Corporate News

AmBank CFO to resign on July 1

AMMB Holdings Bhd (AmBank) group chief financial officer (CFO) Shafiq Abdul Jabbar is set to resign on July 1 to "pursue other professional opportunities".

Corporate News

Hibiscus gets contract extensions

Hibiscus Oil & Gas Malaysia Ltd (HML) and Hibiscus Oil & Gas Malaysia (PM3) Ltd (HML PM3), two indirect full subsidiaries of Hibiscus Petroleum Bhd (Hibiscus Petroleum), have inked a key principles agreement with Petroliam Nasional Bhd (PETRONAS) and Vietnam Oil and Gas Group for the continuation of the PM3 commercial arrangement area production sharing contract (PM3 CAA PSC) and upstream gas sales agreement (UGSA).

Logistics

Alliance Steel, ECRL fuel Kuantan Port’s expansion

Kuantan Port's prospects are underpinned by projects such as Alliance Steel (M) Sdn Bhd's second expansion phase, the establishment of a carbon capture and storage (CCS) hub with Petroliam Nasional Bhd (PETRONAS) and the East Coast Rail Link (ECRL).

Commodities

Oil jumps 4% after Trump pauses tariffs, raises China levy

Oil prices climbed more than 4% on Wednesday, bouncing back from four-year lows earlier in the session, after US President Donald Trump said he would further increase tariffs on China but pause the tariffs he announced last week for most other countries.

Markets

Wall St to open sharply lower as China raises more barriers on US goods

Wall Street's main indexes were set to open sharply lower on Wednesday after China announced more levies on U.S. goods, retaliating to President Donald Trump's reciprocal tariffs that took effect earlier in the day.

Retail

Has Trump cancelled Christmas? China's decorations makers report no US orders

SHAOXING, China: Chinese producers of plastic Christmas trees and other festive decorations say orders from U.S. clients, which are crucial for their business, should have started to come in by now. But because of surging import tariffs, they haven't.

Banking

AmBank CFO Shafiq Abdul Jabbar to step down on July 1

KUALA LUMPUR: AMMB Holdings Bhd (AmBank) group chief financial officer (CFO) Shafiq Abdul Jabbar will step down on July 1 to "pursue other professional opportunities".

Corporate News

LFE Corp wins RM35.25mil job from Petaling Garden

KUALA LUMPUR: LFE Corp Bhd's wholly-owned subsidiary, LFE Engineering Sdn Bhd, has secured a RM35.25mil contract from Petaling Garden Sdn Bhd.

Corporate News

Jati Tinggi wins RM30.27mil sub-contract for power cable relocation

KUALA LUMPUR: Jati Tinggi Group Bhd's wholly-owned subsidiary, Jati Tinggi Holding Sdn Bhd, has secured a RM30.27mil sub-contract from Worktime Engineering Sdn Bhd for the relocation of 33kV and 132kV power supply cables in Bandar Sri Pinang.

Corporate News

Hibiscus Petroleum secures 20-year extension for PM3 commercial arrangement area PSC

KUALA LUMPUR: Hibiscus Petroleum Bhd's indirect wholly-owned subsidiaries, Hibiscus Oil & Gas Malaysia Limited (HML) and Hibiscus Oil & Gas Malaysia (PM3) Limited (HML PM3), have signed a key principles agreement with Petroliam Nasional Bhd (PETRONAS) through Malaysia Petroleum Management, as well as with Vietnam Oil and Gas Group.

Corporate News

Cuckoo Malaysia reschedules IPO, now set for June 24

KUALA LUMPUR: Cuckoo International (Mal) Bhd (Cuckoo Malaysia) is rescheduling the timing of its initial public offering (IPO) on the Main Market of Bursa Malaysia Securities Bhd due to current global market volatility.

Business

China to impose 84% tariffs on U.S. goods starting Thursday

BEIJING: China will impose 84% tariffs on U.S. goods from Thursday, up from the 34% previously announced, the finance ministry said on Wednesday.

Forex

Ringgit weakens against US dollar amid ongoing trade war concerns

KUALA LUMPUR: The ringgit closed weaker against the US dollar today, weighed down by cautious market sentiment following reports of a 104 per cent tariff imposed on China, indicating the likelihood of a prolonged trade war.

Corporate News

Perdana Petroleum wins three-year AHTS vessel charter contracts from Hess

KUALA LUMPUR: Perdana Petroleum Bhd's wholly-owned subsidiary, Perdana Nautika Sdn Bhd (PNSB), accepted two letters of award from Hess Exploration and Production Malaysia B.V. on Nov 20, 2024.

Corporate News

WCT shareholders approve Paradigm REIT listing on Bursa Malaysia

KUALA LUMPUR: Shareholders of WCT Holdings Bhd have approved the proposed listing of Paradigm Real Estate Investment Trust (Paradigm REIT) on the Main Market of Bursa Malaysia Securities Bhd.

Corporate News

AWC wins RM18.4mil waste system contract

KUALA LUMPUR: AWC Bhd's wholly-owned subsidiary, Stream Environment Sdn Bhd (SESB), has entered into a RM18.4mil concession agreement with Landasan Kapital (M) Sdn Bhd (LKSB) and Terminal Bersepadu Gombak Sdn Bhd (TBGSB).

Corporate News

PNB to strengthen portfolio by exiting legacy investments

KUALA LUMPUR: Permodalan Nasional Bhd (PNB) is looking to exit its positions in legacy investments, allowing it to strengthen other asset classes, including fixed income, said its deputy president and group chief executive officer, Datuk Rick Ramli.

Markets

FBM KLCI hits 21-month low as US-China tariff war fuels market decline

KUALA LUMPUR: Bursa Malaysia plummeted again on Wednesday, with over 900 stocks in the red, as escalating tariff wars between the U.S. and China—two of the world's biggest economies—fueled concerns, stoked recession fears, and wiped out massive amounts in market value.

Banking

Bank Negara to look beyond interest rates amid tariffs

Malaysia's central bank is looking beyond monetary policy to weather the fallout from US President Donald Trump's duties, arguing that the country is entering the tariff disputes from a position of strength.

Markets

ACE Market-bound WTEC group targets 10% revenue growth for FY26

KUALA LUMPUR: ACE Market-bound WTEC Group Bhd expects to increase its revenue by at least 10 per cent in the financial year ended Dec 31, 2026 (FY2026) compared to FY2024 by enhancing production capabilities using funds raised from its initial public offering (IPO).