<div class="ceonothumb mx-auto pb-5">
<div>
<div class="iframe-w100-wrapper"><iframe allowfullscreen="" frameborder="0" height="500" src="https://www.youtube.com/embed/l56K3zFsPTk?si=EJn8MQBYV-CAV27h&amp;rel=0&amp;autoplay=1&amp;mute=1" width="840"></iframe></div>
</div>

<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: Merger of airlines enough to reverse negative equity - Fernandes</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
</div>

<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 corporate exercise to merge the AirAsia airline <a href="https://theedgemalaysia.com/node/709489" target="_blank">businesses </a>under AirAsia X Bhd is apparently sufficient to <a href="https://theedgemalaysia.com/node/709466" target="_blank">offset </a>all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.</p></div>

<div class=newsTextDataWrapInner><p>2. Communications Minister Fahmi Fadzil said the government is <a href="https://theedgemalaysia.com/node/709477" target="_blank">expected </a>to unveil the second 5G network next week.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>3. Unisem (M) Bhd kicked off the financial year with its first-quarter earnings down 14% compared to the year prior, <a href="https://theedgemalaysia.com/node/709507" target="_blank">dragged </a>by a lower gross profit margin, foreign exchange losses, and lower income from scrap sales.</p></div>

<div class=newsTextDataWrapInner><p>4. Berjaya Corp Bhd has <a href="https://theedgemalaysia.com/node/709478" target="_blank">denied </a>that its founder Tan Sri Vincent Tan Chee Yioun participated in talks to revive a US$100 billion Forest City casino resort.</p></div>

<div class=newsTextDataWrapInner><p>5. Homeritz Corporation Bhd’s net profit <a href="https://theedgemalaysia.com/node/709563" target="_blank">surged </a>by 65.9% in the second quarter ended Feb 29, 2024 to RM9.24 million, due to increased sales volume and a stronger US dollar.</p></div>


EVENING 5: Five things you need to know today

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

Sime Darby Plantation, Pekat, Siab, OCK, Sapura Energy, CTOS, Awantec, Mobilia, Prolintas, Power Root

GCH Retail (M) Sdn Bhd, the operator of Giant hypermarkets, said the courts are still deciding on the company’s tenancy dispute with its landlord over premises it is currently occupying in Batu Caves.

GCH Retail says Giant Batu Caves tenancy dispute with landlord still being decided by courts

The takeover bid by Yinson Holdings Bhd’s major shareholder for Icon Offshore Bhd was made at 63.5 sen per share, as wellas 0.1 sen per warrant.

Yinson's major shareholder raises Icon stake to 56.67% as MGO closes

TikTok and its Chinese parent company ByteDance said on Tuesday they filed suit in US federal court seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 million Americans or ban its use.

TikTok, ByteDance sue to block US law seeking sale or ban of app

The Malaysian Anti-Corruption Commission (MACC) is studying allegations against Housing and Local Government Minister Nga Kor Ming with regards to his announcement of an allocation for infrastructure in Kuala Kubu Bharu (KKB) recently.

MACC looking into minister’s KKB allocation announcement ahead of poll

Power Root Bhd's subsidiaries have successfully recovered trademark of its own “Ah Huat” brand for coffee and tea beverages, after reaching an amicable out-of-court settlement with its Indonesian distributor CV Ego Sun Star Sukses Mandiri (CV Ego) following an infringement wrangle that started in 2013.

Power Root reclaims ‘Ah Huat’ brand in Indonesia after decade-long trademark tussle 

Urusharta Jamaah Sdn Bhd (UJSB) — a special purpose vehicle established under the Ministry of Finance to rehabilitate, restructure and monetise underperforming assets transferred to it from Lembaga Tabung Haji — has emerged as a substantial shareholder in Prolintas Infra Business Trust.

Urusharta Jamaah emerges as third largest shareholder in Prolintas Infra

A key measure of world indebtedness has resumed its climb as global debt hit a record high of US$315 trillion (RM1.5 quadrillion) in the first quarter of the year, fuelled by borrowing in emerging markets, the US and Japan, a study showed.

Key debt ratio resumes rise as global debt burden hits record US$315 tril, IIF says

Home furniture maker Mobilia Holdings Bhd is planning to issue up to 218.75 million free warrants (Warrants-B), on the basis of one Warrant-B for every four existing shares held by entitled shareholders.

Home furniture maker Mobilia plans one-for-four free warrants

Israel’s move to take control of the Rafah crossing into Egypt has sparked furious debate about its end goal: Is this the start of a long-threatened invasion of the southern Gaza city, or an attempt to pressure Hamas to ease conditions for a cease-fire and the release of hostages?

Israel edges into Rafah with tensions high over deadlocked talks

<p>Malaysian stocks hit RM2 trillion in market capitalisation for the first time ever on Tuesday thanks to broad gains in blue chip stocks and a slew of new listings.</p>


Malaysian stocks’ market capitalisation reaches historical high of RM2 tril

<p>KUALA LUMPUR (May 7): A 47-year-old was confirmed dead while a 26-year-old man suffered serious injuries when a huge tree came crushing down on 17 vehicles along Jalan Sultan Ismail, just outside the Concorde Hotel, during a thunderstorm and heavy rain, at about 2.19pm here Tuesday.</p>

<p>Apa...

One killed, another hurt after fallen tree smashes into cars, monorail track in KL

<p>Pelaburan Hartanah Bhd (PHB) is to part ways with Maybank Asset Management Sdn Bhd (Maybank AB) to independently manage the funds of its commercial property unit trust, Amanah Hartanah Bumiputera (AHB), as part of its seven-year business plan that aims to increase the fund size from RM5 billion to RM20 billion by 2030.</p>


PHB to independently manage AHB funds, aims to quadruple fund size to RM20 bil

<p>Global oil major Shell said on Tuesday that it remains "committed to the mobility business" in Malaysia, after a report that it was in talks with Saudi Aramco to sell its gas stations in the country.</p>


Shell says it remains committed to mobility business in Malaysia

<p>(May 7):&nbsp;Princeton Digital Group secured a US$280 million green loan to help finance a US$1.5 billion data centre it’s building in southern Malaysia, a first for the Asian infrastructure operator as it aims to get that complex operational by June.</p>


Singapore-based Princeton Digital gets green loan for US$1.5b Asia AI hub in Johor

<p>The Investment, Trade and Industry Ministry (Miti) has confirmed that an announcement on Google’s investment in Malaysia will be made in the near future.</p>


Announcement on Google's investments in Malaysia soon, says Zafrul

<p>PUTRAJAYA (May 7): The Malaysian Anti-Corruption Commission (MACC) has revealed that the nation incurred losses totalling RM277 billion as a result of corruption over the past five years.</p>


Malaysia suffered RM277b in loss over five years up to 2023 due to corruption — MACC

<p>Insurance comparison platform BJAK says it acknowledges the "issues" raised by the Road Transport Department (JPJ) and is actively working with the authority to address them.</p>


BJAK acknowledges issues raised by JPJ, says actively working to address them

<p>Sapura Energy Bhd’s joint venture companies (JVCos) have bagged contracts worth US$1.8 billion (RM8.53 billion) to provide engineering services via six pipe-laying support vessels.</p>


Sapura Energy's JVs win US1.8b worth of contracts in Brazil

<p>Telecommunication tower company (towerco) OCK Group Bhd has entered into a 15-year tower leasing agreement with Best Telecom Co Ltd, marking its entry into Laos, where Best Telecom plans to launch their 5G network by the end of the year.</p>


OCK marks entry into Laos with a 15-year tower leasing deal with Best Telecom

<div class="ceonothumb mx-auto pb-5">
<div>
<div class="iframe-w100-wrapper"><iframe allowfullscreen="" frameborder="0" height="500" src="https://www.youtube.com/embed/3m3uDu_p7Rw?si=EJn8MQBYV-CAV27h&amp;rel=0&amp;autoplay=1&amp;mute=1" width="840"></iframe></div>
</div>

<p class="thumb-cap">E...

<p>KUALA LUMPUR (May 7): Following its record-breaking year in 2023, CTOS Digital Bhd posted a 25.6% year-on-year jump in its first quarter net profit this year, as it recorded higher revenue and lower tax expense following the approval of a tax incentive for its main subsidiary CTOS Data Systems Sdn Bhd (CDS).</p>


CTOS kicks off FY2024 with 25% profit jump on higher revenue, lower taxes

<p>KUALA LUMPUR (May 7):&nbsp;More than 98% of total manufacturing projects approved in 2023 have been implemented or are in the planning stage as of May 5, said the Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz on Tuesday.</p>

<p>According to the Ministry of Inve...

Zafrul: Over 98% manufacturing projects approved in 2023 implemented, in planning

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


<p>The Malaysian Communications and Multimedia Commission (MCMC) will sign a Memorandum of Understanding (MOU) with Microsoft on May 14 to develop a digitally skilled workforce, particularly in the artificial intelligence (AI) sector, through education.</p>


MCMC, Microsoft to ink MOU on digital workforce cultivation next Tuesday — deputy minister 

<p>BATU KAWAN (May 7): The semiconductor industry presents Malaysia with a once-in-a-generation opportunity for exponential economic growth, and industry players are advised to capitalise on this billion-dollar sector, said&nbsp;Deputy Investment, Trade and Industry Minister Liew Chin Tong on Tuesday.</p>


Semiconductor industry offers Malaysia chance for exponential growth — deputy minister

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


KLCI rises 0.52% to close at 1,605.68 on May 7, 2024

<p>AwanBiru Technology Bhd (Awantec) reported a net profit of RM2.14 million for its third quarter ended March 31, 2024 (3QFY2024), a significant turnaround from the net loss of RM1.99 million it incurred a year ago, as its software and services segment secured major contracts with higher revenue.</p>


Awantec reports profit in 3Q as revenue jumps on new contracts

<p>The takeover bid by Yinson Holdings Bhd’s major shareholder for Icon Offshore Bhd was made at 63.5 sen per share, as wellas 0.1 sen per warrant.</p>


<p>Plunging prices for solar panels that have slashed profits across the sector don’t have much room to fall any further, according to the chairmen of two of the industry’s biggest firms.</p>
