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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: Bursa ends mixed amid weak regional sentiment</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
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<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. <a href="https://theedgemalaysia.com/node/708642" target="_blank">Bursa Malaysia ends the week mixed</a> as regional sentiment turns negative on Middle East unrest and a hawkish Fed.</p></div>

<div class=newsTextDataWrapInner><p>2. DOSM’s advance figures show <a href="https://theedgemalaysia.com/node/708600" target="_blank">Malaysia's economy grew 3.9% in 1Q2024</a>, compared with 3.0% in the previous quarter.</p></div>

<div class=newsTextDataWrapInner><p>3. Analysts say the planned merger of Axiata Group and India’s Bharti Airtel <a href="https://theedgemalaysia.com/node/708610" target="_blank">raises earnings concerns</a>.</p></div>

<div class=newsTextDataWrapInner><p>4. <a href="https://theedgemalaysia.com/node/708586" target="_blank">Shares of Awanbiru Technology halve today</a>, prompting Bursa Malaysia to suspend its intraday short selling.</p></div>

<div class=newsTextDataWrapInner><p>5. MKH Oil Palm (East Kalimantan)’s initial public offering is <a href="https://theedgemalaysia.com/node/708623" target="_blank">oversubscribed by 8.43 times</a> ahead of its Apr 30 listing.</p></div>


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

EVENING 5: Five things you need to know today

Ageson Bhd said Virdos Lima Consultancy (M) Sdn Bhd (VL Consultancy) is in the final stage of completing its independent assessment report on the matters raised by its external auditor in its financial statements for the 18-month financial period ended Dec 31, 2022 (FPE2022).

Ageson says independent review of audit issues raised by its auditor now in final stages

The Penang government plans to hold a workshop with stakeholders to finalise the Penang Mutiara Line Light Rail Transit (LRT) Project following minor amendments to the original plan.

Chief Minister Chow Kon Yeow said the workshop is expected to be held within a week or two so that further work involving the transformative infrastructure project can be carried out.

Penang to hold workshop with stakeholders to finalise Mutiara Line LRT alignment

Prime Minister Datuk Seri Anwar Ibrahim said he has encouraged Japan and Qatar to explore investment opportunities in Kelantan.

As the country's leader, he said that he will always strive to help develop all states in Malaysia.

PM encourages Japan, Qatar to explore investment in Kelantan

The options market is betting that stocks will swing widely after Friday’s US jobs report, which traders expect will offer more clarity on how much the Federal Reserve may cut interest rates this year.

The S&P 500 Index is expected to move 1.2% in either direction after the release, based on the cost of at-the-money puts and calls expiring Friday, according to Stuart Kaiser, Citigroup Inc’s head of US equity trading strategy. That figure, based on the prices of S&P straddles as of Wednesday’s close, is the largest implied swing ahead of an employment report since March 2023, he said.

Options traders brace for biggest S&P jobs-day swing in a year

Bill Gross, who pioneered the “total return” strategy in the 1980s that revolutionized the bond market, says the approach is now defunct.

Bill Gross says ‘total return’ strategy he pioneered is ‘dead’

The High Court on Thursday upheld the conviction and 12-year prison sentence against Rumah Bonda founder Siti Bainun Ahd Razali for neglecting and abusing Bella, a teenage girl with Down’s syndrome.

Bella case: High Court upholds Siti Bainun's conviction and sentence  

Blogger Wan Muhammad Azri Wan Deris, or Papagomo, was charged in the Sessions Court here on Thursday with posting seditious articles against His Majesty Sultan Ibrahim, King of Malaysia on his X account.

Wan Muhammad Azri, 41, who is also a former Umno Youth exco member, pleaded not guilty to the charge before Judge Siti Aminah Ghazali.

Papagomo charged with sedition against King

South Malaysia Industries Bhd (SMI) has appointed Leow Thang Fong as its new chief executive officer, effective May 1, two months after a group of shareholders rejected him from being re-elected executive director at its annual general meeting (AGM).

SMI makes Leow Thang Fong CEO after his reappointment as ED rejected at AGM

Prime Minister Datuk Seri Anwar Ibrahim said addressing issues such as hardcore poverty, infrastructure development and basic amenities remain an enduring commitment of the Madani Government, particularly in Kelantan.

He said these issues should ideally be resolved promptly to overcome prolonged hardship for those affected.

Madani Govt firmly committed to resolving people's issues, hardcore poverty — PM

The Federal Government agrees with the Kelantan government's proposal to extend the runway at the Sultan Ismail Petra Airport by 400 metres for it to become an international airport.

Prime Minister Datuk Seri Anwar Ibrahim said he had asked Transport Minister Anthony Loke Siew Fook to expedite the ongoing construction of the airport.

Sultan Ismail Petra Airport to be upgraded as international airport — Anwar

<p>Protasco Bhd, which has businesses ranging from hotel to engineering, said on Thursday it has received an offer to buy its unit Ikram Education Sdn Bhd which owns the Infrastructure University Kuala Lumpur (IUKL).</p>


Protasco gets offer from HK firm to buy its university unit

<p>Subang Airport, officially known as Sultan Abdul Aziz Shah Airport, will likely be able to handle jet aircraft by the third quarter this year, according to Transport Minister Anthony Loke.</p>


Subang Airport’s jet ops likely to start in 3Q, also eyes business jets — Loke

<p>Mechanical and electrical engineering services provider Pasukhas Group Bhd has secured a RM56.98 million contract to build a data centre in Selangor.</p>


Pasukhas secures RM57m contract from US company to build data centre in Selangor 

<p>The additional investment by Microsoft amounting to US$2.2 billion or RM10.5 billion in the country over the next four years is the largest single investment by the company in its 32 years in Malaysia.</p>


Microsoft’s new US$2.2b outlay is company’s largest single investment in Malaysia, says Anwar

<p>The High Court on Thursday dismissed Tengku Datuk Zafrul Abdul Aziz's application to file an affidavit with regards to Datuk Seri Najib Razak's judicial review application to unearth an addendum to his pardon order that detailed he was to spend the remainder of his sentence under "house arrest".</p>


Court rejects Zafrul’s bid to file affidavit on Najib’s ‘house arrest’ order

<p>Shares of Ge-Shen Corp Bhd rose as much as 14.91% to a new record high of RM4.47 on Thursday, following the emergence of Chin Hin Group’s Chiau family as its second largest shareholder.</p>


Ge-Shen shares hit new high on emergence of new substantial shareholder

<p>Yinson Production, the offshore production business unit of Yinson Holdings Bhd, has closed the limited recourse term loan facility of up to US$1.3 billion (RM6.2 billion) for the pre- and post-delivery financing of the Agogo floating, production, storage and offloading (FPSO) vessel, which will be deployed in Angola.</p>


Yinson unit secures single largest term loan of US$1.3b to finance Agogo FPSO delivery

<p>US President Joe Biden included ally Japan along with rivals China and Russia in a list of countries he called “xenophobic” in a speech at a campaign fundraising event in Washington.</p>


Biden calls ally Japan ‘xenophobic’ along with China, Russia

<p>theedgemalaysia.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close on Thursday. Two stocks showed positive momentum while five stocks showed negative momentum.</p>


GHL Systems, Oppstar, Bursa Malaysia, Country View, Fiamma, Marco, Tambun Indah 

<p>Malaysia’s biggest port operator Westports Holdings Bhd said on Thursday its net profit rose 11.4% year-on-year (y-o-y) in the first quarter, thanks to higher container revenue, coupled with higher finance income and share of results of a joint venture (JV).</p>


Westports' 1Q net profit up 11% on higher container revenue, finance income and share of results of JV

<p>Smart Asia Chemical Bhd, en route to Bursa Malaysia’s ACE Market, expects its new plant in Perak to triple its production capacity while allowing the paint and coating manufacturer to be closer to its clients.</p>


Smart Asia Chemical to triple capacity with new plant from IPO proceeds

<p>IT will be a busy year for the energy sector. Over the past month, there has been a slew of announcements, with the latest being the establishment of the Energy Exchange Malaysia (Enegem).</p>

<p>The Enegem programme will start with a project with a pilot auction of 100mw of renewable energy (...

Cover Story: A busy year for RE players

<p>The El Nino phenomenon hitting the country is expected to continue for the next two months, said Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.</p>


El Nino to last two more months; 2024 could be Malaysia’s hottest year — Nik Nazmi 

<p>South Korea's SK Hynix said on Thursday its high-bandwidth memory (HBM) chips used in AI chipsets were sold out for this year and almost sold out for 2025 as businesses aggressively expand artificial intelligence services.</p>


Nvidia supplier SK Hynix says HBM chips almost sold out for 2025

<p>Local authorities' investigations into 1Malaysia Development Bhd (1MDB) involved "thousands" of documents, and not all of them could be specifically shown to imprisoned former prime minister Datuk Seri Najib Razak when his statement was recorded, the court heard on Thursday.</p>


MACC IO says 'thousands' of docs involved in 1MDB probe, impossible to show each one to Najib

<p>Food ingredients supplier Agricore CS Holdings Bhd said on Thursday it has signed an agreement with M&amp;A Securities to underwrite its initial public offering (IPO) on the ACE Market.</p>


Agricore CS signs underwriting agreement for ACE Market IPO

<p>DBS Group Holdings Ltd was hit by renewed disruptions to its Internet banking and payment services in Singapore on Thursday, days after a six-month ban by the island’s central bank over similar glitches ended.</p>


Singapore DBS’ digital services hit days after MAS ban ends

<p>Construction outfit and bus operator Epicon Bhd will exit Practice Note 17 (PN17) status on Friday following the completion of its regularisation plan.</p>


Epicon, formerly Konsortium Transnasional, exits PN17 status

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<p class="thumb-cap">E...

<p>Lotte Chemical Titan Holdings Bhd (LCTitan) logged a net loss of RM178.03 million in the first quarter ended March 31, 2024 (1QFY2024), making the group's eighth straight loss-making quarter.</p>
