Business

The Edge Markets:

NWP sues ex-director for breach of fiduciary duty

KUALA LUMPUR (June 20): Timber products manufacturer NWP Holdings Bhd and its wholly-owned subsidiary NWP Builder Sdn Bhd have launched legal action against its former executive director (ED) Datuk Z...

Zhang Li | NWP Builder Sdn Bhd | NWP Holdings Bhd | ED | Listari Marina | KUALA LUMPUR | LM | Zhang | Words | MM2H) Sdn Bhd | OneLe Tower | Messrs Weng Seng & Co | Bursa Malaysia | Melaka | Cherish Words Sdn Bhd | RM6.5 million | June 20 | May 6 | 2016 | Feb 22 | 2018 | Feb 12 | 2018 | Nov 4 | 2016 | Dec 12 | 2017 | Nov 5

The Edge Markets:

Genting Malaysia, Kerjaya Prospek, Boustead Holdings, KKB Engineering, Seacera...

KUALA LUMPUR (June 20): Based on corporate announcements and news flow today, stocks in focus on Friday (June 21) may include Genting Malaysia Bhd, Kerjaya Prospek Group Bhd, Boustead Holdings Bhd, KK...

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Malay Mail:

Irish PM sees ‘enormous hostility’ to Brexit delay

BRUSSELS, June 20 — Irish Prime Minister Leo Varadkar warned today there is “enormous hostility” in the European Union to allowing Britain to delay Brexit once again to seek new concessions from...

The Edge Markets:

Malaysian pineapples in demand, can emulate success of Musang King durian

PUTRAJAYA (June 20): Malaysian pineapples especially the MD2 variety are gaining popularity and have the potential for development as an industry to match the success of the Musang King durian, said A...

The Edge Markets:

Malaysia set to capitalise on opportunities from US-China trade war — Azmin

KUALA LUMPUR (June 20): The US-China trade war has opened a unique opportunity for Southeast Asian countries and Malaysia stands ready to exploit the economic opportunities that may ensue, said Econom...

The Edge Markets:

Fifteen students suffer breathing difficulties in Pasir Gudang

PUTRAJAYA (June 20): The incident involving 15 students from Sekolah Agama Taman Mawar in Pasir Gudang, who suffered breathing difficulties and vomiting, was possibility caused by poisonous gas, sai...

The Edge Markets:

Unite to thwart attempts to impose anti-Islamic human rights demands — King

KUALA LUMPUR (June 20): Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah today pointed out that the country’s religious institutions are constantly being subjected to pre...

The Edge Markets:

Kedah seeks compensation after stopping logging activities in Ulu Muda forest...

ALOR SETAR (June 20): Kedah is hoping that the Federal Government will compensate the losses that the State Government had to bear after stopping the logging activities in the Ulu Muda Forest Reserve ...

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The Edge Markets:

Berjaya Media narrows 4Q losses, warns of challenging year ahead

KUALA LUMPUR (June 20): Berjaya Media Bhd (BMedia), which publishes theSun newspaper, managed to narrow its losses by 38% in the fourth financial quarter ended April 30, 2019 (4QFY19) amid the absenc...

The Edge Markets:

RM10-RM44 Discounts for prepaid, postpaid and fixed lines for OKU — Gobind

PUTRAJAYA (June 20): Persons with disabilities (OKU) are now eligible for discounts between RM10 and RM15 for mobile prepaid and postpaid services, and between RM10 and RM44 for specific fixed line pa...

Malay Mail:

Dovish Fed lifts US stocks back into record range

NEW YORK, June 20 — Wall Street stocks sprinted higher early today, celebrating the new dovish tilt of the US Federal Reserve and lifting the S&P 500 back into record territory.

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Malay Mail:

Apple says US tariffs on China to hurt global competitiveness

NEW YORK, June 20 — Apple Inc said proposed US tariffs on goods from China, including iPhones, iPads, and Macs, will reduce the company’s contributions to the US economy and hurt its global compet...

Malay Mail:

Airbus demands chance to bid for IAG’s surprise Boeing narrow-body order

PARIS, June 20 — Airbus called today for a chance to compete for a blockbuster plane order by British Airways owner IAG which stunned industry executives at this week’s Paris Airshow by ordering 2...

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The Star:

Only game in town, US stocks surge to records in yield chase

NEW YORK: US stocks surged to an all-time high as global central banks signaled a rising willingness to stimulate growth, sending bond yields tumbling to multiyear lows.

The Star:

Cement price not cause of rising home prices, industry says

KUALA LUMPUR: Cement price, which has been on the decline since 2016, is not the cause of the rising home prices over the period, the Cement and Concrete Association of Malaysia said on Thursday.

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The Edge Markets:

Haziq should be sacked from party — Mohamed Azmin

PUTRAJAYA (June 20): PKR deputy president Datuk Seri Mohamed Azmin Ali said he had proposed to the party leadership for Haziq Abdullah Abdul Aziz to be sacked as the latter was found to be campaigning...

The Edge Markets:

UMW Holdings' RM288m sale of Shah Alam land now deemed RPT

KUALA LUMPUR (June 20): Permodalan Nasional Bhd (PNB) has acquired a 30% stake in Strategic Sonata Sdn Bhd (SSSB) from Singapore's Mapletree Dextra Pte Ltd, leading to a proposed sale of land by UMW H...

The Edge Markets:

Cabinet did not discuss sex video issue — Dr Wan Azizah

PUTRAJAYA (June 20): The Cabinet today did not discuss the issue of the sex video implicating Economic Affairs Minister Datuk Seri Mohamed Azmin Ali, said Deputy Prime Minister Datuk Seri Dr Wan Aziza...

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The Edge Markets:

RM250 million allocated to upgrade Sultan Azlan Shah Airport

IPOH (June 20): A total of RM250 million will be allocated to upgrade the Sultan Azlan Shah Airport (LTSAS) here, said Perak Industry, Investment and Corridor Development Committee chairman Datuk Seri...

The Edge Markets:

Haziq's contract ended effective Tuesday — Ministry

KUALA LUMPUR (June 20): The Primary Industries Ministry has terminated the contract of service of its Deputy Minister’s Senior Private Secretary Haziq Abdullah Abdul Aziz effective last Tuesday.

The Edge Markets:

Mahathir arrives in Bangkok for Asean Summit

BANGKOK (June 20): Prime Minister Tun Dr Mahathir Mohamad arrived here today for a packed four-day working visit to Thailand, during which he will join nine other heads of Government for the 34th Asea...

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Malay Mail:

Oil jumps 3pc towards US$64 as Iran shoots down US drone in Gulf

LONDON, June 20 — Oil rose more than 3 per cent towards US$64 a barrel today after Iran shot down a US military drone, raising fears of a military confrontation between Tehran and Washington.

Malay Mail:

S&P 500 set to open at record high on dovish Fed

NEW YORK, June 20 — The S&P 500 index was set to open at a record high today, after the Federal Reserve reassured investors that it was ready to cut interest rates as soon as next month to counter g...

The Edge Markets:

Malindo Air flight slides off runway in Bandung, passengers safely evacuated

KUALA LUMPUR (June 20): A Malindo Air flight carrying 114 passengers and eight crew members slid off the runway during take-off at the Husein Sastranegara International Airport in Bandung, Indonesia...

Malay Mail:

Italy will play ball on deficit, PM assures Brussels

ROME, June 20 — Italy’s Prime Minister Giuseppe Conte has pledged to abide by EU fiscal rules, while insisting his country’s financial health is on the mend, despite its slowing economy.

Malay Mail:

BoE warns risk of no-deal Brexit has increased

LONDON, June 20 — The prospect of Britain crashing out of the European Union without a deal has risen since last month, the Bank of England warned today, as it kept interest rates unchanged.

The Edge Markets:

Stronger gold prices lifts Poh Kong 3Q profit

KUALA LUMPUR (June 20): Jeweller Poh Kong Holdings Bhd announced a 25% jump year-on-year in net profit for the third quarter ended April 30, 2019 (3QFY19). Its quarterly net profit leapt to RM5.39 mil...

Malay Mail:

Deutsche Bank faces FBI investigation for possible money-laundering lapses, source reveals

FRANKFURT, June 20 — The US Federal Bureau of Investigation is examining whether Deutsche Bank complied with laws meant to stop money laundering, a person with knowledge of the matter said today.

The Star:

Boustead shipyard wins RM96mil Navy contract

KUALA LUMPUR: Boustead Holdings Bhd said a subsidiary has secured a RM96mil contract from the Ministry of Defence for refit works on the offshore patrol vessel KD Terengganu.

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The Edge Markets:

Politics and Policy: Not a bad state of affairs

A lot has been said about the performance of the Pakatan Harapan (PH) coalition in running the country.

The Edge Markets:

Transmile’s Gan claims he only knew about overstated revenue after CFO's...

KUALA LUMPUR (June 20): Transmile Group Bhd’s founder and former chief executive officer Gan Boon Aun claimed that the chief financial officer Lo Chok Ping had confessed that he had overstated the a...

Lo Chok Ping | Gan Boon Aun | Deloitte & Touches | KUALA LUMPUR | Transmile Group Bhd | Lo | Mohd Hafiz Mohd Yusof | CEO | Touches | Transmile | Bursa Malaysia | SC | Securities Commission | CFO | FY06 | RM700 | 000 | May 2007 | March | May 9 | May 2008 | May 4 | 2007 | Feb 15 | 2007 | May 7 | 2007 | May 8 | 2007 | Dec 31 | 2006 | June 20

The Edge Markets:

Most of KWAP's RM4b loan to SRC spent, says ex-director Suboh

KUALA LUMPUR: SRC International Sdn Bhd has spent more than 90% of the two loans totalling RM4 billion granted to it by Kumpulan Wang Persaraan (Diperbadankan) (KWAP) in 2014, says former SRC director...

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The Edge Markets:

WCT and Hyatt to develop Hyatt Place Johor Bahru

JOHOR BARU (June 20): WCT Holdings Bhd and Hyatt Hotels Corp (Hyatt) has entered into a management agreement to develop a 200-room hotel in an integrated development that includes the largest regional...

Malay Mail:

Russians prod Putin on poverty, healthcare in phone-in

MOSCOW, June 20 — Russians today took their fears over falling incomes and a creaking healthcare system to President Vladimir Putin during a glossy annual phone-in that comes following a decline in ...

Malay Mail:

Bursa Malaysia higher on positive market sentiment

KUALA LUMPUR, June 20 — Bursa Malaysia closed higher amid positive market sentiment with US President Donald Trump and Chinese President Xi Jinping scheduled for a meeting soon to discuss ways to ea...

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Malay Mail:

Zimbabwe’s currency hits new low, firms demanding payment in US dollars

HARARE, June 20 — Zimbabwe’s interim currency fell to a new low on the black market today and local firms were demanding payment in US dollars as a hedge against inflation, which is running at its...

The Star:

Treasury 10-year yield slides below 2% to lead global decline

SINGAPORE: Treasuries led a global bond rally, with 10-year yields dropping below 2% for the first time since November 2016 as expectations grow that major central banks will ease policy.

The Star:

Sterling jumps as traders prepare for BoE to stick with rate hike message

LONDON: Sterling rallied on Thursday, bringing its two-day gains to more than 1.3% as traders prepared to see whether the Bank of England would stick to its message of interest rate hikes even after the Federal Reserve signalled it could soon ease policy.

The Star:

Indonesia central bank cuts bank reserve requirements, says next rate move is down

JAKARTA: Indonesia's central bank held its policy interest rate unchanged on Thursday, but moved to cut the reserve requirement for banks and said it was now appeared a "matter of timing and magnitude" before it made its first cut in rates since September of 2017.

The Edge Markets:

KLCI makes further gains, may see profit taking before weekend

KUALA LUMPUR (June 20): The FBM KLCI closed at its intraday high of 1,675.43 points today as positive external factors continue to support market sentiment, but an analyst does not rule out profit tak...

The Edge Markets:

Mr DIY tight-lipped over IPO, continues aggressive expansion strategy

PETALING JAYA (June 20): Malaysia's largest home improvement retailer, Mr DIY Group Sdn Bhd remains tight-lipped over its plan to launch an initial public offering (IPO) this year.

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The Edge Markets:

Malaysia appreciates JIT's report on MH17 incident

KUALA LUMPUR (June 20): Malaysia appreciates the presentation by the Joint Investigation Team (JIT) on Wednesday of the latest report on Malaysia Airlines flight MH17 which was shot down five years ag...

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The Edge Markets:

IHH Healthcare aims to strengthen operations in 4 home markets

KUALA LUMPUR (June 20): IHH Healthcare Bhd has outlined three strategic priorities for the year ahead to strengthen its operations across its four home markets, namely Malaysia, Singapore, Turkey and ...

The Edge Markets:

No need for Azmin to take leave over video probe — Dr Mahathir

PUTRAJAYA (June 20): Prime Minister Tun Dr Mahathir Mohamad said today Datuk Seri Mohamed Azmin Ali does not have to go on leave to facilitate the investigation into the viral controversial video impl...

The Edge Markets:

OCBC sees ringgit at RM4.16 against US dollar at end-2019

KUALA LUMPUR (June 20): OCBC Bank expects the ringgit to end the year at RM4.1641 against the US dollar.

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The Edge Markets:

Aeon Credit hopes to maintain performance in FY20 despite external headwinds

KUALA LUMPUR (June 20): Despite signs of an economic slowdown, Aeon Credit Service (M) Bhd expects to once again post a net profit of above RM300 million for the current financial year as it did in th...

The Edge Markets:

Witness agrees Najib should've left Cabinet meeting on SRC if he received...

KUALA LUMPUR (June 20): Former Cabinet deputy chief secretary Tan Sri Mazidah Abdul Majid told the High Court today that if Datuk Seri Najib Razak had received payment from SRC International Sdn Bhd, ...

Malay Mail:

China, US to resume trade talks but China says demands must be met

BEIJING, June 20 — Top Chinese and US officials will resume trade talks in accordance with the wishes of their leaders, but China hopes the United States will create the necessary conditions for dia...

The Star:

Sustained fund buying of Tenaga helps KLCI stretch gains

KUALA LUMPUR: Tenaga Nasional again helped power the FBM KLCI to a higher close on Thursday on sustained fund buying, sending the power giant's share price to the highest close since Dec 4, 2018.

FBM KLCI | Tenaga Nasional | KUALA LUMPUR | IHH | Turnover | US | Lady | RM2.28bil | Asian | Federal Reserve | Maxis | GentingM | Genting Bhd | China | MSCI | Asia-Pacific | Japan | Tokyo | Nikkei | European | RM5.45 | Heineken | Carlsberg | Nestle | Dutch | F&N | Ambank | Consumer stocks | Reuters | Aabar Investments | Bloomberg | Hong Leong Bank | Public Bank | Maybank | CIMB | RHB Bank | Digi | Axiata | RM63.30 | RM4.39 | RM1.258bil | RM5.59 | RM5.05 | RM4.95 | RM5.75 | RM34.36 | RM19 | RM148.80 | RM25.14 | RM24 | RM3.38 | RM6.91 | Bhd 23 | RM5.76 | RM13.88 | RM2.28bil. | Dec 4 | 2018 | RM2 | 023 | RM23 | RM5.23 | RM23.08 | RM8.94

The Edge Markets:

Politics and Policy: A potential RM3b contribution from refugees

REFUGEES, who have no legal status in Malaysia, would have a net positive impact on the economy if they are given the right to work, a report by the Institute for Democracy and Economic Affairs (IDEAS...

The Edge Markets:

Politics and Policy: What a crowded playing field!

POLITICAL analyst Dr Sivamurugan Pandian told me recently that someone he knew had texted him that day to say that the Registrar of Societies had asked him to come and collect his letter confirming hi...

The Edge Markets:

Cover Story: Subdued 1Q for banks points to tougher times ahead

THE subdued first-quarter earnings of Malaysian banks portend a trend of weakening profitability, analysts say.

The Edge Markets:

Cover Story: The trade war and corporate earnings conundrum

JUST last week, Morgan Stanley said that a recession could begin as soon as nine months’ time if US President Donald Trump pushes to impose a 25% tariff on an additional US$300 billion of Chinese ex...

The Edge Markets:

Zero excise duty revenue from cigarettes would be a good thing — Charon

KUALA LUMPUR (June 20): The government's main focus in pursuing its policy of getting people to stop smoking should not be on the loss in excise duty revenue, but on how to combat organised crime, a p...

The Edge Markets:

Illegal cigarette trade 'reaching uncontrollable levels', says JTI

KUALA LUMPUR (June 20): JT International Bhd (JTI Malaysia), which is part of Japan Tobacco International, is calling for more coordinated action against illegal cigarette trade, noting that the activ...

The Edge Markets:

Rosmah's solar project graft trial to be heard in High Court after all

PUTRAJAYA (June 20): The corruption trial of Datin Seri Rosmah Mansor, wife of former prime minister Datuk Seri Najib Tun Razak, over the Sarawak solar project cases will be heard in the High Court.

Malay Mail:

Genting shares up on CEO’s pay cut announcement

KUALA LUMPUR, June 20 — Shares of Genting Malaysia Bhd and Genting Bhd were higher following news that chief executive officer (CEO) Tan Sri Lim Kok Thay is taking a 20 per cent pay cut.

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The Star:

Aeon Credit to leverage on tech, innovation to improve performance

KUALA LUMPUR: Aeon Credit Service (M) Bhd, which recorded a stronger set of results in the financial year ended Feb 28, 2019 (FYE19), will leverage on technology initiatives and innovative solutions to improve its performance and customer experience.

The Star:

PwC launches solution to support audit of cryptocurrency

LONDON: PwC has launched its new software tool to provide audit and other assurance services to clients holding or transacting in cryptocurrency.

The Edge Markets:

Malaysia vehicles sales up 41% y-o-y in May — MAA

KUALA LUMPUR (June 20): Total vehicles sold in Malaysia increased 41.42% year-on-year (y-o-y) in May, according to the Malaysian Automotive Association.

The Edge Markets:

Serba Dinamik eyes 10% net profit growth this year

SHAH ALAM (June 20): Engineering, procurement, construction and commissioning (EPCC) outfit Serba Dinamik Holdings Bhd said it is eyeing a net profit growth of about 10% for the financial year ending ...

Malay Mail:

China tells top global CEOs it will ‘further open up’

BEIJING, June 20 — Premier Li Keqiang vowed today to further open up China’s economy during a meeting with CEOs of top global companies amid simmering trade tensions with the United States.

The Star:

Serba Dinamik billionaire founder Karim buys stake in Powernet

KUALA LUMPUR: Datuk Mohd Abdul Karim Abdullah, the founder of Serba Dinamik Holdings Bhd and one of the top 40 richest Malaysian, is said to have bought a big stake in Kumpulan Powernet Bhd, his second major purchase in less than a month.

The Star:

Malaysia's asset management industry showing signs of slowing down, says SC chairman

KUALA LUMPUR: Malaysia’s asset management industry which has grown rapidly over the last decades has shown signs of a slowdown amid fundamental shifts which are expected to alter the business landscape, said Securities Commission Malaysia (SC) chairman, Datuk Syed Zaid Albar.

The Edge Markets:

Cover Story: A dull season

WITH the global economy on shaky ground, a situation exacerbated by escalating trade tensions between the US and China, weak commodity prices and a ruling government that is just a year old, it is not...

The Edge Markets:

Off-Market Trades: ConnectCounty Holdings Bhd, AE Multi Holdings Bhd, SCH Group...

THE largest block of shares transacted off market during the week was at ConnectCounty Holdings Bhd, where 23.86 million shares, or 7.2% equity interest, changed hands in direct trades at 8.5 sen apie...

The Edge Markets:

Joint offerors for Yee Lee takeover snap up 155,500 shares

KUALA LUMPUR (June 20): The joint offerors — comprising private equity fund Dymon Asia Private Equity (S.E. Asia) Fund II Ptd Ltd, Yee Lee's founder Datuk Lim A Heng @ Lim Kok Cheong and his family,...

The Edge Markets:

Shares of cement makers decline on news there's no price hike

KUALA LUMPUR (June 20): Shares of cement makers saw declines during mid-morning trade today following yesterday's news that there would be no rise in cement prices.

Shares | Malaysia Bhd | KUALA LUMPUR | Saifuddin Nasution Ismail | Bursa Malaysia | Lafarge | Hume Cement Sdn Bhd | Tasek Corp Bhd | Hume Industries Bhd | RM7.20 | Domestic Trade | RM4.05 | June 20 | June 13 | 2019 | Dec 21 | 2018 | July 12 | 2018 | Jan 22 | 2019 | RM3.62 | RM3.08 billion | RM4.34 | RM1.80 | RM5.51 | RM681.15 million | RM1.11 | RM536.98 million | RM1.58

The Star:

Langit Makmur buys more Yee Lee shares as offer extended until July 3

KUALA LUMPUR: Langit Makmur Sdn Bhd, which is one of the joint offerors in the takeover of Yee Lee Corp Bhd, bought 155,500 shares at RM2.33 each on Wednesday.

The Star:

Seacera gets letter of demand for RM18.3m

KUALA LUMPUR: Secera Group Bhd has received a letter of demand from AmBank Islamic Bhd, demanding payment of RM18.30mil including future profit over the loan facilities taken by its unit.

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The Edge Markets:

Malaysia's June 1-20 palm oil exports down 5.8% — AmSpec Malaysia

(June 20): Malaysia's June 1-20 palm oil exports seen at 913,159 tonnes versus May 1-20 at 969,767 tonnes, according to AmSpec Malaysia.

The Edge Markets:

Aeon Credit MD Kenji Fujita retires today, replaced by Myanmar ops MD

KUALA LUMPUR (June 20): Aeon Credit Service (M) Bhd's managing director (MD) Kenji Fujita is retiring from his position effective today.

The Edge Markets:

KKB Engineering clinches three contracts worth RM29m

KUALA LUMPUR (June 20): KKB Engineering Bhd has scored three contracts worth a total of RM29 million.

The Edge Markets:

Kerjaya Prospek lands RM227.3m development project contract

KUALA LUMPUR (June 20): Kerjaya Prospek Group Bhd has landed a RM227.3 million contract to construct the main building for a development project within the Bukit Bintang area in Kuala Lumpur.

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The Edge Markets:

SMTrack, Paramount, KPower, IWCity

KUALA LUMPUR (June 20): theedgemarkets.com highlighted four stocks at Bursa Malaysia’s afternoon close today.

Malay Mail:

MIDF Research maintains ‘neutral’ call on O&G upstream sub-segment

KUALA LUMPUR, June 20 ― MIDF Amanah Investment Bank Bhd Research (MIDF Research) has maintained its “neutral” call on the upstream sub-segment of the oil and gas industry and reiterated its “p...

The Star:

Tracking growing impact of Trump’s tariffs

WASHINGTON: With President Donald Trump and his Chinese counterpart Xi Jinping expected to meet at the G-20 summit in Osaka, there’s growing evidence that the trade war is eroding not just short-term growth but also longer-term prospects.

The Edge Markets:

Kerjaya Prospek lands RM227.3m development project contract

Flash: Kerjaya Prospek lands RM227.3m development project contract

Flash | Kerjaya Prospek | RM227.3m

The Edge Markets:

KLCI rises on technical relief rebound

KUALA LUMPUR (June 20): The FBM KLCI ticked up at the midday break today on a brief technical rebound, against the backdrop of a regional rally.

The Edge Markets:

Palm retreats tracking US soyoil futures

KUALA LUMPUR (June 20): Malaysian palm oil futures fell in early trade on Thursday, reversing some of the previous session's gains, dragged by losses in rival oilseed futures.

Malay Mail:

MIDF: National Automotive Policy could adversely impact auto sector

KUALA LUMPUR, June 20 — The upcoming National Automotive Policy (NAP) could bring about some uncertainties to the local automotive sector, as it could involve measures to support a potential third...

The Star:

Total vehicle sales jumps 40% in May

PETALING JAYA: Total vehicle sales jumped more than 40% to 60,780 units last month compared with 42,977 units a year earlier, as demand for cars was spurred by promotional campaigns in conjunction with the Hari Raya festive season.

Malaysian Automotive Association | PETALING JAYA | Hari Raya | April 2019

The Star:

KLCI, ringgit trend higher on rate cut hopes

KUALA LUMPUR: The FBM KLCI made gained 2.27 points to 1,668.81 in Thursday morning trading as investors expect global central banks to join in a wave of monetary easing while the resumption of US-China trade talks also offered a lift.

The Star:

Kumpulan Powernet sees 26.5% stake crossed at RM1 each, fuels takeover

KUALA LUMPUR: Kumpulan Powernet Bhd, whose shares had surged recently, saw 20.21 million of its shares crossed at RM1 each in an offmarket deal at midday on Thursday, fueling speculation of a takeover.

The Edge Markets:

Edunation: Manufacturing the right Malaysian human capital

What is the purpose of putting our children through this assembly line of an education system when more than half of them are at risk of failing to integrate into the labour market and society in gene...

The Edge Markets:

Russia's dumb denials on the downing of MH17

(June 20): Three Russians and one Ukrainian have been charged in the Netherlands for their alleged roles in downing Malaysia Airlines Flight 17 over eastern Ukraine five years ago.

The Edge Markets:

Paramount to sell controlling stake in K-12 education biz for RM540.5m

KUALA LUMPUR (June 20): Paramount Corp Bhd is to divest its controlling stake in its K-12 education business for an indicative RM540.5 million in cash, and intends to distribute RM177 million from pro...

The Edge Markets:

Not a disruption but an opportunity

In September last year, global research firm Gartner said in a note that oil and gas companies potentially face a decade or more of “unpredictable, disruptive” market conditions.

Malay Mail:

Malaysian SMEs project potential sales of RM20m at Paris Air Show

KUALA LUMPUR, June 20 — Four Malaysian small and medium enterprises (SMEs) expect to achieve potential sales of RM20 million from business matching sessions which concluded today at the ongoing ...

The Star:

Aabar raises RM1.25b in upsized RHB Bank share placement

KUALA LUMPUR: Aabar Investments sold 231m RHB Bank shares at RM5.45 each for a total of RM1.258bil, Bloomberg reported on Thursday.

The Edge Markets:

Palm oil may retest resistance at RM2,068

SINGAPORE (June 20): Palm oil may retest a resistance at RM2,068 per tonne as it found a support at RM2,004. The resistance is provided by the 38.2% retracement on the downtrend from RM2,235 to RM1,96...

Palm oil | RM2 | Wang Tao | SINGAPORE | C | Reuters | RM2 | 118 | RM1 | 971 | RM2 | 235 | RM2 | 046 | RM1 | 964 | RM2 | 028 | RM2 | 100 | RM2 | 004 | RM2 | 068 | June 20

The Edge Markets:

Tenaga active, up 1.05% on positive technicals

KUALA LUMPUR (June 20): Shares in Tenaga Nasional Bhd rose 1.05% in active trade this morning following a positive technical outlook on the stock.

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Shares | Tenaga Nasional Bhd | KUALA LUMPUR | Tenaga | RHB Retail Research | RM13 level | RM14. | RM14.40 | RM13.80 | RM12.12 | RM13 | RM13.42 | June 20

The Edge Markets:

HLIB Research upgrades Dayang Enterprise to buy, raises target to RM1.21

KUALA LUMPUR (June 20): Hong Leong Investment Bank (HLIB) Research has upgraded Dayang Enterprise Holdings Bhd with a higher target price (TP) of RM1.21 (from 88 sen) on the back of stronger financial...

TP | HLIB) Research | Dayang Enterprise Holdings Bhd | Hong Leong Investment Bank | KUALA LUMPUR | PBV | HLIB Research | Dayang | PER | Perdana Petroleum Bhd | 10% | IHUC | Petronas Carigali Sdn Bhd | RM1.01 billion | RM1.13 | RM1.26 | RM1.21 | 2019 | June 20

The Edge Markets:

KLCI reverses loss as Genting, utilities lift

KUALA LUMPUR (June 20): The FBM KLCI reversed its earlier loss at mid-morning today and hovered higher, lifted by gains including at Genting Bhd and index-linked utility stocks.

The Edge Markets:

Global airlines' earnings weaken y-o-y in 1Q19, says IATA

KUALA LUMPUR (June 20): Global airlines' net profit after tax weakened year-on-year in the first quarter of 2019 (1Q19), according to the International Air Transport Association (IATA). In its May rep...

Malay Mail:

Report: Apple considering relocating China plant to Malaysia

PETALING JAYA, June 20 — Malaysia has been named as among several countries being considered by iPhone maker Apple, which is looking to reduce its production capacity in China by between 15 and 30 p...

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Malay Mail:

Ringgit opens higher as US Fed keeps interest rates steady

KUALA LUMPUR, June 20 — The ringgit rose 0.35 per cent against the US dollar, in line with regional peers after the US Federal Reserve (US Fed), as expected, kept its interest rate steady yesterday...

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The Star:

Quick take: Mestron succumbs to profit-taking

KUALA LUMPUR: Newly listed Mestron Holdings Bhd succumbed to profit taking in early trade Thursday as investors decided to pocket gains after its initial public offering (IPO).

The Star:

US$ on defensive after Fed signals readiness to cut rates

TOKYO: The dollar was on the defensive on Thursday after the Federal Reserve signalled it was ready to lower interest rates to combat growing global and domestic risks.

The Star:

FIMM appoints Mohd Ridzal Mohd Sheriff as chairman

KUALA LUMPUR: The Federation of Investment Managers Malaysia (FIMM) has appointed Mohd Ridzal Mohd Sheriff as its new chairman, effective June 12.

The Star:

China to stand firm as trade talks with US restart: state media

SHANGHAI: Upcoming trade talks between the leaders of China and the United States are unlikely to immediately resolve major disagreements between the two sides but could start a new phase in negotiations, Chinese state media said on Thursday.

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The Star:

Facebook called before Senate panel over digital currency project

WASHINGTON: Facebook Inc's plans to create a global cryptocurrency will face scrutiny from the U.S. Senate Banking Committee on July 16, the latest sign that policymakers around the globe are casting a wary eye on the project.

The Star:

Quick take: Paramount rises 5.7% on disposal of education business

KUALA LUMPUR: Paramount Corp Bhd rose 5.7% in early trade Thursday after the group announced its plan to dispose of its education business for RM540.50mil cash.

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The Edge Markets:

Genting up 1.65% on positive technicals

KUALA LUMPUR (June 20): Shares in Genting Bhd rose 1.65% this morning following a positive technical outlook on the stock.

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Genting Bhd | Shares | KUALA LUMPUR | RHB Retail Research | RM6. | RM7. | RM7.07 | RM6.95 | RM6.45 | RM6.60 | RM6.80 | RM6.79 | June 20

The Edge Markets:

KLCI drifts lower on minor profit taking activities

KUALA LUMPUR (June 20): The FBM KLCI drifted lower in early trade this morning on some marginal profit taking on select index-linked blue chips.

The Star:

KLCI extends gains on MISC, Genting and Tenaga

KUALA LUMPUR: Blue chips shook off the early hesitant start on Thursday to chalk up some gains, underpinned by MISC, Genting and Tenaga, in line with the firmer key Asian markets.

The Star:

Asian, global stocks rally; bond yields plunge after Fed hints at rate cuts

TOKYO: A gauge of global stock markets edged near this year's peak while benchmark U.S. Treasury yields and the dollar dropped after the Federal Reserve signalled possible interest rate cuts later this year.

The Star:

Trading ideas: DNeX, TH Heavy, MSM

KUALA LUMPUR: JF Apex Research expects Dagang NeXchange Bhd (DNeX), TH Heavy Engineering Bhd and MSM Malaysia Holdings Bhd are among the stocks to watch on Thursday.

The Star:

Oil prices rise as US stockpiles drop, Opec agrees meeting date(Update)

TOKYO: Oil prices rose over 1 percent on Thursday as official data showed U.S. crude stocks fell more than expected and as OPEC and other producers finally agreed a date for a meeting to discuss output cuts

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The Edge Markets:

No hike in cement price

PUTRAJAYA: Cement manufacturers, who sent the notice on price increase to construction companies last Sunday, decided to reverse the decision on the 40% price hike.

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Malay Mail:

Report: Trump believes he has authority to demote US Fed chief

WASHINGTON, June 20 — US President Donald Trump believes that he has the authority to replace Federal Reserve Chair Jerome Powell and demote him to be a board governor, but is not planning to do so ...

The Star:

Affin Hwang remains positive on consumer sector

KUALA LUMPUR: Affin Hwang Capital research said it remains positive on Malaysia's consumer sector as macro and business conditions remain sound while favouring companies thriving within the F&B space.

F&B | Malaysia | Affin Hwang Capital | KUALA LUMPUR | Carlsberg | CAGR | PER | Heineken | QL | PPB | Nestle | QL Resources | RGM | 1Q19 | Affin Hwang | E-commerce | Market research data | Euromonitor | MCMC | 2023 | 2018 | 2013

The Star:

MAHB shares rally on Mavcom proposal

PETALING JAYA: Malaysia Airports Holdings Bhd (MAHB) saw its shares gaining more than 7% or 58 sen to its highest point in six months at RM8.51 after a report said the Malaysian Aviation Commission (Mavcom) has proposed the introduction of a transfer passenger service charge (PSC).

Malaysia Airports Holdings Bhd | PETALING JAYA | RHB Research | Mavcom | WACC | Malaysian Aviation Commission | PSC | RAB | Aeronautical Charges Framework | 2019 | RM8.15 | RM9.20 | RM8.51

The Star:

Digital bank framework 50% ready, draws interest

KUALA LUMPUR: The digital banking framework, set to be launched by year-end, is 50% ready and about 10 parties have expressed interest in setting up digital banks in the country.

The Star:

Asean needs to re-think approach to US$2.8tril infrastructure gap

A HUGE infrastructure gap exists in Asean and it has become increasingly clear in recent years that the region may not be able to fund its infrastructure needs.

The Star:

Mudajaya sees turnaround as early as in third quarter

PETALING JAYA: Loss-making Mudajaya Group Bhd expects to start seeing a turnaround in its fortunes by as early as the third quarter of its current financial year ending Dec 31 as it seeks to fix its Indian venture.

The Edge Markets:

CIMB Research downgrades Berjaya Sports Toto, target price RM2.62

KUALA LUMPUR (June 20): CIMB IB Research has downgraded Barjaya Sports Toto Bhd (BST) to “Hold” at RM2.60 with an unchanged target price of RM2.62 and said BST’s 12M19 net profit was above its e...

The Edge Markets:

Mahathir Uses Huawei to Needle the U.S.

(June 20): China is definitely the new Japan. For Mahathir Mohamad, at least.

Malay Mail:

Canada first G20 country to ban trade in shark fins

TORONTO, June 20 — Canada passed a new law banning the import and export of shark fins, which also includes a requirement to rebuild depleted fish populations.

Malay Mail:

US-Japan trade deal progress likely in ‘months’, says US official

WASHINGTON, June 20 — Tokyo understands Washington’s desire to negotiate greater access to the Japanese market and efforts to reach a new trade agreement should bear fruit soon, a top US trade off...

Malay Mail:

Mexico becomes first country to ratify USMCA trade deal via Senate vote

MEXICO CITY, June 20 — Mexico yesterday became the first country to ratify the United States-Mexico-Canada Agreement (USMCA) agreed late last year to replace the North American Free Trade Agreement ...

Malay Mail:

US stocks approach record as Fed soothes Wall Street's fears

TORONTO, June 20 — The S&P 500 approached a record high yesterday after the Federal Reserve signaled potential interest cuts later this year, reassuring investors worried that the US-China trade war...

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Malay Mail:

US Fed sees case building for interest rate cuts this year

WASHINGTON, June 20 — The US Federal Reserve yesterday said it was ready to battle growing global and domestic economic risks with interest rate cuts beginning as early as next month, as it took sto...

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The Star:

Federal Reserve retains interest rate while big questions loom

ON WEDNESDAY, as most investors expected, the Federal Reserve left interest rates unchanged for now, but said the case for cuts later in the year is stronger than before. That judgment looks reasonable, all things considered.

The Star:

Malaysian palm oil price up on expectation of better export data

KUALA LUMPUR: Malaysian palm oil futures jumped more than 1% on Wednesday as traders bet upcoming export data would overshoot forecasts.

The Star:

Apex clears hurdle for merger with Mercury

KAJANG: The battle in Apex Equity Holdings Bhd has taken a major turn with shareholders voting in favour of the merger with Mercury Securities Sdn Bhd in a slim majority of 54.8%.

The Star:

KKR nears partial exit from RM8.35bil helicopter firm

KUALA LUMPUR: KKR & Co is nearing a deal to exit part of its stake in Weststar Aviation Services Sdn Bhd, South-East Asia’s biggest provider of helicopters for the offshore energy industry, people with knowledge of the matter said.

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The Edge Markets:

Johor to build sheltered pedestrian walkway on Causeway

SINGAPORE (June 19): Workers and students who cross the Causeway daily on foot may soon be able to do it for comfortably under a 1.2km sheltered walkway, according to a statement from a Johor official...

The Edge Markets:

Three-month exemption of fines for parcel rent payments

SHAH ALAM (June 19): The Selangor Government will not administer fines on late parcel rent payments by strata title holders from June 1 to Aug 31.

The Edge Markets:

Melaka to buy water from Negeri Sembilan to address water supply issue

MELAKA (June 19): The Melaka Government will receive 12 million litres of treated water daily from Negeri Sembilan until Dec 21, 2020, through a Memorandum of Understanding (MoU) signed today.

The Edge Markets:

Police bust biggest cigarette smuggling syndicate in the country

ROMPIN (June 19): Police have busted a cigarette smuggling syndicate and seized 279,000 cartons worth RM4.868 million in a raid at Leban Chondong here today.

The Edge Markets:

Protect websites from threats, e-commerce operators urged

KUALA LUMPUR (June 19): The private sector has been urged to cooperate with the Government to help with business security, infrastructure and public awareness.

The Edge Markets:

Russia says findings of MH17 crash investigation are groundless

MOSCOW (June 19): Russia's Foreign Ministry said on Wednesday that it regretted the findings of the Malaysia Airlines flight MH17 crash investigation and called murder charges against Russian suspects...

The Edge Markets:

Finterra sees Malaysian Islamic banks actively embracing digitalisation

KUALA LUMPUR (June 19): Malaysian Islamic financial institutions are seen to be actively looking to embrace digitalisation to support growth.

The Edge Markets:

Britain says Russia must cooperate fully with MH17 prosecution

LONDON (June 19): Britain said Russia must cooperate fully with the murder prosecution of three Russians and a Ukrainian for downing Malaysia Airlines flight MH17 over eastern Ukraine in July 2014, ki...

The Edge Markets:

mySalam scheme receives positive response from B40 group

KUALA LUMPUR (June 19): The National Health Protection Scheme (mySalam), a Pakatan Harapan (PH) Government initiative to help the low-income B40 group deal with financial difficulties when admitted to...

PH | B40 group deal | The National Health Protection Scheme | Johan Mahmood Merican | Mahathir Mohamad | Pakatan Harapan | KUALA LUMPUR | Finance Ministry | Johan Mahmood | B40 | Government | Dana Amanah mySalam | Government hospital | MySalam | Bernama | National Budget Office | Federal Government | Great Eastern Takaful Berhad | BSH | Cost of Living Aid | RM8 | 000 | RM700 | RM50 | RM2 billion | RM101 | 600 | RM248 | 000 | RM349 | 600 | Jan 24 | June 19

The Edge Markets:

Trump plan seeks to double U.S.-Africa two-way trade

JOHANNESBURG/MAPUTO (June 19): The U.S.’s Prosper Africa strategy plans to double two-way trade and investment between the world’s biggest economy and the continent in the coming years.

The Edge Markets:

PKR gives Haziq 14 days to give 'show cause' letter

PETALING JAYA (June 19): The Parti Keadilan Rakyat (PKR) Disciplinary Board has given 14 days for Santubong Angkatan Muda Keadilan (AMK) chief Haziq Abdullah Abdul Aziz to give a show-cause letter reg...

The Edge Markets:

Genting Malaysia, Apex, DNeX, TH Heavy, MSM Malaysia, Lafarge Malaysia and YTL...

KUALA LUMPUR (June 19): Based on corporate announcements and news flow today, companies that may be in focus on Thursday (June 20) may include the following: Genting Malaysia Bhd, Apex Equity Holdings...

Malay Mail:

US trade chief says meeting with Chinese negotiator to precede G20 summit

WASHINGTON, June 19 — The top US trade negotiator said today it is in the interests of China and the United States to have a successful trade pact and he expects to meet with a senior Chinese offici...

Malay Mail:

Deutsche Bank seeks to shed risky assets as part of overhaul, say sources

FRANKFURT, June 19 — Deutsche Bank is aiming to cut up to a quarter of its riskiest assets in the next few years, people familiar with the matter said, shedding more light on how the German lender i...

Malay Mail:

Who pays Trump’s tariffs, China or US customers and companies?

NEW YORK, June 19 — US President Donald Trump says China pays the tariffs he has imposed on US$250 billion (RM1.04 trillion) of Chinese exports to the United States.

The Edge Markets:

MARC downgrades TSH’s RM300m Sukuk IMTN because of high leverage

The Edge Markets:

Alibaba links with entrepreneurs to continue to promote trade

CYBERJAYA (June 19): Alibaba Group is committed to linking its platform with entrepreneurs to continue to promote trade, says vice president Brian Wong.

The Edge Markets:

Francis Yeoh is now Lafarge Malaysia’s chairman

KUALA LUMPUR (June 19): YTL Corp Bhd executive chairman Tan Sri Dr Francis Yeoh is now the executive chairman of Lafarge Malaysia Bhd.

Malay Mail:

New chairman Persson pledges to ‘clean’ scandal-hit Swedbank

STOCKHOLM, June 19 — Swedbank shareholders elected Goran Persson as chairman today, with the former Swedish Prime Minister pledging to “clean the house” after a money-laundering scandal.

The Edge Markets:

UDA Holdings to launch mixed development project in 1Q 2020

JOHOR BAHRU (June 19): UDA Holdings Bhd (UDA) is set to launch its 40-hectare mixed development project in Desaru, Kota Tinggi by its unit, UDA Land South Sdn Bhd, in the first quarter of next year.

The Edge Markets:

Palm up on expectation of better export data

KUALA LUMPUR (June 19): Malaysian palm oil futures jumped more than 1% on Wednesday, as traders bet upcoming export data would overshoot forecasts.

Malaysian | KUALA LUMPUR | Southern Peninsular Palm Oil Millers Association | Cargo surveyors | Palm oil prices | Bursa Malaysia Derivatives Exchange | Palm | Dalian | CHINA PALM | Dalian Commodity Exchange | Chicago | PALM OIL | CBOT SOY OIL JUL9 | INDIA | MY PALM OIL | Volume | NYMEX | U.S. | RBD | GMT Contract Month Last Change Low High | SEP9 2047 | 2 | 047 ringgit | JUL9 | JUN9 | SEP9 | 2049 | 2007 | US$491 | 2001 | AUG9 2041 | 1998 | JUL9 2026 | 20 | June 1 | 15 | June 19

The Edge Markets:

Evidence shows Russia supplied missile used to shoot down MH17 — investigator

NIEUWEGEIN, Netherlands (June 19): Investigators have collected enough evidence to show that Russia provided the missile launcher used to shoot down Malaysia Airlines flight MH17 over eastern Ukraine ...

The Edge Markets:

Plaza Premium Lounge named best independent airport lounge by Skytrax

KUALA LUMPUR (June 19): Plaza Premium Lounge at London Heathrow Airport’s Terminal 2 has been named the best independent airport lounge in the world at the 2019 Skytrax World Airline Awards ceremony...

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