Latest news with #RM11bil
The Star
a day ago
- Business
- The Star
FBM KLCI steadies above 1,500 amid cautious sentiment over trade talks
KUALA LUMPUR: The FBM KLCI started Tuesday on a cautious note, with mild early movements reflecting subdued investor sentiment amid ongoing U.S.-China trade uncertainty and continued foreign outflows from the local market. The market barometer saw tepid swings in early trade today, opening marginally higher at 1,519.71, dipping to 1,517.74, and then inching up 0.65 points to 1,520.06 as of 9.21 am. Overnight, the S&P 500 climbed 0.09% to end the session at 6,005.88 points. The Nasdaq gained 0.31% to 19,591.24 points, while the Dow Jones Industrial Average ended essentially unchanged at 42,761.76 points. Among the gainers on Bursa Malaysia, PETRONAS Gas rose 14 sen to RM18.28, Carlsberg added 10 sen to RM19.56, Malaysian Pacific Industries gained eight sen to RM20.98 and 99 Speed Mart climbed five sen to RM2.15. Nestle tumbled 72 sen to RM75.02, APM slid 43 sen to RM3, Panasonic Manufacturing lost 12 sen to RM11.80 and Tenaga declined eight sen to RM14.20. Rakuten Trade expects the FBM KLCI to trend within the 1,515-1,525 range today. The research house noted that, so far this year, the local bourse has recorded over RM11bil in net foreign outflows, as investors shift their attention to the more robust Hong Kong market. 'No thanks to Trump's flip-flop tariff policy, consensus has downgraded overall earnings by corporate Malaysia, namely the banks, hence the lacklustre interest in the local equities,' Rakuten said. Meanwhile, Inter-Pacific Research noted that the key index seems to have found support just above the psychological 1,500 level, a position it is likely to hold in the near term. This comes as market participants remain cautious, awaiting the outcome of ongoing U.S.-China trade talks, which remain at a standstill following inconclusive overnight negotiations. Even so, Inter-Pacific said the FBM KLCI is likely to trend higher, with a mild upside bias expected to persist in the near term, supported in part by optimism that a trade deal between the two sides could eventually be reached. 'At the same time, the selling pressure is also easing somewhat and should allow for more bargain hunting to emerge for now. 'On the upside, there are resistances at the 1,523-1,525 levels and 1,530 points respectively. The supports, meanwhile, are at 1,510 and 1,503 points respectively,' Inter-Pacific said.
The Star
22-05-2025
- Business
- The Star
Mindef signs agreements worth RM11bil
LANGKAWI: The Defence Ministry (Mindef) has signed 40 contracts or letters of acceptance (LOA), letters of intent (LOI) and memorandum of understanding (MOU) worth RM11bil with selected strategic partners during the Langkawi International Maritime and Aerospace Exhibition 2025 (Lima'25). Defence Minister Datuk Seri Mohamed Khaled Nordin (pic) said these contracts involved 40 LOA, two LOI worth over RM30mil to companies that have been awarded procurement contracts by Mindef and six MOUs between Mindef and selected strategic partners. 'However, the total value of the contracts also includes 45 other procurement contracts worth between RM10mil and RM30mil signed previously,' he said after the signing and handover ceremony of the contracts, LOA, LOI and MOU at the Mahsuri International Exhibition Centre here yesterday, Bernama reported. Mohamed Khaled said the procurement amount increased by about RM1bil compared to around RM10.1bil with 43 documents, signed at Lima'23. All those acquisitions, he said, involved five main areas, namely the acquisition of strategic assets for land, maritime, air defence, cybersecurity and the facilities and welfare of the Malaysian Armed Forces (MAF). He said that this was done to enhance the readiness of the country's defence assets to the highest level and to strengthen territorial sovereignty, citing as an example, a LOI to Mildef International Technologies Sdn Bhd for the procurement of 136 units of Type A Armoured Vehicles and Infrastructure worth RM1.88bil. He said this was important in efforts to strengthen the readiness of the MAF assets to the maximum level and to support the development of defence capacity and the strengthening of local industry capabilities. The minister also said the empowerment of MAF's capabilities is also being carried out by ensuring that assets are always in good condition through the enhancement of existing asset capabilities. 'Under this aspect, among the contracts that have been sealed include the Maintenance and Repair Contract for the Prime Minister's Class Submarine worth RM1.02bil and the obsolescence management service procurement contract for KD Perdana worth RM48mil,' he said.
The Star
22-05-2025
- Politics
- The Star
Asean News Headlines at 10pm on Thursday (May 22, 2025)
Malaysia * Govt reviewing proposal to extend retirement age to 65, says Anwar * PKR polls: Members will keep party 'fresh' no matter the result, says Rafizi * No matter what happens, Rafizi will always be my friend, says Nurul Izzah * No further action on Teoh Beng Hock's death, says AG's Chambers * International cooperation needed for GLC investment probe, says MACC * National language important for country's development, says Anwar * PKR issues warning to Rafizi for listing preferred candidates * Housing Ministry submits MyKiosk documents to MACC * MACC in process of seizing late Daim's assets worth billions * Defence Ministry inks strategic arrangements worth RM11bil at Lima '25 * Navy buys US unmanned surface vehicle to boost maritime defence * Investigation into Pamela Ling's disappearance a police matter, says MACC * MACC to record statement from Ismail Sabri's former son-in-law * Arrest warrant issued against woman over fake post on royalty * Four bank officers among five held over RM11.3mil loan fraud * MACC to scrutinise report and documents submitted on MyKiosk 2.0 project * Housewife loses hundreds of thousands in online investment scam * FRU Crash: Four personnel in stable condition * Perhilitan expects elephant sanctuary in Gerik to be operational by 2030 * Police detain woman linked to acid attack in Bachok Singapore * News Analysis - Singapore's new crop of office-holders largest since 2001, reshuffle provides for minority succession in Cabinet * Jail for man in Singapore who used bogus wine investment scheme to pocket S$12.67mil of investors' funds * China woman in Singapore who duped firm into delivering metal sheets worth nearly S$7mil gets 9½ years' jail * Six men in Singapore to be charged over child sexual exploitation offences, including commercial sex with a minor * Man in Singapore who sexually assaulted stepdaughter despite wife's warning gets jail, caning * Beijing slams video posted by US embassy in Singapore about South China Sea * Missing for two years, wife of former Singapore basketball coach confirmed dead in Japan * Making stylish 'cat cottages' a labour of love for Singapore woman * Singapore keeps 2025 growth forecast at 0% to 2%, though outlook 'improved slightly' from trade truces * No sharp turns in Singapore PM's first post-election Cabinet, but leadership shifts afoot: Analysts * Lady Gaga spices things up at food centre * Wong sticks with 'experienced hands' Indonesia * Clashes erupt during tuition fee protest at Papua university in Indonesia * Convicted Indonesian military general set to get key finance ministry post * Police arrest six members of viral incest-promoting Facebook group * Indonesia set for more rate cuts on growth view: Analysts Thailand * Thai ex-PM Yingluck ordered to pay US$305mil in damages over rice scheme * Yingluck's lawyers push for retrial in rice pledging case fight * Yingluck speaks out after court orders over US$305mil compensation * Malaysia and Thailand to enhance power grid interconnection facilities * Rescue efforts delayed by underground structures at Bangkok metro site * Thai govt drives 'Diwali 2025' festival to boost Indian tourism in Thailand * Three arrested in Thailand for allegedly swindling tourists with fake hotel bookings * Rock star jailed on gun, drug charges * Top city for tourist fraud Philippines * Philippines says China Coast Guard fired water cannon, 'sideswiped' govt vessel * Philippine Senate invites House prosecutors to Sara Duterte impeachment trial * Philippines' Marcos asks cabinet secretaries to resign in government reset Vietnam * Vietnam's poultry industry faces major challenges amid weak value chain linkages * Vietnam boosts rice trade through 2030 with new measures * Eric Trump attends groundbreaking event for US$1.5bil Vietnam resort * Beauty queen arrested for fibre gummy fraud Myanmar * Myanmar ex-general slain in attack claimed by anti-coup fighters * 'I saw a ship dropping many people into the sea': India accused of returning Rohingya refugees to Myanmar Cambodia * Belt and Road Initiative-backed industrial zone in Cambodia celebrates entry of over 200 enterprises * Cambodia's first helicopter relocation of endangered banteng deemed a success * Cambodia, Indonesia strengthen joint efforts to fight transnational crime Laos * Laos moves to raise vaccine awareness, boost immunisation coverage * Asean-Korea Centre boosts trade ties in Laos and Thailand Brunei * Stronger commitment urged to elevate Malay, Indonesian languages in Brunei * Brunei's economic outlook remains stable: Research house Aseanplus * Chinese Premier Li Qiang to attend Asean-GCC Summit in Malaysia * Man stabs three police officers in South Korea: Yonhap * Two Japanese soldiers confirmed killed in training plane crash * Bangladesh's interim government 'undermining' freedoms: rights group * Taiwanese singer Jeffrey Kung marries Malaysian girlfriend, to hold wedding in Putrajaya * India, Pakistan expel High Commission officials * 19 trapped in southwest China landslides * No booze, no bouquets: China tightens frugal code for officials * Malaysia welcomes joint statement calling for resumption of humanitarian aid in Gaza * HK actor Ai Wai says wife has died at 61, over a week after plea for liver donor * Japan taxi driver suspected of raping 50 women: Reports * Stain of martial law bid deters use of South Korea Yoon's office * Pro-skateboarder from China seriously hurt after stunt goes awry * Chow aims for Penang govt to have RM1bil reserves by end of his term * Massive floods strand over 50,000 in eastern Australia * Pakistan will not get water over which India has rights, India PM Modi says * Computex 2025: Five takeaways from Asia's biggest AI tech show * China's 'vegetable capital' to test farming know-how in UAE's harsh deserts * New deal with Asean to lift free trade * China bride goes viral for angelic beauty, hails from family renowned for stunning looks * Chinese drone maker EHang sees flying taxis take off by 2030 on the mainland * AirAsia formalises RM99.5mil charter service contract with Malaysian armed forces * Malaysia will continue to support regional digital development, AI, says Anwar * Did China just take the lead in race for space-based AI computing dominance? * China and Pakistan reaffirm ironclad ties in FM Dar's first trip after conflict with India * Japan's Ishiba calls for closer weapons development with allies * 'Thrift is honourable': Chinese officials made to economise for the economy * North Korea fires multiple cruise missiles, South Korea says * Asean Summit 2025: PLUS advises highway users to plan ahead due to road closures * Asian equities track Wall St sell-off as US deficit fears grow * Bursa investors await fresh leads as corporate results underway, US debt discussions weigh * North Korean leader Kim Jong Un condemns warship accident as 'criminal' * Barbie Hsu's ex, 44, holds wedding celebration with new wife, 26 – guests receive Bulgari gifts, porcelain keepsakes * Ringgit opens firmer against US$ on weaker US economic data * Three dead in Australia after torrential rain ravages rural towns * US$500mil for WHO over the next five years
The Star
22-05-2025
- Business
- The Star
Defence Ministry inks strategic arrangements worth RM11bil at Lima '25
LANGKAWI: The Defence Ministry signed 40 contracts or Letters of Acceptance (LOA), Letters of Intent (LOI), and Memoranda of Understanding (MOU), worth RM11bil, with selected strategic partners during the Langkawi International Maritime and Aerospace Exhibition 2025 (LIMA'25). Defence Minister Datuk Seri Mohamed Khaled Nordin said these contracts involved 40 LOA, two LOI worth over RM30mil, to companies that have been awarded procurement contracts by MINDEF from the end of 2023 to date, and six MoUs between the ministry and selected strategic partners. "However, the total value of the contracts also includes 45 other procurement contracts worth between RM10mil and RM30mil signed previously," he said after the signing and handover ceremony of the contracts, LOA, LOI, and MoU at the Mahsuri International Exhibition Centre (MIEC) here on Thursday (May 22). Mohamed Khaled said the procurement amount increased by about RM1 billion compared to around RM10.1bil, with 43 documents, signed at LIMA '23. All those acquisitions, he said, involve five main areas, namely the acquisition of strategic assets for land, maritime, air defence, cybersecurity, and the facilities and welfare of the Malaysian Armed Forces (MAF). He said that this was done to enhance the readiness of the country's defence assets to the highest level and to strengthen territorial sovereignty, for example, through a LOI to Mildef International Technologies Sdn Bhd for the procurement of 136 units of Type A Armoured Vehicles (KJA) and Infrastructure worth RM1.88bil. He said this is important in efforts to strengthen the readiness of the MAF assets to the maximum level and to support the development of defence capacity and the strengthening of local industry capabilities. He said that the empowerment of MAF's capabilities is also being carried out by ensuring that assets are always in good condition through the enhancement of existing asset capabilities. "Under this aspect, among the contracts that have been sealed include the Maintenance and Repair Contract for the Prime Minister's Class Submarine, worth RM1.02bil, and the obsolescence management service procurement contract for KD Perdana, worth RM48mil," he also said. Empowering the capabilities of the MAF is also important to address non-traditional threats through strengthening national cybersecurity and telecommunications technology such as X-Band Satellites and leasing "Secure Satellite Communication Channels". He added that procurement also involves development and research, including the use of artificial intelligence (AI) and new technologies while emphasising aspects of well-being. - Bernama
