<div class=newsTextDataWrapInner>KUALA LUMPUR (Jan 17): Construction crane manufacturer Favelle Favco Bhd (FFB) has secured five contracts,&nbsp;for the supply of cranes to machinery replacements, worth a combined RM79.4 million.</div>

<div class=newsTextDataWrapInner>The contracts, which are expected to be delivered by mid- to end of 2024, were awarded to its subsidiaries Favelle Favco Cranes (M) Sdn Bhd, Favelle Favco Cranes Pty Ltd and Sedia Teguh Sdn Bhd between Nov 30, 2023 and Jan 17, 2024. 
 
The clients are Servizi Energia Italia SpA, Resolution Rigging Services Pty Ltd, E&amp;P O&amp;M Services Sdn Bhd, Petron Malaysia Refining &amp; Marketing Bhd, and Petronas Carigali Sdn Bhd. 
 
“The above contracts are expected to contribute positively to the earnings and net assets of FFB for the financial year ending Dec 31, 2024 and beyond,” FFB told Bursa Malaysia on Wednesday. 
 
In May last year, FFB announced that it had secured three contracts for the supply of tower cranes to G A Caelli Holdings Trust, Aarsleff BIZ Sp. z o.o. and Afcons Infrastructure Ltd for a total of RM84.9 million. 
 
FFB shares slipped one sen or 0.57% to close at RM1.73 on Wednesday, valuing the group at RM406.47 million.</div>

<div class=newsTextDataWrapInner>Read also: 
<a href="https://theedgemalaysia.com/node/666616" target="_blank">Favelle Favco clinches three tower crane contracts worth RM84.9 mil</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>&nbsp;</div>

KUALA LUMPUR (Jan 17): Construction crane manufacturer Favelle Favco Bhd (FFB) has secured five contracts, for the supply of cranes to machinery replacements, worth a combined RM79.4 million.

Favelle Favco bags five contracts worth RM79.4m

Asian shares were subdued on Thursday and the dollar was on the defensive after US data showed progress in slowing inflation had stalled even as the economy remained resilient, raising doubt over the path the Federal Reserve (Fed) could take next year.

Asian stocks subdued, dollar drifts ahead of US Thanksgiving

Technology stocks on Bursa Malaysia declined in early trading on Thursday, mirroring the decline in US technology stocks on Wednesday.

Tech counters decline in early trade on Bursa Malaysia

BENGALURU (Nov 28): BlackRock has a handshake deal to buy private credit group HPS Investment Partners, the Financial Times (FT) reported on Wednesday.

BlackRock has deal to buy private credit manager HPS, FT reports

Shares of Nationgate Holdings Bhd (KL:NATGATE) fell in early trading after its third-quarter results came in below analysts expectations.

Nationgate shares slide in early trade after 3Q results miss expectations

The risk of trade sanctions from the US due to Prime Minister Datuk Seri Anwar Ibrahim's vocal stance in defending the rights of the Palestinian people and state will be among the highlights of Thursday's Dewan Rakyat sitting.

Trade sanction risks due to vocal support for Palestinian rights highlight of Thursday's Dewan Rakyat sitting

South Korea's central bank cut benchmark interest rates for a second straight meeting on Thursday in a surprise move as the economy stalled and inflation slowed more than policymakers predicted.

South Korea makes first back-to-back rate cuts since 2009

Pony AI Inc’s American depositary shares (ADS) erased an early pop to decline 7.7% in their trading debut after raising US$413.4 million (RM1.84 billion) in an initial public offering (IPO) and concurrent private placements, after delaying the pricing by a week.

Driverless tech firm Pony AI’s shares sink 7.7% after US IPO

The US Federal Trade Commission (FTC) has opened a broad antitrust investigation into Microsoft, including of its software licensing and cloud computing businesses, a source familiar with the matter said on Wednesday.

Microsoft faces wide-ranging US antitrust probe — Reuters

MORNING CALL: 28/11/24

The Federal Reserve’s (Fed) preferred measure of underlying inflation accelerated in October from a year ago, helping explain policymakers’ more cautious approach to lowering interest rates.

Fed’s favoured inflation gauge picks up, backs cautious approach

Here is a brief recap of some corporate announcements that made the news on Wednesday.

AMMB, Inari, FGV, PetGas, TIME dotCOM, IJM, Chin Hin, Media Prima, Hengyuan, Kerjaya Prospek, BHIC, Tropicana Corp

China is continuing to buy US soybeans, confounding some traders who had expected the flow of shipments to slow down ahead of a potential trade war between both countries.

A Chinese state buyer picked up at least eight cargoes last week to build national reserves, according to traders familiar with the sales.

China keeps buying US soy in surprise move after Trump’s win

Nationgate Holdings Bhd’s (KL:NATGATE) net profit more than doubled for the third quarter on a record high quarterly topline, boosted by unrealised foreign exchange (forex) gains.

Hefty forex gain keeps Nationgate profitable in 3Q

Shares of Nationgate Holdings Bhd (KL:NATGATE) fell in early trading after its third-quarter results came in below analysts expectations.

Mexican President Claudia Sheinbaum said on Wednesday Mexico would retaliate if US President-elect Donald Trump followed through with his proposed 25% across-the-board tariff, a move her government warned could kill 400,000 US jobs.

Mexico warns Trump tariffs would kill 400,000 US jobs, threatens retaliation

Citaglobal Bhd (KL:CITAGLB) has firmed up its collaboration with electric vehicle maker Tree Technologies Sdn Bhd to develop an industrial park with green elements in Pahang. It also proposed a bonus issue of up to 88.07 million free warrants.&nbsp;

Citaglobal firms up collaboration to develop eco-friendly industrial park, proposes one-for-five bonus warrants

The S&amp;P 500 and the Nasdaq edged lower on Wednesday, weighed by a decline in technology stocks, while investors focused on the Federal Reserve's next move following an in-line inflation reading.

Tech stocks drag on S&P 500, Nasdaq after inflation data

A total of 11 electricity substations have been shut down as of Wednesday night due to the increasingly worrying flood situation around Kota Bharu, Machang and Tanah Merah.

TNB shuts down 11 substations in Kelantan as floods worsen; three district offices shutter in Pasir Mas

Communications Minister Fahmi Fadzil will meet with the management of three news portals on Thursday to address the issue of unpaid salaries for media personnel.

Fahmi says will address salary arrears with news portals on Thursday

A selloff in giant technology companies dragged down stocks, while the latest economic data gave support to the Federal Reserve’s (Fed) cautious stance on rate cuts.

US stocks halt record-breaking rally as tech gets hit

Asian shares were subdued on Thursday and the dollar was on the defensive after US data showed progress in slowing inflation had stalled even as the economy remained resilient, raising doubt over the path the Federal Reserve (Fed) could take next year.

LGMS Bhd, bolstered by the rising demand for cyber security services and solutions, has increased its workforce substantially and plans to more than double its number of skilled professionals by mid-2025.

LGMS looking to double workforce on growing cyber security demand

The Sustainable Energy Development Authority (Seda) is set to offer rebates to industry players that undertake energy efficiency initiatives.

Sustainable Energy Development Authority: Rebates under Save 4.0 programme now extended to industry players

The flood situation in Kelantan and Terengganu has worsened, with the number of evacuees rising, and additional temporary evacuation centres being opened, as of 8pm.

Number of flood evacuees in Kelantan, Terengganu on the up

Selangor has become the first state to launch the Selangor care economy policy as part of its efforts to address the challenges posed by an ageing population.

Selangor unveils care economy policy to address state's ageing population

Technology solutions provider Microlink Solutions Bhd (KL:MICROLN) posted its biggest quarterly net loss of RM85.1 million since its listing on Bursa Malaysia in 2006, no thanks to a software development expenditure write-off and specific provisions made on goodwill upon changes in its business performance.

Microlink posts biggest quarterly loss in 2Q on software development expenditure, goodwill impairment

Icon Offshore Bhd’s (KL:ICON) managing director (MD) Datuk Seri Hadian Hashim has been redesignated as a non-independent non-executive director, effective Wednesday.

Icon Offshore MD Hadian redesignated as non-executive director

The risk of trade sanctions from the US due to Prime Minister Datuk Seri Anwar Ibrahim's vocal stance in defending the rights of the Palestinian people and state will be among the highlights of Thursday's Dewan Rakyat sitting.

Penang’s 5G network coverage in populated areas has reached 91.7%, as of Nov 17, according to State Infrastructure, Transport and Digital Committee chairman Zairil Khir Johari.

Penang's 5G Coverage reaches 91.7%; Penang bridge connectivity enhanced

The Federal Reserve’s (Fed) preferred measure of underlying inflation accelerated in October from a year ago, helping explain policymakers’ more cautious approach to lowering interest rates.