<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 14): Oil and gas services company Propel Global Bhd (KL:<a href="/askedge/klse/0091" class="ce-stock" target="_blank">PGB</a>), which saw a second straight year of losses in the financial year ended June 30, 2026, will seek shareholders’ approval to diversify into property development after launching its maiden commercial property project in Kuantan, Pahang, in June this year.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia, the company said its property development business is expected to contribute more than 25% of the group’s net profit in the future.</p></div>

<div class=newsTextDataWrapInner><p>Its subsidiary, Propel Global Development Sdn Bhd, broke ground in June on a RM64 million gross development value (GDV) riverfront commercial shoplot project in Kuantan.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Propel Global’s net loss widened to RM27.2 million for the financial year ended June 30, 2026, from RM24.2 million a year earlier, as all its business segments slowed. The decline was mainly due to lower progress billings from engineering, procurement, construction and commissioning (EPCC) projects in the oil and gas segment, as well as reduced mechanical and electrical maintenance work.</p></div>

<div class=newsTextDataWrapInner><p>Revenue fell by almost 28% to RM80.4 million.</p></div>

<div class=newsTextDataWrapInner><p>Propel Global shares were last untraded at six sen apiece, giving the company a market capitalisation of RM51.97 million.</p></div>


Oil and gas services company Propel Global Bhd (KL:PGB), which saw a second straight year of losses in the financial year ended June 30, 2026, will seek shareholders’ approval to diversify into property development after launching its maiden commercial property project in Kuantan, Pahang, in June this year.

Propel Global to seek shareholder approval to diversify into property development

(Oct 21): Oil-product markets are likely to remain tight through mid-2027, even if current war-related disruptions ease, as an “unusually large upswing in refinery maintenance” constrains global supply, according to Morgan Stanley.

Morgan Stanley sees fuel tightness persisting through mid-2027

CIMB Group Holdings Bhd (KL:CIMB) is exploring taking its Indonesian arm private as tough market conditions dim prospects for a potential secondary offering, analysts said.

CIMB weighs taking Indonesian unit private as potential secondary offering loses appeal — analysts

KUALA LUMPUR (Oct 21): Tan Sri Tan Kean Soon, the former deputy chairman of an oil-and-gas services firm, has been charged with fraud of over RM10 million.

Tan Kean Soon, former T7 Global deputy chairman, charged with RM10m fraud

BENGALURU (Oct 21): Gold prices eased for a fourth session on Wednesday as higher oil prices stoked inflationary concerns, while investors looked ahead to next week's Federal Reserve policy meeting for clues on the future path of interest rates.

Gold dips for fourth session as oil rally fans inflation concerns

SEPANG (Oct 21): Malaysian Border Control and Protection Agency director general Datuk Seri Mohd Shuhaily Mohd Zain has been charged for hurting lower-ranking officers.

Border Control director general Shuhaily charged for hurting lower-ranking officers, claims trial

Bursa Malaysia Bhd’s (KL:BURSA) third quarter could be sequentially softer as weaker securities trading activity dragged on a stronger derivatives market, an analyst flagged.

Bursa may report sequentially weaker 3Q, market activity may pick up — analyst

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(Oct 21): Artificial intelligence is helping Southeast Asia’s digital economy deliver robust growth in the face of rising prices and teetering demand, according to a group of researchers.

AI to spur SE Asian digital economy to US$368 bil, study shows

(Oct 21): US and Mexican trade negotiators have hit an impasse over tariffs on steel and aluminum, dashing earlier optimism for an imminent deal and likely kicking major progress until after the midterm elections, people familiar with the matter said.

US-Mexico trade talks hit impasse as Lutnick exerts influence — Bloomberg

<p>SEPANG (Oct 21): Malaysian Border Control and Protection Agency director general Datuk Seri Mohd Shuhaily Mohd Zain has been&nbsp;charged for hurting lower-ranking officers.</p>


<p>The number of Malaysians aged 65 and above crossed the one-million mark in 2002, accounting for 4.2% of the population. Back then, those aged 14 and below made up a third of the population.</p>


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<p>The 10 sacked Negeri Sembilan executive councillors have filed a motion at the Federal Court seeking to challenge the state ruler's decision last month to remove them.&nbsp;</p>


Negeri Sembilan excos ask Federal Court if their sacking is constitutional

<p>SINGAPORE (Oct 21): Asian stocks rose and bonds stabilised at the start of trading on Wednesday following Wall Street's gain as early indications from the corporate earnings season pointed to strong profits for global companies and bolstered investor confidence.</p>


Asian stocks climb as strong earnings buoy Wall Street

<p>BENGALURU (Oct 20): Anthropic reported a net loss of more than US$80 billion in the first half of the year and signalled it could spend as much as US$750 billion in the coming years to secure more computing capacity, the <em>Wall Street Journal</em> reported on Tuesday.</p>


Anthropic logged net loss of over US$80 bil in first half of 2026, WSJ reports

<p>The government is open to considering a proposal to establish a royal commission of inquiry (RCI) into Retirement Fund Inc&nbsp;(KWAP) and the Employees Provident Fund (EPF)&nbsp;should the need arise.</p>


Azalina: Govt to consider commission to probe KWAP, EPF if needed

<p>Developers' projected profits from urban redevelopment projects will factor into how replacement properties for existing homeowners are valued under the proposed Urban Renewal Bill (URA).</p>


Urban Renewal Bill to factor in developers’ projected profits in valuing replacement properties

<p>KUALA LUMPUR (Oct 21): NWE Resources Group Bhd (KL:NWEBHD) edged higher in the consumer product company’s first day on the ACE Market.</p>


NWE Resources opens with modest gain on ACE Market debut

<p>SAO PAULO (Oct 21): Brazil raced to contain the trade fallout from the detection of a highly contagious bird virus, as poultry shipments to countries including top buyer China faced restrictions.</p>


Brazil moves to contain bird virus, suspends chicken exports to Malaysia

<p>Stocks rose in late hours as SpaceX reported solid earnings fuelled by a big jump in its artificial-intelligence (AI) business.</p>


US stocks climb in late hours after SpaceX earnings

<p>BEIJING (Oct 21): Oil prices edged higher on Wednesday on Middle East supply concerns, with traders wary of Red Sea shipping risks and threats to oil infrastructure in Saudi Arabia.</p>


Oil rises on Middle East supply worries

<p>Here's a heads up on what to look out for today.</p>


YOUR DAY AHEAD: Oct 21, 2026 

<p>The minimum 30% Bumiputera equity requirement remains in place in line with the Property Acquisition Guidelines, which took effect on July 13, 2022, and is subject to approval by the Economy Ministry.</p>


Govt assures minimum Bumiputera equity requirement retained at 30%

<p>DayOne Data Centers Ltd&nbsp;is weighing options for its US initial public offering (IPO), including a potential delay or size cut, as volatility around data centres increases, according to people familiar with the matter.</p>


Singapore's DayOne said to weigh options for US IPO after data centre rout

<p>WASHINGTON/BENGALURU (Oct 20): Elon Musk said on Tuesday that a merger of his two companies SpaceX&nbsp;and Tesla would be "a good idea" and that they had formed special committees to discuss a union, sending shares of the space and technology company up 8% in extended trading.</p>


Musk says SpaceX-Tesla merger 'a good idea' as companies form deal committees

<p>The justification for introducing a new-generation MyKad, its security levels, and cooperation between Malaysia and Indonesia in tackling cross-border haze are among topics&nbsp;expected to take centre stage during the Dewan Rakyat sitting on Wednesday.</p>


New MyKad, haze among topics in Dewan Rakyat on Wednesday

<p>BENGALURU (Oct 21): Gold prices eased for a fourth session on Wednesday as higher oil prices stoked inflationary concerns, while investors looked ahead to next week's Federal Reserve policy meeting for clues on the future path of interest rates.</p>


<p>Twenty-two&nbsp;areas nationwide recorded unhealthy air pollutant index (API) readings as of 9am on Wednesday, with Bukit Rambai in Melaka recording the highest reading of 174.</p>


Haze: Unhealthy air in 22 areas nationwide

<p>KUALA LUMPUR (Oct 21): Radium Development Bhd (KL:RADIUM) has recorded a 40% take-up for Radium Evara following the opening of its sales gallery and initial buyer selection activities.</p>


Radium Development sells 40% of Radium Evara in Kepong

<p>TAIPEI (Oct 21):Chipmaker TSMC said on Wednesday that four construction workers had been killed at a site for a new factory in southern Taiwan, with some building work being halted as a result.</p>
