Corporate News

JLand Group and Eco World International to jointly explore real estate projects in Malaysia and Australia

KUALA LUMPUR: JLand Group (JLG), the real estate and infrastructure arm of Johor Corp (JCorp), and Eco World International Bhd (EWI) have signed a framework agreement to explore joint real estate development opportunities in Malaysia and Australia.

Corporate News

Hibiscus Petroleum sees stronger cashflows, eyes growth despite UK levy impact

PETALING JAYA: Hibiscus Petroleum Bhd posted a net loss of RM115.97mil or loss of 15.4 sen a share for its third quarter ended March 31, of the financial year 2025 (3QFY25), due to a one-off, non-cash deferred tax liability charge of RM167.3mil related to the UK's Energy Profits Levy (EPL).

Corporate News

Oriental Kopi eyes local expansion and overseas market growth

KUALA LUMPUR: Oriental Kopi Holdings Bhd remains optimistic about its prospects, underpinned by its competitive strengths, strategic business initiatives, and favourable market conditions in both the F&B services sector and the distribution and retailing of branded consumer packaged foods.

Corporate News

Ekuinas appoints Aliff Omar as new CEO

KUALA LUMPUR: Ekuiti Nasional Bhd (Ekuinas) has announced the appointment of Aliff Omar Mohamad Omar as its chief executive officer (CEO), effective today.

Markets

FBM KLCI snaps six-day losing streak to close higher

KUALA LUMPUR: The FBM KLCI snapped a six-session losing streak on Friday, closing higher despite broadly weaker regional markets.

Cryptocurrency

Some US banks explore venturing into crypto with joint stablecoin, WSJ reports

Some of the biggest U.S. banks are exploring whether to team up to issue a joint stablecoin, The Wall Street Journal reported on Thursday.

Energy

US invites Asian officials to Alaska, eyes US$44bil LNG project

TOKYO/WASHINGTON: The U.S. has invited officials from Japan, South Korea and Taiwan to Alaska to discuss projects including a vast gas pipeline, two people familiar with the planning said, as Asian governments consider U.S. investments in the hopes of relief from President Donald Trump's tariffs.

Commodities

Gold heads for biggest weekly jump in 1-1/2 months on US fiscal worries

Gold prices rose on Friday and were poised for their biggest weekly gain in more than a month, as a softer U.S. dollar and concerns over the country's fiscal outlook boosted bullion's safe-haven appeal.

Energy

Oil heads to first weekly loss since April on OPEC+ supply hike prospect

SINGAPORE: Oil prices dropped for a fourth consecutive session on Friday and were set for their first weekly decline in three weeks, weighed down by renewed supply pressure from another possible OPEC+ output hike in July.

Corporate News

TH Plantations posts lower 1Q net profit of RM12.85mil

KUALA LUMPUR: TH Plantations Bhd's (THP) net profit slid to RM12.85 million in the first quarter ended March 31, 2025 (1Q 2025) from RM13.04 million in the same quarter last year.

Forex

Malaysia's ringgit and Indonesia's rupiah lead weekly gains among Asia FX

Emerging Asian currencies rose on Friday, on track for a sixth consecutive weekly gain, as fading appetite for U.S. assets due to concerns over the country's fiscal health lifted emerging assets including Malaysia's ringgit and Indonesia's rupiah.

Markets

Asian shares gain as Treasuries find support

SYDNEY: Asian shares gained on Friday as beaten-down Treasuries found buyers after U.S. President Donald Trump's tax bill narrowly passed the lower house, although debt worries still dominated.

Economy

Small cities in focus for fresh fruit giants

AS international fresh fruit giants Zespri and Driscoll's deepen their roots in China, both companies are shifting their growth strategies toward lower-tier cities, betting on rising health awareness, growing disposable incomes and evolving retail ecosystems to drive growth.

Corporate News

Advancecon unit accepts RM68.51mil construction job in Gombak

KUALA LUMPUR: Advancecon Holdings Bhd via its wholly-owned subsidiary Advancecon Infra Sdn Bhd has been appointed the contractor for the construction of earthworks and ancillary works for stage 1 (package 2) at Lagong Mas in Gombak, Selangor, for RM68.51mil.

Corporate News

Velesto secures new drilling contract in Indonesia

KUALA LUMPUR: Velesto Energy Bhd has secured a new drilling contract from PC Ketapang II Ltd, PC North Madura II Ltd, and PETRONAS North Ketapang Sdn Bhd for its NAGA 8 jack-up rig in Indonesia.

Corporate News

Lotte Chemical's unit inks 3-year naphtha supply deal with Aramco Trading Singapore

KUALA LUMPUR: Lotte Chemical Titan (M) Sdn Bhd (LCTM), a wholly owned subsidiary of Lotte Chemical Titan Holding Bhd (LCTH), has signed a three-year sales contract with Aramco Trading Singapore Pte Ltd to purchase naphtha from July 2025 to June 2028.

Fintech

PayNet, FAOM tie up to drive innovation, growth in Malaysia's fintech sector

KUALA LUMPUR: Payment Network Malaysia Sdn Bhd (PayNet) and Fintech Association of Malaysia (Faom) have signed a memorandum of understanding (MoU) to advance innovation and drive growth within Malaysia's financial technology (fintech) landscape.

Corporate News

PETRONAS Dagangan's net profit jumps to RM293.5mil in 1Q

KUALA LUMPUR: PETRONAS Dagangan Bhd says it will continue to monitor potential indirect effects, particularly inflationary pressures on its supply chain, amid the ongoing global uncertainties.

Corporate News

Hextar Global to ride on 1Q momentum

KUALA LUMPUR: Hextar Global Bhd is cautiously optimistic that the momentum seen in the first quarter of 2025 (1QFY25) will carry into the coming quarters.

Markets

FBM KLCI bounces back after six-day losing streak

KUALA LUMPUR: Equities on the Malaysian stock market found support ahead of the weekend, with investors hoping for upcoming corporate results to provide fresh leads.