<div class=newsTextDataWrapInner>KUALA LUMPUR (May 15): CJ Century Logistics Holdings Bhd has appointed Kim JinMok as its new deputy chief executive director (CEO), succeeding Sung Hyunsup, who has been redesignated to a non-independent and non-executive director of the company. &nbsp;&nbsp; 
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In a bourse filing, CJ Century Logistics said Kim’s appointment as the company’s deputy CEO took effect immediately (Monday, May 15). &nbsp;The 46-year-old man has built his career with CJ Logistics over a period of close to 17 years, from August 2006 to the present.&nbsp; 
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Kim held the position of managing director in CJ Logistics Myanmar from January 2021 to December 2021 and CJ Logistics Indonesia from January 2022 to April 2023, before his appointment as the deputy CEO of the company.&nbsp; 
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Meanwhile, the company announced the resignation of Park Chul Moon as its non-independent and non-executive director. &nbsp; &nbsp;&nbsp; 
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It cited the reason for the resignation of Park&nbsp;as the change of nominee director by CJ Logistics Asia Pte&nbsp;Ltd, a major shareholder of CJ Century Logistics.&nbsp; 
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Shares in CJ Century Logistics closed unchanged at 48 sen on Monday, giving the group a market capitalisation of RM285 million.&nbsp; 
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Over the past year, the logistic company has fallen 21.31% from 61 sen.</div>
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KUALA LUMPUR (May 15): CJ Century Logistics Holdings Bhd has appointed Kim JinMok as its new deputy chief executive director (CEO), succeeding Sung Hyunsup, who has been redesignated to a non-independent and non-executive director of the company.

CJ Century Logistics appoints new deputy CEO

Loss-making timber firm Maxland Bhd (KL:MAXLAND), formerly known as Priceworth International Bhd, is issuing new shares representing 20% of its current share base to two companies, including the private vehicle of its non-executive chairman Datuk Abd Aziz Sheikh Fadzir, to raise funds for its new ventures into bus assembly and the development of district cooling systems for industrial buildings.

Maxland secures RM14.6m via share placement for bus assembly, cooling system ventures

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

IJM, Maybank, Sunway, IOI Corp, YTL, YTL Power, KLK, Batu Kawan, MAHB, TM, Greatech, Leong Hup, Pharmaniaga, Tan Chong, Matrix Concepts, E&O

Electronic reload and bill payment services provider RichTech Digital Bhd has inked an underwriting agreement with KAF Investment Bank in conjunction with its planned initial public offering (IPO) exercise on the ACE Market of Bursa Malaysia.

ACE Market-bound RichTech inks underwriting agreement with KAF Investment Bank

Thyssenkrupp's steel business plans to cut some 40% of its workforce over the coming years, it announced on Monday in the latest painful overhaul of a German industrial giant, with workers promising fierce resistance.

Thyssenkrupp to cut 11,000 jobs at steel division in major corporate shakeup

WCT Bhd recorded a net profit of RM173.22 million for the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net loss of RM13.54 million a year earlier, thanks to the remeasurement of interest in a jointly controlled entity amounting to RM184 million.

Remeasurement gain from JV helps lift WCT's 3Q net profit despite revenue dip

Southern Cable Group Bhd’s (KL:SCGBHD) net profit for the third quarter more than doubled from a year ago on higher sales volume of power cables and improved margins, attributable to better product mix and economies of scale on increased production.

Southern Cable 3Q net profit doubles to record high, declares 0.75 sen dividend

US-based travel companies, from Marriott International to Booking Holdings are trimming their budgets and workforce ahead of next year as falling leisure travel demand from lower-income travellers hits top-line growth.

US-based travel companies plan layoffs ahead of 2025

Sales of new US single-family homes dropped to the lowest level in nearly two years in October, likely as a rise in mortgage rates drove buyers to the sidelines and hurricanes disrupted activity.

US new home sales tumble to two-year low in October

The flood situation in Kelantan has worsened, while conditions in Terengganu are improving and Johor remains unchanged as of 8pm on Tuesday.

In Kelantan, five temporary relief centres (PPS) were opened on Tuesday night in the districts of Jeli and Kuala Krai, bringing the total number of evacuees in the state to 141 from 47 families, up from 80 individuals this morning.

Floods: Kelantan worsens, Terengganu improves, Johor unchanged

Boustead Holdings Bhd has ceased to be a shareholder of Affin Bank Bhd (KL:AFFIN) after selling all the 482.11 million shares it held in the banking group, equivalent to a 20.08% stake.

Boustead exits Affin Bank after selling entire 20% stake

The net profit of YTL Corp Bhd (KL:YTL) fell by more than a third in the first quarter of its financial year, as contributions from its utilities business, represented by its 55.57% stake in YTL Power International Bhd (KL:YTLPOWR) declined.

YTL Corp’s net profit falls 36% in 1Q as YTL Power’s earnings decline

The Ministry of Finance (MOF) announced on Tuesday that it has decided to register MyData Informatica Sdn Bhd and One Future Solutions Sdn Bhd as new credit reporting agencies.

MOF announces MyData Informatica and One Future Solutions as credit reporting agencies

Boustead Holdings Bhd has ceased to be a shareholder of Affin Bank Bhd (KL:AFFIN) after selling all the 482.11 million shares it held in the banking group, equivalent to a 20.08% stake.

Kuala Lumpur Kepong Bhd (KL:KLK) reported a record low net profit for its fourth quarter, dragged by non-cash losses and an inventory write-down related to its investment in UK-listed speciality chemicals company, Synthomer Plc.

The losses and impairment at Synthomer, coupled with lower manufacturing and property development profits, pulled Batu Kawan Bhd (KL:BKAWAN), which owns 47% in KLK, into the red in the same quarter.

Batu Kawan falls into the red as KLK reports record low profit on one-off losses, impairments

Businessman Datuk Eddie Ong Choo Meng, a controlling shareholder in Hextar Global Bhd (KL:HEXTAR), has continued to pare down his stake in the agrochemical and fertiliser trading company.

Eddie Ong continues to trim stake in Hextar Global  

Tan Chong Motor Holdings Bhd (KL:TCHONG) suffered its largest loss in a decade in the July-September quarter due to higher foreign exchange (forex) loss, softer consumer sentiment and a competitive business landscape that hurt its vehicle sales.

Tan Chong posts biggest loss in a decade on lower vehicle sales, higher forex loss

Malayan Cement Bhd (KL:MCEMENT), a unit of conglomerate YTL Corp Bhd (KL:YTL), saw its net profit rise 45% to a record high of RM139.44 million for the first quarter ended Sept 30, 2024 (1QFY2025) against RM96.10 million a year earlier, despite marginal revenue growth.

Malayan Cement kicks off FY2025 with record profit in 1Q

MBSB Bhd (KL:MBSB), the holding company of MBSB Bank Bhd and Malaysian Industrial Development Finance Bhd (MIDF), posted a threefold jump in net profit for the third quarter due to the consolidation of MIDF into the group, following the completion of the merger in October 2023.

MBSB 3Q profit triples on MIDF consolidation 

Sunway Bhd (KL:SUNWAY) posted a net profit of RM376.08 million for the third quarter ended Sept 30, 2024 (3QFY2024), more than doubled than a year ago when it registered RM180.3 million, on stronger operating performance across its core businesses.

Sunway's profit doubles in 3Q, achieves RM4b order book replenishment

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

IOI Corp Bhd (KL:IOICORP) posted a 133.8% year-on-year jump in its first quarter net profit, primarily driven by foreign exchange (forex) translation gains from its US dollar-denominated borrowings following the strengthening of the ringgit against the greenback, and fair value adjustments on its biological assets and derivative financial instruments.

IOI Corp's 1Q profit soars 133.8% on forex gain, fair value adjustments

Malaysia Airports Holdings Bhd’s (MAHB) (KL:AIRPORT) net profit more than doubled in its third quarter from a year earlier fuelled by higher passenger volumes.

Net profit for the three months ended Sept 30, 2024 (3QFY2024) grew to RM210.37 million or 11.74 sen per share, compared with RM94.76 million or 4.82 sen per share in the same period last year, MAHB’s bourse filing showed. &nbsp;

MAHB's 3Q net profit more than doubles on higher passenger volumes

Guan Chong Bhd’s (KL:GCB) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) rose 68.7% to RM57.17 million from RM33.88 million a year earlier, bolstered by the higher price for cocoa products and increased sales volume for cocoa solids.

Guan Chong 3Q profit soars on higher cocoa prices and strong sales

Property developer Matrix Concepts Holdings Bhd (KL:MATRIX) has proposed a bonus issue of 625.67 million shares on the basis of one new share for every two shares held.

Matrix Concepts proposes one-for-two bonus issue

Telekom Malaysia Bhd’s (KL:TM) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) fell 13.6% year-on-year (y-o-y) to RM465.04 million from RM538.19 million, following last year's recognition of tax credit from prior years’ losses.

TM's 3Q net profit drops 14% on higher tax expenses

Malaysia Airlines is offering discounts of up to 15% for flights across all routes via its website or mobile app, starting from now until Dec 2.

The discounts, under its latest global campaign 'MH Online Specials', apply to flights that will fly from now until Oct 31, it said in a statement.&nbsp;

Malaysia Airlines offers up to 15% off flight tickets on its website, mobile app

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EVENING 5: Five things you need to know today

Cahya Mata Sarawak Bhd’s (CMS) (KL:CMSB) posted a net loss of RM9.22 million for the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net profit of RM9.99 million a year earlier, mainly due to a foreign exchange loss.

Cahya Mata Sarawak records net loss in 3Q on forex impact

Greatech Technology Bhd (KL:GREATEC) announced on Tuesday that its third quarter net profit has halved on foreign exchange losses.

Greatech's 3Q profit halves as forex loss weighs

Prime Minister Datuk Seri Anwar Ibrahim’s three-day working visit to South Korea, which ended on Tuesday, has generated potential investments worth RM32.8 billion for Malaysia.