<div class=newsTextDataWrapInner><p>SINGAPORE (May 10): Semiconductor manufacturer UMS Holdings reported a 55% drop in 1Q earnings to $3.4 million from a year ago.</p></div>

<div class=newsTextDataWrapInner><p>Revenue slipped 26% to $20.4 million, dragged down by lower contribution from its semiconductor business, which accounted for most of its revenue. Other revenue increased from $0.12 million to $0.75 million from shipments of oil and gas industry products.</p></div>

<div class=newsTextDataWrapInner><p>Gross material margin grew by 3% to 60% in 1Q as a result of the stronger greenback against the Singapore dollar.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group expects 2Q activities to stay subdued. Earlier this year, it invested into a Malaysia aerospace manufacturer, which the group sees as its long-term growth strategy.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>UMS shares ended 2.5% higher at 61.5 cents.</p></div>


SINGAPORE (May 10): Semiconductor manufacturer UMS Holdings reported a 55% drop in 1Q earnings to $3.4 million from a year ago.

Revenue slipped 26% to $20.4 million, dragged down by lower contribution from its semiconductor business, which accounted for most of its revenue. Other revenu...

UMS Holdings’ 1Q earnings down by more than half to $3.4 mil

Colform Group Bhd’s upcoming debut on the ACE Market of Bursa Malaysia Securities has received the nod from the capital market operator, the steel and building material specialist based in Kota Kinabalu said.

Sabah-based IBS system maker Colform gets Bursa nod for ACE Market listing

Negri Sembilan Oil Palms Bhd (KL:NSOP), which shares the same major shareholder and management with Chin Teck Plantations Bhd (KL:CHINTEK), has declared a 14 sen dividend payout — comprising a special nine sen and second interim five sen payout — after reporting a 26.6% jump in its third quarter net profit from the previous year, largely on higher revenue.

Negri Sembilan Oil Palms pays 14 sen dividend, including special nine sen payout as 3Q profit jumps

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

TNB, CIMB, Alliance Bank, HLFG, Hong Leong Bank, Axiata, IHH, Sime Darby, Genting, GENM, PPB, Capital A, Berjaya Corp, Supermax, Farm Fresh, Chin Teck, Icon Offshore, Globetronics

High-quality corporate reporting could play a role within the Madani Economy framework, where Malaysia aims to 'raise the ceiling' by expanding the economic pie, fostering broader participation and increasing the complexity of our economy.

High-quality corporate reporting can help country ‘raise ceiling’, says Amir Hamzah

The SA Sentral and Section 13 development plan, set to be implemented over the next seven years starting next year, will cover 58.6 hectares (145 acres) and aims to transform the area into a modern, dynamic, and competitive integrated hub in the country.

PKNS unveils development plan for SA Sentral 

The flood situation in Kelantan, Terengganu, Kedah, and Perlis continues to decline, with the number of victims increasing on Thursday night, while the flooding in Johor was over when the last temporary relief centre was closed this afternoon.

Number of flood victims across four states rises, Johor fully recovers 

Wellcall Holdings Bhd (KL:WELLCAL) declared a special dividend on top of an interim dividend, despite a 56.22% drop in the industrial rubber hose maker’s fourth quarter net profit — mainly due to foreign exchange (forex) losses.

Wellcall's 4Q profit drops 56% on forex loss, pays 2.2 sen dividend

Icon Offshore Bhd (KL:ICON), which has proposed a name change to Lianson Fleet Group Bhd, posted a threefold jump in net profit for the third quarter on higher daily charter rates.

Icon Offshore mulls rename to Lianson Fleet Group, 3Q profit triples on higher daily charter rates

France will sharply reduce subsidies for electric-car purchases in the coming days, with a new scale ranging from €2,000 (RM9,364) to €4,000 based on income, down from the previous range of €4,000 to €7,000, a government source said on Thursday.

France slashes electric car subsidies amid budget crunch

WCE Holdings Bhd’s (KL:WCEHB), the concessionaire of the West Coast Expressway (WCE) project, extended its loss-making streak to six straight quarters with a net loss in the July-September quarter, mainly due to interest expenses related to project financing for the completed sections of the highway.

WCE logs sixth straight quarter in the red, eyes return to profit on highway completion

<p>T Ananda Krishnan, a billionaire tycoon with an empire stretching from telecommunications to oil and gas, passed away on Thursday at the age of 86.</p>


Billionaire tycoon Ananda Krishnan passes away

<p>Genting Malaysia Bhd's (KL:GENM)&nbsp;third-quarter net profit jumped over threefold from the previous year, as it recognised net unrealised foreign exchange (forex) translation gains totalling RM601.8 million on its US-dollar denominated borrowings, as opposed to a forex loss of RM1.7 million previously.&nbsp;</p>


Genting Malaysia's 3Q profit highest in nearly six years on forex gains

<p>Gaming-to-plantation conglomerate Genting Bhd (KL:GENTING) reported a 57% drop in its third-quarter net profit, as it was hit by higher property, plant and equipment (PPE) write-off totalling RM207.3 million, as opposed to RM1.3 million previously.</p>


Genting's 3Q net profit more than halves on higher write-off

<p>Supermax Corp Bhd (KL:SUPERMX) extended its streak of losses to seven quarters, as a surge in&nbsp;operating expenses sank the glovemaker&nbsp;into the red,&nbsp;compounded by currency losses.</p>


Supermax trudges through 1Q as losses pile up, expects better finances next year

<p>Carlo Rino Group Bhd (KL:CRG) is selling its shares at 27 sen apiece in an initial public offering (IPO) that could raise over RM46.4 million, according to its prospectus unveiled on Thursday.</p>


Carlo Rino selling shares at 27 sen apiece for ACE Market listing, IPO may raise RM46.4 mil

<p>The weaker US dollar was a tailwind to Capital A Bhd (KL:CAPITALA) in the third quarter ended Sept 30, 2024 (3QFY2024).</p>

<p>After four consecutive quarters of losses, Capital A posted a record-high net profit of RM1.64 billion for 3QFY2024, as opposed to a net loss of RM102.75 million a year ago, as the group recognises RM2.27 billion in foreign exchange (forex) gains compared with a forex loss of RM93.92 million in the corresponding quarter.</p>


Forex gains of RM2.27 bil lift Capital A earnings to record high in 3QFY2024 

<p>The total cost of the expansion of the Penang International Airport (LTAPP) is estimated at RM1.55 billion, with almost all of it to be financed through a private financing initiative by Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT).</p>


Penang airport expansion estimated at RM1.55b, almost fully funded by MAHB — exco

<p>China's ByteDance is suing a former intern for US$1.1 million (RM4.9 million), alleging he deliberately attacked its artificial intelligence large language model training infrastructure, a case that has drawn widespread attention within China amid a heated AI race.</p>


ByteDance seeking US$1.1m damages from intern in AI breach case, report says

<p>OVER the past few weeks, contracts from Petroliam Nasional Bhd (Petronas) and its production sharing contract partners have been coming in, largely for maintenance, construction and modification (MCM) as well as hook-up commissioning (HUC) services, benefiting a number of local oil and gas (O&amp...

Cover Story: O&G jobs coming in, more expected

<p>Farm Fresh Bhd's (KL:FFB) net profit more than doubled in the second quarter ended Sept&nbsp;30, 2024 (2QFY2025), as contributions from Inside Scoop, Sin Wah and profitable Australian operations were boosted by decreased dairy raw material costs.</p>


Farm Fresh declares dividend of one sen as 2Q earnings double

<p>Tenaga Nasional Bhd (KL:TENAGA) posted an 85% rise in net profit to RM1.58 billion for its third quarter ended Sept 30, 2024 (3QFY2024) thanks to hefty foreign exchange (forex) gains, against RM856.2 million in the same quarter last year, according to the utility giant’s bourse filing on Thursday.</p>


TNB 3Q profit up 85% on RM1.12b forex gain

<p>Berjaya Corp Bhd (KL:BJCORP) kicked off its new financial year with another quarterly loss dragged by its retail and services businesses, but said it is optimistic that some of the units will improve.</p>


Berjaya Corp suffers another quarterly loss, optimistic some segments will improve

<p>The National Kidney Foundation (NKF) has on Thursday managed to quash the Inland Revenue Board’s decision in 2020 to withdraw the tax-exemption status of the charitable organisation.</p>


Court quashes IRB’s withdrawal of tax-exempt status of National Kidney Foundation

<p>Alliance Bank Malaysia Bhd (KL:ABMB) said its second-quarter net profit increased marginally by 2.47% year-on-year (y-o-y), mainly driven by revenue growth which was offset by higher allowances for expected credit losses and operating expenses.</p>


Alliance Bank’s 2Q net profit up 2.5%, pays 9.5 sen dividend

<p>IHH Healthcare Bhd (KL:IHH) said its third quarter core net profit, excluding exceptional items that included adjustments made due to an accounting rule application, jumped 43% from the previous year on higher patient volumes and as its hospitals take on more complex cases.</p>


IHH Healthcare reports 43% jump in core profit on higher patient volumes

<p>ON an evening in June 1995, at an upmarket restaurant in Jalan U Thant, Ampang, Kuala Lumpur, a slightly built, not very tall man walked in with a lady, presumably his wife, and was fawned upon by the owner of the establishment, an ambitious, young woman who seemed to know the older couple.</p>
...

Special Report: Daim’s meteoric rise and his legacy

<p>The bidding for the development of Battery Energy Storage Systems (BESS) for the electricity supply system in Peninsular Malaysia will open Friday, according to the Energy Transition and Water Transformation Ministry (Petra).</p>


Petra: Bidding for battery energy storage system development in peninsula opens tomorrow

<p>The Malaysian Anti-Corruption Commission (MACC) has completed its investigation into the investments made by several government entities in the e-commerce platform FashionValet.</p>


MACC completes probe into FashionValet

<p>In the suburban neighbourhood of SS12 in Subang Jaya, residents’ needs are met by the mini commercial area on Jalan SS12/1B. Each of the 14 two-storey shophouses measures 1,320 sq ft and has a built-up area of 2,300 sq ft. The commercial area is quiet during weekdays and busy on weekends, often l...

Streetscapes: A cosy enclave in SS12, Subang Jaya

<p>Globetronics Technology Bhd (KL:GTRONIC) said it is partnering Canada-headquartered POET Technologies Inc to work together on advanced manufacturing and testing of optical engines, designed for applications such as data centres and telecommunications.</p>
