<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 15): Petra Energy Bhd (KL:<a href="/askedge/klse/5133" class="ce-stock" target="_blank">PENERGY</a>) has secured a four-year contract from Sarawak Shell Bhd and Sabah Shell Petroleum Company Ltd for the provision of offshore crane operations and maintenance services.</p></div>

<div class=newsTextDataWrapInner><p>No fixed value was stated in the letter of award to its subsidiary Petra Resources Sdn Bhd, Petra Energy said in a bourse filing on Friday.</p></div>

<div class=newsTextDataWrapInner><p>The company expects the award to contribute positively to its earnings and net assets during the tenure of the contract.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Petra Energy provides fabrication, engineering, operations, and maintenance services for the upstream oil and gas industry, as well as project management services and rotating and mechanical equipment packages.</p></div>

<div class=newsTextDataWrapInner><p>Petra Energy shares closed down one sen or 0.8% at RM1.28 with a market capitalisation of RM412 million.</p></div>


Petra Energy Bhd (KL:PENERGY) has secured a four-year contract from Sarawak Shell Bhd and Sabah Shell Petroleum Company Ltd for the provision of offshore crane operations and maintenance services.

Petra Energy bags offshore crane operation contract from Shell

SINGAPORE (March 18): Home-grown electronics firm Creative Technology has retrenched about 40 staff, or 14 per cent of its workforce, as the tech layoff wave continues its rampage, The Straits Times has learnt.

Confirming the layoffs, a company spokesman said: “Creative Te...

Creative Technology cuts workforce, adding to global wave of tech layoffs - report

(March 18): Pacific Investment Management Co. is increasingly negative on the outlook for German government bonds as the country edges close to a crucial pivot toward more public spending.

Sachin Gupta, a fund manager at the firm, has added to an underweight position in bunds, poin...

Pimco turns more negative on German bonds ahead of debt vote

BERLIN (March 18): Volkswagen's Audi will cut up to 7,500 jobs in Germany by 2029 in areas like administration and development, the premium carmaker said on Monday, the latest German auto industry player to reduce costs.

The planned measures, agreed on Monday by management and labour re...

Volkswagen's Audi to cut 7,500 jobs in administration, development by 2029

Asia Poly Holdings Bhd (KL:ASIAPLY) has ceased to be a substantial shareholder in Ta Win Holdings Bhd (KL:TAWIN) after disposing of its entire 5.59% stake in the copper wire manufacturer  via a direct business transaction.

Asia Poly disposes of entire stake in Ta Win

President Donald Trump's tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the OECD forecast on Monday, just as Trump promised to press ahead with a new wave of levies in early April.

OECD warns of tariff drag on growth as Trump vows to press on with levies

Here is a brief recap of some business news and corporate announcement that made the headlines on Monday.

MRCB, Sapura Energy, Solarvest, Salcon, Rohas Tecnic, HHRG, Jentayu, Focus Point, Catcha Digital, Poh Huat, Dutch Lady, AmanahRaya REIT

Top Philippine mobile wallet GCash could aim for at least US$8 billion (RM35.6 billion) in valuation when it goes public as soon as this year, its chairman said, as it urges regulators to ease rules to make way for its big listing.

Philippines’ GCash to seek at least US$8b IPO valuation 

US homebuilder sentiment dropped to a seven-month low in March as tariffs on imported materials raised construction costs, a survey showed on Monday.

US homebuilder sentiment drops to seven-month low in March

The Trump administration Monday insisted it had not violated a court order by expelling hundreds of alleged members of Venezuela’s Tren de Aragua gang to El Salvador for imprisonment, even as a federal judge ordered a halt to some deportations.

Trump expels hundreds under Enemies Act as court rebukes law

PepsiCo said on Monday it would buy prebiotic soda brand Poppi for US$1.95 billion (RM8.7 billion), expanding in the "healthier soda" category at a time when the company is battling falling demand for its traditional beverages and snacks.

PepsiCo to buy prebiotic soda brand Poppi for nearly US$2b

<p>Malaysian Resources Corp Bhd (KL:MRCB) has struck a land swap deal with Cyberview Sdn Bhd, in which the Minister of Finance Inc owns a 92.24% stake.</p>


MRCB strikes land deals with MOF unit 

<p>BYD Co unveiled a new system for electric cars that the Chinese automaker says will allow them to charge almost as fast as it takes a regular car to refuel.</p>


BYD unveils battery system that charges an EV in five minutes

<p>Sapura Energy Bhd (KL:SAPNRG) on Monday said it has not been contacted by the Malaysian Anti-Corruption Commission (MACC) regarding a probe into alleged bribery and fund misappropriation involving the company.</p>


Sapura Energy says has not been contacted by MACC over bribery, fund misappropriation probe

<p>Intel's incoming CEO Lip-Bu Tan has considered significant changes to its chip manufacturing methods and artificial intelligence strategies ahead of his return to the company on Tuesday, two people familiar with Tan's thinking told <em>Reuters</em>, in a sweeping bid to revive the ailing technology giant.</p>


Intel's new CEO plots overhaul of manufacturing and AI operations — Reuters

<p>Solarvest Holdings Bhd (KL:SLVEST) has secured a RM401 million engineering, procurement, construction and commissioning (EPCC) contract for Tenaga Nasional Bhd’s (KL:TENAGA) 500MW solar farm in Bukit Selembau, Kedah.</p>


Solarvest bags RM401m contract to build TNB’s 500MW solar farm in Kedah

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Is Trump economically clueless and stupid? Tong's Portfolio does not think so.

<p>One of the 25 Malaysians rescued from a job scam syndicate in Myanmar on March 12 was arrested after police investigations revealed that he played a role in recruiting locals with the intention of scamming for big bucks.</p>


Police grill Malaysian who head-hunted for Myanmar syndicate, say not all rescued are genuine victims

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


<p>Dutch Lady Milk Industries Bhd (KL:DLADY), a dairy company under FrieslandCampina, has named Veronika Winanti Wahyu Utami as its new managing director, effective from April 15, 2025.&nbsp;</p>


Dutch Lady names Utami as managing director

<p>The Malaysian Anti-Corruption Commission (MACC) has given its assurance and commitment to look into any information linked to the investigation into former prime minister Datuk Seri Ismail Sabri Yaakob.</p>


MACC chief says Ismail Sabri has a lot to answer to, vows thorough probe

<p>Total assets of&nbsp;1Malaysia Development Bhd (1MDB) recovered so far stand&nbsp;at RM29.75 billion, or 70% of about RM42 billion believed to have been embezzled, the Malaysian Anti-Corruption Commission (MACC) said.</p>


Over RM29b in 1MDB assets recovered, says MACC

<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Monday.</p>


FBM KLCI up 1.04% to 1,527.81 on March 17, 2025 

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Not to be missed in the latest Edge Malaysia Weekly

<p>Hong Kong-based conglomerate CK Hutchison, which is facing pressure from Beijing authorities over a port deal with a BlackRock-led consortium, will not hold earnings conferences this week, two sources with knowledge of the matter said.</p>


CK Hutchison will not hold earnings calls following port deal criticism

<p>President Donald Trump's tariff hikes will drag down growth in Canada, Mexico and the United States while driving up inflation, the OECD forecast on Monday, just as Trump promised to press ahead with a new wave of levies in early April.</p>


<p>Catcha Digital Bhd (KL:CATCHA) has finalised the acquisition of a 51% stake in DS Services Sdn Bhd (Digital Symphony) for RM22.95 million cash, after more than two years of negotiations.</p>


Catcha Digital buys 51% stake in digital marketing company for RM22.95m

<p>Puspakom&nbsp;chief executive officer&nbsp;Mahmood Razak Bahman&nbsp;revealed that intermediaries, or ‘runners’,&nbsp;are making profits of up to RM750 by selling appointment slots at the Computerised Vehicle Inspection Centre.</p>


Puspakom CEO says intermediaries sold appointment slots, profiting up to RM750 per slot

<p>TT Vision Holdings Bhd (KL:TTVHB) said an article in a news portal on March 14 regarding a memorandum of understanding (MOU) the company had signed with Wawasan Open University (WOU) could have contributed to the sharp rise in its share price that day.</p>


TT Vision refers to MOU with Wawasan Open University in response to UMA query

<p>Jentayu Sustainables Bhd (KL:JSB) said the group has aborted its acquisition of hydro assets in Sabah, more than three years after the deals were inked in September 2021.</p>


Jentayu Sustainables’ Sabah hydro asset acquisitions mutually terminated

<p>Focus Point Holdings Bhd (KL:FOCUSP) has proposed a one-for-three bonus issue, alongside a dividend reinvestment plan (DRP) and a share grant plan (SGP), aimed at enhancing shareholder value and incentivising employees.</p>
