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TMC Life stated that 99.9793% of shareholders voted via a poll in favour of the resolution to remove Wan Nadiah, 40, wit...
10/12/2024

TMC Life stated that 99.9793% of shareholders voted via a poll in favour of the resolution to remove Wan Nadiah, 40, with only 0.0207% voting against her removal.

PETALING JAYA: TMC Life Sciences Bhd shareholders have voted overwhelmingly to remove executive director and group CEO Wan Nadiah Wan Mohd Abdullah Yaakob from its board at an extraordinary general meeting (EGM) yesterday.

The fact that retail and foreign investors continued to be net sellers of Malaysian equities has also softened the marke...
10/12/2024

The fact that retail and foreign investors continued to be net sellers of Malaysian equities has also softened the market momentum.

PETALING JAYA: After a positive start to December that saw the FBM KLCI re-emerging above the 1,600-point mark, weak regional sentiment and fears over a Trump presidency may keep the barometer index flat for the rest of the month.

Kenanga Research projected that the affordable segment is likely to maintain its status quo, as its target customers – t...
10/12/2024

Kenanga Research projected that the affordable segment is likely to maintain its status quo, as its target customers – the bottom 40% income group (B40) – will be spared the impact of the impending fuel subsidy rationalisation.

PETALING JAYA: A two-speed local automotive market is being played out as expected in 2024 and this trend could persist into the following year, says Kenanga Research.

Kenanga Research anticipates the AI data centre to have a significant impact on YTL Power’s earnings in financial year 2...
10/12/2024

Kenanga Research anticipates the AI data centre to have a significant impact on YTL Power’s earnings in financial year 2027 (FY27), with a projected net profit of RM987.9mil once it becomes fully operational at 100MW capacity.

PETALING JAYA: YTL Power International Bhd’s 100 megawatt (MW) data centre powered by artificial intelligence (AI) in Kulai, Johor, is expected to be fully ready by the second quarter of 2025 (2Q25).

The provider of industrial automation and power systems seeks to raise RM70.06mil via its IPO at 28 sen per share, with ...
10/12/2024

The provider of industrial automation and power systems seeks to raise RM70.06mil via its IPO at 28 sen per share, with over 51% of the proceeds earmarked for expansion initiatives.

PETALING JAYA: ACE Market-bound Swift Energy Technology Bhd, which is currently operating its production facility at close to full capacity, aims to fuel its growth through the proceeds of its initial public offering (IPO).

RGM highlighted several challenges the industry may face, including the rising cost of living and e-invoicing.
10/12/2024

RGM highlighted several challenges the industry may face, including the rising cost of living and e-invoicing.

PETALING JAYA: The retail industry is expected to experience a 4% growth rate in 2025, says Retail Group Malaysia (RGM).

Delivery charges have steadily climbed in response to shipping disruptions in the Red Sea and unexpected spikes in deman...
10/12/2024

Delivery charges have steadily climbed in response to shipping disruptions in the Red Sea and unexpected spikes in demand, Samenta said.

PETALING JAYA: Micro, small and medium enterprises (MSMEs), accounting for nearly 97% of all business establishments in the country, are facing increasing challenges due to rising logistics costs, says the Small and Medium Enterprises Association of Malaysia (Samenta).

The Bursa Malaysia Technology Index is bottoming out, after taking a huge dive over the past months
10/12/2024

The Bursa Malaysia Technology Index is bottoming out, after taking a huge dive over the past months

PETALING JAYA: Although most of the technology companies are projecting shorter earnings visibility, RHB Research says it expects stronger orders going into the sector’s financial year 2025 (FY25).

The lender has initiated several measures to defend its NIM including growing its current account/savings account, incre...
10/12/2024

The lender has initiated several measures to defend its NIM including growing its current account/savings account, increasing retail deposits, and reducing reliance on more expensive wholesale deposits.

PETALING JAYA: Public Bank Bhd expects its net interest margin (NIM) to come under pressure in the fourth quarter of 2024 (4Q24) due to the seasonal uptick in deposit competition towards year-end.

Despite the soft 1Q25 earnings, research houses said VSI is optimistic about prospects for its financial year 2025 (FY25...
10/12/2024

Despite the soft 1Q25 earnings, research houses said VSI is optimistic about prospects for its financial year 2025 (FY25)

PETALING JAYA: VS Industry Bhd (VSI) has had a weak start in the first quarter of its financial year 2025 (1Q25), weighed down by higher costs and unfavourable foreign exchange rates.

Many local tech companies are anticipated to benefit from foreign-exchange recovery in the upcoming quarter, given the r...
10/12/2024

Many local tech companies are anticipated to benefit from foreign-exchange recovery in the upcoming quarter, given the recent retreat of the ringgit against the US dollar.

PETALING JAYA: The local semiconductor sector is expected to continue seeing gradual earnings recovery, led by an anticipated healthy rebound in global demand.

The companies have been discussing the structure of a deal that may involve a mix of cash and shares and that would crea...
09/12/2024

The companies have been discussing the structure of a deal that may involve a mix of cash and shares and that would create an entity with about 100 million customers, Bloomberg News reported in April.

KUALA LUMPUR: Malaysian wireless carrier Axiata Group Bhd and Indonesian conglomerate PT Sinar Mas Group are nearing an agreement to merge their telecommunications operations in South-East Asia’s largest economy, people familiar with the matter said.

At 6 pm, the local currency slid to 4.4225/4280 against the US dollar, compared to last Friday’s close of 4.4170/4220.
09/12/2024

At 6 pm, the local currency slid to 4.4225/4280 against the US dollar, compared to last Friday’s close of 4.4170/4220.

KUALA LUMPUR: The ringgit closed lower against the greenback on Monday as strong US nonfarm payrolls (NFP) data and the fall of the government in Syria spurred buying of the safe haven US dollar.

Gagasan Nadi has signed a development rights agreement (DRA) to develop affordable housing in Kwasa Damansara worth over...
09/12/2024

Gagasan Nadi has signed a development rights agreement (DRA) to develop affordable housing in Kwasa Damansara worth over RM1bil in gross development value.

PETALING JAYA: Construction and property group Gagasan Nadi Cergas Bhd (GNCB) has signed a development rights agreement (DRA) to develop affordable housing in Kwasa Damansara worth over RM1bil in gross development value.

The glove maker said the entitlement and payment dates of the special dividend have been fixed on Dec 23, 2024 and Dec 3...
09/12/2024

The glove maker said the entitlement and payment dates of the special dividend have been fixed on Dec 23, 2024 and Dec 31, 2024, respectively.

KUALA LUMPUR: Hartalega Holdings Bhd has declared a special single-tier dividend of 10.85 sen per share for the financial year ending March 31, 2025 (FY25).

Haily said the project will take up to 15 months from the commencement date.
09/12/2024

Haily said the project will take up to 15 months from the commencement date.

PETALING JAYA: Haily Group Bhd has accepted a letter of award from Meridin East Sdn Bhd for the construction and completion of 168 units of double storey terrace houses in Johor Baru, worth RM38.2mil.

Carlo Rino said a total of 13,395 applications for 949.87 million issue shares were received from the Malaysian public, ...
09/12/2024

Carlo Rino said a total of 13,395 applications for 949.87 million issue shares were received from the Malaysian public, resulting in an overall oversubscription rate of 18.43 times.

KUALA LUMPUR: Carlo Rino Group Bhd’s initial public offering was oversubscribed by 18.43 times ahead of its listing transfer from the LEAP Market to the ACE Market of Bursa Malaysia Securities Bhd.

As a regulatory body, the SC does not endorse any investment schemes or solicit monies from the public in such capacity.
09/12/2024

As a regulatory body, the SC does not endorse any investment schemes or solicit monies from the public in such capacity.

KUALA LUMPUR: The Securities Commission (SC) has cautioned the public on fake letters and emails purportedly from the SC.

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