TH Plantations CEO on garden leave, CFO resigns over RM5m payouts
Zainurin has also been placed on garden leave commencing from the date of issuance of the show cause letter until further notice, the group said in a filing with Bursa Malaysia today.
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Free Malaysia Today
3 hours ago
- Free Malaysia Today
Bursa ends lower ahead of US tariff deadline
KUALA LUMPUR : Bursa Malaysia pared earlier gains to close lower today, as investors adopted a more cautious posture ahead of the US tariff negotiation deadline on Aug 1. UOB Kay Hian Wealth Advisors Sdn Bhd's head of investment research Sedek Jantan noted that the FTSE Bursa Malaysia KLCI (FBM KLCI) commenced the week's trading on a firm footing, posting early gains during the morning session. However, the momentum proved unsustainable into the afternoon, with the index closing lower as investors adopted a more cautious posture ahead of Thursday's US tariff deadline. 'Among the FBM KLCI constituents, plantation and utility counters led the gainers, aligning with our weekly view that investor positioning would favour domestically oriented sectors amid heightened external uncertainty. 'We anticipate markets will continue to consolidate in the near term, awaiting further signals from the Malaysia-US trade talks or any fresh tariff-related announcements from US president Donald Trump,' he told Bernama. Sedek noted that regional peers delivered a mixed performance today, weighed by profit-taking and concerns over global trade developments. Hong Kong's Hang Seng Index gained 0.68% to close at 25,562.13, South Korea's Kospi garnered 0.42% to 3,209.52, while Singapore's Straits Times Index lost 0.27% to 4,249.48, and Japan's Nikkei 225 shed 1.10% to 40,998.27. Meanwhile, Rakuten Trade Sdn Bhd's equity research vice-president Thong Pak Leng said the local benchmark index closed below the 1,530 level due to late selling. He noted that market sentiment was subdued as investors awaited more details from the US-China trade discussions, set to begin in Stockholm later today. Thong said the local bourse remains in consolidation mode, hovering around the 1,530 level due to a lack of fresh catalysts. 'For the moment, we expect the FBM KLCI to trend range-bound, hovering within 1,510-1,540 points for the week. 'We notice crude palm oil (CPO) futures remain above RM4,000 per tonne, and we believe this is an opportunity to accumulate plantation stocks,' he added. At 5pm, the FBM KLCI fell 4.38 points, or 0.29%, to close at 1,529.38 from Friday's close of 1,533.76. The benchmark index opened 4.29 points firmer at 1,538.05 and moved between 1,528.34 and 1,539.38 throughout the trading session. In the broader market, losers led gainers 554 to 420, while 488 counters were unchanged and 1,091 untraded, with 43 suspended. Turnover improved to 3 billion units worth RM2.3 billion from 2.86 billion shares worth RM2.16 billion on Friday. Of the heavyweight stocks, Maybank, CIMB and IHH Healthcare were all flat at RM9.54, RM6.75 and RM6.66, respectively. Public Bank fell four sen to RM4.25 and Tenaga Nasional slid 24 sen to RM13.36. Petronas Chemicals jumped eight sen to RM3.61, and Nestle surged RM2.50 to RM88. Among the most active stocks, Ekovest added four sen to 44 sen, NexG inched up 0.5 sen to 53 sen, and Tanco grew one sen to 92.5 sen. Zetrix AI went down 7.5 sen to 83.5 sen and YTL Corporation slipped three sen to RM2.45. Among top gainers and decliners, SAM Engineering and Equipment rallied 13 sen to RM4.20, while Fraser and Neave and Infomina were each 10 sen higher at RM29 and RM1.1, respectively. United Plantations dropped 32 sen to RM21.90, and Petronas Dagangan lost 26 sen to RM21.44. Across the broader market, the FBM Emas Index dropped 34.62 points to 11,472.20, the FBMT 100 Index slipped 37.27 points to 11,232.45, and the FBM Emas Shariah Index lost 38.94 points to 11,490.04. The FBM 70 Index fell 77.16 points to 16,530.41 while the FBM ACE Index shaved 2.42 points to 4,636.60. By sector, the plantation index grew 28.44 points to 7,463.23, the industrial products and services index inched up 0.25 of-a-point higher to 157.39, and the energy index climbed 0.94 of-a-point to 740.79. The financial services index sank 45.86 points to 17,408.37. The Main Market volume improved to 1.67 billion units valued at RM2.03 billion from 1.26 billion units valued at RM1.85 billion. Warrants turnover slipped to 1.01 billion units worth RM161.01 million from 1.28 billion units worth RM218.03 million previously. The ACE Market volume rose to 323.13 million units worth RM106.95 million from 313.89 million units worth RM90.97 million. Consumer products and services counters accounted for 236.86 million shares traded on the Main Market; industrial products and services (218.34 million), construction (182.64 million), technology (469.3 million), SPAC (nil), financial services (63.27 million), property (170.58 million), plantation (13.29 million), REITs (15.88 million), closed-end fund (900), energy (110.48 million), healthcare (42.84 million), telecommunications and media (33.72 million), transportation and logistics (39.83 million), utilities (71.07 million), and business trusts (27,000).
The Sun
4 hours ago
- The Sun
Two Bumiputera firms targeted for Bursa Malaysia listing by year-end
KUALA LUMPUR: The government is targeting at least two Bumiputera companies to be listed on Bursa Malaysia by the end of this year. Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi revealed this during the launch of the Bumiputera Rapid Acceleration and Value Enhancement (BRAVE) programme today. The initiative aims to strengthen the Bumiputera entrepreneurial ecosystem by offering alternative financing of up to RM1 million at a competitive profit rate of 3.5 per cent. Additionally, selected companies will receive comprehensive capacity-building support to prepare them for public listing. 'A total of 15 companies will be selected in the initial phase, and from that number, five will receive intensive mentoring to prepare them for listing on Bursa Malaysia by the end of this year,' Ahmad Zahid said in his speech, delivered by Minister of Entrepreneur and Cooperatives Development Datuk Ewon Benedick. As of 2022, only 62 out of 945 companies listed on Bursa Malaysia were majority Bumiputera-owned, representing just seven per cent. Over the past four years, only one Bumiputera company was listed compared to 96 non-Bumiputera firms. 'More concerning is that over the past four years, only one Bumiputera company has been listed compared with 96 non-Bumiputera companies. This reflects an urgent reality; we cannot remain complacent with the 'status quo' but must step out of our comfort zones and create change,' he said. To achieve the listing target, Ahmad Zahid emphasised the need for strategic training in investor relations, corporate communications, and IPO preparation, alongside stronger industry collaboration. On micro, small, and medium enterprises (MSMEs), he noted that the sector contributes 97.4 per cent of all businesses in Malaysia, generating RM631.1 billion in GDP and RM152.2 billion in exports in 2023. However, challenges such as limited capital access and low competitiveness persist. He hopes the BRAVE programme will serve as a catalyst for MSME growth, addressing these barriers while fostering economic inclusivity. - Bernama
New Straits Times
5 hours ago
- New Straits Times
Aneka Jaringan's Q3 earnings soar 31.3pct, revenue jumps 18.05pct
KUALA LUMPUR: Aneka Jaringan Holdings Bhd reported a 31.3 per cent increase in net profit to RM738,000 for the third quarter ended May 31, 2025, compared to RM562,000 in the same period last year. According to its filing with Bursa Malaysia, the company's revenue climbed 18.05 per cent to RM49.4 million from RM41.85 million previously, supported by stronger contributions from its ongoing projects in Malaysia. No dividend was declared for the quarter. The company said it remains cautiously optimistic about its performance for the financial year ending Aug 31, 2025, amid persistent trade uncertainties and fluctuating costs. "The group continues to monitor cost fluctuations closely and is prepared to implement proactive measures to mitigate their impact on operations and profitability," it said. Managing director Pang Tse Fui said the profit momentum reflected the effectiveness of Aneka Jaringan's execution strategy and strong financial management. "As our project portfolio continues to deliver, we remain focused on risk-managed growth while reinforcing governance across all operational aspects. "The results thus far give us the confidence to stay on track toward a stronger full-year performance," he said.
