AT the time of writing, the 2019 novel coronavirus (Covid-19) had affected 100,257 people across the globe and claimed 3,408 lives. In Malaysia alone, the number of cases had risen from 22 to 83 last week.

China, the world’s second-largest economy and the origin of the outbreak, has the...

The State of the Nation: Covid-19 and the spectre of recession  

AFTER Gamuda Bhd and Lingkaran Trans Kota Holdings Bhd (Litrak) announced a proposal that would see the companies monetise their investments in four highways in the city, the spotlight is now on other concessionaires.

Heading the list is IJM Corp Bhd, which has two highways operating in...

Cover Story 2: More concessionaires likely to monetise highways 

IT was not a secret that a corporate exercise involving highways under Gamuda Bhd was in the offing. Nevertheless, the timing and the structure of the corporate exercise that was put in place caught the market by surprise.

Until early last Monday, nobody knew of the existence of an enti...

Cover Story 2: A reboot for toll highways 

WHILE perpetual bonds are hybrid in nature, sharing both the characteristics of bonds and equities, more often than not, they are classified as a type of equity rather than debt on the balance sheet of issuers.

As there is no contractual obligation from the issuer to redeem the instrume...

Perpetual bonds: The good and the bad

MISC Bhd’s maiden foray into the deep-water floating production, storage and offloading (FPSO) segment of the oil and gas (O&G) industry in Brazil will be closely watched this year.

According to S&P Global Ratings, any potential delays and cost overruns on the Mero 3 FPSO projec...

MISC’s Brazil FPSO project closely watched

GIVEN the worldwide interest in electric vehicles (EV), Bursa Malaysia-listed Ta Win Holdings Bhd is scouting for opportunities in the EV space by leveraging on the capabilities of its subsidiary, Cyprium Wire Technology Sdn Bhd (CWT).

Ta Win group managing director Datuk Seri Ngu Tieng...

Ta Win scouts for viable opportunities in global EV space

Notable filings

For the week of March 14 to 18, notable shareholding changes at Bursa Malaysia-listed companies included those at electronics contract manufacturer BSL Corp Bhd.

On March 4, Arena Evolusi Sdn Bhd acquired 28.99 million BSL shares, representin...

Insider Moves: BSL Corp Bhd, Fitters Diversified Bhd, Jerasia Capital Bhd, Wong Engineering Corp Bhd, TWL Holdings Bhd, Pertama Digital Bhd, Country Heights Holdings Bhd 

On April 1, Malaysia entered a new phase and transitioned to the endemic phase of Covid-19, where we all can pretty much return to an almost-normal life after two years of living with the pandemic.

Of course, this is a great relief, as the economy can fire up again, and our healthcare s...

Coffee Break: Things I will not miss about the pandemic

MALAYSIA’s ratification of the International Labour Organization’s (ILO) Protocol of 2014 to the Forced Labour Convention 1930 (No 29) is a good start in the road to combating forced labour in the country, say labour industry experts.

Malaysia became the 58th country in the world and th...

The State of the Nation: Malaysia’s ratification of ILO Protocol of 2014 a good start in combating forced labour

IHH Healthcare Bhd managing director and CEO Dr Kelvin Loh Chi-Keon is clearly striking while the iron is hot. Fresh from delivering strong numbers for financial year 2021, the company is looking to build on the momentum by revving up what Loh calls five growth engines — recovering from Covid-19;...

IHH ready for ‘heavy lifting’ with five growth engines

Americans are coming to terms with renting as an alternative to an increasingly unaffordable market for homebuyers.
 
The share of respondents who say they’d rent if they were going to move rose to a record 36% in a new survey by Fannie Mae, the government-backed mortgage finance giant.

Americans prefer to rent with market beyond reach of homebuyers

Human capital management provider Ramssol Group Bhd (KL:RAMSSOL) said its 51%-owned subsidiary in Thailand has secured a contract worth 275 million baht (RM35.61 million) to undertake an artificial intelligence (AI) healthcare solutions project for a hospital.

Ramssol’s unit bags RM36 mil AI-powered healthcare project in Thailand

Donald Trump should call President Vladimir Putin to open up a line of communications with Russia and ultimately push towards a ceasefire in Ukraine, Hungarian Prime Minister Viktor Orban’s top aide said.

Trump should call Putin to push Ukraine peace, says Orban aide 

Under Armour Inc reported results that surpassed analysts’ expectations as the sportswear company’s turnaround gains momentum under founder Kevin Plank.
 
In the second quarter, which went through September, sales and adjusted earnings topped the average estimate from analysts.

Under Armour surges as turnaround led by founder gains steam

Carlyle Group Inc top boss Harvey Schwartz said the clear outcome to the presidential election will give corporate chiefs and investors more security to make big decisions and do more deals.
 
“Being past the election has removed market uncertainty,” Carlyle’s chief executive officer said on an analyst call on Thursday, after the firm reported its third-quarter financial results.

Carlyle CEO says swift US election results will recharge dealmaking

The head of HSBC Holdings plc’s new global wholesale banking division said the lender will seek to wrap up an ongoing restructuring “very quickly” and could announce the first round of job cuts within weeks.

HSBC’s Roberts says first round of job losses coming in weeks

The number of Americans filing new applications for unemployment benefits rose slightly last week, suggesting no material change in the labour market and reinforcing views that hurricanes and strikes had resulted in job growth almost stalling in October.

US weekly jobless claims increase marginally; unit labour costs growth strong

Home Minister Datuk Seri Saifuddin Nasution Ismail defended the use of the Security Offences (Special Measures) Act 2012 or Sosma in the investigation involving GISB Holdings Sdn Bhd (GISB).

Home ministry defends use of Sosma in GISB case

Huawei has provided hundreds of mobile network sites as well as cloud services and intelligent operation centres in Sarawak, which have helped improve wireless network coverage in remote areas, accelerating the country’s digital transformation, said Prime Minister Datuk Seri Anwar Ibrahim.

Huawei helps to accelerate country's digital transformation — PM 

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

Ekovest, Eco World, Mah Sing, Pentamaster, Sentral REIT, KKB Engineering, Microlink, FGV, Southern Steel 

(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.

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

IOI Properties Group Bhd (KL:IOIPG) has retracted a proposal on redevelopment of the Shenton House to be deliberated at a shareholders meeting on Thursday while it considers its options on the project.

IOI Properties withdraws Shenton House proposal at shareholders meeting while it considers options

The federal government on Thursday disputed Semantan Estate (1952) Sdn Bhd’s possession of the 263.72-acre (106.72-hectare) ‘Duta Enclave’ prime land, saying that the company, which is presently under liquidators’ control, is only entitled to monetary compensation based on the Government Proceedings Act 1956 (GPA) and the Specific Relief Act 1950 (SRA).

Lawyers dispute govt's claim that Semantan Estate only entitled to compensation, not return of Duta Enclave land

Eco World Development Group Bhd (KL:ECOWLD), via its 81%-owned subsidiary Mutiara Balau Sdn Bhd, is buying 10 parcels of land measuring 847.25 acres in Semenyih, Selangor for RM742.41 million, cash. It plans to use the plots&nbsp;for&nbsp;a new mixed development called Eco Forest 2, which&nbsp;is expected to have an estimated gross development value of RM4.6 billion.

EcoWorld to fork out RM742m cash to buy 10 plots of Semenyih land from Boustead Group for new RM4.6b mixed project

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 

SINGAPORE (Nov 7): Genting Singapore has reported a net profit after taxation (NPAT) of S$79.4 million (RM263.36 million) for its 3QFY2024 ended Sept 30, 2024, 63% lower year-on-year (y-o-y) and 27% lower quarter-on-quarter (q-o-q), amid the slower recovery of international visitor arrivals to Singapore.

Genting Singapore’s 3QFY2024 net profit after taxation at S$79.4m, 63% lower y-o-y

KUALA LUMPUR (Nov 7): Metro Healthcare Bhd (KL:MHCARE) announced that the 24.47 million shares available to the public in its initial public offering (IPO) was oversubscribed by 38.6 times.

Public portion of Metro Healthcare’s IPO oversubscribed by 38 times

KUALA LUMPUR (Nov 7): KKB Engineering Bhd has secured contracts worth a combined RM93 million from several companies with key projects in the industrial and infrastructure sectors.

KKB Engineering bags jobs totalling RM93m from Petros, other firms

Malaysia's state energy firm Petroliam Nasional Bhd (Petronas) on Thursday said it has lifted the force majeure on gas supply to one of its liquefaction terminals, Malaysia LNG Dua, starting Nov 1.

Petronas lifts force majeure on gas supply from Malaysia LNG Dua

The Malaysian government on Thursday launched the InvestMalaysia portal, which aims to be a one-stop gateway for investors to obtain information on Malaysia, to attract global investors and strengthen the country's position as an investment destination.

Malaysia launches InvestMalaysia portal to attract global investors

A federal lawmaker from Sabah has alleged that one of the packages under the Pan Borneo Highway project in the state involved "multiple levels of subcontracting" and wants Putrajaya to terminate the contractor.

Sabah MP alleges 'multiple levels of subcontracting' in Pan Borneo Highway project

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

Road infrastructure construction firm Azam Jaya Holdings Bhd (KL:AZAMJAYA), set to list on the Main Market of Bursa Malaysia next Monday (Nov 11), reported a net profit of RM4.65 million or 0.93 sen per share for its second quarter ended June 30, 2024 (2QFY2024).

Construction firm Azam Jaya posts RM4.65 mil profit in 2Q ahead of listing

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

TMK Chemical Bhd said it has signed a retail underwriting agreement with Maybank Investment Bank Bhd in conjunction with the chemical company's initial public offering (IPO) on the Main Market of Bursa Malaysia.

TMK Chemical inks underwriting deal with Maybank for Main Market IPO

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

Malaysia's international reserves dipped slightly in October after the central bank accumulated the biggest hoard in nearly a decade.

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

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

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

Falling interest rates in advanced economies will be positive for the ringgit at a time when Malaysia keeps its policy rate unchanged while the economic fundamentals remain healthy, said Bank Negara Malaysia (BNM).

Supriya Surendran

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Supriya Surendran

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