Corporate News

Sunway Healthcare unit acquires Iskandar Puteri land for RM45.37mil

KUALA LUMPUR: Sunway Healthcare Holdings Bhd (SHH) said its 99.9%-owned subsidiary, Sunway Medical Centre Sdn Bhd (SMC), has proposed to acquire four parcels of freehold land in Sunway City Iskandar Puteri in Pulai, Johor Bahru, measuring about 9.918 acres, for RM45.37mil.

Corporate News

Air Selangor prices world's first blue sukuk at RM200mil

KUALA LUMPUR: Pengurusan Air Selangor Sdn Bhd has successfully priced the world's first blue sukuk and Malaysia's first blue bond/sukuk issuance, with a nominal value of RM200 million.

Insurance

Bank Negara plans to set up governance framework to keep MediAsas sustainable and affordable

KUALA LUMPUR: Bank Negara Malaysia (BNM) plans to set up a governance framework to ensure that MediAsas, Malaysia's base medical and health insurance and takaful (MHIT) product, remains affordable and sustainable over the long term amid rising healthcare costs.

Commodities

Oil rises as US-Iran tension escalates after Iraq strikes, missile attack

LONDON: Oil prices jumped more than 4% on Wednesday as tensions in the Middle East escalated following U.S. and Saudi strikes in Iraq and an intercepted Iranian missile attack on U.S. forces, while U.S. crude inventories fell. Brent futures rose $3.72, or 4.4%, to $87.81 a barrel by 1025 GMT. U.S. West Texas Intermediate (WTI) crude gained $3.43, or 4.3%, to $82.69 a barrel.

Auto

BMW to cut several thousand jobs in latest blow to German auto sector

BERLIN: BMW said on Wednesday it will cut several thousand jobs in Germany by the end of 2027 under a voluntary redundancy programme, the latest German carmaker to axe staff in response to squeezed profits and weak demand.

Forex

Ringgit edges higher against US$ as investors await FOMC outcome

KUALA LUMPUR: The ringgit closed marginally higher against the US dollar on Wednesday as investors remained on the sidelines ahead of the outcome of the United States Federal Open Market Committee's (FOMC) meeting.

Corporate News

Petra Energy unit to dispose of two work barges for RM61.31mil

KUALA LUMPUR: Petra Energy Bhd's wholly-owned subsidiary Petra Marine Sdn Bhd has proposed to dispose of two accommodation work barges for a combined value of RM61.31mil to monetise non-performing assets within the group.

Markets

Selective buying of defensive stocks lifts Bursa Malaysia higher at close

KUALA LUMPUR: Bursa Malaysia rebounded to close higher on Wednesday on selective buying of defensive stocks after a volatile trading session.

Corporate News

Chin Teck optimistic of satisfactory year despite volatile CPO prices

KUALA LUMPUR: Chin Teck Plantations Bhd is looking forward to satisfactory results for FY26 despite volatile crude palm oil prices (CPO) caused by geopolitical conflict in the Middle East.

Corporate News

Econpile bags RM39.52mil construction job

KUALA LUMPUR: Econpile Holdings Bhd said its wholly-owned subsidiary Econpile (M) Sdn Bhd has secured a RM39.52mil contract from WCT Construction Sdn Bhd to undertake the earthworks, bored piling and sub-structure works for a proposed commercial development in KL.

Corporate News

Semico inks JV to set up family entertainment outlet in Pavilion Bukit Jalil

KUALA LUMPUR: Family entertainment product and service provider Semico Capital Bhd has entered into a joint venture with Chan Kean Seng (CKS) to establish and operate a new family entertainment outlet at Pavilion Bukit Jalil shopping mall.

Banking

Alliance Bank targets 7.5-10% loan growth for FY27

KUALA LUMPUR: Alliance Bank Malaysia Bhd expects loan growth of between 7.5 per cent and 10 per cent for the financial year ending March 31, 2027 (FY2027), including contributions from its unsecured banking segment.

Corporate News

China's Midea, 99 Speed Mart collaborate to expand home appliance network

SHAH ALAM: China's smart home appliance manufacturer Midea Group (Midea) and 99 Speed Mart Sdn Bhd (99 Speed Mart) today announced a strategic collaboration to expand the availability of quality, energy-efficient home appliances across more than 3,100 branches of the latter's retail chain nationwide.

Corporate News

PETRONAS to extend long-term LNG supply deal with Hokuriku Electric

KUALA LUMPUR: PETRONAS LNG Ltd (PLL), a subsidiary of Petroliam Nasional Bhd (PETRONAS), has signed a heads of agreement (HOA) with Hokuriku Electric Power Company to negotiate and conclude the renewal of a long-term Liquefied Natural Gas (LNG) supply agreement.

Markets

Bursa Malaysia's key index slightly higher at midday

KUALA LUMPUR: Bursa Malaysia's key index was slightly higher at midday, with buying interspersed with selling in selected heavyweights amid a mostly weaker regional performance.

Markets

South Korea stock rout breaks records as SK Hynix earnings disappoint

SINGAPORE/SEOUL: South Korean stocks plunged for a second straight session on Wednesday as Asia's sparkling AI-fuelled rally turns into a record-breaking rout that is torching small investors.

Markets

Asian stock rout deepens as AI worries grip markets

SINGAPORE: Asian stocks sank on Wednesday, extending a vicious selloff as anxiety about AI valuations and whether the massive spending will deliver returns rattled investors ahead of crucial earnings from big tech firms and a U.S. Federal Reserve policy decision.

Corporate News

PNB tops GSR Scoreboard in Malaysia, ranks 4th globally

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) was once again the top ranked Malaysian institution in the 2026 Governance, Sustainability and Resilience (GSR) Scoreboard published by Global SWF.

Banking

UBS logs forecast-beating quarterly profit, flags US$3bil in new buybacks by end-June

ZURICH: UBS booked a 17% jump in second-quarter profit on Wednesday, ahead of expectations, and said it plans to buy back shares worth $3 billion by the middle of next year at the latest.

Economy

Malaysia's nominal GDP at RM2.03 trillion in 2025, employees' compensation up 33.9% - DOSM

PUTRAJAYA: Malaysia's nominal Gross Domestic Product (GDP) expanded 4.8 per cent to RM2.03 trillion in 2025 with Compensation of Employees (CE) accounting for 33.9 per cent of GDP, up from 33.6 per cent in 2024.