The Ministry of Communications’ meeting with Meta Platforms Inc and representatives of other social media platforms scheduled to be held in Singapore next month will discuss, among others, the Madani government’s commitment to combating fake news and disinformation.

Fahmi says meeting with Meta in Singapore next month to combat fake news, disinformation

KUALA LUMPUR (May 30):  theedgemalaysia.com highlighted three stocks with positive momentum and four stocks with negative momentum at Bursa Malaysia's afternoon close on Thursday.  

The stocks with positive momentum were:

    IJM Corp Bhd (KL:IJM) — up...

IJM, Mahsing, WCT, Catcha, PTRB, Sealink, Salcon

The tragic crash involving two Royal Malaysian Navy (RMN) aircraft on April 23 was mainly caused by the Fennec helicopter deviating from its designated altitude and course, and entering the flight path of the AW139 helicopter, according to the board of inquiry's findings.

Lumut copter crash mainly due to Fennec going off course, says RMN chief

The net profit of Bintulu Port Holdings Bhd (KL:BIPORT), the operator of East Malaysia’s largest container port, nearly doubled in the first quarter, driven by higher revenue contribution from both port operations and bulking services.

Bintulu Port's 1Q net profit doubles to RM45m, declares three sen dividend

Businesses are expecting a favourable environment in the second quarter of 2024 (2Q2024), backed by a marginal positive confidence indicator of 0.7%, compared with 4.2% in the previous quarter, the Department of Statistics Malaysia (DOSM) said.

Businesses expect favourable environment in 2Q, says DOSM

KUALA LUMPUR (May 30): OSK Holdings Bhd’s (KL:OSK) net profit for the first quarter ended March 31, 2024 (1QFY2024) rose 10% to RM122.93 million from RM115.09 million, on the back of a 10% rise in revenue to RM367.94 million, versus RM333.20 million.

OSK’s 1Q earnings rise 10% to RM122.93m

Water and power supply remain a major challenge in Johor, despite the southernmost state in Peninsular Malaysia experiencing a boom in data centres due to its proximity to Singapore and the spillover effects of the US-China trade war, according to Johor Bahru city council (MBJB) Mayor Datuk Mohd Noorazam Osman.

Water, power remain major issues for Johor’s data centres, says JB mayor

Hong Leong Bank Bhd (KL:HLBANK), the banking arm of tycoon Tan Sri Quek Leng Chan, said on Thursday its net profit rose 12% year-on-year (y-o-y) in the third quarter, thanks to higher interest income and provision writeback.

Hong Leong Bank's 3Q net profit rises 12% on higher interest income, writeback

Shares in Epicon Bhd (KL:EPICON), formerly known as Konsortium Transnasional Bhd, surged on Thursday and reversed its sharp decline, following a shareholder involvement in an MACC probe.

Epicon shares soar, advancing after clarifying Lagenda-linked MACC probe

MISC Bhd’s (KL:MISC) net profit for the first quarter ended March 31, 2024 (1QFY2024) rose 24% to RM759.90 million, from RM612.90 million a year earlier, on the back of higher earnings from most of its divisions.

MISC's 1Q net profit rises 24% to RM760m, declares dividend of eight sen

The Federal Court deferred the hearing of Sarawak Report editor Clare Rewcastle-Brown's application for leave to appeal on Thursday, as the journalist's counsel Americk Sidhu faced internet connection issues.

Appeal hearing for Sarawak Report editor deferred due to counsel's internet connection issues

A confluence of tailwinds is helping Malaysian equities outperform the region and the return of foreign funds points to further gains.

Overseas investors have bought US$502.9 million (RM2.37 billion) of local shares on a net basis in May, putting the market on track for its biggest monthly inflow since March 2022, according to Bloomberg-compiled data.

AI buzz drives biggest flows into Malaysian stocks in two years

Shares in Paramount Corp Bhd (KL:PARAMON) were headed for their worst day in over seven months on Thursday, after the property developer reported weaker-than-expected first-quarter results.

Paramount shares on course for worst day in over seven months as 1Q disappoints

Food ingredient supplier Agricore CS Holdings Bhd on Thursday began taking orders from investors to raise RM25.9 million under its initial public offering (IPO) exercise for its listing on the ACE Market of Bursa Malaysia.

Agricore starts taking orders for RM25.9m IPO

China is trying to "nibble away" at Taiwan's space and create a new normal with its military drills and other moves to exert pressure, which is a matter for global concern, Taiwanese Foreign Minister Lin Chia-lung said on Thursday.

Taiwan says China is 'nibbling away' at its space, trying to create a new normal

(May 29): Las Vegas Sands Corp plans another development in Singapore to complement its casino resort there, including more space for live entertainment.

Sands plots entertainment-focused expansion in Singapore

SYDNEY/MELBOURNE (May 30): BHP Group investors welcomed the top global miner's decision to walk away from a US$49 billion plan to take over Anglo American, which rejected three proposed offers from its bigger rival over the past six weeks.

Investors welcomed BHP to walk away from US$49b Anglo takeover deal

AT a glance, especially pre-pandemic, Kuala Lumpur International Airport’s (KLIA) performance does not appear to be all that different from its competitors Changi Airport in Singapore and Suvarnabhumi Airport in Bangkok in terms of passenger traffic.

In 2019, KLIA recorded 62.33 million...

Cover Story: Keeping up with the competition

The Ministry of Investment, Trade and Industry (Miti) said it had secured a commitment by Google to invest US$2 billion (RM9.4 billion) to house the first Google data centre and Google Cloud region in Malaysia.

Google to invest US$2b for data centre and cloud region in Malaysia

Media Chinese International Ltd (KL:MEDIAC), which mainly publishes Chinese-language newspapers, may reduce its workforce by as much as 44% as part of an ongoing restructuring, said Kenanga Investment Bank.

Media Chinese may shrink workforce by 44% — Kenanga

KUALA LUMPUR (May 30): Shares in Lagenda Properties Bhd (KL:LAGENDA) hit their lowest in nearly four years on Thursday, amid a fallout from anti-corruption investigations into one of the developer's key personnel.

Lagenda Properties shares extend decline to near four-year low

Shares in Paramount Corp Bhd&nbsp;(KL:PARAMON) were headed for their worst day in over seven months on Thursday, after the property developer reported weaker-than-expected first-quarter results.

Shares in IJM Corp Bhd (KL:IJM) soared to their highest in nearly seven years, after the construction-and-property company reported better-than-expected results for the fourth quarter ended March 31, 2024 (4QFY2024).

IJM Corp shares soar to near seven-year high after 4Q beat

A confluence of tailwinds is helping Malaysian equities outperform the region and the return of foreign funds points to further gains.

Overseas investors have bought US$502.9 million (RM2.37 billion) of local shares on a net basis in May, putting the market on track for its biggest monthly inflow since March 2022, according to Bloomberg-compiled data.

Shares in Epicon Bhd (KL:EPICON), formerly known as Konsortium Transnasional Bhd, surged on Thursday and reversed its sharp decline, following a shareholder involvement in an MACC probe. &nbsp;

Mercury Securities Sdn Bhd has a 'subscribe'&nbsp;recommendation for KTI Landmark Bhd at 30 sen, with a fair value price of 36 sen, based on 15 times earnings per share estimated for the financial year ending Dec 31, 2025 (FY2025), in line with comparable peers’ valuations.

Mercury Securities tells investors to subscribe to KTI Landmark, fair value at 36 sen

Food ingredient supplier Agricore CS Holdings Bhd on Thursday began taking orders from investors to raise RM25.9 million under its initial public offering (IPO) exercise for its listing on the ACE Market of Bursa Malaysia.

Hong Leong Bank Bhd (KL:HLBANK), the banking arm of tycoon Tan Sri Quek Leng Chan, said on Thursday its net profit rose 12% year-on-year (y-o-y) in the third quarter, thanks to higher interest income and provision writeback.

Petroliam Nasional Bhd (Petronas) has been named the National Oil Company (NOC) Explorer of the Year in Wood Mackenzie’s (WoodMac) industry-leading annual exploration survey.

Petronas named NOC Explorer of the Year in WoodMac survey

HHRG Bhd (KL:HHRG), which was slapped with a RM58.18 million suit by its former executive chairman Ooi Chieng Sim, said it had received the sealed copy of the court’s order pertaining to a Mareva injunction against the group.

HHRG served court order for Mareva injunction to freeze RM58.18m assets

US&nbsp;stocks fell on Wednesday amid further gains in Treasury yields and concern over the timing and scale of possible interest rate cuts from the Federal Reserve (Fed).

Wall Street ends lower amid rate concerns, higher bond yields

（吉隆坡30日讯）肯纳格投资银行表示，作为重组的一部分，世华媒体（Media Chinese International Ltd，KL:MEDIAC）可能会裁员多达44%。

肯纳格：世华媒体或将裁员44%

McDonald's top US&nbsp;executive denounced viral reports of runaway Big Mac prices as painting an inaccurate picture of the company, which has seen its profits surge by roughly a third since 2019 and is now preparing to roll out US$5 (RM23.56) combo meals.

McDonald's top US exec denounces viral reports of runaway prices

A global equities gauge fell on Wednesday, while US&nbsp;Treasury yields rose after a third weak government debt auction in a row, and investors worried about higher interest rates, while they waited for a key US&nbsp;inflation report due on Friday.

Stocks, bonds tumble over global rates angst

SINGAPORE (May 30): Singapore&nbsp;will invest about US$222 million (S$300 million) as part of a new national quantum computing strategy to advance its research on the technology, Deputy Prime Minister Heng Swee Keat said on Thursday.

Singapore to invest US$222m to boost quantum computing capability — DPM

The tragic crash involving two&nbsp;Royal Malaysian Navy (RMN) aircraft&nbsp;on April 23 was mainly caused by the&nbsp;Fennec helicopter deviating&nbsp;from its designated altitude and course, and entering the flight path of the AW139 helicopter, according to the&nbsp;board of inquiry's findings.

Tesla Inc&nbsp;blasted Glass Lewis Inc&nbsp;in a letter to shareholders, days after the proxy adviser urged investors to reject a proposed US$56 billion (RM263.93 billion)&nbsp;pay package for chief executive officer Elon Musk.

Tesla hits back at Glass Lewis after critical report on Musk over US$56b pay package

Water and power supply remain a major challenge in Johor, despite the southernmost state in Peninsular Malaysia experiencing a boom in data centres due to its proximity to Singapore and the spillover effects of the US-China trade war, according to Johor Bahru city council (MBJB) Mayor Datuk Mohd Noorazam Osman.

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