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Markets
Wall St set to rise ahead of speeches from Fed officials
U.S. stocks were set to rise on Friday, as investors eagerly awaited comments from Federal Reserve officials to get more clarity on the U.S. monetary policy path, after economic data this week supported bets of interest rate cuts.
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Corporate News
Sarawak Cable finds new hope as alternative party is identified
KUALA LUMPUR: Sarawak Cable Bhd has identified a “strong alternative party” interested in spearheading its resuscitation plan following the failed deal with white knight, Serendib Capital Ltd.
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Markets
Main Market-bound Feytech IPO public portion oversubscribed
KUALA LUMPUR: Feytech Holdings Bhd has announced that the 42.16 million issue shares made available for application by the Malaysian public under its initial public offering (IPO) exercise en route to a listing on Bursa Malaysia’s Main Market on May 21, 2024, have been oversubscribed.
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Corporate News
Bursa lifts Awantec's affected issuer status
PETALING JAYA: Awanbiru Technology Bhd said Bursa Malaysia Securities has granted it a waiver from complying with Paragraph 8.04(3)(a) of the Main Market Listing Requirements which requires an affected listed issuer pursuant to Paragraph 8.03A of the Main Market Listing Requirements to submit a regularisation plan to Bursa Securities.
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Business
SC charges Pixelvest and former Infinity Trustee director with unlicensed capital market offences
KUALA LUMPUR: The Securities Commission (SC) has charged two companies and one individual in the Kuala Lumpur Sessions Court with three offences relating to unlicensed capital market activities.
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Forex
Ringgit ends firmer against US dollar
KUALA LUMPUR: The ringgit ended slightly firmer against the US dollar today on improving risk appetite, said an analyst.
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Corporate News
InNature buys 'Burger & Lobster' franchise, eyes expansion into F&B Sector
KUALA LUMPUR: InNature Bhd has proposed to acquire a 100% equity interest in Blu Restaurant Sdn Bhd from Aquablu Technologies Sdn Bhd, Adventuria Sdn Bhd and Aquawalk Sdn Bhd for RM21.25mil.
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Business
Bank Negara fines Habib with RM96,250 for AMLA non-compliance
KUALA LUMPUR: Bank Negara composed a compound of RM96,250 on Habib Jewels Sdn Bhd on Jan 29, 2024 for not promptly submitting suspicious transaction reports (STR) as required by Anti-Money Laundering laws.
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Corporate News
Pharmaniaga says 'stands firm' on financial recovery to exit PN17
KUALA LUMPUR: Pharmaniaga Bhd said it "stands firm with its commitment to financial recovery amidst the opinion of its independent auditor PricewaterhouseCoopers (PWC) on the group’s 2023 financial statement, dated March 29, 2023.”
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Corporate News
Kobay gets UMA query from Bursa Malaysia
KUALA LUMPUR: Bursa Malaysia has issued an unusual market activity (UMA) to Kobay Technology Bhd due to the sharp rise in the price and trading volume recently.
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Corporate News
LFE gets RM8.27mil piling work
KUALA LUMPUR: LFE Corp Bhd’s wholly owned subsidiary, LFE Engineering Sdn Bhd has secured a contract worth RM8.27mil from Puncakcity Development Sdn Bhd.
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Corporate News
Jiankun expects GDV of its projects to soar to RM2bil under new leadership
KUALA LUMPUR: Jiankun International Bhd anticipates that the gross development value (GDV) of the group’s projects will soar to RM2 billion under the leadership of its newly appointed chairman Datuk Saiful Nizam Mohd Yusoff, effective May 10.
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Corporate News
Paramount acquires 21.54% stake in Eco World International
PETALING JAYA: Paramount Corp Bhd has become a major shareholder of Eco World International Bhd (EWI) after acquiring a 21.54% stake in EWI for RM170.61mil cash.
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Corporate News
CIMB Securities aims for high single-digit market share by year-end
KUALA LUMPUR: CIMB Securities Sdn Bhd, a wholly-owned subsidiary of CIMB Investment Bank Bhd, is eyeing a high single-digit market share in the stockbroking space by the end of this year, banking on the wholesale segment.
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Markets
FBM KLCI retraces earlier losses to close flat
KUALA LUMPUR: The FBM KLCI bounced back from its earlier losses and ended the day without much change, as no major factors were driving its movements.
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Corporate News
Total Dynamic gets bursa's nod to list on LEAP Market
KUALA LUMPUR: Technology company Total Dynamic Holdings Bhd has received approval from Bursa Malaysia Securities Bhd to be listed on the LEAP Market of Bursa Malaysia by way of introduction.
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Forex
Asian currencies set for weekly fall; stocks firm on US rate cut bets
MOST Asian currencies were heading for weekly declines on Friday, although largely unchanged on the day, while stocks rose on optimism about U.S. rate cuts stirred by fresh signs of a cooling labour market.
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Business
KL Sentral Station redevelopment project to commence year-end - Loke
KUALA LUMPUR: Transport Minister Anthony Loke announced that the redevelopment of the Kuala Lumpur Sentral Station (KL Sentral) will begin later this year.
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Business
Malaysia's March manufacturing sales value grows 1.4% to RM158.4bil
KUALA LUMPUR:The sales value of Malaysia's manufacturing sector expanded by 1.4 per cent, year-on-year (y-o-y) to RM158.4 billion in March 2024, according to the Department of Statistics Malaysia (DOSM).
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Energy
Oil set for weekly gain as demand signs, geopolitics seen as positives
SINGAPORE: Oil rose on Friday, set for a weekly gain, as data this week from the U.S. and China, the world's two largest crude users, pointed to higher demand and continuing uncertainty over the Gaza war supported prices.