Business

Trump says 80% tariff on Chinese goods "seems right"

U.S. President Donald Trump said on Friday that 80% tariffs on Chinese goods "seems right" as representatives prepared for weekend talks to contain a trade war between the world's two largest economies.

Corporate News

HeiTech Padu plans RM43.7mil fundraising for NIISe project

KUALA LUMPUR: HeiTech Padu Bhd plans to raise up to RM43.7mil through a private placement of new shares, mainly to fund the National Integrated Immigration System (NIISe) project and for working capital needs.

Corporate News

3REN subsidiary wins RM7.14mil contract

KUALA LUMPUR: 3REN Bhd's wholly-owned subsidiary, Sophic Automation Sdn Bhd, has secured a RM7.14mil contract to supply a set of intelligent automated material management systems integrated with vision inspection and robotics for a semiconductor manufacturer.

Corporate News

ES Ceramics CEO Wong Fook Lin steps down, reappointed as executive director

PETALING JAYA: ES Ceramics Technology Bhd's group CEO, Wong Fook Lin, 59, has relinquished his role and has been reappointed as executive director of the company.

Corporate News

Yoong Onn reports fire at Singapore subsidiary's factory and warehouse

KUALA LUMPUR: Yoong Onn Corp Bhd has reported that a fire broke out at the factory and warehouse of its 60%-owned subsidiary, T.C. Homeplus Pte Ltd, in Singapore on May 9.

Markets

Eco-Shop fixes IPO share price at RM1.13

PETALING JAYA: The price of Eco-Shop Marketing Bhd's shares for its initial public offering (IPO) has been fixed at RM1.13 a piece.

Forex

Ringgit ends lower against US dollar ahead of US-china trade talks

KUALA LUMPUR: The ringgit closed lower against the US dollar on Friday as news about a possible trade deal between the United States and China by the end of the week spurred interest in the greenback.

Corporate News

Pentamaster names Hon Tuck Weng as new CEO

KUALA LUMPUR: Pentamaster Corp Bhd has appointed Hon Tuck Weng as its chief executive officer, effective May 9, 2025.

Corporate News

Sapura Energy clears air on MACC investigation

KUALA LUMPUR: Sapura Energy Bhd has assured its clients, partners, and stakeholders that it is not involved in the investigation by the Malaysian Anti-Corruption Commission (MACC), despite recent news reports suggesting a connection to the company.

Corporate News

Perak Transit inks 15-year MoU with MPKangar to manage Terminal Perlis Sentral

KUALA LUMPUR: Perak Transit Bhd's wholly-owned unit, Perlis Sentral Sdn Bhd, has entered into a memorandum of understanding (MoU) with Majlis Perbandaran Kangar (MPKangar).

Markets

FBM KLCI ends higher amid global trade optimism, ringgit falls

KUALA LUMPUR: The FBM KLCI ended Friday on a positive note as global trade talks lifted investor sentiment, though the ringgit weakened against the US dollar.

Banking

Bank Rakyat issues RM1bil senior sukuk wakalah

KUALA LUMPUR: Bank Rakyat has successfully issued a RM1 billion Islamic medium-term notes (IMTN) sukuk wakalah via special purpose vehicle (SPV) Imtiaz Sukuk II Bhd. 

Corporate News

Panasonic to cut 10,000 employees, expects to book US$900mil reform costs

TOKYO: Japan's Panasonic Holdings said on Friday it will cut 10,000 employees and expected to book structural reform costs of 130 billion yen ($896.06 million) this business year as part of a continuing management reform push of its group.

Forex

Ringgit, baht lead Asian FX lower as dollar firms on trade optimism

THE Malaysian ringgit and Thailand's baht led losses among subdued Asian currencies on Friday, as a firmer dollar weighed on sentiment, while regional shares steadied after a U.S.-UK trade deal sparked hopes for broader diplomatic progress.

Commodities

Gold rebounds on dip buying; US-China trade talks in focus

GOLD firmed on Friday on dip-buying after prices dropped earlier in the session, while markets turned their focus to U.S.-China trade talks due this weekend.

Investment

Investors looking beyond US scoop-up Asian funds

SINGAPORE/BENGALURU: Investors have been selling U.S. shares and piling into Asian equity funds, as the Trump administration's tariffs cast a cloud over the U.S. growth outlook and whether years of world-beating gains in U.S. markets may be drawing to an end.

Energy

Oil prices gain ahead of Sino-US trade talks

NEW DELHI: Oil prices were up on Friday, after rising about 3% in the previous session, as trade tensions between top oil consumers U.S. and China showed signs of easing and Britain announced a "breakthrough" trade deal with the United States.

Retail

China's manufacturing prowess makes Yiwu mecca for buyers

HANGZHOU: In a compact shop no larger than 10 square meters, Tao Yang, a vendor in Yiwu — a city in Zhejiang province known as "the world's supermarket" — keeps a well-used world atlas on her desk.

Corporate News

LREIT posts strong Q3 rental reversions

KUALA LUMPUR: Lendlease Global Commercial REIT (LREIT) reported a positive rental reversion of 10.4 per cent for its retail portfolio in the third quarter (Q3) ended March 31, 2025, with a healthy tenant retention rate of 87.9 per cent by net lettable area (NLA), despite a softer retail climate.

Property

Residential construction activity rises in 1Q25 with surge in completions, housing starts

KUALA LUMPUR: Construction activity in the residential property subsector recorded significant growth in the first quarter of 2025 (1Q 2025) where the number of completed units surged by 30.2 per cent to 9,329 units from 7,168 units in 1Q 2024.