Stock on the Move

T7 Global shares drop 29% after deputy chairman's resignation, short selling suspended

KUALA LUMPUR: The intraday short selling (IDSS) of T7 Global Bhd's shares has been suspended for the rest of the day.

Banking

RHB Singapore appoints Goh Ken-Yi as CEO

SINGAPORE: RHB Singapore, part of Malaysia's fourth biggest bank group RHB, said on Tuesday that it has appointed Goh Ken-Yi as its new Chief Executive Officer effective immediately, according to a statement.

Markets

FBM KLCI edges up amid cautious market ahead of U.S. tariffs

KUALA LUMPUR: The FBM KLCI edged up at midday, while the overall market remained cautious as investors awaited U.S. President Donald Trump's new reciprocal tariffs on global trading partners.

Forex

China's yuan briefly hits 1-month low as markets brace for Trump's tariff plan

SHANGHAI: China's yuan fell to a one-month low against the dollar on Wednesday, before recouping early losses, as markets held their breath for U.S. President Donald Trump's announcement of tariff plans due later in the day.

Business

White House says Trump will go ahead with tariffs as nervous world awaits trade war

WASHINGTON: The White House confirmed on Tuesday that President Donald Trump will impose new tariffs on Wednesday, though it provided no details about the size and scope of trade barriers that have businesses, consumers and investors fretting about an intensifying global trade war.

Stock on the Move

Quick take: PetGas shares dip following pipeline fire incident at Putra Heights

KUALA LUMPUR: Petronas Gas Bhd's (PetGas) shares fell in early trade on Wednesday following the fire incident at its pipeline in Putra Heights, Selangor, on April 1.

Economy

Malaysia’s manufacturing PMI falls in March amid global trade uncertainty

KUALA LUMPUR: The seasonally adjusted S&P Global Malaysia Manufacturing Purchasing Managers' Index (PMI) fell from 49.7 in February to 48.8 in March, indicating a slight slowdown in sector health.

Banking

ABM encourages borrowers affected by Putra Heights fire to contact their banks

KUALA LUMPUR: The Association of Banks in Malaysia (ABM) and its member banks expressed their deepest concerns for those impacted by the gas pipeline fire that broke out today in Putra Heights.

Markets

Foreign investors extend 23-week selloff on Bursa Malaysia, outflow at RM1.15bil

KUALA LUMPUR: Foreign investors continued their selling streak on Bursa Malaysia for the 23rd week in a row, with a net outflow of RM1.15bil, slightly down from RM1.25bil the previous week.

Business

PETRONAS to work with authorities to support those affected by Putra Heights incident

KUALA LUMPUR: Petroliam Nasional Bhd (PETRONAS) has committed to working closely with relevant ministries and agencies to channel timely and meaningful support to the families impacted by the fire incident near Putra Heights, Puchong, Selangor.

Markets

FBM KLCI trends higher as market returns from Hari Raya break

KUALA LUMPUR: The FBM KLCI kicked off with a positive start in early trade on Wednesday, as trading activity resumed following the two-day Hari Raya Aidilfitri break.

Forex

Ringgit opens higher as greenback weakens on softening US economic outlook, tariff uncertainty

KUALA LUMPUR: The ringgit opened higher against the US dollar today as the greenback weakened on a softening US economic outlook and amid uncertainties over reciprocal tariffs scheduled to be announced by the United States later today, said an analyst.

Insight

Volvo goes back to car industry basics with surprise CEO switch

Volvo Car's abrupt decision to tap Hakan Samuelsson as its chief executive officer (CEO) puts the car industry veteran back in charge of steering the automaker through US president Donald Trump's tariff turbulence and a wobbly transition to electric cars, analysts and investors say.

Corporate News

MyNews turnaround to be driven by higher procurement volumes

Analysts expect MyNews Holdings Bhd to experience a turnaround in the next 12 months, despite management expecting it to take place at the end of 2024.

Corporate News

Mega water projects bode well for Engtex Group 

Engtex Group Bhd may see meaningful earnings recovery in the financial year 2025 (FY25) on the back of local sourcing of hot-rolled coil (HRC), stabilising steel prices and a pick-up in orders.

Auto

US automakers in mad dash to persuade Trump to temper tariffs

US automakers are making a last-ditch effort to sway the Trump administration on tariffs set to take effect this week, contending that levies on the thousands of parts they source abroad could have catastrophic effects on the industry.

Corporate News

Better contract terms poised to push Dayang’s profit margin up

Oil and gas-related company Dayang Enterprise Holdings Bhd is liked by analysts due to its sustained ramp-up in upstream maintenance activities as well as the anticipated expansion in project margins due to better contract terms secured.

Corporate News

Hiap Teck’s second-half earnings to peak

Earnings of Hiap Teck Venture Bhd in the second half of its financial year 2025 (2H25) is shaping to come in stronger on the back of the stabilisation of steel prices and lower key steelmaking input cost, as well as the recent commencement of hot rolled coil production.

Property

Positive sentiment to drive real estate sector

The property sector is expected to continue growing steadily this year underpinned by positive market sentiment and investment opportunities following stable growth in 2024.

Corporate News

Glomac expects FY25 sales to exceed previous year

Glomac Bhd is confident of surpassing financial year 2024's (FY24) new property sales of RM360mil despite achieving only RM162mil as of the nine- month period of FY25 (9M25).