SD Guthrie Bhd (KL:SDG) has won the silver award at The Edge Malaysia ESG Awards 2024 in the plantation sector, a recognition attributed to its robust ESG strategy rooted in long-term sustainability.

ESG strategies drive SD Guthrie’s long-term sustainability success

Tenaga Nasional Bhd (KL:TENAGA) won the silver award at The Edge Malaysia ESG Awards 2024 in the utilities category, thanks to its comprehensive ESG initiatives, says president and CEO Datuk Megat Jalaluddin Megat Hassan. He emphasises that the company’s carbon management strategy, alongside a robust governance framework, is essential for achieving its ambitious sustainability goals.

Tenaga driven by its comprehensive ESG strategies

Malaysian Resources Corp Bhd (MRCB) (KL:MRCB) has won the gold award at The Edge Malaysia ESG Awards 2024 in the most consistent performer over five years category.

MRCB’s ESG strategies yield promising results

Hektar Real Estate Investment Trust (Hektar REIT) (KL: HEKTAR) has won the gold award at The Edge Malaysia ESG Awards 2024 in the outstanding ESG performance and dividend return category, showcasing its ability to balance occupancy growth with sustainability initiatives.

Hektar REIT balances occupancy growth with sustainability initiatives

KPJ Healthcare Bhd (KL:KPJ) has won the silver award at The Edge Malaysia ESG Awards 2024 in the outstanding ESG performance and dividend return category. Its president and managing director Chin Keat Chyuan attributes the win to KPJ Healthcare’s future-focused and innovative Green Healthcare framework, which centres on both human and planetary health.

KPJ Healthcare innovates with ESG

Hong Leong Bank Bhd (HLB) said Monday (May 30) that its net profit for the third quarter ended March 31, 2022 (3QFY22) rose 1.73% to RM784.8 million from RM771.47 million a year ago due to lower allowance for impairment losses on loans, advances and financing as well as higher share of profit from an associated company.

Hong Leong Bank’s 3Q net profit up marginally by 1.73% to RM784.8m on lower allowance for impairment losses

PublicInvest Research said on Monday (May 30) that it had derived a fair value of 34 sen for Unitrade Industries Bhd based on an 11 times price-earnings multiple to its 2023 forecast earnings per share of 3.1 sen. Unitrade Industries is en route for an ACE Market listing on June 14 with an initial public offering (IPO) price of 32 sen.

PublicInvest Research derives fair value of 34 sen for Unitrade Industries, 6% above IPO price

British American Tobacco (Malaysia) Bhd (BAT Malaysia) emerged as the top loser on Monday morning (May 30), falling as much as 58 sen or 4.54% to RM12.20, after its net profit for the first quarter ended March 31, 2022 (1QFY22) missed analysts' expectations.

BAT Malaysia emerges as top loser after 1Q net profit missed expectations

Pestech International Bhd said Friday that its net profit for the third quarter ended March 31, 2022 (3QFY22) fell 54.5% to RM6.52 million from RM14.33 million in the same quarter last year, as revenue dropped on lower contribution from the rail division as most active projects are at their tail end while new ones are just starting.

The group’s revenue for 3QFY22 fell 16.26% to RM192.63 million from RM230.03 million in 3QFY21, its bourse filing showed.

Pestech’s 3Q net profit halves as revenue drops with active rail jobs nearing completion

Bursa Malaysia said on Friday (May 27) the proprietary day traders short selling and intraday short selling of Power Root Bhd shares have been suspended as the instant coffee maker's share price dropped more than 15 sen or 15% from the reference price, which refers to the stock's closing price of RM1.69 on Thursday (May 26).

Bursa suspends Power Root short selling after price slump

Spritzer Bhd (KL:SPRITZER) said it will spend between RM90 million and RM100 million in 2025 to upgrade and expand its production.

Spritzer to spend up to RM100m in 2025 to upgrade, expand production

US President Donald Trump will extend a June 19 deadline for China-based ByteDance to divest the US assets of short video app TikTok by 90 days despite a law that had mandated a sale or a shutdown absent significant progress, the White House said on Tuesday.

Trump will extend TikTok sale deadline for third time, White House says

Ukrainian President Volodymyr Zelenskiy will leave the Group of Seven summit on Tuesday with new aid from host Canada for its war against invader Russia but without a joint statement of support from members or a chance to meet with US President Donald Trump.

The G7 wealthy nations struggled to find unity over the conflict in Ukraine after Trump expressed support for Russian President Vladimir Putin and left a day early to address the Israel-Iran conflict from Washington.

G7 abandons joint Ukraine statement as Zelenskiy says diplomacy in crisis

The S&P 500 declined on Tuesday as fears over a potential US involvement in the conflict between Israel and Iran caused traders to take risk off the table.

The S&P 500 Index closed down 0.8% in New York, while the tech-heavy Nasdaq 100 Index lost 1%.

S&P 500 falls with geopolitics in focus amid Israel-Iran jitters

Rollout of generative AI and agents will reduce Amazon's total corporate workforce in the next few years, Andy Jassy, the CEO of the online retailer, said in a note to employees on Tuesday.

Amazon's corporate workforce may shrink as AI takes over routine tasks

US retail sales dropped more than expected in May, weighed down by a decline in motor vehicle purchases as a rush to beat potential tariff-related price hikes ebbed, but consumer spending remains supported by solid wage growth for now.

Weak US retail sales, manufacturing output point to softening economy

Here is a brief recap of Tuesday’s top local business news and corporate announcements.

Apollo, UWC, Jaycorp, Chin Hin, KPJ Healthcare, Malaysia Marine and Heavy Engineering, Yinson

South Malaysia Industries Bhd (KL:SMI) on Tuesday said it has rejected a proposal to nominate Teh Chee Hoe and three others as directors at its upcoming annual general meeting, citing violations of corporate and securities regulations.

SMI rejects board nominations ahead of AGM over regulatory concerns

Top officials from central banks and finance ministries were forced to call a timeout at a meeting of the world’s most powerful financial watchdog last week, amid clashes over the US stance on climate change.

US draws ire of France, Canada at meeting of finance regulators

Wall Street's main indexes slipped on Tuesday as the Israel-Iran conflict entered its fifth day, denting global investor confidence ahead of the Federal Reserve's upcoming monetary policy decision.

Wall Street slips as Middle East conflict escalates

Malaysia is still in the process of verifying news reports of a Chinese firm using servers equipped with Nvidia chips to train its artificial intelligence (AI) model.

Malaysia still verifying reports of Chinese firm using Nvidia-equipped servers to train AI model — Miti

Airline entrepreneur Tony Fernandes, CEO of AirAsia owner Capital A Bhd (KL:CAPITALA), said on Wednesday he is in talks to buy 50 to 70 Airbus A321XLR jetliners, but signalled the first priority was to complete the group's restructuring.

AirAsia owner seeks jets for growth but restructuring first priority, CEO says

Pharmaniaga Bhd (KL:PHARMA) said on Wednesday that it will continue to stay in the black for the financial year ending Dec 31, 2025 (FY2025) after making a turnaround last year, according to the pharmaceutical group’s managing director Zulkifli Jafar.

Pharmaniaga eyes FY2025 revenue of RM4b, plots PN17 exit by 1Q next year

Australia's Woodside Energy has entered an agreement with a unit of Malaysian state-owned oil and gas firm Petronas to supply liquefied natural gas (LNG) to Malaysia starting 2028, the two companies said on Wednesday.

Australia's Woodside Energy signs 15-year LNG supply deal with Petronas

Petroliam Nasional Bhd (Petronas) president and group chief executive officer Tan Sri Tengku Muhammad Taufik Tengku Aziz said the oil price of US$50 per barrel is an ideal break-even to maintain the national oil firm’s financial resilience and support steady energy investments.

Petronas chief sees US$50 oil price as break-even to sustain investments

Guocoland (Malaysia) Bhd (KL:GUOCO) said the group faces a net financial impact of RM5.54 million following an arbitration ruling against its wholly owned subsidiary over a disputed project termination.

Guocoland faces RM5.5 mil impact after arbitration loss to contractor

MN Holdings Bhd (KL:MNHLDG), an infrastructure utilities construction and engineering solutions group, said it has secured a RM39.59 million contract for the expansion of the electrical supply system for a cable landing station.

MN Holdings wins RM40 mil data centre-linked job

The Ministry of Health (MOH) has reaffirmed that private healthcare providers will still be required to implement the diagnosis-related group (DRG) system, although the initial rollout will be limited to selected public hospitals.

Private hospitals subjected to DRG system, says health minister

Pan Merchant Bhd (KL:PMIBHD), en route to the Ace Market, deserves premium valuations due to its operating cost and product price advantage over its international peers, said Malacca Securities.

Pan Merchant deserves higher valuations, says Malacca Securities in dissenting note

The US may keep elevated tariffs on Southeast Asian countries amid data suggesting that China is diverting goods through the region to avoid higher levies, according to Nomura Holdings Inc.

Nomura says US to set high SE Asian tariffs to stop China rerouting

Residents claimed to have heard a booming sound&nbsp;and experienced tremors in parts of the&nbsp;Ipoh district on Wednesday morning.

Mysterious booming sound heard again in Ipoh, police investigating

AirAsia has announced flight disruptions to and from Bali, Lombok and Labuan Bajo, following the eruption of Mount Lewotobi in Indonesia's East Nusa Tenggara region.

AirAsia cancels, reschedules flights following Mount Lewotobi eruption

Muhammed Yusoff Rawther, who is suing Prime Minister Datuk Seri Anwar Ibrahim for alleged sexual assault via a civil suit, is asking for Anwar’s stay application hearing at the Court of Appeal, scheduled for July 21, to be changed to instead hear Anwar’s appeal for his constitutional questions regarding the immunity from civil cases of a sitting prime minister to be put to the Federal Court.

Yusoff Rawther wants Anwar's appeal over constitutional questions of immunity for PM heard on July 21

Here is a brief recap of Wednesday’s top local business news and corporate announcements&nbsp;involving:&nbsp;Pharmaniaga Bhd, Scientex Bhd, Dagang NeXchange Bhd, MN Holdings Bhd, Guocoland (Malaysia) Bhd, LGMS Bhd, Farm Price Holdings Bhd and&nbsp;Kobay Technology Bhd. 
&nbsp;

Pharmaniaga, Scientex, DNeX, MN Holdings, Guocoland, LGMS, Farm Price, Kobay

The government has kicked off the formal rollout of its Reset programme, a coordinated reform framework to overhaul the country’s healthcare financing system and curb escalating costs.

Govt looks to Reset strategy to tame rising healthcare costs, overhaul financing model

US rates traders have amassed a record futures bet that the Federal Reserve will take on a more dovish tilt right after chair Jerome Powell’s term ends in May 2026.

Traders pile into bets that next US Fed chair will slash rates

Two Sabah assemblymen and another individual are expected to be charged in court this month in connection with a corruption scandal involving mineral mining licensing in the state.

Mining graft case: MACC expects two Sabah reps to be charged this month

There is a need for Malaysia to consider retirement reforms and increase workforce participation among older adults, as the country faces rapid demographic shifts that could weaken long-term economic growth, according to the World Bank.

World Bank flags ageing risks, says Malaysia should weigh retirement reforms

DATUK Seri Dr Edmund Santhara Kumar, who made headlines in 2021 for taking 55 days leave to visit New Zealand at the height of the Covid-19 lockdown when he was the deputy minister of Federal Territories, and his wife Carline Johnson D’Cruz were recently fined by a New Zealand High Court for unau...

Court: Edmund Santhara and wife fined for breaches in Kiwi land deal

Dagang NeXchange Bhd (KL:DNEX) has secured a RM103.76 million contract from the government to continue providing support for the Integrated Government Financial and Management Systems (iGFMAS) over a period of 60 months.

Tan Siew Mung

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