Trading ideas: Maybank, KAB, Ibraco, PeterLabs, MCE, Euro, MFM, Johor Plantations, Taliworks, Keyfield, George Kent
Malayan Banking Bhd has signed a letter of intent with the Ministry of Economy to support the Johor-Singapore Special Economic Zone and facilitate up to RM2.4bn in client investments over the next three to 10 years.
Kinergy Advancement Bhd 's unincorporated joint venture with Sinohydro Corporation (M) Sdn Bhd has secured a RM646.3mn engineering, procurement, construction and commissioning contract to build a 120-megawatt power plant facility in Labuan.
Ibraco Bhd targets to launch new residential and industrial development projects in Sarawak worth RM500mn this year.
Peterlabs Holdings Bhd said the Malaysian Anti-Corruption Commission conducted a raid at its principal offices and its subsidiary Thye On Tong Trading Sdn Bhd on Monday, after the company lodged a report to MACC on May 9 over alleged misconduct involving its executive director Datuk Loh Saw Foong.
MCE Holdings Bhd has formalised a 51:49 JV with Nanjing Chuhang Technology Co Ltd, a Chinese firm producing millimetre wave radars.
Chengco PLT has resigned as Euro Holdings Bhd auditor with immediate effect due to the suspension of the audit firm's registration by the Audit Oversight Board of the Securities Commission Malaysia.
Malayan Flour Mills Bhd has allocated RM215mn in capital expenditure for the FY25, of which RM160mn will go to its poultry integration segment and another RM100mn earmarked for expanding and upgrading farming infrastructure.
Johor Plantations Group Bhd posted a higher net profit of RM75.9mn in 1QFY25, compared to RM50mn in the same period last year.
Taliworks Corp Bhd reported a 30% YoY decline in its net profit for 1QFY25 at RM10.5mn versus RM15mn in the same quarter last year.
For 1QFY25, Keyfield International Bhd posted a lower net profit of RM20.7mn compared with RM30.3mn in the same period last year, while revenue declined by 18.5% to RM86.8mn from RM106.4mn, mainly due to reduced vessel revenue.
George Kent (Malaysia) Bhd returned to the black with a net profit of RM19mn in 4QFY25 against a net loss of RM28.6mn a year ago, on the back of higher revenue.
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New Straits Times
an hour ago
- New Straits Times
India, China agree to resume direct flights, boost business links
NEW DELHI: India and China agreed on Tuesday to resume direct flights and step up trade and investment flows as the neighbours rebuild ties damaged by a 2020 border clash. The Asian giants are cautiously strengthening ties against the backdrop of US President Donald Trump's unpredictable foreign policy, staging a series of high-level bilateral visits. The two countries would resume direct flights and boost trade and investment, including reopening border trade at three designated points, and facilitate in visas, the Indian foreign ministry said. Direct flights have been suspended since the COVID-19 pandemic in 2020. No date was given for their resumption. The latest statements came at the end of Chinese Foreign Minister Wang Yi's two-day visit to New Delhi for the 24th round of talks with Indian National Security (NSA) Advisor Ajit Doval to resolve their decades old border dispute. The border talks covered issues related to pulling back troops both countries have amassed on their Himalayan border, delimitation of borders and boundary affairs, the Indian ministry said. Both countries have agreed to set up a working group to consult and coordinate on border affairs to advance demarcation negotiations, a Chinese foreign ministry statement released on Wednesday showed. It said the mechanism will extend talks to cover the eastern and middle sections of the border. Meanwhile another round of talks on the western section will be held as soon as possible, the ministry said. Beijing also said both countries agreed to meet again in China in 2026. "Stable, predictable, constructive ties between India and China will contribute significantly to regional as well as global peace and prosperity," Prime Minister Narendra Modi posted on X after meeting Wang. Modi is scheduled to travel to China at the end of this month to take part in the summit of the Shanghai Cooperation Organisation - his first visit to the country in more than seven years. TIBET DAM A readout from the Chinese foreign ministry said Wang told Doval that "the stable and healthy development of China-India relations is in the fundamental interests of the two countries' people." The two sides "should enhance mutual trust through dialogues and expand cooperation," Wang said, and should aim for consensus in areas such as border control and demarcation negotiations. India said Foreign Minister Subrahmanyam Jaishankar had underlined in his talks with Wang India's concerns with regard to the mega dam China is building on the Yarlung Zangbo river in Tibet. Yarlung Zangbo becomes the Brahmaputra as it flows into India and Bangladesh, a lifeline for millions. The dam would have implications for lower riparian states and the need for "utmost transparency" was strongly underlined, New Delhi said. To that, China agreed to share with India emergency hydrological information on relevant rivers on humanitarian principles, China's foreign ministry said. Both sides agreed to engage an expert-level mechanism on cross-border rivers, and maintain communication to renew flood reporting arrangements, the ministry said. Chinese officials had previously said hydropower projects in Tibet will not have a major impact on the environment or on downstream water supplies, but India and Bangladesh have nevertheless raised concerns. Earlier on Tuesday, an Indian source said Wang had assured Jaishankar that Beijing was addressing three key Indian concerns - the need for fertilisers, rare earths and tunnel boring machines. The Indian foreign and mines ministries and China's commerce ministry did not immediately respond to requests for comment.
Barnama
an hour ago
- Barnama
India PM Modi Receives China's Foreign Minister, Hails Improvement In Ties
By Shakir Husain NEW DELHI, Aug 20 (Bernama) -- Indian Prime Minister Narendra Modi received Chinese Foreign Minister Wang Yi in New Delhi on Tuesday and hailed improvement in bilateral relations. China's top diplomat arrived in India on Monday for a two-day visit as the two countries continue efforts to rebuild trust amid their border dispute. bootstrap slideshow "Glad to meet Foreign Minister Wang Yi. Since my meeting with President Xi (Jinping) in Kazan last year, India-China relations have made steady progress guided by respect for each other's interests and sensitivities," Modi said on X. The Indian prime minister is scheduled to attend the Shanghai Cooperation Organisation (SCO) summit in China from August 31 to September 1 and have a bilateral meeting with the Chinese president. "I look forward to our next meeting in Tianjin on the sidelines of the SCO Summit. Stable, predictable, constructive ties between India and China will contribute significantly to regional as well as global peace and prosperity," Modi said. Wang's discussions with his Indian counterpart Subrahmanyam Jaishankar and India's national security advisor Ajit Doval earlier covered key bilateral issues, including de-escalation in the boundary row and Indian concerns over China's mega dam construction on the Yarlung Tsangpo river (Brahmaputra in India). -- BERNAMA
The Star
2 hours ago
- The Star
India tilts from US towards Eurasia
You've got a friend in me: Modi's (centre) phone call with Putin (right) following the Russian president's summit with Trump in Alaska came just days ahead of yesterday's meeting between the Indian leader and Wang. — AP Prime Minister Narendra Modi hailed Russian leader Vladimir Putin as a 'friend' while his government moved to bolster relations with China, another sign the South Asian nation is tilting away from the United States in the face of Donald Trump's tariff threats. Modi held a phone call with Putin following the Russian president's summit with Trump in Alaska. During the conversation, the two discussed issues of bilateral cooperation and agreed to remain in close touch, according to an official statement from New Delhi. 'India has consistently called for a peaceful resolution of the Ukraine conflict and supports all efforts in this regard,' Modi said in a post on X on Monday, adding that he looks forward to 'continued exchanges' with Putin in the coming days. The comments come just ahead of a meeting set for yesterday between Modi and Chinese Foreign Minister Wang Yi, who is visiting India for the first time in three years. Both countries want better relations, Indian External Affairs Minister Subrahmanyam Jaishankar said on Monday after meeting Wang. 'Having seen a difficult period in our relationship', both nations 'now seek to move ahead,' Jaishankar said in New Delhi. 'Differences must not become disputes, nor competition conflict.' Wang said that because 'unilateral bullying is prevalent,' the two sides should 'contribute to promoting the multi-polarisation of the world,' according to a statement from the Foreign Ministry in Beijing. He added that China and India should 'regard each other as partners and opportunities, not as opponents or threats'. China has assured India of supplies of fertiliser, rare earth minerals and tunnel-boring machines, an official in New Delhi told reporters, asking not to be identified because discussions are private. China's statement on Monday didn't mention these assurances. India's outreach to Russia and China underscores its weakening relationship with the US under Trump. New Delhi initially welcomed the new administration, hopeful of striking a quick trade deal and building on years of closer ties with the United States, its largest trading partner. However, the two sides have been at odds recently in the wake of their failure to strike an agreement, and ties further soured after Trump imposed 50% tariffs on India over its purchases of Russian oil, a level that would decimate many Indian exporters. In a Financial Times column Monday, Trump trade adviser Peter Navarro called India's purchases of Russian oil 'opportunistic and deeply corrosive' to efforts to halt Moscow's war machine. Russia and India are longtime partners dating back to the Cold War, and India has broadly stayed neutral over Putin's war in Ukraine. Meanwhile, relations between India and China have undergone a thaw. Ties hit a low point after a bloody border skirmish five years ago. But recent months have seen signs of fence-mending: Beijing has loosened curbs on urea exports, New Delhi has reinstated tourist visas for Chinese nationals, while a growing number of Indian businesses have been seeking partnerships with Chinese companies for deals including technology transfers, Bloomberg News has reported. Trump's tariffs on both countries' exports, as well as threats to penalise India for buying Russian oil, are adding urgency to normalise ties. When asked if Beijing expects Putin to call President Xi Jinping as he did Modi and Brazil's Luiz Inacio da Silva, Foreign Ministry spokeswoman Mao Ning said 'the heads of state of China and Russia have maintained smooth communications channels'. Mao added that she had 'no information to offer' on any immediate plan for Xi to speak with Putin. Modi is, meanwhile, poised to visit China and hold meetings with Xi later this month on the sidelines of the Shanghai Cooperation Organisation summit. If confirmed, it would be Modi's first visit to China in seven years. Jaishankar said that 'overall, it is our expectation that our discussions would contribute to building a stable, cooperative and forward-looking relationship between India and China'. —Bloomberg
