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Markets
US corporate share buybacks are on the rise, lifting investor hopes
NEW YORK (Reuters) - U.S. corporate share buyback levels are slowly increasing after last year's pandemic-driven drop-off in spending, and investors are eager to see how much buybacks may support market gains.
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Economy
MITI: Govt can consider tightening Covid-19 SOPs to prevent outbreaks
KUALA LUMPURÂ (Bernama) -- The government may consider tightening the standard operating procedures (SOPs) to prevent outbreaks at ignition sites, and introducing clear guidance on geospatial planning such as quantifying indoor settings at any given time, said the Ministry of International Trade and Industry (MITI).
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Construction
Construction steel prices climb on higher iron ore cost, tight supply
KUALA LUMPUR (Bernama) -- Inadequate supply of iron ore worldwide is among the reasons why the price of steel bars in the country’s construction sector has increased, said Construction Industry Development Board (CIDB).
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Corporate News
KNM unit secures RM30mil supply jobÂ
KUALA LUMPUR: KNM Group Bhd said an indirect wholly owned subsidiary in Italy has secured a RM30mil contract to supply facility equipment intended for a plant in the US.
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Corporate News
Dr Martens owners to raise US$1.78bil in London IPO
LONDON (Reuters) - The owners of Dr. Martens aim to raise close to 1.3 billion pounds (US$1.78 billion) from a London listing of the classic British boot brand, according to a lead manager.
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Corporate News
Hartalega quarterly net profit tops RM1bil for the first time as Covid-19 rages onÂ
KUALA LUMPUR: Hartalega Holdings Bhd delivered another record quarterly profit and predicted that demand for medical gloves will continue to outstrip supply for the next few years.
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Property
IGB REIT says retail centres to bear the brunt of MCO 2.0
KUALA LUMPUR: Mall operator IGB Real Estate Investment Trust (IGB) said its earnings slipped in the fourth quarter and warned that the outlook for 2021 has worsened with the re-introduction of the movement control order (MCO).
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Markets
KLCI tumbles 20 points; over 1,100 stocks in red
KUALA LUMPUR: Bursa Malaysia sank into the red at closing with over 1,100 counters falling as heavy selling continued to bash down blue chips and small-cap stocks. KUALA LUMPUR: Bursa Malaysia sank into the red at closing with over 1,100 counters falling as investors continued to dump their shares amidst a lack of fresh catalysts.
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Markets
Furniture maker Sern Kou sees 12.3% stake traded off-market
KUALA LUMPUR: Furniture maker Sern Kou Resources Bhd saw 32.05 million of its shares traded off market in the afternoon on Monday.
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Corporate News
Bioalpha signs MoU with Zuellig Pharma for vaccine distribution
KUALA LUMPUR: Bioalpha Holdings Bhd's subsidiary has entered a memorandum of understanding with Zuellig Pharma Sdn Bhd for the import and distribution of the Covid-19 vaccine in Malaysia.
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Commodities
Gold eases on doubts over US stimulus passage
BENGALURU: Gold prices inched lower on Monday due to concerns that a massive economic stimulus in the United States may not be passed smoothly, although a weaker dollar limited bullion's losses.
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Corporate News
Summary of business stories from Jan 18 to 24
Here's the summary of top stories on StarBiz Online last week
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Corporate News
PTP posted record throughput of 9.8m TEUs last year
KUALA LUMPUR: Port of Tanjung Pelepas’ (PTP) throughput rose by more than 8% to a record of 9.8 million TEUs (twenty-equivalent units) in 2020, reaping from its more than RM700mil investment in its port.
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Property
Bintai Kinden teams up with ASX-listed International Equities
KUALA LUMPUR: Bintai Kinden Corp Bhd has inked a collaboration agreement with Australia-listed International Equities Corp Ltd to undertake two mixed property development and management projects in Melaka and Penang.
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Economy
Indonesia sees risks to growth on virus, natural disasters
JAKARTA: Indonesia sees downside risks for economic growth in the first quarter as the government imposed more restrictions to curb a worsening coronavirus outbreak, said the finance minister.
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Corporate News
Tencent’s US$232b rally triggers frenzy in shares, options
HONG KONG: Hong Kong’s equity traders can’t get enough of Tencent Holdings Ltd., the $930 billion giant that’s on pace for its biggest ever monthly gain.
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Economy
Indonesia FDI picks up in 4Q but down in 2020 due to virus impact
JAKARTA: Foreign direct investment (FDI) into Indonesia in the fourth quarter last year rose 5.5% to 111.1 trillion rupiah ($7.92 billion), despite a slowdown earlier in the year, data from the country's investment board showed on Monday.
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Corporate News
Ge-Shen subsidiary reports 10 Covid-19 cases among workers
KUALA LUMPUR: Ten workers of Ge-Shen Corporation Bhd’s subsidiary have been tested and confirmed positive for the Covid-19.
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Plantations
Labour shortage more serious than fall in CPO price
KUALA LUMPUR: Labour shortage is more detrimental to both estates and smallholders in Malaysia’s oil palm industry than a global price drop, according to a Khazanah Research Institute (KRI) study.
