Fresh Malaysian durian fruit is expected to be exported to China!
Chinese Premier Li Qiang's visit to Malaysia welcomed the happy news that fresh Malaysian durian can be exported to China!
Li Qiang arrived in Malaysia last night and began several trips today, including watching China and Malaysia jointly sign 14 memorandums of understanding and cooperation agreements. Among them, China's General Administration of Customs and the Malaysian Ministry of Agriculture and Food Security signed the “Phytosanitary Requirements Agreement for the Export of Fresh Malaysian Durian to China”.
The relevant signatures have also confirmedNanyang Siang PaoAn earlier report. This newspaper reported on the 3rd of this month that Li Qiang is expected to announce the export of fresh fruit durian to China during his visit to China this month to celebrate the 50th anniversary of the establishment of diplomatic relations between Malaysia and China. This will be the good news that China's durian industry is looking forward to, and a new milestone in “durian diplomacy” between China and China.
Prime Minister Dato' Sri Anwar and Li Qiang were at the Prime Minister's office today to witness the exchange of the agreement between Chinese Ambassador to Malaysia, Ouyang Yujing, and the Malaysian Minister of Agriculture and Food Security, Dato' Sri Mohd Shabou.
The agreement sets out the precautions to be taken by orchards and packaging plants that intend to export fresh durians to China, and also clarifies that the Ministry of Agriculture and Food Security will carry out phytosanitary checks.
The agreement signed by Malaysia and China was granted by China's General Administration of Customs (GACC) to grant Malaysia the right to export fresh durians to China under the conditions stipulated in the protocol.
Other departments involved in signing and exchanging memorandums of understanding include the Ministry of Investment, Trade and Industry, the Ministry of Finance, the Ministry of Housing and Local Government, the Ministry of the Interior, the Ministry of Science, Technology and Innovation, higher education...

Top gloves are finally making money!
After 7 consecutive quarters of losses, $TOPGLOV(7113.MY)$ Top Glove's net profit for the third quarter of the 2024 fiscal year finally improved, with a deposit of RM50.67 million.
Meanwhile, revenue for the quarter was recorded at RM636.87 million, an increase of 20% over the previous year.
Looking at the first nine months, revenue declined slightly by 5.64% to RM1,680.67 million; cumulative losses also narrowed sharply from RM463.49 million a year ago to RM58.23 million.
Lin Jiangyuan, managing director of Top Gloves, believes that the company has successfully overcome the extremely challenging business environment, is now more powerful, streamlined and efficient, and has sufficient capacity to regain market share and regain a leading position.
However, the stock price of Top Glove hasn't improved much.
As of 3:30 p.m., the top gloves were reported at RM1.14, down 3 cents or 3.42%, with a turnover of 105.83 million shares, making it the third most popular stock.
Source: Nanyang Siang Pao
Disclaimer: This content is for informational and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation endorsement. The reader shall bear any risk and responsibility arising from reliance on this content. Always conduct your own independent research and evaluation and consult professional advice if necessary before making any investment decisions. The author and related participants are not responsible for any loss or damage resulting from the use or reliance on the information contained in this article.

Foreign capital has flowed into Malaysian stocks for the second week in a row. Last week's net purchase amount was RM22.4 million. Compared with the previous week's net purchase of RM535 million, the inflow has slowed.
According to MIDF Research's latest capital flow report, foreign investors bought Malaysian stocks on a 3-day trading day last week; of these, Thursday recorded the largest net purchase amount of RM197.4 million.
Foreign investors only turned net sales last Wednesday and Friday, selling 82.7 million and RM58.1 million shares, respectively.
Looking at last week, the top three sectors favored by foreign investment were mainly utilities (RM408 million), industrial products and services (RM142.8 million), and technology (RM108 million).
The net sell-off sectors include financial services (RM309 million), farming (RM126.2 million), and telecommunications and media (-RM77.2 million).
As far as last week was concerned, the biggest net sellers were retail investors, which sold off RM176.5 million shares.
On the other hand, despite two consecutive weeks of net sales by local institutions, the sell-off was drastically reduced, with a net sale of RM25.9 million shares.
In terms of participation, the average daily domestic trading volume (ADTV) surged 26.9% for retail investors and 14.1% for local institutions last week; foreign investment fell slightly by 4.8%.
Net share purchases by foreign investors last week
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$MAHSING(8583.MY)$
$MISC(3816.MY)$
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89 Malaysian companies are on the ASEAN Top 500 list
A total of 89 Malaysian companies were selected in the 2024 ASEAN 500 published by “Fortune” magazine. Among them, the Malaysian stock market leader $MAYBANK(1155.MY)$Bank of Malaysia is a well-deserved local leader, ranking 17th in ASEAN with revenue of US$14.15 billion (approximately RM66.7 billion).
The ones that followed closely were, respectively $TENAGA(5347.MY)$National energy and $SIME(4197.MY)$Mori Nami.
At the same time, China's strongest performer is still in the financial sector. A total of 10 financial companies are on the list, 8 of which are banks.
According to a statement issued by Fortune, Bank of Malaysia ranked 11th among the top 20 companies in terms of profitability. $CIMB(1023.MY)$CIMC International ranked 17th, as far as $PBBANK(1295.MY)$Public Bank is ranked 19th.
On the other hand, well-known industrial developers -- $MAHSING(8583.MY)$Ma Xing Group also made it into the ASEAN Top 500, ranking 425th with revenue of 571 million US dollars.
According to the world-renowned business magazine, the ASEAN Top 500 list covers companies from the seven Southeast Asian countries of Indonesia, Thailand, Malaysia, Singapore, Vietnam, the Philippines and Cambodia.
Among them, Indonesia was on the list with 110 companies, making it the country with the most companies on the list; Thailand followed, with 107 companies on the list; China...

The fire did not raise concerns. Genting Shuangxiong stabilized in early trading
The Genting Highland fire incident last week did not seem to have raised investors' concerns. Genting Shuangxiong's stock price stabilized when it opened this morning.
As of 9:40 a.m. $GENTING(3182.MY)$Genting reported RM4.69, flat.
As for $GENM(4715.MY)$In Genting Malaysia, it was reported at RM2.57, a slight increase of 1 cent.
According to media reports, a fire broke out at Genting Tiancheng World theme park last Friday and was extinguished in the evening of the same day.
Up to now, the fire has not caused any casualties.
According to initial reports from the Fire and Rescue Service, the fire occurred on the second floor of the building, and then the fire quickly spread to the fourth floor.
Source: Nanyang Siang Pao
Disclaimer: This content is for informational and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation endorsement. The reader shall bear any risk and responsibility arising from reliance on this content. Always conduct your own independent research and evaluation and consult professional advice if necessary before making any investment decisions. The author and related participants are not responsible for any loss or damage resulting from the use or reliance on the information contained in this article.

$PIE(7095.MY)$
The stock price of PIE (PIE, 7095, Main Board Industrial Products) skyrocketed on Friday and was questioned by the Malaysian Stock Exchange on Unusual Market Transactions (UMA), but the company indicated that it was unaware of the stock price changes.
Not long after the opening of the market this morning, the stock price of Guangyu Industrial continued to rise. At one point, it soared to RM1.09 or 17.6% to RM7.28, a new high since listing.
As a result, the company was questioned by UMA by the Malaysia Stock Exchange at noon.
The stock retracted slightly after midday trading and eventually closed at RM7.08. It still surged 89 cents, or 14.4%, throughout the day. The trading volume reached 2.51 million shares, almost three times the average value of the past 4 weeks.
The company also responded to UMA after closing that it was unaware of abnormal fluctuations in the company's stock price, and that there were no unannounced corporate activities.
Questioned by MSWG
In April of this year, Guangyu Industrial also experienced a sharp rise over the past few days. Only then did Kennag Investment Bank release a report saying that the company received a large artificial intelligence server customer.
Guangyu Industrial only announced to the exchange later that it had received the relevant contract. The incident also raised questions from the Minority Shareholders' Rights Supervisory Authority (MSWG) at the time.
At the company's shareholders' meeting in May, MSWG asked why the company did not announce it to the public more than 2 weeks after receiving the contract, and stated that according to the listing regulations, important information must be released immediately to prevent issues such as insider trading and preemptive trading.
According to a briefing after MSWG,...

$GENM(4715.MY)$
$GENTING(3182.MY)$
A fire broke out on Skylight Avenue in Genting!
The incident occurred at about 5 p.m. A video taken and shared by netizens on the scene. The location of the fire was close to the 3rd floor of Bar Street, and heavy smoke could be seen from a building.
Genting security personnel blew a whistle to issue a warning and evacuate the crowd as a matter of urgency. Rescuers are still in the process of rescuing them.
The online video is believed to have been filmed by people indoors or on a cable car. The footage also shows that a building near Genting Tiancheng World theme park caught fire, bursting with flames, and dark smoke.
In the video, people were also screaming, saying that explosions were heard at the scene, and the fire was getting more intense.
As of 5:30 p.m., it was not yet possible to determine the exact location of the fire and the number of casualties.
Source: Nanyang Siang Pao
Disclaimer: This content is for informational and educational purposes only, and does not constitute any specific investment, investment strategy, or recommendation endorsement. The reader shall bear any risk and responsibility arising from reliance on this content. Always conduct your own independent research and evaluation and consult professional advice if necessary before making any investment decisions. The author and related participants are not responsible for any loss or damage resulting from the use or reliance on the information contained in this article.

Traders evaluate more data showing that inflationary pressure may be easing, $S&P 500 Index(.SPX.US)$The S&P 500 index rose to close for the fourth consecutive trading day.
S&P rose 12.71 points, or 0.23%; $Nasdaq Composite Index(.IXIC.US)$The Nasdaq index rose 59.12 points, or 0.34%. Both S&P and NASDAQ set closing records for the fourth time in a row. $Dow Jones Industrial Average(.DJI.US)$The Dow Jones Industrial Average did not perform well, falling 65.11 points, or 0.17%.
The S&P and NASDAQ hit record highs this week, boosted by the latest data on cooling inflationary pressure.
The Industrial Producer Ex-Factory Price Index (PPI) decreased by 0.2% per month in May. Economists surveyed by “Dow Jones” expect growth of 0.1%. The consumer price index (CPI) rose less than expected in May, the day before the report was released.
The PPI was also released after the Federal Reserve's policy decision. The Federal Reserve kept interest rates unchanged, but indicated progress in inflation. Having said that, the Federal Reserve reduced the forecast for 2024 interest rate cuts to 1 time from the previous 3 times.
Will the stock market continue to rise?
Hill, head of portfolio management at Horizon Investments, said, “We can eliminate the possibility of interest rate hikes starting here. This will support stocks...

Overwhelmed by inflation? 68% of Chinese people think Malaysia is in recession
According to the survey results of the global market research company Ipsos (Ipsos), up to 68% of Chinese people believe that the Malaysian economy is falling into recession. What is even more worrisome is that 32% of respondents believe that the cost of living crisis in Malaysia is more serious than in other countries.
Ipsos today released “How do Malaysians view current inflation and economic conditions?” Inflation monitoring report.
According to the report, out of 10 Malaysians, only 2 (21%) think they are doing well, 53% think life is just going well, and 24% think life is very difficult. This ratio is far below the 40% mark in Singapore and Indonesia.
Despite the current negative economic sentiment, around 45% of Malaysians still believe that inflation will return to normal levels between 2024 and 2025. However, compared to the more optimistic expectations of Indonesians, Malaysians are still cautious about their outlook for the future.
The report is the result of a survey of more than 500 Malaysian adults aged 18 and over, and 20,801 online adults under 75 in 33 countries or regions from March 22 to April 5 this year.
Compared to Malaysia, other Southeast Asian respondents were more optimistic about the country's economic situation.
There is a clear difference between the views of Malaysians on the country's economy and economic data, so people need to get more clear and accurate information on a regular basis to ease their concerns about their own and the country's financial situation.
Seen from another perspective, although the composite index $FTSE Bursa Malaysia KLCI Index(.KLSE.MY)$And...