<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 22): Focus Point Holdings Bhd (KL:<a href="/askedge/klse/0157" class="ce-stock" target="_blank">FOCUSP</a>) has posted a 16.5% increase in second quarter net profit to RM8.43 million from RM7.24 million a year ago, underpinned by higher revenue in its optical business and profitability turnaround in its food &amp; beverage (F&amp;B) segment.</p></div>

<div class=newsTextDataWrapInner><p>Revenue for the second quarter ended June 30, 2024 (2QFY2024) rose 12.1% year-on-year to RM70.61 million from RM62.99 million, the group said in a bourse filing on Thursday.</p></div>

<div class=newsTextDataWrapInner><p>For the first half of FY2024, total net profit grew 19.4% year-on-year to RM15.85 million, while its revenue rose 13.2% to RM138.91 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Focus Point said it will continue to leverage and strengthen its market leader position in the optical business through the opening of new outlets.</p></div>

<div class=newsTextDataWrapInner><p>As for its F&amp;B business, the group said it will continue to enhance operational efficiency and cost-effectiveness, and at the same time introduce more products to serve both retail and corporate customers.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Focus Point settled unchanged at 80 sen, giving the group a market capitalisation of RM369 million. Year-to-date, the stock is up 15.4%.</p></div>


Focus Point Holdings Bhd (KL:FOCUSP) has posted a 16.5% increase in second quarter net profit to RM8.43 million from RM7.24 million a year ago, underpinned by higher revenue in its optical business and profitability turnaround in its food & beverage (F&B) segment.

Focus Point 2Q profit rises on higher optical revenue, turnaround in F&B segment

India removed restrictions on shipments of non-basmati parboiled rice, a move that’s likely to boost the nation’s competitive edge in the world market and boost earnings of local farmers during the current harvesting season.

India scraps tax on some rice exports to boost competitiveness

Japan’s 40-year government bond yield climbed to its highest level in 16 years amid growing speculation that the nation’s central bank will push ahead with interest rate increases in coming months.

Japan’s 40-year yield rises to highest since 2008 on BOJ outlook

Tokyo Metro saw its stock untraded on its Tokyo market debut on Wednesday with a glut of buy orders in early trade.

Tokyo Metro, one of the capital's two major subway operators, raised US$2.3 billion (RM9.97 billion) after pricing its initial public offering at the top of an indicative range at ¥1,200 (RM34.36) apiece.

Tokyo Metro shares untraded on market debut

The institutional reform agenda, the construction of a new nuclear reactor and the misappropriation of subsidised diesel in the country will be among the matters discussed in the Dewan Rakyat on Wednesday.

Institutional reform agenda among highlights of Parliament on Wednesday

MORNING CALL: 23/10/24

Top financial regulators around the globe are voicing concern about private credit valuations, whether lenders are hiding troubled loans, and the deep entanglement between private markets and insurance money. 

“Valuation risks are where we see a core issue,” Andrew Dean, the co-chief of the Division of Enforcement Asset Management at the US Securities and Exchange Commission, said.

Top regulators call out valuation risks in private credit

Bonds maintained losses and US stocks struggled as traders mulled prospects for a slower pace of Federal Reserve rate cuts. Asian shares looked set for a mixed open.

Treasuries hold losses following global selloff

In April, sovereign fund Khazanah Nasional Bhd announced RM1 billion in ‘national fund-of-funds’ initiatives at the KL20 Summit to support local venture capital funds and attract international managers. With the increased interest from both domestic and foreign investors in Malaysia’s start-up ecosystem, a crucial question arises: Are there enough investment- or IPO-ready private companies in the country?

Are Malaysian private companies investment-ready?

The International Monetary Fund (IMF) said the US election is creating “high uncertainty” for markets and policymakers, given the sharply divergent trade priorities of the candidates.

US election creates ‘high uncertainty’ for fragile markets, IMF says

Stocks struggled in late hours after downbeat news from some key American companies, with traders also mulling prospects for a slower pace of Federal Reserve rate cuts.

A US$600 billion exchange-traded fund tracking the S&P 500 (SPY) wavered after the close of regular trading.

Stocks struggle in late hours as McDonald’s slumps

<p>Globetronics Technology Bhd (KL:GTRONIC) said its chief executive officer (CEO) Heng Charng Yee and executive director Kang Wei Luen have resigned from their positions.</p>

<p>Both of them cited personal matters and other commitment as the reason for the resignation, according to the group's filings with Bursa Malaysia on Tuesday.</p>


Globetronics announces resignation of CEO, executive director

<p>Taiwan Semiconductor Manufacturing Company notified the US a couple of weeks ago that one of its chips had been found in a Huawei device after a teardown by the tech research firm TechInsights, according to a person familiar with the matter.</p>


TSMC told US of chip in Huawei device after TechInsights finding — Reuters 

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


Gamuda, Bahvest, Globetronics, Teo Seng, Green Ocean, Ge-Shen

<p>US stock indexes sagged on Tuesday as rising treasury yields impacted rate-sensitive sectors, while investors evaluated earnings to assess the health of American companies.</p>


Wall Street tumbles as yields jump; Verizon slides

<p>A Member of Parliament (MP) called on the government to clarify its proposal for compulsory Employees Provident Fund (EPF) contribution by foreign workers as announced in Budget 2025.</p>


MP asks govt to clarify mandatory foreign worker EPF contribution proposal 

<p>Chinese President Xi Jinping told Russia's Vladimir Putin that the international situation was gripped by chaos but that Beijing's strategic partnership with Moscow was a force for stability amid the most significant changes seen in a century.</p>


Xi tells Putin the world is in chaos but friendship with Russia will endure

<p>In April, sovereign fund Khazanah Nasional Bhd announced RM1 billion in ‘national fund-of-funds’ initiatives at the KL20 Summit to support local venture capital funds and attract international managers. With the increased interest from both domestic and foreign investors in Malaysia’s start-up ecosystem, a crucial question arises: Are there enough investment- or IPO-ready private companies in the country?</p>


<p>Stocks struggled in late hours after downbeat news from some key American companies, with traders also mulling prospects for a slower pace of Federal Reserve rate cuts.</p>

<p>A US$600 billion exchange-traded fund tracking the S&amp;P 500 (SPY) wavered after the close of regular trading.</p>


<p>Near-term global financial risks are contained, but monetary policy easing could fuel asset price bubbles and markets might be underestimating risks posed by military conflicts and impending elections, the International Monetary Fund said on Tuesday.</p>


Global markets might be underestimating geopolitical risks, IMF says

<p>Willowglen MSC Bhd (KL:WILLOW) said on Tuesday that it has been awarded a RM16.43 million contract to supply security systems in Singapore.</p>


Willowglen MSC wins RM16.4m security systems contract in Singapore

<p>The International Monetary Fund (IMF) said the US election is creating “high uncertainty” for markets and policymakers, given the sharply divergent trade priorities of the candidates.</p>


<p>Bonds maintained losses and US stocks struggled as traders mulled prospects for a slower pace of Federal Reserve rate cuts. Asian shares looked set for a mixed open.&nbsp;</p>


<p>&nbsp;Top financial regulators around the globe are voicing concern about private credit valuations, whether lenders are hiding troubled loans, and the deep entanglement between private markets and insurance money.&nbsp;</p>

<p>“Valuation risks are where we see a core issue,” Andrew Dean, the co-chief of the Division of Enforcement Asset Management at the US Securities and Exchange Commission, said.</p>


<p>Options traders are increasing bets that Bitcoin will reach a record high of US$80,000 (RM344,025) by the end of November no matter who wins the US presidential election.<br />
&nbsp;&nbsp;<br />
The implied volatility for Bitcoin options coming due around the Nov 5 election day is elevated, with the wagers skewed towards call options that give the buyer the right to buy the cryptocurrency at new highs.&nbsp;</p>


Bitcoin options traders are betting on US$80,000 no matter who wins US election

<p>Starboard Value LP chief executive officer Jeffrey Smith said there has been at least US$20 billion (RM86 billion) in value destruction at drugmaker Pfizer Inc, which he admonished for failing to deliver on a pipeline of new potential blockbusters.</p>


Starboard scolds Pfizer over US$20 bil value destruction

<p>The direction of European Central Bank (ECB) borrowing costs is clear but the pace at which they’ll be lowered is still to be decided, according to president Christine Lagarde, who didn’t rule out bigger moves.</p>


Lagarde sees clear direction for ECB rates, pace to be decided

<p>Pacific Investment Management Co (Pimco), one of the world’s largest asset managers, says investors have misplayed emerging markets by focusing too heavily on risky bonds.&nbsp;</p>


Pimco says favouring world’s riskiest bonds is a loser’s game

<p>The FBI is investigating the public disclosure of a pair of highly classified intelligence documents describing Israel's preparations for a retaliatory strike on Iran, the bureau said on Tuesday.</p>


FBI probing leak of US intel on Israel's attack plans for Iran

<p>Shell said on Tuesday that most of the oil leak from a land-based pipeline at Shell Energy and Chemicals Park Singapore on Bukom island had been cleaned up, with only small patches of light sheens around the island and Bukom Kechil remaining.</p>


Shell says most oil around Bukom, Singapore cleaned up after leak

<p>The institutional reform agenda, the construction of a new nuclear reactor and the misappropriation of subsidised diesel in the country will be among the matters discussed in the Dewan Rakyat on Wednesday.</p>
