Corporate News

Southern Cable’s 2Q profit more than doubles to RM31.6mil

KUALA LUMPUR: Southern Cable Group Bhd's outlook for the financial year ending Dec 31, 2025 (FY25) remains positive, supported by a healthy order book, resilient product portfolio and firm market demand.

Corporate News

Bank Islam registers RM253mil net profit in 1H25

PETALING JAYA: Bank Islam Malaysia Bhd, which recorded a year-on-year (y-o-y) decline of 5.9% in net profit to RM253mil for the six months ended June 30, 2025 (1H25) is streamlining its operations by removing redundancies and consolidating resources for greater efficiency.

Corporate News

Lay Hong’s 1Q net profit slips 16.6% to RM11.2mil

KUALA LUMPUR: Lay Hong Bhd expects steady performance ahead after egg subsidies ended on Aug 1, and controlled prices are set to ease by the end of August.

Forex

Ringgit ends higher vs greenback on possible US rate cut in September

KUALA LUMPUR: The ringgit ended higher against the US dollar on Monday, driven primarily by the United States Federal Reserve (Fed) chair Jerome Powell's dovish Jackson Hole speech, which signalled a possible interest rate cut in September.

Corporate News

MFM posts 49% profit jump in 2Q, declares 1.5 sen dividend

KUALA LUMPUR: Malayan Flour Mills Bhd (MFM), which posted a 49% jump in net profit for the second quarter ended June 30, is optimistic about its outlook for the rest of the year despite challenges in Indonesia.

Corporate News

Gamuda JV bags RM1.13bil Sarawak highway contract

KUALA LUMPUR: Gamuda Bhd's 30%-owned associate company, Naim Gamuda (NAGA) JV Sdn Bhd (NAGA), has secured a RM1.13bil contract from the Regional Corridor Development Authority (Recoda) for the development of the Northern Coastal Highway in Sarawak.

Corporate News

Allianz posts higher 2Q net profit of 214.04 mln

KUALA LUMPUR: Allianz Malaysia Bhd posted a higher net profit of RM214.04 million during the second quarter ended June 30, 2025 (2Q 2025), compared to RM167.01 million in the same quarter of the preceding year.

Markets

Bursa Malaysia to close on Sept 1, 5, 15 and 16 for public holidays

KUALA LUMPUR: Bursa Malaysia Bhd and its subsidiaries will be closed on several dates in September 2025 for upcoming public holidays.

Corporate News

Haily bags RM50mil subcontract for Johor housing project

KUALA LUMPUR: Haily Group Bhd's wholly-owned unit, Haily Construction Sdn Bhd, has secured a RM50.08mil subcontract from Mandy Corporation Sdn Bhd, a subsidiary of Gadang Holdings Bhd.

Markets

FBM KLCI surges past 1,600 psychological level; Magma tumbles 30%

KUALA LUMPUR: The FBM KLCI crossed the 1,600 mark after three straight gains, while the ringgit strengthened to RM4.2035 amid regional markets hitting record highs.

Corporate News

Thomson Medical unveils RM18bil Johor waterfront project

PETALING JAYA: Thomson Medical Group (TMG) has unveiled plans for a massive waterfront development in Johor Bahru, with a projected gross development value (GDV) of over RM18bil.

Energy

Oil prices climb after Ukraine attacks hit Russian energy sites

OIL prices rose on Monday after Ukraine stepped up attacks on Russia, fanning concerns Russian oil supply could be disrupted, while expectations for a cut in U.S. interest rates buoyed the outlook for global growth and fuel demand.

Energy

PETRONAS says it will continue talks with Petros after court case adjourned

KUALA LUMPUR: A Malaysian court has granted a request by national energy firm PETRONAS and the Sarawak state-run company Petros for an adjournment in a case involving a dispute over gas rights in the state, Petronas said on Monday.

Forex

Ringgit, Taiwan stocks lead Asian markets rally after Powell speech

ASIAN currencies and stocks advanced on Monday, led by Malaysia's ringgit and Taiwan's benchmark stock index, after Federal Reserve Chair Jerome Powell's dovish Jackson Hole speech boosted investor appetite for riskier regional assets.

Corporate News

Cheeding signs underwriting deal with TA Securities for ACE Market IPO

KUALA LUMPUR: Cheeding Holdings Bhd, a utilities engineering solutions provider, has signed an underwriting agreement with TA Securities Holdings Bhd for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.

Corporate News

MSM Malaysia braces for tough 2025 sugar industry challenges

KUALA LUMPUR: MSM Malaysia Holdings Bhd expects the sugar industry to remain challenging in 2025, amid high input costs and volatile raw sugar prices driven by global supply fluctuations, according to acting group CEO Hasni Ahmad.

Corporate News

MISC net profit narrows to RM464.40mil in 2Q25

KUALA LUMPUR: MISC Bhd's net profit for the second quarter ended June 30, 2025 (2Q 2025), declined to RM464.40 million from RM540.90 million in the same period last year.

Business

Innovation key to cultivation of growth drivers

CHINA's commitment to cultivating new quality productive forces through scientific and technological innovation, as reiterated by President Xi Jinping, will help the country gain a competitive edge in strategic emerging fields and tech frontiers, and contribute to global economic growth, said experts and company executives.

Corporate News

Magma confirms chairman assisting MBI investigation

KUALA LUMPUR: Magma Group Bhd has clarified in a statement that its group executive chairman, Datuk Sri Lee Hock Seng, is assisting an investigation by the authorities into the MBI scandal.

Corporate News

Hextar Global anticipates sustained growth in agriculture segment in 2H

KUALA LUMPUR: Hextar Global Bhd expects to build on the growth momentum of its agriculture segment in the second half of 2025 following a challenging first six months of the year.