Trading ideas: NationGate, Zetrix, Malakoff, YNHP, T7, Luxchem, Tomypak, Master Tec, Scope, PetGas, MBSB, Elridge
Nationgate Holdings Bhd said on Tuesday that the Malaysian Anti-Corruption Commission had raided the premises of its wholly owned subsidiary, NationGate Solution (M) Sdn Bhd, as part of an ongoing investigation into alleged scrap metal smuggling.
Zetrix AI Bhd, formerly MyEG Services Bhd , said on Tuesday it will challenge Bursa Securities' public reprimand for breaking Main Market listing rules.
Malakoff Corp Bhd is partnering with Evergreen Earth Sdn Bhd to explore investment opportunities in greenfield solar photovoltaic power plants and other renewable energy initiatives across Sarawak.
YNH Property Bhd on Tuesday terminated a development agreement with Chin Hin Group Property Bhd for an apartment project in Segambut, Kuala Lumpur, and will instead sell the 6.5-acre parcel to Chin Hin via a direct land deal.
T7 Global Bhd has on Tuesday secured a six-month contract extension from Hibiscus Petroleum Bhd for the provision of maintenance, construction and modification services.
Luxchem Corp Bhd is acquiring five leasehold industrial lands in Mukim Kapar, Klang, for RM45.6mn in cash.
Tomypak Holdings Bhd 's wholly-owned subsidiary has exercised a call option to acquire an additional 10% equity interest in EB Packaging Sdn Bhd for RM6.7mn that will raise its shareholding in the latter to 90%.
Master TEC Group Bhd has signed a MoU with Kuching-based Senari Synergy Sdn Bhd to jointly assess the feasibility of establishing a cable manufacturing facility in Sarawak.
Scope Industries Bhd is investing RM20mn in Malacca Securities Sdn Bhd through the subscription of preference shares.
Petronas Gas Bhd has entered into a settlement agreement with BASF Petronas Chemicals Sdn Bhd under which the latter will pay RM52mn to resolve disputes arising from an electricity supply agreement.
MBSB Bhd has rebranded its investment banking arm as MBSB Investment Bank Bhd and the group's investment research unit MBSB Research.
Urusharta Jamaah Sdn Bhd, a special purpose vehicle under Malaysia's Ministry of Finance, has emerged as a substantial shareholder in Elridge Energy Bhd with a 5.3% direct stake.
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The Sun
an hour ago
- The Sun
China showcases humanoid robots at Shanghai AI conference
SHANGHAI: Serving craft beer, playing mahjong, and even boxing—humanoid robots took center stage at the World AI Conference (WAIC) in Shanghai this weekend, showcasing China's rapid advancements in artificial intelligence. The event, attended by over 800 companies, featured more than 3,000 products, with humanoid robots stealing the spotlight through their quirky yet impressive demonstrations. Premier Li Qiang opened the conference by announcing China's plans to establish a new AI governance body, emphasizing the need to balance innovation with risk management. However, the expo itself buzzed with excitement rather than concern. 'Demand is currently very strong, whether in terms of data, scenarios, model training, or artificial construction. The overall atmosphere in all these areas is very lively,' said Yang Yifan, R&D director at Shanghai-based AI firm Transwarp. This year's WAIC follows a major milestone for Chinese AI—startup DeepSeek's January unveiling of an AI model rivalling top US systems at a fraction of the cost. Among the exhibits, robots drummed to Queen's 'We Will Rock You,' played curling, and served drinks, though some movements remained slightly unrefined. Still, the progress from previous years was evident. China has heavily invested in robotics, with some experts suggesting it may already hold an edge over the US. Unitree, a Hangzhou-based firm, showcased its G1 android, which performed fluid boxing moves, and announced the upcoming launch of a full-sized humanoid robot priced under $6,000. Beyond hardware, AI companions—ranging from digital businessmen to warriors—interacted with visitors via screens. Baidu introduced its latest 'digital humans,' AI agents capable of decision-making and collaboration. The company reported that these avatars outperformed human streamers in e-commerce sales during a recent live broadcast. Baidu also revealed it secured approval for fully driverless robotaxis in Shanghai's Pudong district, marking another step in AI integration. Despite concerns about job displacement, Baidu's Wu Chenxia stressed AI's role in enhancing efficiency rather than replacing humans. Visitors remained captivated by the technology on display. 'When it comes to China's AI development, we have a comparatively good foundation of data and also a wealth of application scenarios,' said Yang. 'There are many more opportunities for experimentation.' - AFP
New Straits Times
3 hours ago
- New Straits Times
US, China to resume tariff talks in effort to extend truce
STOCKHOLM: Senior US and Chinese negotiators meet in Stockholm on Monday to tackle longstanding economic disputes at the centre of a trade war between the world's top two economies, aiming to extend a truce keeping sharply higher tariffs at bay. China is facing an August 12 deadline to reach a durable tariff agreement with President Donald Trump's administration, after Beijing and Washington reached a preliminary deal in June to end weeks of escalating tit-for-tat tariffs. Without an agreement, global supply chains could face renewed turmoil from duties exceeding 100 per cent. The Stockholm talks, led by US Treasury Secretary Scott Bessent and Chinese Vice Premier He Lifeng, come right on the heels of Trump's biggest trade deal yet, with the European Union accepting a 15 per cent tariff on its goods exports to the US and agreeing to make significant EU purchases of US energy and military equipment. That deal struck with European Commission President Ursula von der Leyen on Sunday in Scotland also calls for $600 billion in investments in the US by the EU, Trump told reporters. No similar breakthrough is expected in the US-China talks, but trade analysts said that another 90-day extension of a tariff and export control truce struck in mid-May was likely. An extension of that length would prevent further escalation and help create conditions for a potential meeting between Trump and Chinese President Xi Jinping in late October or early November. Spokespersons for the White House and US Trade Representative's office did not immediately respond to requests for comment on a South China Morning Post report quoting unnamed sources as saying the two sides would refrain from introducing new tariffs or take other steps that could escalate the trade war for another 90 days. Trump's administration is poised to impose new sectoral tariffs that will impact China, including on semiconductors, pharmaceuticals, ship-to-shore cranes and other products. "We're very close to a deal with China. We really sort of made a deal with China, but we'll see how that goes," Trump told reporters before his meeting with von der Leyen, providing no further details. DEEPER ISSUES Previous US-China trade talks in Geneva and London in May and June focused on bringing US and Chinese retaliatory tariffs down from triple-digit levels and restoring the flow of rare earth minerals halted by China and Nvidia's H20 AI chips and other goods halted by the United States. So far, the talks have not delved into broader economic issues. They include US complaints that China's state-led, export-driven model is flooding world markets with cheap goods, and Beijing's complaints that US national security export controls on tech goods seek to stunt Chinese growth. "Stockholm will be the first meaningful round of US-China trade talks," said Bo Zhengyuan, Shanghai-based partner at China consultancy firm Plenum. Trump has been successful in pressuring some other trading partners, including Japan, Vietnam and the Philippines, into deals accepting higher US tariffs of 15 per cent to 20 per cent. Analysts say the US-China negotiations are far more complex and will require more time. China's grip on the global market for rare earth minerals and magnets, used in everything from military hardware to car windshield wiper motors, has proved to be an effective leverage point on US industries. TRUMP-XI MEETING? In the background of the talks is speculation about a possible meeting between Trump and Xi in late October. Trump has said he will decide soon whether to visit China in a landmark trip to address trade and security tensions. A new flare-up of tariffs and export controls would likely derail any plans for a meeting with Xi. "The Stockholm meeting is an opportunity to start laying the groundwork for a Trump visit to China," said Wendy Cutler, vice president at the Asia Society Policy Institute. Bessent has already said he wants to work out an extension of the August 12 deadline to prevent tariffs snapping back to 145 per cent on the US side and 125 per cent on the Chinese side. Still, China will likely request a reduction of multi-layered US tariffs totaling 55 per cent on most goods and further easing of US high-tech export controls, analysts said. Beijing has argued that such purchases would help reduce the US trade deficit with China, which reached $295.5 billion in 2024. China is currently facing a 20 per cent tariff related to the US fentanyl crisis, a 10 per cent reciprocal tariff, and 25 per cent duties on most industrial goods imposed during Trump's first term. Bessent has also said he would discuss with He the need for China to rebalance its economy away from exports toward domestic consumer demand. The shift would require China to put an end to a protracted property crisis and boost social safety nets to encourage household spending. Michael Froman, a former US trade representative during Barack Obama's administration, said such a shift has been a goal of US policymakers for two decades. "Can we effectively use tariffs to get China to fundamentally change their economic strategy? That remains to be seen," said Froman, now president of the Council on Foreign Relations think tank.
The Star
3 hours ago
- The Star
IPO market expected to improve in 2H25
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