The Malaysian Pulse
Beat of the Nation
Thu, 6 May 2021, 8:35 PM
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Berjaya Food reports profitable 3Q as operations not adversely impacted by MCO...
KUALA LUMPUR (May 6): Berjaya Food Bhd reported a net profit of RM11.61 million for its third quarter ended March 31, 2021 (3QFY21), against a net loss of RM1.39 million a year earlier.
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EMCO in 16 localities in Sg Ruan, seven in Sempalit, Pahang from May 8-21
KUALA LUMPUR (May 6): Sixteen localities in Sungai Ruan, as well as seven localities in Sempalit, Raub, Pahang will be placed under the Enhanced Movement Control Order (EMCO) from May 8 to 21.
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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.
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CPO futures end higher on better CBOT soybean oil performance
KUALA LUMPUR (May 6): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives (BMD) closed higher today, boosted by the stronger soybean oil performance on the US Chicago Board of Trad...
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BNM has confidence in monetary policy landscape — Economist
KUALA LUMPUR (May 6): Bank Negara Malaysia’s (BNM) decision to hold the Overnight Policy Rate (OPR) signals that the Central Bank has a lot of confidence in its monetary policy landscape to manoeuvr...
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Mukhriz takes a dig at Hamzah after minister asks for more time to decide on...
KUALA LUMPUR (May 6): Parti Pejuang Tanah Air (Pejuang) pro-tem president Datuk Seri Mukhriz Mahathir has taken a jibe at Home Minister Datuk Seri Hamzah Zainuddin over his statement that he needed mo...
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Rio Tinto shareholders reject executives’ pay in caves blast backlash
MELBOURNE, May 6 — A majority of Rio Tinto’s shareholders rejected the global miner’s executive pay packages today, in a backlash over its destruction last year of ancient rock shelters in Weste...
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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...
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Rizal Rickman succeeds Zeti as Sime Darby Property chairman
KUALA LUMPUR, May 6 — Sime Darby Property Bhd has redesignated Rizal Rickman Ramli as chairman, succeeding Tan Sri Zeti Akhtar Aziz who has retired after a three-year term.
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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 (...
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Cahya Mata Sarawak: Deputy chairman Bekir to stay on, conflict of interest...
KUALA LUMPUR (May 6): Cahya Mata Sarawak Bhd (CMS), whose share price took a nosedive today, announced that its deputy group chairman Datuk Seri Mahmud Abu Bekir Taib has accepted a request from the b...
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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".
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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...
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MyEG wins project from MIMOS to provide service desk for vaccine traceability...
KUALA LUMPUR (May 6): My EG Services Bhd (MyEG) has won a contract from MIMOS Bhd to provide service desk and its related services for a vaccine traceability system.
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Moody's Analytics: Optimictic outlook for Malaysia's trade, industrial...
KUALA LUMPUR (May 6): Malaysia's trade and industrial production both paint an optimistic outlook on the nation's economy but the reimposition of the Movement Control Order (MCO) may threaten its road...
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Maybank has made provisions for variables, like MCO 3.0
KUALA LUMPUR (May 6): While the imposition of the latest movement control order (MCO 3.0) will impact both the loan growth as well as asset quality of the bank, Malayan Banking Bhd (Maybank) says it h...
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Inari Amertron to raise RM1.07b via private placement for capex, acquisitions...
KUALA LUMPUR (May 6): Inari Amertron Bhd plans to raise up to RM1.07 billion via a private placement to be used for capital expenditure, acquisitions and investments.
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Bursa Malaysia rebounds to end at day’s high, KLCI up 0.17pc
KUALA LUMPUR, May 6 — Bursa Malaysia finished at its intra-day high today with the benchmark composite index rising 0.17 per cent as investors’ optimism was uplifted by Bank Negara Malaysia’s (B...
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Strong earnings pull FTSE 100 higher ahead of BoE meet, election day
LONDON, May 6 — London’s FTSE 100 edged higher today, boosted by heavyweight consumer staple stocks and positive earnings updates from Next and Melrose Industries, while investors eyed Bank of Eng...
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Asia-listed pharma firms take a hit on Covid-19 vaccine waiver talk
HONG KONG, May 6 — Shares in Asia-listed vaccine makers tumbled today after the US backed a plan for a waiver on Covid-19 patent protections in a bid to get the drugs to poorer countries struggling ...
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Sterling waits for BoE decision on slowing emergency support
LONDON, May 6 — Sterling hovered around the US$1.39 (RM5.73) mark as traders waited for a Bank of England policy meeting later today where the central bank will say the British economy is rebounding...
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PNB names former chief justice Arifin Zakaria as new chairman, confirms The...
KUALA LUMPUR (May 6): Former chief justice of Malaysia Tun Arifin Zakaria has been appointed chairman of Permodalan Nasional Bhd (PNB) today, PNB said in statement today.
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Muhammad Amiin Ridhuwan's death huge loss to Bersatu, says Armada chief
KOTA BARU (May 6): Parti Pribumi Bersatu Malaysia (Bersatu) Armada (Youth) chief Wan Ahmad Fayhsal Wan Ahmad Kamal has described the demise of Kelantan Armada chief Datuk Muhammad Amiin Ridhuwan ...
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KPDNHEP says it never appointed agents to promote Buy Malaysian Product Campaign
PUTRAJAYA (May 6): The Ministry of Domestic Trade and Consumer Affairs (KPDNHEP) never appointed any advertising agents for advertising and promotional purposes under the Buy Malaysian Product Campa...
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Stricter movement controls to drag recovery plays, says CGS-CIMB
KUALA LUMPUR (May 6): Rising Covid-19 cases, the reimplementation of the movement control order or MCO 3.0 in key cities, together with a slower vaccination pace, will negatively impact recovery plays...
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Knight Frank London sees record-breaking activities in March
KUALA LUMPUR (May 6): Knight Frank London saw record-breaking activities in March, laying the groundwork for sustained momentum going into the summer as the UK economy reopens.
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Covid-19: Malaysia reports 3,551 new cases; figure above 3,000 for third...
KUALA LUMPUR (May 6): Malaysia today recorded a total of 3,551 new Covid-19 cases, pushing the cumulative figure of positive cases in the country to 427,927, according to Ministry of Health (MoH) dir...
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Govt approves applications worth RM12.86b under Wage Subsidy Programme 1.0 as...
KUALA LUMPUR (May 6): The government has approved wage subsidy applications worth RM12.86 billion under the Wage Subsidy Programme 1.0 (PSU1.0) as of April 23, which has benefited a total of 322,177 e...
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KLCI closes up 2.66 points at 1,578.33
KLCI closes up 2.66 points at 1,578.33
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Bank Muamalat allocates RM500m financing to help Industry 4.0 vendors
KUALA LUMPUR, May 6 — Bank Muamalat Malaysia Bhd is allocating RM500 million in financing facilities to assist vendors in business and technology development in line with Industry 4.0.
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FAO: World food price index climbs in April, highest since mid-2014
ROME, May 6 — World food prices increased for a 11th consecutive month in April, hitting their highest level since May 2014, with sugar leading a rise in all the main indices, the United Nations foo...
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EasyJet ahead of green list warns UK risks being left behind in travel
LONDON, May 6 — The chief executive of easyJet said Britain was likely to be left behind the rest of Europe if the government does not allow quarantine-free travel to most of the continent when it a...
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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.
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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.
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Federal Govt implements four enhancements to grants, support for states
KUALA LUMPUR: The federal government has agreed to implement four enhancements to allocations channelled in various forms of grants and support to the state governments for 2021, the Ministry of Finance (MoF) said.
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Velesto to focus on Sunken Naga 7 rig recovery efforts
KUALA LUMPUR (May 6): Offshore drilling company Velesto Energy Bhd will focus on recovery efforts of its rig, Velesto Naga 7, which submerged off the coast of Sarawak on Tuesday. In a filing with B...
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Mitsui weighing buyout of RM45b IHH Healthcare — sources
(May 6): Mitsui & Co is exploring a deal to take Malaysian hospital group IHH Healthcare Bhd private, according to people with knowledge of the matter.
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Investors snap up Maybulk shares, trading volume swells to record high
KUALA LUMPUR (May 6): Shares in Malaysian Bulk Carriers Bhd (Maybulk) rose to a three-year high in active trade, tracking rising dry bulk freight rates currently at their 11-year high.
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BNM: OPR remains at 1.75pc, headline inflation to average 2.5-4.0pc in 2021
KUALA LUMPUR, May 6 — Bank Negara Malaysia (BNM) has maintained the overnight policy rate (OPR) at 1.75 per cent at its third Monetary Policy Committee (MPC) meeting today.
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Microsoft pledges to store European cloud data in Europe
PARIS, May 6 — US tech giant Microsoft today pledged to store all European cloud-based client data in Europe amid unease on the continent over the reach of US legislation on personal data collection...
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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...
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Nintendo forecasts decline in Switch sales, warns of chip uncertainty
TOKYO: Japan's Nintendo Co Ltd on Thursday forecast annual Switch console sales to fall 11.5%, in what would be the first decline for the five-year-old device after riding a pandemic-induced boom in home gaming.
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Cover Story: No easy solution to global chip crunch
CAR manufacturers have been grappling with a global semiconductor shortage since early this year, which has led to production cuts and staff layoffs.
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Cover Story: Competition from China, low foreign shareholding to weigh on glove...
AFTER experiencing a downward trend from early this year, glove stocks on the local bourses have seen strong buying interest again as new waves of Covid-19 infections loom globally.
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MCO: Five Ramadan bazaars at LRT stations to close from Saturday
KUALA LUMPUR (May 6): Five Ramadan bazaars at Light Rail Transit (LRT) stations in Selangor will be closed from Saturday following the implementation of the movement control order (MCO) in six distr...
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Zenith Hotels & Resorts unveils new hotel Zenith Cameron in Cameron...
PETALING JAYA (May 6): Home-grown Zenith Hotels & Resorts held a soft opening for its third hotel in Malaysia on April 30, expanding the hospitality brand’s footprint in the local market.
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Bank Negara maintains overnight policy rate at 1.75pc
KUALA LUMPUR, May 6 — Bank Negara Malaysia has maintained the overnight policy rate (OPR) at 1.75 per cent at its third Monetary Policy Committee (MPC) meeting today.
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West must be ‘very careful’ about Chinese investment, says Blinken
LONDON, May 6 — US Secretary of State Antony Blinken said the West had to be very careful about the exact nature of Chinese investment in Western economies and think very carefully about investments...
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Nintendo logs record pandemic profit but outlook cautious
TOKYO, May 6 — Nintendo reported a record annual profit Thursday after virus lockdowns caused sales of its blockbuster Switch console to soar, but the Japanese gaming giant warned that its bumper pa...
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Abu Dhabi's Mubadala posts record annual income and investment
DUBAI: Abu Dhabi state investor Mubadala's total income rose nearly 36% to a record high last year, driven by growth in its public equities portfolio and funds, while it accelerated investment during the COVID-19 pandemic.
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Cover Story: Cheap glove stocks or expensive tech stocks; Which would you buy?
SINCE the Covid-19 outbreak, rubber glove makers and technology stocks have by far been the clear outperformers on Bursa Malaysia.
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BNM keeps OPR at 1.75%
BNM keeps OPR at 1.75%
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Gas Malaysia may post lower earnings in FY21, says analyst
KUALA LUMPUR (May 6): Gas Malaysia Bhd’s earnings for the financial year ending Dec 31, 2021 (FY21) may decline from FY20 amid a predicted drop in average gas selling price, said CGS-CIMB. In a note...
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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...
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Malaysia Airlines offers training opportunity in aviation industry
Malaysia Airlines is offering training opportunity in the aviation industry, especially SPM leavers to pursue a career in the aviation industry.
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Sentral REIT 1Q net property income down 4% on-year; up in quarterly terms
Sentral REIT 1Q net property income down 4% on-year; up in quarterly terms
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Deepak withdraws appeal to include Najib and others in suit filed by family of...
PUTRAJAYA (May 6): Carpet businessman Deepak Jaikishan today withdrew his appeal to include former prime minister Datuk Seri Najib Razak, his wife Datin Seri Rosmah Mansor, and six others as third par...
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MISC returns to black in Q1, net profit at RM429.8m
KUALA LUMPUR, May 6 ― MISC Bhd has returned to the black in the first quarter ended March 31, 2021 (Q1), registering a net profit of RM429.80 million compared with a net loss of RM1.16 billion recor...
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Singapore Press to spin off media Into non-profit entity
Singapore Press Holdings Ltd., which publishes the country’s flagship daily newspaper, plans to spin off its media business into a non-profit entity after conducting a strategic review of its businesses.
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Hong Seng partners Pow Pocket for Johor immigration registration platform
KUALA LUMPUR: Hong Seng Consolidated Bhd's unit HS Bio Sdn Bhd has entered into a joint venture with Pow Pocket Sdn Bhd to undertake tender awards from the Johor state government.
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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.
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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.
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MISC 1Q net profit at RM430m versus net loss of RM1.16b a year earlier
MISC 1Q net profit at RM430m versus net loss of RM1.16b a year earlier
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Malaysia's GDP growth could dip to 4% on MCO 3.0, slow vaccination and Covid-19...
KUALA LUMPUR (May 6): The latest movement control order (MCO 3.0) imposed by the government will continue to have scarring effects on economic and business activities, according to Socio-Economic Res...
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FBM KLCI extends decline for fifth day, gloves slide
KUALA LUMPUR: The FBM KLCI fell for a fifth straight session, slipping below the 200-day simple moving average as the renewal of lockdown measures weighed on sentiment.
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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.
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Malaysia's manufacturing sales rise to RM126.9 billion in March 2021, highest...
Malaysia's manufacturing sales rise to RM126.9 billion in March 2021, highest in 44 months
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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...
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Glove stocks in the red amid concerns over mounting pressure on selling prices...
KUALA LUMPUR (May 6): While investors are weighing the resurgence in the number of Covid-19 cases and the vaccine roll-out, Supermax Corp Bhd’s remarks on current spot prices of rubber gloves bein...
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Genting Malaysia subsidiary to redeem bonds under RM5b scheme ahead of maturity...
KUALA LUMPUR (May 6): Genting Malaysia Bhd's subsidiary GENM Capital Bhd will redeem bonds under the latter’s medium term notes (MTN) programme of up to RM5 billion on Tuesday (May 11) ahead of the ...
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Two police officers, including former Altantuya IO, freed from Sosma detention...
KUALA LUMPUR (May 6): Two police officers — a Superintendent who investigated the murder of Altantuya Shaariibuu and another Assistant Superintendent — who were picked up to assist investigations ...
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Govt fails to stop bid by Malaysian mums seeking citizenship for children born...
KUALA LUMPUR (May 6): The High Court quashed a bid by the Malaysian government today to strike out lawsuits by Malaysian mothers who want citizenship for their children born overseas.
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Analysts cut Supermax earnings forecasts, target prices on lower ASP...
KUALA LUMPUR (May 6): Analysts have revised down their earnings forecasts and target prices (TPs) for Supermax Corp Bhd as they foresee lower average selling prices (ASPs) for gloves after the group...
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Malaysian CPO prices near RM4,700 a tonne as commodities strengthen on recovery...
KUALA LUMPUR (May 6): Malaysian crude palm oil (CPO) prices climbed to a level near RM4,700 a tonne in morning trade on Bursa Malaysia today as prices of commodities including crude oil and copper st...
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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...
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Asia shares, commodities firm on recovery bets; A$ hit by China move
In currencies, the Australian dollar dropped 0.5% to $0.7712 after China's state economic planner said it had decided to "indefinitely suspend" all activities under the China-Australia Strategic Economic Dialogue.
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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.
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KLCI trails healthcare gauge drop as Covid-19-driven MCO hits sentiment
KUALA LUMPUR (May 6): The FBM KLCI fell more than 1% in morning trade on Bursa Malaysia today on broad-based selling as investors weighed factors including the economic impact of the re-enforcement o...
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HSBC Malaysia launches mobile app EZInvest
HSBC Malaysia launched EZInvest, a new unit trust investment platform on its mobile app to provide customers 24/7 access to their investment portfolio.
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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.
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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.
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Indonesian economy struggles to bounce back
GDP declines 0.74% in Q1 as domestic demand drags
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KLCI dips in morning trade, bucking regional gains
KUALA LUMPUR (May 6): The FBM KLCI fell by 0.32% in early morning trade, bucking regional gains.
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Australian regulator moves to block Qantas-Japan Airlines deal
SYDNEY, May 6 — Australia’s competition regulator on Thursday said it would block a pricing, code-sharing and scheduling deal between Qantas and Japan Airlines because it would likely mean higher ...
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Bursa extends losses at opening on cautious investor sentiment
KUALA LUMPUR, May 6 — Bursa Malaysia extended yesterday's losses to open easier today as overall investor sentiment remained cautious ahead of the overnight policy rate (OPR) announcement later to...
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Quick take: Widetech hits limit-up in early trade
KUALA LUMPUR: Widetech (M) Bhd’s shares jumped 29% to an all-time high in early trade Thursday.
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Glove makers drag KLCI deeper into the red
Glove makers dragged the FBM KLCI deeper into the red in early Thursday trading.
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It’s goodbye to CME’s last commodity trading pits
CHICAGO: It’s the end of an era for open outcry commodities trading, made famous by the film “Trading Places” with Eddie Murphy and Dan Aykroyd.
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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.
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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.
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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.
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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.
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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.
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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.
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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.
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Trading ideas: DNeX, Cahya Mata Sarawak, Supermax, UEM Sunrise, Gas Malaysia
KUALA LUMPUR: Dagang Nexchange Bhd, Cahya Mata Sarawak Bhd, Supermax Corp Bhd, UEM Sunrise Bhd and Gas Malaysia Bhd are among the stocks to watch on Thursday, according to JF Apex Research.
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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.
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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.
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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.
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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.
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Crypto mania sends Doge soaring, crashes Robinhood token trading
NEW YORK: Animal spirits are alive and well in the cryptocurrency world, with the frenzy sending Dogecoin surging more than 50% again and crashing Robinhood’s trading app.
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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.
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Call on tax leaders to address potential tax exposure
KUALA LUMPUR: Finance and tax leaders are urged to undertake an extensive review of their existing financial instruments to address potential tax exposure comprehensively.
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Insight - Unseen digital cash will stretch your money
AWAY from the cryptocurrency craze, important changes are taking place in how financial institutions move funds.Unlike the upcoming digital yuan or the keenly awaited Britcoin and FedCoin, a wholesale...
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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.
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Insight - Transparency, integrity the vital cogs
Ridding appointments of active politicians is vital to enhance better board governance
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Latest land deal to augur well for Mah Sing
The acquisition of Mah Sing Group Bhd’s latest parcel of land is expected to strengthen its development portfolio within the Klang Valley’s key growth corridors.
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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.
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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.
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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 ...
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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.
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Gas Malaysia posts higher earnings in Q1
PETALING JAYA: Gas Malaysia Bhd has posted a net profit of RM55.63mil for the first quarter ended March 31, which came in 16.23% higher year-on-year (y-o-y).
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Industrial, services lead RHB small-cap jewels
Firms adapting well in a fluid business environment
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All eyes on interest rates
Reduction in OPR may not be favourable, say analysts
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Thailand holds rates, warns on growth amid worst Covid wave
BANGKOK: Thailand’s central bank kept its benchmark interest rate unchanged for an eighth straight meeting, warning that its forecast for economic recovery was threatened by the country’s biggest ...
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Rising commodity prices may impact F&N in H2
Higher costs may be passed on to consumers
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Supermax earnings hit RM1bil in third quarter
KUALA LUMPUR: Glovemaker Supermax Corp Bhd posted a net profit of RM1bil for the third quarter ended March 31 and proposed a special dividend of 13 sen per share for the quarter.
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DNeX plans placement to raise RM642mil
PETALING JAYA: Dagang Nexchange Bhd (DNeX) has proposed a private placement to raise RM641.96mil for its future viable investments.
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Asia-Pacific can emerge from crisis stronger by focusing on five areas
KUALA LUMPUR: Asia and the Pacific region can emerge stronger from the Covid-19 pandemic by focusing on five areas that would help to achieve a prosperous, inclusive, resilient and sustainable future, Asian Development Bank (ADB) president Masatsugu Asakawa said.
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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.
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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.
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S&P lifts GameStop credit rating, helping push into e-commerce
BOSTON: Ratings agency S&P Global Ratings on Wednesday raised GameStop's credit rating by one notch, a critical step in the video retailer's transformation into an e-commerce company
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National Australia Bank first-half cash profit beats estimates, doubles dividend
SYDNEY: National Australia Bank Ltd on Thursday beat estimates for first-half cash profit and doubled its dividend, as a rapid economic recovery encouraged the country's third biggest lender to release funds set aside to cover potential COVID-19 losses.
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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.
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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.
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609,539 complete taking second dose of Covid-19 vaccine as of May 4 — Health...
KUALA LUMPUR (May 5): Up to 609,539 people completed taking the second dose of vaccine under the National COVID-19 Immunisation Programme as of yesterday, Health Minister Datuk Seri Dr Adham Baba said...
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Analabs buys Maybank shares worth RM15.46 mil for dividends, capital gains
KUALA LUMPUR (May 5): Analabs Resources Bhd has acquired Malayan Banking Bhd’s (Maybank) shares amounting to RM15.46 million from the open market between April 9 and May 5, 2021.
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Filming in MCO areas allowed, special certificates needed — FINAS
KUALA LUMPUR (May 5): Filming activities in areas under the Movement Control Order (MCO) are allowed but special filming certificates (SPP) are required.
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Update bank account if yet to receive GKP payments — IRB
KUALA LUMPUR (May 5): Recipients of Prihatin Special Grant (GKP) who have yet to receive additional payments under the Rakyat’s Protection Assistance Package (PERMAI) are advised to check their paym...
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MACC looking for three former police personnel to help in investigations
PUTRAJAYA (May 5): The Malaysian Anti-Corruption Commission (MACC) is looking for three former police personnel to help in investigations into a corruption case.
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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 ...
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Dufu Tech 1Q net profit up 38% amid rise in volume loading by HDD-related...
KUALA LUMPUR (May 5): Dufu Technology Corp Bhd’s first quarter net profit grew 38% to RM19.52 million, from RM14.14 million a year earlier, as revenue rose on the back of an increase in volume loadi...
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Use of plastics should be managed, not banned say associations
KUALA LUMPUR (May 5): Malaysia should focus on the sustainable management of plastics instead of completely banning their production and use, said Malaysian Plastics Manufacturers Association (MPMA) a...
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US, China to assess Phase 1 deal soon, Biden trade chief says
WASHINGTON, May 5 — US Trade Representative Katherine Tai said today she expects to engage “in the near term” with Chinese officials to assess their implementation of the “Phase 1” trade dea...
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Sterling steady as markets eye ‘super Thursday’ status quo
LONDON, May 5 — Sterling ticked up against the dollar today as a poll showed Scotland’s main pro-independence party was unlikely to win an outright majority in tomorrow’s election, undermining i...
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Ministry targets 500 mil litres of recycled water daily by 2025
MELAKA (May 5): The Ministry of Environment and Water (KASA) is targeting the production of recycled water supply nationwide at a rate of 500 million litres a day by 2025, said its Deputy Minister Dat...
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Bank officers among eight arrested over fraud involving RM4.7 mil
KUALA LUMPUR (May 5): The police have crippled a syndicate using fake documents to apply for personal financing involving losses of RM4.7 million, with eight men including six staff of financial insti...
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Aidilfitri: Prison visits allowed except in MCO, EMCO areas
KUALA LUMPUR (May 5): The families of prison inmates are allowed to pay them a visit in conjunction with Aidilfitri celebrations, from May 15 to 19, and subject to the conditions set.
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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.
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Biden’s Labor Department rescinds Trump-era rule affecting gig workers
WASHINGTON, May 5 — President Joe Biden’s Labor Department today rescinded a Trump-era rule that would have made it easier for US businesses to classify workers as independent contractors instead ...
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US private payrolls post biggest gain in seven months in April
WASHINGTON, May 5 — US private payrolls increased by the most in seven months in April as companies rushed to boost production amid a surge in demand, suggesting the economy gained further momentum ...
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F&N to keep any product price hike rate within single digit range, says CEO
KUALA LUMPUR (May 5): Fraser & Neave Holdings Bhd (F&N) will keep any necessary price increase for its products at a single-digit amid the rise in and raw material prices.
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CPO futures end mostly higher on strong export demand
KUALA LUMPUR (May 5): The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives (BMD) closed mostly higher today, lifted by positive sentiment over strong export demand, palm oil trader ...
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IRB slaps two UEM Sunrise units with RM82.2m tax bill
KUALA LUMPUR (May 5): Two wholly-owned subsidiaries of UEM Sunrise Bhd have been slapped with additional taxes and penalties amounting to RM82.18 million by the Director General of Inland Revenue Boar...
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UMNO to contest Larut seat in GE15 but Saarani says he's not the candidate
IPOH (May 5): Perak UMNO Liaison Committee chairman Datuk Saarani Mohamad today dismissed talk he will contest the Larut parliamentary seat in the next general election but said UMNO will definitely f...
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Govt urged to enact law to deter misuse of electronic cigarettes
KUALA LUMPUR (May 5): The Malaysian Vape Industry Advocacy (MVIA) today urged the government to expedite the implementation of specific laws related to the use of electronic cigarettes.
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EVENING 5: Five things you need to know today
EVENING 5: KL under MCO from May 7 to 20 Dirty dealings.
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Malaysian Bar calls for RCI to probe ex-IGP's allegations of political...
PUTRAJAYA (May 5): The Malaysian Bar has called for the establishment of a Royal Commission of Inquiry (RCI) to investigate former national police chief Tan Sri Abdul Hamid Bador's claims of alleged p...
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Three Seni Jaya directors resign over concerns about possible takeover exercise
KUALA LUMPUR (May 5): Three independent and non-executive directors of  Seni Jaya Bhd have resigned, following an increase in the group's share price and a significant disposal of shares by its two l...
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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.
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Glove factory to be built in Batu Gajah involving RM800 mil investment
IPOH (May 5): A glove manufacturing factory is being planned in Batu Gajah that involves an investment of RM800 million over 10 years and it is expected to create 4,000 job opportunities.
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Another Jho Low associate ordered to pay RM6.7 million in tax arrears
KUALA LUMPUR (May 5): The High court ordered Casey Tang (Tang Keng Chee), an associate of 1MDB mastermind and fugitive Low Taek Jho, better known as Jho Low, to pay more than RM6.7 million in tax arre...
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Covid-19 patient runs away from Sungai Petani hospital
SUNGAI PETANI (May 5): The police are looking for a Covid-19 patient who is believed to have escaped from the Old Sungai Petani Hospital here yesterday.
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Supermax: Rubber glove spot prices on downtrend, fall 15% to 25%
KUALA LUMPUR (May 5): As more new capacities are available in the market, rubber glove prices have started falling, said Supermax Corp Bhd.
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KLCI falls as heavyweights succumb to selling pressure just as KL, Johor Bahru...
KUALA LUMPUR (May 5): The FBM KLCI extended losses for the fourth consecutive session today, as most of the key index's components succumbed to selling pressure amid the reimplementation of the Moveme...
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Issue of vaccine brand should not arise in pandemic times — SDDMC
KUCHING (May 5): The question of which Covid-19 vaccine brand is better should not even be posed especially when the country is facing a tough situation to curb the pandemic, according to a government...
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All schools in Kuala Lumpur and Putrajaya to be closed on May 6 and 7 —...
All schools in Kuala Lumpur and Putrajaya to be closed on May 6 and 7 — Education Ministry
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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.
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Najib's SRC Trial: Many afterthoughts to Najib’s defence
LAST week, the prosecution poured scorn on the defence’s arguments that Datuk Seri Najib Razak had no knowledge that money transferred to his bank accounts was from SRC International Sdn Bhd, dismis...
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Najib's SRC Trial: Jho Low was ‘Arab donor’ — prosecution
IF Datuk Seri Najib Razak is to be believed, the late Saudi ruler, King Abdullah, was “regularising” and topping up the former prime minister’s bank accounts at Ambank whenever funds were runnin...
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Rubber market ends moderately higher amid quiet trading in regional peers
KUALA LUMPUR (May 5): The Malaysian rubber market closed moderately higher Wednesday, supported by gains in crude oil prices, amid quiet trading in the regional rubber futures market due to market clo...
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MCO in Taiping, Larut Matang and Selama, Perak, from May 7 to 20 - Ismail Sabri
MCO in Taiping, Larut Matang and Selama, Perak, from May 7 to 20 - Ismail Sabri
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Gas Malaysia 1Q net profit up 16.2% on higher volume of gas sold
KUALA LUMPUR (May 5): Gas Malaysia Bhd’s net profit rose 16.2% to RM55.63 million in the first quarter ended March 31, 2021 (1QFY21), from RM47.86 million a year ago, on higher volume of natural gas...
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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.
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Bursa Malaysia ends lower on selling pressure
KUALA LUMPUR, May 5 — Bursa Malaysia contracted further at the close today, weighed down by selling pressure in heavyweight counters.
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Carmaker Stellantis says output hit by chip shortages
PARIS, May 5 — A global semiconductor shortage hit production at US-European auto giant Stellantis in the first quarter but the owner of 14 brands including Peugeot, Fiat and Chrysler still booked s...
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Asia stocks struggle after Yellen spooks Wall St, eyes on US jobs
HONG KONG, May 5 — Asian markets mostly fell today after Treasury Secretary Janet Yellen’s suggestion that US interest rates might need to be hiked, as government spending measures fan inflation a...
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US chip startups, long shunned in favor of internet bets, stir excitement again
OAKLAND (Reuters) - Silicon Valley venture capitalists, long focused on software and internet companies, are again pouring money into the semiconductor industry, lured by the promise of a new generation of artificial-intelligence chips that could challenge incumbents like Intel Corp and Nvidia Corp.
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Najib's SRC Trial: SRC’s unique command structure left company at Najib’s...
DATUK Seri Najib Razak deliberately set up the corporate structure of his “baby”, 1Malaysia Development Bhd (1MDB), and its former unit SRC International Sdn Bhd such that both companies were plac...
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Covid-19: Kelantan has submitted report on critical situation to Federal govt,...
KOTA BHARU (May 5): The Kelantan government has submitted a report on the critical Covid-19 situation in the state to the Malaysian National Security Council (MKN) to seek its advice, says Menteri Bes...
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Malaysia’s new Covid-19 infections jump to 3,744, with Selangor accounting for...
KUALA LUMPUR (May 5): Malaysia reported today that the country's newly-confirmed Covid-19 cases rose to 3,744, from 3,120 yesterday.
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Negeri Sembilan mosques, suraus must close for a week for breaching SOPs, says...
SEREMBAN (May 5): Any mosque or suraus in Negeri Sembilan that fails to comply with the standard operating procedures (SOPs), set to curb the spread of Covid-19 infection, will be ordered to close for...
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Supermax 3Q net profit jumps to RM1.01b, pays 13 sen special dividend
KUALA LUMPUR (May 5): Supermax Corp Bhd’s net profit for the third quarter ended March 31, 2021 (3QFY21) surged 14 times to RM1 billion, from RM71.06 million a year ago, amid continuous robust glove...
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KLCI closes down 12.58 points at 1,575.67
KLCI closes down 12.58 points at 1,575.67
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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.
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Special Report: Why is Malaysia lagging behind in the vaccination rollout?
HAVE you registered for the Covid-19 vaccine?
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Khazanah returns to US dollar sukuk market, prices US$400m and US$600m dual-...
KUALA LUMPUR (May 5): Khazanah Nasional Bhd has returned to the US dollar sukuk market, and successfully priced a dual-tranche offering comprising a five-year US$400 million in nominal value sukuk due...
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Maersk books record profit on surging freight demand
COPENHAGEN, May 5 — Danish shipping giant AP Moller-Maersk said today that it booked record earnings in the first quarter on the back of surging demand during the coronavirus pandemic.
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Palm oil swings with soyoil rally and rising stockpiles in focus
Palm oil fluctuated as investors weighed the bullish impact of the relentless rally in global farm commodities with increasing stockpiles of the tropical oil in second-biggest grower Malaysia.
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Frontken aims for sustainable growth with expansion plans
AFTER achieving yet another record earnings in the financial year ended Dec 31, 2020 (FY2020), Frontken Corp Bhd remains optimistic about its prospects and expects to do the same in the current financ...
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MoH said to have approved use of SweeGen's stevia-based sweeteners for F&B...
KUALA LUMPUR (May 5): Malaysia's Ministry of Health (MoH) is said to have approved US-based SweeGen Inc’s stevia-based sweeteners for use as ingredients in food and beverage (F&B) products.
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Court fixes May 31 to hear Maria Chin’s bid for judicial review of Syariah...
KUALA LUMPUR (May 5): What was meant to be an ex-parte hearing for leave to seek a judicial review of the contempt proceedings against Petaling Jaya MP Maria Chin Abdullah by the Syariah Court turned...
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Euro zone bond yields edge up as equity markets calm
FRANKFURT, May 5 ― Euro zone bond yields edged up today as equity markets recovered from a sudden slump a day earlier that had sent yields on the safe-haven assets falling sharply.
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Ideas On Business And Economics: Malaysia has a chance to reform the teachings...
Islam is the official religion of Malaysia.
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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...
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Govt launches RM3.5b Jaringan Prihatin to subsidise data plan subscriptions,...
KUALA LUMPUR (May 5): As part of the government's efforts to bridge the digital divide by addressing the issue of affordability, Prime Minister Tan Sri Muhyiddin Yassin today launched the RM3.5 billio...
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Asian equities see foreign inflows for first time this year
Overseas investors turned net buyers of Asian equities in April for the first time this year, helped by signs of economic recovery, with the region posting a strong rebound in manufacturing activity and exports.
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Indonesia's Q1 GDP shrank 0.74%, in line with expectations
JAKARTA: Indonesia's economy shrank for the fourth straight quarter in January-March but at a much more modest pace, statistics bureau data showed on Wednesday.
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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.
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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...
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Golden Pharos, ACME, A-Rank, Engtex, Gopeng, Karyon, LBI Capital, Sedania...
KUALA LUMPUR (May 5): theedgemarkets.com has highlighted nine stocks with momentum at the noon market close today.
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Court fixes case management for IRB's bankruptcy claim against Najib on May 24...
KUALA LUMPUR (May 5): The High Court here has fixed May 24 for case management of the Inland Revenue Board’s (IRB) bankruptcy claim against former premier Datuk Seri Najib Razak.
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Alternative Views: Role of politicians and ex-civil servants on boards need...
For the first time, a government agency has defined what an “active politician” is.
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Hartalega's earnings may peak in 1QFY22, says analyst
KUALA LUMPUR (May 5): Analysts are mixed on Hartalega Holdings Bhd's earnings outlook, with one among them expecting its earnings to peak in the first quarter ending June 30, 2021 (1QFY22). Maybank In...
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