<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 12): Building construction services provider Siab Holdings Bhd has secured a contract to build a food processing factory in Seremban, Negeri Sembilan, worth RM94.28 million.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing, Siab said the group’s wholly owned Siab (M) Sdn Bhd had accepted a letter of award awarded by Mahsuri Food Sdn Bhd to build a four-storey factory block, one fermentation area, and one soy silage building unit with utility facilities.</p></div>

<div class=newsTextDataWrapInner><p>The construction, which will begin on Feb&nbsp;14 this year, is expected to&nbsp;be completed in 13 months.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Mahsuri Food is involved in the manufacturing of food products, and the export and import of sauces and condiments.</p></div>

<div class=newsTextDataWrapInner><p>Siab’s share price slipped half a sen or 3.85% to close at 12.5 sen on Friday, giving the group a market capitalisation of RM74 million.</p></div>

<div class=newsTextDataWrapInner><p>Compared to its initial public offering price of 30 sen in February 2022, the stock has fallen 58%.</p></div>


Building construction services provider Siab Holdings Bhd has secured a contract to build a food processing factory in Seremban, Negeri Sembilan, worth RM94.28 million.

Siab secures RM94m job to build food processing factory in Seremban

Bank Negara Malaysia (BNM) did not surprise the market by keeping the overnight policy rate (OPR) at 3%.

Economists, in general, do not see any valid reason for BNM to either raise or cut the benchmark interest rate for the rest of 2024 despite contrasting regional monetary policy moves thus far.

No reason for BNM to move OPR either way till year-end, economists argue

PUTRAJAYA (May 9): The Ministry of Transport (MOT) has instructed Prasarana Malaysia Bhd to conduct a comprehensive study involving areas at risk of incidents of trees falling along its railway tracks.

Loke: Prasarana told to conduct study on rail tracks at risk of tree incidents

In today’s edition of Evening 5: 0:06 BNM keeps overnight policy rate unchanged as widely expected1:21 Mr DIY 1Q net profit rises 13% on sales from new stores, higher margins2:44 Daim and family fail to reinstate legal challenge against MACC probe4:00 Man on the run for 15 years nabbed, charged with abetting securities fraud5:18 Globetronics reports 73% jump in 1Q profit on forex gain, higher interest income

EVENING 5: BNM stands pat on OPR

Republican presidential candidate Donald Trump vowed to reverse dozens of the Biden administration's environmental rules and policies at a meeting with top US oil executives, where he also asked them to raise US$1 billion (RM4.74 billion) for his presidential campaign, the Washington Post reported on Thursday.

Trump vows to target EVs, LNG exports in meeting with oil CEOs — report

The number of Americans filing new claims for unemployment benefits increased more than expected last week as the labour market steadily eases.

US weekly jobless claims increase more than expected

MCE Holdings Bhd said Brahmal Vasudevan has emerged as a substantial shareholder with a 5.02% indirect stake in the automotive parts and accessories manufacturer.

Brahmal held 6.2 million shares in MCE via Creador Conscienta Ltd, who raised its stake beyond 5% following the acquisition of 100,000 shares earlier on Thursday.

Creador’s Brahmal emerges as substantial shareholder of MCE Holdings

The Federal Court on Thursday agreed to hear the merits of the appeal filed by the National Feedlot Corporation Sdn Bhd (NFCorp) and four others, including its chairman Datuk Seri Mohamad Salleh Ismail, for damages against Public Bank Bhd (KL:PBBANK).

At the same time, the apex court also granted leave to Public Bank's cross-appeal, to challenge the outcome of the Court of Appeal’s decision that had overturned the High Court’s decision to grant RM10,000 in damages to NFCorp and others, and RM500,000 in costs to be paid by the bank.

Apex court allows merits of both NFCorp and Public Bank appeals to be heard in account info leak case

KUALA LUMPUR (May 9): The management of SRC International Sdn Bhd (SRC), specifically the company’s former chief executive officer Nik Faisal Ariff Kamil, had not complied with the directions of the board to repatriate RM3.6 billion which it had transferred to an overseas bank for a purported investment, the High Court was told here on Thursday.

SRC management had not complied with the board’s instructions to repatriate RM3.6b KWAP loan

Home improvement products retailer Mr DIY Group (M) Bhd (KL:MRDIY) said on Thursday its net profit rose 13% in the first quarter from a year earlier thanks to sales from new stores, while margins expanded as supply chain disruption and freight costs eased.

Mr DIY 1Q net profit rises 13% on sales from new stores, higher margins; pays one sen dividend

Outsourced semiconductor assembly and testing (OSAT) player Globetronics Technology Bhd’s (KL:GTRONIC) net profit jumped 73.42% year-on-year for its first quarter ended March 31, 2024 (1QFY2024), thanks to a foreign exchange (forex) gain and higher interest income.

Globetronics reports 73% jump in 1Q profit on forex gain, higher interest income 

<p>The property arm of Sunway Bhd (KL:SUNWAY), Sunway Property's newly launched Sunway Velocity 3 residential project has achieved a take-up rate of 60%, with over 400 out of 695 units snapped up during its opening weekend on May 4.</p>


Sunway Velocity 3 residential development 60% taken up at launch 

<p>Shares of VSTECS Bhd (KL:VSTECS) climbed to a new all-time high on Thursday as investors scrambled for a piece of the company that has been appointed the country’s first distributor of Amazon Web Services (AWS).</p>


VSTECS shares hit new record high on Amazon Web Services partnership

<p>Transport Minister Anthony Loke on Thursday said the ship allegedly owned by an Israeli company while using a port in this country has actually changed ownership. It now belongs to another company based in Hong Kong.</p>


Alleged Israeli ship that recently docked in Malaysia has changed hands, Loke clarifies

<p>A total allocation of RM180 billion in the construction sector for government and private sector projects will be up for grabs this year, according to Deputy Works Minister Datuk Seri Ahmad Maslan.</p>


RM180 bil available for construction sector jobs this year — Ahmad Maslan

<p>Shares of Sarawak Cable Bhd (KL:SCABLE) fell to its lowest in five months on Wednesday after the loss-making cable manufacturer's so-called resuscitation exercise has been terminated.</p>


Sarawak Cable shares fall to five-month low after losing its white knight

<p>Malaysia’s central bank on Thursday left the benchmark interest rate unchanged as widely expected, citing improving economic activity amid moderate inflation.</p>


BNM keeps overnight policy rate unchanged as widely expected

<p>MEMBERS’ ability to decide not to transfer existing Employees Provident Fund (EPF) savings into the newly created Flexible Account 3 for anytime withdrawals is seen as the saving grace to what critics deem as a short-sighted compromise that will prove to have longer-term consequences.</p>

<p>I...

Cover Story: Who pays for anytime EPF withdrawals?

<p>Shares of Kerjaya Prospek Group Bhd (KL:KERJAYA) surged to a new record high on Thursday, as investors bet on better earnings growth for its upcoming financial results for the first quarter ended March 31, 2024 (1QFY2024).</p>


Kerjaya Prospek shares at fresh record high on expectation of better 1Q

<p>KUALA LUMPUR (May 9): The Securities Commission Malaysia has finally managed to charge a man related to a securities fraud involving RM17.6 million in 2007, following his arrest on his return to Malaysia on Wednesday (May 8) after having evaded authorities for 15 years.</p>


Man who evaded the law for 15 years charged with abetment in securities fraud

<p>UOB KayHian has initiated coverage on Lagenda Properties Bhd (KL: LAGENDA) with a “buy” rating at RM1.49 and target price (TP) of RM2.05.</p>


UOB KayHian starts coverage on Lagenda Properties, target price RM2.05

<p>The Federal Court on Thursday agreed to hear the merits of the appeal filed by the National Feedlot Corporation Sdn Bhd (NFCorp) and four others, including its chairman Datuk Seri Mohamad Salleh Ismail, for damages against Public Bank Bhd (KL:PBBANK).</p>

<p>At the same time, the apex court also granted leave to Public Bank's cross-appeal, to challenge the outcome of the Court of Appeal’s decision that had overturned the High Court’s decision to grant RM10,000 in damages to NFCorp and others, and RM500,000 in costs to be paid by the bank.</p>


<p>LBS Bina Group Bhd (KL: LBS) has launched SkyRia, the latest addition to its D'Island Residence project in Puchong.</p>


LBS Bina launches RM457 mil SkyRia residential project in Puchong

<p>Mah Sing Group Bhd (KL:MAHSING), via its unit Star Residence Sdn Bhd, officially launched its latest serviced apartment development named M Zenya in Kepong, Kuala Lumpur on May 9 during the opening ceremony of its sales gallery at Sungai Mas Plaza at Jalan Ipoh.</p>


Mah Sing officially launches M Zenya serviced apartment in Kepong with 92% take-up

<p>Malaysia’s largest telecom company by revenue Axiata Group Bhd (KL:AXIATA) may face earnings pressure from a potential merger of its unit PT XL Axiata with PT Smartfren Telecom in Indonesia, and investors should sell the stock, said MIDF Amanah Investment Bank.</p>


MIDF says Axiata may face earnings pressure ahead, downgrades stock to 'sell'

<p>Former finance minister Tun Daim Zainuddin has failed in his appeal to reinstate his legal challenge against the Malaysian Anti-Corruption Commission (MACC) over its investigation into his and his family’s finances, which had led to the freezing of their various accounts and the seizure of Ilham Tower.</p>


Daim and family fail to reinstate legal challenge against MACC investigations and criminal charges

<p>Solarvest Holdings Bhd (KL:SLVEST) said on Thursday that it has secured a contract worth RM40.4 million to install rooftop solar photovoltaic (PV) systems.</p>


Solarvest bags RM40.4m contract from Scientex to install rooftop solar PV systems

<p>The government must ensure that foreign direct investments (FDI) to develop data centres in Malaysia will benefit local players, according to speakers at the National Economic Forum 2024 here hosted by the National Chamber of Commerce and Industry of Malaysia.</p>


Govt urged to ensure FDI on data centres benefit local players

<p>KUANTAN (May 9): An armoured vehicle plant will be built&nbsp;in the Padang Tengku Industrial Estate (Phase II) to further boost the development of the Lipis district as a defence city, thus stimulating the economic growth of the local population, as well as job opportunities.</p>


Armoured vehicle plant to be built in Lipis — Pahang MB

<p>WhatsApp’s begun working freely and consistently for some users in China despite a longstanding government ban on the messaging service, an unusual phenomenon for a country with some of the world’s strictest internet curbs.</p>


WhatsApp, banned in China, is suddenly working for some users

<p>Home improvement products retailer Mr DIY Group (M) Bhd (KL:MRDIY) said on Thursday its net profit rose 13% in the first quarter from a year earlier thanks to sales from new stores, while margins expanded as supply chain disruption and freight costs eased.</p>
