Latest
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Corporate News
Fajarbaru wins RM13.33mil contract from Malaysia Airports
KUALA LUMPUR: Fajarbaru Builder Group Bhd has secured an RM13.33mil contract from Malaysia Airports (Sepang) Sdn Bhd to improve and upgrade a fire engineering system at KLIA Terminal 1 of the KL International Airport.
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Corporate News
Fitters Diversified bags RM26.1mil subcontract from IJM Construction
KUALA LUMPUR: Fitters Diversified Bhd’s wholly-owned subsidiary Fitters Engineering Services Sdn Bhd has secured a RM26.1mil subcontract from IJM Construction Sdn Bhd.
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Banking
CIMB Thai 1Q net profit dips 24.6% to 626.1 million baht
KUALA LUMPUR: CIMB Thai Bank PCL, a 94.83%-owned unit of CIMB Group Holdings Bhd recorded a consolidated net profit of 626.1 million baht in the first quarter of 2024 (1Q24), a year-on-year (YoY) decline of 24.6% or 204 million baht.
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Telcos
Maxis ready to build another 5G network, fully supports govt 5G delivery model
KUALA LUMPUR: Maxis Bhd has reiterated its readiness to build the second 5G network and expressed full support for competition following the government's decision for a dual-model approach to 5G network deployment.
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Corporate News
Iconic Worldwide raises RM95.6mil in oversubscribed rights issue
KUALA LUMPUR: Iconic Worldwide Bhd’s rights issue exercise and free warrants undertaken by the group have been oversubscribed.
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Property
Merdeka 118 tower receives LEED Platinum certification
KUALA LUMPUR: The Merdeka 118 tower project has been awarded the prestigious Leadership in Energy and Environmental Design (LEED) Platinum certification in the LEED v2009 Core & Shell rating system, marking it as the first mega-tall building in Malaysia to receive this recognition.
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Corporate News
Hextar Capital to diversify into construction and project management services
KUALA LUMPUR: Hextar Capital Bhd (HCB) plans to expand its business by venturing into construction and project management services, aiming to capture new opportunities and enhance its footprint in the construction and civil engineering sector.
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Corporate News
Genting Plantations expects demand for palm products to advance in 2024
KUALA LUMPUR: Demand for palm products is projected to advance due to better economic conditions in 2024.
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Markets
FBM KLCI up despite market weakness, Middle East tension
KUALA LUMPUR: The FBM KLCI finished higher on Friday despite a generally weak market, partly due to increased tension in the Middle East that reduced investors' appetite for risk.
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Forex
Surging dollar pressures Asian FX; S.Korean won leads losses
EMERGING Asian equities and currencies were sharply lower on Friday as reports Israel attacked Iran in an escalation of tensions in the Middle East led investors to flee to safe-haven assets, including the U.S. dollar.
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Banking
China set to keep lending benchmark LPRs unchanged in April
SHANGHAI: China is widely expected to leave benchmark lending rates unchanged on Monday, a Reuters survey showed, as encouraging first quarter economic data reduces the urgency for further monetary stimulus to aid a fragile recovery.
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Commodities
Gold rises as safe-haven appeal boosted by Israel's attack on Iran
GOLD prices jumped on Friday as reports that Israel had attacked Iran prompted fears of a wider regional conflict, increasing bullion's safe-haven appeal.
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Markets
MKH Oil Palm IPO oversubscribed by 8.4 times
KUALA LUMPUR: MKH Oil Palm (East Kalimantan) Bhd’s (MKHOP) initial public offering (IPO) has been oversubscribed by 8.4 times ahead of its listing on the Main Market of Bursa Malaysia Securities Bhd.
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Banking
Bank Negara adds four companies to Financial Consumer Alert list
KUALA LUMPUR: Bank Negara has added four companies to its Financial Consumer Alert (FCA) list.
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Auto
Nissan cuts annual operating profit estimate by 14.5% on lower sales
TOKYO: Nissan Motor slashed its annual operating profit estimate by 14.5% on Friday citing lower-than-expected vehicle sales and other factors.
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Energy
Oil surges as reports of Israeli strike on Iran roil markets
OIL prices jumped on Friday as reports that Israel had attacked Iran roiled markets and sparked concerns that Middle East oil supply could be disrupted.
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Cryptocurrency
Bitcoin slides below US$60,000 on reports Israel strikes Iran
CRYPTOCURRENCIES fell heavily and bitcoin broke below $60,000 on Friday in a rush out of risky assets following reports of an Israeli missile strike on Iran.
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Markets
Stocks sink, oil jumps after Israeli attack on Iran
TOKYO: Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports Israel attacked Iran in a continuing series of assaults that have increased concerns of a wider Middle East conflict.
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Corporate News
Yinson Production successfully places US$500mil bond issue
KUALA LUMPUR: Yinson Production Offshore Pte Ltd (Yinson Production) has secured a successful placement of a US$500 million senior secured bond issue, marking its debut in international capital markets.
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Corporate News
EG Industries expands partnership with US-based R&D firm
KUALA LUMPUR: EG Industries Bhd has signed a second letter of intent with US-based Cambridge Industries Group (CIG) to produce the next-generation 1.6T advanced high-speed optical signal transmitter and receiver for 5G wireless networks at EG Industries’ new Smart Factory 4.0 in Penang (PG2).