Latest
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Corporate News
Guan Chong in good position even with high cocoa prices
PETALING JAYA: RHB Research remains bullish on cocoa grinder Guan Chong Bhd’s anticipated robust performance in financial year 2024, driven by margin expansion and higher revenue.
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Economy
Early GDP readings in sync with forecasts
PETALING JAYA: The advance estimate for Malaysia’s first-quarter economic growth matches market forecasts of 3.9%, led by a resilient services sector and a recovery in manufacturing activity.
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Corporate News
EPIC aims for 10% increase in revenue this year
KUALA TERENGGANU: Eastern Pacific Industrial Corp Bhd (EPIC), a provider of integrated oil and gas solutions, aims to increase its revenue by 10% to RM375.5mil this year, compared with RM344mil in 2023.
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Corporate News
Keyfield makes strong debut on Main Market
PETALING JAYA: Keyfield International Bhd debuted on the Main Market of Bursa Malaysia with an opening price of RM1.70 per share – a premium of 89% over its initial public offering (IPO) price of 90 sen per share.
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Property
Norwegian fund turns developer in UK space
LONDON: Norway’s US$1.6 trillion sovereign wealth fund kicked off a glitzy property-buying spree in London more than a decade ago. Now it’s trying to figure out ways to keep the shine on some of those increasingly tired trophy buildings.
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Corporate News
Malakoff predicted to return to profitability in 1Q
PETALING JAYA: Independent power producer Malakoff Corp Bhd is expected to return to the black in the first quarter of financial year 2024 (1Q24) on the back of improvement in negative fuel margins, according to TA Research.
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Corporate News
IHH to maximise bed capacity at its hospitals
KUALA LUMPUR: IHH Healthcare Bhd will continue to look for acquisitions to grow its operations as well as maximising capacity by allocating more beds in its hospitals.
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Commodities
Oil price forecast to rise on Mid East tension
PETALING JAYA: Uncertainty arising from recent geopolitical tensions in the Middle East is likely to support oil prices in the near term.
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Banking
Alliance Bank’s growth likely to rise in 2024
PETALING JAYA: Even with shares of local banks trending up a fair bit, Hong Leong Investment Bank Research (HLIB Research) finds Alliance Bank Malaysia Bhd’s risk-reward profile to be tilted to the upside.
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Economy
Exports expected to continue doing well this year
PETALING JAYA: The contraction in Malaysia’s exports last month is not expected to affect the recovery of external demand for the country’s goods through 2024.
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Business
China property tycoon faces debt woes
HONG KONG: A Chinese tycoon who had snapped up mansions and offices in Hong Kong and London faces demands from banks to repay more than US$200mil of loans for which he and his family had provided personal guarantees, in a sign of further liquidity problems for the businessman and his property-investment company.
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Banking
Maybank targets long-term investors
KUALA LUMPUR: Malayan Banking Bhd (Maybank) expects at least 20,000 customers to sign up for its new goal-based product which aims to encourage a long-term investment strategy.
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Business
Elevating the country to be a leading startup destination
KUALA LUMPUR: It is an ambitious target for Malaysia to be in the top 20 startup ecosystems in the world by 2030, given that many countries including Singapore, had a head start in this area.
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Telcos
Axiata unit expects 8% revenue rise from merger
PETALING JAYA: Axiata Group Bhd’s 2025 net profit will be diluted by 7% after the merger of its unit Dialog Axiata PLC with Bharti Airtel (Airtel Lanka), in Sri Lanka.
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Corporate News
Pasukhas CEO Wan resigns
PETALING JAYA: Pasukhas Group Bhd has announced that its chief executive officer (CEO) Wan Thean Hoe has resigned from his post effective yesterday.
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Property
Axis-REIT in RM352mil property buy
PETALING JAYA: Axis real estate investment trust (Axis-REIT) is proposing to acquire an industrial complex and an open storage yard in Klang, Selangor from Amsteel Mills Sdn Bhd (AMSB) for RM351.8mil.
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Economy
Enhancing the venture capital ecosystem
KUALA LUMPUR: The government has launched a wave of passes, geared towards supercharging the venture capital (VC) ecosystem and fostering a conducive environment.
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Star Biz7
Gaza — warmongering and genocide
Today, Israel is trying to prove that the world is but her stage. Since Oct 7, Israel has killed thousands of innocent Palestinians under the guise of war. There is no moral justification for this war.
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Corporate News
Econframe 2Q revenue higher at RM27mil
PETALING JAYA: Econframe Bhd expects the 70% stake acquisition of ETA World Sdn Bhd in January 2024 to bode well for the group.
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Aviation
Air NZ shares fall as earnings outlook cut on stiff competition
AUCKLAND: Air New Zealand trimmed its annual earnings estimates, citing economic headwinds and a cost-of-living crisis leading to softer revenue in domestic and North American markets, sending the carrier’s shares to a near two-year low.Shares of Air NZ slipped as much 3.5% to 55 NZ cents, hitting their lowest level since July 1, 2022.