang Tengku Industrial Estate (Phase II) to further boost the development of the Lipis district as a defence city, thus stimulating the economic growth of the local population, as well as job opportunities.

Armoured vehicle plant to be built in Lipis — Pahang MB

WhatsApp’s begun working freely and consistently for some users in China despite a longstanding government ban on the messaging service, an unusual phenomenon for a country with some of the world’s strictest internet curbs.

Michael Lai

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Michael Lai

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