EVENING 5: Malaysia’s 1Q GDP beats estimates, grows 4.2%
Here’s a quick look at some of the stories that made headlines today.
Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.
1. Malaysia’s economic growth accelerated faster than expected in the first quarter of 2024, thanks to higher household spending, stronger investment activities, and improvement in tourist arrivals.
2. Tan Sri Mokhzani Mahathir will step down as the non-executive chairman of Maxis Bhd, effective from June 30, after 15 years sitting on the board.
3. Malayan Flour Mills Bhd’s net profit has more than tripled for the first quarter thanks to higher margins in its flour and grain segment from lower wheat prices.
4. PPB Group Bhd is planning to invest RM327 million in its film exhibition and distribution segment, which houses Golden Screen Cinemas, over the next five years.
5. Two years after it was listed on the ACE Market of Bursa Malaysia, pawnshop operator Pappajack Bhd is seeking a transfer to the Main Market.