Stock Market & Investment News
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KLCI rebounds 0.35%; breadth remains weak
KUALA LUMPUR: The FBM KLCI rebounded on Tuesday in volatile trade but the broader market remained weak with over 600 counters in the red. Read full story
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Scomi SGSB, Skill Johor partner to develop renewable energy
KUALA LUMPUR: Scomi Group Bhd’s (SGB) joint-venture company Scomi SGSB Sdn Bhd has entered into a memorandum of understanding (MoU) with Skill Johor Sdn Bhd (SJSB) to develop a renewable energy (RE) generation program in SJSB’s TVET Campus in Johor. Read full story
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CSH Alliance to acquire 55-acre land for EV business
KUALA LUMPUR: CSH Alliance Bhd has proposed to acquire three adjoining plots of industrial land totaling 55.3186 acres in Tanjung Malim, Perak for RM12mil cash. Read full story
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Ringgit ends marginally higher against US dollar
KUALA LUMPUR: The ringgit rebounded from two straight days of losses to end marginally higher against the US dollar today on renewed buying interest, said an analyst. Read full story
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Xin Hwa to acquire 79% stake in Micron Metal for RM19.75mil
KUALA LUMPUR: Xin Hwa Holdings Bhd has proposed to acquire a 79% stake in Micron Metal Engineering Sdn Bhd for RM19.75mil. Read full story
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Willowglen wins RM23.97mil contract in Sabah
KUALA LUMPUR: Willowglen MSC Bhd has secured a RM23.97mil contract from Majubina Resources Sdn Bhd. Read full story
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Mavcom investigating airlines for indiscriminate flight rescheduling
KUALA LUMPUR: The Malaysian Aviation Commission (MAVCOM) is investigating multiple complaints about airlines making indiscriminate changes to flight schedules without adequate notice provided to consumers. Read full story
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Crypto exchange KuCoin valued at US$10bil in latest funding round
BENGALURU: Cryptocurrency exchange KuCoin raised US$150 million in a series B funding round led by Jump Crypto, the company said on Tuesday, giving it a valuation of $10 billion. Read full story
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Serba Dinamik to seek leave from High Court for resolution of payment obligation
KUALA LUMPUR: Serba Dinamik Holdings Bhd (SDHB) is taking steps to seek leave from the High Court to allow the company to convene one or more court-convened creditors meeting to present one or more scheme(s) of arrangement to seek a constructive resolution to the company and its subsidiaries’ payment obligation. Read full story
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Wall Street opens higher after three-day slump
BENGALURU: Wall Street’s main indexes opened higher on Tuesday with investors buying into beaten-down banks and megacap growth stocks following a three-day sell-off on concerns over aggressive monetary tightening and slowing economic growth. Read full story
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