The Auditor General's Report (LKAN) 2/2024, tabled at the Dewan Rakyat on Thursday, highlighted nine audits involving 11 ministries, with the total cost of the audited projects amounting to RM41.97 billion.

AG's Report 2/2024 highlights nine audits involving 11 ministries; cost of audited projects totals RM41.97b

KUALA LUMPUR (July 4): Shares of Toyo Ventures Holdings Bhd (KL:TOYOVEN) plunged to its lowest in over one month on Thursday, following a news report of the termination of the Song Hau 2 thermal power plant project by the Vietnamese government.

Toyo Ventures’ shares plunge 25% amid news report of Vietnamese contract termination

PUTRAJAYA (July 4): The diesel subsidy targeting measure implemented on June 10 has seen a decrease in diesel seizures of as much as 87%, said Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.

Armizan: Targeted fuel subsidy resulted in decrease in diesel seizures

KUALA LUMPUR (July 4): Analysts remain upbeat on Mah Sing Group Bhd (KL:MAHSING) after it acquired a piece of land in Taman Desa, which is earmarked for an RM1 billion high-rise residential project.

Analysts remain upbeat on Mah Sing after Taman Desa land acquisition 

KUALA LUMPUR (July 4): The Securities Commission Malaysia (SC) has cautioned the public on investment scams enticing investors with pre-initial public offering (pre-IPO) shares of companies seeking to list on Bursa Malaysia.

Securities Commission warns public on pre-IPO investment scams

Shares of Ocean Fresh Bhd (KL:OFB) more than doubled in its trading debut on the ACE Market after the frozen seafood company raised RM14.01 million from its initial public offering (IPO) on the back of strong demand.

Ocean Fresh shares more than double on ACE Market debut

Hong Leong Investment Bank (HLIB) has turned more positive on the consumer sector, upgrading its call to "overweight", from "neutral", due to potential margin expansion from lower raw material prices and consumption boosts from the Employees Provident Fund (EPF) Account 3 and civil servant pay hikes.

HLIB upgrades consumer sector to overweight, names Aeon, Focus Point, QL Resources as top picks

Philip Research reaffirmed its positive outlook on OCK Group Bhd (KL:OCK), projecting significant gains from widespread 5G adoption and a record-breaking year in 2024.

Philip Research sees record year for OCK, boosted by 5G and order book

Construction outfit Jati Tinggi Group Bhd (KL:JTGROUP) said it has secured a RM20.05 million contract to undertake the installation of 33kV underground cables in the southern region of Peninsular Malaysia.

Jati Tinggi secures RM20m underground cable job

The Federal Land Development Authority (Felda) recorded revenue of RM186 million in the first quarter (1Q) of 2024, up 3% from a year earlier, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Felda 1Q2024 revenue up 3% to RM186m, Parliament told

The National Scam Response Centre (NSRC) received as many as 37,002 calls from scam victims with a total reported loss of RM203.33 million as of May 2024.

Over RM203m in scam losses reported to NSRC as of May, says Anwar 

The feasibility study for the high-speed rail network connecting Sabah, Sarawak, Brunei, and Kalimantan, Indonesia, dubbed the Trans Borneo Railway project, is expected to begin next month, says Transport Minister Anthony Loke.

Feasibility study for Trans Borneo Railway project to begin next month

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday.

Mah Sing, Siab, Naim, Greatech, WCT, Computer Forms, PetDag, MyEG 

Digital payment solutions provider PUC Bhd (KL:PUC) said on Wednesday that its RM22 million cash sale consideration for its software and intellectual property (IP) rights is based on a willing-buyer willing-seller basis, after taking into account the asset's net book value of RM22.39 million as at financial period ended March 31, 2024.

PUC gets Bursa queries over RM22m cash sale of software, IP rights 

LONDON (July 3): Britain's Labour Party is expected to win Thursday's national election, returning to power after 14 years in opposition and making Keir Starmer the country's new prime minister.

Below are the foreign policy plans the party set out in its manifesto ahead of the...

What are Labour's foreign policy plans?

LONDON (July 4): Britain looks set to elect Labour Party leader Keir Starmer as its next prime minister when voters go to the polls on Thursday, sweeping Rishi Sunak's Conservatives out of office after 14 often turbulent years.

Opinion polls put Starmer's centre-left party on cours...

Labour predicted to rout Sunak's Conservatives as Britain goes to polls

In a 1955 speech to a group of investment bankers, then-US Federal Reserve chair William McChesney Martin shared a story about an economics professor who always administered the same exam. When asked how any student could possibly fail such a test, the professor replied, “The questions don’t chan...

The Frontiers Of Growth: The geopolitical imperative to upgrade the dollar

The Robo Report, published by US-based wealth management and investment advisory firm Condor Capital Wealth Management, ranks the total portfolio performance of a long list of robo-advisory firms in the US.

Performance of robo-advisor portfolios in the US

Saudi Aramco and Abu Dhabi National Oil Company (ADNOC) have been separately considering bids for Santos, Bloomberg News reported, sending shares of the Australian gas producer up 6.5% on Thursday.

Aramco, ADNOC reportedly weighing bids for Australia's Santos, but analysts sceptical

(July 4): One of the world’s fastest growing pools of retirement capital is reducing its investments in hedge funds, as regulatory scrutiny grows on fees and performance at Australian pension funds.

Hedge funds lose favour in Australia’s US$2.6 tril pension pot

Asian stocks hit 27-month highs on Thursday as softer US data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar.

Asian stocks hit 27-month top, dollar slips on rate cut talk

Shares of Ocean Fresh Bhd (KL:OFB) more than doubled in its trading debut on the ACE Market after the frozen seafood company raised RM14.01 million from its initial public offering (IPO) on the back of strong demand.

The red-hot Washington debate over whether President Joe Biden will scrap his run for re-election is spilling into Wall Street, where traders are shifting money to and from the dollar, Treasuries and other assets that would be impacted by Donald Trump’s return to office.

The recalibration of portfolios kicked off at the end of last week after Biden’s disastrous debate with Trump heightened concerns the 81-year-old Democrat is too old to serve another term.

Global markets on alert for Biden exit as Trump-win trades mount

Construction outfit Jati Tinggi Group Bhd (KL:JTGROUP) said it has secured a RM20.05 million contract to undertake the installation of 33kV underground cables in the southern region of Peninsular Malaysia.&nbsp;

&nbsp;US&nbsp;President&nbsp;Joe&nbsp;Biden&nbsp;vowed to stay in the&nbsp;2024 presidential race&nbsp;during a call with campaign staff on Wednesday and sought to reassure top Democrats on Capitol Hill that he is fit for reelection despite&nbsp;his&nbsp;shaky&nbsp;debate performance last week.

Biden&nbsp;dialed in to a call with worried members of&nbsp;his&nbsp;campaign team&nbsp;and told them he wasn't going anywhere, according to two sources familiar with the call.

'I am running' — Biden scrambles as pressure grows to abandon his campaign

Philip Research reaffirmed its positive outlook on OCK Group Bhd (KL:OCK), projecting significant gains from widespread 5G adoption and a record-breaking year in 2024.

Wall Street traders sent stocks higher as bonds yields fell after a string of weaker-than-estimated economic reports reinforced the case for the Federal Reserve to start cutting rates this year.

<article>
In a shortened session ahead of the&nbsp;US holiday, the S&amp;P 500 hit an all-time high on bets lower rates will keep fueling Corporate America.
</article>

Stocks hit fresh highs as weak data sink US yields

KUALA LUMPUR (July 4): The Securities Commission Malaysia (SC) has cautioned the public on investment scams enticing investors with pre-initial public offering (pre-IPO) shares of companies seeking to list on Bursa Malaysia.

Hong Leong Investment Bank (HLIB) has turned more positive on the consumer sector, upgrading its call to "overweight", from "neutral", due to potential margin expansion from lower raw material prices and consumption boosts from the Employees Provident Fund (EPF) Account 3 and civil servant pay hikes.

Budget pressures are forcing governments across Southeast Asia to rethink fuel subsidies, risking political backlash and another inflation blow to their economies.

Thailand and Malaysia have let diesel prices climb in the past weeks to ease the burden on public finances as global crude prices rise.

Asia’s fuel subsidies are falling victim to budget pressures

The dollar dropped by the most in three weeks as data showed the US services sector contracted in June at the fastest pace in four years, sending Treasury yields lower.

The Bloomberg Dollar Spot Index dropped 0.4% Wednesday, the biggest decline since June 12. The currency lost ground against all of its major counterparts, with the Norwegian krone, Swedish krona and the Australian dollar leading the advances.

Dollar drops most in three weeks as yields fall on rate-cut bets

KUALA LUMPUR (July 4): Shares of Toyo Ventures Holdings Bhd (KL:TOYOVEN) plunged to its lowest in over one month on Thursday, following a news report of the termination of the Song Hau 2 thermal power plant project by the Vietnamese government.

Some of the world’s biggest oil-hauling supertankers are instead loading up vast volumes of diesel in the latest sign of how attacks by Yemen’s Houthis are upending global shipping.&nbsp;

At least one so-called very large crude carrier, or VLCC, capable of hauling two million barrels of oil is already sailing from the Middle East to Europe, while another is in the process of loading, according to Kpler and ship-tracking data compiled by Bloomberg.&nbsp;

Giant oil tankers find new business after Houthi ship attacks

Signs&nbsp;of renewed activity emerged on Wednesday in the quest for a&nbsp;ceasefire&nbsp;deal between&nbsp;Israel&nbsp;and Hamas in the nine-month-old war in the&nbsp;Gaza&nbsp;Strip while&nbsp;Israel&nbsp;launched more strikes on the devastated&nbsp;enclave.

After weeks with little public diplomacy, mediators Egypt and Qatar delivered a response from Hamas to a proposal that would include a release of hostages held in&nbsp;Gaza&nbsp;and a&nbsp;ceasefire&nbsp;in the Palestinian&nbsp;enclave.

Gaza ceasefire effort shows signs of revival as Israel pounds enclave

The Auditor General's Report (LKAN) 2/2024, tabled at the Dewan Rakyat on Thursday, highlighted nine audits involving 11 ministries, with the total cost of the audited projects amounting to RM41.97 billion.

KUALA LUMPUR (July 4): Analysts remain upbeat on Mah Sing Group Bhd (KL:MAHSING) after it acquired a piece of land in Taman Desa, which is earmarked for an RM1 billion high-rise residential project.

Asian stocks hit 27-month highs on Thursday as softer US data narrowed the odds on a September rate cut there, boosting bonds and commodities while dragging on the dollar.

（吉隆坡4日讯）海洋冷冻食品公司（Ocean Fresh Bhd）（KL:OFB）今早在创业板上市，成交量超出一倍。

海洋冷冻食品创业板登场 成交量翻倍

Federal Reserve (Fed) officials said they were awaiting additional evidence that inflation is cooling and were divided on how long to keep interest rates elevated at their last policy meeting.

Minutes from the two-day Federal Open Market Committee gathering ended June 12 showed officials didn’t expect it would be appropriate to lower borrowing costs “until additional information had emerged to give them greater confidence that inflation” is on track to their 2% goal.

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Uploaded by Isabelle Francis

Fed sought more evidence of cooling inflation, June minutes show

(July 4):&nbsp;Pakistan was lowered to frontier market status, from secondary emerging market by FTSE Russell, dealing a blow to the nation’s equities and potentially driving millions of dollars in outflows.

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