Commodities

Malaysia’s palm oil sector in advantageous position despite West Asia conflict

KUALA LUMPUR: Malaysia is in an extremely advantageous position as one of the world's top palm oil exporters, continuing to supply edible oils to countries which are grappling with rising food prices and fertiliser supply disruptions due to the closure of the Strait of Hormuz.

Corporate News

PTT wins RM31.7 mil construction job, bags warehouse automation deal

PETALING JAYA: PTT Synergy Group Bhd's (PTT) wholly-owned subsidiary, Pembinaan Tetap Teguh Sdn Bhd (PTTSB) has accepted a contract from Sime Darby Property (Bukit Raja) Sdn Bhd to undertake construction and earthworks and ancillary works.

Banking

Affin Bank gets Bank Negara nod for RM50mil Pheim AM acquisition

KUALA LUMPUR: Affin Bank Bhd has received approval from Bank Negara Malaysia (BNM) for its proposed acquisition of Pheim Asset Management Sdn Bhd for RM50mil cash.

Forex

Ringgit revisits 4.02 level against US dollar on easing energy supply concerns

KUALA LUMPUR: The ringgit rebounded to the 4.02 level against the US dollar at the close today, as the Iran-Oman energy transit talks eased concerns over supply disruptions.

Corporate News

IJM denies prior talks on Sunway offer, reiterates rejection stance

KUALA LUMPUR: IJM Corp Bhd has clarified recent media reports on Sunway Bhd's conditional voluntary takeover offer (VTO), reiterating that the proposal was not discussed with the company prior to its formal announcement and maintaining its recommendation for shareholders to reject the offer.

Corporate News

YTL Cement takes control of Cepco with RM103.8mil stake

KUALA LUMPUR: YTL Cement Bhd has emerged as the controlling shareholder of Concrete Engineering Products Bhd (Cepco), following an acquisition of shares worth RM103.8mil

Corporate News

Nextgreen secures RM50mil working capital facility from Bank Rakyat

PETALING JAYA: Nextgreen Global Bhd (NGGB) accepted a RM50mil working capital financing facility from Bank Kerjasama Rakyat Malaysia Bhd.

Economy

Anwar, AIIB president discuss sustainable development agenda

KUALA LUMPUR: Prime Minister Datuk Seri Anwar Ibrahim and the president and chair of the Board of Directors of the Asian Infrastructure Investment Bank (AIIB), Zou Jiayi, have discussed a sustainable development agenda covering the transition to green energy as well as the empowerment of digital infrastructure and advanced technology.

Corporate News

Kee Ming wins RM6.7mil data centre subcontract

KUALA LUMPUR: Kee Ming Group Bhd's wholly-owned unit Kee Ming Electrical Sdn Bhd has secured a RM6.7mil subcontract for electrical and commissioning works at a hyperscale data centre project in Elmina Business Park 1A.

Corporate News

TSR Capital secures RM34mil flood mitigation contract

KUALA LUMPUR: TSR Capital Bhd's wholly-owned unit TSR Bina Sdn Bhd has secured a RM34mil contract for a flood mitigation project along the East Coast Expressway (Phase 1).

Markets

Banks weigh on FBM KLCI amid Middle East tensions

KUALA LUMPUR: Bursa Malaysia closed marginally lower on Friday amid quieter regional trading due to Good Friday closures, while Middle East tensions kept investors cautious.

Economy

Matrade aims to boost Malaysia-Uzbekistan trade, taps Central Asia as strategic gateway

KUALA LUMPUR: The Malaysia External Trade Development Corp (MATRADE) is stepping up efforts to strengthen bilateral trade between Malaysia and Uzbekistan, positioning the Central Asian nation as a strategic gateway to the broader regional market.

Aviation

Price hikes, outlook cuts - What airlines are doing as fuel costs surge

A surge in jet fuel prices driven by the U.S.-Israeli war on Iran has upended the global aviation industry, forcing airlines to raise fares and revise financial outlooks.

Markets

China stocks decline for third straight week on Mideast jitters

SHANGHAI: China stocks slipped on Friday, decliningfor the third straight week, as uncertainties in the Middle East reinforced a risk-averse mood ahead of a local holiday. Hong Kong market was closed for the Easter holiday.

Markets

Asian stocks edge higher in holiday-thinned trading

SOUTH Korean equities led emerging Asian stocks higher on Friday, with muted trading volumes across major markets due to public holidays, while investors kept a close eye on developments in the Middle East conflict.

Banking

BOJ keeps rate‑hike door open even as Iran war squeezes firms

TOKYO: The Bank of Japan will keep raising interest rates if its economic forecasts hold, a senior central bank official said, reinforcing a tightening bias even as fresh surveys show firms feeling the pinch of rising fuel costs linked to the Iran war.

Business

Trump vows to hit more Iranian infrastructure as nations seek to open Hormuz

WASHINGTON/CAIRO: President Donald Trump said the U.S. "hasn't even started destroying what's left in Iran", reiterating vows to increase the ferocity of attacks on its infrastructure, as dozens of countries sought ways to restart vital energy shipments through the Strait of Hormuz.

Insurance

LIAM appoints Pauline Teoh as new president

KUALA LUMPUR: The Life Insurance Association of Malaysia (LIAM) has appointed Zurich Life Insurance Malaysia Bhd chief executive officer (CEO), Pauline Teoh, as its new president.

Markets

Malaysian pharmacy group Big Caring files IPO draft prospectus

KUALA LUMPUR: The operator of Malaysia's largest pharmacy chain, Big Caring Group, is planning an initial public offering, a preliminary prospectus filed with the securities regulator showed.

Economy

New forces reshape how China buys

CHINA's move to cultivate new quality productive forces will help boost domestic demand, encouraging a shift from mass consumption to "personalised, high-quality" consumption, analysts say.