<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 31): Recently listed SBH Marine Holdings Bhd (KL:SBH) posted a net profit of RM972,000 on the back of revenue of RM40.52 million in the first quarter ended March 31, 2024, derived from the processing and sale of frozen seafood products.</p></div>

<div class=newsTextDataWrapInner><p>There are no comparative figures of the preceding year’s corresponding quarter as no interim financial report has been prepared by the company prior to its listing.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share stood at 0.14 sen. SBH did not declare any dividend.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Reviewing its performance, SBH said revenue for the period fell 11% quarter-on-quarter from RM47.11 million, due to lower selling prices of shrimps and higher freight costs.</p></div>

<div class=newsTextDataWrapInner><p>On its prospects, SBH said the financial year ending Dec 31, 2024 is anticipated to remain challenging due to the global market uncertainty arising from the ongoing Red Sea crisis, which had affected global shipping routes and increased freight rates.</p></div>

<div class=newsTextDataWrapInner><p>“Despite the challenges ahead, the group remains confident in the execution of our strategic plans with prudent management,” it said.</p></div>

<div class=newsTextDataWrapInner><p>At the midday break on Friday, SBH was unchanged at 23 sen with 2.11 million shares traded.</p></div>


Recently listed SBH Marine Holdings Bhd (KL:SBH) posted a net profit of RM972,000 on the back of revenue of RM40.52 million in the first quarter ended March 31, 2024, derived from the processing and sale of frozen seafood products.

SBH Marine posts RM972,000 net profit in 1Q

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ANZ Group has been sanctioned for failing to stop or refund fees for dead customers and for not responding to representatives of customers who have passed away within a required time frame, Australia's Banking Code Compliance Committee said on Tuesday.

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There is no policy paper yet allowing the implementation of subsidy cuts for RON95, said Prime Minister Datuk Seri Anwar Ibrahim.

While there have been studies on shifting away from blanket subsidies towards a targeted approach for RON95, Anwar said the government intends to evaluate the outcomes of rationalising subsidies on electricity, chicken and diesel for now.

No policy paper yet on slashing RON95 subsidies, says Anwar

The largest union at Samsung Electronics Co said it will stage a three-day walkout beginning July 8, adding to the challenges for South Korea’s largest company as it seeks to recover from setbacks in its semiconductor business.

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Singapore will lower the threshold for checks on cash deposits received by casinos in a bid to prevent exploitation by terrorist and criminal organisations.

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Huawei Technologies has teamed up with Chinese foundry Wuhan Xinxin Semiconductor Manufacturing Co to develop high-bandwidth memory (HBM) chips, according to sources, as these devices have become an indispensable component in the computing infrastructure used for artificial intelligence (AI) projects, South China Morning Post (SCMP) reported.

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Malaysia’s manufacturing sector is still on track for growth, economists said and shrugged off the slight contraction in June’s purchasing managers’ index (PMI).

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MIDF in a note on Tuesday kept its neutral recommendation on TM with an unchanged target price of RM7.03, primarily due to the continuation of the existing emergency services project.

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


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<p>BMI, a Fitch Solutions company, has retained its 2024 forecast that the Malaysian ringgit will appreciate later this year, rising from RM4.70/USD currently to RM4.55/USD by end-2024.</p>


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<p>Megacap growth stocks led by Apple and Tesla lifted the tech-heavy Nasdaq to a higher close on Monday, while the Dow and the S&amp;P 500 also eked out slight gains in light pre-holiday trading.</p>


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<p>Global stocks edged higher in choppy trading on Monday, while US Treasury yields rose following France's historic elections and ahead of a string of economic data this week that could provide clues on the likelihood of Federal Reserve (Fed) interest rate cut.</p>


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<p>MIDF Research is optimistic about the ringgit strengthening to approximately 4.43 versus the greenback by year end, while Maybank Investment Bank remains cautious, expecting the US dollar's strength to keep the local currency around 4.70-4.75 levels until some potential relief later in 2024.</p>


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<p>Prime Minister Datuk Seri Anwar Ibrahim stressed that the Madani Government remains resolute despite facing criticism for unpopular decisions such as implementing targeted diesel subsidy and taking strict measures against corruption.</p>


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<p>The president of the US has been elevated to the status of "a king above the law." The occupant of the White House may order assassinations of political rivals without fear of prosecution. America's leader may now be insulated from criminal consequences for whatever he or she wants to do in office.</p>


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<p>Malaysia’s manufacturing sector is still on track for growth, economists said and shrugged off the slight contraction in June’s purchasing managers’ index (PMI).</p>


<p>There is no policy paper yet allowing the implementation of subsidy cuts for RON95, said Prime Minister Datuk Seri Anwar Ibrahim.</p>

<p>While there have been studies on shifting away from blanket subsidies towards a targeted approach for RON95, Anwar said the government intends to evaluate the outcomes of rationalising subsidies on electricity, chicken and diesel for now.</p>


<p>MIDF Research and Kenanga Research maintained their stance on Telekom Malaysia Bhd (KL:TM) following the group’s recent win of a 12-year concession from the government to develop and operate the new Next Generation Emergency Services 999 (NG999) system.</p>

<p>MIDF in a note on Tuesday kept its neutral recommendation on TM with an unchanged target price of RM7.03, primarily due to the continuation of the existing emergency services project.</p>


<p>FRESH from a win in the Kuala Kubu Bharu by-election in May, Pakatan Harapan (PH) is seeking to ride that momentum to reclaim the Sungai Bakap, Penang, state assembly seat in the by-election on July 6.&nbsp;</p>

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<p>Philippine President Ferdinand R Marcos Jr has invited Malaysian companies to participate in various economic activities in the Southern Philippines.</p>

<p>The Foreign Ministry in a statement said the invitation was made during Foreign Minister Datuk Seri Mohamad Hasan’s courtesy call on Marcos in conjunction with his official visit to the Philippines on Monday.</p>


President Marcos invites Malaysian companies to invest in Southern Philippines

<p>Singapore will lower the threshold for checks on cash deposits received by casinos in a bid to prevent exploitation by terrorist and criminal organisations.</p>


<p>BlackRock has launched a 'buffer' exchange-traded fund (ETF) that seeks to offer a 100% downside hedge to risk-shy investors looking to tap the equity markets, the world's largest asset manager said on Monday.</p>


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<p>A surge of Chinese plastic supply is threatening to overflow in the face of weak domestic demand, morphing into a fresh trade challenge for the rest of the world.</p>


<p>Huawei Technologies&nbsp;has teamed up with Chinese foundry Wuhan Xinxin Semiconductor Manufacturing Co to develop&nbsp;high-bandwidth memory (HBM) chips, according to sources, as these devices have become an indispensable component in the computing infrastructure used for&nbsp;artificial intelligence (AI) projects, <em>South China Morning Post (SCMP)&nbsp;</em>reported.</p>
