Rise and shine! Here’s a trading idea before Bursa opens.

MORNING CALL: 7/4/23

In today’s edition of Evening 5: 

0:00 Over 21 million mobile phone numbers in M'sia leaked, sold to scammers — report
1:55 Malaysia continues to face policy-making challenges, says Fitch Solutions
3:26 AGC objects to Bersatu's bid to commence judicial review of freeze order on accounts
5:01 KLCCP Stapled Group expects ‘better’ financials in 2023 despite rising costs pressure
6:28 Rhone Ma-Kulim JV appointed to develop Jemaluang Dairy Valley in Johor

EVENING 5: Over 21 million mobile phone numbers in Malaysia compromised

Song Hoi-See, CEO and founder of the world’s first independent airport lounge operator Plaza Premium Group, explains how they managed to bounce back post-Covid=10

NEWS: How Plaza Premium group bounced back

MORNING CALL:6/4/23

In today’s edition of Evening 5: 

0:00 Hydroshoppe director charged with offering bribes to Annuar Musa for KL Tower concession
1:12 Hamzah Zainudin's son charged with violations linked to cooking oil subsidy
3:08 Nik Airina Nik Jaffar said to be appointed as PLUS Malaysia’s new MD and CEO
4:28 Guan Eng’s defence finally secures coveted WhatsApp messages between star witnesses
6:05 CGS-CIMB projects electricity tariff hike for domestic users in 2H2023

EVENING 5: Director charged for graft in KL Tower takeover

MORNING CALL: 5/4/23

In today’s edition of Evening 5: 

0:00 South Malaysia Industries lodges complaint with SC on alleged CMSA breach
1:47 Immigration DG confirms dept website hacked, says no data compromised
3:02 Too drastic to ban e-cigarettes and vape, Smoking Bill to be tabled in May
4:20 Malaysia’s economy to grow 4.7% this year, 4.9% in 2024, says ADB
5:44 Malaysia, China to discuss ‘Asian Monetary Fund’ to cut dollar dependency

EVENING 5: SMI lodges complaint with SC on alleged CMSA breach

MORNING CALL: 4/4/23

In today’s edition of Evening 5: 

0:00 EPF announces details of “Account 2 Support Facility” programme 
2:14 BLand’s extension bid to comply with public shareholding spread rejected 
3:52 PLS partners China’s Cofco to develop food security initiatives 
5:18 Reach Energy slips into PN17 status
7:07 Ex MAHB chief Bashir Ahmad is now MRT Corp chairman

EVENING 5: EPF announces details for savings to support programme

In The Edge Malaysia this week — We ask whether Malaysian banks are resilient enough to weather the current global turmoil.

EDGE WEEKLY: Higher for Longer

MORNING CALL: 3/4/23

In today’s edition of Evening 5: 

0:00  Apex court dismisses Najib’s bid to review SRC conviction 
2:29 Creador confirms exit from MR DIY for RM664 mil
4:08 Datasonic explains how it got the direct negotiation govt contracts
6:00 Minimal impact from fire at Top Glove plant 
7:26 Bioalpha gets greenlight to develop 21-acre agri hub in China

EVENING 5: Apex court dismisses Najib’s bid to review SRC conviction

Co-heads of the secretariat to the Advisory Committee to the Finance Minister Nurul Izzah Anwar and Khairil Anuar Ramli lay out what areas the committee will focus on and explain why the final report will be classified under the Official Secrets Act.

NEWS: ACFIN lays out focus areas, says final report classified under OSA

Datuk Seri Najib Razak’s lead counsel Tan Sri Muhammad Shafee Abdullah says that despite his disappointment over the losing the case, he was encouraged by what was said in the dissenting judgement.

NEWS: Shafee: “We were encouraged by what was said in the minority judgement”

LB Aluminium Bhd’s (KL:LBALUM) net profit climbed 62.67% to RM9.43 million for its fourth quarter ended April 30, 2024 (4QFY2024), from RM5.8 million a year before, on higher contributions from both the aluminium and property segments.

LB Aluminium’s 4Q net profit up 63%, declares 2.5 sen dividend

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

IJM, Samaiden, AmanahRaya REIT, Poh Huat, CN Asia, Kuchai Development, Sungei Bagan, Sapura

Kenya's president on Wednesday withdrew planned tax rises, bowing to pressure from protesters who had stormed parliament, launched demonstrations across the country and threatened more action this week.

Kenya president backs down on tax rises after deadly protests

WikiLeaks founder Julian Assange landed to an ecstatic welcome in Australia on Wednesday after pleading guilty to violating US espionage law in a deal that sets him free from a 14-year legal battle.

WikiLeaks founder Assange welcomed home in Australia a free man after US deal

Wall Street's main indexes were mixed on Wednesday, with technology stocks attempting to find a floor after recent selloff, while investors awaited a crucial inflation report this week to gauge the path of monetary policy.

Wall Street mixed as tech stocks attempt recovery, financials drag

UUE Holdings Bhd (KL:UUE), which is set to be listed on the ACE Market of Bursa Malaysia on July 2, said its net profit for the fourth quarter ended Feb 29, 2024 (4QFY2024) came in at RM1.27 million.

Engineering firm UUE posts RM1.27m quarterly net profit ahead of listing

Negotiations to bail out Atos SE were dealt another blow after its largest shareholder walked away from a plan to rescue the troubled French IT company, leaving it with dwindling options.
 
David Layani’s Onepoint, a smaller French tech company that holds the largest stake in Atos, had initially beat out a rival bid from billionaire Daniel Kretinsky’s EPEI to negotiate with Atos’s creditors. Now that those talks have failed, Kretinsky’s firm has said it would be willing to restart negotiations, Atos said in a statement on Wednesday.

Onepoint abandons rescue plan for Atos, leaving few options

The cut-off date for the proposed disposal of Kuchai Development Bhd’s (KL:KUCHAI) assets and liabilities to Sungei Bagan Rubber Company (KL:SBAGAN) in return for a 29.37% stake in Sungei Bagan has been extended by four months to October 29.

Kuchai Development-Sungei Bagan deal cut-off date extended by four months till Oct 29

PUTRAJAYA (June 26): Prime Minister Datuk Seri Anwar Ibrahim on Wednesday attended the 2024 Prime Minister's Department (JPM) Appreciation Ceremony honouring 1,019 outstanding personnel and retirees.

The event, held at the Putrajaya International Convention Centre, served as a recogniti...

Anwar honours 1,019 at PM Department's 2024 Appreciation Ceremony

Airbus SE has been warning airlines that some of their aircraft deliveries due in the next two years risk being delayed, an indication that supply-chain glitches at the world’s largest planemaker might extend well beyond the current year.

Airbus tells buyers some of their deliveries in 2025, 2026 may be delayed

The Securities Commission Malaysia said on Wednesday it has sued prominent investor Datuk Dr Yu Kuan Chon for alleged market rigging and manipulation involving shares of&nbsp; Shangri-La Hotels (M) Bhd (KL:SHANG) in 2018.

SC sues Yu Kuan Chon over alleged market rigging, manipulation

Sapura Energy Bhd (KL:SAPNRG) has granted chairman Datuk Mohammad Azlan Abdullah leave of absence with immediate effect to allow the 56-year-old to focus on ongoing investigations by the Malaysian Anti-Corruption Commission (MACC) regarding a matter unrelated to the oil and gas engineering group.&nbsp;

Sapura Energy grants chairman leave of absence amid unrelated MACC probe

Berjaya Tagar Sdn Bhd, a subsidiary of Berjaya Land Bhd (KL:BJLAND), officially launched an affordable residential project on Wednesday under Berjaya Flagship Affordable Homes (BFAH) called Pangsapuri Azalea in Subang Heights, Subang Jaya, Selangor.

Berjaya Land launches Pangsapuri Azalea affordable housing project in Subang Heights

Northern Solar Holdings Bhd, which installs solar panels and operates solar farms, has filed for an initial public offering (IPO) on the ACE Market to raise funds for expansion.

Northern Solar, backed by Lagenda Properties, files for ACE Market IPO 

Founder of Gamuda Bhd (KL:GAMUDA) Datuk Lin Yun Ling has exercised his share options under the Employees' Share Options Scheme (ESOS) to acquire 1.2 million shares at RM2.55 apiece.

Lin Yun Ling acquires 1.2 mil shares in Gamuda via ESOS

(June 26):&nbsp;Malaysia is in discussions with potential Chinese investors to build data centres in the Southeast Asian nation, as it seeks to attract more “high quality” investments, according to Economy Minister Rafizi Ramli.

Rafizi: Malaysia taps Chinese investors to build more data centres

The Employees Provident Fund (EPF) has become a substantial shareholder in electronic manufacturing services (EMS) provider Aurelius Technologies Bhd (KL:ATECH), with a 7.87% stake.

EPF purchased 15.07 million shares in the company on June 19, the same day ATech completed the private placement of shares after listing 39.4 million shares.

EPF emerges as Aurelius Technologies’ substantial shareholder with 7.87% stake

Private hospital operator KPJ Healthcare Bhd (KL:KPJ), in which Johor Corp (JCorp) owns a 44.99% stake, plans to add up to 5,000 hospital beds by 2028 as part of the group’s ongoing efforts for adding new beds, which began last year.

KPJ plans to add up to 5,000 hospital beds over four years

IJM Corp Bhd (KL:IJM) has secured a contract to design and build a data centre for a subsidiary of Telekom Malaysia Bhd (KL:TM) in Iskandar Puteri, Johor, for RM331.7 million.

The project — known as Block 2 of the Iskandar Puteri Data Centre — was secured from TM Technology Services Sdn Bhd via its wholly owned IJM Construction Sdn Bhd, IJM said in a statement on Wednesday.

IJM secures RM331.7 mil contract to build data centre for TM's unit in Iskandar Puteri

HSBC Malaysia&nbsp;maintained Malaysian equities on "underweight" despite recent gains, citing pressure on index-heavyweight banks and recent rise in valuations that cap further upside.

The renewed interest is largely due to Malaysia’s rapid rise as a crucial link in the global tech supply chain, HSBC said. Sectors ranging from equipment markers, chip designers to testers, construction companies, and power producers are benefiting from an inflow of foreign investment, it noted.

HSBC keeps Malaysian equities on 'underweight' despite recent rally

Indonesian companies are raising their concern over how the rupiah’s weakness is raising their costs.

Indonesian businesses sound alarm over rupiah’s continued slump 

Bank Negara Malaysia (BNM) may take supervisory actions and impose penalties for violations of regulatory provisions under its supervision, following recent incidents of online banking service&nbsp;outages.

BNM may take supervisory actions, impose penalties for banking service outages, Dewan Rakyat told

(June 26):&nbsp;In many parts of China, the warehouses and industrial parks that used to be a magnet for international investors are grappling with a surprising slowdown in business activity.&nbsp;

A US$100b bet on China’s economy sours as warehouses empty

KUALA LUMPUR (June 26): Analysts remain upbeat on Gamuda Bhd (KL:GAMUDA), which recently reported stronger quarterly earnings, given its extensive overseas exposure and substantial order book.

Analysts upbeat on Gamuda’s overseas venture, substantial order book

KUALA LUMPUR (June 26): Google’s latest investment highlights Malaysia’s competitiveness, ease of doing business&nbsp;and growing importance as a regional hub for digital innovation, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Zafrul: Google investment a testament to Malaysia’s current competitiveness

The initiative to elevate production up the value chain will position Malaysia at the forefront of the semiconductor industry, said Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

He said this move presents an opportunity for Malaysia to play a pivotal role in the global supply chain, especially amid the trade tensions between the US and China as companies are reconfiguring their supply chains.

Move up value chain will position Malaysia at forefront of semiconductor industry, says Zafrul

KUALA LUMPUR (June 26): After Malaysia’s approved investment grew&nbsp;13% in the first quarter (1Q2024), the country's approved investment growth for&nbsp;2024 should at least match its annual gross domestic product (GDP) growth, according to the Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

Zafrul: Malaysia’s 2024 approved investment growth should at least match its GDP growth after 1Q's 13% jump

The Assunta Hospital on Wednesday obtained leave (permission) from the High Court here in its judicial review application to challenge the Inland Revenue Board (IRB) director-general’s decision on May 15, 2023 to withdraw the hospital’s tax exemption status.

Assunta Hospital granted leave to challenge withdrawal of tax exemption status

Well Chip Group Bhd, the first pawnbroker en route to the Main Market of Bursa Malaysia, expects rising gold prices to boost its ability to lend more to its customers.

The company’s loan size is determined by the value of the collateral and more than 90% of its collateral from its customers is gold, said Well Chip’s non-executive director Yeah Chia Kai. That would allow the company to collect a higher amount of interest from its creditors, he noted.

Main Market-bound Well Chip expects rising gold prices to boost lending

Malaysia recorded foreign direct investment (FDI) net inflows of RM40.4 billion in 2023 from RM75.4 billion the previous year, says the Department of Statistics Malaysia (DOSM).

Chief statistician Datuk Seri Dr Mohd Uzir Mahidin said the decrease in FDI net inflow was mainly in equity and investment fund shares, reflecting the global economic slowdown.

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