Malaysian construction stocks fell further on Friday, as investors further cut their exposure to data centre plays, amid lingering fallout from intensifying US controls on advanced chip exports.

Construction stocks slip further as investors continue to cut exposure to M'sian data centre plays

Shares of Salutica Bhd (KL:SALUTE) fell to their lowest in nearly two years after the company lost its suit against Apple Malaysia Sdn Bhd in the Kuala Lumpur High Court.

Salutica falls as much as 45% after losing Apple suit in KL High Court

Malaysian construction stocks fell sharply on Thursday for the sixth straight day amid concerns over data centres being built as the US further tightens restrictions on advanced semiconductor exports.

Construction stocks extend decline sharply as SunCon falls over 10%

Malaysian construction stocks extended their decline on Thursday, amid wider market selldown sparked by worries of escalation in global trade tensions.

The retreat followed strong rallies of builders last year, which continued into the first week of 2025. “After having a good run, a healthy correction is expected, and any noise will trigger a pullback,” said Danny Wong, who manages assets worth over RM5 billion as the chief executive officer of Areca Capital.

Malaysian construction stocks extend decline on data centre concerns

Malaysia’s technology stocks broadly fell on Thursday following news reports that the US is planning to impose further export curbs on artificial intelligence (AI) chips to keep them out of the hands of China and Russia.

Malaysia's tech stocks broadly lower amid news of US export curbs on AI chips

KUALA LUMPUR (Jan 6): Shares of glove manufacturers rallied on Monday in active trade amid reports of new virus infections in China, though authorities have downplayed the infections as seasonal winter peak.

Glove stocks rally amid reports of new virus infections in China, MIDF shrugs off potential demand spike

KUALA LUMPUR (Jan 6): Shares of NationGate Holdings Bhd (KL:NATGATE) hit a fresh high on Monday, after gaining 23 sen or 9.1% at RM2.75, becoming the fifth biggest gainer on Bursa Malaysia.

NationGate hits new record high on first mover advantage, deliveries of AI GPU servers

Southern Cable Group Bhd (KL:SCGBHD) may win a contract to supply cables to the national electric utility, set to be announced within the next two months, Hong Leong Investment Bank (HLIB) flagged.

Southern Cable shares at record high; HLIB says company may win supply contract from Tenaga soon

Gamuda Bhd's (KL:GAMUDA) latest land acquisition is "decent” and “justifiable" and will allow the construction company to unlock its unique data centre delivery model, analysts said.

Gamuda’s latest land buy ‘justifiable’, analysts say; Chin Teck shares top two-year high

(Dec 31): India’s Adani Wilmar fell over 6% in early trade on Tuesday, a day after the Adani Group said it would sell its entire 44% stake in the consumer goods company in a US$2 billion (RM8.93 billion) deal to focus on strengthening its infrastructure businesses.

India’s Adani Wilmar falls on Adani group’s plan to offload stake

Shares of ECA Integrated Solution Bhd (KL:ECA) fell on Monday in active trade after the automation systems company reported another quarterly net loss and lost analyst coverage.

ECA Integrated falls after another quarter in the red, loses all analyst coverage

Shares of MyMBN Bhd (KL:MBN) fell on Friday to their lowest since listing 17 months ago, and below the initial public offering price, after the Malaysian government temporarily suspended bird's nest exports to China.

MyMBN shares slip to lowest on record after govt suspends bird's nest export to China

Shares of Tenaga Nasional Bhd (KL:TENAGA) rose on Friday to their new record high as analysts flagged potential earnings upside from implementation of Regulatory Period 4 (RP4).

Tenaga Nasional shares hit new record high as analysts flag upside from RP4

Shares of SNS Network Technology Bhd (KL:SNS) rose 17.5% in active trade on Thursday amid broader gains in the sector following the Christmas Eve rally of US technology stocks.

SNS Network rises 17% in highly active trade

The European Union (EU) is debating whether to drop a sensitive trade investigation against China over alleged coercive activity targeting Lithuania, a prospect that’s frustrated officials in Washington, where the incoming Trump team sees it as capitulation to Beijing.

President-elect Donald Trump has vowed to take a tough line on China and the possible EU move would reinforce for his team how the bloc will approach dealing with Beijing, according to people familiar with the matter.

EU mulls dropping China trade case, frustrating Trump team

The US Treasury department on Friday sanctioned Singaporean Yin Kechen and cybersecurity company Sichuan Juxinhe Network Technology Co, accusing both of being involved in a series of hacks against American telecom companies.

US Treasury Dept sanctions Chinese company over Salt Typhoon hack

German Chancellor Olaf Scholz pushed back against accusations that he is casting Ukraine aside in an attempt to drum up support for his trailing Social Democrats ahead of a snap election next month.

Speaking to reporters in Berlin, Scholz said he was ready to send an additional €3 billion (RM13.89 billion) to Ukraine so long as the funds were generated through net new borrowing and not budget cuts.

Scholz denies putting his own political survival over support for Ukraine

Wall Street's main indexes rose on Friday, with the S&P 500 and the Dow on track to log their biggest weekly gains since November, as investors anticipate a wave of policy changes under the incoming Trump administration.

Wall Street set for weekly advances in countdown to Trump presidency

The US Supreme Court refused to rescue TikTok on Friday from a law that required the popular short-video app to be sold by its Chinese parent company ByteDance or banned on Sunday in the United States on national security grounds — a major blow to a platform used by nearly half of all Americans.

US Supreme Court upholds law banning TikTok

The European Union (EU) and Mexico agreed to a revamped free-trade agreement, just as both are under pressure from president-elect Donald Trump, who has threatened them with a new round of tariffs.

The agreement aims to boost both trade and economic security by de-risking supply chains, securing a sustainable supply of critical raw materials and tackling climate change, according to a European Commission statement on Friday.

EU, Mexico seal trade deal as Trump threatens tariffs

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

CIMB, Berjaya Corp, Mitrajaya, HeiTech Padu, Datasonic, Petronas Gas, Dialog, Hong Leong Bank, JF Tech, Cosmos, MYMBN, Homeritz 

US President-elect Donald Trump and Chinese President Xi Jinping discussed trade, TikTok and fentanyl on Friday in a pre-inauguration conversation that could set the tone for relations between the world’s two largest economies and main geopolitical rivals.

“I just spoke to Chairman Xi Jinping of China,” Trump posted on social media. “The call was a very good one for both China and the USA.”

Trump and China’s Xi discuss trade, TikTok ahead of inauguration

Chrystia Freeland, the former Canadian finance minister who helped bring Justin Trudeau’s political career to an end when she resigned in December, has joined the race to replace him as prime minister.
 
Freeland, 56, announced her candidacy for the leadership of the Liberal Party in a social media post on Friday, betting that she can reverse the downward trend in opinion polls that has put the governing party on course for defeat in an election this year.

Chrystia Freeland joins contest to replace Canada’s Trudeau

US industrial production rose in December by more than forecast, helped by a pickup in factory output that indicates manufacturing is stabilising after two years of weakness.

US industrial production tops forecasts after Boeing strike ends

HeiTech Padu Bhd (KL:HTPADU) has secured a second-time contract extension for the provision of maintenance services for the Malaysian Immigration System (MyIMMs), valued at RM28.26 million. &nbsp;

HeiTech Padu, Datasonic awarded fresh contracts for immigration system maintenance

LONDON (Jan 17): Prime Minister Datuk Seri Anwar Ibrahim highlighted the success of the Madani Economy Framework, which was launched in 2023, during his lecture at the London School of Economics (LSE) on Friday.

He also announced that the government is set to launch a second chip design...

Malaysia to launch second chip design park 'in the coming weeks', says Anwar  

Mitrajaya Holdings Bhd (KL:MITRA) said it has secured a RM375.5 million contract for the construction of a data centre in Kuala Lumpur.

The construction group said the contract was awarded by NextDC Sdn Bhd, the Malaysian unit of Australia's data centre operator NextDC Ltd. &nbsp;

Mitrajaya clinches RM376 mil contract for data centre construction in KL  

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

JF Technology Bhd (KL:JFTECH) co-founder and managing director Datuk Foong Wei Kuong continued to mop up shares in Cosmos Technology International Bhd (KL:COSMOS) from MSM International Ltd.

JF Tech MD lifts Cosmos stake by 5.6% to 17.95%

Petronas Gas Bhd’s (KL:PETGAS) wholly owned subsidiary Regas Terminal (Pengerang) Sdn Bhd (RGTP) has executed and completed a share subscription agreement with Dialog Equity (Three) Sdn Bhd (DE3SB),&nbsp;for the development of Malaysia’s first liquefied natural gas (LNG)-driven air separation unit (ASU) in Pengerang, Johor.

Dialog to partake in Petronas Gas' LNG-driven air separation unit project

Upholstery furniture manufacturer Homeritz Corp Bhd (KL:HOMERIZ) said on Friday that the fire at one of its production facilities in Muar, Johor, has been confirmed to result in an estimated loss of RM3 million, and will be recognised in the company’s financial results for the quarter ending Feb 28, 2025 (2QFY2025).

Homeritz hit by RM3 mil loss in Muar facility fire, no insurance coverage

To boost regional business collaboration, United Overseas Bank (Malaysia) Bhd has inked what it said is a landmark memorandum of understanding (MOU) with the Singapore Chinese Chamber of Commerce and Industry (SCCI) and the Associated Chinese Chambers of Commerce and Industry of Malaysia (ACCCIM).

UOB inks MOU with Chinese chambers of commerce in Singapore, Malaysia to boost regional business collaboration

State-owned public transportation operator Prasarana Malaysia Bhd has yet to finalise the tender process for the open payment system for its transportation services, according to Transport Minister Anthony Loke Siew Fook.

Loke: Prasarana's cashless payment tender for Rapid transportations still pending

Malaysia's economic growth is expected to maintain a steady trajectory in 2025, despite external headwinds such as uncertainties in US tariff policies and global trade dynamics. Economists attributed the country's robust domestic resilience and strategic policy initiatives as key growth drivers.

Malaysia's economy poised for continued growth in 2025 despite external headwinds — economists

Honor Device Co chief executive officer George Zhao is stepping down due to personal reasons, according to the Shenzhen-based smartphone maker.

Honor CEO George Zhao steps down in company’s buildup to IPO

The Labuan Financial Services Authority (Labuan FSA) has reaffirmed its commitment to upholding the integrity of the Labuan International Business and Financial Centre (Labuan IBFC) following media reports of an alleged investment scam involving a licensed entity under its purview.

Labuan FSA promises decisive action following allegations of fraud by licensed entity

Samsung Electronics Co&nbsp;has decided to pay part of executives’ bonuses in stock rather than cash for the first time, linking pay to share performance at a time the company is struggling with chipmaking.

Samsung executives to get part of bonus in stock in big revamp

Norway’s central bank opened applications for head of the country’s US$1.8 trillion (RM8.1&nbsp;trillion) sovereign wealth fund with incumbent Nicolai Tangen seen as likely to be reappointed.

Norway posts ad for CEO of US$1.8 tril sovereign wealth fund

The International Monetary Fund on Friday raised its forecast for global growth in 2025 by one-tenth of a percentage point, with stronger-than-expected growth in the US offsetting downward revisions in Germany, France and other major economies.

IMF lifts US outlook, warns countries against protectionism, subsidies

Wall Street's main indexes rose on Friday, with the S&amp;P 500 and the Dow on track to log their biggest weekly gains since November, as investors anticipate a wave of policy changes under the incoming Trump administration.

Donald Trump’s team may have been batting around the idea of a gradual ratcheting up of import tariffs on much of the world, but bankers who finance the companies in his firing line are in a frenzy nonetheless.

As the president-elect’s inauguration looms next week, some European businesses in threatened industries have accelerated borrowing plans to get ahead of any punitive measures.

Trump’s tariff threat sending junk debt market into panic mode

The European Commission said on Friday it was stepping up its investigation into whether Elon Musk's social media network X breached EU rules on content moderation with requests for information and an order for it to retain relevant documents.

EU steps up probe into Musk's X with new demands

The European Union (EU) is debating whether to drop a sensitive trade investigation against China over alleged coercive activity targeting Lithuania, a prospect that’s frustrated officials in Washington, where the incoming Trump team sees it as capitulation to Beijing.

President-elect Donald Trump has vowed to take a tough line on China and the possible EU move would reinforce for his team how the bloc will approach dealing with Beijing, according to people familiar with the matter.

The merger of the Civil Aviation Authority of Malaysia (CAAM) and the Malaysian Aviation Commission (Mavcom) is expected in the second half of this year (2H2025), CAAM chief executive officer Datuk Captain Norazman Mahmud said.

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