Latest
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Corporate News
Opcom expands into satellite telecom via 18% stake purchase in Binacom
KUALA LUMPUR: Opcom Holdings Bhd's wholly-owned subsidiary Opcom VC Sdn Bhd is expanding into the satellite communications space by acquiring 70 million shares, representing 18.03% equity interest, in Binasat Communications Bhd (Binacom) for RM39.2mil or 56 sen per share.
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Markets
Investors stay to the sidelines pending Fed announcement
KUALA LUMPUR: Bursa Malaysia was kept on the back foot in morning trade as investors remain cautious over the US Federal Reserve's rate guidance tonight amid surging oil prices.
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Markets
Minox aims to raise RM22.5mil from ACE Market IPO
KUALA LUMPUR: Minox International Group Bhd aims to raise RM22.5 million from its initial public offering (IPO) on the ACE Market, comprising a public issue of 90 million new ordinary shares.
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Corporate News
Major US firms disclose plans to expand to Malaysia
NEW YORK: Two major United States (US) electrical and electronic firms are set to expand their operations to Malaysia, one of which is expected to invest at least RM500 million.
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Economy
China keeps benchmark rates unchanged as economy finds footing
SHANGHAI/SINGAPORE: China kept benchmark lending rates unchanged at a monthly fixing on Wednesday, in line with expectations, as fresh signs of economic stabilisation and a weakening yuan reduced the need for immediate monetary easing.
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Aviation
Boeing slightly raises China 20-year demand outlook to 8,560 new planes
SHANGHAI: Boeing on Wednesday slightly increased its annual 20-year forecast for new plane deliveries to China, citing economic growth and increasing demand for domestic travel.
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Forex
Ringgit bounces slightly higher from oversold condition
KUALA LUMPUR: The ringgit opened slightly higher against the US dollar this morning due to mild demand for the domestic note.
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Analyst Reports
Pick up in Genting Malaysia's ops reaffirms recovery
KUALA LUMPUR: Genting Malaysia Bhd's key Malaysian operations are seeing the return of tourist arrivals, with operating capacity largely returning to pre-pandemic levels, says CGS-CIMB Research.
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Markets
Investors stay cautious as Fed decision approaches
KUALA LUMPUR: Investors on Bursa Malaysia may keep to the sidelines as the US Federal Reserve announces its decision on the interest rate tonight.
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Commodities
Oil prices ease as investors take profits
Oil prices rose to 10-month highs on Tuesday before easing, as investors took profits following three sessions of gains that followed extended production cuts from Saudi Arabia and Russia.
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Analyst Reports
Trading ideas: Cypark Resources, KLK, Land & General, Epicon and Scientex Packaging
KUALA LUMPUR: Stocks to watch for on Wednesday include Cypark Resources, KLK, Land & General, Epicon and Scientex Packaging, said Apex Research.
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Markets
US stocks close lower as investors take cover ahead of Fed decision
Wall Street lost ground on Tuesday, with risk-off sentiment weighing as the US Federal Reserve convened for its much-anticipated two-day monetary policy meeting.
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Corporate News
Mercury makes promising debut on ACE Market
Making its debut on the ACE Market of Bursa Malaysia at 27 sen per share, Mercury Securities Group Bhd has a positive outlook for the next few years to come.
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Corporate News
Takaful Malaysia sustains strong growth momentum in 1H
The country’s oldest takaful operator Syarikat Takaful Malaysia Keluarga Bhd is expected to face some cost pressures in the form of higher retakaful costs in the second half of the year (2H23).
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Energy
Solar projects to generate RM2bil in EPCC works
About 2.4 gigawatts (GW) of the country’s large-scale solar (LSS) projects have been awarded to date and out of this, about 1.4GW are operational, says Maybank Investment Bank (IB) Research.
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Corporate News
ITMAX’s growth prospects look secure with contract win
ITMAX System Bhd’s long-term growth prospects have strengthened after it secured a contract to provide video surveillance services in Johor Baru.
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Insight
BRI lays new foundation for healthy Africa
The year 2023 is the 10th anniversary of China's Belt and Road Initiative and the 60th anniversary of China's medical aid to Africa. Despite, Africa still faces many medical challenges due to poverty, inadequate infrastructure, and a shortage of human resources.
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Insight
Funds grow bullish on crude
Oil prices rose last week as stockpiles dwindled and Opec extended output cuts. However, bullishness about diesel and other middle distillates waned on signs of a prolonged manufacturing downturn in Europe and China.
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Business
Duolingo tunes in to Chinese learners with English course
Duolingo, a US-based language-learning platform, plans to launch an advanced monolingual English course, seeking to further cater to Chinese learners and betting big on the rapidly growing Chinese market.
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Corporate News
CN Logistics rides on eCommerce boom
Driven by the rise of eCommerce, the logistics industry has witnessed a big boom in recent years, drawing the capital market’s attention and driving industry development and accelerating industry integration.
