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Markets
ACE Market-bound Kawan Renergy aims to raise RM33mil from IPO
KUALA LUMPUR: Engineering solutions provider Kawan Renergy Bhd, en route for a listing on the ACE Market of Bursa Malaysia Securities on May 29, 2024, aims to raise RM33 million from its initial public offering (IPO).
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Aviation
Mavcom to continue ensuring high-quality of airports through its framework
SEPANG: The Malaysian Aviation Commission (Mavcom) has implemented 20 out of 28 service quality elements to ensure continuous improvements in the quality of its services for airport users at KL International Airport Terminal 1 and Terminal 2.
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Economy
China's economy on stable, positive trajectory
SUPPORTED by coordinated macroeconomic policies, China's economy achieved a strong start in the first quarter of 2024, demonstrating a stable and positive trajectory.
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Telcos
Singtel falls up to 3% after US$2.3bil impairment
SHARES of Singapore Telecommunications (Singtel) fell as much as 3.3% on Monday to a more than one-week low after it forecast non-cash impairment provisions of S$3.1 billion ($2.28 billion) for the second half of 2024.
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Markets
Yen surges on suspected intervention, Asia shares rise
SINGAPORE: The yen jumped sharply against its peers on Monday after it slid past 160 per dollar earlier in the session, leading to speculation that Tokyo could have intervened in the currency market while the country was out for a holiday.
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Corporate News
Nestle Malaysia registers resilient 1Q amid cautious consumer spending
KUALA LUMPUR: With the results of its first-quarter (1Q) performance in, Nestle (Malaysia) Bhd said 2024 is shaping up to be a challenging year with pressure on short-term growth as a result of inflation, foreign exchange volatility as well as heightened inflation.
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Auto
Proton opens R&D facility at Hangzhou Bay, China
KUALA LUMPUR: National car maker Perusahaan Otomobil Nasional Sdn Bhd (Proton) inaugurated its research and development (R&D) centre in China last Saturday (April 27) to strengthen its collaboration with its partner Zhejiang Geely Holding Ltd (Geely) and complement its facilities in Malaysia.
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Corporate News
LPI Capital's 1Q net profit jumps 37%
KUALA LUMPUR: LPI Capital Bhd, whose bottomline rose a notable 37% in the first quarter of 2024, said it will focus on sustainability efforts within an increasingly competitive market environment.
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Markets
Bursa ends early session on an uptrend
KUALA LUMPUR: The positive momentum on the domestic market continued over the early Monday session, underpinned by strong buying interest in select heavyweights.
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Commodities
Oil prices pare gains on U.S. inflation concerns
BEIJING: Oil prices fell in early Asian trading on Monday, reversing gains from Friday as U.S. inflation data further dimmed the prospects of interest rate cuts anytime soon and boosted the dollar, which hurts oil demand.
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Forex
Ringgit opens easier against US$ as investors await cues
KUALA LUMPUR: The ringgit opened easier against the US dollar on Monday as investors remained on the sidelines in anticipation of a number of significant global events and data points, including the upcoming Federal Open Market Committee (FOMC) meeting.
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Investment
TotalEnergies states commitment to increase investment in Malaysia's upstream O&G sector - Anwar
KUALA LUMPUR: TotalEnergies, a global energy supplier company based in France, has stated its commitment to increasing its investment in Malaysia’s upstream oil and gas (O&G) sector, said Prime Minister Datuk Seri Anwar Ibrahim.
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Markets
Foreign funds return to Bursa with RM292.2mil net equity purchases
KUALA LUMPUR: Foreign investors returned to Bursa Malaysia with a net purchase of RM292.2mil last week, in tandem with a renewed interest in the domestic market's blue chip counters.
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Markets
FBM KLCI stays on uptrend as momentum grows
KUALA LUMPUR: The domestic market is extending the positive momentum as it remains energised by Wall Street's performance on the back of the ongoing release of US corporate earnings.
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Analyst Reports
Trading ideas: Maybank, KLK, Nestle, GenM, KPJ, D&O, Sam Engineering, Capital A, KUB
KUALA LUMPUR: Here is a recap of the recent corporate announcements that could draw investor interest.
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Banking
RHB Islamic Bank secures RM3.3bil funds
KUALA LUMPUR: RHB Islamic Bank Bhd is well-placed at the forefront of gaining momentum in the Islamic Wealth Management (IWM) market, having already secured RM3.3bil in the segment as of the end of 2023.
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Star Biz7
Act now to stay afloat
WE need to move beyond rhetorics to enhance the transformation of the water industry. Concrete, actionable and measurable initiatives are required to achieve sustainable water management.
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Star Biz7
Plug the leaks
THE vast turnout at ASIAWATER 2024 expo and conference (April 23-25) in Kuala Lumpur would have been surprising to an industry outsider. How sexy can the water sector be?
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STARPICKS
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Economy
Fair measures needed for developing nations
KUALA LUMPUR: Malaysia believes there is a need to revisit commitments to sustainable development, efficient global resources and fair and balanced trade among countries, says the Investment, Trade and Industry Ministry (Miti).