<div class=newsTextDataWrapInner><p>PARIS (May 12): Leading healthcare companies Pfizer and AstraZeneca announced on Sunday,&nbsp;new investments in France worth a total of nearly US$1 billion, ahead of the start of this year's annual "Choose France" business summit.</p></div>

<div class=newsTextDataWrapInner><p>Pfizer said it would invest 500 million euros (US$538.5 million) in France to build up its research and development work in the country, while AstraZeneca announced an investment of US$388 million for its site at Dunkirk.</p></div>

<div class=newsTextDataWrapInner><p>Their investment pledges came as French President Emmanuel Macron prepared to kick off on Monday, the annual "Choose France" event, aimed at wooing big overseas businesses and investors.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>France announced earlier on Sunday, 100 new jobs in Paris at Wall Street bank Morgan Stanley;&nbsp;and investments from other firms, such as German aviation company Lilium.</p></div>

<div class=newsTextDataWrapInner><p>Macron wants to burnish Paris' role as a top European business capital, although it has traditionally lagged New York and London on a global scale.</p></div>

<div class=newsTextDataWrapInner><p>The closely watched Z/Yen survey of global financial centres, published in March, ranked New York as the world's top financial centre, with London in second place. The survey ranked Paris in the 14th position.</p></div>


PARIS (May 12): Leading healthcare companies Pfizer and AstraZeneca announced on Sunday, new investments in France worth a total of nearly US$1 billion, ahead of the start of this year's annual "Choose France" business summit.

Pfizer, AstraZeneca announce new investments of nearly US$1b in France

A Michigan farmworker who tested positive for bird flu is just the second person to have been infected since an outbreak in US cattle appeared in March. Surveillance of sewage suggests the virus may be more widespread among dairy cows than reported, raising workers’ risk.

Bird flu is more widespread among dairy cows, sewage tests suggest

For the first time since the financial crisis, investors in top-rated bonds backed by commercial real estate debt are getting hit with losses.

Buyers of the AAA portion of a US$308 million (RM1.44 billion) note backed by the mortgage on the 1740 Broadway building in midtown Manhattan got less than three-quarters of their original investment back earlier this month after the loan was sold at a steep discount.

Losses pile up in top-rated bonds backed by commercial real estate debt

Malaysia and Hong Kong have agreed to collaborate in the field of technical and vocational education and training (TVET) as well as the economy for mutual benefit.

Malaysia, Hong Kong agree to collaborate on TVET, economy

Malaysian Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi has hailed as very special the 50 years of strong ties between Malaysia and China.

Malaysia, China enjoy strong ties, says DPM

British American Tobacco (Malaysia) Bhd (KL:BAT), or BAT Malaysia, posted a 34.46% year-on-year (y-o-y) lower net profit for the first quarter of 2024, dragged down by higher operating expenses due to ongoing investments as the tobacco group transitions towards a multicategory business, coupled with inflationary pressures and higher cost of vapour products.

BAT Malaysia posts over two-decade-low profit in 1Q, declares 10 sen dividend

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.

Sime Darby Property, Sime Darby, Axis REIT, Public Bank, YTL Corp, KLCCP, BAT Malaysia, BFood, Velesto, Inari, MSM Malaysia

IndiGo announced plans to launch a premium product within months to woo India’s first-time business travellers after announcing a quarterly profit that beat analysts’ forecast.

IndiGo plans product for business fliers, profit beats estimates

Former KNM Group Bhd (KL:KNM) executive director Flavio Porro has been appointed as an executive director on AHB Holdings Bhd’s (KL:AHB) board.

Former KNM director Flavio Porro joins AHB’s board

Power and water company Malakoff Corp Bhd (KL:MALAKOF) is acquiring two companies involved in manufacturing racking systems and machinery for RM27 million cash.

Malakoff acquires stake in two RE companies for RM27 mil 

Dayang Enterprise Holdings Bhd (KL:DAYANG) logged RM27.9 million net profit for the first quarter ended March 31, 2024 (1QFY2024) compared to RM15.95 million net loss a year earlier, on higher vessels utilisation and improved daily charter rates.

Dayang logs RM27.9 mil net profit in 1Q amid higher utilisation, charter rates

<p>Sime Darby Property Bhd (KL:SIMEPROP) said on Thursday it will build and lease out a hyperscale data centre at its Elmina Business Park in a deal worth RM2 billion, marking the group’s entry into the data centre segment.</p>


Sime Darby Property to build, lease out data centre in RM2 bil deal

<p>Malayan Banking Bhd’s (KL:MAYBANK) digital banking platforms and debit card transactions were down for at least two hours from around 6pm on Thursday, according to customers who took their complaints to social media after being unable to access their accounts or conduct transactions.</p>


Maybank banking app, website, debit card transactions down for two hours on Thursday

<p>Axis Real Estate Investment Trust (KL:AXREIT), which mainly manages offices and warehouses, said on Thursday it is acquiring two automotive service centres worth RM125 million.</p>


Axis REIT to acquire two auto service centres for RM125m

<p>Great Eastern Holdings Ltd&nbsp;appointed EY as an independent financial adviser for the S$1.4 billion (RM4.88 billion) offer from Oversea-Chinese Banking Corp (OCBC) to buy the remaining stake the lender does not currently own, according to people familiar with the matter.</p>


Great Eastern taps EY to opine on OCBC’s S$1.4b offer — Bloomberg

<p>Inari Amertron Bhd (KL:INARI), Malaysia’s biggest outsourced semiconductor assembly and test firm, said on Thursday its net profit rose 29% in the third quarter from a year earlier thanks to higher loading volume and currency gains.</p>


Inari Amertron net profit rises 29% in 3Q, investing in new product line

<p>The Royal Malaysian Customs Department is set to launch a new approach known as Compliance Verification Audit (AViP) in July this year to promote self-compliance and encourage voluntary disclosure.</p>

<p>To reduce the risk of revenue leakages, the Customs Department changed its strategy from detecting leakages to preventing leakages this year, Customs Compliance Management Division director Almirulita Mohd Yusoff said in her opening speech at a seminar.</p>


Customs Department to launch Compliance Verification Audit in July

<p>Velesto Energy Bhd's (KL:VELESTO) first quarter net profit more than tripled year-on-year, driven by higher utilisation and average daily charter rates for jack-up rigs.</p>


Velesto's 1Q earnings more than triple on higher rig utilisation, charter rates

<p>The implementation of e-Invoice for Micro, Small and Medium Enterprises (MSMEs) will begin on July 1, 2025, and not this Aug 1, according to the Inland Revenue Board (LHDN).</p>

<p>LHDN clarified that the first phase of e-Invoice implementation on Aug 1 is only applicable to companies with annual turnover or revenue exceeding RM100 million.</p>


Implementation of e-Invoice for MSMEs to begin on July 1, 2025

<p>YTL Power International Bhd (KL:YTLPOWR) posted a 34.5% year-on-year increase in net profit for its third financial quarter ended March 31, 2024 (3QFY2024), mainly driven by its power generation and investment holding segment, which houses its data centre development operation.&nbsp;</p>


Power generation, investment holding segments help lift YTL Power 3Q net profit by 34%

<p>British American Tobacco (Malaysia) Bhd (KL:BAT), or BAT Malaysia, posted a 34.46% year-on-year (y-o-y) lower net profit for the first quarter of 2024, dragged down by higher operating expenses due to ongoing investments as the tobacco group transitions towards a multicategory business, coupled with inflationary pressures and higher cost of vapour products.</p>


<p>Sugar manufacturer MSM Malaysia Holdings Bhd (KL:MSM) reported on Thursday its second consecutive quarter of net profit as better selling prices and utilitisation offset higher production costs.</p>


MSM reports second consecutive quarter of profit as better prices, volume trump costs

<p>YTL Corp Bhd (KL:YTL) posted a 19.8% increase in net profit for its third financial quarter ended March 31, 2023 (3QFY2024), as all of its business segments — construction, cement and building materials, property investment and development, management services and others, hotels, and utilities — reported higher earnings.</p>


YTL Corp's 3Q net profit rises 20% on higher contribution from all business segments

<p>Berjaya Food Bhd (KL:BJFOOD) or BFood incurred a net loss of RM29.76 million for the third quarter ended March 31, 2024 (3QFY2024), its second straight quarterly loss amid lower revenue because of an ongoing boycott of its franchised coffee chain Starbucks Malaysia over the current Middle East conflict.</p>


Berjaya Food incurs second straight quarterly loss in 3Q, expects improved performance in next quarter

<p>Thailand's Constitutional Court accepted a complaint on Thursday seeking to remove Prime Minister Srettha Thavisin over his cabinet appointment of a lawyer who served jail time, in a new legal setback for the government.</p>


Thai court accepts complaint seeking PM's removal over minister's appointment

<p>1Malaysia Development Bhd (1MDB) has filed another lawsuit against PetroSaudi International Ltd (PSI) executive Patrick Mahony, this time seeking US$1.83 billion (RM8.9 billion) from the Swiss-British businessman for alleged dishonest assistance in the 1MDB scam.</p>


1MDB files another suit against PSI exec Patrick Mahony

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<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.</p>


FBM KLCI increases 0.44% to 1,629.18 on May 23, 2024

<p>Focus Point Holdings Bhd (KL:FOCUSP), which sells eyeglasses and runs a bakery chain, expects a boost in retail sales thanks to partial pension fund withdrawals, while margins may expand this year.</p>


Focus Point expects partial pension withdrawals to boost consumer spending

<p>(May 23): Goldman Sachs Group Inc. updated its longer-term US fiscal outlook Wednesday, with its new projections seeing a key metric of debt sustainability head to historically extreme levels.</p>

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<p>“The outlook for US fiscal sustainability has become m...

Goldman now sees US debt-cost ratio rising into danger zone

<p>Penang has set up the Penang Chip Design Academy to bolster its integrated circuit (IC) design and digital sectors in the state.</p>

<p>The academy is a key component for Penang’s Science, Technology, Engineering and Mathematics (STEM) Talent Blueprint, which is slated to be launched in June this year, said InvestPenang, the state's investment arm, in a statement on Thursday.</p>
