Latest

1d ago

Banking
HSBC profit underwhelms on unexpected US$400mil private credit loss

HONG KONG/LONDON: HSBC reported an unexpected $400 million loss linked to a fraud case in Britain on Tuesday, causing it to slightly undershoot first-quarter profit estimates and raising questions about bank lending to the $3.5 trillion private credit industry.
1d ago

Markets
Shares falter, oil prices stay elevated as US-Iran hostilities ramp up

SINGAPORE: Stocks fell in Asia on Tuesday while oil prices retreated after the previous day's surge but remained well above $100 a barrel, as the U.S. and Iran traded blows over the Strait of Hormuz, leaving a fragile truce hanging in the balance.
1d ago

Corporate News
Mimos forges partnership with Universiti Brunei Darussalam to advance deep-tech agenda

KUALA LUMPUR: MIMOS International Venture Sdn Bhd (MIVSB) has formalised a strategic partnership with Universiti Brunei Darussalam (UBD) to advance Malaysia's deep-tech agenda and accelerate regional commercialisation.
1d ago

Corporate News
PDC, MAHB approve formation of joint venture company to implement Pila project

GEORGE TOWN: The Penang Development Corporation (PDC) and Malaysia Airports Holdings Bhd (MAHB) have approved the setting up of a joint venture company, Syarikat Usahasama PILA Sdn Bhd, to implement the Penang International Logistics Aeropark (PILA) project.
1d ago

Corporate News
Hartalega's 4Q net profit jumps to RM40.47mil on improved operational efficiencies

KUALA LUMPUR: Hartalega Holdings Bhd turned out a stronger quarterly profit despite the impact of a lower average selling price (ASP) on its revenue, thanks to cost optimisation initiatives, tighter cost controls and operational efficiencies.
1d ago

Economy
Australia central bank hikes rates for third time this year in battle with inflation

SYDNEY: Australia's central bank lifted rates for a third time this year on Tuesday, returning borrowing costs to post-pandemic highs and warning that inflation would remain sticky as the conflict in the Middle East unleashed a global oil shock.
1d ago

Markets
Malaysia's blue chips hold steady amid broader market selldown

KUALA LUMPUR: Malaysia's blue-chip stocks held up despite growing unease over renewed hostilities in the Strait of Hormuz although the broader market succumbed to selling pressure.
1d ago

Commodities
Oil eases on signs US is loosening Iranian closure of Strait of Hormuz

OIL prices eased more than 1% on Tuesday after climbing by as much as 6% in the previous session on signs the U.S. Navy is loosening Iran's grip on the Strait of Hormuz, potentially opening up supply from the Middle East.
1d ago

Economy
OPR to hold at 2.75%, hike risk ahead - Juwai IQI

KUALA LUMPUR: Bank Negara Malaysia (BNM) will likely leave the Overnight Policy Rate (OPR) unchanged at 2.75 per cent at its Monetary Policy Committee (MPC) meeting on Thursday, but may have to raise rates later this year, said Juwai IQI co-founder and group chief executive officer Kashif Ansari.
1d ago

Forex
Ringgit steady against US$ ahead of MPC decision

KUALA LUMPUR: The ringgit opened nearly unchanged against the US dollar from yesterday's close as markets await the latest decision by Bank Negara Malaysia's (BNM) Monetary Policy Committee (MPC), scheduled for May 7.
1d ago

Markets
Mild selling pressure on Bursa after renewed aggression in Hormuz

KUALA LUMPUR: The FBM KLCI was little changed on Tuesday even as analysts expects investors to shift towards a more defensive stance amid the cautious near-term outlook.
1d ago

Corporate News
Trading ideas: PetGas, Exsim Hospitality, MISC, XL, Feytech, IQ, Cropmate, AGX, PMW, Top Glove, Maxim, Eurospan, Industronics

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.
1d ago

Corporate News
Singapore's Grab beats revenue estimates on strong delivery, mobility demand

SINGAPORE's Grab beat Wall Street expectations for first-quarter revenue on Tuesday, benefiting from resilient demand for its ride-hailing and food-delivery services after rolling out promotional offers and bundled features to attract more customers.
1d ago

Markets
S&P 500 falls from record high on Middle East worries

WALL Street ended lower on Monday, with the S&P 500 retreating from record highs, after a South Korean ship was hit by an explosion in the Strait of Hormuz and Tehran demonstrated its grip on Middle East oil, dampening optimism about strong first-quarter earnings reports.
1d ago

Markets
Bursa closes at intraday high on improved sentiment

KUALA LUMPUR: Bursa Malaysia ended at an intraday high on broad-based buying, reflecting improving sentiment on the local front, analysts say.
1d ago

Corporate News
XL Holdings to buy Giant Mini outlets for RM15mil

PETALING JAYA: XL Holdings Bhd has entered into an agreement to acquire a network of 34 "Giant Mini" outlets across the Klang Valley for RM15mil, marking its entry into the convenience retail segment.
1d ago

Corporate News
AI-driven upcycle lifts tech earnings

PETALING JAYA: Malaysia's semiconductor-related stocks continue to shine, with automated test equipment (ATE) players leading the way as some investors see them as beneficiaries of the artificial intelligence (AI) boom.
1d ago

Corporate News
MISC in PetGas contract win

PETALING JAYA: MISC Bhd has secured a long-term contract from PETRONAS Gas Bhd (PetGas) for the supply, operation and maintenance of a floating storage and regasification unit (FSRU).
1d ago

Corporate News
GIIB gets UMA query from Bursa after 50% surge

PETALING JAYA: GIIB Holdings Bhd has confirmed it is exploring a potential investment in a healthcare-related business, following a query from Bursa Malaysia over a sharp surge in its share price and trading activity.
1d ago

Economy
OPR cut could backfire on the economy

PETALING JAYA: Bank Negara Malaysia (BNM) heads into this week's monetary policy meeting with a difficult truth hanging over it: monetary policy is less effective in times of supply shocks.