Corporate News

Itmax to expand into other geographical territories and segments

PETALING JAYA: Itmax System Bhd is looking to continue its growth by expanding its service offerings and expanding into other geographical territories and segments.

Markets

Banking stocks lift FBM KLCI higher

KUALA LUMPUR: The FBM KLCI closed higher on Monday, driven by gains in banking stocks, as corporate earnings take centre stage this week with the results season in its final stretch.

Corporate News

Betamek secures RM396,420 government grant for digital transformation

KUALA LUMPUR: Betamek Bhd has accepted a government grant of RM396,420 from the Entrepreneur and Cooperatives Development Ministry (MECD), managed by Malaysia Industrial Development Finance Bhd (MIDF).

Energy

Oil prices ease, Russia, Iran tensions check losses

SINGAPORE: Oil prices slipped on Monday following 6% gains last week, but supply worries amid mounting tensions between Western powers and major oil producers Russia and Iran kept a floor under prices.

Commodities

Gold drops nearly 2% on profit-booking, Trump's Treasury secretary pick

GOLD dropped nearly 2% on Monday, weighed down by profit-taking after a five-session rally, with further pressure from the announcement of fund manager Scott Bessent as the next U.S. Treasury secretary.

Markets

Bonds bounce, dollar dips on Bessent pick

SINGAPORE: Bond markets cheered the selection of fund manager Scott Bessent as U.S. Treasury secretary on Monday on expectations he could keep a leash on U.S. debt, while falling yields tugged down the dollar and the mood lifted U.S. stock futures close to record highs.

Corporate News

Mr DIY Indonesian business plans IPO to raise up to US$297mil

THE Indonesian sister company of Mr DIY Group (M) Bhd. will list shares in Jakarta through an initial public offering that seeks to raise as much as 4.7 trillion rupiah ($297 million), in what would be the nation’s biggest listing in more than a year.

Auto

China's NEV market in a league of its own

DESPITE the slow growth of electric vehicles globally, Chinese startups have reported notable quarterly results and anticipate higher growth in the future in the world's largest and most competitive market.

Economy

Singapore Oct core inflation at 2.1% y/y, lowest in almost 3 years

SINGAPORE: Singapore's key consumer price gauge rose 2.1% in October from a year earlier, lower than economists' forecasts and the smallest rise in almost three years, official data showed on Monday.

Corporate News

TMK Chemicals aims to raise RM385mil from Main Market IPO

KUALA LUMPUR: TMK Chemicals Bhd, which is scheduled to be listed on the Main Market of Bursa Malaysia on Dec 12, 2024, aims to raise RM385mil from its initial public offering (IPO) to fund its business expansion.

Economy

Malaysia's September LI up 1.8%, shows continued economic growth - DoSM

KUALA LUMPUR: Malaysia's leading index (LI) remained positive in September 2024, recording a 1.8 per cent annual growth to reach 111.5 points versus 109.5 points in the same month a year ago, said Statistics Department Malaysia (DoSM).

Corporate News

CBH Engineering inks underwriting deal with Mercury Securities

KUALA LUMPUR: ACE Market-bound CBH Engineering Holding Bhd has entered into an underwriting agreement with Mercury Securities Sdn Bhd for its upcoming initial public offering (IPO).

Corporate News

ACE Market-bound Topvision aims to raise RM17.89mil from public offering

KUALA LUMPUR: Topvision Eye Specialist Bhd, which is transferring its listing from the LEAP Market to the ACE Market of Bursa Malaysia, aims to raise RM17.89 million through the public offering.

Markets

FBM KLCI jumps 15 points as banks rally ahead of results

KUALA LUMPUR: Malaysia's stock benchmark leapt nearly 15 points higher on Monday as investors picked up bank stocks ahead of the release of their corporate results this week.

Corporate News

World Bank Group appoints Judith Green as country manager for Malaysia

KUALA LUMPUR: The World Bank Group has named Judith Green as its new country manager for Malaysia.

Corporate News

Bank Pembangunan, Aim Concept ink RM75mil facility for Penang General Hospital

KUALA LUMPUR: Bank Pembangunan Malaysia Bhd (BPMB) and Aim Concept Sdn Bhd (ACSB) have signed a RM75 million financing facility to initiate a larger RM428 million expansion project for Penang General Hospital’s specialist clinic and wards.

Commodities

Oil holds at 2-week high as Russia, Iran tensions support prices

SINGAPORE: Oil prices hovered near two-week highs on Monday following 6% gains last week, as geopolitical tensions heightened between western powers and major oil producers Russia and Iran, raising risks of supply disruption.

Markets

Foreign funds record RM165.3mil weekly net sale of Malaysian equities

KUALA LUMPUR: The outflow of foreign funds from Bursa Malaysia continued for a fifth consecutive week with net selling of RM165.3mil.

Markets

FBM KLCI rises as reporting period in full swing

KUALA LUMPUR: The FBM KLCI bounced higher on Monday as announcements of corporate results are expected to pick up in the final week of the reporting period.

Forex

Ringgit opens higher against greenback as DXY retreats

KUALA LUMPUR: The ringgit opened marginally higher against the US dollar on Monday due to a decline in the US Dollar Index (DXY) following its recent two-year high, according to an analyst.