Latest
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Energy
Shell says it remains committed to mobility business in Malaysia
GLOBAL oil major Shell said on Tuesday that it remains "committed to the mobility business" in Malaysia, after a report that it was in talks with Saudi Aramco to sell its gas stations in the country.
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Business
Federal Court rules in SC’s favour, Ricky Wong’s leave application dismissed
PETALING JAYA: The Federal Court has unanimously dismissed an application by Ricky Wong Shee Kai who is currently still at-large, for leave to appeal against the Court of Appeal’s decision with respect to his application to attend and participate in court proceedings via remote control technology (RCT).
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Corporate News
Regional expansion to bode well for CTOS
PETALING JAYA: CTOS Digital Bhd continues to reap benefits from its recent expansion into Indonesia and the Philippines.
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Business
Miti: Semiconductor industry offers Malaysia chance for exponential growth
BATU KAWAN: The semiconductor industry presents Malaysia with a 'once-in-a-generation' opportunity for exponential economic growth and industry players are advised to capitalise on this billion-dollar sector.
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Forex
Ringgit slightly higher at the close
KUALA LUMPUR: The ringgit continued to be well supported and was slightly higher at the close today although the US dollar remained fairly favourable against other major currencies, said an economist.
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Corporate News
Awantec to strengthen its synergistic offerings to drive growth
PETALING JAYA: Awanbiru Technology Bhd (Awantec) will be focusing on strengthening its synergistic offerings to drive its future growth.
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Markets
Bursa Malaysia hits all-time high market capitalisation of more than RM2 trillion
KUALA LUMPUR: Bursa Malaysia today hits a new record of more than RM2 trillion in equities market capitalisation.
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Corporate News
Sapura Energy gets US$1.8bil worth of PLSV-related contracts
PETALING JAYA: Sapura Energy Bhd’s joint venture entities, Seabras Sapura Holding GmbH and Seabras Sapura Participacoes SA, have been awarded contracts worth US$1.8bil for its six multi-purpose pipe-laying support vessels (PLSVs), as part of a competitive Petrobras tender process.
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Corporate News
OCK enters tower leasing agreement, marks debut into Laos
PETALING JAYA: OCK Group Bhd has entered into a tower leasing agreement with Best Telecom Co Ltd, marking the group’s official entry into Laos.
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Banking
AmBank, CGC announce additional RM400mil under the SME Portfolio Guarantee Scheme
KUALA LUMPUR: AmBank Group has announced an additional RM400mil financing under the SME Portfolio Guarantee Scheme with guarantee from Credit Guarantee Corp Malaysia Bhd (CGC).
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Markets
FBM KLCI soars above 1,600, highest in over two years
KUALA LUMPUR: Share prices on Bursa Malaysia marched higher for the fourth straight trading session, as investors piled into blue chip stocks.
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Corporate News
Bursa Reach to bridge investor-remisier gap
KUALA LUMPUR: Bursa Malaysia Bhd has unveiled Malaysia’s first profiling platform featuring and facilitating better connections between representatives of dealers and investors, beyond traditional channels.
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Corporate News
BP profits drop to US$2.7bil, refinery outage offsets higher output
LONDON: BP reported on Tuesday first-quarter earnings of $2.7 billion, down 40% from a year earlier and missing forecasts due to lower energy prices and a U.S. refinery outage, even as oil and gas production increased.
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Banking
UOB Malaysia launches Masterclass to help businesses for EU's Carbon Border Policy
KUALA LUMPUR: United Overseas Bank (M) Bhd (UOB Malaysia) has launched the Carbon Border Adjustment Mechanism (CBAM) Supply Chain Imperatives Masterclass aimed at assisting businesses in comprehending and preparing for the European Union's (EU) CBAM requirements set for 2026.
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Energy
Oil climbs after Israel strikes Gaza, truce talks continue
SINGAPORE: Oil prices edged higher on Tuesday after Israel struck Rafah in Gaza, while negotiations for a ceasefire with Hamas continued without resolution.
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Economy
Overcapacity talk won't affect MNCs' commitment
EXAGGERATING the "China overcapacity" narrative will impede the advancement of high-quality production capacity globally but will not discourage multinational corporations from expanding their presence in the country, said market watchers and foreign business executives.
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Corporate News
Nintendo expects to sell 13.5 mln Switch units this year
TOKYO: Nintendo said on Tuesday it expects to sell 13.5 million Switch consoles in the financial year ending March 2025.
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Corporate News
M&A Securities and Newparadigm back Siab’s acquisition of Taghill with rights issue
KUALA LUMPUR: Siab Holdings Bhd has announced its plans to raise approximately RM103.98mil through private placement, of which RM12mil has been completed on Dec 28, 2023, and rights issue with warrants.
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Energy
Saudi Aramco maintains dividend despite lower net income in Q1
DUBAI: Saudi Arabia's state-owned oil giant Aramco reported a 14.4% fall in first-quarter net profit on the back of lower oil prices and volumes sold.
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Corporate News
Pekat unit in negotiations over purchase of stake in electrical power solutions firm
KUALA LUMPUR: Pekat Group Bhd's wholly-owned subsdiary Pekat Teknology Sdn Bhd has entered into negotiations with Apex Power Industry Sdn Bhd for the potential acquisition of equity in EPE Switchgear (M) Sdn Bhd.