<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 21): Telecommunication support services provider Binasat Communications Bhd has bagged an RM58.26 million contract to supply and install cable systems from Tenaga Nasional Bhd (TNB).</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing on Thursday, Binasat said the contract is for the double-circuit underground cable from Pencawang Masuk Utama (PMU or substation) Titiwangsa to PMU Genting Kelang, and from PMU Genting Kelang to PMU Kampung Lanjut.</p></div>

<div class=newsTextDataWrapInner><p>Binasat said its 51%-owned subsidiary Borderless Connection Sdn Bhd (BCSB) had received and accepted the letter of acceptance from TNB for the job, which is expected to take about 910 days or nearly two and half years to complete.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Binasat’s share price closed unchanged at 25.5 sen on Thursday, giving the group a market capitalisation of RM99 million.&nbsp;</p></div>


Telecommunication support services provider Binasat Communications Bhd has bagged an RM58.26 million contract to supply and install cable systems from Tenaga Nasional Bhd (TNB).

Binasat unit clinches RM58.26 mil cable systems contract from TNB

Melinda French Gates is stepping down as co-chair of the Bill and Melinda Gates Foundation, one of the world's biggest private charitable foundations that she co-founded with her former spouse more than 20 years ago, she said on Monday.

Melinda Gates to step down as co-chair of Gates Foundation

Treasury Secretary Janet Yellen said she hopes China won’t mount major retaliation against any steps Washington takes to safeguard investments in critical new industries, while emphasising the US cannot allow these emerging sectors to be “wiped out” by Chinese competition.

Yellen hopes China doesn’t mount ‘significant’ trade retaliation

Prime Minister Datuk Seri Anwar Ibrahim’s discussion with two prominent Qatar government leaders on Monday was rooted primarily on the Palestine-Israel conflict and touched on the current development in Gaza.

Malaysia, Qatar hold in-depth talks on Palestine-Israel conflict

YNH Property Bhd’s (KL: YNHPROP) proposed sale of a 5.098-acre freehold land in Desa Sri Hartamas to Sunway Bhd (KL:SUNWAY) for RM170 million has been extended for a fifth time, stretching the deadline by another year to May 12, 2025, as more conditions are being added to the deal following the discovery of a registered caveat lodged over the property.

YNH extends deadline for RM170 mil land sale to Sunway by a year after caveat found

Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

PTT Synergy, Sime Darby Property, Telekom Malaysia, Aurelius Technologies, AME Elite, Mulpha International, Uzma, Dialog, GuocoLand, Swift Haulage, PA Resources

Estithmar Holding and Baladna are among Qatar's largest companies by market capitalisation that attended a roundtable meeting hosted by Malaysia’s Ministry of Investment, Trade and Industry (Miti).

Qatar 'big guns' of industries attend roundtable meeting with PM 

A police patrol car escorting Melaka Chief Minister Datuk Seri Ab Rauf Yusof's convoy was among 10 vehicles damaged by trees which fell in various parts of the city during a heavy downpour on Monday.

Melaka CM's escort car among 10 vehicles hit by falling trees in KL

Life and general insurance provider Allianz Malaysia Bhd (KL:ALLIANZ) has declared a first interim dividend of 26.5 sen per share for the financial year ending Dec 31, 2024 (FY2024).

Allianz Malaysia declares interim dividend of 26.5 sen

Police arrested another man on Sunday on suspicion of being involved in the petrol bomb attack at an entertainment centre here on Thursday (May 9) morning.

KL cops nab one more over petrol bomb attack

KUALA LUMPUR (May 13): Shares of Sungei Bagan Rubber Co (Malaya) Bhd (KL:SBAGAN) and its related companies extended their gains on Monday, as investors continued to bid up the stocks on news of buyout of Singapore’s Great Eastern Holdings Ltd.

Sungei Bagan Rubber, related companies extend rally to near two-decade high

<p>IOI Properties Group Bhd (KL:IOIPG) has announced the resignation of its chief financial officer Melissa Tan Swee Peng effective from June 3, after having served the company for about two years.&nbsp;</p>


IOI Properties' finance chief resigns to pursue other interests

<p>Malaysia Airports Holdings Bhd (KL:AIRPORT) has announced the appointment of Dr Nungsari Ahmad Radhi as its chairman effective from Monday, replacing Tan Sri Zainun Ali, who will take on the role of a director.</p>


MAHB appoints Nungsari as chairman, Zainun redesignated as director

<p>Petroliam Sarawak Bhd (Petros) will commence assuming Petroliam Nasional Bhd's (Petronas) role in all natural gas trading activities in Sarawak, effective July 1, said State Utility and Telecommunication Minister Datuk Seri Julaihi Narawi.</p>

<p>The minister said that the transition period for Petros to take over will be until January 2025.</p>


Petros to assume control of Sarawak's natural gas trading activities effective July 1

<p>GuocoLand (Malaysia) Bhd (KL:GUOCO) — controlled by tycoon Tan Sri Quek Leng Chan — saw its net profit tumble 66.3% for the third quarter ended March 31, 2024 (3QFY2024), due to lower revenue from its property development division.&nbsp;</p>

<p>Nonetheless, this was partially offset by a better performance of the hospitality division, thanks to higher occupancy and better average room rates.</p>


GuocoLand’s 3Q net profit falls 66%, warns about property oversupply

<p>Golden Screen Cinemas (GSC), which is operated by Malaysian conglomerate PPB Group Bhd (KL:PPB), said on Monday it will launch a new outlet in the KL East Mall here, and close its outlet in the Central Square shopping centre in Sungai Petani, Kedah.</p>


GSC to launch GSC KL East next week, to close GSC Central Square Sungai Petani by early June

<p>A local egg-importer company that is suing Datuk Seri Mohamed Azmin Ali for defamation has stressed that there were no tenders or direct negotiation&nbsp;in getting the contract to import eggs as a temporary measure to plug a domestic shortage.</p>


Deepak’s brother: Due process followed when getting egg contract in defamation suit against Azmin

<p>If financial markets are right, interest rates won't just stay high this year, but possibly forever.</p>


The case for forever high interest rates

<p>KUALA LUMPUR (May 13): Oil-and-gas services firm Dialog Group Bhd (KL:DIALOG) said on Monday that its third-quarter net profit rose 19% from a year earlier, thanks to higher upstream output.</p>


Dialog Group’s 3Q earnings rise 19% on higher upstream output, declares 1.5 sen dividend

<p>PUTRAJAYA (May 13): The Immigration Department&nbsp;and Home Ministry&nbsp;are exploring the implementation&nbsp;of a quick response (QR) code system&nbsp;at several main entry points of the country, to address congestion issues.</p>


Immigration Dept, Home Ministry exploring QR code system at country’s entry points

<p>Integrated construction and property firm PTT Synergy Group Bhd (KL:PTT) has secured two contracts worth a total of RM169.85 million from Sime Darby Property Bhd (KL:SIMEPROP).</p>


PTT Synergy secures two earthworks contracts from Sime Darby Property worth RM169.85 mil

<p>PA Resources Bhd's (KL:PA) net profit for the third financial quarter ended March 31, 2024 (3QFY2024) leaped by more than 51 times year-on-year, mostly contributed by its main extrusion and fabrication segment.</p>


Aluminium extruder PA Resources wants to double production capacity as 3Q profit jumps 51 times on higher sales

<p>Singapore’s Minister for Trade and Industry Gan Kim Yong will be appointed as the chairman of the Monetary Authority of Singapore’s (MAS) board of directors, replacing Lawrence Wong, who is also presently Singapore’s deputy prime minister and minister of finance.</p>


Gan Kim Yong to become Singapore’s deputy PM, new chairman of central bank

<p>KUALA LUMPUR (May 13): Logistics firm Swift Haulage Bhd’s (KL:SWIFT) net profit more than doubled in the first quarter from a year earlier, thanks to one-off gain from a stake sale, as well as higher revenue.</p>


Swift Haulage’s 1Q net profit more than doubles as one-off gain helps

<p>Frontken Corp Bhd (KL:FRONTKN) said a fire broke out at one of its facilities on Sunday (May 12) but was brought under control soon after, with no casualties reported.</p>


Fire broke out at Frontken’s Kulim unit on Sunday; no injuries reported

<p>KUALA LUMPUR (May 13): MMAG Holdings Bhd (KL:MMAG) has teamed up with a conglomerate in Sri Lanka that is&nbsp;bidding to acquire Sri Lankan Airlines, to establish a cargo feeder network for the national carrier.&nbsp;</p>


MMAG, Sri Lankan conglomerate to set up airline cargo feeder network

<p>KUALA LUMPUR (May 13): The Malaysia Aviation Group Bhd (MAG) has launched a global campaign that offers one-way flight tickets for as low as RM69 via its airlines Malaysia Airlines and Firefly, to connect travellers to enriching travel experiences.</p>


Malaysia Airlines, Firefly launch global campaign offering competitive airfares

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EVENING 5: Five things you need to know today

<p>Tax incentives to attract investments into the finance sector in the Forest City Special Financial Zone (SFZ) are expected to be finalised by the end of May.</p>

<p>Johor Mentri Besar Datuk Onn Hafiz Ghazi said a proposal was submitted to the Finance Ministry at the Johor state development meeting chaired by Prime Minister Datuk Seri Anwar Ibrahim on April 18.</p>


Forest City Special Financial Zone tax incentives to be finalised end-May — MB

<p>Serendib Capital Ltd said on Monday an agreement to rescue Sarawak Cable Bhd (KL:SCABLE) remains in force and cannot be terminated unilaterally.</p>


Serendib says Sarawak Cable’s rescue agreement still in force, cannot be terminated unilaterally

<p>Telekom Malaysia Bhd (KL:TM) said on Monday that it had signed deals with the Home Ministry relating to two contracts worth RM120.5 million, at the recent Defence Services Asia (DSA) Exhibition and Conference 2024 and National Security (Natsec) Asia 2024.</p>
