<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

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Monday.</p>


Yinson, Cypark, Astro, DNeX, TCS, Samaiden, Jati Tinggi, Critical Holdings, Kawan Food, Cape EMS, TNB, Plenitude, RHB, AMMB, Hong Leong, AME Elite, Magna Prima

<p>Datuk Seri Wong Sze Chien and Seah Ley Hong have emerged as substantial shareholders of property developer Magna Prima Bhd (KL:MAGNA) through their private vehicle, Edxus Solutions Sdn Bhd.&nbsp;</p>


Magna Prima sees new substantial shareholders

<p>The Malaysian bourse is mulling a plan to improve valuations of local companies as it seeks to lure global investors amid similar programs from regional peers.</p>


Bursa Malaysia eyes value-boosting plans to lure stock traders

<p>The Malaysian government established the windfall profit levy (WPL) to tax what it deemed excessive profits from oil palm growers. This is governed under the enactment of the Windfall Profit Levy (Oil Palm Fruit) Order 2023, which stems from the Windfall Profit Levy Act of 1998, originally introduced in 1999 as response to the Asian Financial Crisis.</p>


Decoding the windfall profit levy conundrum in the palm oil industry 

<p>The Control of Smoking Products for Public Health Act 2024 (Act 852) that was gazetted on Feb 2 will take effect, together with its regulations and orders, on Tuesday.</p>


Control of Smoking Products for Public Health Act 2024 takes effect on Tuesday

<p>Federal Reserve chair Jerome Powell indicated on Monday the US central bank would likely stick with quarter-percentage-point interest rate cuts moving forward and was not "in a hurry" after new data boosted confidence in ongoing economic growth and consumer spending.</p>


US Fed sees no 'hurry' to cut rates as confidence in economy grows, Powell says

<p>Companies and governments across the globe are flooding debt markets with bonds and loans, borrowing money as yields fall and the US presidential election nears.</p>


Borrowers smash global records to sell US$600b in debt

<p>The US National Transportation Safety Board said on Monday more than 40 foreign operators of Boeing 737 airplanes may be using planes with rudder components that could pose safety risks.</p>


US says 40 foreign operators may be using Boeing 737s with suspect rudder control parts

<p>Tesla and its CEO Elon Musk on Monday won the dismissal of a lawsuit accusing them of defrauding shareholders by overstating the effectiveness and safety of the automaker's self-driving technology in order to boost its stock price.</p>


Tesla, Musk beat shareholder lawsuit over self-driving promises

<p>The Royal Malaysian Police (PDRM) have launched an investigation into allegations of forced labour practices by GISB Holdings Sdn Bhd (GISB) towards its employees.</p>


Police probing forced labour by GISH, 24 remanded including top management

<p>The Control of Smoking Products for Public Health Act 2024 (Act 852) that was gazetted on Feb 2 will take effect, together with its regulations and orders on Tuesday.</p>


The control of smoking products for Public Health Act 2024 to take on Tuesday

<p>The US antitrust regulator will allow Chevron Corp to proceed with its US$53 billion (RM219.38 billion) acquisition of Hess Corp on the condition chief executive officer John Hess is barred from the supermajor’s board, alleging he improperly communicated with Opec.</p>


Hess CEO’s Opec communication disqualifies him from Chevron board, says FTC 

<p>Stocks eked out a gain in the final minutes of US trading, even after Federal Reserve chair Jerome Powell signalled he was in no hurry to make further interest-rate cuts.</p>


US stocks rally shakes off ‘tiny bit hawkish’ Powell

<p>As the US and China square off over everything from tech to military might, Ford Motor Co&nbsp;has emerged as the American firm most at risk from its exposure to the world’s No&nbsp;2 economy, according to Strategy Risks, beating the likes of Apple Inc&nbsp;and Tesla Inc.</p>


Ford most at risk from China exposure among 250 American firms

<p>SoftBank Group Corp’s Vision Fund is planning to invest US$500 million (RM2.06 billion) in OpenAI as part of a larger funding round, <em>The Information</em> reported on Monday, citing a person familiar with the deal.</p>


SoftBank to invest US$500m in OpenAI, Information reports

<p>European carmaker&nbsp;Stellantis&nbsp;on Monday joined bigger rival Volkswagen&nbsp;and others in warning about the worsening outlook for auto demand and rising costs, wiping billions of euros off the sector's market value.</p>


European carmakers warn on profits in face of weak demand, rising costs

<p>China’s overseas investment hit a record high as its companies look to build more factories abroad, potentially helping to ease criticism of Beijing’s export policies.</p>

<p>Chinese firms increased their overseas assets by about US$71 billion (RM293.88 billion) in the second quarter, according to revised data from the State Administration of Foreign Exchange (SAFE) on Monday.</p>


China’s investment abroad jumps to record with US$71 bil jump

<p>Opec+ is strategically reducing oil supply and ceding market share with a long-term view so that the producing countries secure enough investments, while oil prices suit both producers and consumers, Russian Deputy Prime Minister Alexander Novak said.</p>


Russia says Opec+ ceding oil market share for long-term stability

<p>Christine Lagarde said the European Central Bank (ECB) is becoming more optimistic that it will be able to get inflation under control, and will reflect on that at its October decision on interest rates.</p>

<p>The president’s comments to lawmakers in the European Parliament in Brussels on Monday amount to the strongest hint yet from her of possible momentum gathering among officials towards a cut.</p>


ECB getting more confident of taming inflation, says Lagarde 

<p>Australian home values rose in September — traditionally a strong month for sales — though the rate of growth remained steady amid increased supply and mounting affordability concerns.</p>

<p>Market bellwether Sydney advanced 0.2%, taking its median price to a fresh high of A$1.19 million (RM3.38 million), property consultancy CoreLogic Inc said on Tuesday.</p>
