Panasonic Manufacturing Malaysia Bhd’s net profit shrank 53.42% to RM7.35 million for its fourth quarter ended March 31, 2023 (4QFY2023), from RM15.78 million a year earlier, due to lower revenues, higher operating and utilities costs, as well as lower share of profits from its associated company.

Panasonic Malaysia’s 4Q earnings down 53%, declares 107 sen dividend

Tesla Inc’s Elon Musk joined Apple Inc’s Tim Cook, Mercedes-Benz Group AG’s Ola Källenius and other car and technology company bosses in emphasising the importance of maintaining ties with China in his first visit to the country since before the pandemic.

Musk echoes Apple, Mercedes CEOs on importance of China ties

The Nasdaq led gains among Wall Street's main indexes on Tuesday (May 30), boosted by shares of Nvidia, amid optimism about lawmakers tentatively agreeing to raise the nation's debt limit to avert a default.

Nasdaq boosted by Nvidia, tentative debt deal cheer

MyEG Services Bhd’s net profit rose 25.18% to RM105.94 million in the first quarter ended March 31, 2023 (1QFY2023), from RM84.63 million a year ago.

MyEG net profit grew 25% in 1Q on better margins, fair value gains from investment in Agmo

Vestland Bhd has bagged an RM170 million design and build contract to undertake the main building and associated works for the small office home office (SOHO) and retail units in Subang Jaya.

Vestland wins RM170 mil contract to build and design Subang SOHO project 

KPJ Healthcare Bhd’s net profit rose 134.44% to RM51.9 million in the first quarter ended March 31, 2023 (1QFY2023), from RM22.14 million a year earlier, mainly driven by the performance from the Malaysian segment.

KPJ Healthcare’s 1Q profit more than doubles to RM52m

The Higher Education Ministry (MOHE) has invited all industry players to assist it in developing the best Technical and Vocational Education and Training (TVET) programme in the future.

MOHE invites industry players to assist in developing best TVET programme

Farm Fresh Bhd’s net profit dropped 72.35% in the fourth quarter ended March 31, 2023 (4QFY2023) to RM4.89 million from RM17.68 million a year ago, despite delivering an all-time high revenue, as elevated raw material costs and foreign exchange rate fluctuation ate into its profit.

Farm Fresh logs weakest quarterly earnings since listing on rising input costs

Integrated energy infrastructure group Wah Seong Corp Bhd is not seeking consolidation with other oil and gas (O&G) companies, according to incoming managing director (MD) Giancarlo Maccagno.

Wah Seong wants to focus on energy, no plans to merge with other O&G players

(May 30): JPMorgan Chase & Co has quietly built a global unit focused on catering to the ultra-wealthy and their investment firms as it looks to expand services to the world’s super-rich.

Created just before the pandemic and led by JPMorgan veteran Andy Cohen, the business now...

JPMorgan builds unit for world’s richest families in wealth bet

Switzerland's Social Democratic Party has drawn up a proposal to shrink UBS assets after its takeover of Credit Suisse to reduce the risk of another expensive state-backed rescue, its lawmaker was quoted as saying on Tuesday (May 30).

Switzerland's Social Democrats propose shrinking UBS assets

Vestland Resources Sdn Bhd, a wholly owned unit of Vestland Bhd, has bagged a RM170 million design-and-build contract from Tafi Home & Office Sdn Bhd, bringing the group's total outstanding order book to about RM1.7 billion.

Vestland unit bags RM170m design-and-build contract

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Pestech International Bhd, through its wholly owned unit Pestech Sdn Bhd’s joint venture with China Energy Engineering Group Tianjin Electric Power Construction Co Ltd, has secured a US$81.77 million (RM376.26 million) contract from Iraq’s Ministry of Electricity.

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