Corporate News

Centurion to dispose of assets to KWAP for RM227mil

KUALA LUMPUR: Retirement Fund (Incorporated) (KWAP) plans to acquire two Centurion Corp Ltd’s workers’ accommodation assets for RM227mil.

Retail

RGM revises 4Q retail sales growth rate estimate

PETALING JAYA: The Retail Group Malaysia (RGM) has revised down its growth rate estimate in retail sales for the fourth quarter of 2023 (4Q23) from the initial 3% in September 2023 to a more conservative 2.1%.

Banking

Banks to record resilient operating performance IN 2024, SAYS S&P GLOBAL RATINGS

KUALA LUMPUR: Malaysian banks will overcome external headwinds to deliver a resilient operating performance in 2024 with strong domestic economic conditions expected to support borrowers and limit slippages into non-payment, says S&P Global Ratings.

Metro News

Programme teaching pupils in Kuantan about healthy living

THE pupils of SK Kampong Padang in Kuantan, Pahang, benefitted from the “Jom Hidup Sihat” programme organised by Pasdec Holdings Bhd together with KPJ Pahang Specialist Hospital.

Analyst Reports

IHH Healthcare growth momentum to continue

PETALING JAYA: IHH Healthcare Bhd’s growth momentum remains intact as the group expands its business in tandem with rising demand for healthcare services.

Corporate News

UEM Edgenta acquires two UAE firms for RM55mil

PETALING JAYA: UEM Edgenta Bhd’s indirect wholly-owned subsidiary, Edgenta International Investments LLC (EII), has entered into a sale and purchase agreement (SPA) and shareholders’ agreement with United Arab Emirates (UAE)-based NW Kaizen Holding Ltd to acquire 60% equity interests in Kaizen Owner Association Management Services LLC and Kaizen AMS Property Supervision LLC.

Business

Mitec clinches coveted global award

PETALING JAYA: The Malaysia International Trade and Exhibition Centre (Mitec) has won the coveted world’s leading meetings and conference centre 2023 title at the World Travel Awards (WTA) grand final gala ceremony 2023 in Dubai recently.

Metro News

DBKL set to acquire land in encroachment issue

KUALA LUMPUR City Hall (DBKL) is set to initiate legal proceedings to acquire portions of private land on Jalan Bukit Desa in Taman Desa, where a public road was constructed decades ago.

Business

Cautious optimism over 5G rollout

KUALA LUMPUR: Analysts have expressed cautious optimism about the agreements signed by five Malaysian telcos, interpreting them as a collaborative effort to expedite the rollout of the 5G network in Malaysia under a dual wholesale network structure.

Markets

Bursa ends lower, tracking regional peers

KUALA LUMPUR: Bursa Malaysia closed lower yesterday in tandem with the weaker performance in most regional markets as investors were cautiously awaiting a slew of key economic data from several countries, says a dealer.

Corporate News

Eita unit bags RM56mil job from TNB

KUALA LUMPUR: Eita Resources Bhd’s 60%-owned subsidiary, TransSystem Continental Sdn Bhd (TSC), has bagged a RM56.31mil contract from Tenaga Nasional Bhd for the rehabilitation of PMU 132/11 kilovolts (kV) Gurun in Kedah.

Corporate News

SCIB gets RM17mil contract

PETALING JAYA: Sarawak Consolidated Industries Bhd (SCIB) has accepted a letter of award and acceptance worth RM16.8mil for substantial contract works from S & I Urban Designers Sdn Bhd.

Forex

Stronger ringgit expected on Fed rate hike pause

KUALA LUMPUR: The peaking of key policy rates in developed economies is expected to bolster the strengthening of the ringgit, says Bank Negara deputy governor Adnan Zaylani Mohamad Zahid.

Corporate News

Citaglobal in RM9.75bil Masdar-TNB solar tie-up

KUALA LUMPUR: Citaglobal Bhd has received an expression of interest from TNB Renewables Sdn Bhd (TRe), a wholly-owned subsidiary of Tenaga Nasional Bhd (TNB), to participate in the development of renewable energy (RE) projects in Malaysia.

Corporate News

UMW to sell land to Perodua for RM52mil

PETALING JAYA: UMW Holdings Bhd (UMW) is disposing of a 22.22-acre piece of land in Serendah, Selangor to Perusahaan Otomobil Kedua Sdn Bhd (Perodua) for RM52.27mil.

Business

Hedge fund veteran slams green ‘echo chamber’

LONDON: Jeff Ubben, the veteran hedge fund manager who’s just closed his sustainable investing firm, is calling out what he’s dubbed the “echo chamber” of traditional climate summitry.

Business

Vietnam studies foreign examples for carbon trading

HANOI: Vietnam is learning from international experience to develop a carbon market to ensure its suitability for the country’s legal framework and infrastructure.

Thailand

Indoor farming taking root vertically

In the past year, pedestrians in Bangkok’s Sukhumvit Road have been drawn to a pinkish hue from a large window on the busy street.

Economy

Shrinking pool of workers brings change to Japan

Tokyo: Japan’s shrinking and ageing population is spurring efforts by businesses to find new ways to keep the elderly employed for longer, as they seek to address a chronic and expanding labour shortage.

Banking

Vietnam to inspect credit-growth management

HO CHI MINH CITY: The government will conduct an inspection of credit-growth management by the central bank in response to low credit growth.