<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 25): Ecoscience International Bhd, which debuted on Bursa Malaysia's ACE Market last month, has bagged a RM24.04 million contract for the construction of a palm oil refinery complex in Sulawesi, Indonesia. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The palm oil refinery complex will consist a 300-tonne-per-day (tpd) physical refining plant, 300-tpd dry fractionation plant and bottling plant for Palopo Industrial Park at Sulawesi.</p></div>

<div class=newsTextDataWrapInner><p>The Johor-based palm oil milling services provider said in a Bursa’s filing that its wholly owned subsidiary Ecoscience Manufacturing &amp; Engineering Sdn Bhd has accepted a letter of award issued by PT Wijaya Inti Nusantara Sawit (PWINS) for the design, supply and fabricate works for the construction of the palm oil refinery complex.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Ecoscience said commencement of the works shall be subject to the receipt of down payment from PWINS, which will be notified by PWINS in writing at a later stage.</p></div>

<div class=newsTextDataWrapInner><p>The group expects this contract to contribute positively to its earnings and net assets.</p></div>

<div class=newsTextDataWrapInner><p>At Friday (Aug 25)’s closing bell, Ecoscience closed 1.5 sen or 3.57% higher to 43.5 sen — up 45% from its initial offering price of 30 sen — giving the group a market capitalisation of RM148 million.</p></div>


Ecoscience International Bhd, which debuted on Bursa Malaysia's ACE Market last month, has bagged a RM24.04 million contract for the construction of a palm oil refinery complex in Sulawesi, Indonesia.

Ecoscience International bags RM24 mil contract to build palm oil refinery complex in Indonesia

The Digital Ministry will discuss with the Malaysian Communications and Multimedia Commission (MCMC) to push for a new policy on 5G private network rollout in a move to encourage more adoption of 5G technology by industries.

Digital Ministry to push for new policy on 5G private network rollout — Gobind

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

The government has decided to once again extend the freeze on foreign worker applications, according to Home Minister Datuk Seri Saifuddin Nasution Ismail.

Govt extends freeze on foreign worker applications, no new quota

Saudia Group, owner of the Saudia airline and budget carrier flyadeal, has signed a deal with Airbus for 105 confirmed aircraft, a senior executive announced in Riyadh on Monday.

The first planes are due for delivery in the first quarter of 2026, Ibrahim Alomar, director general of Saudia Group told the Future Aviation Forum in the Saudi capital.

Saudia Group agrees deal with Airbus for 105 aircraft

Every stakeholder in the rural development ecosystem needs to ensure that every ongoing programme or development project is completed as best as possible, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi said.

Rural development stakeholders need to ensure completion of each project — Ahmad Zahid

Copper surged to record highs on Monday as a recent rally triggered by short position covering created momentum for speculators and funds to bet on higher prices of the metal, used in the power and construction industries.

Short positions can be producers hedging their output, but often they are bets on lower prices made by traders and funds.

Speculative frenzy propels copper to records above US$11,000/MT

Kuala Lumpur Kepong Bhd (KL:KLK), Malaysia’s third-largest palm oil producer by acreage, said on Monday its net profit fell 39% in the second quarter as the same quarter in the previous year was partly inflated by disposal gains.

Kuala Lumpur Kepong net profit falls 39% in 2Q

The Rubber Industry Smallholders Development Authority (Risda) is urging landowners to participate in its group replanting programme (TSB) to boost the country’s rubber productivity.

Risda urges landowners to join TSB group replanting programme

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

Kremlin has been seizing assets of some Western companies in Russia through decrees signed by President Vladimir Putin and court orders related to lawsuits over halted projects or blocked funds amid Western sanctions.

Below is a list of the companies affected so far.

Moscow takes control over assets of Western companies

<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>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>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>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 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>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>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>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>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>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>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>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 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>


MAHB's passenger traffic hit 11 million in April, 7.6% higher month-on-month

<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>
