Former health minister Khairy Jamaluddin is suing Sungai Besar Umno division chief Datuk Seri Jamal Md Yunos for RM1 million over Jamal's alleged defamatory statements.

KJ sues Jamal Yunos for RM1 mil over 'phantom votes' claim

KUALA LUMPUR (May 29): Sarawak’s Bintulu-based shipping and integrated logistics player Harbour-Link Group Bhd posted a 13% decline, or RM5.71 million drop in their net profit to RM37.1 million for the third quarter ended March 31, 2023 (3QFY2023), from RM42.81 million a year ago, owing to higher operating and administrative expenses.

The hike in administrative expenses was mainly due to the accrual of staff incentives, bonuses, and increments, the group explained.

Harbour-Link 3Q net profit drops on higher operating and administrative expenses

Shares of YTL Corp Bhd rose as much as 6.5 sen or 7.78% to extend Friday’s (May 26) gains, following analysts’ re-rating on the counter and listed subsidiaries YTL Power International Bhd and Malayan Cement Bhd, whose latest earnings beat expectations.

YTL-linked counters extend gains

MyEG Services Bhd is expected to launch its cross-border trade facilitation services — known as Ztrade — through its blockchain platform Zetrix in the third quarter of this year.

MyEG to launch cross-border trade facilitation services by third quarter of this year

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).

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