<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 28): Technology company Sedania Innovator Bhd has lauded measures under the government's newly launched Ekonomi Madani to revive the local equity market, including the automatic transfer of ACE Market-listed companies that meet certain criteria to the Main Market of Bursa Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>“We are excited about this new measure, which will be a catalyst to the local equity market, as more quality ACE Market listed counters can now join the ‘big boys’ on the Main Market,” said ACE Market-listed Sedania's founder and managing director Datuk Azrin Mohd Noor in a statement on Friday (July 28).</p></div>

<div class=newsTextDataWrapInner><p>According to Azrin, it aims to transfer to the Main Market in the next two years to elevate its status and attract institutional investors, which are mostly limited to investing in Bursa's market for established companies.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Sedania stands to benefit from the participation of institutional investors, which place importance on environmental, social and governance (ESG)&nbsp;investments by incorporating ESG mandates into their funds,” he added.</p></div>

<div class=newsTextDataWrapInner><p>At Friday's close, Sedania was unchanged at 21.5 sen a share, giving it a market capitalisation of RM74.68 million.</p></div>


Technology company Sedania Innovator Bhd has lauded measures under the government's newly launched Ekonomi Madani to revive the local equity market, including the automatic transfer of ACE Market-listed companies that meet certain criteria to the Main Market of Bursa Malaysia.

Automatic transfer of ACE Market companies to Main Market a catalyst for local bourse, says Sedania

Cboe Global Markets Inc. said it is set to list the first cash-settled index options related to the spot price of Bitcoin, marking the latest addition of cryptocurrency-related securities to traditional exchanges.

Cboe to launch cash-settled Bitcoin ETF options as crypto booms

French defence and technology firm Thales said on Friday it was denying unspecified allegations after Britain's Serious Fraud Office (SFO) announced a joint investigation with French authorities into suspected bribery and corruption.

Thales denies wrongdoing as Anglo-French bribery probe hits shares

As the Association of South East Asian Nations (Asean) chair for 2025, Malaysia has a key role in strengthening the Asean community and tackling complex regional challenges, Foreign Minister Datuk Seri Mohamad Hasan said.

Malaysia to strengthen Asean community, tackle regional challenges as Asean chair 2025 — Mohamad

A weekly round-up of tanker and dry bulk market (Nov 22, 2024)

Baltic Exchange shipping updates: Nov 22, 2024

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

Allianz Malaysia, Bumi Armada, Bintulu Port, D&O, Sarawak Plantation, Favelle Favco, CSC Steel, BM Greentech, SkyWorld, Lagenda Properties, Solarvest, SMI, Icon Offshore, Top Glove, MNRB, Chin Hin Group Property

The S&P 500 and the Dow touched over one-week highs on Friday after data showed a still robust economy, while small-cap stocks outperfomed large-cap indexes.

The S&P flash PMI showed manufacturing activity stood at 48.8 in November, in line with estimates from a Reuters poll of economists.

S&P 500, Dow touch over one-week highs after business activity data

Vizione Holdings Bhd (KL:VIZIONE) said its unit has served a notice to Inspirasi Langkawi Sdn Bhd to terminate its employment as main contractor for the development of a 14-storey hotel in Langkawi, claiming it had not been properly paid for its works so far.

Vizione quits RM116 mil hotel construction job over alleged unpaid works

A measure of US business activity raced to a 31-month high in November, boosted by hopes for lower interest rates and more business-friendly policies from President-elect Donald Trump's administration next year.

US business activity gauge rises to 31-month high in November

Global investment conglomerate Bin Zayed International Group of Companies (BZI) has committed to investing US$2 billion (RM8.93 billion) in Malaysia over the next five years. 

Bin Zayed International (M) Bhd managing director Datuk Seri Dr Shamir Kumar Nandy said as part of its strategic expansion plan, the group would tap into real estate, renewable energy and financial services to attract investments into the country.

Bin Zayed International commits US$2 bil investment in Malaysia over next five years

Property developer SkyWorld Development Bhd (KL:SKYWLD), which made its Main Market debut in July last year, said it is on target to launch developments with an estimated gross development value of RM4.6 billion by 2026, having achieved RM1.1 billion worth of launches so far.

SkyWorld nears deal for Vietnam joint venture on completion of due diligence, says on track for RM4.6b launch target by 2026

<p>Top Glove Corp Bhd (KL:TOPGLOV) has entered into a joint venture (JV) with US glove importer Tronex (Asia) Ltd, and Polywel International Trade Co Ltd for the production and distribution of high-density polyethylene (HDPE) gloves.</p>


Top Glove in JV for high density polyethylene glove biz

<p>Sunway Bhd (KL:SUNWAY) became the best performing constituent member of the FBM KLCI index year to date after its share price breached the RM5 mark on Friday, ahead of its third-quarter (3Q) earnings announcement expected next week. &nbsp;</p>


Sunway is best FBM KLCI constituent YTD after shares shoot past RM5

<p>Malaysia's international reserves rebounded and added about US$400 million (RM1.79 billion) by the middle of November.</p>


Malaysia's foreign exchange reserves rebounded to US$118b in mid-November, BNM data show

<p>Mah Sing Group Bhd's (KL:MAHSING) M Luna condominium development in Kepong has achieved a Qlassic score of 86%, the highest for an M Series project, according to a press statement on Friday.</p>


Mah Sing's M Luna condo in Kepong achieves 86% Qlassic score

<p>Offshore oil-and-gas services firm Bumi Armada Bhd (KL:ARMADA) said on Friday its third quarter net profit rose 19% from a year earlier as operating margins expanded with lower costs.</p>


Bumi Armada's 3Q net profit rises 19%, no update on merger with MISC's offshore unit

<p>Analysts are projecting a stronger showing from Sunway Construction Group Berhad (KL: SUNCON) in 4Q2024, driven by significant job progress, especially data centre (DC)-led projects.</p>


Analysts expect stronger 4Q for Sunway Construction

<p>Solarvest Holdings Bhd (KL:SLVEST)’s wholly owned subsidiary Atlantic Blue Sdn Bhd has been awarded a RM142 million engineering, procurement, construction and commissioning (EPCC) contract from SM01 Sdn Bhd, a special purpose vehicle (SPV) in which the group owns a 33% stake.</p>


Solarvest bags RM142 mil EPCC job for 30MWac solar plant in Kedah

<p>Malaysia’s Anti-Corruption Commission (MACC) said on Friday it will continue to investigate the late Tun Daim Zainuddin, his wife and other family members.</p>


MACC says will continue to investigate late Daim, wife, family members

<p>Vizione Holdings Bhd (KL:VIZIONE) said its unit has served a notice to Inspirasi Langkawi Sdn Bhd to terminate its employment as main contractor for the development of a 14-storey hotel in Langkawi, claiming it had not been properly paid for its works so far.</p>


<p>Buyout firm Affinity Equity Partners is in talks to acquire Malaysian seafood supplier Golden Fresh Sdn Bhd, according to people familiar with the matter.</p>


Affinity is said to be in talks to buy Malaysian seafood supplier Golden Fresh, Bloomberg reports

<p>KUALA LUMPUR (Nov 22): Chin Hin Group Property Bhd (KL:CHGP)&nbsp;has established a RM500 million perpetual notes programme.&nbsp;</p>


Chin Hin Group Property establishes RM500m perpetual notes programme

<p>The largest shareholder of South Malaysia Industries Bhd (KL:SMI) has called for an upcoming extraordinary general meeting (EGM) scheduled for Jan 9, 2025, to appoint six new directors to the company’s board, including former Perak police chief Datuk Pahlawan Mior Faridalathrash Wahid.</p>


SMI's largest shareholder calls for EGM to appoint six new directors including ex-Perak police chief

<p>Sarawak Plantation Bhd (KL:SWKPLT) has announced a second interim dividend of 15 sen per share, as its latest third quarter net profit rose 14.6%, despite lower revenue, thanks largely to a higher fair value gain on its biological assets.</p>


Sarawak Plantation pays bumper 15 sen dividend as 3Q profit hits record

<p>Global investment conglomerate Bin Zayed International Group of Companies (BZI) has committed to investing US$2 billion (RM8.93 billion) in Malaysia over the next five years.&nbsp;</p>

<p>Bin Zayed International (M) Bhd managing director Datuk Seri Dr Shamir Kumar Nandy said as part of its strategic expansion plan, the group would tap into real estate, renewable energy and financial services to attract investments into the country.</p>


<p>Here is a brief recap of some corporate announcements that made the news on Friday.</p>


<p>India will offer up to US$5 billion (RM22.4 billion) in incentives to local electronics companies to make components for gadgets from mobiles to laptops, two government officials said, in a bid to bolster the burgeoning industry and wean off supplies from China.</p>


India to offer up to US$5b in incentives to local electronics firms, wean off China

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<p>KUALA LUMPUR (Nov 22): Asean transport ministers adopted a framework agreement on Friday that allows the region’s airlines to operate flights with stopovers in the member countries.</p>


Loke: Asean approves stopover rights to boost regional air connectivity

<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Friday.</p>


FBM KLCI up 0.07% to 1,589.78 on Nov 22, 2024

<p>The government successfully saved almost RM1 million in the flight cost for the official delegation led by Prime Minister Datuk Seri Anwar Ibrahim to five countries recently, said Communications Minister Fahmi Fadzil.</p>
