<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 20): Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday:</p></div>

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A summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.

FBM KLCI slips 0.36% to 1,642.77 on Aug 20, 2024

Here is a brief recap of some corporate announcements that made news on Monday.

IJM, RHB Bank, Affin Bank, Mr DIY, PetDag, KLCCP Stapled Group, S P Setia, IOI Properties, MPI, Hong Leong Industries, Gas Malaysia, Solarvest, Ho Hup Construction, Haily

The Umno supreme council has revoked the suspension of former Pasir Salak MP Datuk Seri Tajuddin Abdul Rahman’s membership in Umno with immediate effect.

Tajuddin reinstated as Umno member after suspension lifted

SKP Resources Bhd, one of the Malaysian suppliers of British consumer goods company Dyson Ltd, said on Monday it is mindful of significant credit concentration risk that may arise from a major customer and is continuously seeking to diversify its customer base, as it reported a 26.89% year-on-year jump in its second quarter net profit on higher revenue.

Dyson supplier SKP Resources says it's seeking to diversify customer base as 2Q profit jumps 

Funds managed by Blackstone Inc agreed to invest US$3.5 billion (RM15.63 billion) to create a joint venture with EQT Corp, enabling the US natural gas producer to reduce its debt.

Blackstone, EQT form US$3.5 bil gas pipeline venture

The benchmark S&P 500 and the blue-chip Dow hit intraday record highs on Monday while the Nasdaq also advanced, with Scott Bessent's nomination as Treasury secretary in the incoming Trump administration boosting investor sentiment.

S&P 500, Dow touch record highs as markets cheer Trump's Treasury pick

Taliworks Corp Bhd’s (KL:TALIWRK) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) jumped 79.08% year-on-year to RM24.25 million from RM13.54 million a year ago, driven by higher revenue across all operating business segments.

Taliworks’ 3Q net profit up 79% on growth across board, toll compensation; pays two sen dividend

Gamuda Bhd (KL:GAMUDA), whose share price has more than doubled year-to-date (YTD), is among companies analysts are expect to be included in the FTSE Bursa Malaysia KLCI following the index’s semi-annual review.

Is KLCI inclusion on the cards for 99 Speed Mart?

The government does not intend to allow vehicles owned by non-citizens to enjoy the RON95 subsidy, said the Ministry of Economy.

The ministry said the move was in line with the government’s objective to strengthen the country’s fiscal positition as stated in the 12th Malaysia Plan (12MP).

Economy Ministry says govt will not allow non-citizen vehicles to enjoy RON95 subsidy 

The flood situation in Terengganu has continued to improve, with the number of evacuees declining, while figures in Johor and Kelantan remain unchanged as of 8pm on Monday.

Number of flood victims drops in Terengganu, unchanged in Johor and Kelantan

The Ministry of Energy Transition and Water Transformation (Petra) said it is open to exploring the use of new technologies for electricity generation to achieve the target of net zero carbon emissions as early as 2050.

Petra says ready to explore new technologies to generate electricity

<p>EXPECTATIONS have built up on the Employees Provident Fund (EPF) to not only beat last year’s payout but also declare a dividend of close to 6% for 2024. This follows three successive double-digit year-on-year percentage headline outperformance indicated in all three quarterly income reports rele...

EPF’s 2024 shariah dividend may exceed 6%, beat conventional savings

<p>SARAWAK is expected to announce by the end of the month plans for the development of a deep-sea port with liquefied natural gas (LNG) facilities. The port is estimated to cost between RM25 billion and RM30 billion and will be located off the coast of Kuching.&nbsp;</p>

<p>Currently, details ab...

Sarawak to unveil plans for a RM30 bil deep-sea port off the coast of Kuching

<p>Gamuda Bhd (KL:GAMUDA), whose share price has more than doubled year-to-date (YTD), is among companies analysts are expect to be included in the FTSE Bursa Malaysia KLCI following the index’s semi-annual review.</p>


<p>PUTRAJAYA (Nov 25): The Court of Appeal (COA) here on Monday allowed the liquidator of Crest Worldwide Resources Sdn Bhd to adduce fresh evidence in SKN Land &amp; Development Sdn Bhd’s (SKN L&amp;D) appeal against the High Court’s decision to dismiss an application to terminate Crest’s winding-u...

COA allows admission of RM525m property sale evidence in Crest winding-up termination appeal

<p>Shares of Mi Technovation Bhd (KL:MI) extended their rally into the third straight day on Monday, after the semiconductor company reported better-than-expected results.</p>


Mi Technovation shares extend rally as results beat estimates

<p>Malaysia's hiring outlook continues to see some mismatch in benefits expectations between organisations and professionals going into 2025, which forms roadblocks for&nbsp;organisations looking for the right talent, a survey showed.&nbsp;</p>


Talent search challenged by salary demand, rising competition in Malaysia, survey shows

<p>Hyundai Motor will open its first plant in Malaysia next year with an investment valued at RM2.16 billion.</p>

<p>Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said it will be the South Korean automaker’s largest investment in Malaysia and provide many job opportunities.</p>


Hyundai to invest RM2.16 bil to set up plant in Kulim

<p>IJM Corporation Bhd (KL:IJM) said it is buying a 50% stake in UK-based construction firm JRL Group Holdings Ltd for £50 million (RM283 million) to expand into the UK and strengthen its core construction capabilities.</p>


IJM Corp announces RM283m deal to buy 50% stake in UK-based JRL

<p>TMK Chemical Bhd, set to list on Bursa Malaysia's Main Market in December,&nbsp;plans to double its annual manufacturing capacity, with its second plant funded by the initial public offering (IPO) proceeds.</p>


TMK Chemical to double capacity with new plant funded by IPO proceeds

<p>Property developer S P Setia Bhd (KL:SPSETIA) reported a 93% year-on-year surge in its third-quarter net profit, driven by higher profit from land sales which&nbsp;offset losses from the Battersea Power Station project and lower contributions from its Australian operations.</p>


S P Setia posts 93% jump in 3Q profit on land sale boost, plans RM1.97b more launches by year end

<p>Radium Development Bhd (KL:RADIUM) said it is acquiring 13 acres of&nbsp; leasehold land in Cheras — which will be used for mixed development — for RM458 million.</p>


Radium Development buys 13-acre land in Cheras for RM458m

<p>RHB Bank Bhd (KL:RHBBANK) will be divesting its entire 99.95% stake in RHB Securities (Thailand) Public Company Ltd to Singapore-based stock brokerage firm Phillip Brokerage Pte Ltd for THB1,253.77 million (RM161.81 million), marking its exit from Thailand's stockbroking and securities market.</p>


RHB exits Thai securities market with RM161.81m divestment to Phillip Brokerage  

<p>Some 647.13 million shares in Affin Bank Bhd (KL:AFFIN) representing a 26.96% stake were traded off-market on Monday.</p>

<p><em>Bloomberg </em>data showed that the shares were sold in eight tranches for RM1.78 billion. The blocks of shares were transacted between RM2.46 and RM2.84 per share, representing a discount of between 17% and 4.05% over Affin Bank’s last closing price of RM2.96 in the open market on Monday.</p>


Affin Bank sees 27% stake traded at a discount in off-market deals valued at RM1.78 bil

<p>Parties will submit further on Wednesday (Nov 27) on whether former prime minister Datuk Seri Najib Razak and former Treasury secretary general Tan Sri Mohd Irwan Serigar Abdullah should be granted a discharge not amounting to an acquittal (DNAA) in their criminal trial regarding International Petroleum Investment Co (IPIC).</p>


Will Najib and Irwan get their IPIC-linked charges dropped? Lawyers to argue further on Wednesday

<p>Kitchen cabinet manufacturer Signature International Bhd (KL:SIGN) saw its net profit more than doubled to RM28.3 million for the third quarter ended Sept 30, 2024 (3QFY2024), from RM14.1 million a year earlier, thanks to higher profit margins from project revenue.</p>


Signature International's 3Q net profit doubles to RM28.3m, declares three sen dividend

<p>Petronas Dagangan Bhd's (KL:PETDAG)&nbsp;net profit jumped 81.4% year-on-year&nbsp;to RM335.13 million for the third quarter ended Sept 30, 2024 (3QFY2024), from RM184.72 million previously, on the back of strong margins supported by favourable price&nbsp;trends, coupled with a decrease in overall product costs due to lower purchase premium.</p>


PetDag's 3Q net profit jumps 81% on strong margins amid favourable MOPS price, pays 24 sen dividend

<p>Scott Bessent, the veteran hedge fund manager who Donald Trump picked to become the next Treasury secretary, wants tariffs, a shadow chair for the Federal Reserve and maybe a weaker dollar.</p>


Trump’s Treasury pick wants shadow Fed chair, maybe weak dollar

<p>The criminal appeal at the Court of Appeal for Muar Member of Parliament Syed Saddiq Syed Abdul Rahman is faced with another delay as the record of appeal, which contains the High Court judgement and is needed for the young politician’s defence team to prepare its grounds of appeal, is still not ready more than a year after his conviction.</p>


Record of appeal in Syed Saddiq's graft case still pending, will drag on to 2025

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<p>President-elect Donald Trump’s pick of Scott Bessent as the treasury secretary may give Beijing room to negotiate with the US over their trade tensions, in part due to Bessent's&nbsp;moderate stance on tariffs.</p>
