KUALA LUMPUR: Malaysia’s four largest telecommunications firms are seeking a majority stake in a state 5G agency, countering a proposal by the government to offer them minority ownership, according to a letter sent by the firms to the finance ministry. Read full story
KUALA LUMPUR: The ringgit closed lower today, hitting RM4.40 against the US dollar on global recession concerns, said an analyst. Read full story
KUALA LUMPUR: Petronas Gas Bhd (PetGas), which saw its net profit tumbled 20.5% to RM410.58mil in the first quarter ended March 31, has declared a first interim dividend of 16 sen per ordinary share. Read full story
KUALA LUMPUR: Integrated jewellery manufacturer and retailer Tomei Consolidated Bhd is still cautious in setting a target for the 2022 financial year on concerns over market sentiment due to the ongoing uncertainties. Read full story
KUALA LUMPUR: Tune Protect Group Bhd’s net loss narrowed to RM2.97mil in the first quarter ended March 31 (1Q) against a net loss of RM15.45mil a year ago. Read full story
KUALA LUMPUR: GIIB Holdings Bhd has terminated its suspended executive director, Wong Weng Yew following the investigation report pertaining to the charges of misconduct from the external independent auditor. Read full story
KUALA LUMPUR: Kobay Technology Bhd’s net profit more than doubled to RM15.1mil in the third quarter ended March 31 (3Q) from RM7.06mil a year ago. Read full story
KUALA LUMPUR: Dayang Enterprise Holdings Bhd has returned to the black with a net profit of RM13.76mil in the first quarter ended March 31 (1Q) against a net loss of RM27.54mil a year ago. Read full story
SHAH ALAM: The Selangor State Development Corporation (PKNS) expects to be able to record profits of up to RM300 million this year. Read full story
BENGALURU: McDonald’s Corp is selling its Russia business to its current licensee Alexander Govor and the restaurants would operate under a new brand, ending more than three decades of presence in the country following its invasion of Ukraine. Read full story
AN investment group chaired by former U.S. Vice President Al Gore on Wednesday launched a $1.7 billion fund to take minority stakes in private companies focused on what it called a sustainable future. Read full story
KUALA LUMPUR: Petronas Chemicals Group Bhd has inked a deal to acquire the entire equity interest in Perstorp Holding AB, a global speciality chemicals company, with Financière Forêt Sàrl, a company under European private equity firm PAI Partners, for EUR2.3bil (RM10.5bil) Read full story