Latest
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Corporate News
Paragon Globe proposes to sell Johor land for RM238.32mil
KUALA LUMPUR: Paragon Globe Bhd’s (PGB) wholly owned subsidiary Paragon Business Hub Sdn Bhd has entered into a sale and purchase agreement with Bridge Data Centres Malaysia IV Sdn Bhd for a proposed disposal of land for RM238.32 million.
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Corporate News
Axiata, Sinar Mas seek permission for Indonesia telco merger, minister says
JAKARTA: Malaysian conglomerate Axiata Group and Indonesian group PT Sinar Mas have sought permission from the Indonesian government to merge their telco units, the communications minister told Reuters on Wednesday.
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Corporate News
Independent auditor raises going concerns about Pharmaniaga
KUALA LUMPUR: Pharmaniaga Bhd’s independent auditors, Messrs PricewaterhouseCoopers PL has reported a material uncertainty related to going concern in its independent auditors’ report dated March 29, 2024.
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Forex
Ringgit ends lower on firmer US dollar index
KUALA LUMPUR: The ringgit was lower against the US dollar at the close on Wednesday due to a lack of demand as the US Dollar Index (DXY) continued to strengthen, said an economist.
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Corporate News
Artroniq sells Penang property for RM1.8mil
KUALA LUMPUR: Artroniq Bhd’s 60% owned subsidiary, Fujim Digital Sdn Bhd has proposed to dispose of a piece of land in Ayer Itam, Penang and a unit of the single-storey semi-wooden house in Penang for RM1.8mil.
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Banking
Digital banks will not affect traditional banks in Malaysia
KUALA LUMPUR: 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.
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Corporate News
Dufu sees rise in global semiconductor sales and memory sector
KUALA LUMPUR: Dufu Technology Corp Bhd believes global semiconductor sales are increasing, along with a memory sector resurgence, signalling a potential new growth cycle, particularly benefiting local manufacturers.
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Business
MICCI, Penang work together to boost competitiveness in semiconductors, ports, trade
KUALA LUMPUR: Penang has unveiled several crucial initiatives focused on strengthening the state's position as a global economic leader in three key sectors: trade, technology, and tourism.
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Corporate News
VSTECS appointed as the first Amazon Web Services distributor in Malaysia
KUALA LUMPUR: VSTECS Bhd through its wholly-owned subsidiary, VSTECS KU Sdn Bhd been named as the first Amazon Web Services (AWS) distributor in Malaysia.
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Smartphones
Apple’s China iPhone shipments soar 12% in March after discounts
Chinese iPhone shipments jumped about 12% in March after Apple Inc and its retailers slashed prices, official data showed, suggesting efforts to arrest an accelerating decline in sales are yielding early results.
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Markets
KLCI dips on profit taking, stays firmly above 1,600 level
KUALA LUMPUR: The FBM KLCI finished marginally on Wednesday but remained firmly above the 1,600-point level, as profit-taking on select blue chips dragged.
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Banking
Swedish central bank lowers key rate, sees two more cuts this year
STOCKHOLM: Sweden's central bank cut its key interest rate to 3.75% from 4.00% on Wednesday as expected and said it was likely to cut the rate two more times in the second half of the year if the outlook for inflation still holds.
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Banking
Public Bank mobilises over RM53bil in sustainable finance
KUALA LUMPUR: Public Bank Bhd has mobilised more than RM53 billion of sustainable finance since 2020 which covers financing portfolio such as energy efficient vehicles financing, affordable home financing, corporate loans and green financing facilities.
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Business
Stinky tofu tycoon a Changsha success story
FOR most, it smells somewhat odd, yet tastes delicious.
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Business
Indonesia sees more capital inflows after April rate hike, c.bank governor says
JAKARTA: Indonesian central bank governor Perry Warjiyo said on Wednesday more capital inflows had been seen since Bank Indonesia hiked interest rates last month in an effort to stabilise the rupiah, and he expected the trend would continue.
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Banking
Bank Negara international reserves fall to US$112.8bil
KUALA LUMPUR: Bank Negara’s international reserves fell to US$112.8bil as at April 30 compared with US$113.4bil as at April 15.
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Energy
Oil dips on rising US stockpiles, cautious supply expectations
OIL prices fell in Asian trade on Wednesday as industry data showed a pile-up in crude and fuel inventories in the U.S., a sign of weak demand, and cautious supply expectations emerged ahead of an OPEC+ policy meeting next month.
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Corporate News
Alstom to ask shareholders for US$1bil in rights issue to slash debt
French train maker Alstom on Wednesday said it would ask shareholders for around 1 billion euros ($1 billion) through a rights issue as part of a plan to slash debt and bring its finances back on track.
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Corporate News
Shell to sell Singapore refinery, petrochemical assets to Chandra Asri and Glencore
SINGAPORE: Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore to a joint venture between Indonesia's Chandra Asri Capital and Glencore Asian Holdings.
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Taxation
Malaysia mulls giving full tax exemption on emergency PRS withdrawals
KUALA LUMPUR: Malaysia is considering to provide full tax exemptions on small amounts of withdrawal from private retirement schemes (PRS) for emergency purposes, said Securities Commission Malaysia (SC) chairman Datuk Seri Awang Adek Hussin.