<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 27): Flat steel products manufacturer Astino Bhd (KL:<a href="/askedge/klse/7162" class="ce-stock" target="_blank">ASTINO</a>) reported that its net profit jumped 62.79% year-on-year due to an increase in sales and profit margin.</p></div>

<div class=newsTextDataWrapInner><p>Net profit rose to RM8.71 million for the fourth quarter ended July 31, 2024 (4QFY2024), from RM5.35 million in 4QFY2023, its bourse filing showed. Revenue climbed 4.59% to RM158.33 million from RM151.38 million, as local demand grew.</p></div>

<div class=newsTextDataWrapInner><p>Earnings per share rose to 1.80 sen from 1.09 sen. Astino proposed a final dividend of one sen per share, subject to shareholders' approval.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Astino said volatile steel prices and currency fluctuations have created uncertainty in its pricing policies. "To address this, we will continue to closely monitor the changes in steel price in order to ensure that our pricing strategy protects both our profit margins and maintains competitiveness," it said.</p></div>

<div class=newsTextDataWrapInner><p>The group's net profit for its full FY2024 rose 30.97% to RM37.11 million from RM28.33 million in FY2023, supported by higher local sales and improved profit margins. Revenue rose to RM628.77 million from RM618.70 million.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Astino closed half a sen higher at 63 sen on Friday, giving the company a market capitalisation of RM308.38 million. Year to date, the stock has gained 16.67%.</p></div>


Flat steel products manufacturer Astino Bhd (KL:ASTINO) reported that its net profit jumped 62.79% year-on-year due to an increase in sales and profit margin.

Steel products maker Astino reports 63% jump in quarterly profit on stronger sales, profit margin

BlackRock Inc is set to become the largest shareholder in SellerX as part of a deal to slash the former unicorn’s debt load, according to people familiar with the matter.
  
BlackRock, an existing lender to the Berlin-based firm, will take a stake in the business as part of a debt-for-equity swap and refinancing, the people said, asking not to be named discussing private information.

BlackRock to be biggest shareholder in SellerX after debt deal

Tanco Holdings Bhd (KL:TANCO) said its 79%-owned subsidiary, Midports Holdings Sdn Bhd (MHSB), had received the nod from the Malaysian Marine Department (MMD) to develop a container port in Port Dickson, Negeri Sembilan.

Tanco gets unconditional nod from Marine Dept to develop container port in Port Dickson

CVS Health Corp is conducting a strategic review of options including a possible breakup, according to a person familiar with the matter, as the company faces headwinds from its drugstore chain and Aetna health insurance arm.

CVS conducting strategic review, considering breakup

Manufacturing and construction firm Central Global Bhd (KL:CGB) is acquiring a four-storey office and showroom space, measuring approximately 48,690 sq ft, in Kota Kinabalu, Sabah, for RM19.5 million.

Central Global acquires office space for RM19.5 mil

CIMB Group Holdings Bhd (KL:CIMB), Malaysia's second-largest bank by assets, announced on Tuesday its commitment to extend RM1.5 billion in financing to small and medium enterprises (SMEs) in partnership with Credit Guarantee Corp Malaysia Bhd (CGC).

CIMB teams up with CGC to allocate additional RM1.5b for SME financing

If there were any illegalities concerning the funds that flowed into former prime minister Datuk Seri Najib Razak's accounts, it was feasible for him to expect the relevant authorities to alert him or take necessary action. However, this did not transpire, the High Court heard on Tuesday.

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A summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.

FBM KLCI up 0.45% to 1,656.39 on Oct 1, 2024

Taiwan authorities completed the dramatic helicopter rescue of 19 crew members on a stricken ship, which foundered as Super Typhoon Krathon brings strong winds and heavy rains to the island.

Taiwan rescues all on stricken ship as super typhoon approaches

The future of financial technology in Malaysia will be shaped by supply and demand, increased options of technologies in driving new business models, and key technologies that have emerged and are still emerging, said Bank Negara Malaysia (BNM) assistant governor Suhaimi Ali.

Supply and demand to shape future of Malaysian fintech — BNM 

Thai Beverage PCL is reviving plans for an initial public offering (IPO) of its beer unit to take advantage of a rally in global stock markets, besides weighing the induction of an equity partner, according to company executives.

ThaiBev revives IPO plan for beer unit, eyes potential partners

<p>Bank Negara Malaysia (BNM) had, on Sept 3, imposed an Administrative Monetary Penalty (AMP) of RM660,000 on Bank Pertanian Malaysia Berhad (Agrobank) for non-compliance with the Development Financial Institutions Act 2002, according to a statement on Tuesday.</p>


BNM imposes penalty on Agrobank for non-compliance with the Development Financial Institutions Act 2002

<p>The Malaysian ringgit fell more than 1% on Tuesday as emerging Asian currencies lost ground against a stronger dollar after Federal Reserve chair Jerome Powell signalled that another outsized interest rate cut was unlikely in November.</p>


Asian FX weakens against sturdy dollar, ringgit down more than 1%

<p>Shares of Dagang NeXchange Bhd (KL:DNEX) surged on Tuesday to their highest in more than a month after the company announced its partnership with Google to provide cloud services in Malaysia.</p>


DNeX shares surge 16% on cloud services partnership with Google

<p>Google said on Tuesday its investments in Malaysia would create 26,500 jobs and contribute more than US$3 billion (RM12.4 billion) to its economy by 2030, as it announced its new data centre and Cloud region there had broken ground.</p>


Google says Malaysia investments to add US$3b to its GDP by 2030, create 26,500 jobs

<p>The US National Transportation Safety Board said on Monday more than 40 foreign operators of Boeing 737 airplanes may be using planes with rudder components that could pose safety risks.</p>


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<p>Malaysia plans to create a national cloud policy and introduce regulations to encourage the ethical use of artificial intelligence (AI), Prime Minister Datuk Seri Anwar Ibrahim said on Tuesday.</p>


Anwar: Malaysia planning national cloud policy, AI regulations 

<p>The Armed Forces Fund Board (LTAT) has announced Ahmad Farouk Mohamed, a former executive of Malaysian Industrial Development Finance Bhd, as its new chief investment officer.</p>


LTAT names ex-MIDF executive Ahmad Farouk Mohamed as chief investment officer

<p>The Malaysian bourse is mulling a plan to improve valuations of local companies as it seeks to lure global investors amid similar programs from regional peers.</p>


Bursa Malaysia eyes value-boosting plans to lure stock traders

<p><em>The Edge Malaysia</em>’s only agenda is to serve the truth and to earn the readers’ trust, said its chairman and owner Tan Sri Tong Kooi Ong, reinforcing that the publication has no political or personal agenda.</p>


The Edge’s only agenda is to serve the truth, says chairman Tong as publication unveils book on 30-year journey

<p>The Credit Counselling and Debt Management Agency (AKPK) reported that 53,000 individuals under 30 are burdened by nearly RM1.9 billion in cumulative debt.</p>


BNPL prevalence among young adults, low level of financial literacy worrying — Amir Hamzah 

<p>Malaysia's manufacturing sector conditions eased further in September as productions moderated with tepid new order growth, S&amp;P Global said on Tuesday.</p>


Malaysia's manufacturing activity eases further in Sept, PMI data show 

<p>Dockworkers have walked out of every major port on the US East and Gulf coasts, marking the beginning of a strike that could ripple through the world’s largest economy and cause political turmoil just weeks before the presidential election.</p>


Strike shuts US East Coast, Gulf ports, threatening economy

<p>The trial judge in Datuk Seri Najib Razak’s 1Malaysia Development Bhd (1MDB) case on Tuesday questioned the defence team about the distinction between the former prime minister’s personal expenses and those for political purposes.</p>


Judge questions Najib's counsel on distinction between personal and political spending

<p>Shares in Astro Malaysia Holdings Bhd (KL:ASTRO) rose on Tuesday to a two-month high after the pay-television operator reported a jump in quarterly net profit.</p>


Astro Malaysia tests two-month high after jump in quarterly profit

<p>OCBC has appointed George Lee Lap Wah as chairman of OCBC Bank (Malaysia) Bhd (OCBC Bank) and OCBC Al-Amin Bank Berhad (OCBC Al-Amin), taking over from Tan Ngiap Joo.</p>


Lee Lap Wah is new OCBC, OCBC Al-Amin Bank chairman

<p>Kenanga Research expects more engineering, procurement, construction and commissioning (EPCC) contracts for renewable energy to be awarded as early as this month with a completion deadline by the end of 2025.</p>


Kenanga: Significant EPCC contracts for CGPP and LSS5 soon

<p>Companies and governments across the globe are flooding debt markets with bonds and loans, borrowing money as yields fall and the US presidential election nears.</p>


Borrowers smash global records to sell US$600b in debt

<p>The Sultan of Selangor, Sultan Sharafuddin Idris Shah, has lauded <em>The Edge Malaysia</em> for its significant contribution to the Malaysian media landscape over the past three decades.</p>


Selangor Sultan commends The Edge Malaysia for 30 years of quality journalism

<p>SRC International Sdn Bhd and its wholly owned subsidiaries, Gandingan Mentari Sdn Bhd and Jendela Pinggiran Sdn Bhd, on Monday settled their RM167.01 million suit against Ihsan Perdana Sdn Bhd (IPSB) and two former directors of the company&nbsp;— Datuk Abdul Aziz Ismail and Datuk Dr Shamsul Anwar Sulaiman&nbsp;—&nbsp;by filing a notice of discontinuance.</p>


SRC settles RM167m suit with Ihsan Perdana and former directors

<p>Malaysia's low-wage structure is a significant factor behind the Employees Provident Fund's (EPF) inadequate savings.</p>

<p>EPF chairman Tan Sri Mohd Zuki Ali said irregular contributions, particularly among those in informal or gig economy roles, have exacerbated the situation.</p>
