KUALA LUMPUR (May 30): Bursa Malaysia eased in early trade on Tuesday (May 30) with the trading muted and dampened by a lack of market-moving news, as traders cautiously await soon-to-be-released manufacturing index prints globally.

Bursa Malaysia drops below 1,400 level in early session on May 30

KUALA LUMPUR (May 30): The ringgit continued to retreat against the US dollar in the early session on Tuesday (May 30), ahead of a decision on the US debt ceiling.

Ringgit continues downtrend against US dollar in early session on May 30

KUALA LUMPUR (May 30): HSBC Amanah Malaysia Bhd (HSBC Amanah) was awarded the Best International Islamic Bank at the Euromoney Islamic Finance Awards.

In a statement on Monday (May 29), the bank said the award by Euromoney recognised the strength of HSBC Amanah in several categories inc...

HSBC Amanah named Best International Islamic Bank 2023 by Euromoney

KUALA LUMPUR (May 30): The El Nino phenomenon is expected to occur in Southeast Asia sometime next month and the resulting hotter and drier weather is set to exacerbate the haze situation in the region.

El Nino to worsen haze situation in Malaysia

KUALA LUMPUR (May 30):  The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds 12 entities to Investor Alert List, four being potential clones

PUTRAJAYA (May 30): The Malaysian Foreign Ministry (Wisma Putra) congratulated Türkiye president Recep Tayyip Erdoğan on his re-election for another five-year term.

Wisma Putra congratulates President Erdogan over historic win

KUALA LUMPUR (May 30):  CGS-CIMB Securities has upgraded Kotra Industries Bhd to “Hold” at RM5.60 with an unchanged target price (TP) of RM5.74 and said Kotra’s 9MFY6/23 core net profit was largely in line with house and consensus estimates.

In a note on Monday (may 29), the resear...

CGS-CIMB upgrades Kotra after share price correction, keeps RM5.74 target price 

KUALA LUMPUR (May 30):  Hong Leong Investment Bank (HLIB) Research has maintained its “Sell” rating on Petronas Chemicals Group Bhd (PetChem) at RM6.87 with a lower target price (TP) of RM5.83 (from RM6.54) and said PetChem registered 1Q23 core net profit of RM604 million (-29% q-o-q, -71% y...

PetChem’s profits will show a steep y-o-y decline in FY23f, says HLIB Research 

KUALA LUMPUR (May 30):  Fugitive financier Low Taek Jho still has a Cyprus passport, according to a new investigative series by Greek journalist Makarios Drousiotis, who is rolling out a fiery multi-part expose that shows rampant corruption involving politicians, service providers, land deve...

Jho Low still has a Cyprus passport – report

Here is a brief recap of some corporate announcements that made news on Monday (May 29): Tenaga Nasional Bhd, Boustead Holdings Bhd, Petronas Chemicals Group Bhd, AMMB Holdings Bhd, Allianz Malaysia Bhd, Mah Sing Group Bhd, British American Tobacco (Malaysia) Bhd, Tropicana Corp Bhd,  IJM Corp Bhd, Dagang NeXchange Bhd, KLCCP Stapled Group Bhd, Padini Holdings Bhd, IGB Bhd, D&O Green Technologies Bhd, Malaysian Resources Corp Bhd, Tiong Nam Logistics Holdings Bhd, GDEX Bhd, Hengyuan Refining Co Bhd, Cloudpoint Technology Bhd, and S P Setia Bhd.

TNB, Boustead Holdings, PetChem, AMMB, Allianz, Mah Sing, BAT Malaysia, Tropicana, IJM, DNeX, KLCCP, Padini, IGB, D&O, MRCB, Tiong Nam, GDEX, Hengyuan, Cloudpoint, S P Setia

KUALA LUMPUR (May 29): Despite a 31.85% drop in its fourth quarter earnings, egg producer Lay Hong Bhd was back in the black for the financial year ended March 31, 2023 (FY2023).

The group’s quarterly net profit shrank to RM12.90 million in 4QFY2023, from RM18.93 million a year earlier,...

Lay Hong returns to profitability in FY2023 despite lower 4Q earnings

Datuk Seri Andy Lim Kok Han has ceased to be a substantial shareholder of Green Packet Bhd after disposing of 358.18 million shares in the group on Friday (May 26).

Bestinet CFO is new single largest shareholder of Green Packet  

KUALA LUMPUR (May 29): Ranhill Utilities Bhd’s net profit rose 50.7% to RM11.12 million for the first quarter ended March 31, 2023 (1QFY2023), from RM7.38 million a year earlier, as its three main business segments registered higher earnings.

Earnings per share rose to 0.86 sen from 0.5...

Ranhill Utilities’ 1Q earnings up 51% on higher contribution from business segments

Boustead Heavy Industries Corp Bhd (BHIC), the shipbuilding arm of Boustead Holdings Bhd, said it has receive a letter from the Minister of Finance Inc (MOF Inc) signalling its intention to acquire BHIC’s entire stake of 20.8% in Boustead Naval Shipyard Sdn Bhd (BNS).

Malaysia

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