A mistake was made in an article on page 20 of the Newsmakers pullout in the latest issue of The Edge Malaysia weekly (Issue 1504, Dec 25, 2023), where it was wrongly stated that Berjaya Corp Bhd had in November 2023 emerged as the controlling shareholder of Salcon Berhad with a 14.54% stake. Berjaya is the single largest shareholder, and not the controlling shareholder of Salcon, which has three other long-time substantial shareholders and partners — Tan Sri Tee Tiam Lee (12.55%), Datuk Leong Kok Wah (10.58%) and Datin Goh Phaik Lynn (10.58%).

We apologise for the error.

Correction to article on Salcon

AwanBiru Technology Bhd (AwanTec), formerly known as Prestariang Bhd, saw its net loss in the first financial quarter ended Sept 30, 2021 (1QFY22) widen to RM1.68 million from RM968,000 a year ago on lower revenue.

Quarterly revenue declined by almost 67% to RM11.76 million from RM35.5 million due to lower revenue generated from its software & services and talent segments, according to the bourse filing to Bursa Malaysia.

AwanBiru 1Q net loss widens on lower revenue

This article has been updated to reflect that retailers could lose up to 30%-40% of their annual revenue from the tobacco excise tax in duty-free areas.

Retailers could lose up to 30%-40% of their annual revenue from the tobacco excise tax in duty-free areas.

In a statement today, the Langkawi Chinese Chamber of Commerce urged the government to reconsider imposing excise tax on cigarettes in all duty-free areas.

Retailers could lose up to 30%-40% of annual revenue from tobacco excise tax in duty-free areas, says chamber

Citigroup strategists downgrade AirAsia Group Bhd to neutral from buy and raise their price estimate to RM3.01 from RM2.92 as they expect dividend yields to generate 5.6% total return.

Citi downgrades AirAsia to neutral; raises price target by 3%

KUALA LUMPUR (May 23): In an earlier article based on a report by Frost & Sullivan entitled “New Government in Malaysia — Implications for the Energy Sector” issued on May 22, any link between its analysis of a review of government policies on the energy sector to the decline in the prices of...

Correction on article quoting Frost & Sullivan’s Malaysia energy sector report

SINGAPORE (Jan 15): Singapore eDevelopment, previously known as CCM Group, says it is expecting to report a loss for FY2015 ended December.

The group attributed this to development costs and operating expenses incurred for Hotapp. Its major property development projects, Ballenger Run a...

Singapore eDevelopment expects losses for FY2015

We refer to the article published on Nov 3, 2015 "Hibiscus unaware of reason behind UMA",  which stated that Affin Hwang had forced sold Hibiscus shares owned by its clients because of margin calls. We have now established that while there were some forced selling of Hibiscus shares due to m...

Hibiscus unaware of reason behind UMA

SINGAPORE (June 3): M1, Singapore’s smallest telco, has the best 4G connectivity of the three operators, according to an inaugural survey of some 4,000 users conducted by Infocomm Development Authority (IDA).

M1 users took an average of 35.4 milliseconds to set up a local connection on ...

M1 pips bigger rivals in connectivity, data download speed, IDA data shows

Our report "Sarine Technologies price target cut 5.7% to $2.98 by Maybank Kim Eng" on March 6 was based on a research note dated Nov 10, 2014, and does not reflect the broking house's latest views. Maybank Kim Eng's current price target is $3.13. It has a "buy" recommendation. The error ...

Sarine Technologies kept at "buy" with $3.13 target by Maybank Kim Eng

SINGAPORE (Feb 4): Different retirement sums for different needs, an option to withdraw up to 20% of savings in a lump sum, and a choice to defer withdrawal in exchange for higher monthly payouts.

These are some of the recommendations released today by a government-appointed panel set u...

Advisory panel unveils recommendations to improve CPF system

(ITS corrects volumes for Nov. 1-20 to 837,659 tonnes from 837,329 tonnes)

    
KUALA LUMPUR (Nov 20): Exports of Malaysian palm oil products for Nov. 1-20 fell 6.4 percent to 837,659 tonnes from 894,697 tonnes for Oct. 1-20, cargo surveyor Intertek Testing Service...

Malaysia's Nov 1-20 palm oil exports down 6.4 pct m/m -ITS

The Jana Wibawa programme, which was established to assist Bumiputera contractors impacted by the Covid-19 pandemic, only took off following Cabinet approval in 2020, the court heard on Monday.

Jana Wibawa programme could only take off with Cabinet approval, says witness

In The Edge Malaysia this week — a deep dive into the EPF’s newly structured Account 3, also known as Flexible Account.

EDGE WEEKLY: Who pays for anytime EPF withdrawals?

National car maker Perusahaan Otomobil Nasional Sdn Bhd (Proton) inaugurated its research and development (R&D) centre in China last Saturday to strengthen its collaboration with partner Zhejiang Geely Holding Ltd (Geely) and complement its facilities in Malaysia.

Proton opens R&D facility in China’s Hangzhou Bay 

The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to try to underpin a relentless tumble in the currency to levels last seen over three decades ago.

Japan's yen jumps against the dollar on suspected intervention

Nestlé (Malaysia) Bhd's net profit for the first quarter ended March 31, 2024 (1QFY2024) dipped 0.8% to RM195.51 million from RM197.15 million a year earlier, due mainly to the impact of slightly lower sales, offset by proactive cost management initiatives as well as better commodity costs.

Nestlé's 1Q net profit dips 0.8% to RM195.5m on lower domestic sales

The yen jumped sharply against its peers on Monday after it slid past 160 per dollar earlier in the session, leading to speculation that Tokyo could have intervened in the currency market while the country was out for a holiday.

Yen surges on suspected intervention, Asian shares rise

Financial details of Shell's vast oil and gas trading business are some of the company's closest-held secrets. Documents in a lawsuit filed by a former employee, however, revealed its US crude trading regularly earns around US$1 billion (RM4.77 billion) every year.

Shell earns US$1b a year from US crude trading, court filing shows 

WITH mounting tensions in the Middle East boosting gold prices and sustaining global demand for exposure to the precious metal, despite a stronger US dollar last week, gold-linked counters on Bursa Malaysia may still trade to new heights, experts say, notwithstanding the rally in their share pric...

Hike in share price of gold counters not done yet, say experts

What appears to be a common partnership between landowner and developer to develop a parcel of land has turned out to be a transaction where there is more than meets the eye.

Frankly Speaking: YNH raises eyebrows again

BRUSSELS (April 29): Microsoft-backed startup OpenAI on Monday found itself the target of a privacy complaint by advocacy group NOYB for allegedly not fixing incorrect information provided by its generative AI chatbot ChatGPT that may breach EU privacy rules.

OpenAI's ChatGPT targeted in Austrian privacy complaint

QSR Brands (M) Holdings Bhd is suspending over 100 KFC outlets temporarily nationwide after about half a year of boycott movement, Nanyang Siang Pau reported, citing information from Google Maps.

Boycott causes over 100 KFC outlets to suspend ops, report says

Berjaya Corp Bhd (BCorp), which last week denied that its founder Tan Sri Vincent Tan Chee Yioun had participated in talks to revive a US$100 billion (RM477.60 billion) Forest City casino resort as reported recently, has lodged reports for the police to commence investigation into the above matter, specifically to, amongst others, ascertain and find out the purported “unnamed source” who disseminated complete untrue and false statements.

Berjaya Corp lodges police report to identify 'unnamed source' in Forest City casino resort debacle

KUALA LUMPUR (April 29): Mercury Securities Sdn Bhd has recommended investors “subscribe” ACE Market-bound Farm Price Holdings Bhd at an initial public offering (IPO) price of 24 sen and a fair value (FV) of 29 sen based on 13x FY2024F earnings per share, translating to 21% upside to IPO price.</...

Mercury Securities advises investors to subscribe ACE Market-bound Farm Price with fair value of 29 sen 

Shares of YNH Property Bhd surged to their highest in three weeks as investors breathed a sigh of relief after the real estate developer said it has remedied the technical default of its sukuk programme.

YNH Property hits three-week high after default remedy

Real estate developer UOA Development Bhd said it plans to launch two new projects worth an estimated RM2.7 billion in gross development value (GDV) this year.

UOA Development to launch two projects worth RM2.7b by June

Engineering solutions provider Kawan Renergy Bhd on Monday began taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM33 million.

Kawan Renergy sets IPO price at 30 sen apiece in bid to raise RM33m 

Top Glove Corporation Bhd bagged the Platinum Trusted Brand Award in the Hygiene/Disposable Gloves category at the Reader’s Digest Malaysian Trusted Brand 2024 awards.

US ramps up help as countries plan response to China’s bullying

TotalEnergies, a global energy supplier based in France, has stated its commitment to increasing its investment in Malaysia’s upstream oil and gas (O&amp;G) sector, said Prime Minister Datuk Seri Anwar Ibrahim.

TotalEnergies has stated commitment to boost investment in Malaysia's upstream O&G sector — Anwar

Three people, including a two-year-old boy, died after a Huawei-backed Aito M7 SUV burst into flames following a collision with a truck on a highway in the Chinese city of Yuncheng in the northern province of Shanxi, state media said.

China crash involving Huawei-backed Aito electric vehicle kills three

An appliance maker in southern China is finding it hard to ship its products to Russia, not because of any problems with the gadgets but because China's big banks are throttling payments for such transactions out of concern over US sanctions.

China firms go 'underground' on Russia payments as banks pull back

Shares of Turiya Bhd rallied on Monday to their highest in over three years after Tan Sri Mohan MK Swami and his partner agreed to acquire a 58% stake in the property management firm for RM52.86 million.

Turiya rallies to over three-year high with entry of Mohan Swami, partner

The yen jumped suddenly against the dollar on Monday, with traders citing yen-buying intervention by Japanese authorities to try to underpin a relentless tumble in the currency to levels last seen over three decades ago.

After eight consecutive weeks of net selling, foreign investors shifted to become net buyers on Bursa Malaysia last week, with a total investment of RM292.2 million.

MIDF: Foreign investors ended eight weeks of selling with total inflow of RM292m last week

General insurer LPI Capital Bhd said on Monday its net profit surged 37% year-on-year in the first quarter, thanks largely to sharply lower net expenses from reinsurance contracts held and higher investment income.

LPI Capital's 1Q net profit surges 37% on lower reinsurance expenses, higher investment income

Malakoff Corp Bhd has inked a partnership with China Northeast Electric Power Engineering &amp; Services Co Ltd (NEPCS) for technical manpower supply for the operation and maintenance (O&amp;M) of combined cycle power plant (CCPP) projects under NEPCS in Bangladesh.

Malakoff inks deal to expand operation and maintenance services to Bangladesh

Once renowned as avid overseas tourists, the Japanese are staying closer to home these days.

Weaker yen keeps Japanese tourists at home while visitors throng

The yen jumped sharply against its peers on Monday after it slid past 160 per dollar earlier in the session, leading to speculation that Tokyo could have intervened in the currency market while the country was out for a holiday.

Shares of Singapore Telecommunications (Singtel) fell as much as 3.3% on Monday to a more than one-week low after it forecast non-cash impairment provisions of S$3.1 billion (RM10.8 billion) for the second half of 2024.

Singtel falls up to 3% after US$2.3b impairment 

KUALA LUMPUR (April 29): Bersatu Information Committee member Badrul Hisham Shaharin, or Chegu Bard, was charged in the Sessions Court here on Monday with two counts of inciting hatred and issuing defamatory&nbsp;remarks which will tarnish the good name of His Majesty Sultan Ibrahim, King of Malaysia.

Correction

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