Sports Toto Bhd (KL:SPTOTO) posted a net profit of RM67.6 million for the fourth quarter ended June 30, 2024 (4QFY2024), up 8.4% from RM62.3 million a year ago, driven by a stronger performance of its principal subsidiary, STM Lottery Sdn Bhd.

Sports Toto’s 4Q net profit rises 8.4%, declares two sen dividend

Original design manufacturer Uchi Technologies Bhd (KL:UCHITEC) said its second-quarter net profit grew 13.38% to RM32.17 million from RM28.37 million a year earlier, driven by the US dollar's appreciation against the ringgit.

Uchi Technologies' 2Q net profit grows 13%, declares 6.5 sen dividend

The disbursement of Sumbangan Tunai Rahmah (STR) Phase 3 payment to 8.5 million recipients will begin next Thursday (Aug 29).

The Ministry of Finance (MOF) said recipients would receive payment of up to RM650 according to their respective categories, with financial implications of RM1.7 billion.

STR Phase 3 payment for 8.5 million recipients from Aug 29, says MOF

Flexible packaging materials manufacturer Tomypak Holdings Bhd (KL:TOMYPAK) said it is disposing of a property in Senai, Johor for RM31 million, cash, as it seeks to realise the value of its investment in non-core assets.

Tomypak to sell non-core land, factory assets in Senai for RM31m

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

EVENING 5: Five things you need to know today

Telekom Malaysia Bhd (KL:TM) said on Friday an agreement to buy a stake in Digital Nasional Bhd (DNB) was terminated, after its request for additional time to seek shareholders’ approval was declined.

DNB calls off share sale agreement with TM

Pantech Group Holdings Bhd (KL:PANTECH) has confirmed that it will be listing two wholly-owned subsidiaries — Pantech Stainless & Alloy Industries Sdn Bhd (PSA) and Pantech Steel Industries Sdn Bhd (PSI) — on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV) named Pantech Global Bhd.

Pantech confirms plan to list two subsidiaries on Main Market via SPV

Hibiscus Petroleum Bhd’s (KL:HIBISCS) indirect wholly owned subsidiary Straits Hibiscus Sdn Bhd has signed an agreement to acquire a 30% participation interest in the Block PM327 production sharing contract (PSC).

Hibiscus Petroleum's indirect unit acquires 30% stake in Block PM327 production sharing contract

Allianz Malaysia Bhd (KL:ALLIANZ), which provides both life and general insurance, reported a flat net profit for the second quarter ended June 30, 2024 (2QFY2024), amid increased claims for fire and engineering losses, and higher insurance service results from the investment-linked protection business and higher net investment income.

Allianz Malaysia posts flat 2Q net profit of RM167m

Prime Minister Datuk Seri Anwar has urged the Royal Malaysian Police (PDRM) not to impose any restrictions on media organisations covering events organised by the police.

He also assured that he would immediately contact the PDRM regarding the matter.

PM urges PDRM not to restrict media access to police events

Infrastructure and engineering solutions provider Jati Tinggi Group Bhd (KL:JTGROUP) said on Friday that it has secured a contract to install 33kV aluminium cross-linked polyethylene (XLPE) underground cables and accessories for asset development in Selangor worth RM39.9 million.

In a bourse filing, Jati Tinggi said its wholly-owned subsidiary Jati Tinggi Holding Sdn Bhd (JTHSB) has accepted a Letter of Award (LOA) for the job from YM Teras Sdn Bhd.

Jati Tinggi secures RM39.9m contract to lay underground cables in Selangor

The Ministry of Plantation and Commodities (KPK) will apply for additional allocations to replant oil palm and rubber via the upcoming Budget 2025, said its Minister Datuk Seri Johari Abdul Ghani.

Plantation ministry seeks allocations for oil palm, rubber replanting in Budget 2025

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday

FBM KLCI down 0.36% to 1,635.74 on Aug 23, 2024

Unemployment continued to decline in the second quarter of 2024 (2Q2024), in line with increased demand for labour in the economic sector, according to the Labour Market Review, Second Quarter 2024 (LMR Q2 2024) released on Friday.

Number of unemployed persons continued to decline in 2Q — DOSM

India's Narendra Modi urged President Volodymyr Zelenskiy on Friday to sit down for talks with Russia to end the war and offered to act as a "friend" to help bring peace as the two leaders met in wartime Kyiv.

Indian PM urges Zelenskiy to sit down for talks with Russia

Fast fashion retailer Shein found two cases of child labour at its suppliers last year, it said in its 2023 sustainability report, as it stepped up audits of manufacturers in China to assuage criticisms of its low-cost business model ahead of a planned flotation.

Shein reveals two child labour cases as it steps up supplier audits

BEIJING (Aug 23): China's President Xi Jinping discussed stepping up cooperation with Britain in finance, the green economy and artificial intelligence in a phone call with Prime Minister Keir Starmer on Friday, Chinese state media said.

The Chinese leader also congratulated Starmer on ...

China's Xi talks AI cooperation in call with British PM — report

Nestle CEO Mark Schneider was ousted in a sudden move by the world's biggest foodmaker as a result of the group's underperformance, three sources familiar with the matter told Reuters on Friday.

Nestle CEO Schneider was ousted, paving way for veteran Freixe — Reuters

Societe Generale SA is withdrawing from the London Metal Exchange’s (LME) open-outcry trading floor, in a move that will raise fresh questions about the viability of the iconic “Ring” as a key price-setting mechanism in global metal markets.

LME trading floor faces fresh blow as Societe Generale exits

In today’s edition of Evening 5:

0:06 TNB gets RM1m summary judgement against firm owned by Lee Kim Yew and wife
1:26 S P Setia says president and CEO Choong Kai Wai will stay, denies report of departure
2:36 Sime Darby Property has 'aggressive' plan for data centre development, says MD
4:02 Decision on letter of representation almost finalised in Rosmah's money-laundering case
5:12 Affin Bank says margin could continue to narrow in short term amid shrinking deposits

EVENING 5: Lee Kim Yew’s firm ordered to pay RM1m TNB bill

Thousands of people rallied in several cities in Indonesia on Friday, pressuring its poll body to issue rules for regional elections amid outrage over an attempt by parliamentary allies of President Joko Widodo to change them in their favour.

Protesters rally again in Indonesia as tempers flare over political manoeuvres

Tenaga Nasional Bhd (KL:TENAGA) had on Thursday afternoon obtained a summary judgement of RM1.005 million, against Cenmal Commercial Sdn Bhd — a subsidiary of Country Heights Venture Sdn Bhd and Mines Cruise Sdn Bhd.

Founder and adviser of Country Heights Holdings Bhd (KL:CHHB) Tan Sri Lee Kim Yew and his wife Puan Sri Tan Bee Hong hold shares in Country Heights Venture and Mines Cruise, according to Companies Commission data.

TNB gets RM1.005 million summary judgement against company owned by Lee Kim Yew and wife

Shares of Genetec Technology Bhd (KL:GENETEC) plunged on Friday to their lowest in more than three years in active trade amid broad decline in the technology sector.

Genetec shares plunge to July 2021 low, nine-day sell-down wipes out RM614m value

Equities in Indonesia and Malaysia are standing out as bright spots in Asia this month as global investors trim their exposure to almost every other market in the region.

Indonesia, Malaysia are outliers as foreigners sell Asian stocks

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

Bank Negara Malaysia (BNM) said on Friday it has imposed a penalty on Bank of China’s operations in the country for failing to comply with a rule on outsourcing. An administrative monetary penalty of RM88,000 was imposed on Bank of China (Malaysia) Bhd for failing to obtain approval from the central bank before relocating two of its systems to new data centres in December 2022 and February 2023, BNM said in a statement.

BNM fines Bank of China Malaysia for relocating key systems without approval

Shares of Notion VTec Bhd (KL:NOTION) plummeted on Friday to their lowest in three months in highly active trade as investors reacted to bleak earnings guidance.

Notion VTec shares fall close to 29% to three-month low

Sime Darby Property Bhd (KL:SIMEPROP) said on Friday that it is pursuing an "aggressive plan" for data centre development.

“We do have aggressive plans for this, in terms of leasing our land,” group managing director Datuk Seri Azmir Merican said at an earnings briefing. “We aim to evolve into a real estate company with multiple income streams from property development, and are open to exploring new areas of growth,” he said.

Sime Darby Property has 'aggressive' plan for data centre development, says MD

Affin Bank Bhd (KL:AFFIN) flagged that margin could continue to narrow in the short term while the lender grappled with shrinking deposits amid intense competition.

Affin Bank says margin could continue to narrow in short term, records 4.7% gain in 2Q net profit

S P Setia Bhd (KL:SPSETIA) said on Friday Datuk Choong Kai Wai remains as the president and chief executive officer of the state-owned property developer.

S P Setia says CEO Choong Kai Wai will stay, denies report of departure

Prime Minister Datuk Seri Anwar Ibrahim said Tan Sri Muhyiddin Yassin's claim of support through 115 statutory declarations (SDs) is not true, which is why the&nbsp;Perikatan Nasional (PN) chairman was not appointed as the prime minister after the 15th general election (GE15).

Anwar dismisses Muhyiddin's claim to 115 SDs, says some MPs signed several times

Shares of EPB Group Bhd (KL:EPB) climbed 16.07% in their trading debut on Friday after the food processing and packaging machinery firm’s initial public offering (IPO) on the ACE Market raised RM62.48 million.

EPB Group gains 16% on ACE Market debut

Shares of MSM Malaysia Holdings Bhd (KL:MSM) fell to their lowest in ten months as the sugar refiner sank back into the red again after just two quarters of profit.

MSM Malaysia shares down to 10-month low as quarterly loss drags

Shares of UEM Sunrise Bhd (KL:UEMS) fell on Friday and wiped out more than two weeks’ gains after the property developer reported sharply weaker-than-expected second quarter results.

UEM Sunrise shares erase over two weeks' gain after weaker-than-expected 2Q

A decision is near on Datin Seri Rosmah Mansor's third letter of representation to drop all 17 charges in her money-laundering and tax-evasion case.

Decision on letter of representation almost finalised in Rosmah's money-laundering case

A former general manager of a travel agency told the Sessions Court on Friday&nbsp;that he found it odd or strange that the Perlis government had paid for the booking of reservations made by then menteri besar Datuk Seri Azlan Man, but when the cancellation was made, the travel agency had to pay it to Azlan.

Odd that booking paid by Perlis govt refunded to then MB Azlan after cancellation, says travel agency manager

Kossan Rubber Industries Bhd (KL: KOSSAN) received several upgrades from analysts on Friday after its first-half results came in mostly within expectations.

Analysts upgrade Kossan's ratings after 1H results meet expectations

Sime Darby Property Bhd (KL:SIMEPROP) expects a higher occupancy rate for Phase 3B of Battersea Power Station in the UK at between 50% and 80% by next year, from 20% currently.&nbsp;

Sime Darby Property aims to raise Battersea Phase 3B occupancy rate to 50%-80%

An Indian national woman is reported to have been trapped following a sinkhole incident in front of Masjid India here on Friday.

A spokesman for the Kuala Lumpur Fire and Rescue Department said the victim is believed to be a tourist, though no further details are available.

Woman tourist reportedly trapped in sinkhole in front of Masjid India

The latest investments by Amazon Web Services (AWS) underscore that Malaysia has much to offer to foreign businesses that go beyond tax incentives, said an economist.

Bank Muamalat Malaysia Bhd chief economist Dr Mohd Afzanizam Abdul Rashid said its strategic location, infrastructure, talent pool and pro-business policies are among its key attractions.

Amazon Web Services investment underscores Malaysia's many attractive offerings — economist

China has abruptly suspended its system for approving new steel plants, as the government responds to a deep demand slump that has crushed industry profits and fuelled a surge in exports.

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