In today’s edition of Evening 5 — Supermax Corp saw a major management reshuffle as co-founder Datuk Seri Stanley Thai’s nephew Tan Chee Keong was named as new CEO. Meanwhile, Apollo Foods, whose wafers were the staple of every Malaysian childhood, is set to come under new management. </div><div class=inPageAd id=div-gpt-ad-inpage>

EVENING 5: Shake-up at Supermax, founders’ nephew named CEO

Dialog Group Bhd's (KL:DIALOG) net profit in the first quarter ended Sept 30, 2024 (1QFY2025) grew 14.2% to RM150.97 million, from RM132.17 million a year ago, despite lower revenue.

Dialog's 1QFY2025 net profit grows 14%, driven by midstream tank storage business and big drop in opex

Oil slipped on Tuesday pressured by the restart of production at Norway's Johan Sverdrup oilfield, although investor caution arising from fears of an escalation in the Russia-Ukraine war limited the decline.

Oil slips on Sverdrup field restart, geopolitical fears support

Cape EMS Bhd (KL:CEB) booked its first quarterly loss since its listing in March 2023, with a net loss of RM18.95 million in the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net profit of RM15.21 million in the same quarter last year.

Cape EMS posts first quarterly loss since listing amid margin pressure

Indonesia will discuss reviving its tax amnesty programme next year as President Prabowo Subianto’s government seeks ways to boost state revenue amid growing public pushback over a planned value-added tax (VAT) hike.

Indonesia may revive tax amnesty amid pressure to delay VAT hike

Malaysia will witness a projected 87,000 deaths from 2020 to 2030 if there is no intervention to combat antimicrobial resistance (AMR), said Health Minister Datuk Seri Dr Dzulkefly Ahmad.

He said the figure is equivalent to 0.26% of the country's estimated population of 33 million, based on a World Health Organization (WHO) report through a study conducted by the Western Pacific Regional Office (WPRO).

Malaysia to face 87,000 deaths due to antimicrobial resistance by 2030 without intervention — Dzulkefly

Dutch Lady Milk Industries Bhd (KL:DLADY) reported a marginal 2.5% increase in its third quarter net profit to RM17.22 million from RM16.79 million a year ago, despite a drop in revenue, thanks to lower tax expenses following a positive correction on costs that were initially disallowed for tax deduction.

Dutch Lady posts higher 3Q net profit on lower tax expenses but operating profit drops 16.5%

EVENING 5: RM5b risk flagged amid LTAT-Boustead restructuring halt

Sarawak requires RM7.84 billion to redevelop all dilapidated health clinics throughout the state, said Sarawak Deputy Premier Datuk Amar Dr Sim Kui Hian.

RM7.84 bil needed for redevelopment of dilapidated health clinics in Sarawak — Dr Sim

Melaka-based property developer Teladan Group Bhd's (KL:TELADAN) revenue expanded 17.7% to RM80.67 million — the highest since it was listed in March 2021 — for the financial quarter ended Sept 30 (3QFY2024) from RM68.56 million in the same quarter a year ago.

Teladan books record revenue in 3QFY2024; quarterly profit nearly flat

Sime Darby Property Bhd (KL:SIMEPROP) is integrating the solar-powered landed homes at its Elmina Ridge development in City of Elmina, Shah Alam, with the battery energy storage system (BESS).

Sime Darby Property integrates solar-powered Elmina Ridge landed homes with battery energy storage system

Apple Inc has increased its offer to invest in Indonesia by almost tenfold, according to people familiar with the matter, in the US tech giant’s latest bid to persuade the government to lift its sales ban on the iPhone 16.

Apple offers US$100m to undo Indonesia iPhone 16 ban

THE share price of Johor-based dairy product specialist Farm Fresh Bhd (KL:FFB) plummeted to a low of RM1.06 in July last year — a sharp drop of 21% from its March 2022 initial public offering (IPO) price of RM1.35.

At the time, investor sentiment was shaken by reports of supply constra...

Farm Fresh hits record high — will the stock keep climbing?

Newly confirmed High Court judge Leong Wai Hong has recused himself from hearing 1Malaysia Development Bhd (1MDB) and 10 other companies' US$346 million (RM1.63 billion) suit against Datin Seri Rosmah Mansor and Singaporean Shabnam Naraindas Daswani.

Rosmah succeeds in recusing judge from hearing 1MDB suit against her and Singaporean

(Nov 19):&nbsp;Marina Bay Sands is seeking a loan of around S$12 billion (US$9 billion, or RM40.24 billion), in what would be the largest financing from Singapore, as the company looks to fund the planned expansion of its casino resort in the city state.&nbsp;

Marina Bay Sands eyes Singapore’s largest loan of US$9b — Bloomberg

KUALA LUMPUR (Nov 19): The widow of Tun Daim Zainuddin on Tuesday insisted that the criminal charge against him go for a full trial, confident that he will be exonerated.

Daim’s widow wants trial against her husband to proceed to clear his name

The transformation of the Armed Forces Fund Board (LTAT) must begin immediately as a prolonged suspension of the pension fund's activities risks liquidation of its assets, according to a report by the Public Accounts Committee.

Parliament watchdog flags RM5b risk amid LTAT-Boustead restructuring halt, calls for immediate action

LAST Monday, Datasonic Group Bhd (KL:DSONIC) announced that it had bought 51% equity interest in Innov8tif Holdings Sdn Bhd for RM40 million in cash from Revenue Group Bhd (KL:REVENUE).

Innov8tif Holdings and its subsidiaries Innov8tif Solutions Sdn Bhd, Xendity Sdn Bhd and Innov8tif So...

The tale of Innov8tif and five public-listed companies

SINGAPORE (Nov 18): Genting Singapore’s licence to operate a casino here has been renewed for two years with effect from next February.

Genting Singapore receives two-year extension of its casino licence

Malaysia has raised its December export tax for crude palm oil to 10% from 8% and increased its reference price, a circular on the Malaysian Palm Oil Board website showed on Tuesday.

Malaysia raises December crude palm oil export duty to 10%

Emerging Asian stock markets rallied on Tuesday, with Bangkok and Manila trading higher on expectations of rate cuts in the near future, while Singapore stocks hit a 17-year high.

EM stocks rally; Manila, Bangkok up on rate-cut bets

KUALA LUMPUR (Nov 19): Home Minister Datuk Seri Saifuddin Nasution Ismail said on Tuesday that all immigration counters and automatic gate systems (autogates) at the Kuala Lumpur International Airport (KLIA), as well as at Bangunan Sultan Iskandar’s customs, immigration and quarantine (CIQ) complex in Johor Bahru, must remain open during peak hours to ease congestion.

All immigration counters, autogates at KLIA and Bangunan Sultan Iskandar to stay open during peak hours — home minister

Donald Trump's social media company is in advanced talks to buy crypto trading firm Bakkt, the Financial Times reported on Monday, citing two people with knowledge of the talks.

Trump's social media group in talks to buy Bakkt — FT

PUTRAJAYA (Nov 19): Imprisoned former prime minister Datuk Seri Najib Razak’s appeal of his RM1.9 million malfeasance in public office suit against former attorney general (AG) Tan Sri Tommy Thomas has been vacated yet again.

Another COA judge recuses herself, Najib’s appeal in suit against Tommy Thomas postponed

Malaysia’s poultry players may see an expansion in their profit margins thanks to declining feed expenses and other input costs that will help soften the blow from the ringgit's depreciation, an analyst said.

Poultry sector may see profit margins expand on lower feed costs — MIDF

Two of the world’s biggest foreign holders of US government debt offloaded a pile of treasuries in the third quarter as they rallied before the presidential election.

Japan and China dump US treasuries before Trump’s victory

CelcomDigi Bhd’s (KL:CDB) short-term outlook may be subdued following an underwhelming third-quarter, though analysts are cautiously betting that earnings will accelerate in 2025.

CelcomDigi's short-term outlook tepid after underwhelming 3Q as analysts bet on 2025

Malaysia’s initial public offering (IPO) market continued to outperform its Southeast Asian peers so far this year, leading in terms of IPO count, funds raised and market capitalisation, according to Deloitte's latest report.

Malaysia's IPO market remains in the lead in Southeast Asia, with highest listings, funds raised, market cap — Deloitte

Hibiscus Petroleum Bhd’s (KL:HIBISCS) net profit fell 51% year-on-year (y-o-y) in its first financial quarter ended Sept 30, 2024 (1QFY2025), dragged down by planned shutdowns at four of its assets, lower oil and gas prices and the strengthening ringgit versus the US dollar in the quarter under review.

Lower selling price, volume, strong ringgit drag Hibiscus Petroleum's 1Q profit down by half

The Malaysian automotive sector could see sustained growth in 4Q2024 on high order backlogs and promotional activities, analysts said after a month-on-month (m-o-m) rebound in October sales.

Backlog to support 4Q auto sales, say analysts after October m-o-m rebound

The Ministry of Health (MOH) will no longer award pharmaceutical procurement contracts to just one company, in order to ensure a secure and stable supply of medication in the country.