Latest
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Economy
US plans to restore tariffs on some solar tech
The Biden administration is expected to grant a request by South Korea’s Hanwha Qcells to reverse a two-year-old trade exemption that has allowed imports of a dominant solar panel technology from China and other countries to avoid tariffs, two sources familiar with the White House plans say.
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Economy
Amir Hamzah leads M’sian delegation to IMF, WBG spring meetings
Finance Minister II, Datuk Seri Amir Hamzah Azizan, is leading Malaysia’s delegation to Washington DC, United States, to attend the 2024 spring meetings of the International Monetary Fund (IMF) and World Bank Group (WBG) from April 17-19.
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Economy
EPF Account 3 draws concerns over dividends
A lower Employees Provident Fund (EPF) net dividend rate could materialise from its decision to introduce Account 3.
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Corporate News
AWC lands RM17.8mil plumbing job
AWC Bhd’s wholly-owned subsidiary, Qudotech Sdn Bhd, has accepted a letter of award worth RM17.8mil from IJM Construction Sdn Bhd for plumbing works at Hospital Kapar, Selangor.
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Corporate News
Feytech signs underwriting agreement for listing on Main Market
Feytech Holdings Bhd, en route to a listing on the Main Market of Bursa Malaysia, has signed an underwriting agreement with TA Securities Holdings Bhd and AmInvestment Bank Bhd for the company’s initial public offering (IPO).
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Corporate News
WCE’s Raya traffic beats target
The West Coast Expressway’s traffic volume during the Hari Raya travel period was more than double of its initial estimate, as travellers chose the highway as an alternative route heading to and from the north.
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Corporate News
Dialog Axiata inks deal to acquire Airtel Lanka
Axiata Group Bhd’s Sri Lankan unit Dialog Axiata PLC will acquire rival telecommunications company (telco) Airtel Lanka from Bharti Airtel Ltd in exchange for 10.355% of the total issued shares in Dialog.
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Property
Developers gearing up for higher sales
Loan applications for property took a breather in February, but they were higher in the first two months of 2024 at RM91bil, indicating stronger demand for property, according to MIDF Research.
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Corporate News
Sunway gets RM50mil revenue from roadshow
Sunway Group generated close to RM50mil in sales from its two-week nationwide Golden Jubilee Mega Roadshow – reaffirming the group’s status as a trusted brand, says Sunway Group chief executive officer for digital and strategic investments Evan Cheah.
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Corporate News
PIE expects higher contributions from new customers
PIE Industrial Bhd can expect higher contributions from new customers that will collectively account for 8% to 12% of total group revenue in financial year 2024 (FY24).
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Corporate News
ESG investor group wants market reforms
Global ESG investors with US$9.5 trillion under management say it’s time to demand more accountability from private markets, amid evidence they’re increasingly absorbing fossil-fuel assets.
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Corporate News
Smart Asia en route for listing on ACE Market
Smart Asia Chemical Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd for the company’s initial public offering (IPO) on the ACE Market of Bursa Malaysia.
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Support Line
SupportLine
EG Industries Bhd broke free of the key simple moving averages (SMA) as turnover surged amid strong buying interest.
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Corporate News
Pansar secures RM269mil utility contract
Pansar Bhd has received a letter of award from Lembaga Air Sibu, Sarawak, for the upgrading of a water treatment plant in Salim, Sibu worth RM269.1mil via open tender.
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Business
Systech gets shareholders’ nod for capital exercise
Information technology (IT) solutions company Systech Bhd forges ahead with its transformation plan as the company received shareholders’ nod for its capital exercise proposals at its EGM yesterday.
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Corporate News
Sin-Kung targets to raise RM26mil from its IPO
ACE Market-bound Sin-Kung Logistics Bhd, which specialises in providing airport-to-airport road feeder services for both passenger and cargo airlines, aims to raise RM26mil through its initial public offering (IPO).
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Corporate News
Trading suspension for Awanbiru
Trading in the securities of Awanbiru Technology Bhd will be suspended effective April 26, 2024, as it has failed to comply with the conditions imposed by the local bourse.
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Corporate News
Kimlun wins RM150mil deal from Astaka
Singapore-listed Astaka Holdings Ltd has awarded a RM150mil construction contract to Kimlun Sdn Bhd, a subsidiary of Kimlun Corp Bhd.
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Markets
Bursa Malaysia ends higher on improved market sentiment
Bursa Malaysia continued its upbeat momentum to end higher for the second straight day yesterday, on improving sentiment and a resurgence in bargain-hunting following the recent downturn, says an analyst.
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Banking
RHB ups its sustainable financial service target
RHB Bank Bhd is targeting to increase its 2026 sustainable financial services from RM20bil to RM50bil after recording strong achievements in the area.