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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: PJD Link project discontinued, says Fahmi</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
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<div class=newsTextDataWrapInner><p>Here’s a quick look at some of the stories that made headlines today.</p></div>

<div class=newsTextDataWrapInner><p>Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.</p></div>

<div class=newsTextDataWrapInner><p>1. The Cabinet on Wednesday decided to <a href="https://theedgemalaysia.com/node/708254" target="_blank">discontinue </a>the construction of the Petaling Jaya Dispersal Link highway project in the Petaling Jaya area, as the developer, PJD Link (M) Sdn Bhd, had failed to meet a number of conditions precedent.</p></div>

<div class=newsTextDataWrapInner><p>2. &nbsp;Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has <a href="https://theedgemalaysia.com/node/708236" target="_blank">affirmed </a>an affidavit that he had sighted the addendum order purportedly issued by the previous King for former prime minister Datuk Seri Najib Razak’s jail sentence to be commuted, and for him to be placed under house arrest instead.</p></div>

<div class=newsTextDataWrapInner><p>3. IGB REIT and IGB Commercial REIT both posted <a href="https://theedgemalaysia.com/node/708297" target="_blank">higher </a>1QFY2024 net property income due in large part to an increase in rental income</p></div>

<div class=newsTextDataWrapInner><p>4. Property developer Menang Corp (M) Bhd said it had <a href="https://theedgemalaysia.com/node/708273" target="_blank">signed </a>an agreement to acquire 20% of an Indonesian healthcare joint venture for RM4 million.</p></div>

<div class=newsTextDataWrapInner><p>5. Malayan Flour Mills Bhd &nbsp;is <a href="https://theedgemalaysia.com/node/708225" target="_blank">investing </a>a total of RM100 million in the financial year of 2024, of which RM32 million will be used to install a new milling line in Lumut.</p></div>


EVENING 5: Five things you need to know today

Capital A CEO Tan Sri Tony Fernandes said the low-cost carrier, which will soon merge with AirAsia X Bhd (AAX), to incorporate a “sustainability fee soon”.

AirAsia will charge 'sustainability fee soon' in airfares

A UK government bond auction was oversubscribed by a record amount, with the highest yields in months attracting buyers again and assuaging concerns that a glut of issuance would dent appetite for the securities.

UK bond demand smashes record as higher yields lure buyers

The Malaysia-Thailand border, including in Rantau Panjang, is open as usual after a bomb explosion occurred in Gualosira, Pasemas District, Sungai Golok in Southern Thailand on Monday.

Sungai Golok blast: Malaysia-Thai border open as usual — police

Cocoa plunged by the most ever, slumping as much as 27% in just two days, with price swings becoming more extreme as fewer investors and companies can afford to maintain trading positions.

Cocoa plunges most ever with trader exodus sparking huge moves

Singapore’s financial regulator is ending a six-month ban that restricted DBS Group Holdings Ltd from non-essential activities, after the country’s largest lender improved weaknesses related to a series of glitches in its digital banking services.

MAS ends DBS’ six-month digital banking penalty

SEG International Bhd’s (SEGi) group managing managing director and major shareholder Tan Sri Clement Hii has bought out private equity firm Navis Capital Partners Ltd' 20.55% stake in SEGi for RM112.98 million cash — or 45 sen per share — triggering a mandatory takeover offer for the remaining shares in the education group at the same price.

Clement Hii buys out PE fund Navis Capital in SEGi, triggers mandatory offer

(April 30): Mauritius’ top telecommunications company is in talks with operators including Reliance Jio Infocomm Ltd and Orange SA for a new undersea cable linking Africa, Indian Ocean islands and Asia, improving redundancy in a region hit by breakdowns.

Mauritius Telecom in talks for subsea cable to link Africa, Asia

PT CIMB Niaga Tbk, the 92.5%-owned subsidiary of CIMB Group Holdings Bhd, reported a 6.3% year-on-year growth in its consolidated net income for the financial quarter ended March 31, 2024 (1QFY2024). The bank attributed the improved earnings to healthy loan growth, improved asset quality indicators and effective cost management.

CIMB Niaga’s 1Q consolidated net income up 6.3%

Oil palm plantation player MKH Oil Palm (East Kalimantan) Bhd (MKHOP) is the second company this year to conclude its maiden trading day on Bursa Malaysia with its share price slipping below its initial public offering (IPO) price.

MKH Oil Palm sinks at close of its main market debut

KUALA LUMPUR (April 30): When it comes to technology (tech), the goal should not be to use the most difficult tech available to do something. Instead, the ultimate goal is to make it simple and cost-effective. This is what Michele Ferrario, co-founder and chief executive officer of Stashaway, aims to achieve with the robo-advisory platform.

Keeping it simple

<p>KUALA LUMPUR (April 30): Sime Darby Plantation Bhd, the world’s largest palm oil producer by acreage, said on Tuesday that it plans to change its name to SD Guthrie Bhd.</p>


Sime Darby Plantation plans to change name to SD Guthrie

<p>Shares in Oppstar Bhd rose to a five-month high on Tuesday after the integrated circuit (IC) design service provider announced it is partnering with South Korea’s tech giant Samsung Electronics Co Ltd to produce industrial ICs.</p>


Oppstar surges to five-month high after announcing Samsung tie-up

<p>The Malaysian Bar filed a judicial review application last Friday (April 26) to seek a declaration that the decision by the Federal Territories Pardons Board on Jan 29 to halve Datuk Seri Najib Razak's jail sentence from 12 years to six years and reduce the fine in his SRC International graft conviction from RM210 million to RM50 million is unconstitutional, void, and unlawful.</p>


Malaysian Bar challenges Pardons Board decision to reduce Najib’s sentence

<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP) opened at 63 sen in its Main Market debut on Tuesday, up 1.6% from its initial public offering (IPO) price of 62 sen.</p>


MKH Oil Palm rises 1.6% to 63 sen in Main Market debut 

<p>RHB Investment Bank Research has maintained its “overweight” rating on the rubber products sector and said it expects glove makers to record positive quarter-on-quarter (q-o-q) net profit growth in the upcoming March quarterly reporting season.</p>


RHB sees glove makers recording positive q-o-q net profit growth in March earnings

<p>KUALA LUMPUR (April 30): The average price for new apartments in Kuala Lumpur has surged to RM708,462, which is seen as surpassing the national average and setting a new benchmark in the industry, according to the real estate technology group Juwai IQI.</p>


Average new apartment price in Malaysia hits RM582,887, surpassed by KL and Johor  — Juwai IQI

<p>Indonesia is planning to offer dual citizenship to its skilled diaspora as part of efforts to stem a brain drain of local talent.</p>


Indonesia plans to offer dual citizenship to halt brain drain

<p>The High Court has ruled that the Joint Management Body (JMB) of Centrestage Petaling Jaya had the right to claim certain areas in the development as common areas and not private areas belonging to the developer and the purchaser.</p>


High Court rules that common areas in Centrestage PJ belong to Joint Management Body

<p>Microsoft will invest US$1.7 billion (RM8.1 billion) over the next four years into expanding cloud services and artificial intelligence in Indonesia, including building data centres, visiting chief executive Satya Nadella said on Tuesday.</p>


Microsoft to invest US$1.7b in cloud, AI in Indonesia, CEO says

<p>Ekuiti Nasional Bhd, the state-owned private equity firm also known as Ekuinas, said on Tuesday it has acquired an 80% stake in pharmaceutical ingredients maker Symbiotica Speciality Ingredients Sdn Bhd.</p>


Ekuinas acquires 80% stake in pharma ingredients maker Symbiotica

<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


SC adds two potential clones to Investor Alert List

<p>SEG International Bhd’s (SEGi) group managing managing director and major shareholder Tan Sri Clement Hii has bought out private equity firm Navis Capital Partners Ltd' 20.55% stake in SEGi for RM112.98 million cash — or 45 sen per share — triggering a mandatory takeover offer for the remaining shares in the education group at the same price.</p>


<p>HSBC said on Tuesday its chief executive Noel Quinn will retire — a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.</p>


HSBC chief executive Quinn announces surprise retirement

<p>KUALA LUMPUR (April 30): Stock exchange operator Bursa Malaysia Bhd said on Tuesday that its net profit rose 34% in the first quarter of the year, from a year earlier, thanks to higher trading activity and fees from listings and other services.</p>


Bursa Malaysia’s 1Q net profit surges 34%, optimistic to hit 2024 targets

<p>KUALA LUMPUR (April 30): Kucingko Bhd said on Tuesday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, setting it to be the first animation production studio to be listed on the Malaysian stock exchange.&nbsp;</p>


Animation production house Kucingko gets nod from Bursa for ACE Market IPO

<p>KUALA LUMPUR (April 30): Shares of Nestlé (Malaysia) Bhd (Nestlé Malaysia) rose to its highest in eight months after reporting results that came in slightly ahead of expectations, though analysts flagged sales pressure ahead for the food-and-drink company.</p>


Nestle Malaysia shares rise to eight-month high after 1Q results

<p>Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Sin-Kung Logistics Bhd at 17 sen, based on 15x price earnings ratio on FY2024F of 1.1 sen.</p>


HLIB values ACE Market-bound Sin-Kung Logistics at 17 sen

<p>Elon Musk has dismissed two Tesla senior executives and plans to lay off hundreds more employees, frustrated by falling sales and the pace of job cuts so far, <i>The Information</i> reported on Tuesday, citing the CEO's email to senior managers.</p>


Musk lays off Tesla senior executives in fresh job cuts — report

<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP), fresh off its Main Market debut on Tuesday, said it has no replanting plans as almost all of its prime mature oil palm trees are over a decade-old.</p>


Main Market debutante MKH Oil Palm says no replanting activities in coming years 

<p>Iconic Worldwide Bhd’s latest condominium development dubbed Iconic Harmony in Bukit Mertajam, Penang, has been 70% taken up since its official launch on April 22.</p>
