BIMB maintains its buy call on Infomina despite slightly softer 1Q.</div><div class=inPageAd id=div-gpt-ad-inpage>

MORNING CALL: 17/10/24

The Council of Palm Oil Producing Countries (CPOPC) has welcomed Papua New Guinea as its fourth member country, according to a statement from the CPOPC.

The handover of the accession instrument in a hybrid landmark ceremony held at the secretariat of the council in Jakarta, Indonesia, marks the completion of the formal application process which was submitted on Oct 27, 2020.

CPOPC welcomes Papua New Guinea as its fourth member country

The KLCC Light Rail Transit (LRT) Station, temporarily closed after a small fire, has reopened to passengers and resumed operations at 5.52pm on Thursday.

KLCC LRT Station reopens after small fire

Senai Airport City Sdn Bhd and Lincotec Technology (Malaysia) Sdn Bhd, a wholly-owned subsidiary of Taiwan’s Linco Technology Co Ltd, have entered into a sale and purchase agreement for Lincotec to acquire 4.02 hectares (9.93 acres) of industrial land.

Taiwan's Linco Technology acquires Senai Airport City land

The developer of the water retention pond next to the Taman Seri Alam, Saujana Utama, residential area is considering offering ex-gratia (goodwill) compensation to residents affected by the collapse of the bund last Saturday.

Developer mulls compensation for Taman Seri Alam residents over collapse of bund 

The introduction of the Quick Response (QR) code system at Kuala Lumpur International Airport (KLIA) for autogate clearance will not compromise security, particularly with regards to the entry of foreign nationals into Malaysia.

New QR code system boosts efficiency without compromising security — Immigration Dept

Velocity Capital Partner Bhd (KL:VELOCITY) sees the emergence of a new majority shareholder yet again.

Velocity Capital sees emergence of single largest shareholder

German power prices dropped below zero on the first trading day of the year, an increasingly frequent phenomenon in Europe as renewables expand.

Intraday prices in Germany, the region’s biggest market, turned negative during four hours overnight as wind-energy output reached as much as 40 gigawatts, far outstripping demand.

German power slips below zero as negative-price phenomenon grows

Two senior executives at Malaysia Aviation Group Bhd (MAG), the parent company of national carrier Malaysia Airlines Bhd, have resigned in a surprise move, sources told The Edge.

Malaysia Aviation Group to see departure of two senior executives

Five-time Olympic champion Hungarian gymnast Agnes Keleti, the world's oldest living Olympic gold medallist and a survivor of the persecution of Jews in World War Two, died at the age of 103 on Thursday, the Hungarian Olympic Committee (HOC) said.

World's oldest living Olympic gold medallist Agnes Keleti dies at 103

The dollar hit new multi-month highs against the euro and the pound on Thursday, the first day of 2025 trading, as it built on last year's strong gains on expectations US interest rates will remain high relative to peers.

Dollar resumes upward trend, euro hits lowest since November 2022

Petronas Chemicals Group Bhd (KL:PCG) may further write down the value of its assets while losses could balloon at one of its key subsidiaries, CGS International warned as it downgraded the stock.

Petronas Chemicals stares at downside; Lotte Chemical in survival mode — CGS

KUALA LUMPUR (Jan 2): Investment analysts have maintained a positive outlook on the banking industry, with at least one increasing its earnings forecast on stronger operating income and improved credit costs.

Analysts positive on banking sector in 2025; AMMB and CIMB are top picks

The Malaysian ringgit will strengthen further this year, supported by moderate global growth, stable oil prices and strong export demand, according to KSI Strategic Institute for Asia Pacific.

Ringgit to strengthen further this year after breakout in 2024 — think tank

Two senior executives at Malaysia Aviation Group Bhd (MAG), the parent company of national carrier Malaysia Airlines Bhd, have resigned in a surprise move, sources told The Edge.

KUALA LUMPUR (Jan 2): Sunway Real Estate Investment Trust (KL:SUNREIT) said on Thursday that it has completed the acquisition of Kluang Mall in Johor for RM158 million.

Sunway REIT completes Kluang Mall acquisition

KUALA LUMPUR (Jan 2): Etiqa Life Insurance Bhd, the insurance arm of Malayan Banking Bhd (KL:MAYBANK), has appointed insider Leong Su Yern as its chief executive officer effective immediately.

Etiqa Life Insurance promotes insider Leong Su Yern as CEO

The High Court here has allowed an ad interim stay on a RM415.5 million fine imposed by the Malaysia Competition Commission (MyCC) on five feedmillers pending filing of affidavits and submissions in relation to its judicial review against the fine.

Judge Datuk Amarjeet Singh Serjit Singh gave the ad interim stay as lawyer for MyCC, Jason Teoh from Jason Teoh &amp; Partners, had said that they would submit an affidavit to show that the fine the five feedmillers are required to pay will not affect the poultry industry as they claim.

High court grants feedmillers temporary stay of RM415.5 mil fine imposed by MyCC

Investors are expected to take a more cautious approach in the local stock market, focusing on earnings and clear outlooks amidst anticipated market volatility in 2025.

Analysts expect investors to adopt more cautious stance, focus on earnings and outlook visibility

The Road Transport Department (JPJ) is offering a special flat-rate compound fee of RM150 for three types of offences over a six-month period starting Friday, said Transport Minister Anthony Loke.

He said the special compound payment covers certain types of JPJ summons notices, namely Summons 53A (AwAS Summons) for speeding violations or running red lights captured by the AwAS camera system, Notice 114 (Interview Notice) and Notice 115 (Sticker Summons Notice by JPJ).

JPJ offers RM150 flat-rate compound for three offences starting Friday

Indonesia has yet to implement a higher mandatory blend of biodiesel planned for Jan 1 as industry participants await technical details of the new regulation, causing confusion among palm oil traders.

Indonesia's palm oil B40 delay causes market uncertainties

Malaysia’s renewable energy sector is gearing up for strong growth ahead in 2025, buoyed by key initiatives under the National Energy Transition Roadmap (NETR), said Apex Securities.

In a research note on Thursday, among the key initiatives are the 800MW Corporate Green Power Programme (CGPP) and the 2GW Large-Scale Solar 5 (LSS5), which are anticipated to unlock RM7.2 billion worth of engineering, procurement, construction, and commissioning (EPCC) projects.

Renewable energy sector braces for strong growth in 2025 — Apex Securities

Factory activity across much of Asia expanded in December as domestic orders and output improved, but weaker confidence and a sustained drop in export orders point to global risks ahead.

Asian factories eke out growth in 2024 as Trump tariffs loom

KUALA LUMPUR (Jan 2): Cypark Resources Bhd (KL:CYPARK) is expected to stay in red with a larger than previously expected core net loss for the current financial year, before a turnaround for the renewable energy company, analysts said.

Cypark Resources to stay in red before rebound in FY2026

Maybank Investment Bank Bhd (Maybank IB) expects crude palm oil (CPO) average selling prices (ASP) to range between RM4,500 and RM5,000 per tonne in the first quarter of 2025 (1Q 2025).

In a note on Thursday, Maybank IB expressed optimism about CPO prices in 1Q 2025, citing strong demand driven by the early Chinese New Year (CNY) at the end of January 2025 and the onset of Ramadan in March.

Maybank IB: CPO prices seen at RM4,500–RM5,000 in 1Q 2025

Chinese government hackers breached the US Treasury office that administers economic sanctions, the Washington Post reported on Wednesday, identifying targets of a cyberattack Treasury disclosed earlier this week.

Chinese hack of US Treasury breached sanctions office — report

KUALA LUMPUR (Jan 2): <a href="https://theedgemalaysia.com/" target="_blank">theedgemalaysia.com</a> highlighted six stocks with momentum at Bursa Malaysia’s afternoon close on Thursday. Two stocks showed positive momentum and four stocks showed negative momentum.

Stocks with momentum on Jan 2, 2025: Wellcall, Central Global, XOX, Meridian, BIG Industries, Xin Synergy

Eastern Pacific Industrial Corp Bhd (EPIC), a Terengganu government-linked company, on Thursday said it has secured a contract to provide pan Malaysia services to national oil-and-gas company Petronas.

Terengganu-backed EPIC bags contract for pan-Malaysia services

Rolex SA, the biggest luxury Swiss watch brand, raised prices on some of its most popular models after gold values surged in 2024. 
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The Geneva-based company, controlled by a Swiss foundation named for its co-founder Hans Wilsdorf, began the year by hiking prices as much as 8% on some models made from precious metals.

Rolex kicks off 2025 by increasing watch prices after gold soars

South Korean police said on Thursday they had raided Jeju Air and the operator of Muan International Airport as part of their investigation into Sunday's crash that killed 179 people in the worst aviation disaster on the country's soil.

South Korea police search Jeju Air, airport operator over fatal plane crash

Most Asian stock markets started the year on the back foot on Thursday, as investors braced for US President-elect Donald Trump's return to the White House and the prospect of US interest rates staying higher for longer.