Markets

KJTS receives approval to list on ACE Market

KUALA LUMPUR: KJTS Group Bhd has received approval from Bursa Malaysia Securities Bhd to list on the ACE Market of Bursa Malaysia.

Corporate News

KLK reports lower FY23 net profit of RM834.25mil

KUALA LUMPUR: Kuala Lumpur Kepong Bhd (KLK) reported a lower net profit of RM834.25 million for its financial year ended Sept 30, 2023 (FY2023) compared with RM2.16 billion in the same period a year ago.

Corporate News

Batu Kawan 4Q net profit tumbles 76% to RM52.7mil

KUALA LUMPUR: Batu Kawan Bhd, which saw its net profit tumble 76.3% to RM52.7mil in the fourth quarter ended Sept 30 (4Q), is cautiously optimistic of its prospects for the financial year 2024 (FY24).

Corporate News

Sam Engineering to buy Aviatron, proposes rights issue

KUALA LUMPUR: Sam Engineering & Equipment (M) Bhd (Samee) has proposed to acquire the entire equity interest in Aviatron (M) Sdn Bhd from Singapore Aerospace Manufacturing Pte Ltd for US$43.40 million (US$1=RM4.66) cash.

Corporate News

Boustead Plantations returns to the black in 3Q with RM15mil profit

KUALA LUMPUR: Boustead Plantations Bhd (BPlant) aims to costs, boost productivity through mechanisation, and replant less productive oil palm stands to counter potential risks in the palm oil market.

Markets

Bursa Malaysia ends lower on broad-based selling

KUALA LUMPUR: The FBM KLCI slipped again on Wednesday as buying interest remained tepid.

Corporate News

Hibiscus Petroleum posts higher net profit of RM154.3mil in 1Q24

KUALA LUMPUR: Hibiscus Petroleum Bhd recorded a higher net profit of RM154.29 million in the first quarter ended Sept 30, 2023 for the financial year ending June 30, 2024 (1Q FY2024), from RM135.26 million in the corresponding quarter of FY2023.

Banking

Bank Negara's international reserves rise to US$110.5bil

KUALA LUMPUR: Bank Negara’s international reserves amounted to US$110.5bil as at Nov 15, up from US$108.5bil as at Oct 31.

Economy

Malaysia has implemented 16 FTAs, 62 bilateral IGAs to date - Tengku Zafrul

KUALA LUMPUR: Malaysia has implemented 16 free trade agreements (FTAs) and 62 bilateral investment guarantee agreements (IGAs) to date, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

Energy

Oil prices stall ahead of U.S. stocks data, potential OPEC+ cuts

OIL prices barely moved during Asian trade on Wednesday as the market awaited potentially mixed news on the supply front, with the OPEC+ producers group expected to discuss output cuts and U.S. crude stocks forecast to show a big build-up.

Markets

Asia stocks slip, dollar sell-off eases as dovish Fed cheer fades

SINGAPORE: Asian stocks backed away from 2-1/2-month highs on Wednesday and the dollar found support as investors' tempered some of their earlier enthusiasm about the prospect of an end to U.S. interest rate hikes.

Corporate News

E&O posts jump in 2Q net profit to RM29.73mil

KUALA LUMPUR: Eastern & Oriental Bhd (E&O) says the property market is showing promising signs of growth, leading to cautious optimism that it will bolster group earnings.

Energy

Middle East turbulence has spared oil fundamentals, but escalation a different ball game

OIL has witnessed some volatile sessions amid worries about supply disruptions since the Israel-Hamas conflict started, but the way the market has behaved for most of the period shows that any impact on fundamentals would largely be limited, unless the situation escalates.

Corporate News

MISC's 3Q net profit falls to RM430.4mil, declares 7c div/share

KUALA LUMPUR: MISC Bhd is positive over prospects in the LNG shipping market due to growing global LNG demand and additional LNG infrastructure investments, which further support growth.

Banking

Maybank records net profit of RM2.36bil in 3Q on income growth, lower provisions

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has turned in another solid quarter, underpinned by steady income growth and a significant improvement in net impairment provisions.

Banking

AmBank optimistic on FY24 after solid first half

KUALA LUMPUR: AMMB Holdings Bhd (AmBank) logged an improved performance in the first half of its 2024 financial year (FY24) as it navigated a challenging external environment in the second quarter of 2023.

Markets

Bursa seen consolidating as investor appetite sours

KUALA LUMPUR: As confidence the US central bank had ended its rate hikes faded, Asian markets eased away from recent highs to brace for what cold be further monetary tightening.

Economy

Singapore economy forecast to grow 1-3% in 2024

SINGAPORE: The Singapore economy is expected to grow by 1.0 to 3.0 per cent in 2024 after taking into account global factors and barring the materialisation of downside risks, according to the republic’s Ministry of Trade and Industry (MTI).

Forex

Ringgit retreats vs US$ in early trade

KUALA LUMPUR: The ringgit retreated from two consecutive days of gains to open lower against the US dollar on Wednesday due to the lack of interest in the local currency as market sentiments remain uncertain.

Economy

Singapore's Q3 GDP tops initial estimates on financial services, tourism

SINGAPORE: Singapore's economy grew faster than initial estimates in the third quarter, helped by a resurgence in tourism and service sector activity, although authorities warned of risks to the outlook from inflation and geopolitics.