Latest
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Corporate News
Sapura Energy gets US$1.8bil worth of PLSV-related contracts
PETALING JAYA: Sapura Energy Bhd’s joint venture entities, Seabras Sapura Holding GmbH and Seabras Sapura Participacoes SA, have been awarded contracts worth US$1.8bil for its six multi-purpose pipe-laying support vessels (PLSVs), as part of a competitive Petrobras tender process.
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Corporate News
OCK enters tower leasing agreement, marks debut into Laos
PETALING JAYA: OCK Group Bhd has entered into a tower leasing agreement with Best Telecom Co Ltd, marking the group’s official entry into Laos.
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Banking
AmBank, CGC announce additional RM400mil under the SME Portfolio Guarantee Scheme
KUALA LUMPUR: AmBank Group has announced an additional RM400mil financing under the SME Portfolio Guarantee Scheme with guarantee from Credit Guarantee Corp Malaysia Bhd (CGC).
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Markets
FBM KLCI soars above 1,600, highest in over two years
KUALA LUMPUR: Share prices on Bursa Malaysia marched higher for the fourth straight trading session, as investors piled into blue chip stocks.
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Corporate News
Bursa reach to bridge investor-remisier gap
KUALA LUMPUR: Bursa Malaysia Bhd has unveiled Malaysia’s first profiling platform featuring and facilitating better connections between representatives of dealers and investors, beyond traditional channels.
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Corporate News
BP profits drop to US$2.7bil, refinery outage offsets higher output
LONDON: BP reported on Tuesday first-quarter earnings of $2.7 billion, down 40% from a year earlier and missing forecasts due to lower energy prices and a U.S. refinery outage, even as oil and gas production increased.
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Banking
UOB Malaysia launches Masterclass to help businesses for EU's Carbon Border Policy
KUALA LUMPUR: United Overseas Bank (M) Bhd (UOB Malaysia) has launched the Carbon Border Adjustment Mechanism (CBAM) Supply Chain Imperatives Masterclass aimed at assisting businesses in comprehending and preparing for the European Union's (EU) CBAM requirements set for 2026.
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Energy
Oil climbs after Israel strikes Gaza, truce talks continue
SINGAPORE: Oil prices edged higher on Tuesday after Israel struck Rafah in Gaza, while negotiations for a ceasefire with Hamas continued without resolution.
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Economy
Overcapacity talk won't affect MNCs' commitment
EXAGGERATING the "China overcapacity" narrative will impede the advancement of high-quality production capacity globally but will not discourage multinational corporations from expanding their presence in the country, said market watchers and foreign business executives.
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Corporate News
Nintendo expects to sell 13.5 mln Switch units this year
TOKYO: Nintendo said on Tuesday it expects to sell 13.5 million Switch consoles in the financial year ending March 2025.
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Corporate News
M&A Securities and Newparadigm back Siab’s acquisition of Taghill with rights issue
KUALA LUMPUR: Siab Holdings Bhd has announced its plans to raise approximately RM103.98mil through private placement, of which RM12mil has been completed on Dec 28, 2023, and rights issue with warrants.
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Energy
Saudi Aramco maintains dividend despite lower net income in Q1
DUBAI: Saudi Arabia's state-owned oil giant Aramco reported a 14.4% fall in first-quarter net profit on the back of lower oil prices and volumes sold.
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Corporate News
Pekat unit in negotiations over purchase of stake in electrical power solutions firm
KUALA LUMPUR: Pekat Group Bhd's wholly-owned subsdiary Pekat Teknology Sdn Bhd has entered into negotiations with Apex Power Industry Sdn Bhd for the potential acquisition of equity in EPE Switchgear (M) Sdn Bhd.
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Markets
Asia shares rise on rate cut bets; Aussie slips on RBA
SINGAPORE: Asian shares made 15-month highs on Tuesday on renewed confidence of U.S. interest rate cuts, while a weaker yen and a small dip in the Australian dollar kept the dollar steady.
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Banking
UBS reports first profit since taking over Credit Suisse
ZURICH: UBS reported net income of $1.8 billion for January-March, its first quarterly profit since it took over fallen rival Credit Suisse.
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Corporate News
Amazon to spend nearly US$9bil to expand cloud infra in Singapore
AMAZON.com plans to spend S$12 billion ($8.88 billion) over the next four years to expand its cloud computing infrastructure in Singapore, Amazon Web Services (AWS) said on Tuesday.
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Markets
FBM KLCI pushes past 1,600
KUALA LUMPUR: Malaysia's benchmark stock index continued to ride the positive momentum higher as foreign funds returned amid expectations of a dovish US central bank response to recent economic data.
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Forex
Ringgit opens higher against US$, other major currencies
KUALA LUMPUR: The ringgit opened slightly higher on Tuesday, driven by mild demand for the domestic note and the weakening of the greenback due to lower US Treasury yields, analysts said.
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Corporate News
KLK's recruitment issues to be short-lived, say analysts
KUALA LUMPUR: The fallout from recent allegations regarding Kuala Lumpur Kepong Bhd's (KLK) recruitment agency in Nepal is likely to be contained, says analysts, as the group works towards avoiding further escalation of the issue.
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Markets
Renewed bets on Fed cuts boost KLCI to 1,600
KUALA LUMPUR: Rising global sentiment over renewed bets the US Federal Reserve will cut interest rates this year is keeping the rally going on Bursa Malaysia.