Corporate News

Rex Industry’s takeover turns unconditional

PETALING JAYA: Rex Industry Bhd's takeover offer by its new major shareholder for the company's remaining shares and warrants has turned unconditional, after the group's shareholding surpassed the 50% threshold.

Banking

Anwar: OPR cut to 2.75% is prudent, proactive measure

KUALA LUMPUR: Bank Negara Malaysia's (BNM) decision to lower the Overnight Policy Rate (OPR) by 25 basis points to 2.75 per cent is a prudent and proactive measure amid global economic uncertainties.

Banking

Maybank cuts base rate and BLR by 25 basis points

KUALA LUMPUR: Malayan Banking Bhd (Maybank) will will reduce its base rate (BR) and base lending rate (BLR) by 25 basis points effective July 11, in line with the reduction in the Overnight Policy Rate today.

Banking

Affin, Alliance Bank to cut lending and deposit rates after OPR reduction

KUALA LUMPUR: Affin Bank Bhd, Affin Islamic Bank Bhd, and Affin Hwang Investment Bank will lower their loan and financing reference rates by 25 basis points (0.25%), following Bank Negara's cut in the Overnight Policy Rate (OPR) from 3% to 2.75% on July 9.

Corporate News

LGMS to acquire 27% stake in Antarex for RM23mil

PETALING JAYA: Cybersecurity service provider LGMS Bhd is proposing to acquire a 27% stake in information technology company Antarex Holdings Sdn Bhd (AHSB) for RM22.68mil.

Forex

Ringgit falls against greenback as US tariff concerns dominate sentiment

KUALA LUMPUR: The ringgit closed lower against the greenback today as concerns over US tariffs continued to dominate market sentiment, an analyst said. 

Corporate News

A1 A.K. Koh Group reports RM2.7mil 3Q net profit

PETALING JAYA: ACE Market-bound A1 A.K. Koh Group Bhd has reported a net profit of RM2.7mil, on revenue of RM20.13mil for its third quarter ended March 31, 2025.

Banking

Public Bank revises lending rates effective July 11 after OPR cut

KUALA LUMPUR: Public Bank Bhd will reduce its standardised base rate (SBR), base rate (BR) and base lending rate (BLR) / base financing rate (BFR) by 0.25% effective July 11.

Markets

Wasco Greenergy eyes Main market listing

PETALING JAYA: Renewable energy company Wasco Greenergy Bhd is eyeing a listing on the Main Market of Bursa Malaysia.

Corporate News

Econpile wins RM27mil construction job

PETALING JAYA: Econpile Holdings Bhd has received a letter of award from Bayu Melati Sdn Bhd to undertake piling and pile cap works for two 37-storey serviced apartments blocks (1,155 units) in Petaling Jaya, Selangor, worth RM27mil.

Banking

MPC pre-emptively cuts OPR to preserve steady growth path, says Bank Negara Governor

KUALA LUMPUR: Following is the transcript of Bernama's email interview with Bank Negara Malaysia (BNM) Governor Datuk Seri Abdul Rasheed Ghaffour on the Overnight Policy Rate (OPR).

Banking

RHB, Bank Islam to cut rates after OPR move

KUALA LUMPUR: RHB Banking Group will reduce its base rate (BR) and standardised base rate (SBR) by 25 basis points (bps), effective July 11, 2025 in line with Bank Negara's recent cut to the Overnight Policy Rate (OPR).

Markets

FBM KLCI ends lower as banking stocks slip after OPR cut

KUALA LUMPUR: The FBM KLCI extended its decline for a third straight session, weighed down by banking stocks following Bank Negara's cut in the overnight policy rate (OPR).

Aviation

AirAsia talks with investors near conclusion, says deputy CEO

SINGAPORE: Budget airline AirAsia is nearing the conclusion of talks with potential strategic investors as the Malaysia-based airline approaches the end of its restructuring process, Deputy Group CEO Farouk Kamal said on Wednesday.

Logistics

DHL to solidify Malaysia presence amid US tariffs

SHAH ALAM: Logistics outfit DHL is optimistic about solidifying its growth in Malaysia despite the United States announcing a 25 per cent reciprocal tariff on Malaysia.

Markets

Markets becoming desensitised to Trump's tariff shifts, CGS International CEO says

SINGAPORE: Global financial markets are becoming "desensitised" to U.S. President Donald Trump's tariff decisions, according to CGS International Securities Group Chief Executive Carol Fong.

Banking

Bank Negara cuts OPR to 2.75% in first rate move since May 2023

KUALA LUMPUR: Bank Negara has cut the Overnight Policy Rate (OPR) by 25 basis points to 2.75% at its July Monetary Policy Committee (MPC) meeting, marking the first rate adjustment since May 2023.

Corporate News

IHH Healthcare eyes Indonesia, Vietnam for expansion

IHH Healthcare Bhd. is looking to potential new markets Indonesia and Vietnam as the Malaysian hospital operator continues building scale to offset rising healthcare costs in the region. 

Markets

Dollar firm, Asian stocks mixed as traders ponder tariff outlook

TOKYO:  The U.S. dollar traded close to a 2-1/2-week high versus major peers on Wednesday while copper hit an all-time peak overnight after U.S. President Donald Trump broadened his global trade war by saying he would impose a 50% tariff on the metal.

Economy

US tariffs pose danger to Asean countries

THE United States has announced new tariffs for over half of the member states of the Association of Southeast Asian Nations, China's largest trading partners, which analysts said is a calculated escalation of Washington's efforts to reconfigure global supply chains away from Beijing.