<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 6): Malaysian Pacific Industries Bhd (MPI) said it will cease its leadframes manufacturing operations under Dynacraft Industries Sdn Bhd&nbsp;by end-January next year.</p></div>

<div class=newsTextDataWrapInner><p>MPI, part of the Hong Leong Group, said the cessation “is made after a careful business strategy review”.</p></div>

<div class=newsTextDataWrapInner><p>The decision “will not have any material impact” on MPI’s earnings for the financial year ending June 30, 2024 (FY2024), it said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The board of directors of MPI is of the opinion that the cessation of DCI (Dynacraft Industries) manufacturing operations is in the best interest of the MPI Group,” it added.</p></div>

<div class=newsTextDataWrapInner><p>Set up in 1974, Dynacraft Industries is “one of the largest manufacturers of leadframes in the region” with a manufacturing facility in Penang, MPI’s annual report showed.</p></div>

<div class=newsTextDataWrapInner><p>Leadframes, a thin layer of metal which forms semiconductor device assembly, are used in a broad range of electronic products, such as computers, automotive components&nbsp;and telecommunications, the report said.</p></div>

<div class=newsTextDataWrapInner><p>Shares of MPI settled&nbsp;28 sen or 1.04% lower at RM26.70 on Wednesday, giving it a market capitalisation of RM5.6 billion.<br />
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KUALA LUMPUR (Dec 6): Malaysian Pacific Industries Bhd (MPI) said it will cease its leadframes manufacturing operations under Dynacraft Industries Sdn Bhd by end-January next year.

MPI ceases leadframe manufacturing after 49 years

Now is an opportune time to accumulate Dayang Enterprise Bhd (KL:DAYANG) shares given its undemanding valuations, said CGS International.

Good opportunity to accumulate Dayang shares — CGS

BERLIN (Nov 21): Mercedes-Benz plans to cut costs by several billion euros per year in the coming years, the Handelsblatt newspaper reported on Thursday, citing a spokesperson for the German carmaker.

According to Handelsblatt, the spokesperson left open exactly how the co...

Mercedes plans to cut costs by several billion euros per year, reports Handelsblatt

Police using all available info to continue tracking down Jho Low — IGP

SD Guthrie (KL:SDG), formerly known as Sime Darby Plantation Bhd, is expected to post flattish net profit growth for the fourth quarter of 2024 (4Q2024), attributed to slower recovery in fresh fruit bunch (FFB) production at its Indonesian estates, said analysts.

Analysts see SD Guthrie recording flattish 4Q profit growth

BERLIN (Nov 22): German auto parts supplier Robert Bosch will reduce the hours, and consequently the pay, of 450 employees in Germany from next spring, citing the difficult economic situation, a company spokesperson said on Thursday.

Those employees, whose contracts stipulated that they...

Bosch to reduce hours for 450 employees due to tough economy

Malaysia is not new to the rare earth industry. Historically, the country has been a significant player, exporting rare earths produced from monazite. However, the industry faced setbacks due to environmental concerns, most notably the closure of Asian Rare Earth due to the high concentration of ...

My Say: Rare earth industry: Challenges, opportunities and the path forward

Brunei LNG said on Friday it is in the process of a safe startup of its liquefied natural gas facility, which is expected to continue until further notice, following an "operational upset" earlier this week.

Brunei LNG initiates startup process after 'operational upset' 

A breach of telecoms companies that the United States said was linked to China was the "worst telecom hack in our nation's history — by far", the chairman of the Senate Intelligence Committee told the Washington Post on Thursday.

Suspected China-linked hack on US telecoms worst in nation's history, senator says

Automotive seat maker Feytech Holdings Bhd (KL:FEYTECH) has failed to buy a piece of land in the Klang Valley, resulting in a delay in the construction of its new corporate office with a manufacturing plant and warehouse.

Feytech delays construction of head office; daily ops remain unaffected

AEON Co (M) Bhd (KL:AEON) is expected to deliver stronger earnings in the last quarter of the year as it is anticipated to see higher sales efficiency during the year-end festive season, according to TA Securities in a note on Friday.

AEON poised for stronger sequential earnings as year-end festive season seen boosting sales — TA Securities

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

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


Petron, DRB-Hicom, Dayang Enterprise, AEON, 7-Eleven, MSM, Hap Seng Consolidated, SunCon, UEM Sunrise, Mega First, Oriental, Heitech Padu, Can-One, Atlan, Maxim, Thong Guan, Globetronics

<p>AirAsia hopes to emulate Dubai’s success in connecting the world, but in a low-cost format from places like Bangkok and Kuala Lumpur as the discount carrier looks to move on from its tumultuous pandemic years.</p>


AirAsia founder plots low-cost Dubai-like hub in Bangkok, KL

<p>KUALA LUMPUR (Nov 22): Globetronics Technology Bhd (KL:GTRONIC) surged as top most-actively-traded stocks on Friday morning, after the company secured a RM145 million contract to provide integrated circuit (IC) product packaging, testing, and backend services to Taiwan-based ChipMOS Technologies Inc. &nbsp;</p>


Globetronics shares surge on RM145m contract win with Taiwan’s ChipMOS

<p>The Inland Revenue Board (LHDN) will continue to enforce compliance through audits and investigations to detect any non-compliance among taxpayers in Malaysia.</p>

<p>LHDN deputy chief executive officer (Compliance) Datuk Hisham Rusli said that all actions are carried out in accordance with the laws set forth.</p>


IRB committed to improving tax compliance via  audits, probes

<p>Magnum Bhd (KL:MAGNUM) reported a slight dip in net profit in the July-Sept period as income tax and other expenses increased, but cushioned by better income generated by its gaming and investment holdings and other segments.</p>


Magnum posts marginally lower net profit in 3Q, amid higher tax and other expenses, declares 1.5 sen dividend

<p>China’s richest man lashed out at two of the country’s biggest tech giants for fanning online vitriol targeting him earlier this year and instigating a price war that wiped out tens of billions of market value for his bottled-water empire.</p>


China’s richest man berates PDD, ByteDance for months of misery

<p>US President-elect Donald Trump said on Thursday he would nominate former Florida attorney general and loyalist Pam Bondi to be US attorney general, moving swiftly to replace his former nominee Matt Gaetz after the embattled former congressman withdrew from consideration.</p>


Trump picks Pam Bondi for US attorney general after Gaetz withdraws

<p>Nvidia Corp assured investors that its new product lineup will continue to fuel an artificial intelligence-driven growth run, while also signaling that the rush to get chips out the door is proving costlier than expected.&nbsp;</p>


Nvidia says new chip remains on track, helping soothe investors

<p>KUALA LUMPUR (Nov 22): TSH Resources Bhd (KL:TSH) reported a 12.19% increase in its net profit for the third quarter spanning July to September 2024 (3QFY2024), despite a drop in revenue, as it recorded reduced non-controlling interests, which resulted in the larger share of profit attributable to the owners of the company.</p>


TSH Resources reports 12% rise in 3Q net profit, pays 2.5 sen dividend

<p>The International Criminal Court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes in the Gaza Strip, adding to pressure on the country’s leadership over the conduct of its military campaign against Hamas.</p>


ICC issues arrest warrant for Israel’s Netanyahu on Gaza ‘war crimes’

<p>Australia’s flagship carrier Qantas Airways Ltd is the top-performing airline stock in Asia over the past year, and is seen as set to extend its climb with help from declining fuel prices.</p>


Qantas tops Asian airline stocks on cheap fuel, rival’s demise

<p>Thailand is taking steps to attract more foreign investment to accelerate economic growth while preparing to adjust its policies to cope with potential changes to world trade under a Trump presidency, Prime Minister Paetongtarn Shinawatra said.</p>


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<p>Stocks ended the day higher as traders contemplated a new US administration keen on deregulation. Bitcoin blew past US$98,000 (RM438,868) while the dollar gained and treasury yields rose.</p>


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<p>TOKYO (Nov 22): Nissan&nbsp;Motor&nbsp;will cut or transfer about 1,000 jobs in Thailand, as it shrinks production in Southeast Asia, part of its recently announced global workforce reduction plan, two sources familiar with the matter told<em> Reuters</em> on Friday.</p>


Nissan to cut or transfer about 1,000 jobs in Thailand — Reuters

<p>Gold was headed for its largest weekly gain in nearly eight months on Friday and the euro hovered at a 13-month low as Russia lowered its threshold for using nuclear weapons and fired a hypersonic ballistic missile at Ukraine.</p>


Gold surges and euro sags as broader war risks rise 

<p>SEC Chair Gary Gensler, whose ambitious agenda drew fierce resistance from Wall Street and the crypto industry, plans to step down on Jan 20.</p>


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<p>The use of money-market fund tokens from the likes of BlackRock Inc&nbsp;and Franklin Templeton as collateral in traditional derivatives trades inched closer to reality on Thursday.</p>


CFTC advisers recommend use of tokenised assets as collateral

<p>KUALA LUMPUR (Nov 22): Damansara REIT Managers Sdn Bhd, the manager of Al-`Aqar Healthcare REIT and Al-Salam REIT, has appointed Zulhilmy Kamaruddin as its new chief executive officer (CEO) as of Thursday (Nov 21).</p>
