<div class=newsTextDataWrapInner><p>(Dec 29): Russian oil pipeline operator Transneft said Kazakhstan's KazTransOil had requested 1.2 million tonnes of capacity on the Druzhba pipeline for 2023 to facilitate extra oil shipments to Germany, the RIA Novosti news agency reported.</p></div>

<div class=newsTextDataWrapInner><p>The European Union pledged to stop buying Russian oil via maritime routes from Dec 5 as part of wider sanctions over Ukraine.</p></div>

<div class=newsTextDataWrapInner><p>The Druzhba pipeline remains exempt from sanctions, but Germany's refineries in Leuna and Schwedt, connected to the pipeline, are no longer ordering Russian crude for next year, Germany's economy ministry has said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The ministry has been optimistic Kazakh oil, which would come through the Druzhba pipeline via Poland, can help supplement replacement crude oil shipments for Schwedt.</p></div>

<div class=newsTextDataWrapInner><p>According to RIA, Transneft said KaztTransOil — Kazakhstan's national oil transporter — had asked to ship an additional 300,000 tonnes of oil during the first quarter of next year. The request will need to be approved by Russia's energy ministry.</p></div>


Russian oil pipeline operator Transneft said Kazakhstan's KazTransOil had requested 1.2 million tonnes of capacity on the Druzhba pipeline for 2023 to facilitate extra oil shipments to Germany, the RIA Novosti news agency reported.

The European Union pledged to stop buying Russian oil via maritime routes from Dec 5 as part of wider sanctions over Ukraine.

Kazakhstan seeks to raise supply of oil to Germany via Druzhba in 2023 — RIA

Intel said on Wednesday its sales would take a hit after the US revoked some of the chipmaker's export licences for a customer in China, in a move Beijing complained was going too far in the name of national security.

Intel, Qualcomm say exports to China blocked as Beijing objects

App provider Telegram is ready to work together with the government to fight rampant digital piracy on its platform, Communications Minister Fahmi Fadzil said.

He added that several meetings have been held with Telegram to discuss the issue, the latest being in April.

App provider Telegram ready to work together to fight digital piracy — Fahmi

The Malaysian Anti-Corruption Commission (MACC) arrested a lawyer on Wednesday afternoon on suspicions of soliciting and accepting a bribe of around RM1.6 million from an entrepreneur.

The suspect, who is in his 30s, was arrested at a fast food restaurant around Ipoh, Perak at around 12 noon after receiving RM100,000 in cash and two cheques for RM1.5 million, a source said.

MACC arrests lawyer for soliciting, accepting RM1.6 mil bribe

The Biden administration is poised to open up a new front in its effort to safeguard US AI from China and Russia with preliminary plans to place guardrails around the most advanced AI Models, the core software of artificial intelligence systems like ChatGPT, sources said.

US eyes curbs on China's access to AI software behind apps like ChatGPT

The benchmark S&P 500 was broadly unchanged on Wednesday, pausing after a recent rally as investors assessed the outlook for US monetary policy, while Uber's shares dropped on a downbeat forecast.

Uber shed nearly 9%, becoming the biggest decliner on the S&P 500, after the ride-hailing platform forecast second-quarter gross bookings below expectations and posted a surprise first-quarter loss.

S&P 500 pauses after recent gains as investors assess rate path

President Joe Biden's decision to hold up delivery of high payload munitions to Israel was taken over a possible Israeli offensive in Rafah that Washington believes could put Palestinian civilians at risk, Defense Secretary Lloyd Austin said on Wednesday.

US paused Israel weapons shipment due to Rafah: US defence secretary

Guyana's cabinet has approved a bid for an offshore oil block by a consortium including QatarEnergy, TotalEnergies and Malaysian state oil firm Petronas, a Guyana minister said on Wednesday.

QatarEnergy, TotalEnergies and Petronas negotiating oil production deal, says Guyana official

The Malaysian Anti-Corruption Commission (MACC) has arrested a company director and a law firm owner on suspicion of submitting false information related to foreign currency investments, totalling approximately RM38 million.

Company director, law firm owner detained over RM38 million investment case — MACC

KUALA LUMPUR (May 8): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:

Sentral Real Estate Investment Trust (KL:SENTRAL), or Sentral REIT, posted a 30.29% increase in its net property income in the first quart...

Sentral REIT, Vstecs, Dufu Tech, MNRB, Mega First,  Ivory Properties, Paragon Globe and Sarawak Cable

Moody's Ratings has affirmed CIMB Group Holdings Bhd's (KL:CIMB) Baa1 issuer ratings and maintained its stable outlook, based on the group's improved solvency and stable liquidity as well as Moody's forecast that the group's problem loan ratio will remain stable at around 2.5% over the next 12-18 months.

Moody’s affirms CIMB’s Baa1 issuer ratings, upgrades baseline credit assessment

<p>KUALA LUMPUR (May 8): The global semiconductor industry is expected to rebound this year, driven by demand for generative artificial intelligence (AI), with the industry’s upcycle likely to continue until 2025 or 2026, said Nomura Asset Management.</p>


Global semiconductor industry to recover this year through 2026 on generative AI demand — Nomura

<p>Industronics Bhd said it has been appointed as the project management company to develop a hotel and golf course on a 155-acre parcel of land in Langkawi.</p>


Widad’s largest shareholder appoints Industronics to manage Langkawi golf course, hotel development

<p>The emergence of digital banks in Malaysia does not significantly impact traditional banks, primarily due to their limited ability to achieve rapid growth within the initial years of operation.</p>

<p>S&amp;P Global Ratings senior analyst, financial institution ratings, South and Southeast Asia (SSEA), Sue Ong said that the five digital banking licences issued by the Bank Negara Malaysia (BNM) in 2022 do not seem to be a game changer for now.</p>


Digital banks will not affect traditional banks in Malaysia — S&P Global Ratings

<p>Cryptocurrency exchange FTX has amassed billions of dollars more than it needs to cover what customers lost in its November 2022 collapse, setting them up to receive full recoveries, plus interest, a rare outcome in US bankruptcy proceedings.</p>


FTX has billions more than needed to pay bankruptcy victims

<p>Pharmaniaga Bhd’s (KL:PHARMA) has been flagged by its independent auditors again, as its current deficit and capital deficiency for the financial year ended Dec 31, 2023 (FY2023) widened from a year ago.</p>

<p>Messrs PricewaterhouseCoopers PLT (PwC) raised material uncertainty on the Pharmaniaga whereby its audit indicated that the group and the company incurred net losses of RM78.7 million and RM63.3 million respectively.</p>


Pharmaniaga’s auditors raise going concern issue again as current deficit, capital deficiency widen

<p>Fitters Diversified Bhd [KL:FITTERS] saw Doris Wong Sing Ee emerge as its substantial shareholder after she acquired 45 million shares in the fire protection equipment supplier.</p>

<p>Wong acquired 45 million Fitters shares from the open market on May 3, raising her stake in the fire protection equipment supplier to 5.12%, Fitters bourse filing showed.</p>


Metronic Global director Wong emerges as Fitters’ substantial shareholder

<p>Dufu Technology Corp Bhd’s (KL:DUFU) net profit for the first quarter ended March 31, 2024 (1QFY2024) fell by 59.3% year-on-year to RM4.43 million or 0.8 sen per share from RM10.88 million or 2.1 sen per share mainly due to a drop in revenue and higher overhead costs.</p>


Dufu Tech 1Q net profit falls 59% mainly due to lower HDD components sales 

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EVENING 5: Five things you need to know today

<p>Mega First Corp Bhd (MFCB) is buying a 64% stake in CSC Agriculture Holdings Sdn Bhd, a company that is involved in plantation and the wholesale of fruits and vegetables, for RM25 million.</p>


Mega First buys 64% stake in CSC Agriculture for RM25 mil

<p>KUALA LUMPUR (May 8): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:</p>

<p><strong>Sentral Real Estate Investment Trust</strong> (KL:SENTRAL), or Sentral REIT, posted a 30.29% increase in its net property income in the first quart...

<p>KUALA LUMPUR (May 8):&nbsp;Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Wednesday:</p>


FBM KLCI down 0.06% to 1,604.75 on May 8, 2024 

<p>The Home Ministry (KDN) has inked 14 contracts with local companies valued at RM2.156 billion in conjunction with the Defence Services Asia (DSA) Exhibition &amp; Conference 2024 and National Security (NATSEC) Asia 2024.</p>

<p>Home Minister Datuk Seri Saifuddin Nasution Ismail said the signing of the contracts is symbolic of the ministry’s continuous efforts for agencies under its purview.</p>


Home Ministry signs 14 contracts with local companies worth over RM2 bil

<p>Malaysian conglomerate Axiata Group (KL:AXIATA) and Indonesian group PT Sinar Mas have sought permission from the Indonesian government to merge their telco units, the communications minister told <i>Reuters</i> on Wednesday.</p>


Axiata, Sinar Mas seeking permission for Indonesia telco merger, minister says

<p>Paragon Globe Bhd (KL:PGLOBE) is selling part of a parcel of freehold land it had just acquired in the district of Plentong, Johor Bahru, for RM238.32 million to improve its liquidity and financial position.</p>


Paragon Globe to sell part of JB land it just bought for RM238 mil

<p>US chip production is poised to explode in coming years, helping ease a risky dependency on East Asia, according to a projection by the Semiconductor Industry Association.</p>


US to triple chipmaking capacity by 2032, industry group says

<p>Sarawak Cable Bhd (KL:SCABLE) has to go back to the drawing board and look for a new white knight to regularise its financials.</p>

<p>The Practice Note 17 (PN17) company announced that the Memorandum of Agreement it entered with Serendib Capital Ltd has fallen through.</p>


Sarawak Cable needs a new white knight as 'resuscitation exercise' falls through

<p>Intel Corp expects second-quarter revenue to fall below the midpoint of previously issued projections because of a new US ban on chip exports to Huawei Technologies Co.</p>


Intel sees revenue falling below midpoint on US Huawei ban

<p>The Transport Ministry (MOT) does not reject any strategic partnerships with private parties to provide services for its agencies, but such partnerships needed to be done properly and required official approval.</p>

<p>Its minister, Anthony Loke said the ministry did not want any company to launch or announce any services for government departments suddenly without the knowledge of the ministry itself.</p>


Loke tells BJAK to submit official application for strategic partnership with MOT, JPJ

<p>Practice Note 17 (PN17) company Ivory Properties Group Bhd (KL:IVORY) said in a Bursa Malaysia filing on Wednesday it had been granted a restraining order by the High Court of Malaya in Penang to restrain all further proceedings against the company including winding up, execution and arbitration from its creditors.</p>

<p>The restraining order, which will last for a period of three months from April 19, 2024, is to enable Ivory Gleneary Sdn Bhd (IGSB), a wholly-owned subsidiary of Ivory Properties, and its creditors to formalise the proposed scheme of arrangement and thus allow for the extension of time to submit the company's regularisation plan in order to get out of the PN17 status.</p>


Ivory Properties gets three-month restraining order to avoid winding up proceedings by creditors

<p>Financial planners need to carry out their duty to report any suspicious activities, that might be linked to money laundering, to the authorities, Bukit Aman Anti-Money Laundering Criminal Investigation Division assistant director ACP Foo Wei Min.</p>
