<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

Manchester United said on Tuesday that interim CEO Patrick Stewart and CFO Cliff Baty will step down from their positions at the end of the season

Manchester United's interim CEO, CFO to step down

Australia's Qantas Airways said on Wednesday it was investigating issues impacting its frequent flyer application, after media reports suggested there was a data breach allowing users access to other passengers' travel information.

Australia's Qantas probing reports of data breach at loyalty app

Oil prices fell for a third day on Wednesday on rising crude inventories and production in the US, the world's biggest oil consumer, along with increasing hopes of a ceasefire agreement in the Middle East.

Oil falls for a third day as US crude inventories swell

European car giants Volkswagen, Mercedes-Benz and Stellantis all posted lower sales and first-quarter revenue on Tuesday as they geared up to launch new models, faced higher costs and were hit by weaker demand for new cars as interest rates remain high.

Weak demand, new model ramp-up hit Europe's top automakers

Citigroup CEO Jane Fraser told shareholders on Tuesday that US consumers are becoming more cautious with their spending and making smaller purchases.

Citi CEO says US consumers more cautious, emphasises bank overhaul

Elon Musk's abrupt decision to lay off employees who ran Tesla's electric vehicle charging business blindsided automakers gearing up to equip new EVs for customers to use the Tesla Supercharger network, industry officials and analysts said on Tuesday.

Musk disbands Tesla EV charging team, leaving customers in the dark

McDonald's missed quarterly profit estimates for the first time in two years as budget-conscious consumers looked past its offers and the Middle East conflict weighed on the burger chain's international sales.

McDonald's posts rare profit miss as customers turn picky

Treasury Secretary Janet Yellen on Tuesday defended a global corporate tax deal against Republicans' accusations that it would siphon away US revenues and said she was working to carve out an allowance for the US research and development tax credit.

Yellen defends global corporate minimum tax deal amid Republican criticism

Starbucks Corp sales fell for the first time since 2020 as half-off deals and new lavender lattes weren’t enough to entice increasingly budget-conscious consumers.

Starbucks posts first sales drop since 2020 during global pullback

An early investor in bitcoins dubbed the "Bitcoin Jesus" has been arrested in Spain on US charges that he evaded paying at least US$48 million (RM228.9 million) in taxes, the US Department of Justice said on Tuesday.

'Bitcoin Jesus' arrested in Spain on US tax evasion charges

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday (April 30):</p>


Bursa, SimePlant, SEGi, Capital A, Duopharma, Rimbunan Sawit, MKHOP, Tasco, CIMB, Atrium REIT, KSL, GUH, Lebtech, Mentiga, Ge-Shen, Green Packet, Apex Equity

<p>KUALA LUMPUR (May 1): Malaysia’s top six universities have soared in Times Higher Education’s (THE) 2024 Asia University Rankings, compared to last year’s performance.</p>


Malaysian universities rise in Times Higher Education’s 2024 Asia rankings

<p>The proposed sale of Cyberjaya Education Group Bhd's Asia Metropolitan University license and business to Austin Legacy Education Sdn Bhd for RM15 million cash has fallen through.</p>


Cyberjaya Education's RM15 mil sale of Asia Metropolitan University falls through

<p>Green Packet Bhd is undertaking a private placement of 598.48 million shares representing 30% of its issued shares for 3.2 sen apiece or RM19.15 million.</p>


Green Packet undertakes 30% private placement to raise RM19.15 mil at 3.2 sen a share

<p>Duopharma Biotech Bhd has accepted 11 letters of offers from a subsidiary of Pharmaniaga Bhd to supply 86 pharmaceutical and/or non-pharmaceutical products worth RM578.09 million in total, to government offices and facilities that Pharmaniaga operates.</p>


Duopharma secures RM578 mil supply contracts from Pharmaniaga

<p>PUTRAJAYA (April 30): Perlis Menteri Besar Mohd Shukri Ramli on Tuesday testified for almost nine hours at the Malaysian Anti-Corruption Commission (MACC) headquarters here.</p>

<p>The Toyota Noah vehicle carrying him was seen leaving the MACC compound at 6.55pm after appearing to give his sta...

Perlis MB gives statement for almost nine hours in MACC

<p>The Sessions Court here on Tuesday was told that the contract for the ‘Central Spine Road: Sertik to East Coast Highway Intersection’ project worth RM232 million was awarded to Nepturis Sdn Bhd.</p>


Central Spine Road project worth RM232 mil awarded to Nepturis, says witness

<p>Communications Minister Fahmi Fadzil has slammed Bersatu supreme council member Dr Afif Bahardin for making sexist remarks against Pakatan Harapan’s (PH) Kuala Kubu Baharu (KKB) by-election candidate Pang Sock Tao.</p>


KKB by-election: Fahmi tells Afif not to be a sexist

<p>Starbucks Corp sales fell for the first time since 2020 as half-off deals and new lavender lattes weren’t enough to entice increasingly budget-conscious consumers.</p>


<p>McDonald's missed quarterly profit estimates for the first time in two years as budget-conscious consumers looked past its offers and the Middle East conflict weighed on the burger chain's international sales.</p>


<p>Apex Equity Holdings Bhd's external auditor is unconvinced that the group will be able to recover RM23.8 million in loan receivable, though its directors is confident that the sum is recoverable and had made no impairment loss in its financial statements for the year ended Dec 31, 2023.</p>


Apex Equity's auditor unconvinced group can recover RM24m loan

<p>he Malaysian Anti-Corruption Commission (MACC) has detained two high-ranking officers of a water supply company in the state on suspicion of receiving bribes from two contractors.</p>


MACC detains two water supply company officers over alleged bribery

<p>A pair of traders in Hong Kong have left Societe Generale SA (SocGen) after the French bank discovered a batch of risky bets that went undetected by the firm’s risk-management systems, according to people familiar with the matter.</p>


SocGen traders in Asia exit after options bets go undetected

<p>Logistics solutions provider Tasco Bhd saw its net profit for the financial quarter ended March 31, 2024 (4QFY2024) fell 18% year-on-year, attributable to lower profit reported in its air freight forwarding and ocean freight forwarding divisions, as freight rates fell to pre-pandemic levels.</p>


Tasco’s 4Q profit fell 18% amid lower freight rates; declares 2.35 sen dividend

<p>Changpeng Zhao, the former chief executive of Binance, was sentenced on Tuesday to four months in prison after pleading guilty to violating US laws against money laundering at the world's largest cryptocurrency exchange.</p>


Binance crypto founder Zhao sentenced to four months in prison

<p>Malaysia received 5.8 million foreign tourists from January to March this year, which was a growth of 32.5% compared with 4.3 million for the same period last year.</p>

<p>Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing said the top ten tourist-generating markets for Malaysia were Singapore, Indonesia, China, Thailand, Brunei, India, South Korea, Australia, the United Kingdom and the Philippines.</p>


Malaysia received 5.8 mil tourists from January to March this year — Tiong

<p>It was my privilege to have had the opportunity to participate in the Sejahtera Malaysia Forum on April 29, at Le Quadri Hotel, Kuala Lumpur, where the Minister of National Unity Malaysia, Datuk Aaron Ago Dagang, delivered the keynote address alongside distinguished panel speakers such as Dr Kelvin Yii Lee Wuen, MP of Kuching, Faye Lim, founder of The Rojak Projek, and Tan Sri Michael Yeoh, president of the KSI Strategic Institute for the Asia-Pacific. I was struck by the profound depth of our discourse.</p>


Appreciation of history: A pathway to national unity

<p>Fraser &amp; Neave Holdings Bhd (F&amp;N) posted a net profit of RM165.41 million in the second quarter ended March 31, 2024 (2QFY2024), higher by 63.48% compared to RM101.18 million a year before, driven by higher sales amid Chinese New Year and Hari Raya festival seasons and better margins.</p>


Festive sales and better margins lift F&N’s 2Q net profit by 63%

<p>The federal government is always committed to empowering national schools, but parents retain the right to choose the educational stream for their children, said PKR vice-president Nik Nazmi Nik Ahmad.</p>


Parents' right to pick children's educational stream — Nik Nazmi

<p>An early investor in bitcoins dubbed the "Bitcoin Jesus" has been arrested in Spain on US charges that he evaded paying at least US$48 million (RM228.9 million) in taxes, the US Department of Justice said on Tuesday.</p>
