Buffett: 'Oncor is a strong company with values, management and employees that will fit well with Berkshire Hathaway.'
Energy
Brent crude was 0.52% higher to US$50.72 per barrel at 3.30pm.
Forex
Ringgit up 0.31% to 4.3152 versus the US dollar at 3.36pm.
Top foreign stories
Buffett to face big crowd as Berkshire grows bigger: As the US adapts to the presidency of Donald Trump and faces rising tensions abroad, Berkshire Hathaway Inc shareholders will descend on Omaha, Nebraska, this weekend seeking reassurance, from Warren Buffett. Buffett and vice-chairman Charlie Munger will answer five hours of questions at Saturday’s annual meeting. Many say it reinforces their views about investing and Berkshire, even if it remains unclear how much new they learn. — Reuters
NZ nixes merger of top 2 publishing groups citing concentration of media power: New Zealand’s competition regulator blocked the planned merger of the nation’s two largest publishing groups, saying the deal would have led to unprecedented local media influence and built the world’s most concentrated newspaper market outside of China. — Reuters
BNP Paribas Q1 profit rise powered by trading rebound: BNP Paribas reported a 4.4% rise in quarterly profit, topping analysts’ expectations, as a surge in fixed income and equities trading helped offset weaker retail banking in France and Italy where revenue fell. — Reuters
China tightens rules for online news providers: China has issued new internet regulations increasing Communist party control over online news providers, the latest step in the country’s push to tighten its policing of the Web. The new regulations take effect on June 1. — AFP
Top local stories
I-Bhd optimistic of RM500m revenue by 2018: I-Bhd, the master developer of i-City here, is confident of posting RM500mil in revenue by 2018, which will come mainly from its property development segment. Deputy chairman Datuk Eu Hong Chew said the company’s property development chalked up a revenue of RM383.6mil for financial year ended Dec, 31 2016. — Bernama
Cagamas mulls RM11b bonds and sukuk this year: Cagamas Bhd is eyeing to issue a mixture of RM11bil worth of bonds and sukuk this year compared with RM5.7bil last year. Chief executive officer Datuk Chung Chee Leong said the higher projection was due to expectation of better demand from banks for the company’s bonds and sukuk to comply with Basel III requirements. — Bernama
Tender for KL-Singapore high-speed rail asset firm by year-end: The Government will call for a tender by the year-end to set up a privately-financed asset company (AssetsCo) for the Kuala Lumpur-Singapore High Speed Rail project, says MyHSR Corporation Sdn Bhd chief executive officer Mohd Nur Ismal Mohamed Kamal. AssetsCo will be responsible for the design, build, finance and maintain rolling stock and to design, build, finance, operate and maintain rail assets such as track-work, power, signalling and telecommunications. — Bernama
Sunway gaining investors' interests, stable growth across its businesses: Sunway Bhd is gaining investors interests as many have begun to realise the deep value in the company and the stable growth of all its businesses. Its share price has risen by over 16% year-to-date, outperforming the FBMKLCI Index by 7.8 percentage points but flattish against the KL Property Index. — StarBiz
Eastern & Oriental to sell more non-core assets, says PIVB Research: Eastern & Oriental (E&O) is working on disposing more non-core assets to lighten its debt load, according to a recent meeting with the management, says PublicInvestment Bank (PIVB) Research. — StarBiz
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