(July 5) : Japan’s Topix stock index powered past its bubble-era peak to close at a fresh record high, as buying momentum spread beyond a narrow set of stocks and underscored the firm foundations of the rally.

The broad-based benchmark ended the day 0.9% higher at 2,898.47, soaring...

Japan’s Topix hits all-time high, closing above 1989 record

European stocks rose as key elections held center stage and investors grew more optimistic about Federal Reserve interest-rate cuts following US economic data that supported the case for easing.


France’s CAC 40 benchmark index advanced for a second day in the buildup to this weekend’s final round of voting in snap parliamentary elections.

European stocks advance with elections in focus

LONDON (July 4): A win for Donald Trump in the U.S. presidential election in November would herald a spike in long-term U.S. Treasury yields, said Edmond de Rothschild Asset Management's Chief Investment Officer Benjamin Melman on Thursday.

Trump's approach on taxes and immigration woul...

Trump presidency would cause spike in US bond yields, says Edmond de Rothschild investment boss

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

Toyo Venture, Keyfield, Awantec, MMAG, Mudajaya, GHL Systems, SHH Resources

As President Joe Biden resists pressure to abandon his re-election campaign after a poor showing in his debate with Donald Trump, he will face close scrutiny in public events in coming days that could determine his political future.

All eyes on Biden's July 4th party, ABC interview as Democrats consider his future

EVENING 5: Five things you need to know today

Relentlessly rising debt in the US and rich-world peers was highlighted by two credit-assessment companies, with S&P Global Ratings warning that only acute market pressure can alter the trajectory.

US-led debt increase across G7 stokes S&P and Scope concerns

Bursa Malaysia saw another impressive debut on Thursday — the third in as many days — with frozen seafood company Ocean Fresh Bhd (KL:OFB) opening at more than double its initial public offering (IPO) price.

Ocean Fresh ends first day on ACE Market with impressive 175% gain

Toyo Ventures Holdings Bhd (KL:TOYOVEN), whose share price plunged to its lowest in over one month on Thursday, has confirmed the termination of the Song Hau 2 thermal power plant project by the Vietnamese government, according to its filing with Bursa Malaysia.

Toyo Ventures confirms termination of Song Hau 2 thermal power plant project in Vietnam

In its effort to shore up global oil markets, Opec+ is pushing members to atone for cheating on their supply quotas. Yet there’s little indication that they’re repenting.

Opec+ oil-production cheats show little sign of making compensation cuts

A summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.

FBM KLCI up 0.09% to 1,616.75 on July 4, 2024

The Mass Rapid Transit Line 1 (MRT1) and MRT2 have failed to meet their targets for daily ridership. They also failed to meet the targeted numbers of trains in operation, and peak-hour frequency, according to the 2024 Auditor General's Report.

MRT Corp's accumulated losses hit RM57.6b while MRT1, MRT2 fail to meet ridership, frequency targets — AG's Report

1Malaysia Development Bhd (1MDB) has said there is no real danger of bias for High Court judge Adlin Abdul Majid to continue to preside in the firm and its four subsidiaries’ US$350 million (RM1.6 billion) claim against Datin Seri Rosmah Mansor in a lawsuit against her purported possession of luxury items bought using 1MDB funds.

Its director, Datuk Johan Mahmood Merican, who is also the Treasury secretary-general, in his affidavit-in-reply dated July 4 to Rosmah’s application to recuse Adlin, said there is no conflict of interest for Adlin to preside in the suit despite her previous employment with law firm Lee Hishammuddin Allen and Gledhill (LHAG), as she was never involved in advising 1MDB.

1MDB director says no real danger of bias for judge to preside in Rosmah’s jewellery case

KUALA LUMPUR (July 4): The Public Accounts Committee (PAC) flagged that the Human Resource Development Corp (HRD Corp) had engaged in several dubious property deals, including the purchase of a RM154 million building, without the approval of its board.

PAC flags dubious property deals by HRD Corp

The pound was steady after an exit poll indicated the UK’s Labour Party will secure its long-predicted landslide election victory, with Keir Starmer set to become Prime Minister on a pledge of greater economic stability.

The currency was little changed around $1.276, with markets hoping a tumultuous period in British politics is over

Pound steady as labour projected to win majority in UK election

Ekovest Bhd (KL:EKOVEST), the controlling shareholder of PLS Plantations Bhd (KL:PLS), has transferred some PLS shares to an adviser to pay for services rendered in relation to a corporate proposal that Ekovest undertook previously.

Ekovest pays for adviser's services using PLS shares

The UK financial sector is warming to Labour's pro-business overtures and pledges to provide stability and support, but many in the City remain wary it could be targeted to prop up Britain's stretched public finances further down the line.

Under leader Keir Starmer, the Labour Party — expected to win Thursday's UK election — has assiduously courted the City of London, mindful that his plans for boosting economic growth will need a big dose of private capital.

UK election brings few hopes or fears to cautious City of London

Human Resource Development Corp (HRD Corp) has acknowledged the shortcomings highlighted in the Auditor-General's (AG) and Public Accounts Committee (PAC) reports released on Thursday, and maintained that levies collected from employers should only be used to train their own employees.

HRD Corp acknowledges audit findings, says collected levies should only be for employee training 

Penang Chief Minister, Chow Kon Yeow, welcomed Prime Minister Datuk Seri Anwar Ibrahim's announcement that the Sungai Perak water project is expected to supply an estimated 1,500 million litres of water daily to northern Perak and Penang.

He stated that the estimated volume would be more than adequate for both states.

1,500 mil litres of water daily more than adequate for northern Perak and Penang — Chow

The Mass Rapid Transit Line 1 (MRT1) and MRT2 have failed to meet their targets for daily ridership. They also failed to meet the targeted numbers of trains in operation, and peak-hour frequency, according to the 2024 Auditor General's Report.

Toyo Ventures Holdings Bhd (KL:TOYOVEN), whose share price plunged to its lowest in over one month on Thursday, has confirmed the termination of the Song Hau 2 thermal power plant project by the Vietnamese government, according to its filing with Bursa Malaysia.

1Malaysia Development Bhd (1MDB) has said there is no real danger of bias for High Court judge Adlin Abdul Majid to continue to preside in the firm and its four subsidiaries’ US$350 million (RM1.6 billion) claim against Datin Seri Rosmah Mansor in a lawsuit against her purported possession of luxury items bought using 1MDB funds.

Its director, Datuk Johan Mahmood Merican, who is also the Treasury secretary-general, in his affidavit-in-reply dated July 4 to Rosmah’s application to recuse Adlin, said there is no conflict of interest for Adlin to preside in the suit despite her previous employment with law firm Lee Hishammuddin Allen and Gledhill (LHAG), as she was never involved in advising 1MDB.

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

<div class="ceonothumb mx-auto pb-5">
<div>
<div class="iframe-w100-wrapper"><iframe allowfullscreen="" frameborder="0" height="500" src="https://www.youtube.com/embed/EoufyB-p3Y8?si=EJn8MQBYV-CAV27h&amp;rel=0&amp;autoplay=1&amp;mute=1" width="840"></iframe></div>
</div>

E...

Human Resource Development Corp (HRD Corp) has acknowledged the shortcomings highlighted in the Auditor-General's (AG) and Public Accounts Committee (PAC) reports released on Thursday, and maintained that levies collected from employers should only be used to train their own employees.

Ekovest Bhd (KL:EKOVEST), the controlling shareholder of PLS Plantations Bhd (KL:PLS), has transferred some PLS shares to an adviser to pay for services rendered in relation to a corporate proposal that Ekovest undertook previously.

Mudajaya Group Bhd (KL:MUDAJYA) said its former employee Michael Chua Khian Keng has filed an appeal to challenge the High Court’s decision in the civil suit brought against him by the group.

Former Mudajaya employee appeals court order to pay group RM43.6m  

The government has failed to implement the simultaneous issuance of vacant possession with strata titles (VPST), as there was no coordination between the Ministry of Housing and Local Government (KPKT) and other government agencies to fulfill the implementation of the policy,&nbsp;according to&nbsp;the Auditor General’s (AG) Report 2024.&nbsp;

Issuance of strata titles with vacant possession failed due to lack of coordination between ministry, govt agencies — AG's Report

A senior executive at Chinese technology giant Huawei on Thursday dismissed the idea that a shortage of the most advanced artificial intelligence chips will hinder the country's aim to be a leader in AI, but said innovation is needed to address the issue.

Huawei exec rejects idea that advanced chip shortage will hamper China's AI ambitions

Johor-based furniture manufacturer SHH Resources Holdings Bhd (KL:SHH) has announced its deputy managing director Datin Teo Chan Huat is stepping down effective Oct 2, 2024, citing retirement and health concerns.

SHH Resources deputy managing director to step down next month, cites health concerns

FSMOne Malaysia has advised traders to pare down their global equity exposure in the second half of 2024, but sees Malaysian equities remaining attractive, as compared to their global peers.

FSMOne favours Malaysian equities in 2H2024

A summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.

Khazanah Nasional Bhd has been advised to evaluate whether i2M Ventures Sdn Bhd should continue operations, having failed to achieve its objective to promote, market and manage businesses in Iskandar Puteri, Johor, according to the Auditor-General's (AG’s) Report 2024.

Khazanah advised to review relevance of i2M Ventures after failure to meet KPIs

Relentlessly rising debt in the US and rich-world peers was highlighted by two credit-assessment companies, with S&amp;P Global Ratings warning that only acute market pressure can alter the trajectory.

Hong Kong developers New World Development Co&nbsp;and Far East Consortium International Ltd are selling a residential project at the lowest price in eight years for the district, as competition for buyers intensifies amid high inventory.

New World sells Hong Kong apartments at lowest price in eight years

MMAG Holdings Bhd (KL:MMAG) said its 80%-owned cargo unit MJets Air Sdn Bhd has inked a cargo interline agreement with Capital A Bhd’s (KL:CAPITALA) logistics arm Teleport Everywhere Pte Ltd to improve cargo operations.

MMAG’s air cargo unit inks interline deal with Teleport 

In its effort to shore up global oil markets, Opec+ is pushing members to atone for cheating on their supply quotas. Yet there’s little indication that they’re repenting.

LONDON (July 4): A win for Donald Trump in the U.S. presidential election in November would herald a spike in long-term U.S. Treasury yields, said Edmond de Rothschild Asset Management's Chief Investment Officer Benjamin Melman on Thursday.

Trump's approach on taxes and immigration woul...

A total of 2,585 electric vehicle (EV) charging units have been installed nationwide as of June 25, covering all states and federal territories except Labuan.

The Investment, Trade and Industry Ministry (MITI) said this was a 12.5% increase from the first quarter of this year.

Top Stories

‌
‌

Top Stories

‌‌

‌
‌