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Axiata posts RM709mil profit in Q1

KUALA LUMPUR: Axiata Group Bhd posted one of its best quarterly results ever led by strong revenue growth overseas and one-time gain from the disposal of a stake in a telecommunication company in Singapore, as well as other non-core ventures.

KLCI closes in the red again on late selling

KUALA LUMPUR: Investors' hopes of a firmer close for Bursa Malaysia evaporated as late selling pressured by foreign funds on key stocks including Sime Plantation, Tenaga Nasional and IHH Healthcare sent the FBM KLCI below the key 1,600 level.

Malaysian tech stocks down after US blacklists Huawei

PETALING JAYA: Technology counters on Bursa Malaysia are feeling the heat following the escalation of trade tensions between the United States and China with restrictions imposed by the Trump-led administration against China’s telecommunication giant Huawei.

MCMC issues M&A guidelines for telecoms sector

PETALING JAYA: The telecoms industry regulator, the Malaysian Communications and Multimedia Commission (MCMC), has issued a set of guidelines on mergers and acquisitions (M&As) that will prohibit entities from lessening the level of competition in the marketplace and it can take action against the companies if breaches are found.

MCMC chairman Al-Ishsal Ishak said: “While M&As can allow our companies to achieve efficiency through greater scale and scope, as well as gain access to new technologies and markets, they can also serve to reduce competition and result in market dominance."

Selling of IHH pushes KLCI into the red

KUALA LUMPUR: Foreign selling of key stocks including IHH Healthcare and Genting in afternoon trade on Tuesday pushed the FBM KLCI into the red though Tenaga and RHB Bank help provided some support.