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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: Shake-up at Sapura Energy, chairman and group CEO step down</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
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<div class=newsTextDataWrapInner><p>Here’s a quick look at some of the stories that made headlines today.</p></div>

<div class=newsTextDataWrapInner><p>Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.</p></div>

<div class=newsTextDataWrapInner><p>1. Sapura Energy Bhd announced on Friday the impending <a href="https://theedgemalaysia.com/node/736005" target="_blank">departure </a>of its chairman Datuk Mohammad Azlan Abdullah and chief executive officer Datuk Mohd Anuar Taib.</p></div>

<div class=newsTextDataWrapInner><p>2. Public Bank Bhd, Malaysia’s third-largest bank by assets, saw its net profit <a href="https://theedgemalaysia.com/node/735969" target="_blank">improve </a>by 12% in the third quarter from a year earlier, thanks to operating income growth.</p></div>

<div class=newsTextDataWrapInner><p>3. RHB Bank Bhd announced that its third-quarter net profit grew 28% from a year earlier, as sharp currency gains <a href="https://theedgemalaysia.com/node/735970" target="_blank">boosted </a>non-interest income.</p></div>

<div class=newsTextDataWrapInner><p>4. Hextar Industries Bhd has signed an agreement to bring in Chinese coffee house chain<a href="https://theedgemalaysia.com/node/735986" target="_blank"> Luckin Coffee</a> to Malaysian shores.</p></div>

<div class=newsTextDataWrapInner><p>5. &nbsp;Padini Holdings Bhd warned that the retail business remains <a href="https://theedgemalaysia.com/node/736056" target="_blank">tough </a>amid rising cost of living, after the apparel company reported a sharp drop in profits.</p></div>

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EVENING 5: Five things you need to know today

Treasury Secretary Scott Bessent said that the underlying economy is healthy and there’s no reason for the US to see a recession, while rejecting the idea of assuring there cannot be a downturn.

Bessent sees no reason for recession, economic data ‘healthy’

Tencent Music Entertainment Group's revenue rose 8.2% in the fourth quarter, as China's biggest music streaming company registered its second straight quarter of growth after a year-long slowdown.

Tencent Music quarterly revenue climbs 8% on stronger streaming demand

Alphabet said on Tuesday it would buy Wiz for US$32 billion (RM142.2 billion) in its biggest deal as the Google parent doubles down on cybersecurity to sharpen its edge in the cloud-computing race against Amazon.com and Microsoft.

Alphabet to buy Wiz for US$32b in its biggest deal to boost cloud security

Apple Inc lost its fight at Germany’s top civil court to overturn a regulator’s decision to put it under tighter antitrust scrutiny alongside other US tech giants.

Apple loses top court fight over German antitrust crackdown

Volkswagen AG’s Audi will cut as many as 7,500 positions in Germany by 2029 as the automaker tries to shore up its flagging profitability.

Audi to cut 7,500 jobs in Germany to become more efficient

Indonesia’s veteran Finance Minister Sri Mulyani Indrawati said she will stay in her post, dispelling resignation rumours that helped drive the stock market to its biggest slump in three years.

Indonesia’s Indrawati says she is not quitting as finance chief

Majlis Amanah Rakyat (Mara) deputy director general (entrepreneurship) Datuk Zulfikri Osman has been appointed as the new Mara director general.

Zulfikri Osman appointed Mara director general 

Malaysia strongly condemned the killing of eight humanitarian workers from the Malaysian Consultative Council for Islamic Organisations (Mapim) in an airstrike in Gaza last Saturday.

Anwar condemns killing of Mapim humanitarian workers in Gaza 

Zero tolerance for intolerance is a crucial principle that must be firmly embraced in Malaysia, a country rich with cultural and religious diversity, said National Unity Advisory Council member Tan Sri Lee Lam Thye.

Lee Lam Thye urges zero tolerance for intolerance, return to core values of Rukun Negara 

Israeli airstrikes pounded Gaza, killing more than 400 people, Palestinian health authorities said on Tuesday, threatening the complete collapse of a two-month ceasefire as Israel vowed to use more force to free hostages held by Hamas.

Israeli strikes kill over 400 in Gaza, say Palestinians, threatening total truce collapse

<p>An ultra-high net worth Chinese businessman is suing four former staff in Singapore for allegedly misappropriating S$74 million (US$56 million or RM248.9 million), underscoring the vulnerabilities of certain family office structures.</p>


Rich Chinese alleges family office staff in Singapore misused US$56m

<p>Indonesian stocks plummeted 7% on Tuesday and the rupiah slid to a two-week trough, pressured by concerns over the government's fiscal strategy and the nation's growth prospects ahead of the central bank's monetary policy decision.</p>


Indonesian stocks plunge 7% as growth, fiscal worries weigh

<p>Grab Holdings Ltd is moving forward with its attempt to take over GoTo Group, according to people familiar with the matter, who said the Singaporean ride and delivery firm has begun due diligence on its Indonesian rival.</p>


Grab said to move forward with talks to acquire rival GoTo

<p>Indonesia will raise its palm oil export levy to between 4.5% and 10% of the crude palm oil reference price, up from 3% to 7.5%, to finance a mandated increase in the amount of the oil used in biodiesel, a plantation fund official said on Tuesday.</p>


Indonesia to raise palm oil export levy to 4.5% to 10%, official says

<p>A Road Transport Department (JPJ) personnel was sentenced to one year in prison and a fine of RM80,000 by the Ayer Keroh Sessions Court here on eight counts of corruption.</p>


JPJ personnel jailed, fined RM80,000 over graft

<p>CEOs in Malaysia see a lack of availability of skilled workers as being the biggest threat to their business in the year ahead, a PwC survey shows. The result raises questions as to how this might impact companies’ growth plans and hiring.</p>

<p>Interestingly, this particular concern about sk...

Shortage of skilled workers a top concern for Malaysian CEOs — PwC survey

<p>A growing share of US consumers say they’re not seeking loans because they expect to be refused amid tight credit conditions, according to data from the Federal Reserve Bank of New York.</p>


Americans see growing risk they’ll get turned down for loans

<p>Police have recorded the statement of a 65-year-old man suspected of slapping a non-Muslim individual at a convenience store in a shopping mall on Sunday.</p>


Johor police quiz man who allegedly slapped non-Muslim for eating during Ramadan

<p>Investors slashed exposure to US equities by the most on record in recent weeks as expectations of global economic growth worsened, according to Bank of America Corp.</p>


BofA survey shows biggest ever drop in exposure to US equities

<h3><span style="color:#d35400;">Banking</span></h3>

<p><span style="color:#27ae60;"><strong>POSITIVE</strong></span></p>

<p><strong>MAYBANK IB RESEARCH (March 4):</strong> Banks ended 2024 on a decent note, with all banks under our coverage meeting expectations and AMMB Holdings Bhd (KL:AMBAN...

Brokers Digest: Local Equities - Banking, KPJ Healthcare Bhd, Guan Chong Bhd, Malakoff Corp Bhd

<p>Indonesia’s veteran Finance Minister Sri Mulyani Indrawati said she will stay in her post, dispelling resignation rumours that helped drive the stock market to its biggest slump in three years.</p>


<p>Treasury Secretary Scott Bessent said that the underlying economy is healthy and there’s no reason for the US to see a recession, while rejecting the idea of assuring there cannot be a downturn.</p>


<p>DATUK Lim Kian Onn, co-founder and executive chairman of ECM Libra Group Bhd (KL:ECM), has emerged as a white knight for beleaguered Aseana Properties Ltd, a property developer whose listing on the London Stock Exchange (LSE) was pioneered 18 years ago by the Lai family that controlled Ireka Corp...

ECM Libra’s Lim emerges as London-listed Aseana Properties’ white knight

<p>Thailand plans to halve the number of days it allows foreign tourists to stay without visas to 30 days as the Southeast Asian nation cracks down on travellers exploiting the waiver to engage in illegal businesses, according to Tourism and Sports Minister Sorawong Thienthong.</p>


Thailand plans to cut tourists’ visa-free stays to 30 days

<p>Majlis Amanah Rakyat (Mara) deputy director general (entrepreneurship) Datuk Zulfikri Osman has been appointed as the new Mara director general.</p>


<p>Tencent Music Entertainment Group's revenue rose 8.2% in the fourth quarter, as China's biggest music streaming company registered its second straight quarter of growth after a year-long slowdown.</p>


<p>Malaysia strongly condemned the killing of eight humanitarian workers from the Malaysian Consultative Council for Islamic Organisations (Mapim) in an airstrike in Gaza last Saturday.</p>


<p>Xiaomi Corp hiked its 2025 delivery target for electric vehicles to 350,000 units after posting its fastest revenue growth since 2021, reflecting inroads into the Chinese EV market.</p>


Xiaomi raises EV targets after sales grow fastest since 2021

<p>THE local offshore support vessel (OSV) sector may experience a shortage of vessels in the coming years owing to insufficient new builds and an ageing fleet, says a recent industry report. At the same time, industry players attribute the lack of long-term contracts as a major factor discouraging ...

OSV sector may face shortage amid ageing fleet

<h2>Notable filings</h2>

<p>From Feb 24 to 28, notable shareholding changes at Bursa Malaysia-listed companies included those at <strong>Asia Poly Holdings Bhd</strong> (KL:ASIAPLY). The manufacturer of cast acrylic sheets announced in a bourse filing on Feb 25 that Southern Realty Resource Sdn B...