<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 7): Fiber optic manufacturer Opcom Holdings Bhd said Baker Tilly Monteiro Heng PLT has resigned as its external auditor due to a disagreement over audit fees.</p></div>

<div class=newsTextDataWrapInner><p>The resignation is with effect from Monday (Aug 7), the group said in a bourse filing, adding it is in the midst of appointing a new auditor.</p></div>

<div class=newsTextDataWrapInner><p>“The resignation is due to a disagreement regarding the fees associated with conducting the audit. This disagreement arises from expanded operations and consequently an increase in audit fees,” said Opcom.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The fiber optic manufacturer said it is not aware of any other matters that need to be brought to the attention of its shareholders.</p></div>

<div class=newsTextDataWrapInner><p>Opcom shares closed unchanged at 74 sen, giving the group a market capitalisation of RM248.18 million.</p></div>

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Fiber optic manufacturer Opcom Holdings Bhd said Baker Tilly Monteiro Heng PLT has resigned as its external auditor due to a disagreement over audit fees.

Opcom’s auditor resigns amid disagreement over audit fees

Asia Digital Engineering (ADE), the engineering arm of Capital A Bhd (KL:CAPITALA) on Monday announced that its Cambodian unit had been granted the Approved Maintenance Organisation (AMO) certification in supporting the aviation ecosystem of Cambodia.

Capital A's aviation engineering arm certified as Approved Maintenance Organisation in Cambodia

A summary of how key Bursa Malaysia indices and the ringgit performed on Monday.

FBM KLCI rises 0.67% to 1,627.50 on May 20, 2024

(May 19): Government debt that has swelled nearly 50% since the early days of the Covid pandemic is generating elevated levels of worry both on Wall Street and in Washington, CNBC reported.

The federal IOU is now at $34.5 trillion, or about $11 trillion higher than where it sto...

Soaring debt and deficits causing worry about threats to the economy and markets - report

Putrajaya is expected to roll out the multi-tier levy mechanism for foreign workers in January next year, according to Human Resources Minister Steven Sim Chee Keong.

Multi-tier levy on foreign workers to be implemented in January 2025, says HR minister

Seri Pajam Development Sdn Bhd held a groundbreaking ceremony for SPD Tech Valley, their first industrial development in Senawang, Negeri Sembilan on Monday. The development has a gross development value of RM3 billion.

Seri Pajam Development breaks ground on SPD Tech Valley in Negeri Sembilan 

Govt extends freeze on foreign worker applications, no new quota — Home Ministry

China’s capital outflows worsened in April, underscoring headwinds for the yuan amid a weak domestic economy and uncertainties over the Federal Reserve’s rate trajectory.

China’s capital outflow in April surges to highest since 2016 

Pertama Digital Bhd (KL:PERTAMA) said it had been allowed to continue operating the digital court bail payment system known as e-Jamin by the government.

Pertama Digital to continue operating e-Jamin with approval of Prime Minister's Department

LONDON (May 20): North Sea oil and gas producers are merging and shifting overseas as Britain's windfall tax slashes profits and as the opposition Labour Party threatens more tax if it wins the next general election.

The change of strategy could accelerate the decline of domestic p...

North Sea energy firms look beyond UK after tax squeeze

The upcoming maiden offering of Malaysian Renewable Energy Certificates (RECs) and carbon credits for auction through the Bursa Carbon Exchange (BCX) will provide opportunities for corporates to demonstrate their climate actions by efficiently allocating capital to support forest conservation and restoration efforts and low-carbon technologies.

Opportunities for corporates to show climate actions via RE certificates on Bursa Carbon Exchange, says Nik Nazmi

<p>Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest banking group by assets, said on Monday its net profit slipped 3.5% for the first quarter ended March 31, 2024 (1QFY2024) from a year earlier, mainly due to higher personnel costs and higher provisions.</p>


Public Bank's 1Q net profit slips 3.5% on higher costs, provisions

<p>Iran's President Ebrahim Raisi was killed in a helicopter crash, an Iranian official and <i>Mehr</i> news agency reported on Monday. Below is a brief outline of what Iran's constitution says happens when a president is incapacitated or dies in office:</p>


What happens in Iran when a president dies in office?

<p>AS more investments continue to pour into the data centre (DC) industry, companies are looking to tap opportunities in either the DC construction, fit-out or testing and commissioning segments.</p>

<p>Notably, the artificial intelligence (AI) boom has spurred demand for digital infrastructure,...

Data centre-linked stocks gain traction on news flow

<p>The High Court has ordered former Mara Corp chief executive officer (CEO) Datuk Badlisyah Abdul Ghani to pay the firm RM3.4 million after finding him guilty for breach of duty during his three-month term with the company, which is the investment and commercial arm of Majlis Amanah Rakyat.</p>


Former Mara Corp CEO ordered to pay RM3.4m to company for breach of duty

<p>The time it’s taking for some of China’s electric-car makers to pay suppliers is ballooning — a further sign of stress in the nation’s increasingly cutthroat auto market.</p>


China’s EV makers taking longer to pay bills amid rising stress

<p>Bursa Malaysia said on Monday it is introducing Trading Reminders, a new tool that highlights unusual trading activity in addition to queries issued over spikes in prices and volumes.</p>


Bursa introduces Trading Reminder flag on top of unusual market activity queries

<p>Electronics manufacturing services firm Notion VTec Bhd (KL:NOTION) charted a new three-year high on Monday, as Bursa Malaysia’s Technology Index touched a new one-year high following the US’ plan to hike tariffs on semiconductors from China.</p>


Notion VTec charts new three-year high amid rally in tech stocks

<p>Shares in gold-related counters surged on Monday, following the precious metal notching a fresh all-time high, as investor demand soared across the broader metals complex, amid increasing optimism the US will cut interest rates this year.</p>


Poh Kong leads rally in gold-linked stocks as metal hits fresh record

<p>RHB Investment Bank Research has maintained its 'buy'&nbsp;rating for&nbsp;Gamuda Bhd (KL:GAMUDA) at RM5.58, with a higher target price of RM6.55 (from RM6.30), and said it is upbeat on the prospects Ho Chi Minh City (HCMC) has for Gamuda’s property arm.</p>


RHB IB upbeat on Gamuda’s prospects in Ho Chi Minh City, raises target price to RM6.55

<p>Gold prices hit an all-time high on Monday, as a slowing US inflation trend boosted expectations the Federal Reserve could deliver its first interest rate cut soon, while silver scaled a more than 11-year peak.</p>

<p>Spot gold rose 1% to US$2,438.44 per ounce, as of 0811 GMT, after hitting a record high of US$2,449.89 earlier in the session. US gold futures GCcv1 rose 1.1% to US$2,442.60.</p>


Gold hits record peak as rate-cut bets burnish appeal, silver jumps

<p>Maxis Bhd’s (KL:MAXIS) intention to build a second fifth-generation (5G) network could potentially put the group’s financial position and future earnings under pressure, according to analysts.</p>


Maxis' financial position could face pressure from proposed second 5G network, say analysts

<p>Foreign buying of Malaysian equities was sustained for the fourth consecutive week with a total of RM873.9 million last week, leading to a year-to-date net inflow of RM4.9 million.</p>

<p>In its fund flow report on Monday, the MIDF Research team said the sustained interest in the domestic market may have stemmed from economic optimism, as recent data revealed a 4.2% year-on-year rise in gross domestic product in the first quarter of 2024.</p>


Foreign buying of M'sian equities sustained for fourth week with RM874m inflow, says MIDF

<p>theedgemalaysia.com&nbsp;<wbr />highlighted one stock with positive momentum and 16 stocks with negative momentum at Bursa Malaysia's afternoon close on Monday. &nbsp;</p>


Cahya Mata Sarawak, Willowglen, Oceancash, Excel Force, Manulife, MBSB, MFM, Panasonic, ELK-Desa, Puncak Niaga, BIG Industries, Astral Asia, Niche Capital Emas, Hextar Retail, Arka, AHB, Dataprep

<p>Malaysia is expected to see a "potential upswing" in external demand, particularly from China, while also benefitting from the imposition of US tariffs on Chinese goods, including electric vehicles (EVs) and their components, said TA Securities.</p>


Malaysia to benefit from China demand, US tariffs on Chinese EVs — TA Securities

<p>Bumiputera-mandated agencies under the Ministry of Economy will move away from giving out ‘free money’ or grants, to focus on providing financial leverage and assistance for business expansion, its minister Rafizi Ramli said on Monday.</p>


Bumiputera agencies to move away from giving out 'free money', says Rafizi

<p>KUALA LUMPUR (May 20): Phillip Capital has maintained its “buy” rating on Kerjaya Prospek Group Bhd at RM1.80 with a higher target price (TP) of RM2 (from RM1.93) and said it expects Kerjaya’s 1Q2024 net profit to come in stronger year-on-year, but flat quarter-on-quarter.</p>

<p>In a note on ...

Phillip Capital raises target price for Kerjaya Prospek to RM2, sees stronger y-o-y net profit growth in 1Q2024

<p>A senior banker from Maybank Investment Bank Bhd, Kevin Davies, is said to be moving to smaller-sized rival RHB Investment Bank Bhd to take on the CEO role, according to at least three industry sources.</p>

<p>“The move is subject to regulatory approvals,” one of the sources tells The Edge.</p...

Maybank senior banker Kevin Davies said to be headed to RHB

<p>Taiwan President Lai Ching-te asked China on Monday to stop its military and political threats, saying in his inauguration speech that peace is the only choice and that Beijing had to respect the choice of the Taiwanese people.</p>

<p>Lai, addressing the crowd outside the Japanese-colonial-era presidential office in central Taipei, repeated a call for talks with China, which views the proudly democratic island as its own territory and has never renounced the use of force to bring it under Beijing's control.</p>


New Taiwanese president calls on China to stop its threats

<p>Malaysia’s exports rebounded at a slower-than-expected 9.1% in April from a year earlier, as a surge in shipments of machineries, chemicals and palm oil offset a decline in deliveries of petroleum products and subdued electronics demand, official data Monday showed.</p>


Malaysia's exports rebound slower than expected in April, official data shows

<p>Malaysia Airports Holdings Bhd’s (KL:AIRPORT) traffic expanded by 7.6% to 11 million passengers in April 2024, compared with the preceding month's 10.2 million passengers.</p>
