The Malaysian Pulse
Beat of the Nation
Wed, 25 Nov 2020, 9:55 AM
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Top Glove's share buyback tops RM1b as over RM12b market cap wiped off amid...
KUALA LUMPUR (Nov 25): Top Glove Corp Bhd has lost over RM12 billion worth of market capitalisation since the start of November, as its share price tumbled amid a slew of unfavourable news — with th...
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Tesla’s stock market value accelerates past US$500 billion
NEW YORK, Nov 25 — Tesla’s market value soared to more than US$500 billion (RM2 trillion) yesterday ahead of its listing on the S&P 500, with its stock finishing up 6.4 per cent or by nearly US$32...
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Kenanga upgrades STMKB to 'outperform'
KUALA LUMPUR: Kenanga Research has upgraded Syarikat Takaful Malaysia Keluarga Bhd's outlook following an improved earnings result in 3QFY20 from the previous quarter.
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Trading ideas: Top Glove, AirAsia, Wah Seong, My EG, Inari
KUALA LUMPUR: Top Glove Corporation, AirAsia Group, Wah Seong, MY EG Services and Inari Amertron are among the stocks which could see trading interest on Wednesday after the barrage of corporate news, according to TA Securities Research.
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Kenanga raises earnings outlook on Kelington
KUALA LUMPUR: Kenanga Research has raised its earnings forecast on Kelington Group Bhd following record-high quarterly earnings from the latter.
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IJM unit wins RM315mil Penang construction job
KUALA LUMPUR: IJM Corp Bhd’s wholly-owned subsidiary IJM Construction Sdn Bhd has bagged a RM314.8mil contract from Laksana Positif Sdn Bhd for the construction of a 34-storey hotel and office tower at The Light City in Gelugor, Penang.
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Insight - Making vaccines accessible
All should get enough doses quickly
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Insight - In 2020, extra reasons to be grateful for Thanksgiving dinner
AS Thanksgiving approaches with the pandemic still raging, we can be grateful that at least one of our basic support systems has operated better than expected: the food supply.
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Land & General net profit up eight-fold
PETALING JAYA: Land & General Bhd posted an eight-fold increase in net profit to RM14.08mil for the second quarter ended Sept 30 on the back of higher contributions from its property, education and other divisions.
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Luno rides on cryptocurrency to grow customer base
PETALING JAYA: Luno Malaysia, the largest digital asset exchange in the country with about 180,000 users, is confident of significantly growing its customer base in 2021, underpinned by the rising popularity of cryptocurrency.
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MyEG earnings at RM70.74mil
KUALA LUMPUR: MyEG Services Bhd posted a net profit of RM70.74mil on the back of a RM136.09mil revenue in the third quarter ended Sept 30,2020, which was an improvement from the second quarter, due to its concession-related services
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Rural infrastructure, online classes by public universities among issues in...
KUALA LUMPUR (Nov 25): Issues on basic infrastructure in the rural areas of Sabah and online classes by institutions of higher learning are expected to be raised at the Dewan Rakyat today.
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Asian insurers prefer fixed income and alternatives amid low interest rates
KUALA LUMPUR (Nov 25): Asia ex-Japan managers deem traditional fixed income as the most sought-after strategy by regional insurers over the next 12 to 18 months, followed by alternative strategies inc...
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IFCA MSC showing signs of extending upward move, says RHB Retail Research
KUALA LUMPUR (Nov 25): RHB Retail Research said IFCA MSC Bhd is showing signs of extending its upward move that started from early-November, after it recently came in near to retest the 21-day SMA lin...
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Stock rally to build in Asia after U.S. records
(Nov 25): A global equity rally looked set to extend into Asia on Wednesday after U.S. stocks climbed to fresh records.
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Staying indoors, with lower 4G speed — A Covid-19 story
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U.S. and China physicists modify semiconductor to create superconductor
KUALA LUMPUR (Nov 25): Physicists in the Department of Physics and Astronomy at the University of Tennessee, Knoxville, together with their colleagues from the Southern University of Science and Techn...
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Oil up, stocks rally to records as US political uncertainty ebbs
NEW YORK, Nov 25 — Stocks ended at record highs yesterday while bitcoin and oil prices also rose as political uncertainty subsided after US President-elect Joe Biden got the formal go-ahead to begin...
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Dow scales 30,000 on vaccine headway, Biden transition
NEW YORK, Nov 25 — US stocks rallied yesterday and the Dow breached the 30,000 level for the first time, as investors anticipated a 2021 economic recovery on coronavirus vaccine progress and the for...
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Mnuchin will put clawed-back Fed funds out of Yellen’s reach, reports Bloomberg
WASHINGTON, Nov 25 — Treasury Secretary Steven Mnuchin will put the over-US$400 billion in CARES ACT funding he took back from the Federal Reserve last week into an account that needs Congressional ...
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Luxury fans in China chase neat shot of investment with vintage Moutai liquor
BEIJING/SHANGHAI: As luxury spending rebounds in China, consumers with money to burn have a new habit beyond fancy bags and watches: a taste for collector editions of fiery domestic liquor Moutai, not to drink but to hold onto as a rapidly appreciating investment.
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Malakoff aims to further grow RE venture
PETALING JAYA: Malakoff Corp Bhd registered a 46.2% decline in net profit to RM50.8mil in the third quarter ended Sept 30,2020, as compared to RM94.5mil in the corresponding quarter last year.
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Call for higher minimum retirement age
Malaysians faced with inadequate savings, longer life expectancy
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The capital gains tax debate
Mixed response to goverment's potential option to up revenue
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AirAsia revenue rises in Q3
PETALING JAYA: AirAsia Group Bhd has posted a revenue of RM443mil for its third quarter ended Sept 30, representing a 272% increase compared to the preceding quarter but a decline of 86% year-on-year (y-o-y).
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Is it time for countries to open their borders?
PETALING JAYA: It is important for some countries to open their borders to support trade and recovery, although the shape and nature of recovery among the individual Asean members remain uncertain and can vary by country, senior fellow at Yusof Ishak Institute (ISEAS) in Singapore Dr Jayant Menon told a webinar.
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BoJ’s local bank aid makes rates harder to cut, says ex-official
TOKYO: The Bank of Japan (BoJ) is now even more unlikely to lower its negative interest rate following a move to cushion its impact on regional banks, according to a former BoJ official.
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Glove stocks to add more weight
Supermax expected to replace KLCCP in stock index review
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Dell posts surprise revenue rise on booming demand for remote-work tools
NEW YORK: Dell Technologies Inc reported a surprise rise in third-quarter revenue on Tuesday, driven by buoyant demand for its desktops and notebooks from remote workers and learners during the COVID-19 pandemic.
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France's Macron eyes COVID-19 vaccination starting by year-end
PARIS: French President Emmanuel Macron said on Tuesday a vaccine to prevent COVID-19, the illness caused by the novel coronavirus, could start being administered as soon as the end of the year in France if approved by regulators.
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Oil price closes at highest level since March
NEW YORK: Oil rose about 4% on Tuesday to touch highs not seen since March as a third promising coronavirus vaccine raised hope for fuel- demand recovery and U.S. President-elect Joe Biden began his transition to the White House.
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Water supply disruption in 27 areas in Kuala Langat, Sepang until Wednesday
KUALA LUMPUR: A total of 27 areas in Kuala Langat and Sepang are experiencing scheduled water supply disruption from 9pm Tuesday (Nov 24) until 5.30pm Wednesday (Nov 25).
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40 production companies get RM13.9 mil from FINAS
PUTRAJAYA (Nov 24): Some 40 production companies have received offer letters for funds totalling RM13.927 million from the National Film Development Corporation’s (FINAS) Digital Content Fund (DKD) ...
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Two workshops demolished in anti-river pollution ops in Rawang
RAWANG (Nov 24): Two heavy machinery workshops located near Sungai Rawang were demolished by the authorities today, in an operation to weed out premises suspected of polluting water sources and causin...
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Covid-19: Jeffrey Kitingan given supervision, observation clearance
KOTA KINABALU (Nov 24): Sabah Deputy Chief Minister Datuk Dr Jeffrey Kitingan said he was given clearance from undergoing supervision and observation under the Prevention and Control of Infectious Dis...
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Terrorism: Malaysian among 16 foreigners repatriated from Singapore
SINGAPORE (Nov 24): A Malaysian was among 16 foreigners who were repatriated from Singapore as part of heightened security posture, following a spate of terror attacks in France and elsewhere.
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Msia-Thai border shooting occurred after GOF personnel stumbled upon smugglers...
KUALA LUMPUR (Nov 24): The shootout at the Malaysia-Thailand border between two General Operations Force (GOF) personnel and a group of drug smugglers this morning happened spontaneously, said Inspect...
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Allocation to ensure conducive learning environment — Radzi Jidin
KUALA LUMPUR (Nov 24): Budget 2021, which includes a RM620 million allocation for school maintenance, should be approved to ensure a conducive learning environment for students.
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Felcra, Baladna to expand dairy business worth RM2 bil
KUALA LUMPUR (Nov 24): Felcra Bhd and Baladna Food Industries, under their strategic cooperation worth RM2 billion, will expand their large-scale integrated dairy business with the application of new ...
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New taxes will only be introduced when economy recovers — Tengku Zafrul
KUALA LUMPUR (Nov 24): The introduction of any new taxes will only be implemented when the economy has recovered, said Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.
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Grab drivers, delivery riders' complaints get Muhyiddin's attention
KUALA LUMPUR (Nov 24): The grouses of Grab drivers and delivery riders have caught the attention of Tan Sri Muhyiddin Yassin, as he met a group of them today at the Grab Drivers Centre in Petaling Jay...
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Bersatu to hold general assembly virtually on Nov 28 — Hamzah Zainudin
KUALA LUMPUR (Nov 24): The 2020 Parti Pribumi Bersatu Malaysia (Bersatu) annual general assembly will be held virtually, via video conference on Saturday (Nov 28).
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Customer-centric supply chains crucial for a growth agenda
A customer-centric supply chain means the ability to reach customers where they are in the most cost-efficient and scalable way.
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Berjaya Land, Inari, Hong Leong Industries, AirAsia, ARB, Malakoff, UEM Sunrise...
KUALA LUMPUR (Nov 24): Based on corporate announcements and news flow today, stocks that may be in focus tomorrow (Nov 25) include: Berjaya Land Bhd, Inari Amertron Bhd, Hong Leong Industries Bhd, Air...
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Elon Musk now world’s second wealthiest person
The South African-born Musk, 49, added US$7.2 billion (RM29.4 billion) in wealth yesterday alone following Tesla’s latest surge.
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Tesla mulls expanding in Europe with compact vehicles, says CEO
“Possibly in Europe it would make sense to do, I guess, a compact car, perhaps a hatchback or something like that,” Musk told an European online conference on batteries hosted by the German govern...
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Europe sets in motion January end to Boeing 737 MAX safety ban
The European Union Aviation Safety Agency (EASA) set out conditions for putting the grounded jets back into service, including new training and updating MCAS software implicated in the crashes that ki...
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Britain warns tech firms over risks of China expansion
Under a new law put forward separately today, telecoms companies could be fined up to 10 per cent of turnover or £100,000 (RM545,175) a day if they contravene a ban on using equipment made by Chinese...
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US stocks boosted by start of Biden White House transition
Outgoing President Donald Trump still has not conceded his election defeat, but yesterday night, his administration authorised a transition, clearing the way for President-elect Joe Biden to have acce...
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China economic activity can return to reasonable range in 2021, says Premier Li
“China’s economy this year can achieve positive growth, and we expect next year (economic) operations can recover to a reasonable range,” Li told a news conference with leaders of six major inte...
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Top Glove buys back more shares; total amount spent since September rises to...
KUALA LUMPUR (Nov 24): Top Glove Corp Bhd continued buying back its own shares for the 11th consecutive trading day today, even as it is grappling with a huge number of Covid-19 cases within its workf...
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Pos Malaysia 3Q loss narrows with mild operating profit
KUALA LUMPUR (Nov 24): Pos Malaysia Bhd’s net loss narrowed to RM7.43 million in the third quarter ended Sept 30, 2020 (3QFY20), from RM19.02 million in the preceding quarter, on the back of easing ...
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ARB partners with Chinese telco to undertake smart building projects in Malaysia
KUALA LUMPUR (Nov 24): ARB Bhd has teamed up with China’s state-owned China United Network Communications Group Co Ltd (China Unicom) to undertake smart building projects and other ancillary busines...
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Covid-19: 119 clusters of infection originate from workplaces
KUALA LUMPUR (Nov 24): The Ministry of Healthy (MOH) has detected a total of 334 clusters of Covid-19 infections, of which 119 originate from workplaces, according to Health director-general Tan Sri D...
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AirAsia Group’s net loss widens to RM851.78m in Q3
Revenue plunged 86 per cent to RM442.91 million during the quarter under review from RM3.07 billion previously, as the Covid-19 pandemic continued to adversely affect demand for flights, said the low-...
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IATA: Virus crisis to cut airline 2020 revenues by 60pc
“The Covid-19 crisis threatens the survival of the air transport industry,” with 2020 likely to go down in history as its “worst” year ever, IATA said.
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Caribbean resorts get starring role in US airlines’ Covid-19 holiday playbook
Beachside resort destinations in areas like Cancun are the only spots that now have more flights from US cities scheduled for November and December than last year, numbers from aviation data firm Ciri...
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Class action lawsuits to become EU law
The measure will become law within the next two years, once it is published in EU’s official administrative gazette, and member states change their laws to include it.
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Wah Seong sinks deeper into the red in 3Q with adjustments totalling RM265.2m
KUALA LUMPUR (Nov 24): Wah Seong Corp Bhd’s net loss ballooned to RM255.83 million in its third quarter ended Sept 30, 2020 (3QFY20) from RM29.64 million in 2QFY20, despite an improvement in revenue...
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EVENING 5: Five things you need to know today
EVENING 5: AirAsia fights to keep flying Dirty dealings.
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MyEG 3Q net profit rises on Covid-19 health screenings, online grocery sales
KUALA LUMPUR (Nov 24): My EG Services Bhd (MyEG) has reported a net profit of RM70.74 million for the third quarter ended Sept 30, 2020, on revenue of RM136.09 million.
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Hong Leong Industries returns to the black in 1QFY21
KUALA LUMPUR (Nov 24): Hong Leong Industries Bhd swung back to the black in its first financial quarter ended Sept 30, 2020 (1QFY21) with a net profit of RM50.72 million after posting a loss in the im...
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Leong Hup 3Q net profit up 38.5% q-o-q on improved revenue in Vietnam
KUALA LUMPUR (Nov 24): Leong Hup International Bhd's net profit came in higher at RM22.52 million in the third quarter ended Sept 30, 2020 (3QFY20), up 38.5% quarter-on-quarter (q-o-q) against RM16.27...
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Omesti unit bags RM19.88m network equipment maintenance contract from Federal...
KUALA LUMPUR (Nov 24): Omesti Bhd’s unit has a bagged a two-year contract to provide network equipment maintenance services for the Federal Court’s eCourts Phase 2 project.
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France taps experts on how to pay off Covid debt mountain
Around a dozen people “with varying and highly experienced profiles” will be tasked with charting the post-Covid course for France’s battered public finances, Dussopt told AFP.
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India’s love affair with coal cools as pressure grows on sector
Research was released showing a drop in investment days after Prime Minister Narendra Modi reaffirmed the country’s commitment to exceeding its targets under the Paris climate agreement.
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Wan Junaidi: Entrepreneur Development Ministry to boost SME businesses via e-commerce platform
KUALA LUMPUR, Nov 24 — The Ministry of Entrepreneur Development and Cooperatives (Medac) intends to assist small and medium enterprises (SMEs) to strengthen their businesses through the e-commerce p...
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Airlines set to lose US$157bil amid worsening slump - IATA
PARIS (Reuters) - Airlines are on course to lose a total US$157 billion this year and next, their main global body warned on Tuesday, further downgrading its industry outlook in response to a second wave of coronavirus infections and shutdowns afflicting major markets.
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AirAsia looks beyond losses to travel return
KUALA LUMPUR (Reuters) - AirAsia Group Bhd reported its fifth consecutive quarterly loss on Tuesday as the COVID-19 pandemic took its toll on travel in the third quarter.
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Tan Chong Motor sees vehicle sales recovery in 3Q, boosted by sales tax...
KUALA LUMPUR (Nov 24): Tan Chong Motor Holdings Bhd narrowed its net loss to RM7.33 million for its third quarter ended Sept 30, 2020 (3QFY20), from RM79.36 million in 2QFY20, as it saw a rebound in v...
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CIMB Singapore has announced replacements for the 3 heads that were fired...
SINGAPORE (Nov 24): CIMB Singapore, in another internal memo to staff, has announced its new heads for its consumer banking, commercial banking and corporate and investment banking in its Singapore of...
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Berjaya Land narrows losses by 69.4% in 1Q, compared to previous quarter
KUALA LUMPUR (Nov 24): Berjaya Land Bhd has managed to narrow its losses by 69.4% to RM41.88 million for its first financial quarter ended Sept 30, 2020 (1QFY21), compared to a loss of RM136.77 millio...
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UEM Sunrise’s 3Q losses narrow on greater construction activities and higher...
KUALA LUMPUR (Nov 24): While UEM Sunrise Bhd remained in the red in the third quarter ended Sept 30, 2020 (3QFY20), the net loss narrowed to RM28.87 million, from RM93.36 million in 2QFY20. This was a...
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AirAsia 3Q net loss narrows q-o-q as domestic markets show recovery
KUALA LUMPUR (Nov 24): AirAsia Group Bhd reported a narrower net loss of RM851.78 million in the third quarter ended Sept 30, 2020 (3QFY20), against RM992.89 million in the preceding quarter, driven b...
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Inari Amertron’s 1Q net profit jumps 47% as revenue expands
KUALA LUMPUR (Nov 24): Inari Amertron Bhd reported a 47% year-on-year jump in its net profit for the first quarter ended Sept 30, 2020 (1QFY21), as an expansion in revenue on higher volume loading of ...
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Tesla set to breach US$500b in market value
Shares of the electric-car maker have risen nearly 28 per cent since the S&P Dow Jones Indices confirmed they would add the company to Wall Street’s benchmark index from December 21.
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Ringgit ends higher against US dollar for third day running
At 6pm, the local currency stood at 4.0850/0900 versus the greenback compared with yesterday’s close of 4.0880/0930.
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CPO December contract closes lower at RM3,448
KUALA LUMPUR: The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower today, in line with the weaker soybean oil prices on the US Chicago Board of Trade (CBOT).
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Malaysia seen within reach of 40% Islamic financing target
MALAYSIA’s Islamic finance penetration rate has grown steadily over the years and looks on track to reach the central bank’s target of 40% share of total financing by the end of 2020, notwithstand...
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Wee: I will resign if I am lying about KVDT2 project
KUALA LUMPUR (Nov 24): Transport Minister Datuk Seri Dr Wee Ka Siong said today that he will quit if he is found to be lying about the Klang Valley Double Tracking 2 (KVDT2) project as well as the ong...
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Covid-19: Malaysia reports new record surge of 2,188 cases, 74% from Selangor
KUALA LUMPUR (Nov 24): Malaysia today recorded 2,188 new Covid-19 cases — its highest daily figure ever recorded — with its most populous state of Selangor contributing to 74% or 1,623 of the late...
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Pasdec publicly reprimanded for failure to submit annual report in time
KUALA LUMPUR (Nov 24): Bursa Malaysia Securities has publicly reprimanded Pasdec Holdings Bhd and its former group managing director Datuk Seri Tew Kim Thin for failing to submit the group's 2018 annu...
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Covid-19: Teratai cluster linked to Top Glove dorms records 1,511 new cases,...
Covid-19: Teratai cluster linked to Top Glove dorms records 1,511 new cases, says MoH
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Norway extends duration of pandemic loan guarantees to airlines
The revised plan will give airlines up to three years to repay loans guaranteed by the government, an increase from two years originally, the Industry Ministry and the Ministry of Transportation said ...
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German business morale dips again on virus spike
The Ifo institute’s monthly barometer slid to 90.7 points from 92.5 points in October, marking the second drop in a row after five months of increases.
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Bitcoin close to all-time high after topping US$19,000
The world’s most popular cryptocurrency was last up three per cent at US$18,918, near its all-time record of US$19,666. Bitcoin has gained almost 40 per cent in November alone and is up around 160 p...
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Travel, commodity stocks boost London shares on vaccine hopes
The commodity-heavy index rose 0.8 per cent, with energy and mining stocks jumping on higher crude and metal prices.
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KL shares slide on Budget 2021 voting pressure
The benchmark FTSE Bursa Malaysia KLCI (FBM KLCI) meanwhile was also in the red, declining 1.19 per cent or 19.09 points to end at 1,578.39 from yesterday’s close of 1,597.48.
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Leong Hup International's 3Q results up on-quarter
KUALA LUMPUR: Integrated poultry company Leong Hup International Bhd recorded an improvement in its third quarter results ended Sept 30,2020 from a quarter ago with net profit at RM22.53mil on revenue of RM1.57bil.
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Inari sees strong demand for 5G RF components as Q1 net profit soars
KUALA LUMPUR: Inari Amertron Bhd reported a jump in quarterly earnings, boosted by higher revenue generated by its radio frequency (RF) business and the reversal in deferred tax provision.
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PBA 3Q net profit jumps nearly 83% to RM11.3m
KUALA LUMPUR: Penang water supply operator PBA Holdings Bhd saw its net profit jump by 82.8% to RM11.30mil in the third quarter ended Sept 30,2020 from RM6.18mil a year ago boosted by an increase in domestic water revenue.
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Syarikat Takaful Malaysia Keluarga’s 3Q net profit falls on lower family...
KUALA LUMPUR (Nov 24): Syarikat Takaful Malaysia Keluarga Bhd (STMKB) saw lower family takaful product sales in the third quarter ended Sept 30, 2020 (3QFY20), resulting in its net profit declining by...
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AirAsia Group 3Q net loss widens to RM852m from RM51m net loss a year earlier
AirAsia Group 3Q net loss widens to RM852m from RM51m net loss a year earlier
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Pneumococcal vaccine available at public health facilities by December, says...
KUALA LUMPUR (Nov 24): The pneumococcal vaccination provided free under the National Immunisation Programme for Children, will be available at public health facilities beginning Dec 1.
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ARB 3Q net profit up marginally at RM8.4m on improved revenue
KUALA LUMPUR (Nov 23): ARB Bhd's net profit for the third quarter ended Sept 30, 2020 (3QFY20) inched up 1.27% to RM8.4 million from RM8.29 million a year ago, despite a significant jump in revenue.
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Malaysia suffers after Covid-19 outbreak hits rubber glove maker
BENGALURU (Nov 24): Stock markets in Malaysia declined 1% on Tuesday, weighed down by losses for the world's top latex glove maker Top Glove, after more than 2,000 of its workforce tested positive for...
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Sterling gains as risk sentiment improves
News yesterday that AstraZeneca’s vaccine for the coronavirus could be around 90 per cent effective boosted sentiment.
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Germany revises up Q3 economic growth
The record increase in gross domestic product (GDP) beat the preliminary estimate of 8.2 per cent  quarter-on-quarter announced in October, federal statistics agency Destatis said.
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Moody’s Investors Service: Survival of businesses challenging in Covid-19 situation
It said the pandemic has already inflicted enormous damage on the hardest-hit sectors and will continue to undermine their financial condition and prospects, with repeated virus outbreaks and lockdown...
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Emirates remain optimistic on outlook in Malaysia
He said the international airline has recently increased its flight frequency between Kuala Lumpur and Dubai from its existing four-time to five-time weekly service when other airlines decided to grou...
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Majuperak returns to profit after three consecutive loss-making quarters
KUALA LUMPUR: Majuperak Holdings Bhd returned to the black for its third quarter ended Sept 30 with a net profit of RM2.23mil, after three straight quarterly losses.
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UEM Sunrise posts RM28.9mil loss in Q3
KUALA LUMPUR: Property developer UEM Sunrise Bhd remained in the red for a third consecutive quarters, but is planning to ramp up new launches amid a pick up in sales.
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Over 1,000 stocks in red on Budget, Top Glove woes
KUALA LUMPUR: Bursa Malaysia recorded more than 1,000 counters in the red at the close on Tuesday on concerns about the ability of the government to get a majority of the MPs to support the Budget 2021 proposals on Thursday.
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The quick and quiet rise of RM2 stores
A number of businesses have had to close down amid an extremely tough operating environment, but a particular category of stores has been seeing growing demand in Malaysia.
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CPOPC, MPOC want sexual assault allegations in palm oil industry investigated
KUALA LUMPUR (Nov 24): The secretariat of the Council of Palm Oil Producing Countries (CPOPC) says it views with grave concern the allegations of sexual harassment and assault against women in the pal...
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FBM KLCI closes down 19.09 points at 1,578.39
FBM KLCI closes down 19.09 points at 1,578.39
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Ex-CEO of glove maker WRP charged with CBT
SHAH ALAM (Nov 24): Datuk Lee Son Hong, a former chief executive officer (CEO) of glove manufacturer WRP Asia Pacific Sdn Bhd, was charged in the Sessions Court here today with eight counts of crimin...
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Tengku Zafrul: Evaluate Budget 2021 to gauge govt's determination in...
KUALA LUMPUR (Nov 24): The people need to evaluate the salient points of Budget 2021 to gauge the government's determination in championing the vulnerable groups who are currently facing difficulti...
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Monitoring stations to detect various types of pollution, Dewan Rakyat told
KUALA LUMPUR (Nov 24): Thirty monitoring stations to be set up under a RM40 million Budget 2021 allocation are not limited to detecting water contamination but are also capable of detecting various ty...
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Seven-member bench to hear appeal determining if political parties can sue...
PUTRAJAYA (Nov 24): A seven-member Federal Court bench will hear the appeal by Kepong Member of Parliament (MP) Lim Lip Eng in a defamation lawsuit to determine a legal question about whether politica...
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Malaysia adopts comprehensive approach to ensure Covid-19 under control
KUALA LUMPUR (Nov 24): Malaysia has adopted a comprehensive approach based on fundamental public health measures, the whole-of-government, as well as the whole-of-society to ensure that the Covid-...
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Council of Palm Oil Producing Countries: AP report intentionally harms image of palm oil industry
In a statement today, the CPOPC said the few unconfirmed interviews published by the United States-based news agency in the article were selected to intentionally harm the image of the palm oil indust...
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Hotel nights booked in Spain in October fall 83pc on travel restrictions
The October data was worse than the 78 per cent fall recorded in September after new measures were taken throughout the country to stop a second wave of Covid-19 infections.
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Hong Kong shares end slightly higher
The Hang Seng Index added 0.39 per cent, or 102.00 points, to 26,588.20.
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European stock markets advance at open
Frankfurt’s DAX 30 index rose 0.8 per cent to 13,236.63 points and the Paris CAC 40 jumped 1.0 per cent to 5,544.43.
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Frankfurt DAX index to add 10 companies
The change, aimed at bringing the index into “line with international standards,” will take place in September next year, it said.
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Hong Kong stocks track broader Asia higher on White House transition, vaccine hopes
Hong Kong stocks ended higher on Tuesday, tracking other Asian markets, as sentiment was lifted globally after a federal agency gave U.S. President-elect Joe Biden the go-ahead to begin his White House transition and on progress on a COVID-19 vaccine.
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JD Health to raise US$4b in HK's largest IPO of 2020
HONG KONG: JD Health, the healthcare arm of Chinese e-tailer JD.com Inc, aims to raise up to $4 billion in Hong Kong's largest initial public offering (IPO) of 2020, three people with direct knowledge of the matter told Reuters.
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OCBC Malaysia banks on digital for growth
IT is undeniable that digitalisation will expand the reach of banks, especially the foreign ones in Malaysia that have a limited number of branches, but how effective is it in terms of translating int...
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Water conundrum in Selangor
IN a brief conversation with The Edge last week, a director of Pengurusan Air Selangor Sdn Bhd declined to comment on the many disruptions of water supply in the state.
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Parliament Speaker clarifies Kitingan received MoH release order after...
KUALA LUMPUR (Nov 24): Parliament Speaker Datuk Azhar Azizan Harun clarified today that Keningau Member of Parliament (MP) Datuk Dr Jeffrey Kitingan received a quarantine order from the Ministry of...
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Palm oil industry adapting to new norm, business model despite Covid-19 — MPOB
KUALA LUMPUR (Nov 24): The palm oil industry seems to have quickly adapted to the new norm and new business model driven by the Covid-19 scenario after experiencing a slowdown in exports and prices in...
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Govt disbursed RM1.033b loans under Penjana SME financing as at Nov 13, says...
KUALA LUMPUR (Nov 24): The government has approved 4,937 loan applications from small and medium enterprises (SMEs) worth RM1.033 billion to support businesses under the Penjana SME Financing Scheme...
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Malaysian lawmaker calls for hate speech law after Reuters' Rohingya report
KUALA LUMPUR (Nov 24): An opposition lawmaker called on Tuesday for Malaysia to outlaw online hate speech, accusing authorities of downplaying the gravity of an issue highlighted by a Reuters investig...
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PAC recommends establishment of integrated foreign worker recruitment system
KUALA LUMPUR (Nov 24): The Home Ministry (KDN) and the Human Resources Ministry (KSM) should set up an integrated system for the management and control of the recruitment of foreign workers to ensure ...
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EC: Special meeting on Nov 27 to discuss Gerik, Bugaya by-elections
PUTRAJAYA (Nov 24): The Election Commission (EC) will hold a special meeting to discuss important dates for the by-elections scheduled to take place in the Gerik parliamentary constituency in Perak an...
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Brent hits highest since March, spurred by vaccine hopes
SINGAPORE: Brent crude prices hit their highest levels since March as news of a third promising coronavirus vaccine candidate spurred hopes of a quicker recovery in oil demand, while U.S. President-el...
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Credit Suisse flags $450m impairment on York Capital Mgmt stake
ZURICH: Credit Suisse expects to take a roughly $450 million impairment on its stake in alternative investment firm York Capital Management, the Swiss bank said.
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S.Korea stocks close at record high on vaccine hopes, Biden transition
SEOUL: South Korean shares ended at a record high on Tuesday, with Samsung Electronics leading gains, as COVID-19 vaccine developments and U.S. President-elect Joe Biden receiving formal approval for his White House transition boosted sentiment.
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Insider Moves: Ekovest Bhd, SC Estate Builder Bhd, Tadmax Resources Bhd, Menang...
ON Oct 30, Ekovest Bhd acquired a total of 89.14 million shares in PLS Plantations Bhd through a private arrangement with shareholders of the plantation group as part of a takeover offer for PLS.
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Bintai Kinden eyes vaccine foray to cushion M&E volatility
BINTAI Kinden Corp Bhd’s healthcare venture stems from the need to create a new source of income in view of the fluctuation seen in its core mechanical and electrical (M&E) engineering business, whi...
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AirAsia sees travel behaviour returning to normal by 2022 — report
KUALA LUMPUR (Nov 24): AirAsia Group Bhd anticipates travel behaviour to return to normal by 2022 and is restructuring its business, which has been hard hit by the Covid-19 pandemic, to prepare for t...
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MITI disburses MDG grants worth RM20.85m till Oct 31
KUALA LUMPUR (Nov 24): The Malaysia External Trade Development Corporation (MATRADE) has disbursed RM20.85 million to local companies under the Market Development Grant (MDG) scheme during the Jan 1-O...
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Asia Brands jumps 24.7% after posting four-fold jump in 2Q net profit
KUALA LUMPUR (Nov 24): Baby clothes and lingerie retailer Asia Brands Bhd saw its share price jump by as much as 24.68% or 19.5 sen to 98.5 sen in intramorning trade today after the company announced ...
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Muhyiddin appreciates contributions of GIACC's Abu Kassim in tackling corruption
KUALA LUMPUR (Nov 24): Prime Minister Tan Sri Muhyiddin Yassin expressed his appreciation to the National Centre for Governance, Integrity and Anti-Corruption (GIACC) director-general Tan Sri Abu Ka...
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'Alone in the dark': S. Korea's small businesses reel from new virus clampdown
SEOUL, Nov 24 — A new round of social distancing rules took effect today in the South Korean capital of Seoul, dealing a blow to small business owners despite brighter hopes for economic recovery af...
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Land & General posts stronger 2Q financial results
KUALA LUMPUR: Land & General Bhd reported stronger financial results in the second quarter ended Sept 30 with pre-tax profit of RM21mil on a revenue of RM51.90mil.
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CCK 3Q net profit rises 20% to RM9.25mil
PETALING JAYA: East Malaysian retail chain store and supermarket operator CCK Consolidated Holdings Bhd posted a 20.2% year-on-year increase in net profit to RM9.25mil for the third quarter ended September 30, 2020.
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Aneka Jaringan unit forms joint venture
KUALA LUMPUR: Aneka Jaringan Holdings Bhd’s wholly-owned subsidiary, Aneka Jaringan Sdn Bhd, has formed a joint venture (JV) company in the Philippines with Sunway Geotechnics (M) Sdn Bhd (SunGeo) and Pertama Crane & Engineering Sdn Bhd.
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MCO does not slow down customs auditing process — deputy DG
KUALA LUMPUR (Nov 24): Royal Malaysian Customs Department deputy director-general (DG) for enforcement and compliance Datuk Haji Johari Alifiah said audit processes nationwide are still ongoing, desp...
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Water sabotage prosecution shows govt’s seriousness — Tuan Ibrahim
KUALA LUMPUR (Nov 24): The prosecution of two individuals under the Security Offences (Special Measures) Act 2012 (SOSMA) for sabotaging water services in Selangor yesterday clearly demonstrates that ...
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To thrive in ageing society, Malaysia must improve in three areas — World Bank
KUALA LUMPUR (Nov 24): Fostering productivity, protecting incomes and building an inclusive aged care system are the three main policy recommendations the World Bank has for Malaysia to cope with tran...
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Policies needed to foster workers' productive employment, says Mustapa
KUALA LUMPUR (Nov 24): Policies are needed that foster workers’ productive employment such as enhanced opportunities for training and lifelong learning, said Minister in the Prime Minister’s Depa...
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Dancomech, Golden Pharos, PPHB, Asia Brands, Chuan Huat, Eonmetall, Harn Len,...
KUALA LUMPUR (Nov 24): theedgemarkets.com highlighted nine stocks at Bursa Malaysia's afternoon break today.
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Analysts have mixed views on Sunway REIT outlook following lacklustre earnings
KUALA LUMPUR (Nov 24): Analysts gave mixed reviews on Sunway Real Estate Investment Trust (REIT) after the group posted results that are below expectations.
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Philippine shares ease on profit taking; Top Glove weighs on Malaysia
BENGALURU (Nov 24): Philippine stocks fell on Tuesday as investors cashed in on gains made on the back of a surprise interest rate cut last week, while a slump Malaysia's heavyweight Top Glove Corp B...
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US$169b for 29,000 lives? Study calculates cost of US shutdowns
WASHINGTON, Nov 24 — There's little doubt that government-ordered business shutdowns to stop the spread of Covid-19 damaged the US economy, but the exact cost has not been clear.
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Tested by taxonomy: EU green finance rules leaky for ships, tight for houses
BRUSSELS, Nov 24 — Months of EU deliberation to decide which business activities can be marketed as green investments have produced a set of draft standards some finance officials and NGOs say are l...
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Hong Kong exchange plans smart contract solution for Stock Connect problems
HONG KONG: Hong Kong Exchanges and Clearing Ltd (HKEX) on Tuesday said it will introduce a new platform with so-called smart contracts to resolve long-standing inconveniences for overseas investors trading Chinese shares via its Stock Connect scheme.
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Post-Budget 2021: Integrity is essential for education budget
Budget 2021 has allocated RM50.4 billion for schools and education, or 15.6% of total government expenditure.
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KLCI falls 0.61% on profit-taking consolidation, Budget 2021 voting jitters
KUALA LUMPUR (Nov 24): The main index of Bursa Malaysia fell 0.61% before the midday break today on profit-taking consolidation as well as investor jitters ahead of the Budget 2021 vote on Thursday.
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Malakoff 3Q net profit from continuing operations down 38% on-year at RM51m
Malakoff 3Q net profit from continuing operations down 38% on-year at RM51m
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Mah Sing Properties loses appeal, ordered to pay RM322,000 damages
PUTRAJAYA (Nov 24): Mah Sing Properties Sdn Bhd was ordered to pay more than RM322,024.88 in liquidated ascertained damages (LADs) by the Court of Appeal (COA) last week after it failed in its final...
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Jewellers fall as gold lost lustre
KUALA LUMPUR (Nov 24): Shares in jewellers Poh Kong Holdings Bhd and Tomei Consolidated Bhd fell this morning as gold prices slumped 2% to a four-month low yesterday.
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Retailers could lose up to 20% of annual revenue from tobacco excise tax in...
KUALA LUMPUR (Nov 24): Retailers could lose up to 20% of their annual revenue from the tobacco excise tax in duty-free areas.
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NZ govt asks cenbank to include taming red-hot housing in remit, NZ$ jumps
WELLINGTON, Nov 24 — The New Zealand government has asked the central bank to consider factoring house price stability as part of its broad monetary remit, Finance Minister Grant Robertson said, boo...
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Top Glove, Budget worries weigh on sentiment
KUALA LUMPUR: Investors' concerns about whether the Budget 2021 would get majority approval in Parliament on Thursday and the closure of some of Top Glove's plants weighed on Bursa Malaysia at midday on Tuesday.
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Supermax likely to join FBM KLCI in next review
KUALA LUMPUR: Supermax Corp Bhd will likely be joining the FTSE Bursa Malaysia KLCI constituents in its next review following the rise in its market capitalisation.
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Foreign demand for Malaysian bonds strong in October, RAM says
KUALA LUMPUR: Foreign demand for Malaysian bonds stayed sturdy in October, with the domestic bond market charting its sixth consecutive month of net foreign inflows, which totalled RM8bil, RAM Ratings said.
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Post-Budget 2021: The case for a debt jubilee
“You can’t cross the sea merely by standing and staring at the water.” — ­Rabindranath Tagore, Indian Poet Laureate (1861-1941) Life-changing events can and do sometimes shake us to our core.
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Analysts raise Sime Darby Plantation earnings forecast on higher palm oil prices
KUALA LUMPUR (Nov 24): Analysts have raised Sime Darby Plantation Bhd (SDP) earnings forecast to reflect higher upstream contribution amid improving crude palm oil (CPO) prices.
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Technofit picks Epicor for integration of business processes
KUALA LUMPUR (Nov 24): Boiler services and maintenance provider Technofit Sdn Bhd has picked industry-specific enterprise software provider Epicor Software Corporation’s enterprise resource planning...
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EPF’s 40%-owned associate Kesturi to defer a portion of bond coupon payment —...
KUALA LUMPUR (Nov 24): CIMB Investment Bank Bhd said Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi) will defer a portion of the cumulative coupon payment due on Dec 2, 2020 for the highwa...
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Carrefour Brasil shares plunge as Brazilians protest killing of Black man at store
PORTO ALEGRE, Nov 24 — Supermarket chain Carrefour Brasil's share price plummeted 6 per cent in afternoon trading yesterday after the death of a Black man beaten by security guards last week at one ...
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Zaid sues Zaid Ibrahim & Co
KUALA LUMPUR (Nov 24): Former de-facto Law Minister Datuk Mohamed Zaid Ibrahim has filed a suit against his former law firm Messrs Zaid Ibrahim & Co, following the termination of his chairmanship in ...
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Cloud kitchens the new norm, says foodpanda director
KUALA LUMPUR (Nov 24): With a ballpark figure of RM300,000 to RM1 million to start a physical restaurant in a prime location in Kuala Lumpur, this provides a good motive for the shift towards cloud k...
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Top Glove falls as much as 7.48% on temporary disruption to 28 factories in...
KUALA LUMPUR (Nov 24): Top Glove Corp Bhd fell as much as 55 sen or 7.48% to RM6.80 in morning trade after the group confirmed that it would temporarily shut down 28 factories in Klang, Selangor foll...
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Stay alert amid unpredictable weather, says Johor Sultan
JOHOR BARU (Nov 24): The Sultan of Johor, Sultan Ibrahim Sultan Iskandar, has advised people in all districts to stay alert in view of the current unpredictable weather conditions.
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CGS-CIMB: Investors continue to switch to Covid-19 recovery theme plays
KUALA LUMPUR (Nov 24): CGS-CIMB Research observed that investors continued to switch to Covid-19 recovery plays (transport, energy and consumer), and expanded to include beneficiaries of an economic...
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MBSB Bank offering Targeted Repayment Assistance to B40 and M40 groups
KUALA LUMPUR, Nov 24 — MBSB Bank Berhad will be offering those in the B40 and M40 groups a helping hand with a Targeted Repayment Assistance programme that will further assist those who are adversel...
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Bursa Malaysia opens lower on concerns over Budget 2021 vote
KUALA LUMPUR, Nov 24 — Bursa Malaysia opened on a lower note today on lingering concerns over the Budget 2021 voting on Thursday.
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Sweden's LKAB to invest up to US$46b in fossil-free iron
STOCKHOLM, Nov 24 — Swedish state miner LKAB said yesterday it would invest up to 400 billion Swedish kronor (US$46 billion or RM189.8 billion) to “achieve net-zero carbon emissions from its own p...
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Ringgit retreats to open lower against US dollar
KUALA LUMPUR: The ringgit retreated from yesterday’s gains to open lower against the US dollar today on a cautious mode, despite the weaker performance of the greenback.
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Sunak sets public services at heart of UK revival
Chancellor of the Exchequer will also spend on infrastructure
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Danone to cut about 2,000 jobs
PARIS: Danone will cut as many as 2,000 jobs, including one in four positions at its global headquarters in Paris, as the world’s largest yogurt maker attempts to revive profitability amid the pandemic.
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Blackstone seeks US$5bil for second Asia fund
HONG KONG: Blackstone Group Inc is doubling down on Asia, seeking to raise at least US$5bil for its second private equity fund focused on the region, people familiar with the matter said.
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Multinational companies see opportunities in China’s opening-up
GUANGZHOU: With the Covid-19 outbreak slowing down the global economic momentum, multinational enterprises see promising opportunities in China as the country continues to deepen its opening-up
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MAS announces funding of up to 25 billion yuan for banks in Singapore
SINGAPORE: Funding of up to 25 billion yuan (US$5.11bil) for banks in Singapore was announced in a new initiative by the Monetary Authority of Singapore (MAS) on Monday.
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Malaysia's Top Glove shares tumble after govt says factories to be shut
KUALA LUMPUR, Nov 24 — Shares in Malaysia's Top Glove fell as much as 7.5 per cent in early trade today, after the government said some of its factories would be closed in stages for Covid-19 screen...
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Asian stocks shoot up as vaccine progress, Biden transition boost confidence
WASHINGTON, Nov 24 — Asian stocks opened higher today as Covid-19 vaccine progress shored up global sentiment and US President-elect Joe Biden was given the go-ahead to begin his White House transit...
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Biden to inherit US economic policy deadlock
WASHINGTON, Nov 24 — From the Federal Reserve to the trading houses of Wall Street, economists and analysts agree the US economy needs more stimulus to bounce back from the coronavirus downturn.
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Top Glove, Petronas Dagangan weigh on KLCI
KUALA LUMPUR: Bursa Malaysia got off Tuesday on a cautious note as losses in Top Glove and profit taking on Petronas Dagangan weighed on the FBM KLCI amid a weaker broader market.
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Ex-Goldman banker says he warned bosses about Jho Low, 1MDB
NEW YORK (Bloomberg): Former Goldman Sachs Group Inc banker Roger Ng says he "warned” the bank not to do business with Jho Low, while asking for the foreign bribery case against him (Ng) to be dismissed.
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Quick take: Oil and gas counters boosted by oil price optimism
KUALA LUMPUR: Oil and gas (O&G) related counters dominated the list of most active stocks on the local bourse in early trade Tuesday as oil prices hit a two-month high.
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Top Glove shares slump on closure of plants due to Covid-19
KUALA LUMPUR: Shares of Top Glove Corporation Bhd fell to a low of RM6.80 early Tuesday trade after 28 of its factories in Kapar, Klang, will be closed in stages following a surge in Covid-19 cases.
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Quick take: Serba Dinamik rises 2% on earnings beat
KUALA LUMPUR: Serba Dinamik Holdings Bhd’s shares rose over 2% in early trade Tuesday after beating analyst expectations in its latest quarterly results.
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Keppel Corp’s business units get new leaders
SINGAPORE: Keppel Corp yesterday announced a slew of leadership changes at a few of its key business units including the property, infrastructure and investment arms.
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Four factors to determine Spore’s pace of recovery
SINGAPORE: While Singapore is turning the corner in its economic recovery, it still has a long way to go as it adapts to the new realities of the Covid-19 world, said Trade and Industry Minister Chan Chun Sing yesterday.
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HLT posts lower earnings
KUALA LUMPUR: HLT Global Bhd, a maker of glove-dipping lines and rubber gloves, reported a surge in quarterly revenue, but its earnings in the three-month ended Sept 30 were lower due to a sharp increase in operating expenses.
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Maxis kept at ‘hold’, fair value unchanged
PETALING JAYA: AmInvestment Research is maintaining Maxis’ “hold” rating with an unchanged discounted cashflow (DCF) derived fair value of RM5.50 a share.
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Serba Dinamik Q3 net profit jumps 30.8%
PETALING JAYA: Serba Dinamik Holdings Bhd’s net profit rose 30.8% to RM148mil in the third quarter (Q3) ended Sept 30 from RM113.2mil in the corresponding period last year, in tandem with its higher revenue.
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Assess viability of revenue streams, SMEs advised
PETALING JAYA: Small and medium enterprises (SMEs) need to decide which revenue streams need to be rationalised or maintained amid the current challenging environment.
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US directs GM to recall 5.9 million autos with Takata airbags
NEW YORK, Nov 24 — US auto safety authorities ordered General Motors to recall nearly six million pickup trucks and sport utility vehicles to replace defective Takata airbags, officials said Monday.
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Yen on slippery ground as Yellen, Trump transition news boost risk appetite
TOKYO, Nov 24 — The yen was on the back foot while riskier currencies were supported today on rising optimism following news US President-elect Joe Biden is expected to tap former Federal Reserve Ch...
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Pipe dreams leave US energy firms caught in climate trap
NEW YORK, Nov 24 — In remote northern Michigan a propane shortage in early 2014 caused prices to nearly double, squeezing about half of the families there who rely on the fossil fuel to heat their h...
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Germany to take on more new debt than expected in 2021
FRANKFURT, Nov 24 — Germany plans to take on €166 billion (RM805 billion) in new debt next year, according to a draft bill seen by AFP, as measures to curb the second wave of the pandemic eat into...
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Sime Plantation to deliver best quarterly in 4Q
KUALA LUMPUR: Sime Darby Plantation is expected to deliver its best quarterly in the fourth quarter of 2020 on better crude palm oil (CPO) price, Maybank Investment Bank Research says.
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