<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 28): Malaysian Pacific Industries Bhd (MPI) net profit plunged 89.9% to RM8.14 million or 4.09 sen per share in the fourth quarter ended June 30, 2023 from RM80.49 million or 40.47 sen per share a year ago due to weak end-market electronics demand, elevated inventories and higher energy costs.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Revenue fell 21% to RM482.43 million from RM612.04 million.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>In a filing to Bursa Malaysia, the company said although revenue was flat compared with the preceding quarter, the global semiconductor revenue for different end-markets fluctuated from quarter to quarter.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group recorded a pre-tax profit of RM16.7 million compared with pre-tax loss of RM3.4 million in the preceding quarter due to better cost managemet and favourable US dollar against ringgit.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>For the full year ended June 30, its net profit declined 81% to RM61.33 million from RM328.85 million.</p></div>

<div class=newsTextDataWrapInner><p>Revenue fell by 15% to RM2.04 billion from RM2.4 billion a year ago.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>MPI shares closed 42 sen or 1.6% lower at RM26.30, valuing the company at RM5.5 billion.<br />
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Malaysian Pacific Industries Bhd (MPI) net profit plunged 89.9% to RM8.14 million or 4.09 sen per share in the fourth quarter ended June 30, 2023 from RM80.49 million or 40.47 sen per share a year ago due to weak end-market electronics demand, elevated inventories and higher energy costs.

MPI earnings plunges 90% in 4Q on weak demand, high inventory and energy costs 

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The benchmark S&P 500 and the Nasdaq extended recent gains on Tuesday, as technology stocks rebounded, while investors parsed Donald Trump's tariff pledges on top trade partners and awaited minutes from the Federal Reserve's latest meeting.

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Manchester United on Tuesday reported a smaller adjusted net loss for the first quarter of 2025, helped by cost cuts and benefits from favourable exchange rates.

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<p>Penang Development Corporation (PDC) has rejected an RM818 million bid by a tripartite consortium led by IJM Corporation Bhd (KL:IJM) to develop the Batu Kawan Industrial Park 2 in Penang, <em>Free Malaysia Today</em> (<em>FMT</em>) reported.</p>


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<p>The Public Accounts Committee (PAC) has found that Mara Incorporated Sdn Bhd (Mara Inc) purchased&nbsp;overvalued properties in London and Australia&nbsp;in&nbsp;2013 and 2014.</p>


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<p>PLAGUED by an oversupply glut, Lotte Chemical Titan Holding Bhd (LC Titan) (KL:LCTITAN) is facing its toughest challenge since relisting on Bursa Malaysia in July 2017. Analysts are of the view that “noting much can be done for the time being, except to wait for polymer prices to rebound”.</p>
...

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<p>Shares of MBM Resources Bhd (KL:MBMR) broke another new record high on Tuesday, as the company declared a special dividend following better-than-expected results.</p>


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<p>Malaysia's national electricity utility Tenaga Nasional Bhd (KL:TENAGA) is owed more than RM1 billion in arrears from over 600,000 accounts at the end of September which have been disconnected.</p>


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<p>Youth and Sports Minister Hannah Yeoh Tseow Suan disagreed with the notion that her autobiography titled&nbsp;<i>Becoming Hannah: A Personal Journey</i>&nbsp;had caused uneasiness among Muslims, as the book had been read by Muslims and non-Muslims alike, and added that the Home Ministry had not banned her book.</p>


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<p>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.</p>


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<p>Pharmaniaga Bhd (KL:PHARMA) on Tuesday reported that it has turned around in the third quarter thanks to higher sales and the reversal of penalty charges from the government.</p>


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<p>Huawei Technologies Co will from next year strip its smartphones and tablets of Google’s open-source Android and move devices to homegrown software, broadcasting its ambitions to pivot away from US technology.</p>


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<p>China's electric vehicle giant BYD said it will launch a new generation of blade batteries in 2025, Chinese state media <em>CGTN</em> reported on Saturday.</p>


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<p>Eastern &amp; Oriental Bhd (KL:E&amp;O) on Tuesday declared a special dividend, even as the property developer’s net profit only edged up slightly in the second financial quarter from a year earlier.</p>


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<p>Malaysia's digital economy is poised to reach US$31 billion (RM138.4 billion) in gross merchandise value (GMV) in 2024, an increase of 16% from 2023.</p>

<p>According to the latest e-Conomy Southeast Asia (SEA) 2024 by Google, Temasek and Bain &amp; Company, the country's digital economy has progressed towards profitability while maintaining double-digit growth for GMV.</p>


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<p>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.</p>

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<p>SDS Group Bhd (KL:SDS), a Johor-based manufacturer and retailer of bakery products, is on a roll with its financial performance.</p>

<p>Buoyed by a steady expansion of its retail outlets and wholesale distribution network, the homegrown confectionary specialist’s net profit has grown steadily ...