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(Highlight) CapitaLand Investment Ltd will sell its stake in one of Singapore’s most high-end malls to a real estate investment trust (REIT) backed by the property company, as it seeks to reduce assets on the balance sheet. - Bloomberg
CapitaLand Investment Ltd will sell its stake in one of Singapore’s most high-end malls to a real estate investment trust (REIT) backed by the property company, as it seeks to reduce assets on the balance sheet.
![[Branded] Expecting market volatility from 2024 US elections? Gain insights from HSBC's Chief Investment Officer, James ...](https://img3.medioq.com/253/652/929686652536523.jpg)
[Branded] Expecting market volatility from 2024 US elections? Gain insights from HSBC's Chief Investment Officer, James Cheo, on the potential impact on investment outcomes.
(Market Preview) Asian stocks were poised for a steady open on Tuesday, with investors holding their nerve as concerns mount over China’s economic woes. - Bloomberg
Asian stocks were poised for a steady open on Tuesday, with investors holding their nerve as concerns mount over China’s economic woes. Futures show small gains for equity benchmarks in Tokyo and Hong Kong, while shares in Sydney look flat. US contracts show little change for when Wall Street trad...
Phillip Capital thinks Binastra can be a champagne supernova in the construction sector.
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99 Speed Mart Retail Holdings Bhd (KL:99SMART), which is set to list on the Main Market of Bursa Malaysia on Sept 9, posted a 66.3% year-on-year jump in its second quarter net profit, driven by higher sales from its expanded number of outlets and higher other operating income.
In today’s edition of Evening 5:
• FGV CFO Mohd Hairul appointed as interim CEO as Nazrul Izam's contract expires
• Malaysia Airlines says KL-Incheon flight MH66 encountered hydraulic issue
• IRB seeks RM246m from DRB-Hicom for disposal of Alam Flora stake
• Kenanga acquires 8% stake in Singaporean fintech firm Helicap
• Penang-based Chemlite files for ACE Market IPO to raise funds for new facility
Mavcom today gave an update on the newly-gazetted Malaysian Aviation Consumer Protection Code 2016, saying that airlines will need to pay up for delays.
Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Monday:
(Aviation) All airlines are now required to offer refunds to passengers in their original mode of payment within 30 days for rescheduling or delaying flights on the day of departure, according to the Malaysian Aviation Commission (Mavcom).
All airlines are now required to offer refunds to passengers in their original mode of payment within 30 days for rescheduling or delaying flights on the day of departure, according to the Malaysian Aviation Commission (Mavcom).
(Highlight) Israelis began large labour strikes on Monday and took to the streets again in their strongest push yet to force Prime Minister Benjamin Netanyahu’s government to accept a ceasefire with Hamas and secure the release of hostages held in Gaza. - Bloomberg
Israelis began large labour strikes on Monday and took to the streets again in their strongest push yet to force Prime Minister Benjamin Netanyahu’s government to accept a ceasefire with Hamas and secure the release of hostages held in Gaza.
Transport Minister Anthony Loke Siew F**k gives an update on the final number of coaches that will be available for the KLIA aerotrain and the number of passengers it will be able to carry.
Transport Minister Anthony Loke Siew F**k says that the KLIA aerotrain is expected to resume operations by the end of January next year.
(Global Markets) The equity market rally may stall near record highs even if the Federal Reserve starts a highly anticipated rate-cutting cycle, according to JPMorgan Chase & Co strategists. - Bloomberg
The equity market rally may stall near record highs even if the Federal Reserve starts a highly anticipated rate-cutting cycle, according to JPMorgan Chase & Co strategists.
(Global Economy) Former US president Donald Trump "has a lot on his plate" and misunderstands Taiwan's role in the semiconductor industry, possibly because others have misinformed him, the island's Economy Minister Kuo Jyh-huei said on Monday. - Reuters
Former US president Donald Trump "has a lot on his plate" and misunderstands Taiwan's role in the semiconductor industry, possibly because others have misinformed him, the island's Economy Minister Kuo Jyh-huei said on Monday.
(Edge Weekly) Malaysia, situated just north of the equator, is free from many forms of natural disasters. However, it is prone to seasonal flooding that is increasing in frequency on the back of global warming.
Malaysia, situated just north of the equator, is free from many forms of natural disasters. However, it is prone to seasonal flooding that is increasing in frequency on the back of global warming.
(Highlight) Malaysia’s manufacturing sector is poised to see “optimum growth” in the second half of 2024 (2H2024), driven by supportive domestic policies and strong global demand, said the Federation of Malaysian Manufacturers (FMM) on Monday.
KUALA LUMPUR (Sept 2): Malaysia’s manufacturing sector is poised to see “optimum growth” in the second half of 2024 (2H2024), driven by supportive domestic policies and strong global demand, said the Federation of Malaysian Manufacturers (FMM) on Monday.
(Trade War) China has threatened severe economic retaliation against Japan if Tokyo further restricts sales and servicing of chipmaking equipment to Chinese firms, complicating US-led efforts to cut the world’s second-largest economy off from advanced technology. - Bloomberg
(Sept 2): China has threatened severe economic retaliation against Japan if Tokyo further restricts sales and servicing of chipmaking equipment to Chinese firms, complicating US-led efforts to cut the world’s second-largest economy off from advanced technology.
(Aviation) The Kuala Lumpur International Airport (KLIA) aerotrain, which links the satellite buildings with the main airport terminal, is expected to resume operations by Jan 31, 2025.
KUALA LUMPUR (Sept 2): The Kuala Lumpur International Airport (KLIA) aerotrain, which links the satellite buildings with the main airport terminal, is expected to resume operations by Jan 31, 2025.
(Highlight) Kelantan, Terengganu, Kedah and Perlis have set up a joint company as part of the collaboration between the four Opposition states, said their adviser Tun Dr Mahathir Mohamad.
KUALA LUMPUR (Sept 2): Kelantan, Terengganu, Kedah and Perlis have set up a joint company as part of the collaboration between the four Opposition states, said their adviser Tun Dr Mahathir Mohamad.
In The Edge Malaysia this week — our one-on-one interview with United Overseas Bank’s third generation leader Wee Ee Cheong.
(1MDB Watch) Fugitive Low Taek Jho (Jho Low) was not acting on behalf of Datuk Seri Najib Razak in 1Malaysia Development Bhd (1MDB) affairs, the High Court heard on Monday.
KUALA LUMPUR (Sept 2): Fugitive Low Taek Jho (Jho Low) was not acting on behalf of Datuk Seri Najib Razak in 1Malaysia Development Bhd (1MDB) affairs, the High Court heard on Monday.
(Economic Focus) New Zealand and Malaysia have agreed to expand their bilateral trade value by 50% by 2030, said New Zealand Prime Minister Christopher Luxon on Monday. - Bernama
KUALA LUMPUR (Sept 2): New Zealand and Malaysia have agreed to expand bilateral trade value by 50% by 2030, said New Zealand Prime Minister Christopher Luxon on Monday.
Coming soon! The Edge-HSBC New Era for Electrical and Electronics (E&E) Industry Forum 2024.
Register here to attend the online event: https://tinyurl.com/56t33dx4
(Hot Stock) Shares of Pansar Bhd (KL:PANSAR) rose on Monday to their highest in nearly three months, after the building materials company secured a RM804.7 million construction contract.
Shares of Pansar Bhd (KL:PANSAR) rose on Monday to their highest in nearly three months, after the building materials company secured a RM804.7 million construction contract.
(Sector Focus) The potential revival of the MRT 3 project, alongside revivals in other government infrastructure, point towards a better year for the construction sector going into FY2025, CGS International said.
KUALA LUMPUR (Sept 2): The potential revival of the MRT 3 project, alongside revivals in other government infrastructure, point towards a better year for the construction sector going into FY2025, CGS International said.
(Currency) Currency strategists have had a radical rethink on the trajectory of the yen in the wake of the Bank of Japan’s (BOJ) interest rate hike in July and the Federal Reserve’s (Fed) recent signalling of looming cuts in US borrowing costs. - Bloomberg
Currency strategists have had a radical rethink on the trajectory of the yen in the wake of the Bank of Japan’s (BOJ) interest rate hike in July and the Federal Reserve’s (Fed) recent signalling of looming cuts in US borrowing costs.
(Aviation) Following the network reduction announcement on Aug 24, Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines Bhd, said all necessary flight cancellations for August to December this year have been completed.
Following the network reduction announcement on Aug 24, Malaysia Aviation Group (MAG), the parent company of Malaysia Airlines Bhd, said all necessary flight cancellations for August to December this year have been completed.
(Sector Focus) Stable fossil fuel prices (ie gas and coal) will have a positive impact on Tenaga Nasional Bhd (KL:TENAGA) and Malakoff Corporation Bhd (KL:MALAKOF), according to a note by BIMB on Monday. However, BIMB stayed “neutral” on Gas Malaysia Bhd (KL:GASMSIA) and Petronas Gas Bhd (KL:PETGAS).
KUALA LUMPUR (Sept 2): Stable fossil fuel prices (ie gas and coal) will have a positive impact on Tenaga Nasional Bhd (KL:TENAGA) and Malakoff Corporation Bhd (KL:MALAKOF), according to a note by BIMB on Monday. However, BIMB stayed “neutral” on Gas Malaysia Bhd (KL:GASMSIA) and Petronas Gas Bhd...
(Sector Focus) CGS International kept its “overweight” call on banks, premised on the re-rating catalysts from further write-back in management overlay, improved outlook for net interest margin, and increases in banks’ dividend payout ratios.
KUALA LUMPUR (Sept 2): CGS International kept its “overweight” call on banks, premised on the re-rating catalysts from further write-back in management overlay, improved outlook for net interest margin, and increases in banks’ dividend payout ratios.
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Phillip Capital thinks Binastra can be a champagne supernova in the construction sector.
In today’s edition of Evening 5: • FGV CFO Mohd Hairul appointed as interim CEO as Nazrul Izam's contract expires • Malaysia Airlines says KL-Incheon flight MH66 encountered hydraulic issue • IRB seeks RM246m from DRB-Hicom for disposal of Alam Flora stake • Kenanga acquires 8% stake in Singaporean fintech firm Helicap • Penang-based Chemlite files for ACE Market IPO to raise funds for new facility
Mavcom today gave an update on the newly-gazetted Malaysian Aviation Consumer Protection Code 2016, saying that airlines will need to pay up for delays.
Transport Minister Anthony Loke Siew Fook gives an update on the final number of coaches that will be available for the KLIA aerotrain and the number of passengers it will be able to carry.
Transport Minister Anthony Loke Siew Fook says that the KLIA aerotrain is expected to resume operations by the end of January next year.
In The Edge Malaysia this week — our one-on-one interview with United Overseas Bank’s third generation leader Wee Ee Cheong.
[Branded] The ExChange – EMPOWER IS THE NEW POWER. Episode 2 FROM STOREFRONT TO FOREFRONT: DELIVERING NECESSITIES TO SHOPPERS & EMPLOYEES. In our second episode, we speak to Benjamin Yong, CEO of the BIG Group, and Lee Hui Jing, Co-founder of Bila-Bila Mart, weighing in on the importance of leadership in bagging success. The two leads exchange top-shelf ideas on how empowerment and teamwork takes them from the storefront, to the forefront. #BMWMalaysia #THEi5 #EmpowerIsTheNewPower
RHB thinks Tambun Indah’s sales could be almost paradise.
Officiated on Aug 30, 1957, Stadium Merdeka has stood the test of time as a witness of how far Malaysia has come. The stadium, which has been closed since 2016, has reopened and is ready to host a wide variety of recreational and cultural events.
According to CIMB Group’s captain Novan Amirudin, the bank will unveil its new targets once its Forward23+ plus plan wraps up this year.
CIMB Group says that it is ahead of schedule for its sustainability targets.
After a very public fine by Bank Negara earlier this month due to service disruptions, CIMB Group’s group CEO Novan Amirudin promises that there have been no compromise when it comes to tech spending.
CIMB Group’s group CEO Novan Amirudin says that the bank is optimistic of its growth prospects on the back of macroeconomic developments and the government’s moves to right-size the country’s financial position.
In today’s edition of Evening 5: • Chinese battery maker Zhuhai CosMX to invest RM1b to build plant in Kedah • CIMB Group 2Q net profit rises 11%, proposes special dividend • Listed companies no longer allowed to hold virtual-only general meetings next year • MSM wins deal to export grain sugar to China, aims to deliver 45,000 tonnes this year • Capital A says Asean currencies rebound to lift earnings after 2Q disappoints
TA Securities expects Supermax to turn around in FY25.
In today’s edition of Evening 5: • MAG cuts 20% of capacity to address operational issues • Genting Malaysia’s 2Q net profit spikes 75% • India’s Eros to invest US$1 bil in AI park, film studio • Hong Leong Bank wraps up FY2024 on a solid note • S’pore court bins BSI Bank’s bid to strike out 1MDB claim
Hong Leong Bank is upbeat on the prospects of its associate Bank of Chengdu.
Hong Leong Bank says its AI-powered voice bots will be further deployed in the coming financial year, helping the lender achieve meaningful improvements to its operational efficiency and customer experience.
HLIB thinks that RHB Bank will be able to roll with it.
In today’s edition of Evening 5: • New construction projects in KL suspended after sinkhole incidents • Govt to proceed with licensing of social media, internet messaging on Jan 1 • Airlines must fully refund passengers for delays of over five hours — Loke • Maybank's 2Q earnings rise 8.2% on lower provisions, tax expense • Axiata Group posts second straight quarterly profit of RM134.9 million
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