<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 27): Unisem (M) Bhd's net profit for the financial year ended Dec 31, 2023 (FY2023) fell 79% to RM80.24 million or 4.97 sen per share, from RM385.36 million or 23.89 sen per share a year earlier, due mainly to lower sales volumes in line with softer market demand.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing on Tuesday, the semiconductor assembly and test services provider said revenue for the year dropped to RM1.44 billion, from RM1.78 billion a year ago.</p></div>

<div class=newsTextDataWrapInner><p>Unisem declared a dividend of two sen per share to be paid on April 5, taking the full-year dividend payout to eight sen per share.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>For the fourth quarter ended Dec 31, 2023 (4QFY2023), net profit fell 57.6% to RM28.44 million from RM67.08 million a year earlier, on the back of revenue of RM350.79 million versus RM453.65 million previously.</p></div>

<div class=newsTextDataWrapInner><p>Reviewing its performance, Unisem said it expects demand for the group’s products and services to be soft in 1QFY2024, but expects its performance to be satisfactory for the rest of the financial year.</p></div>

<div class=newsTextDataWrapInner><p>At the midday break on Tuesday, Unisem had dipped 1.81% or six sen to RM3.26, with 170,700 shares done.</p></div>


Unisem (M) Bhd's net profit for the financial year ended Dec 31, 2023 (FY2023) fell 79% to RM80.24 million or 4.97 sen per share, from RM385.36 million or 23.89 sen per share a year earlier, due mainly to lower sales volumes in line with softer market demand.

Unisem's FY2023 net profit down 79% to RM80m, declares two sen dividend

The main US stock indexes rose on Thursday as weekly jobless claims data offered fresh evidence of a softening US labor market and renewed hopes that the Federal Reserve will cut interest rates this year.

Wall St climbs after jobless claims data spurs rate-cut bets

KUALA LUMPUR (May 9): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Salcon Bhd (KL:SALCON) said Envitech Sdn Bhd, a 60%-owned subsidiary of Salcon Engineering Bhd, has been awarded a job by Rantau Urusan (M)...

Salcon, Supermax, MAHB, Pentamaster, Solarvest, Scientex, Globetronics, Mr DIY, MCE, Kerjaya Prospek, MAA, KNM and Annum

Israeli tanks and warplanes bombarded areas of Rafah on Thursday, Palestinian residents said, after President Joe Biden said the United States would withhold weapons from Israel if its forces mount a major invasion of the southern Gaza city.

A senior Israeli official said that the latest round of indirect negotiations in Cairo to halt hostilities had ended and Israel would proceed with its operation in Rafah and other parts of the Gaza Strip as planned.

Israel strikes eastern Rafah as ceasefire talks end with no deal

Britain's FTSE 100 hit a record high for a fourth straight session on Thursday after the Bank of England held interest rates but indicated that more policymakers are warming up to a cut in borrowing costs soon.

The blue-chip index ended the session 0.3% higher, after rising as far as 8,396.25 points earlier in the day, while the mid-cap FTSE 250 added 0.2% to a 15-month high.

London's FTSE 100 hits record for fourth session after BoE signals rate cuts

The Selangor government on Thursday launched the Selangor State Structure Plan 2035 (Amendment) draft, a planning document aimed at complementing the First Selangor Plan 2021-2025 in managing the state's physical development.

Selangor govt launches State Structure Plan 2035 draft for public feedback

The graph of people's support for Pakatan Harapan (PH) candidate shows an encouraging uptrend from the results of the face-to-face campaign conducted by the party machinery ahead of the last days of the Kuala Kubu Baharu state by-election campaign.

KKB by-electon: Graph of voter support for PH candidate rising, encouraging — Amirudin

Main-Market listed Warisan TC Holdings Bhd (KL:WARISAN) has lodged a 30-year medium-term notes (MTN) programme worth RM500 million with the Securities Commission of Malaysia (SC).

The move is to raise funds for its capital expenditure, working capital requirements, projects, investments and asset acquisitions, as well as repayment of borrowings, the group told Bursa Malaysia.

Warisan TC lodges 30-year, RM500m medium term notes programme

Annum Bhd (KL:ANNUM), formerly known as Cymao Holdings Bhd, says it is going to hire a new audit firm to conduct a special audit on its revenue, after its external auditor Messrs SBY Partners PLT said it cannot verify the figures Annum reported despite performing additional audit procedures.

Annum, which is involved in the manufacturing of wood-based products, just hired SBY in March this year after approaching 31 other auditors who turned down the job. Most had cited resource constraints, according to the group.

Annum plans special audit after newly hired auditor declines to vouch for its financials

Bank Negara Malaysia (BNM) has been working to pilot a fast-track pre-approval framework for corporates who bring back foreign currency funds and convert to ringgit, to enable them to re-invest abroad when the time comes, according to deputy governor Adnan Zaylani.

BNM aims to pre-approve oversea reinvestments to encourage repatriation of foreign proceeds

Farm Price Holdings Bhd, which will be listed on the ACE Market next Tuesday (May 14), announced net profit of RM2.67 million on revenue of RM30.71 million for the first quarter ended March 31, 2024 (1QFY2024).

Vegetable wholesaler Farm Price posts RM2.67 mil net profit in 1QFY2024 ahead of listing

<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>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>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>Glove manufacturer Supermax Corp Bhd <span style="color:rgb(34,34,34);font-family:Arial,Helvetica,sans-serif;font-size:small">(KL:SUPERMX</span>) is acquiring the remaining 33% equity interest in its 67%-owned subsidiary Supermax Healthcare Canada Inc (SHCI) for C$5.5 million (RM18.96 million) cash.</p>

<p>Supermax is acquiring the stake from Sylvain Bergeron, who has been a business partner of the company since 2004 when Supermax's founder and managing director Datuk Seri Stanley Thai Kim Sim partnered with Bergeron to start the Canadian branch of Supermax.</p>


Supermax acquires remaining stake in 67%-owned loss-making Canadian unit for RM18.96 mil cash

<p>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.</p>

<p>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.</p>


Creador’s Brahmal emerges as substantial shareholder of MCE Holdings

<p>Malaysia has launched the commercial trading of Renewable Energy Certificates (RECs) through the Malaysian Green Attribute Trading System (mGATS) to be operated by Tenaga Nasional Bhd (KL:TENAGA).</p>

<p>The commercial trading of the certificates through mGATS commenced on May 8, the Ministry of Energy Transition and Water Transformation (Petra) said in a statement. Tenaga will ensure that the certificates are internationally certified by reputable registries, such as the I-TRACK Foundation, it noted.</p>


Malaysia kicks off Renewable Energy Certificates commercial trading

<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>Malaysia Airports Holdings Bhd (KL:AIRPORT) on Thursday named former Malaysian Aviation Commission (Mavcom) executive chairman Dr Nungsari Ahmad Radhi as its director effective immediately.</p>


Former aviation regulator chairman Nungsari joins Malaysia Airports’ board

<p>NEW DELHI (May 9): Malaysia's former health minister Khairy Jamaluddin Abu Bakar has been named a member of India-based Fischer Medical Ventures Ltd's board.</p>

<p>The company, formerly known as Fischer Chemic Ltd, announced his appointment as additional director in the capacity of independen...

Khairy Jamaluddin named member of India-based company's board

<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>


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

<p>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.</p>


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

<p>Manufacturers have called for government support to address talent drain by allowing skilled foreign workers to be brought in while locals are trained.</p>

<p>Relying solely on local training would not be enough, said Christina Tee Kim Chin, president of the Malaysian International Chamber of Commerce and Industry (MICCI). The industry could not wait for enough talents to be trained, requiring state intervention to import and upskill talents, she noted.</p>


Manufacturers asks for govt support to boost talent pool

<p>Salcon Bhd (KL:SALCON) said Envitech Sdn Bhd, a 60%-owned subsidiary of Salcon Engineering Bhd, has been awarded a job by Rantau Urusan (M) Sdn Bhd for the design and construction of a sewerage treatment plant in Durian Sebatang, Hilir Perak, Perak.</p>


Salcon unit clinches RM9.7m sewerage treatment plant job

<p>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.</p>


SRC management did not comply with board’s instruction to repatriate RM3.6b KWAP loan

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>Property developer Kerjaya Prospek Property Bhd (KL:KPPROP) will jointly develop a piece of freehold land in Aspen Vision City, Batu Kawan, Penang into a mixed development that will include a hotel and serviced apartments.</p>


Kerjaya Prospek Property to jointly develop Penang plot with Aspen group

<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.</p>


FBM KLCI down 0.22% to 1,601.22 on Thursday

<p>Semiconductor services firm Pentamaster Corporation Bhd [KL:PENTA] reported an 8.92% year-on-year (y-o-y) decline in its net profit for the first quarter of 2024 (1QFY2024) as slightly higher revenue was impacted by lower other income and share of loss of associates.</p>


Pentamaster’s 1Q earnings fell 8.9% amid lower contributions from automated test equipment

<p>The number of Americans filing new claims for unemployment benefits rose last week to the highest level in more than eight months, further evidence that the labour market was cooling.</p>


US weekly jobless claims highest in more than eight months

<p>The continued uncertainties over China's economic growth prospects and the recent geopolitical crisis have increased US dollar demand as a safe-haven asset, said Bank Negara Malaysia (BNM) deputy governor Adnan Zaylani Mohamad Zahid.</p>

<p>“Much has been made of the performance of the ringgit against the US dollar. Unfortunately, many see and use this as an indicator or barometer of how we are doing.</p>
