The Securities Commission Malaysia (SC) said it is looking into a complaint filed by South Malaysia Industries Bhd (SMI), in which the group accused that some parties acting in concert violated the Capital Markets and Services Act 2007 (CMSA) in accumulating shares without making a mandatory general offer (MGO).

SC to look into SMI's complaint alleging breach of mandatory general offer requirements by parties acting in concert

KUALA LUMPUR (Sept 7): Boustead Naval Shipyard Sdn Bhd (BNS) has assured that there will be no major delays in the construction of littoral combat ships (LCS) despite its termination of two main contractors of the project.

No further delay in LCS project despite termination of contractors — BNS

KUALA LUMPUR (Sept 7): Malaysian semiconductors players’ latest quarterly results were largely mixed with growth of certain companies moderating, weighed by prolonged supply chain disruptions and the easing of consumer electronics demand from the pandemic high.

Malaysia’s semiconductor outlook turns cloudy after mixed 2Q earnings

KUALA LUMPUR (Sept 6): Boustead Heavy Industries Corp Bhd (BHIC) will not be penalised for mismanagement and irregularities related to the troubled littoral combat ship (LCS) project.

No penalty for BHIC over LCS mismanagement

KUALA LUMPUR (Sept 2): With the upsized dividend of RM50 billion from Petroliam Nasional Bhd (Petronas) this year, economists are optimistic that it will be sufficient to help fund the government’s subsidy bill, which is expected to eventually hit a whopping RM80 billion — the highest in history.

Additional RM25 bil dividend from Petronas can meet hefty subsidy bill, say economists

The number of reported cybercrime incidents in Malaysia has grown over time, especially with banks and their customers as targeted victims.

Cybercrime incidents on the rise in Malaysia, says Sophos

Electronic prescription telemedicine provider DOC2US aims to raise between US$8 million to US$10 million which will be utilised for research and development (R&D) in its e-pharmacy model, data analytics and human resources.

DOC2US seeks to raise US$8 million to US$10 million for expansion

Lim Hwee Bin, the wife of former Goldman Sachs banker Roger Ng Chong Hwa who is indicted in the United States (US), is scheduled to leave Malaysia and testify in her husband's defence next week.

Roger Ng's wife to travel to US next week to testify

In an exclusive interview, SEMI president and CEO Ajit Manocha (pictured) said the longer-term growth outlook is exceptional and exciting, with projections pointing to the industry more than doubling revenue to approximately US$1.3 trillion (RM5.43 trillion) by 2030.

Global semiconductor equipment materials industry revenue to hit US$1.3tril by 2030, says SEMI

KUALA LUMPUR (July 9): As the nation labours to move forward in fighting the coronavirus pandemic, Sunway Education Group announces exciting news for students with the opening of its Sunway International School’s new campus in January 2023.

Sunway Education Group’s new RM300 mil school campus to open in 2023

Sarawak and Sabah hold the ignominy of having the highest sales of illicit cigarettes in Malaysia which costs an estimated RM5 billion in tax revenue to the government annually.  

In an email response to theedgemarkets.com, Retail and Trade Brands Advocacy Malaysia (RTBA Malaysia) said that in Sarawak, illicit cigarettes made up 86.1% of market share versus legitimate cigarettes, while it is 81% in Sabah.

Sarawak, Sabah top spots for illicit cigarettes

Utusan Malaysia, the oldest Malay-language newspaper in the country, will carry on despite the operational shutdown of its former holding company Utusan Melayu (M) Bhd today, says the latter's executive chairman Datuk Abd Aziz Sheikh Fadzir.

"Utusan will live on. We are liquidating the holding company but the ownership of the printing licences [has] been acquired by Aurora Mulia and they will relaunch publications in the near future," Abdul Aziz told theedgemarkets.com.

'Utusan will live on,' says executive chairman

KAJ Development Sdn Bhd will resume two projects under the RM43 billion Melaka Gateway plan after the Transport Ministry allowed the company to appeal against the government's earlier decision to scrap the development.

Melaka Gateway developer to resume projects, withdraws suit

Telekom Malaysia Bhd (TM) said today the sale of non-core property assets, such as land and buildings, is consistent with the group's strategy to create long-term value shareholders by strengthening the balance sheet and focusing the company's portfolio on its core business that will drive growth.

TM: Non-core property asset sale to create long-term value for shareholders

MORNING CALL: 8/11/24

A spate of lacklustre debuts throughout October fails to dent sentiment as issuers charge ahead with their initial public offerings (IPO) while investors still want a piece of the market action.

Issuers charge ahead with IPOs, investors unfazed despite string of weak debuts

Asian equities were set to climb Friday after a cross-asset rally in the US lifted stocks, bonds and commodities as the Federal Reserve cut interest rates.

Australian stocks and equity futures for Japan and Hong Kong all rose, while the Golden Dragon index of US-listed Chinese companies rallied 3.5%.

Stocks, bonds rally as Federal Reserve cuts rates

Donald Trump’s victory in the US presidential election has cleared an immediate hurdle for new European stock sales, but uncertainties around tariffs and other policies raise questions over the region’s longer-term prospects.

Spanish utility Cox Abg Group SA and Croatian grocery chain Studenac Group SA have pressed on with initial public offerings this week in an attempt to list before investors close up shop for the year.

Trump’s tariff risks to loom over Europe’s 2025 IPO pipeline

Oil rose, tracking equity markets, as traders digested competing narratives on how Donald Trump’s presidency will affect the crude market. 

West Texas Intermediate advanced 0.9% to settle above $72 a barrel, helped by the weakening dollar and climbing equities.

Oil rises as traders dissect production, geopolitics under Trump

Federal Reserve Chair Jerome Powell said he would not resign from his role if asked to do so by a re-elected Donald Trump, following the Fed’s decision Thursday to lower interest rates by a quarter percentage point. 

When asked at a post-meeting press conference whether he would step down if requested by Trump, Powell replied forcefully, “No.”

Fed cuts rates; Powell says wouldn’t resign if asked by Trump

Stocks hit fresh all-time highs, climbing alongside bonds and commodities, in a concerted cross-asset advance that by one measure was the best for a Federal Reserve day in 2024.

Equities extended their post-election rally, with the S&P 500 approaching 6,000 and notching its 49th record this year.

Wall Street has best Fed day of 2024 across assets

Americans are coming to terms with renting as an alternative to an increasingly unaffordable market for homebuyers.
 
The share of respondents who say they’d rent if they were going to move rose to a record 36% in a new survey by Fannie Mae, the government-backed mortgage finance giant.

Americans prefer to rent with market beyond reach of homebuyers

Human capital management provider Ramssol Group Bhd (KL:RAMSSOL) said its 51%-owned subsidiary in Thailand has secured a contract worth 275 million baht (RM35.61 million) to undertake an artificial intelligence (AI) healthcare solutions project for a hospital.

Ramssol’s unit bags RM36 mil AI-powered healthcare project in Thailand

Donald Trump should call President Vladimir Putin to open up a line of communications with Russia and ultimately push towards a ceasefire in Ukraine, Hungarian Prime Minister Viktor Orban’s top aide said.

Trump should call Putin to push Ukraine peace, says Orban aide 

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.

Ekovest, Eco World, Mah Sing, Pentamaster, Sentral REIT, KKB Engineering, Microlink, FGV, Southern Steel 

The Malaysian Anti-Corruption Commission (MACC) has found several suspicious transactions in an investigation into investment losses of RM43.9 million in FashionValet Sdn Bhd.

MACC spots suspicious transactions in probe into FashionValet investment loss

The US Federal Reserve (Fed) is expected to reduce its benchmark policy rate by a quarter of a percentage point at the end of its policy meeting on Thursday, a decision that may seem a footnote given the uncertain economic terrain the central bank may soon be navigating under a second Trump administration.

Fed to cut rates, but with a new landscape to decipher after Trump win

Southern Steel Bhd (KL:SSTEEL) said it has settled its legal dispute over the construction of a hot rolled coils (HRC) plant with Italian plant builder Danieli &amp; C Officine Meccaniche SpA, which started in August 2016.

Southern Steel reaches RM187m settlement with Italian plant builder

Prime Minister Datuk Seri Anwar Ibrahim reaffirmed Malaysia's commitment to strengthening collaboration with China, emphasising both trade and broader global objectives.

Anwar: Malaysia committed to strengthening collaboration with China beyond trade

Federal Reserve Chair Jerome Powell said he would not resign from his role if asked to do so by a re-elected Donald Trump, following the Fed’s decision Thursday to lower interest rates by a quarter percentage point.&nbsp;

When asked at a post-meeting press conference whether he would step down if requested by Trump, Powell replied forcefully, “No.”

Software company Microlink Solutions Bhd (KL:MICROLN) on Thursday said it has secured a RM83.51 million contract from the Ministry of Home Affairs (KDN) to develop and supply an advanced passenger screening system for the Immigration Department.

Microlink bags RM84 mil contract to develop screening system for Immigration Department

FGV Holdings Bhd (KL:FGV) on Thursday said its indirect subsidiary FGV Bulkers Sdn Bhd is being sued for allegedly breaching an agreement for the supply of palm kernel shells.

FGV’s unit sued over alleged breach of supply agreement

A spate of lacklustre debuts throughout October fails to dent sentiment as issuers charge ahead with their initial public offerings (IPO) while investors still want a piece of the market action.

The US stocks rally is nowhere near done, according to Evercore ISI strategists, who see Donald Trump’s plans to slice through red tape propelling the S&amp;P 500 Index another 11% through the middle of next year.

The bull market in US stocks is just starting, Evercore says

Kumpulan Jetson Bhd (KL:JETSON), which is being sued by OCR Group Bhd (KL:OCR) over alleged breaches of an RM88.03 million contract to build four blocks of serviced apartments in Jalan Yap Kwan Seng here, said on Thursday it is not a party to the disputed contract under OCR's suit as Jetson Construction Sdn Bhd (JCSB) — which was contracted to undertake the job — is no longer its subsidiary.

Kumpulan Jetson says it is not a party to disputed contract under OCR’s RM88 mil suit

Human capital management provider Ramssol Group Bhd (KL:RAMSSOL) said its 51%-owned subsidiary in Thailand has secured a contract worth 275 million baht (RM35.61 million) to undertake an artificial intelligence (AI) healthcare solutions project for a hospital.

Huawei has provided hundreds of mobile network sites as well as cloud services and intelligent operation centres in Sarawak, which have helped improve wireless network coverage in remote areas, accelerating the country’s digital transformation, said Prime Minister Datuk Seri Anwar Ibrahim.

Huawei helps to accelerate country's digital transformation — PM 

The Bank of England (BOE) cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual as it predicted the British government's first budget would lead to higher inflation and economic growth.

Bank of England cuts rates but sees higher inflation after Reeves's budget

Inflation concerns and worries about increasing Bund supply after the government collapse in Germany triggered a sharp rise in euro area yields and led Germany's 10-year swap spread to hit its lowest level more than 20 years.

Germany’s 10-year swap spread hits lowest in 20 years as government collapses

The head of HSBC Holdings plc’s new global wholesale banking division said the lender will seek to wrap up an ongoing restructuring “very quickly” and could announce the first round of job cuts within weeks.

HSBC’s Roberts says first round of job losses coming in weeks

Asian equities were set to climb Friday after a cross-asset rally in the US lifted stocks, bonds and commodities as the Federal Reserve cut interest rates.

Australian stocks and equity futures for Japan and Hong Kong all rose, while the Golden Dragon index of US-listed Chinese companies rallied 3.5%.

Singapore’s Changi Airport will charge passengers and airlines more to fly in and out of the city-state to help finance a S$3 billion (US$2.3 billion or RM9.99 billion) upgrade of its terminals.

Singapore’s Changi Airport to raise flying fees to fund upgrade

The physical progress of the Sabah Pan Borneo Highway (LPB) Phase 1A project stands at 78% and is expected to be completed by the first quarter of 2026, said Works Minister Datuk Seri Alexander Nanta Linggi.

He added that Phase 1B of the project has reached 2.4% progress, with completion set for 2029.

Sabah Pan Borneo Highway Phase 1A reaches 78% progress — Nanta

Home Minister Datuk Seri Saifuddin Nasution Ismail defended the use of the Security Offences (Special Measures) Act 2012 or Sosma in the investigation involving GISB Holdings Sdn Bhd (GISB).

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