Corporate News

High court approves Capital A's capital reduction, working towards PN17 status uplift

KUALA LUMPUR: Capital A Bhd has received the High Court of Malaya's approval on capital reduction of RM5.51 billion, marking the completion of all major steps required under Capital A's regularisation plan.

Markets

Stocks shaken by geopolitical fears, Japanese bonds bounce after selloff

SYDNEY: Asian stocks extended their losing streak on Wednesday, undone by heightened tensions over U.S. threats to acquire Greenland ahead of President Donald Trump's Davos speech, while Japanese bonds bounced sharply to regain some composure from a meltdown.

Business

China completes first phase of 6G technology trials

CHINA has completed the first phase of its 6G technology trials and accumulated a reserve of more than 300 key technologies, the Ministry of Industry and Information Technology said on Wednesday, underscoring policymakers' efforts to steadily enhance the country's information and communications technology capabilities.

Markets

ACE Market-bound Kee Ming Group to raise RM31.50mil from IPO

KUALA LUMPUR: Kee Ming Group Bhd aims to raise RM31.50 million from its initial public offering (IPO) ahead of its listing on the ACE Market of Bursa Malaysia Securities Bhd on Feb 12, 2026.

Markets

Bursa Malaysia continues uptrend at midday, CI stays above 1,700

KUALA LUMPUR: Bursa Malaysia's benchmark index extended its gains at midday, holding above the 1,700 level, on sustained buying interest in selected heavyweight stocks despite mixed performances in regional markets.

Commodities

Gold crosses US$4,800 for the first time as US, EU spar over Greenland

GOLD prices surged to a record high above $4,800 per ounce on Wednesday, buoyed by safe-haven demand and a softer dollar as U.S. President Donald Trump's pursuit of Greenland threatened to reignite a trade war with Europe and upend the NATO alliance.

Commodities

Oil prices fall as risks from Kazakh production halt subside

TOKYO: Oil prices fell on Wednesday as an expected build-up of U.S. crude inventories outweighed a temporary halt in output at two large fields in Kazakhstan and geopolitical pressure from U.S. threats of tariffs over its bid to gain control of Greenland.

Markets

ACE Market-bound Ambest aims to raise RM27.5mil from IPO

PETALING JAYA: Ambest Group Bhd, an engineering support services provider specialising in precision machining, aims to raise approximately RM27.50 million through its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd on Feb 6, 2026.

Corporate News

Steel Hawk unit secures contract for fire rated doors in Sabah

KUALA LUMPUR: Steel Hawk Bhd's wholly-owned subsidiary Steel Hawk Engineering Sdn Bhd has secured a subcontract from Eternity Mode Sdn Bhd for the procurement, construction and commissioning of fire rated doors in Sabah.

Corporate News

Binastra unit accepts RM742.86mil building contract in Johor

KUALA LUMPUR: Binastra Corp Bhd said its wholly-owned subsidiary Binastra Builders Sdn Bhd has accepted a contract from Maxim Pelangi Sdn Bhd for main building works of a 72-storey serviced apartment in Plentong, Johor.

Commodities

CPO prices to stay range-bound at RM4,000-RM4,300 per tonne in Feb - MPOC

KUALA LUMPUR: Crude palm oil prices (CPO) are expected to remain range-bound between RM4,000 per tonne and RM4,300 per tonne in February due to seasonal declines in production and stocks, according to the Malaysian Palm Oil Council (MPOC).

Stock on the Move

Maybank shares up following launch of new five-year strategy

KUALA LUMPUR: Malayan Banking Bhd's (Maybank) shares were up in early trade, following its newly-launched ROAR30 five-year strategy plan (2026-2030), targeting to deliver a stronger return on equity (ROE) of 13 per cent-14 per cent by 2030.

Corporate News

MMC Ports targets digital consolidation and operational resilience in pivotal 2026

KUALA LUMPUR: MMC Ports Holdings Bhd, Malaysia's largest port operator and manager of key transshipment hubs, will focus on executing targeted infrastructure upgrades and equipment enhancement programmes in 2026.

Forex

Dollar down as 'Sell America' trade revives; yen slumps on Japan fiscal worries

TOKYO: The dollar languished near three-week lows against the euro and Swiss franc on Wednesday after White House threats over Greenland triggered a broad selloff in U.S. assets, from the currency to Wall Street stocks and Treasury bonds.

Forex

Ringgit edges up against US$, major currencies in early trade

KUALA LUMPUR: The ringgit opened marginally firmer against the US dollar and other major currencies on Wednesday, supported by modest demand, as traders remained cautious and monitored ongoing economic developments.

Markets

FBM KLCI loses more ground after 1,700 support breach

KUALA LUMPUR: The selling pressure intensified on the local stock market as investor sentiment soured amid the growing cross-Atlantic feud over Greenland.

Corporate News

Trading ideas: IJM, Dayang, Mitrajaya, KKB, Greentronics, LFE, Swift, ICT Zone, PJBumi, Reservoir Link, MyTech, Reneuco. One Gasmaster, ISF, Ancom Nylex

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

Economy

IMF raises Malaysia's real GDP growth forecast to 4.3% for 2026, 2027

KUALA LUMPUR: The International Monetary Fund (IMF) has raised its projection for Malaysia's real gross domestic product (GDP) growth to 4.3 per cent for both 2026 and 2027, representing an upward revision of 0.3 percentage points.

Commodities

Oil rises on Kazakh supply disruptions, upbeat data

Oil prices rose on Tuesday on the temporary suspension of output at Kazakhstan's oil fields and expectations of firmer global economic growth that could drive fuel demand. Investors continued to monitor US President Donald Trump's tariff threats against European states that oppose his push to acquire Greenland.

Markets

Wall St posts biggest daily drop in three months

All three major Wall Street indices ended Tuesday with their biggest one-day drops in three months, in a broad selloff triggered by concerns that fresh tariff threats from President Donald Trump against Europe could signal renewed market volatility.