<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 29): Chin Teck Plantations Bhd's net profit nearly doubled to RM22.69 million for its third quarter ended May 31, 2024 (3QFY2024), from RM11.44 million a year earlier, driven by higher revenue.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share rose to 24.83 sen from 12.52 sen, according to the oil palm planter's bourse filing.</p></div>

<div class=newsTextDataWrapInner><p>Revenue for the quarter jumped 41.7% year-on-year to RM66.6 million from RM47 million, thanks to higher sales volumes of fresh fruit bunches (FFB), crude palm oil, and palm kernels,</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>For the first nine months of FY2024, net profit rose over 63% year-on-year to RM64.8 million from RM39.7 million, while revenue increased 15.98% to RM181 million from RM156.1 million.</p></div>

<div class=newsTextDataWrapInner><p>Chin Teck has declared a second interim dividend of eight sen per share and a special dividend of 20 sen per share, payable on Aug 30, with an ex-date of Aug 13.</p></div>

<div class=newsTextDataWrapInner><p>Commenting on its prospects for the remainder of FY2024, Chin Teck said it expects FFB production to increase, which would positively impact plantation profits.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Chin Teck gained five sen, or 0.66%, to RM7.60 at Monday's market close, giving the group a market capitalisation of RM694.36 million.</p></div>


Chin Teck Plantations Bhd's net profit nearly doubled to RM22.69 million for its third quarter ended May 31, 2024 (3QFY2024), from RM11.44 million a year earlier, driven by higher revenue.

Earnings per share rose to 24.83 sen from 12.52 sen, according to the oil palm planter's bourse filing.

Chin Teck 3Q net profit doubles on higher revenue, declares 28 sen dividend

Prolonged global supply chain disruptions in recent years have in no uncertain terms laid bare that logistics can cause immense disruption. Due to Asia's high growth prospects, these supply chain bottlenecks could derail the potential of the various national economies throughout the continent.

How can Malaysia’s supply chains withstand unprecedented disruption?

Supermax Corporation Bhd (KL:SUPERMX) shares gained in early trade on Thursday, mostly due to an improved outlook and earnings potential of the company's US facility, amid recent efforts to boost glove production there.

Supermax gains on earnings potential of US facility amid efforts to boost glove production

Retailer Eco-Shop Marketing Bhd, which operates 320 discount stores nationwide, is planning to float its shares on the Main Market of Bursa Malaysia to raise funds for business expansion, according to its draft prospectus filed with the Securities Commission Malaysia.

Creador-backed discount store retailer Eco-Shop eyes Main Market listing, plans to float 862 mil shares

Shares of cash-rich Apollo Food Holdings Bhd (KL:APOLLO) soared in early trading on Thursday, after it declared a 30 sen dividend following improved second-quarter results.

Apollo shares rise on dividend following stronger 2Q

Cropmate Bhd (KL:CRPMATE) jumped on its ACE Market debut on Thursday, after its initial public offering (IPO) raised some RM42 million mainly for the fertiliser company's operations and expansion plans.

Fertiliser company Cropmate jumps 22.5% on ACE Market debut

The ongoing flood situation in the country is among the key issues to be highlighted in the Dewan Rakyat on Thursday.

According to the Order Paper, V Ganabatirau (Pakatan Harapan-Klang) will ask the minister of energy transition and water transformation whether the government is satisfied with the development of flood mitigation infrastructure and related investments.

Flood-related matters take centre stage in Dewan Rakyat today

Amazon Web Services Inc (AWS) announced on Wednesday that Southeast Asian super-app Grab Holdings Inc has chosen AWS as its preferred cloud provider to enhance operational efficiency across eight Asean countries.

Grab picks Amazon Web Services as cloud provider to drive growth and efficiency across Asean

Genting Bhd (KL:GENTING) and Genting Malaysia Bhd (KL:GENM) are likely to be removed from the 30-stock FTSE Bursa Malaysia (FBM) KLCI in the latest review of the benchmark index that will be announced on Thursday, according to sources.

Genting, Genting Malaysia to be dropped from FBM KLCI — sources

Global equities were set to climb higher as bullish comments from Jerome Powell supported risk assets. Currency traders remained on edge as the French government fell after a no-confidence vote.

Shares in Australia and equity futures in Japan rose, while contracts for Hong Kong were slightly lower.

Global stocks rise to record on Powell, bonds gain

The South Korean won rebounded on Wednesday, posting the sharpest gains among emerging-market currencies, after President Yoon Suk Yeol rapidly reversed his martial law declaration. Traders were waiting on Federal Reserve Chair Jerome Powell’s remarks for clues on where US interest rates are headed.

South Korean won outperforms emerging peers before Powell remarks

<p>Genting Bhd (KL:GENTING) and Genting Malaysia Bhd (KL:GENM) are likely to be removed from the 30-stock FTSE Bursa Malaysia (FBM) KLCI in the latest review of the benchmark index that will be announced on Thursday, according to sources.</p>


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


Capital A, Superlon, Focus Dynamics, Uzma, UEM Sunrise, Mulpha, Central Global, Apollo Food, TMC Life Sciences, Sentoria, Binasat

<p>Retailer Eco-Shop Marketing Bhd, which operates 320 discount stores nationwide, is planning to float its shares on the Main Market of Bursa Malaysia to raise funds for business expansion, according to its draft prospectus filed with the Securities Commission Malaysia.</p>


<p>Wall Street's main indexes climbed on Wednesday, with the S&amp;P 500 and the Nasdaq touching record highs propelled by gains in technology stocks, while investors awaited comments from Federal Reserve chair Jerome Powell later in the day.</p>


Tech rally drives S&P 500, Nasdaq to record highs; Powell comments in focus

<p>Global equities were set to climb higher as bullish comments from Jerome Powell supported risk assets. Currency traders remained on edge as the French government fell after a&nbsp;no-confidence vote.</p>

<p>Shares in Australia and equity futures in Japan rose, while contracts for Hong Kong were slightly lower.</p>


<p>Binasat Communications Bhd (KL:BINACOM) has proposed to undertake a private placement to finance the acquisition of several properties.</p>


Binasat plans private placement to finance property acquisitions

<p>Stocks hit all-time highs as Federal Reserve Chair Jerome Powell said the economy is in remarkably good shape. The euro wavered as the French government fell after a no-confidence vote in Parliament.</p>

<p>A rally in big tech drove the S&amp;P 500 to its 56th closing record in 2024. The Nasdaq 100 climbed more than 1%. Nvidia Corp.</p>


US stocks hit record as Powell bullish on economy

<p>Cropmate Bhd (KL:CRPMATE) jumped on its ACE Market debut on Thursday, after its initial public offering (IPO) raised some RM42 million&nbsp;mainly for the fertiliser company's operations and expansion plans.</p>


<p>The Dewan Rakyat on Wednesday approved the Commercial Vehicles Licensing Board (Amendment) 2024 Bill, which, among others, introduces the legal basis to address the issue of illegal or unauthorised bus ticket sales in Sabah, Sarawak and Labuan.</p>


Dewan Rakyat passes Commercial Vehicles Licensing Board (Amendment) 2024 Bill

<p>Amazon Web Services Inc (AWS)&nbsp;announced on Wednesday that Southeast Asian super-app&nbsp;Grab Holdings Inc has chosen AWS as its preferred cloud provider to enhance operational efficiency across eight Asean countries.</p>


<p>AstraZeneca plc has appointed Iskra Reic as executive vice-president of its international business, replacing Leon Wang who is under investigation by Chinese authorities.&nbsp;</p>


AstraZeneca veteran replaces detained China executive Leon Wang

<p>Supermax Corporation Bhd (KL:SUPERMX) shares gained in early trade on Thursday, mostly due to an improved outlook and&nbsp;earnings potential of the company's US facility, amid recent efforts to boost glove production there.</p>


<p>Brian Thompson, the CEO of UnitedHealth's insurance unit, was fatally shot in the chest on Wednesday morning outside the Hilton hotel in midtown Manhattan, the <i>NY Post</i> and <i>Bloomberg</i> reported, citing police sources.</p>


UnitedHealthcare executive fatally shot in Manhattan, reports say

<p>Shares of&nbsp;cash-rich Apollo Food Holdings Bhd&nbsp;(KL:APOLLO) soared in early trading on Thursday, after it declared a 30 sen dividend following improved second-quarter results.</p>


<p>The South Korean won rebounded on Wednesday, posting the sharpest gains among emerging-market currencies, after President Yoon Suk Yeol rapidly reversed his martial law declaration. Traders were waiting on Federal Reserve Chair Jerome Powell’s remarks for clues on where US interest rates are headed.</p>


<p>A consortium seeking to buy out Hong Kong-listed ESR Group Ltd has submitted a binding offer for the logistics real estate firm, a move that would bring the months-long takeover pursuit one step closer to an end.</p>


ESR gets US$7 bil binding takeover offer from buyout group

<p>The two-day Asean Senior Economic Officials Meeting (SEOM) Retreat 2025, which ends on Thursday, is a vital preparatory meeting aimed at updating outstanding issues from the previous Asean chairmanship.</p>


Asean SEOM Retreat to understand outstanding issues from previous Asean chairmanship

<p>Canary Wharf Group’s bondholders have agreed to let the London docklands developer raise new debt, according to a regulatory filing, paving the way for it to refinance around £600 million (RM3.38 billion) of maturing notes.</p>


Canary Wharf gets green light from bondholders for new debt

<p>US services activity expanded in November at the slowest pace in three months as demand and employment growth settled back, indicating the largest part of the economy is losing momentum.</p>


US services activity expands at slowest pace in three months 

<p>The ongoing flood situation in the country is among the key issues to be highlighted in the Dewan Rakyat on Thursday.</p>

<p>According to the Order Paper, V&nbsp;Ganabatirau (Pakatan Harapan-Klang) will ask the minister of energy transition and water transformation whether the government is satisfied with the development of flood mitigation infrastructure and related investments.</p>
