<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 3): Infrastructure utilities construction services provider MN Holdings Bhd has secured a contract worth RM17.6 million for the supply, erection and commissioning of transmission main intake (PMU) for the Pasir Gudang power station extension in Johor.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing on Wednesday, MN Holdings announced that the contract was awarded to its wholly-owned subsidiary, MN Power Transmission Sdn Bhd, by Tenaga Nasional Bhd (TNB).</p></div>

<div class=newsTextDataWrapInner><p>The contract involves establishing two new units of 275kV OHL bays in Permas Jaya and replacing two existing units of 275kV OHL bays at the Pasir Gudang power station north.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Additionally, the scope of work includes supplying, erecting and commissioning the 275/132kV PMU Pasir Gudang power station extension in Johor, along with remote end substation work and associated civil works.</p></div>

<div class=newsTextDataWrapInner><p>MN Holdings noted that the contract will be effective immediately and span 730 days from the commencement date.</p></div>

<div class=newsTextDataWrapInner><p>Shares in MN Holdings settled unchanged at 64 sen on Wednesday, valuing the group at RM284.91 million.</p></div>


Infrastructure utilities construction services provider MN Holdings Bhd has secured a contract worth RM17.6 million for the supply, erection and commissioning of transmission main intake (PMU) for the Pasir Gudang power station extension in Johor.

MN Holdings wins RM17.6m Pasir Gudang power station job

Reddit was down for thousands of users on Thursday, according to outage tracking website Downdetector.com, a day after the social media company said it had fixed a software bug.

Downdetector, which tracks outages by collating status reports from several sources including users, showed more than 14,000 reports of outages.

Reddit down for thousands of users, Downdetector shows

The Inland Revenue Board (LHDN) will continue to enforce compliance through audits and investigations to detect any non-compliance among taxpayers in Malaysia.

LHDN deputy chief executive officer (Compliance) Datuk Hisham Rusli said that all actions are carried out in accordance with the laws set forth.

IRB committed to improving tax compliance via  audits, probes

The International Criminal Court (ICC) issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes in Gaza, adding to pressure on the country’s leadership over the conduct of its military campaign against Hamas.

ICC issues arrest warrant for Israel’s Netanyahu on Gaza ‘war crimes’

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

Petron, DRB-Hicom, Dayang Enterprise, AEON, 7-Eleven, MSM, Hap Seng Consolidated, SunCon, UEM Sunrise, Mega First, Oriental, Heitech Padu, Can-One, Atlan, Maxim, Thong Guan, Globetronics

Thailand is taking steps to attract more foreign investment to accelerate economic growth while preparing to adjust its policies to cope with potential changes to world trade under a Trump presidency, Prime Minister Paetongtarn Shinawatra said.

Thailand seeks foreign investment as PM plans for Trump era

Volkswagen AG faces a growing threat of widespread walkouts as executives and unionists dig in over how to restructure Europe’s biggest automaker.

Labour leaders are offering €1.5 billion (RM7.08 billion) in additional cost cuts — including foregoing some bonuses — to keep factories open, after management dangled the idea of closures.

VW lurches closer to walkouts after talks with union deadlocked

Baidu Inc recorded its biggest revenue drop in more than two years after China’s economic malaise undermined its push into generative AI.

Chinese AI pioneer Baidu posts biggest sales fall since 2022

Magnum Bhd (KL:MAGNUM) reported a slight dip in net profit in the July-Sept period as income tax and other expenses increased, but cushioned by better income generated by its gaming and investment holdings and other segments.

Magnum posts marginally lower net profit in 3Q, amid higher tax and other expenses, declares 1.5 sen dividend

UBS has seen weak European growth hit companies it lends to, CFO Todd Tuckner said on Thursday, with the bank facing a 2024 credit loss expense of some 150 million Swiss francs (US$170 million or RM757.72 million) in its personal and corporate banking business.

UBS flags 'sluggish' Europe growth as it takes US$170m credit hit

Emmanuel Macron’s ill-fated June gamble on snap elections has plunged French businesses into prolonged gloom, clouding the president’s seven-year effort to transform the country into a hub for investment.

French business’s election gloom casts long shadow over outlook

<p>Globetronics Technology Bhd (KL:GTRONIC) has inked an agreement valued at RM145 million to provide integrated circuit (IC) product packaging, testing and backend services to Taiwan-based ChipMOS Technologies Inc.</p>


Globetronics secures RM145 mil contract to provide assembly and test services to Taiwan’s ChipMOS

<p>China has found gold reserves worth 600 billion yuan (US$82.9 billion or RM370.9 billion) in central Hunan province, state outlet <i>Xinhua</i> news said on Thursday.</p>


China finds US$83b worth of gold reserves in Hunan 

<p>Atlan Holdings Bhd's (KL:ATLAN) Singapore-listed subsidiary Duty Free International Ltd (DFIL), which plans to challenge the compulsory acquisition of two plots of land in Kedah by the Malaysian government, announced on Thursday that it had received RM69.6 million as compensation for the land.</p>

<p>The sum was received from the Home Affairs Ministry, which is force-buying the plot from DFIL's wholly-owned Cergasjaya Sdn Bhd and Cergasjaya Properties Sdn Bhd, on Monday (Nov 18).&nbsp; DFIL itself is 75.53% owned by Atlan.</p>


Home Affairs Ministry pays Atlan RM69.6 mil for compulsory purchase of its Kedah plot

<p>Prime Minister Datuk Seri Anwar Ibrahim said on Thursday that about 70% to 80% of the costs of his official trips to five countries over the past two weeks were paid by private companies.</p>


Private firms paid up to 80% of costs for recent official trips abroad, Anwar tells Dewan Rakyat

<p>Sugar producer MSM Malaysia Holdings Bhd (KL:MSM) continued to record losses for the second consecutive quarter, after the group reported a RM49.75 million net loss for the third quarter ended Sept 30, 2024 (3QFY2024).</p>


MSM Malaysia continues to bleed for the second consecutive quarter

<p>Thong Guan Industries Bhd (KL:TGUAN) has proposed a seven sen per share special dividend from proceeds of the sale of its food and beverage (F&amp;B) business to its largest shareholder Foremost Equals Sdn Bhd for RM60 million.</p>


Thong Guan proposes seven sen dividend from proceeds of sale of F&B business to major shareholder for RM60m

<p>In his first global meetings since Donald Trump was reelected to lead the US, Chinese President Xi Jinping went on a diplomatic offensive, hedging against expected new tariffs and preparing to exploit potential future rifts between Washington and its allies.</p>


Bracing for Trump tariffs, China's Xi makes diplomatic push at global summits

<p>Oil company Petron Malaysia Refining &amp; Marketing Bhd (KL:PETRONM) suffered a 94.3% drop in its third-quarter net profit, on lower sales volume due to a correction in domestic fuel demand following the implementation of the retail diesel targeted subsidy in June this year.</p>


Petron Malaysia's 3Q net profit down 94% on lower sales volume, oil prices

<p>AEON Co (M) Bhd (KL:AEON), a general merchandise store and supermarket chain operator, saw its net profit rise 35.4% to RM18.79 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM13.88 million a year earlier on higher revenue.</p>


AEON Co 3Q net profit up 35% with growth across all segments

<p>Heitech Padu Bhd (KL:HTPADU) recorded a net profit of RM6.58 million for the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net loss of RM1.4 million in the corresponding quarter, thanks to a one-off gain on disposal of land and building.</p>


Heitech Padu posts 3Q profit on land, building disposal gain

<p>Automotive seat maker Feytech Holdings Bhd (KL:FEYTECH) has failed to buy a piece of land in the Klang Valley, resulting in a delay in the construction of its new corporate office with a manufacturing plant and warehouse.</p>


Feytech delays construction of head office, manufacturing plant after land deal fails

<p>Oil and gas services provider Dayang Enterprise Holdings Bhd (KL:DAYANG) said it will continue to deliver outstanding performance after posting a record high net profit for its third quarter, which surged 76.67% year-on-year.</p>


Dayang says will continue delivering outstanding performance after 3Q profit hits record

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


FBM KLCI down 0.59% to 1,588.68 on Nov 21, 2024

<p>Baidu Inc recorded its biggest revenue drop in more than two years after China’s economic malaise undermined its push into generative AI.</p>


<p>Sunway Construction Group Bhd (KL:SUNCON) posted a 32.71% jump in its net profit for its third quarter on the accelerated progress of its data centre projects.</p>

<p>Net profit for the third quarter ended Sept 30, 2024 (3QFY2024) rose to RM46.47 million from RM35.01 million in 3QFY2023, as revenue rose 28.48% to RM865.33 million from RM673.51 million, its Thursday bourse filing showed.</p>


SunCon's 3Q profit jumps 32.71% on accelerated data centre progress

<p>DRB-Hicom Bhd (KL:DRBHCOM) saw a net loss of RM5.29 million in the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net profit of RM70.8 million in the same quarter last year.</p>


DRB-Hicom records net loss in 3Q amid automotive and postal sector weakness

<p>Here is a brief recap of some corporate announcements that made the news on Thursday.</p>


<p>Hap Seng Consolidated Bhd (KL:HAPSENG) posted a three-fold jump in net profit for its third quarter from a year ago, on improved contributions from the diversified group’s plantation, property and credit financing divisions.</p>


Hap Seng 3Q net profit triples, declares 10 sen dividend

<p>Cryptocurrency exchange Luno has launched a new feature called Luno Bundles, designed to help customers manage and maintain a diversified portfolio of top-performing cryptocurrencies, including Bitcoin and Ether.</p>


Luno launches ‘Luno Bundles’ that tracks overall crypto market performance

<p>Deputy Works Minister Datuk Seri Ahmad Maslan said on Thursday that the implementation of the multi-lane free flow (MLFF) toll system is still under "heavy consideration" by the government.</p>
