Permodalan Nasional Bhd (PNB) and the Employees Provident Fund will be receiving a total of RM12.55 billion in FY2023 dividends from the top 50 Malaysian public-listed companies with substantial stake held by government-linked investment companies (GLICs), with PNB reaping RM6.6 billion, and the pension fund RM5.95 billion.

PNB, EPF bag RM12.55 bil in FY2023 dividends from top 50 PLCs

Trading volume of small-cap stocks that came under heavy selling pressure soared to record highs. Several of them dominated the most actively traded list on Monday as some share prices reversed their downward trend.

Battered small-cap stocks top active list; trading volumes swell to record 

More counters tanked on Bursa Malaysia on Wednesday, with several hitting limit-down and a couple having their short-selling suspended, as heavy selling pressure that first affected a few stocks last week appear to have spread.

Multiple stocks tank as sell-off spreads

As the third quarter (3Q) corporate earnings season concludes, a reassessment of valuations of stocks on Bursa Malaysia suggests a recovery in the semiconductor sector, while the renewable energy (RE) sector, with its deeper discounted valuations and growth forecast potential, could continue to entice investors next year.

Post-3Q earnings reveal steep discounts, growth potential in semiconductor, RE sectors

Kossan Holdings (M) Sdn Bhd (KHSB), the largest shareholder of Kossan Rubber Industries Bhd, distributed its 14.35% stake in the public-listed glove manufacturing company to founding family members.

Kossan Rubber’s largest shareholder distributes 14.35% stake to family members 

Lembaga Tabung Angkatan Tentera (LTAT) is planning to buy out Boustead Plantations Bhd (BPlant) at an offer price of RM1.55 per share.

LTAT buys out BPlant after KLK’s bid falls through

In this day and age, Malaysians are required to take a long and hard look at their retirement plans, as many are unlikely to retire comfortably without the right preparations.

The way forward for retirement planning

The proposed disposal of a 33% stake in Boustead Plantations Bhd (BPlant) by the Armed Forces Fund Board (LTAT) and Boustead Holdings Bhd to Kuala Lumpur Kepong Bhd (KLK) has fallen through, sources told The Edge.

RM1.15 bil Boustead-KLK deal falls through, say sources; govt seeks RM2 bil to 'save' LTAT

SPNB Aspirasi Sdn Bhd (SPNB Aspirasi), a wholly owned unit of national housing development company Syarikat Perumahan Negara Bhd (SPNB), has brought SPNB’s former CEO Datuk Ahmad Azizi Ali to court, alongside property developer Tunas Manja Development & Construction Sdn Bhd (TMDC) and 10 others on allegations of defrauding the government-owned entity.

SPNB sues ex-CEO, contractors for alleged fraud, seeks over RM141 mil in damages

Mercury Securities Group Bhd, controlled by Chew Sing Guan, a veteran of the stockbroking industry, has been the principal adviser for many initial public offerings (IPOs) over the decades.

ACE-bound Mercury Securities has three more IPOs in the pipeline this year

Engineering services group AWC Bhd is said to be acquiring the remaining 49% stake in its automated waste collection system subsidiary Stream Group Sdn Bhd.

AWC said to be acquiring remaining 49% stake in Stream Group      

Kuala Lumpur Kepong Bhd (KLK) is believed to be buying a 33% stake in Boustead Plantations Bhd from Lembaga Tabung Angkatan Tentera (LTAT), according to sources.

KLK to buy major stake in Boustead Plantations from LTAT, and to take firm private

Khairy Jamaluddin’s office on the third floor of a shoplot at Damansara Heights — an affluent residential area in Kuala Lumpur — doubles up as a mini studio for his podcast recording. Many heavyweight politicians and ministers have been to this posh office for the Keluar Sekejap podcast.

A chat with KJ: An insider's look at the 2023 state polls from outside the ring

SkyWorld Development Bhd, whose shares have been trading below its initial offering price (IPO) of 80 sen since it debuted on the Main Market of Bursa Malaysia on July 10 (Monday), is committed to achieving a return on equity (ROE) of over 20% for its shareholders going forward.

SkyWorld Development aims to maintain above 20% ROE with RM4.08 bil new launches in next three years

KUALA LUMPUR (May 10): Bursa Malaysia Bhd expects strong equities market performance in 2024, attributed to positive news on foreign direct investment (FDI), notably Microsoft’s US$2.2 billion investment in a cloud and AI hub.

Bursa sees equities market strengthening in 2024 on FDI inflows; optimistic of hitting IPO targets

Sarawak Cable Bhd says it has identified "a strong alternative party" who is interested in spearheading a resuscitation plan for the group, after its plan to regularise its financials with the help of UK-based Serendib Capital Ltd fell through.

Sarawak Cable says it has 'strong' backup after losing Serendib Capital as white knight

Malaysia is ready to continue strengthening relations with Singapore under incoming prime minister Lawrence Wong, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia ready to strengthen ties with Singapore under new PM Wong, says Anwar  

US stocks rose on Friday, as investors eagerly awaited comments from Federal Reserve officials to get more clarity on the US monetary policy path, after economic data this week supported bets of interest rate cuts.

Wall Street gains ahead of Fed officials' remarks; Dow nears 40,000 mark

KUALA LUMPUR (May 10): Ajiya Bhd (KL:AJIYA) has entered into a loan agreement with Chin Hin Group Bhd (Chin Hin)(KL:CHINHIN) to provide a loan of up to RM250 million to Chin Hin.

Ajiya to loan Chin Hin RM250m for acquisition, expansion plans

Muar Member of Parliament (MP) Syed Saddiq Syed Abdul Rahman has filed an application seeking temporary release of his passport to enable him to travel to Singapore and Taiwan.

Syed Saddiq seeking temporary release of passport to travel to Singapore, Taiwan

KUALA LUMPUR (May 10): Genting Singapore Ltd reported on Friday that its earnings for 1QFY2024 had nearly doubled than that of the year earlier.

Genting Singapore nearly doubles 1Q earnings thanks to China-Singapore visa-free travel

BCM Alliance Bhd’s (KL:BCMALL) largest shareholder Kiu Cu Seng has disposed of his entire shareholding of 305.12 million shares, or a 15% stake, in the company.

BCM Alliance’s largest shareholder sells off 15% stake bought via ESOS

PUTRAJAYA (May 10): The Ministry of Finance (MOF) has cautioned the public about potential scams involving the official Rahmah cash aid (STR) or Rahmah basic donation (Sara) lines, where large payments are requested.

MOF: Be wary if you receive calls related to Rahmah cash aid, basic donation

A weekly round-up of tanker and dry bulk market (May 10, 2024)

Baltic Exchange shipping updates: May 10, 2024

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

KUALA LUMPUR (May 10): Datin Seri Rosmah Mansor faces another legal action, this time revolving around from 1Malaysia Development Bhd (1MDB), SRC International Sdn Bhd and subsidiaries over luxury goods that were allegedly obtained through misappropriated funds.

1MDB, SRC file fresh civil suit against Rosmah over US$350 mil luxury goods

KUALA LUMPUR (May 10): Paramount Corp Bhd (KL:PARAMON) bought a 21.54% stake in Eco World International Bhd (EWI)(KL:EWINT) for RM170.61 million in cash.&nbsp;

Paramount buys 21.5% stake in Eco World International from Quek Leng Chan for RM170.61m, cash

With signs of a simmering settlement with the government in one of the longest-standing civil land disputes in history dissipating, the Court of Appeal (COA) has fixed Sept 19 to hear the appeal by Semantan Estate (1952) Sdn Bhd in its seven-decade dispute over 263.272 acres of land along Jalan Duta that is currently occupied by public properties.

No settlement in sight, Semantan Estate’s appeal to resume in September

Bank Negara Malaysia (BNM) imposed a RM96,250 compound on Habib Jewels Sdn Bhd for non-compliance with the law on anti-money laundering and counter-terror financing.

BNM slaps Habib Jewels with RM96,250 compound for failing to report suspicious transactions

Shares of Sungei Bagan Rubber Co (Malaya) Bhd (KL:SBAGAN) rose as much as 76 sen or 15.29% to a new record high on Friday, following news a privatisation bid for Great Eastern Holdings Ltd, in which it owns a 1% stake.

Sg Bagan shares jump 15% to record high on Great Eastern privatisation bid

CIMB Securities Sdn Bhd, a unit of CIMB Group Holdings Bhd (KL:CIMB), said on Friday it is targeting “high” single-digit growth in market share by year end.

CIMB Securities eyes single-digit growth in market share by year end

SINGAPORE (May 10): Oversea-Chinese Banking Corporation Ltd (OCBC) has announced a S$1.4 billion voluntary unconditional general offer for the 11.56% stake in Great Eastern Holdings (GEH) that it does not currently own.

Singapore’s OCBC makes privatisation bid for Great Eastern with S$25.60 offer price

KUALA LUMPUR (May 10): Personal care products retailer Innature Bhd (KL:INNATURE) said on Friday that it is acquiring the operator of Burger &amp; Lobster restaurants for RM21.25 million in a related-party deal as part of a diversification plan.

Innature to acquire Burger & Lobster operator for RM21.25m from major shareholders

KUALA LUMPUR (May 10): Bursa Malaysia Securities Bhd (Bursa Securities) on Friday lifted AwanBiru Technology Bhd (KL:AWANTEC), formerly Prestariang Bhd, from its status as an affected listed issuer, after three years.

Bursa lifts Awantec from affected issuer status after three years

Shares of Globetronics Technology Bhd [KL:GTRONIC] surged on Friday as analysts project a promising outlook for the group's earnings in the second half of the financial year 2024 (2HFY2024), despite first quarter performance below consensus expectations.&nbsp;

Globetronics surges to one-month high as analysts project strong outlook for 2HFY2024

KUALA LUMPUR (May 10):&nbsp; <a href="https://theedgemalaysia.com/" target="_blank">theedgemalaysia.com</a> highlighted three stocks with positive momentum and five stocks with negative momentum at Bursa Malaysia’s afternoon close on Friday. &nbsp;

Kuchai, VSTECS, AHB, Mclean, Kluang, Prtasco, Skywld, Kobay

Elon Musk touted plans to expand Tesla Inc’s Supercharger network just over a week after firing almost all of the roughly 500 people who ran the business.

Elon Musk changes tune on Tesla Superchargers after mass firing

Tan Sri Azam Baki's contract as chief commissioner of the Malaysian Anti-Corruption Commission has been extended for another year, starting&nbsp;this Sunday (May 12).

Azam Baki’s contract as MACC chief commissioner extended for another year

KUALA LUMPUR/MUMBAI (May 10): Malaysia’s palm oil stocks increased at the end of April for the first time in six months, as production jumped despite a drop in exports, the industry regulator said on Friday.

Malaysia’s palm oil stocks surge as output jumps despite weak exports

Malaysia’s industrial output rose at a faster-than-expected pace in March from a year earlier with the manufacturing sector leading broad gains, the Department of Statistics Malaysia (DOSM) said on Friday.

Malaysia's industrial output grows faster-than-expected in March, official data shows

CelcomDigi Bhd has completed 44% of its nationwide network integration and modernisation&nbsp;programme as it modernised over 7,200 sites as at end-April, leading to improved download speeds of 20% to 26% and better signal strength of 13% to 16% in post-consolidation areas.

CelcomDigi completes 44% in nationwide network modernisation programme

Supermax Corp Bhd’s (KL:SUPERMX) plan to take full control of its loss-making Canadian unit will drag on its balance sheet and income statement, Kenanga Investment Bank flagged.

Supermax's full acquisition of Canadian unit will drag on earnings — Kenanga

<h3>Directors’ duties with respect to&nbsp;financial statements</h3>

In 2011, in the case of Australian Securities and Investments Commission v Healy &amp; Ors, the Federal Court of Australia delivered an important ruling and laid down important principles of law on the standard of care for th...

My Say: Court rulings on chairperson’s and directors’ duties raise cautions for holders of these posts

MIDF Amanah Investment Bank started coverage of Allianz Malaysia Bhd (KL:ALLIANZ) with an above-consensus target price of RM23.37, citing stronger-than-average insurance growth and solid dividend yields.

CEO Morning Brief

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CEO Morning Brief

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