<div class=newsTextDataWrapInner>KUALA LUMPUR (Jan 5): Dayang Enterprise Holdings Bhd’s unit, Dayang Enterprise Sdn Bhd (DESB) has received a contract extension for the Provision of Pan Malaysia Maintenance, Construction and Modification (PM-MCM) from Abu Dhabi-based firm, Mubadala Energy.</div>

<div class=newsTextDataWrapInner>In a Bursa Malaysia filing on Friday, the oil and gas services company said that the value of the contract extension is based on work orders issued by Mubadala Energy throughout the contract extension duration.</div>

<div class=newsTextDataWrapInner>It added that the contract extension duration is approximately one year five months and 15 days commencing from July 17, 2023 till Dec 31, 2024.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Shares in Dayang finished three sen or 1.79% lower at RM1.65, giving it a market capitalisation of RM1.91 billion.</div>

Dayang Enterprise Holdings Bhd’s unit, Dayang Enterprise Sdn Bhd (DESB) has received a contract extension for the Provision of Pan Malaysia Maintenance, Construction and Modification (PM-MCM) from Abu Dhabi-based firm, Mubadala Energy.

Mubadala Energy extends Dayang unit's contract by one year

Ping An Insurance Group Co is weighing options that would allow it to reduce its 8% stake in HSBC Holdings plc, according to people familiar with the matter. 

One option an internal team at the Chinese insurance giant is considering is further share sales, similar to the US$50 million (RM234.15 million) sale it disclosed last week, as it seeks to reduce its US$13.3 billion position in Europe’s largest lender, the people said, declining to be identified as the deliberations are private.

Top HSBC shareholder Ping An exploring ways to cut US$13b stake, Bloomberg reports

SEOUL (May 17): North Korea fired a ballistic missile towards the sea off its east coast, South Korea's military said on Friday.

North Korea fires ballistic missile, South Korea's military says

China's factory output topped forecasts in April, helped by improving external demand, although retail sales unexpectedly slowed and the property sector remained a drag on the economy, piling pressure on Beijing to do more to support growth.

China's factories fire up but consumer slump persists

JERUSALEM (May 17): Israeli Finance Minister Bezalel Smotrich on Thursday (May 16) said that Israel would abolish its free trade agreement with Türkiye and also impose a 100% tariff on other imports from Türkiye, in retaliation for Turkish President Tayyip Erdogan’s decision to halt exports to Israel.

Israel to abolish free trade deal with Türkiye in retaliation

ITMAX System Bhd (KL:ITMAX) said on Friday that it has secured a RM105.3 million variation order (VO) from Kuala Lumpur City Hall (DBKL) for an extension of its contract to provide closed-circuit television (CCTV) and video messaging signages (VMS) integrated transport information system (ITIS) services.

ITMAX secures RM105.3 mil contract extension from DBKL

Swedish police have detained several people and cordoned off an area in Stockholm after a patrol heard suspected gunshots, they said on Friday, with the Israeli embassy located in the closed-off area.

Suspected gunshots near Israeli embassy in Stockholm prompt police cordon

(May 17): Passengers will see little respite from soaring air fares, as carriers face a shortage of planes, labour and spare parts that will prevent them from meeting booming travel demand.

Airfares can only keep rising due to supply chain problems, ING says

Selangor opposition leader Datuk Seri Mohamed Azmin Ali said on Friday that there was no denial from Agriculture and Food Security Minister Datuk Seri Mohamad Sabu (Mat Sabu) or businessman Deepak Jaikishan regarding their trip to India, or Deepak’s involvement in procuring a direct negotiation contract with the government for his brother’s company, namely J&E Advance Tech Sdn Bhd, to import eggs into Malaysia.

Azmin: Mat Sabu and Deepak did not deny my comments on their trip to India

While the Lao chairmanship of the Association of Southeast Asian Nations (Asean) is still in its early stages, planning is already beginning in Kuala Lumpur for when Malaysia takes over the reins of Asean at the end of this year.

MySay: Malaysia is gearing up to propel Asean forward through enhanced relations with Europe

(May 17): Suriname’s discovered oil resources now total more than 2.4 billion barrels of crude and liquids, and the nation has more than 12.5 trillion cubic feet of gas, according to Wood Mackenzie.

Petronas-discovered Suriname oil resources seen totalling 2.4 billion barrels

Malaysia’s economic growth accelerated faster than expected in the first three months of 2024, thanks to higher household spending, stronger investment activities, improvement in labour market conditions, and higher exports and tourist arrivals.

Malaysia's 1Q GDP beats consensus estimates, grows 4.2% y-o-y

Two policemen were killed and another was injured in an attack on the Ulu Tiram Police Station early on Friday morning.

State police chief Commissioner M Kumar confirmed the incident, stating that it occurred at 2.45am and involved a masked intruder armed with pistols and a machete.

Two policeman killed in attack at Ulu Tiram police station

The male suspect who was shot dead in the attack at the Ulu Tiram Police Station here earlier on Friday is believed to be a member of Jemaah Islamiyah.

Suspect in Ulu Tiram police station attack believed to be member of Jemaah Islamiyah, says IGP

KUALA LUMPUR (May 17): Shares of S P Setia Bhd (KL:SPSETIA) soared to their highest in nearly six years on Friday, as analysts continue to advise investors to buy the stock, even as its stock price has nearly doubled so far this year.

S P Setia soars to near six-year high as analysts bet on extended rally

Hong Leong Investment Bank (HLIB) Research said the anticipated rebound in construction activities, particularly in railway projects, is expected to generate more contract opportunities for companies like Econpile Holdings Bhd (KL:ECONBHD).

Econpile to ride on construction upcycle, says HLIB 

BWYS Group Bhd has signed an agreement with M&amp;A Securities Sdn Bhd to underwrite the sheet metal products manufacturer and scaffoldings supplier's upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.

BWYS Group signs underwriting agreement with M&A Securities for ACE Market IPO

Shares of Hup Seng Industries Bhd (KL:HUPSENG) climbed to their highest in nearly three years after the biscuit maker reported that its net profit surged 45% year-on-year in the first quarter.

Hup Seng shares climb to near three-year high after 1Q profit surge

KUALA LUMPUR (May 17): Shares of Hong Leong Industries Bhd (KL:HLIND), or HLI, climbed to near their record high on Friday, after the motorcycle assembler reported a 51% year-on-year jump in net profit for the three months ended March 31, 2024.

Hong Leong Industries’ shares retest all-time high after profit jump

The International Monetary Fund (IMF) criticised the Biden administration’s decision to aggressively raise tariffs on some Chinese goods, underscoring its warning that tensions between the world’s top two economies risk hurting global trade and growth.

IMF knocks Biden’s China tariffs as risk to US, world growth

Asian stocks inched lower on Friday as traders pondered the near term US monetary policy path after Federal Reserve (Fed) officials suggested that interest rates may need to stay higher for longer even as inflation shows early signs of easing.

Asian stocks ease on uncertainty over timing of US rate cuts

KUALA LUMPUR (May 17): Shares of Malaysian Pacific Industries Bhd (KL:MPI) climbed to their highest in 15 months, as analysts flagged stronger quarters ahead following the semiconductor company’s return to the black.

Malaysian Pacific Industries climbs to 15-month high on return to profit

Rakuten Trade said Poh Kong Holdings Bhd (KL:POHKONG) is back on the radar after it pushed out from the pennant pattern with a long white candle on Thursday.

Poh Kong back on the radar, says Rakuten Trade 

KUALA LUMPUR (May 17): Sarawak Cable Bhd (KL:SCABLE) said that the memorandum of agreement (MOA) between the company and Serendib Capital Ltd (Serendib) had been validly terminated.

Sarawak Cable says has found alternative white knight to Serendib

A suitable list of names for the position of the Election Commission (EC) chairman should be submitted to the Special Parliamentary Select Committee on Human Rights, Elections, and Institutional Reform for vetting before being proposed to the Yang di-Pertuan Agong (YDPA) for consideration as per Article 114 of the Federal Constitution.

List of EC chairman candidates must be vetted before being submitted to Agong

Shut out of US markets and under fire in Europe, China’s electric carmakers are zeroing in on the countries where they’re welcome. One of the big ones is Brazil.

Chinese EV giants hammered by Biden tariff are welcome in Brazil

The Dow reached an intra-day high of 40,000 for the first time on Thursday, but it ended lower after paring earlier gains, as investor hopes of interest-rate cuts by the Federal Reserve (Fed) were buoyed by data showing inflation slowdown, as well as strong corporate earnings results.

Dow hits milestone 40,000 mark as rate-cut hopes fuel rally

Kedah Menteri Besar Datuk Seri Muhammad&nbsp;Sanusi&nbsp;Md&nbsp;Nor's sedition trial will proceed in the High Court here in July.

This follows deputy public prosecutor (DPP) Datuk Masri Mohd Daud informing judge Datuk Aslam Zainuddin that the Perikatan Nasional election director’s representation letter has been rejected.

Kedah MB Sanusi's representation bid fails, sedition trial to proceed in July

Noland Arbaugh still doesn’t quite know what happened. He doesn’t know many of the key details about how his life took such a drastic and now extraordinary turn. How he became Noland Arbaugh, celebrity cyborg.

Neuralink’s first patient: ‘It blows my mind so much’

The Ministry of Transport (MOT) fully supports Khazanah Nasional Bhd and the Employee Provident Fund’s (EPF) move to privatise Malaysia Airports Holdings Bhd (KL:AIRPORT), or MAHB, as it will enable the implementation of strategic decisions more expediently, according to its minister Anthony Loke Siew Fook.

MOT supports MAHB privatisation, to enable expedient strategic decisions — Loke

Wireless carrier Maxis Bhd (KL:MAXIS) said on Friday its net profit rose 10% year-on-year (y-o-y) in the first quarter, thanks to higher service revenue and cost control.