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Forex

Ringgit eases slightly against greenback ahead of Bank Negara’s OPR decision

KUALA LUMPUR: The ringgit ended slightly lower against the US dollar at Wednesday's close ahead of Bank Negara Malaysia's (BNM) overnight policy rate (OPR) decision tomorrow, said an analyst.

Corporate News

99 Speedmart receives Malaysia’s first fully electric Foton trucks

KUALA LUMPUR: 99 Speed Mart Sdn Bhd took delivery of Malaysia's first fully electric Foton eAumark light-duty trucks today, receiving 10 units from Angka-Tan Motor Sdn Bhd in a handover ceremony, marking a step toward a cleaner, more efficient logistics fleet.

Banking

Affin gets A3 rating with stable outlook from Moody's

KUALA LUMPUR: Affin Group has received its first international credit rating of A3 with a stable outlook from Moody's Ratings.

Markets

Bursa Malaysia to close on May 12 for Wesak Day holiday

KUALA LUMPUR: Bursa Malaysia and its subsidiaries will be closed on May 12, in conjunction with the Wesak Day public holiday.

Markets

Securities Commission charges businessman for defrauding investors of RM3.16mil

PETALING JAYA: The Securities Commission Malaysia (SC) has charged Razrul Anwar Rusli, 44, at the Kuala Lumpur Sessions Court for defrauding five investors of RM3.159mil for fictitious investments.

Markets

FBM KLCI snaps losing streak, ends at intraday high ahead of OPR decision

KUALA LUMPUR: The FBM KLCI ended its losing streak and closed at its intraday high on Wednesday, supported by buying interest in heavyweight counters ahead of Bank Negara's overnight policy rate (OPR) decision.

Business

US could announce trade deals with some countries this week

WASHINGTON: U.S. Treasury Secretary Scott Bessent on Tuesday said the Trump administration could announce trade agreements with some of the United States' largest trade partners as early as this week, but gave no details on which countries were involved.

Economy

Bessent says US data not showing recession, expects Q1 data to be revised upwards

WASHINGTON: U.S. Treasury Scott Bessent on Tuesday said there was nothing in U.S. economic data which showed that the American economy was currently in a recession, despite a contraction in the first quarter gross domestic product (GDP).

Markets

Pan Merchant inks underwriting agreement for ACE Market listing

KUALA LUMPUR: Pan Merchant Bhd has signed an underwriting agreement with Affin Hwang Investment Bank Bhd as part of its initial public offering (IPO) exercise on the ACE Market of Bursa Malaysia Securities Bhd.

Energy

Oil rises as market eyes US-China trade talks, lower US output

SINGAPORE: Oil prices rose on Wednesday, holding slightly above recent four-year lows, as investors focused on U.S.-China trade talks and signs of lower U.S. production.

Markets

ACE Market-bound PMCK inks underwriting agreement with Malacca Securities

KUALA LUMPUR: PMCK Bhd has inked an underwriting agreement with Malacca Securities Sdn Bhd for its initial public offering (IPO) on the ACE Market of Bursa Malaysia Securities Bhd, scheduled for the third quarter of 2025.

Markets

Asian shares, currencies rally on U.S.-China trade hopes

Asian shares rose and regional currencies rebounded on Wednesday, lifted by hopes that an upcoming high-level U.S.-China meeting later in the week could ease trade tensions.

Economy

China agrees to engage with US over tariff

CHINA has agreed to engage with the United States on tariff issues, after the White House signaled the possibility of adjusting its tariff policies and proactively reached out to Beijing through various channels, the Ministry of Commerce said on Wednesday.

Corporate News

I-Bhd reports net profit jump to RM9.96mil in 1Q

KUALA LUMPUR: I-Bhd executive chairman Tan Sri Lim Kim Hong in delivering the group's report for the first-quarter of 2025 (1QFY25), said the company's strong start reflects its evolution into a more balanced, asset-driven business.

Markets

Bursa Malaysia ends morning session higher

KUALA LUMPUR: Bursa Malaysia ended the morning session higher today on persistent buying in selected heavyweights, in line with positive momentum on the regional market, a dealer said.

Plantations

SD Guthrie's 1Q net profit leaps to RM567mil

KUALA LUMPUR: SD Guthrie Bhd, formerly known as Sime Darby Plantation Bhd, delivered a strong first-quarter (1QFY25) result on the back of improved contribution from the upstream segment.

Economy

Malaysia imposes anti-dumping duties on PET polymer imports from China, Indonesia

KUALA LUMPUR: Malaysia has imposed definitive anti-dumping duties on imports of Polyethylene Terephthalate (PET) from China (from 2.29 per cent to 11.74 per cent), and Indonesia (37.44 per cent), effective today.

Aviation

Capital A targets Saudi expansion with new AirAsia routes, logistics plans

KUALA LUMPUR: Capital A Bhd today announced plans to expand into Saudi Arabia, with new AirAsia routes to Riyadh and Dammam and more Kuala Lumpur-Jeddah flights, marking a key step in its Middle East growth strategy.

Economy

China central bank governor says will cut banks' reserve requirement ratio

BEIJING: China's central bank governor said on Wednesday the bank would cut the amount of cash that banks must hold as reserves by 50 basis points, the first reduction in 2025 as policymakers seek to support the economy amid a protracted trade war with the United States.

Banking

UOB's first-quarter net profit stable on year, misses expectations

SINGAPORE: Singapore's United Overseas Bank reported on Wednesday S$1.49 billion ($1.16 billion) in net profit for the first quarter, flat from a year earlier, due to factors including record fee income and robust loan growth.