It is often during festive periods that one sees the best of Malaysians. This Hari Raya season, like the ones before, promises a slew of open houses by politicians, corporates and regular folk.

Frankly Speaking: A timely reminder to stay united

It is not often that Malaysia is mentioned on the global stage as a “surprise winner” in the US-China fight for technology supremacy in the semiconductor sphere.

Frankly Speaking: A dire need to maintain E&E edge

Sunzen Biotech Bhd announced last week that it was exiting the animal health products business, leaving it to focus on loan financing and the human health and wellness segments.

Frankly Speaking: Ensuring viability of ventures

Vsolar Group Bhd’s balance sheet as at Dec 31, 2023 did not indicate any urgency to raise fresh funds given that it had net cash of RM25 million and zero debt.

Frankly Speaking: Why undertake rights issue when swimming in cash?

Bank Negara Malaysia’s statement last Tuesday demanding a thorough explanation from Malayan Banking Bhd and CIMB Group Holdings Bhd (not named in the statement but the giveaway was “two of our largest banking institutions”) for recent outages of their services is a surprising but much needed move to ensure accountability to thousands of customers for disruptions that inconvenienced them.

Frankly Speaking: Bank Negara move ensures accountability

Shares in Berjaya Food Bhd (BFood) surged last week on a Bloomberg news report that its controlling shareholder Tan Sri Vincent Tan could be taking it private.

Frankly Speaking: It will come down to valuation

Four months after Axiata Group Bhd exited its investment in Nepal on “unfair taxation and regulatory uncertainties”, its 63%-owned tower company Edotco Group Sdn Bhd on April 4 agreed to sell its entire 87.5% stake in Edotco Myanmar Ltd for US$150 million (RM713.03 million) — effectively valuing ...

Frankly Speaking: Another bitter pill for Axiata

Kudos to Lembaga Tabung Angkatan Tentera (LTAT) for managing a 5% dividend for the second consecutive year. But that is the easy part of managing the fund, which has assets of RM10.77 billion.

The more difficult part that the new management team has yet to unveil is a strategy to ensure...

Frankly Speaking: LTAT — the tough act has yet to come

Last Thursday, Home Minister Datuk Seri Saifuddin Nasution Ismail announced that the deadline for the application of the visa with reference (VDR) has been extended to April 21 from March 31.

Frankly Speaking: Set realistic deadlines, please

The Energy Commission (EC) has the benefit of hindsight by now after the many rounds of bidding undertaken for the country’s Large Scale Solar (LSS) programme.

Frankly Speaking: The lowest bid isn’t necessarily the best

Low-profile Johor-based property developer Crescendo Corp Bhd is turning out to be another winner in the data centre play in the southern state.

Frankly Speaking: Crescendo rides data centre play

It came to light last week that the Securities Commission Malaysia (SC) ran into a deficit for the second straight year in 2023. The capital markets regulator’s net operating deficit widened to RM54.64 million, from RM11.65 million the year before, its annual report showed.

Frankly Speaking: SC needs to have a better handle on cost

Social media itself is neutral, but its owners and users could use — or some say abuse — it for an intended end.

Frankly Speaking: Use social media for good

The outcome of the shareholders meeting of South Malaysia Industries Bhd (SMI) seems to suggest that the existing board and management do not seem to have complete control over the company.

Frankly Speaking: A telling message from SMI’s AGM

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated Bhd, has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

YX Precious Metals proposes to transfer listing from ACE Market to Main Market

(April 19): Oyo Hotels is in talks to raise up to US$450 million via dollar bonds, a person familiar with the matter said, as the once-high-flying Indian startup seeks to replace an existing high-cost loan amid delays in its stock-market debut.

Softbank-backed Oyo eyes US$450 mil bond sale for refinancing

CIMB Thai Bank PCL’s net profit for the first quarter ended March 31, 2024 (1QFY2024) dropped 24.6% year-on-year to 626.1 million baht from 830.1 million baht, as it reported lower operating income and higher expenses.  

The group recorded an 8.4% drop in operating income and an 11.8% increase in operating expenses. The effects of these were partially offset by a 36.9% decline in expected credit loss, according to CIMB Thai president and chief executive officer Paul Wong Chee Kin in a statement. CIMB Group Holdings Bhd has a 94.83% interest in CIMB Thai.

CIMB Thai's 1Q earnings drop 24.6% as operating income falls while opex climbs

KUALA LUMPUR (April 19): Ten individuals suspected of being involved in the case related to an Israeli man who was charged with possessing bullets and trafficking guns, were rearrested under the Security Offences (Special Measures) Act 2012 (Sosma).

Israeli man’s case: 10 individuals rearrested under Sosma

Fitters Diversified Bhd has landed a subcontract worth RM26.1 million from a unit of IJM Corp Bhd for fire protection services at the compound of a four-storey logistics hub, including its parking and ancillary buildings, in Shah Alam, Selangor.

Fitters Diversified bags RM26.1 mil fire protection services job

HPP Holdings Berhad slipped into the red in the third quarter ended February 29, 2024 (3QFY2024) for the first time since its listing on the ACE market in January 2021, mainly due to commission payments of RM520,000 and a one-time compensation payment of RM400,000 million to foreign workers, in line with the group's adherence to its zero recruitment fee policy.

It posted a net loss of RM62,200 in 3QFY2024 compared to a net profit of RM1.53 million in the previous corresponding quarter, resulting in a loss per share of 0.16 sen for 3QFY2024 compared to earnings per share of 0.39 sen for 4QFY2023.

HPP Holdings posts first-ever quarterly loss of RM62,200 since listing

KUALA LUMPUR (April 19): M&A Equity Holdings Bhd announced that an individual by the name of Siti Nur Aishah Ishak has become a substantial shareholder of the stockbroking firm, after acquiring a 0.13% stake in the company.

Siti Nur Aishah emerges as substantial shareholder of M&A Equity

The mandatory general offer (MGO) for the remaining 34.1% stake in Pan Malaysia Holdings Bhd (PM Holdings), launched by property developer Exsim Group's founders, the Lim brothers, concluded on Friday with acceptances for only 35,997 shares received.

No change in Lim brothers' stake as Pan Malaysia Holdings' MGO concludes

Sapura Energy Bhd said trading in its shares has been suspended at the company's request pending a material announcement.

The suspension took effect from 2.30pm on Friday, Sapura Energy said in an exchange filing, fueling speculation in the market on what the announcement could be.

Trading in Sapura Energy suspended pending announcement

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives ended lower on Friday due to persistent weakness in the soybean oil market on the Chicago Board of Trade, said a dealer.

Palm oil trader David Ng noted that market sentiment has been influenced by concerns regarding the anticipated surge in output over the coming weeks, which is perceived as exerting pressure on the market

CPO futures end lower due to weaker soybean futures

Sapura Energy Bhd said trading in its shares has been suspended at the company's request pending a material announcement.

The suspension took effect from 2.30pm on Friday, Sapura Energy said in an exchange filing, fueling speculation in the market on what the announcement could be.

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

MKH Oil Palm (East Kalimantan) Bhd’s initial public offering (IPO) has been oversubscribed by 8.43 times, ahead of its listing on the Bursa Malaysia Main Market on April 30.&nbsp;

Main Market-bound MKH Oil Palm’s IPO oversubscribed by 8.43 times

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.

Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.

In a brief statement issued on Friday, MIDF affirmed that it takes the cyber security incident seriously and reiterated its commitment to safeguarding the privacy and security of customers' information.

MIDF confirms cyber security incident

The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

KLCI up 0.43% with focus on energy, plantation, financial stocks

Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.

Malaysia’s March exports down 0.8%, imports surge 12.5%

Sime Darby Property Bhd, Malaysia’s biggest developer in terms of landbank, has secured commitment for the remaining 30% of its industrial development fund to close at RM1 billion.

Sime Darby Property gets commitment for balance 30% of RM1b industrial development fund

Kenanga Investment Bank has initiated coverage on soon-to-be listed oil and gas services firm Keyfield International Bhd at RM1.90 — reflecting a 111% premium over its IPO price of 90 sen per share — while giving it an “outperform” rating.

Kenanga sees Main-Market bound Keyfield International cashing in on OSV boom, sets target price at RM1.90

Automotive electronic parts manufacturer MCE Holdings Bhd has commenced the construction for its MCE Auto Hub, the company’s new manufacturing facility in Serendah, Selangor, with an initial investment of RM50 million for the first phase of the development.&nbsp;

MCE Holdings commences construction for RM50 mil manufacturing facility in Serendah 

PUTRAJAYA (April 19): Payment of fees&nbsp;for training or classes in esports, equestrian, swimming, motorsports and taekwondo is&nbsp;eligible for&nbsp;tax relief of up to RM1,000 from next year, said Youth and Sports Minister Hannah Yeoh.

Payment of fees for sports training eligible for tax relief from next year — Hannah

KUALA LUMPUR (April 19): Oil-and-gas services firm Yinson Holdings Bhd said on Friday that its indirect wholly owned subsidiary Yinson Production Offshore Pte Ltd (Yinson Production) has successfully placed a US$500 million five-year senior secured bond issue.

Yinson’s unit places US$500 mil five-year senior secured bonds

KUALA LUMPUR (April 19): Meta Bright Group Bhd is forming a joint venture company (JVco) with a Bumiputera firm to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright forms JVco with Bumiputera firm for RE projects

Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.

Melaka State Secretary Zaidi dies of heart attack

Batik Air will suspend its operations to Istanbul, Turkiye, effective May 1, 2024, and affected passengers will be notified via email and text, said the airline operator, Malindo Airways Sdn Bhd.

Batik Air to suspend operations to Istanbul from May 1

DUBAI/JERUSALEM (April 19): Explosions echoed over an Iranian city on Friday in what sources described as an&nbsp;Israeli attack, but Tehran played down the incident and indicated that it had no plans for retaliation — a response that appeared gauged towards averting region-wide war.

Tehran signals no retaliation against Israel after drones attack Iran

KUALA LUMPUR (April 19): theedgemarkets.com highlighted five stocks with momentum at Bursa Malaysia's afternoon close today. Four stocks displayed negative momentum while one stock displayed positive momentum

<h3>Stocks with negative momentum were:</h3>

<ul>
	<li>Kimlun Corp Bhd - unch...

Kimlun, Mclean, Poh Kong, Tomei, BM Greentech

EG Industries Bhd has secured a second letter of intent (LOI) from US-based Cambridge Industries Group (CIG) to produce a new 1.6 terabit optical signal transmitter and receiver for a 5G wireless network at EG Industries’ new smart factory 4.0 in Penang.

EG Industries expands partnership with US-based Cambridge Industries Group

Bursa Malaysia ended the week mixed on Friday with buying in selected heavyweights and commodity-related stocks amid the negative sentiment on regional markets, said an analyst.&nbsp;

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