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Markets
Nasdaq, S&P set to open higher on tech boost, earnings glee
THE S&P 500 and the Nasdaq were set to open higher on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support.
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Corporate News
Sasbadi reports highest ever quarterly revenue
PETALING JAYA: Sasbadi Holdings Bhd reported its highest-ever quarterly revenue of RM35.02mil for the second quarter ended Feb 29, 2024 (2Q24), due to the robust sales of its academic publications for the 2024 academic year.
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Corporate News
Aneka Jaringan leverages order book for growth
KUALA LUMPUR: Aneka Jaringan Holdings Bhd will capitalise on its current order book of RM233.16mil as of Feb 29, 2024, prioritising the timely completion of ongoing projects to maintain its momentum moving forward, according to managing director Pang Tse Fui.
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Corporate News
Chin Hin Group to develop two lands with combined GDV of RM1.08bil
KUALA LUMPUR: Chin Hin Group Property Bhd’s (CHGP) unit, Chin Hin Property (Segambut) Sdn Bhd has inked an agreement with New York Empire Sdn Bhd and Kar Sin Bhd to develop a freehold land in Segambut, Kuala Lumpur, with an estimated gross development value (GDV) of RM685.1 million.
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Corporate News
CLMT 1Q net profit rises to RM33.49mil on higher occupancies, positive rental reversions
KUALA LUMPUR: CapitaLand Malaysia Trust's (CLMT) net profit for the first quarter ended March 31, 2024 (1Q 2024) rose to RM33.49 million from RM12.04 million a year earlier.
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Forex
Ringgit ends marginally lower on firmer US dollar index
KUALA LUMPUR: The ringgit closed marginally lower on Wednesday on firmer US dollar Index (DXY) despite the sluggish United States (US) manufacturing Purchasing Managers' Index (PMI) data yesterday.
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Business
MoF: Govt to establish high-level facilitation platform to oversee potential, approved strategic investments
KUALA LUMPUR: A meeting with 70 financial fund investors and corporate members at the recently concluded Joint Investors Meeting in London has touched on the MADANI government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MoF).
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Corporate News
Meta Bright signs RM24mil leasing contract with Australia company
PETALING JAYA: Meta Bright Group Bhd (MBGB), via its wholly-owned Australian subsidiary Meta Bright Australia Pty Ltd, has secured a new equipment leasing contract from Australian copper mining company Mt Cuthbert Resources Pty Ltd (MCR).
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Corporate News
OCR Group to develop RM313mil residential project in Rawang
KUALA LUMPUR: OCR Group Bhd’s indirect subsidiary OCR Templer Sdn Bhd plans to develop a landed residential project on 7.44 hectares in Templer, Rawang, with an estimated gross development value (GDV) of RM313 million.
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Corporate News
Legacy Credit emerges as substantial shareholder in VCI Global
KUALA LUMPUR: Legacy Credit Sdn Bhd announced a significant investment exceeding a 5% stake through a private placement in Nasdaq-listed VCI Global Limited.
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Corporate News
Fajarbaru wins RM252mil contract from WCT
PETALING JAYA: Fajarbaru Builder Group Bhd has accepted a letter of award from WCT Holdings Bhd in respect of main building works for a two-phase residential development project in Johor Baru, Johor, worth RM252.26mil.
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Corporate News
Axis-REIT disposes of property in Johor for RM162mil
PETALING JAYA: Axis Real Estate Investment Trust (Axis-REIT) is proposing to dispose of the Axis Steel Centre@SiLC in Nusajaya, Johor to a data centre operator for RM162mil.
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Economy
Data centres make up the bulk of RM144.7bil in approved digital investments
KUALA LUMPUR: The Ministry of Investment, Trade and Industry (MITI) announced today that of the RM144.7 billion approved digital investments between 2021 and 2023, data centres make up RM114.7 billion, creating 39,231 job opportunities.
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Business
Tengku Zafrul: 2,214 EV Charging stations installed, Miti maintains 10,000 target by 2025
KUALA LUMPUR: A total of 2,214 electric vehicle (EV) charging stations were installed as at March 20, 2024, as the Ministry of Investment, Trade and Industry (MITI) maintains its commitment to developing the EV charging infrastructure and getting the targeted 10,000 charging points in place by 2025.
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Markets
FBM KLCI closes at highest in 2 years
KUALA LUMPUR: Continuous buying by funds and gains on heavyweights helped propel the benchmark FBM KLCI index to its highest in two years.
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Corporate News
Country Garden allowed to postpone first payments on three onshore bonds
Embattled Chinese property developer Country Garden said it has won bondholders' approval to further delay payments on three onshore bonds to September, in order to give it more time to raise funds.
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Banking
Thai c.bank says intervenes to ease baht volatility, policy rate 'robust'
BANGKOK: The Bank of Thailand (BOT) has intervened in currency markets at times to ease any excessive moves in the baht while the current policy rate is robust and conducive to economic recovery, central bank officials said on Wednesday.
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Banking
Indonesia's central bank delivers surprise rate rise to support rupiah
JAKARTA: Indonesia's central bank delivered a surprise rate hike on Wednesday, stepping up efforts to support the rupiah currency against selling linked to global risk aversion and a delay in the expected timing of any U.S. policy easing.
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e-Commerce
E-commerce bolsters consumption
CHINA's burgeoning e-commerce sector has played a vital role in bolstering the recovery of consumption, improving people's livelihoods and shoring up the economy as an increasing number of shoppers opt for high-quality and diversified products via online marketplaces, experts said.
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Markets
ACE Market-bound Farm Price aims to raise RM24.5mil from IPO
KUALA LUMPUR: Farm Price Holdings Bhd aims to raise RM24.5 million from its initial public offering (IPO).