Economy

China lowers benchmark lending rates for first time since October

SHANGHAI: China cut benchmark lending rates for the first time since October on Tuesday, after Beijing announced sweeping monetary easing measures earlier this month to support the broad economy.

Markets

Malaysian stocks seen consolidating as corporate earnings trickle in

KUALA LUMPUR: Malaysia's main stock index traded sideways after a sharp dip in the previous session in light of the mildly positive performance in the US market overnight.

Forex

Ringgit opens slightly lower against greenback ahead of Fed rate decision

KUALA LUMPUR: The ringgit opened marginally lower against the US dollar on Tuesday as traders remained cautious ahead of a possible interest rate cut by the United States Federal Reserve (Fed), an analyst said.

Corporate News

Trading ideas: Maybank, KAB, Ibraco, PeterLabs, MCE, Euro, MFM, Johor Plantations, Taliworks, Keyfield, George Kent

KUALA LUMPUR: Here is a recap of the announcements that made headlines in Corporate Malaysia.

Commodities

Oil edges lower as US and China growth concerns weigh

LONDON: Oil inched lower on Monday, weighed down by Moody's downgrade of the U.S. sovereign credit rating and official data that showed slowing growth in China's industrial output and retail sales.

Markets

Treasury yields rise, dollar down amid fiscal concerns after US downgrade

NEW YORK: Longer-dated Treasury yields gained while the dollar broadly eased on Monday amid concerns about the U.S. debt load and a tax-cut bill, following Moody's downgrade of the country's sovereign credit rating.

Markets

The LEAP Market’s eight-year journey: Milestones, challenges, and the road ahead

Time for a strategic reset to build tomorrow's champions

Investment

PNB hits record income, RM14.5bil bonus payout

PETALING JAYA: Permodalan Nasional Bhd (PNB) delivered a record income and bonus distribution of RM14.5bil to unitholders for its 18 fixed price funds (FP) and variable-price (VP) funds last year.

Corporate News

George Kent makes significant leap in profit

PETALING JAYA: George Kent (M) Bhd, which returned to the black with a RMRM18.97mil net profit in the fourth quarter ended March 31, 2025 (4Q25) will continue to focus on expanding into new markets and drive innovation across its business segments.

Markets

Unauthorised trades resolved, says Bursa

PETALING JAYA: Bursa Malaysia has announced that the unauthorised trades that took place on April 24 have been resolved and that the affected investors will not incur losses.

Banking

Maybank inks LoI to facilitate JS-SEZ deals

KUALA LUMPUR: Malayan Banking Bhd (Maybank) has signed a letter of intent (LoI) with the Economy Ministry to support the Johor-Singapore Special Economic Zone (JS-SEZ) and facilitate up to RM2.35bil in client investments over the next three to 10 years.

Corporate News

Gamuda eyes continuing growth in Klang Valley

PETALING JAYA: Gamuda Bhd's proposed acquisition of 336 acres of land in Kuala Langat, Selangor, for RM248.7mil will serve as a strategic extension to the group's Gamuda Cove township, which has a current remaining gross development value (GDV) of RM18.7bil.

Corporate News

Johor Plantations steady after 52% rise in 1Q profit

PETALING JAYA: Johor Plantations Group Bhd remains confident on its outlook despite short-term pressures on crude palm oil (CPO) prices.

Corporate News

Kinergy Advancement wins Labuan job

PETALING JAYA: Kinergy Advancement Bhd (KAB) has secured a contract from Rancha Power Sdn Bhd (RPSB) for the provision of engineering, procurement, construction and commissioning services for a 120MW power plant facility in Labuan, worth RM646.32mil.

Corporate News

Malayan Flour Mills FY25 capex at RM215mil

KUALA LUMPUR: Malayan Flour Mills Bhd (MFM) has allocated RM215mil in capital expenditure (capex) for the financial year ending Dec 31, 2025 (FY25).

Corporate News

Peterlabs files MACC report against director

PETALING JAYA: Peterlabs Holdings Bhd has lodged a formal report with the Malaysian Anti-Corruption Commission (MACC) against its executive director, Datuk Loh Saw Foong.

Banking

Affin Bank cautious yet confident amid volatility

PETALING JAYA: Affin Bank Bhd recorded double-digit year-on-year (y-o-y) growth in pre-tax profits to RM178.2mil for its first quarter ended March 31, 2025 (1Q25).

Auto

Bridging the infrastructure gaps

KUALA LUMPUR: While Malaysia's ambition to become a regional hub for electric vehicles (EVs) is boldly stated, key infrastructure gaps, logistics inefficiencies and cross-border challenges must still be addressed to realise this vision, according to Malaysia Automotive, Robotics and IoT Institute (MARii).

Corporate News

Heavy equipment set to be a boon for Sime Darby

PETALING JAYA: Sime Darby Bhd's unit Sime Darby Industrial (SDI) is emerging as a key growth engine, fuelled by its strong performance in Australia, rising capital expenditure in mining, strategic commodities diversification and growing contribution from high-margin after sales and rental services.

Corporate News

SimeProp’s industrial properties to lift earnings

PETALING JAYA: Sime Darby Property Bhd (SimeProp) has achieved 100% take-up for the latest instalment of its linked homes in The Nine, Elmina Green, development located in Shah Alam, Selangor.