KUALA LUMPUR (May 29): The liquidator for Serba Dinamik Holdings Bhd (SDHB) and Serba Dinamik Group Bhd (SDGB), Victor Saw Seng Kee, has filed an application to the High Court for a meeting of creditors and a meeting of contributories.

Serba Dinamik liquidator applies for meeting of creditors and contributories

KUALA LUMPUR (May 29): Malaysia attracted approved investments worth RM71.4 billion in the manufacturing, services and primary sectors for the first quarter (1Q) of 2023, according to the Malaysian Investment Development Authority (Mida).

Mida: Malaysia attracts RM71.4 bil in approved investments for 1Q2023

Bahvest Resources Bhd’s founder and managing director-cum-chief executive officer Datuk Lo Fui Ming said he and his son, Bahvest executive director Lo Tek Yong, are “seriously considering” resigning as directors of the Sabah-based gold mining company after many hurdles, including poison pen letter, boardroom tussles, authorities’ raid and halted mining production.

Bahvest founder Lo and son say 'seriously' considering resigning to focus on Southsea Gold

Bahvest Resources Bhd fell 8.89% at midday on Monday (May 29) to 20.5 sen, after the group's founder and managing director-cum-chief executive officer Datuk Lo Fui Ming said he and his son, Bahvest executive director Lo Tek Yong, were "seriously" considering resigning from the company, in a written representation.

Bahvest drops 8.89% after founder Lo says he and son 'seriously' consider resigning

Malaysia's maritime authorities on Monday (May 29) said cannon shells believed to be from World War Two were found on a China-registered bulk carrier ship detained at the weekend for anchoring in its waters without permission.

Malaysia detains Chinese ship linked to suspected illegal salvage of British WW2 wrecks

Bahvest Resources Bhd said it is unable to submit its fourth quarter (4Q) results by May 31, due to the recent raid by the Malaysian Anti-Corruption Commission (MACC) on the goldmine and business premises of its wholly-owned unit Wullersdorf Resources Sdn Bhd in Tawau, Sabah.

MACC had raided its accounting records on May 16 and therefore Bahvest's finance team is unable to finalise the results for the quarter ended March 31, 2023 within two months as required by Bursa Securities, the group said in a filing on Friday (May 26).

Bahvest said 4Q results delayed due to MACC raid, appoints three directors

KUALA LUMPUR (May 29): Public Investment Bank Bhd (PIVB) has estimated that eliminating fuel subsidies for the top 20% income group earners (T20) would increase inflation by an additional 0.45-0.75 percentage points (ppts) annually.

Inflation likely to rise extra 0.45-0.75ppts annually if T20 excluded from fuel subsidies, says PIVB

AMMB Holdings Bhd (AmBank Group) saw its net profit rise 9.23% to RM427.91 million in its fourth financial quarter ended March 31, 2023 (4QFY2023), from RM391.75 million a year ago, due to increase in the group’s fund based income from interest bearing assets and increase in the non-interest income.

AmBank posts 9% rise in 4Q net profit, declares 12.3 sen dividend

A decline in average product prices, coupled with higher utility and fuel costs, dragged Petronas Chemicals Group Bhd's (PetChem) net profit for the first quarter ended March 31, 2023 (1QFY2023) down 74.37% to RM532 million, from RM2.08 billion a year ago.

PetChem's 1Q net profit down 74% as product prices fall, operating costs rise

theedgemalaysia.com highlighted four stocks with positive momentum and three stocks with negative momentum at Bursa Malaysia’s afternoon break on Monday (May 29).

Ewein, EWI, Hextar, RGB, YTL Power, Mitrajaya, YTL Corp

The trial of Umno Supreme Council member Datuk Lokman Noor Adam, who is facing two charges of making and initiating offensive communications against former prime minister Datuk Seri Ismail Sabri Yaakob and the government, will begin in the Sessions Court here in September.

Lokman Adam's trial over offensive FB posts against Ismail Sabri to begin in September

The decision on whether former Labuan Member of Parliament Datuk Rozman Isli will be called to enter his defence, or acquitted of a charge of using his position to obtain an employment contract for Labuan Liberty Port Management Sdn Bhd (LLPM), will be known on Tuesday (May 30) in the Sessions Court here.

Power abuse case: Ex-Labuan MP Rozman to know whether he must enter defence on Tuesday

All five graft charges against Bersatu Segambut deputy division chief Adam Radlan Adam Muhammad in relation to the Jana Wibawa programme will now be heard in two separate Sessions Courts here, after two graft charges were allowed to be transferred from the Sessions Court in Shah Alam.

Jana Wibawa: Two graft charges against Adam Radlan in Shah Alam transferred to KL

Mah Sing Group Bhd's net profit for the first quarter ended March 31, 2023 (1QFY2023) rose 15.9% to RM50.06 million, from RM43.18 million a year earlier, on higher property sales.

In a bourse filing on Monday (May 29), Mah Sing also said its revenue rose 48.5% to RM643.5 million, from RM433.23 million previously.

Malaysia

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