Money
Mavcom revokes Air Service Licence of My Jet Xpress Airlines
KUALA LUMPUR (May 16): The Malaysian Aviation Commission (Mavcom) has revoked the Air Service Licence (ASL) of scheduled air cargo operator My Jet Xpress Airlines Sdn Bhd. In a statement on Thursday, the regulator said this decision, effective from May 2, was a direct result of the Civil Aviation Authority of Malaysia (CAAM) revoking My Jet’s Air Operator Certificate (AOC) No. 40. It said the revocation of the ASL by the Commission is in...
MoneyDKSH's 1Q net profit rises 9% to RM40m
KUALA LUMPUR (May 16): DKSH Holdings (Malaysia) Bhd's (KL:DKSH) net profit rose 9.2% to RM40.45 million for the first quarter ended March 31, 2024 (1QFY2024) from RM37.03 million a year ago, on the back of a 5.6% jump in revenue to RM2.07 billion from RM1.96 billion previously. In a filing with the local bourse on Thursday, the market expansion services provider attributed the better bottom line and top line to strong sales from existing clients...
MoneyAEON shares jump to 20-month high after 50% surge in 1Q net profit
KUALA LUMPUR (May 16): Shares of AEON Co (M) Bhd (KL:AEON) surged to their highest in 20 months after the department store and mall operator reported a 50% jump in first-quarter net profit. AEON rose as much as 16% to RM1.39, its highest since September 2022. At 9.30am, the stock was trading at RM1.31, still up 11 sen or 9%, after more than 6.4 million shares changed hands. The counter was also more active than usual with trading volume at four...
MoneyBNM: Malaysia taking steps to strengthen anti-money laundering, counter-terror laws
KUALA LUMPUR (May 16): Malaysia is taking steps to strengthen its regime on anti-money laundering, and the countering of financing terrorism and the proliferation of weapons of mass destruction (AML/CFT/CPF), the central bank said. A new National Coordination Committee to Counter Money Laundering Roadmap is currently being developed, which will outline key initiatives in the areas of investigation, enforcement, coordination and capacity...
MoneyMAHB shares fall as investors cautious about privatisation deal
KUALA LUMPUR (May 16): Shares in Malaysia Airports Holdings Bhd (KL:AIRPORT), or MAHB, did not fare well on Thursday, folllowing news of a privatisation offer at RM11 per share led by a consortium of its major shareholder Khazanah Nasional Bhd and the Employees Provident Fund (EPF). MAHB’s share price fell 2.88% or 30 sen on Thursday morning to a low of RM10.10. At 11.54am, the stock was trading at RM10.20, giving it a market capitalisation of...
MoneyRebranded Binastra charts new all-time high since listing in 2004
KUALA LUMPUR (May 14): Binastra Corp Bhd (KL:BNASTRA), formerly known as Comintel Corp Bhd, charted a new all-time high and emerged among the top gainers on Bursa Malaysia during Tuesday’s morning trading session. Shares in Binastra surged as much as 27 sen or 15.9% to RM1.97, their highest since listing in August 2004. The stock pared some gains to settle at RM1.88 at the market’s noon break, still up 18 sen or 10.6% from its previous close,...
MoneyPTT Synergy shares soar to over two-decade high on contract news
KUALA LUMPUR (May 14): Shares of PTT Synergy Group Bhd (KL:PTT) soared on Tuesday to their highest in nearly 24 years after the construction company announced two contracts worth a total of RM169.85 million. PTT rose as much as 21% or 33 sen to RM1.90, its highest since August 2000. At 9.10am, the stock was trading at RM1.86, valuing the company at RM338 million on Bursa Malaysia and adding to Monday’s 27% gain ahead of the contract...
MoneyUzma wins three-year contract from ExxonMobil
KUALA LUMPUR (May 14): Uzma Bhd (KL:UZMA) has secured a letter of award from ExxonMobil Exploration Production Malaysia Inc for non-rig assisted electric wireline logging equipment and services in West Malaysian waters. In a bourse filing on Tuesday, Uzma said its wholly owned subsidiary Uzma Engineering Sdn Bhd was awarded with the three-year contract effective from May 3, 2024 to May 2, 2027. The oil and gas service provider did not disclose...
MoneyBrokers Digest: Local Equities - Rubber products, Nestlé (Malaysia) Bhd, Unisem (M) Bhd, Axiata Group Bhd
This article first appeared in Capital, The Edge Malaysia Weekly on May 6, 2024 - May 12, 2024 Rubber products OVERWEIGHT RHB RESEARCH (APRIL 30): The industry’s demand-supply dynamics are showing signs of recovery, as order volumes for April and May seem to have picked up meaningfully. Further normalisation in gas tariff, coupled with stabilisation of average selling prices (ASPs), can eventually propel glove makers’ profitability in 2024....
MoneyZTE spearheads Malaysia's 5G revolution with "Unfolding the Intelligent Future 2024" event and Malaysia Books of Record Fastest 5G-A live trial Award.
ZTE successfully showcased its 5G innovations at the "Unfolding the Intelligent Future 2024" event, highlighting its commitment to Malaysia's digital transformation The Malaysia Books of Records acknowledged ZTE's record-breaking 5G-A Live Trial at 28Gbps, celebrated with representatives from MCMC, ZTE, TM, and DNB present as witnesses during the event. Through collaboration, ZTE is actively building a robust 5G network in Malaysia, addressing...
MoneyAncom Nylex to decarbonise via RTO of Ancom Logistics
This article first appeared in The Edge Malaysia Weekly on May 6, 2024 - May 12, 2024 THE reverse takeover (RTO) of Ancom Logistics Bhd by Green Lagoon Technology Sdn Bhd, a company that is involved in the development of palm oil mill effluent (POME) anaerobic lagoon biogas-to-power projects, will result in the total decarbonisation of the former’s holding company Ancom Nylex Bhd. This is because upon completion of the takeover of Green Lagoon...
MoneyAllianz Malaysia declares interim dividend of 26.5 sen
KUALA LUMPUR (May 13): Life and general insurance provider Allianz Malaysia Bhd (KL:ALLIANZ) has declared a first interim dividend of 26.5 sen per share for the financial year ending Dec 31, 2024 (FY2024). This is five sen lower than the 31.5 sen per share the group declared a year earlier. The dividend’s ex-date is May 28, and it is payable on June 12, according to the group filing with Bursa Malaysia on Monday. Allianz previously paid a...
MoneyPTT Synergy, Sime Darby Property, Telekom Malaysia, Aurelius Technologies, AME Elite, Mulpha International, Uzma, Dialog, GuocoLand, Swift Haulage, PA Resources
KUALA LUMPUR (May 14): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday: PTT Synergy Group Bhd (KL:PTT) has secured two contracts worth a total of RM169.85 million from Sime Darby Property Bhd (KL:SIMEPROP). The first is a RM96.61 million contract for the proposed construction and completion of earthworks and ancillary works for Stage 1 (Section 1 and Section 2) at Lagong Mas, Gombak,...
MoneyAl Rajhi Bank Malaysia names former CIMB exec Mohd Syahrul Ishak as CEO
KUALA LUMPUR (May 13): Al Rajhi Banking & Investment Corporation (Malaysia) Bhd has named Mohd Syahrul Ishak as chief executive officer (CEO) effective Monday. Mohd Syahrul, a former executive of CIMB Bank, will take over the lead from Muhammed Uzman Muhammed Faleel, its chief risk officer who stepped up as interim chief executive officer following the resignation of Arsalaan Ahmed, Al Rajhi Malaysia said in a statement. More to come
MoneyMAHB to name Mohamed Rastam as permanent CEO soon, sources say
KUALA LUMPUR (MAY 14): Malaysia Airports Holdings Bhd (KL:AIRPORT), also known as MAHB, is ready to have Mohamed Rastam Shahrom at the helm at the airport operator permanently after seven months as acting group chief executive officer, say sources. Sources told The Edge that MAHB will soon announce Mohamed as the next group CEO. "A company cannot be without a CEO for too long," said one of the sources. Mohamed was appointed as MAHB's acting CEO...
MoneyPTT Synergy secures two earthworks contracts from Sime Darby Property worth RM169.85 mil
KUALA LUMPUR (May 13): Integrated construction and property firm PTT Synergy Group Bhd (KL:PTT) has secured two contracts worth a total of RM169.85 million from Sime Darby Property Bhd (KL:SIMEPROP). The first is a RM96.61 million contract for the proposed construction and completion of earthworks and ancillary works for Stage 1 (Section 1 and Section 2) at Lagong Mas, Gombak, Selangor. The group, via its wholly-owned Pembinaan Tetap Teguh Sdn...
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