Latest
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Corporate News
MISC acquires full ownership of FPSO Kikeh
KUALA LUMPUR: In its latest effort to streamline its business activities, MISC Bhd has announced the acquisition of SBM Holdings Inc SA's 49% interest in FPSO Kikeh, as well as the divestment of its 49% stake in FPSO Espirito Santo.
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Corporate News
OSK unit acquires manufacturing facilities in JB for RM85mil
KUALA LUMPUR: OSK Holdings Bhd's indirect 97.47%-owned subsidiary, Olympic Cable Company Sdn Bhd, has proposed to acquire property and assets in Johor Bahru from Universal Cable (M) Bhd for RM85mil.
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Corporate News
Varia unit bags RM334.69mil contract for Johor River flood mitigation project
KUALA LUMPUR: Varia Bhd's wholly-owned subsidiary Pembinaan Teguh Sdn Bhd has secured a contract from Ikatan Harmoni Sdn Bhd for Phase 1, Package 1 of the Johor River flood mitigation project in Kota Tinggi, Johor.
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Telcos
CelcomDigi, Borneo Restu in partnership to dive digital innovation in Sarawak
KUCHING: CelcomDigi Bhd and Borneo Restu Sdn Bhd have entered into a strategic partnership to enhance high-speed Internet access across Sarawak under the point of presence (PoP) Phase 2 project in support of the state’s ongoing digital transformation efforts.
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Aviation
Malaysia Airlines expecting the delivery of five A330neos by 1Q25 - Captain Izham
KUALA LUMPUR: Malaysia Airlines is expecting the delivery of five Airbus A330neo aircraft by the first quarter of 2025 (1Q 2025), following the arrival of its first A330neo next month, said Malaysia Aviation Group (MAG) group managing director Datuk Captain Izham Ismail.
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Economy
NCCIM: BRICS entry to diversify Malaysia's economic diplomacy
KUALA LUMPUR: Malaysia's participation in the BRICS economic bloc will allow the country to diversify its economic diplomacy and strengthen collaboration through shared initiatives, according to the National Chamber of Commerce and Industry of Malaysia (NCCIM).
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Banking
Bank Negara's international reserves rise to US$116.8bil as of Aug 30
KUALA LUMPUR: Malaysia’s international reserves rose to US$116.8 billion as at Aug 30, 2024, from US$114.7 billion (US$1=RM4.33) as at July 31, 2024.
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Aviation
Malaysia Airlines will offer direct flights to Paris starting March 2025
KUALA LUMPUR: Malaysia Airlines will offer direct flights to Charles de Gaulle Airport in Paris from Kuala Lumpur International Airport (KLIA) Terminal 1 starting on March 22, 2025.
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Markets
Markets on tenterhooks ahead of key US jobs data, yen jumps
SYDNEY: Asian shares struggled for direction while the yen jumped on Friday, as investors remained on tenterhooks ahead of U.S. jobs data that could decide the size and speed of coming rate cuts in the world's largest economy.
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Corporate News
Hartalega allocates RM300mil capex for automation, capacity upgrades
KUALA LUMPUR: Hartalega Holdings Bhd plans to spend RM300 million on capital expenditure (capex) over the next 12 months to increase production capacity and automation, said chief executive officer Kuan Mun Leong.
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Markets
MyDIGITAL Corp, Bursa Malaysia ink MoC to drive innovation through digital transformation
KUALA LUMPUR: MyDIGITAL Corporation (MyDIGITAL Corp) and Bursa Malaysia Bhd have entered into a memorandum of collaboration (MoC) to empower public listed companies (PLCs) in Malaysia to achieve their environmental, social, and governance (ESG) goals through the adoption of digital technologies.
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Commodities
Oil steadies ahead of key US jobs report
OIL prices ticked up in Asian trading on Friday, with investors exercising caution ahead of key U.S. employment data as they weighed a big withdrawal from U.S. crude inventories and a delay to production hikes by OPEC+ producers.
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Banking
Hong Leong Islamic Bank partners Sedania As Salam to offer digital hibah financing
KUALA LUMPUR: Hong Leong Islamic Bank (HLISB) has partnered Sedania As Salam Capital Sdn Bhd to expand its digital Islamic wealth management offerings.
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Corporate News
Gamuda JV accepts contract for Ulu Padas Hydroelectric project
KUALA LUMPUR: Gamuda Bhd via a joint venture firm has accepted a letter of notification to undertake the development of the 187.5MW Ulu Padas Hydroelectric project from the Energy Commission of Sabah.
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Markets
Bursa slides into red amid caution over US economic health
KUALA LUMPUR: Bursa Malaysia succumbed to volatility in the early session with 599 stocks registering losses as investors pulled out of the market ahead of a key US economic report.
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Logistics
Johor Port registers record container throughput of 102,324 TEUs in August
KUALA LUMPUR: Johor Port Bhd, a member of MMC Group, registered a record monthly throughput of 102,324 TEUs in August 2024, surpassing the previous record of 99,039 TEUs in July 2019.
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Investment
SC uncovers scam using fake investment documents
KUALA LUMPUR: The Securities Commission (SC) today cautioned the public about a new investment scam involving fake Information Memorandums (IMs) that falsely claim to be lodged with or endorsed by the regulator.
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Markets
China creates US$230bil brokerage powerhouse as consolidation gathers pace
HONG KONG: The merger of two state-backed brokerages in China to create a sector leader with $230 billion in assets is part of Beijing's drive to consolidate the $1.7-trillion industry amid challenging markets, and the move is set to gather pace, analysts said.
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Analyst Reports
Analysts see OPR holding steady for the year
KUALA LUMPUR: CIMB Investment Bank Bhd (CIMB) expects Bank Negara Malaysia (BNM) to maintain the Overnight Policy Rate (OPR) at its current level until the end of 2025.
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Forex
Ringgit edges higher vs US$ after Bank Negara holds rate at 3%
KUALA LUMPUR: The ringgit opened slightly higher against the US dollar on Friday after Bank Negara Malaysia (BNM) maintained the overnight policy rate (OPR) at 3.00 per cent, reflecting confidence in Malaysia’s economic growth prospects, said an analyst.