Maybank to stop coal financing
KUALA LUMPUR (May 6): Malayan Banking Bhd (Maybank) will stop financing new coal activities as part of its sustainable agenda.
Trading rebound boosts earnings at France’s SocGen
PARIS, May 6 — Societe Generale will press ahead with an overhaul of its investment bank after its equities division posted its best performance in six years in the first quarter, the French bank sa...
Ringgit retreats to end lower against US dollar
KUALA LUMPUR, May 6 — The ringgit retreated from yesterday’s gains to end lower against the greenback today, as traders turned risk-averse following the enforcement of the movement control order (...
Maybank set five-year plan to achieve 13%-15% ROE
KUALA LUMPUR (May 6): Malayan Banking Bhd (Maybank), Malaysia’s largest lender by market value, unveiled its five-year strategic plan, M25, that aims to accelerate growth in the "next normal".
Nazir Razak: Why no supertaxes on glove companies?
KUALA LUMPUR (May 6): Bank Pembangunan Malaysia Bhd (BPMB) chairman Datuk Seri Nazir Razak is perplexed as to why no supertaxes have been imposed on Malaysia’s glove companies which have made huge p...
Inari Amertron plans RM1bil private placement
KUALA LUMPUR: Inari Amertron Bhd has proposed to issue up to 333 million new shares to investors, as the electronics manufacturing firm seeks fresh funds for working capital, as well as for potential acquisitions and investments.
KLCI snaps losing streak but broader market cautious
Blue chips snapped their losing streak on Thursday on some buying of IHH Healthcare and KL Kepong but gloves lost ground amid a weaker broader market though there were some bright spots in the economic outlook.
Bursa Malaysia stays lower at mid-afternoon
KUALA LUMPUR, May 6 — Bursa Malaysia stayed lower at mid-afternoon, with financial-related counters trading in a mixed mode following Bank Negara Malaysia’s (BNM) decision to maintain the overnigh...
Najib's second SRC trial deferred to August
(This article has been amended for accuracy.) KUALA LUMPUR (May 6): Datuk Seri Najib Razak's second SRC International Sdn Bhd trial for three money laundering charges involving RM27 million, scheduled...
MISC posts RM429.8m net profit in 1Q, div 7c
MISC Bhd posted net profit of RM429.80mil in the first quarter ended March 2021, which was a turnaround from the net losses of RM1.15bil a year ago due to provision for litigation claims a year ago.
Bursa ends morning session lower
KUALA LUMPUR (May 6): Bursa Malaysia remained in the red at the noon break today on persistent selling of healthcare-related counters, led by Supermax Corp Bhd.
Caesars shares jump as CEO forecasts profit potential
LAS VEGAS: Caesars Entertainment Inc shares leaped in extended trading after chief executive officer Tom Reeg gave an upbeat profit forecast and pointed to continuing signs of recovery for the gambling industry.
Prestar rises on higher 1Q earnings
KUALA LUMPUR (May 6): Steel product and equipment maker Prestar Resources Bhd rose by as much as 12% this morning following the 351% increase in its net profit for its first quarter ended March 31, 20...
China suspends economic accord with Australia
BEIJING, May 6 — China said on Thursday it had suspended an economic agreement with Australia, in an apparent tit-for-tat response to Canberra’s scrapping a Belt and Road infrastructure pact and t...
ANZ to give back capital
SYDNEY: Australia and New Zealand Banking Group (ANZ) said it would consider returning capital to shareholders as its first-half profit more than doubled, boosted by the release of funds it had set aside previously to cover potential Covid-19 losses.
JustTonite partners Malaysia Airlines to boost domestic travels
KUALA LUMPUR: JustTonite, a hospitality booking platform, has formed a strategic partnership with Malaysia Airlines to offer MHbiz Pro members an intuitive, seamless and value-for-money domestic travel experience when flying with the national carrier.
JPMorgan, FAB poised to win roles on Adnoc IPO
ABU DHABI: Abu Dhabi National Oil Co (Adnoc) is close to hiring JPMorgan Chase & Co and First Abu Dhabi Bank PJSC to help arrange the potential listing of its drilling business, according to people familiar with the matter.
Labuan IBFC remains resilient amidst pandemic
LABUAN: The Labuan International Business and Financial Centre (IBFC) remains resilient while demonstrating respectable growth across sectors, despite facing unprecedented challenges due to the Covid-19 pandemic.
New capex high for Nestle to meet export demand
PETALING JAYA: Nestle (M) Bhd’s capital expenditure (capex) of RM300mil for 2021 is set to be a new high for the food and beverage (F&B) company, as it plans to ramp up its production capabilities to meet export demand.
JHM drives performance with new JV
PETALING JAYA: JHM Consolidation Bhd’s additional income contribution from two customers is expected to kick in the second half of the year.
April palm oil stocks seen lower as exports jump
PETALING JAYA: Malaysia’s palm oil stockpile in April likely inched lower despite production rising to a six-month high, hampered by robust exports and plummeting imports, a Reuters survey showed yesterday.
Tin market closes at 10-year high
KUALA LUMPUR: The Kuala Lumpur Tin Market (KLTM) closed at a 10-year high of US$30,700 (RM126,560.75) per tonne yesterday, rising by US$450 from US$30,250 per tonne on Tuesday due to stronger demand from buyers, a dealer said.
KLCC REIT bolstered by stable office segment
PETALING JAYA: KLCC Real Estate Investment Trust’s (KLCC REIT) premium asset quality and its stable office segment due to its location will continue to support the trust’s market value, moving forward, in these uncertain times.
PayPal earnings soar on e-commerce boom
SAN FRANCISCO, May 6 — PayPal on Wednesday reported record quarterly profit as the online financial transactions service benefited from an e-commerce trend boosted by the pandemic.
Kenanga shaves earnings estimate on Supermax
KUALA LUMPUR: Kenanga Research, which has an "outperform" recommendation on Supermax Corp Bhd, has lowered its earnings forecast on expectation that average selling prices (ASP) will fall due to moderating glove demand.
Krispy Kreme seeks relisting
NEW YORK: Krispy Kreme said it had confidentially filed with US regulators for an initial public offering (IPO), a move that would result in the doughnut chain’s return to the stock market five years after it was taken private.
Westpac in the limelight
SYDNEY: Australia’s securities regulator is probing Westpac Banking Corp on allegations of insider trading, just months after the country’s second-biggest lender paid a record fine to settle breaches of anti-money laundering laws.
Shares rise as central bank outlines relief measures
BENGALURU: Indian shares gained yesterday, led by heavyweight financials, as the central bank rolled out a series of measures to support the coronavirus-ravaged economy, including allowing certain small borrowers more time to repay loans.
Fitness finds its feet in China despite Covid woes
BEIJING: Though the Covid-19 epidemic crimped leisure and normal life to a large extent in China last year, it has not dampened the awareness and demand for fitness-related activities and products, judging by their steady growth.
MAHB renews collaboration with AsBAA
: Malaysia Airports Holdings Bhd (MAHB) has renewed its collaboration with Asian Business Aviation Association (AsBAA), following its Subang Airport Regeneration Initiative.
Higher glove ASPs seen in upcoming quarter
While steep ASP hikes are expected to be on hold for now as players realign their supply away from the US – which offers a premium in the 5%-10% range – Hartalega noted that the demand-supply equilibrium remains favourable for manufacturers.
Planters facing issues
According to the Malaysian Palm Oil Association (MPOA) CEO Datuk Nageeb Wahab, while the government has approved the return of 32,000 foreign workers to the estates in tranches, the progress has been slow.
SupportLine: Dayang, Carimin, OCK
Dayang Enterprise Bhd gapped up yesterday in a show of bullish momentum.The stock challenged the 50-day simple moving average (SMA) but failed to convincingly breach the moving average.However, given ...
US reviewing Top Glove submission
PETALING JAYA: The United States Customs and Border Protection (CBP) is currently reviewing Top Glove Corp Bhd’s submission after it had remediated the 11 International Labour Organisation’s (ILO) forced labour indicators.
HDD business drives Dufu Q1 earnings
KUALA LUMPUR: Dufu Technology Bhd posted a 38% growth in net profit in the first quarter and said that strong order visibility in 2021 would contribute to the group’s earnings in the coming quarters.
Qantas to keep headquarters in Sydney after property review
SYDNEY: Qantas Airways Ltd said on Thursday it would keep its corporate headquarters in Sydney and low-cost arm Jetstar would retain its head office in Melbourne after reviewing its property portfolio in an effort to cut costs during the pandemic.
Oil ends little changed, U.S. oil inventories fall
NEW YORK: Oil ended little changed on Wednesday after two days of gains despite a sharp drawdown in U.S. crude stocks, as the market weighs the outlook for demand with coronavirus infections still surging worldwide.
Dow ends at record high, Nasdaq falls as tech slides
NEW YORK: The Dow Jones Industrial Average ended at a record high on Wednesday, driven higher by energy and other economically sensitive sectors, while the Nasdaq closed in red as megacap growth stocks slipped.
Uber loss narrows as it hopes to rev shared rides
SAN FRANCISCO, May 6 — Uber on Wednesday reported that it narrowed its quarterly loss by selling its self-driving tech unit and said its pandemic-battered ride share business is starting to regain ...
Nasdaq bounces back after solid US hiring data
NEW YORK, May 5 — Tech shares were higher early today, staging a partial recovery from the prior session’s rout after a solid April employment report and strong General Motors results.
Gas Malaysia posts higher net profit in Q1
KUALA LUMPUR (Bernama) -- Gas Malaysia Bhd posted a higher net profit of RM55.63 million in the first quarter ended March 31, 2021 (Q1 2021) against RM47.86 million registered in the same quarter last year.
EU beefs up powers to control China investment
BRUSSELS, May 5 — The EU commission today unveiled new powers to block state-backed companies making unfair inroads into Europe, as the bloc seeks new ways to respond to China’s rise.
Ringgit ends higher against US dollar
KUALA LUMPUR, May 5 — The ringgit snapped two days of losses to end higher against the greenback today, supported by firmer Brent crude oil prices, a dealer said.
KLCI closes at day's low, banks weigh
The FBM KLCI closed at the day's low on Wednesday, weighed down losses in banks and gloves as buying sentiment remained weak due to the rising Covid-19 numbers and also tracking the downbeat key Asian markets.
FTSE Russell to rev up in Asia-Pacific
FTSE Russell will be stepping up its activities in Asia-Pacific, including Malaysia, having had its footprint and employee headcount enlarged significantly following the recent merger of its parent co...
Oil prices rise after steep drop in US crude inventories
SINGAPORE: Oil prices rose on Wednesday, extending gains from the previous session after industry data indicated U.S. crude stocks fell much more than expected last week, reinforcing bullish views on fuel demand in the world's largest economy.
Kerjaya Prospek subsidiary wins RM28m job in Penang
KUALA LUMPUR (May 5): Kerjaya Prospek Group Bhd said its wholly-owned subsidiary Kerjaya Prospek (M) Sdn Bhd today accepted a letter of award from Eastern & Oriental Bhd's (E&O) indirect subsidiary Pe...