Corporate News

Dyson dials back Malaysia hairdryer operations, redeploys staff

DYSON Ltd. is dialing back its hairdryer-related operations in Malaysia, according to people familiar with the matter who declined to be identified discussing matters that are private, as the consumer goods company seeks to streamline its business in the region.

Corporate News

Starbucks considers selling stake in Chinese business, Bloomberg News reports

STARBUCKS is exploring options for its Chinese operations, including the possibility of selling a stake in the business to a local partner, Bloomberg News reported on Wednesday, citing people with knowledge of the matter.

Markets

Asian stocks stutter as Nvidia's forecast disappoints

SINGAPORE: Asian equities fell on Thursday after AI darling Nvidia disappointed investors with slower revenue growth expectations, while the dollar firmed and bitcoin hit a record high, buoyed by hopes about U.S. President-elect Donald Trump's policies.

Commodities

Oil prices edge up on geopolitical tensions; higher-than-expected US inventories cap gains

SINGAPORE: Oil prices rose marginally on Thursday as geopolitical concerns over escalating tensions between Russia and Ukraine countered the impact from a bigger-than-expected increase in U.S. crude inventories.

Corporate News

KAB registers strong growth in sustainable energy segment

KUALA LUMPUR: Kinergy Advancement Bhd (KAB) recorded strong underlying growth in the sustainable energy segment (SES) in the third-quarter ended Sept 30, 2024, and is looking towards larger-scale projects across Asean.

Corporate News

Sime Darby Property aims for balanced sales contribution from industrial, residential segments

KUALA LUMPUR: Sime Darby Property Bhd (SDP) aims to achieve a more balanced sales contribution between its industrial and residential high-rise segments, said group managing director Datuk Seri Azmir Merican.

Corporate News

India's Adani Group sees US$22bil in value wiped off after US indictments

SHARES of Adani Group companies lost about $22 billion in market value in early trade on Thursday after U.S. prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Markets

PETRONAS Chemicals lifts KLCI amid broader market weakness

KUALA LUMPUR: The FBM KLCI retraced earlier losses on the back of buying interest in PETRONAS Chemicals, despite otherwise weak market sentiment.

Corporate News

Northern Solar inks underwriting agreement with M&A Securities

KUALA LUMPUR: Northern Solar Holdings Bhd has signed an underwriting agreement with M&A Securities Sdn Bhd for its listing on the ACE Market of Bursa Malaysia.

Cryptocurrency

Bitcoin breaks US$95,000 for first time on optimism over Trump crypto plans

SINGAPORE: Bitcoin's march toward $100,000 made further ground on Thursday as investors bet a friendlier U.S. regulatory approach to cryptocurrencies under President-elect Donald Trump will unleash a boom era for the asset class.

Forex

Ringgit opens lower against greenback on cautious sentiment

KUALA LUMPUR: The ringgit opened lower against the US dollar today, as investors remain cautious about the outlook for the Federal Reserve (Fed) rate cuts in the near term, said an analyst. 

Markets

FBM KLCI stays below 1,600 after muted Wall St performance

KUALA LUMPUR: Malaysia's stock benchmark hovered just under the 1,600 mark on Thursday after ceding the psychological support in the previous session.

Corporate News

Trading ideas: E&O, Johor Corp, Amway, PetChem, SD Guthrie, Hextar industries, Sime Property,Perdana, Sports Toto, Hap Seng, MYEG

KUALA LUMPUR: Here are the announcements that made headlines in Corporate Malaysia.

Commodities

Oil prices settle down on strong US supply

Oil prices settled lower on Wednesday after US crude and gasoline stocks rose by more than expected last week, but losses were capped by worries about the intensifying war between major oil producer Russia and Ukraine.

Markets

Wall Street ends mixed, Nvidia shares slip

The tech-heavy Nasdaq closed lower on Wednesday, taking a break from the prior session's rally as investors worried about escalating Russia-Ukraine tensions and weak results from Target, while awaiting earnings from megacap Nvidia that landed after the bell.

Corporate News

Citi, Santander prep US$4.2bil debt for buyout

Citigroup Inc and Banco Santander SA are readying a debt package of up to €4bil (US$4.2bil) to back a potential sale of Spanish waste management company Urbaser SA.

Economy

Hanoi seeks to introduce biodiversity credits

Vietnam’s Institute of Strategy and Policy on Natural Resources and Environment is actively researching and identifying the value of biodiversity in the country as part of efforts to develop a mechanism for biodiversity credits.

Retail

Orchard Road association launches sustainability road map

The Orchard Road Business Association (Orba) launched its sustainability road map last week in a bid to make Singapore’s shopping belt more environmentally friendly.

Corporate News

Kia scales back on EV9 in US amid tighter rules

Hyundai Motor Group affiliate Kia is reportedly scaling back US production of its ambitious EV9, a large all-electric sport utility vehicle (SUV), due to stricter Inflation Reduction Act (IRA) regulations.

Insight

Optimistic view of the United States and South Korea alliance

As the dust settles from the 2024 US elections, many US allies and partners, including South Korea, are wondering what happens next as Donald Trump returns to the White House in January.