<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 11): Media Chinese International Ltd (MCIL) said losses attributable to owners of the company may widen to between US$2 million (RM9.17&nbsp;million) and US$3 million for the first quarter ended June 30, 2023 (1QFY2024), from US$300,000 a year earlier.</p></div>

<div class=newsTextDataWrapInner><p>This is mainly due to the absence of one-off government grants and subsidies of US$1.4 million recognised in 1QFY2023, and lower turnover from the publishing and printing segment for the quarter under review, the group said in a filing with Bursa Malaysia on Friday (Aug 11).</p></div>

<div class=newsTextDataWrapInner><p>MCIL said it is issuing the profit warning to its shareholders and potential investors, based on a preliminary assessment of its unaudited consolidated management accounts and information currently available to the board.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Detailed financial information and performance of the group will be disclosed in the company’s unaudited consolidated financial results announcement for the three months ended June 30, 2023, which is expected to be published in late August,” it added.</p></div>

<div class=newsTextDataWrapInner><p>Shares in MCIL closed unchanged at 15.5 sen, valuing the group at RM261.5 million.</p></div>


Media Chinese International Ltd (MCIL) said losses attributable to owners of the company may widen to between US$2 million (RM9.17 million) and US$3 million for the first quarter ended June 30, 2023 (1QFY2024), from US$300,000 a year earlier.

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Australia's central bank warned on Thursday there was no quick fix to the country's housing shortage, which is pushing up prices and rents and adding to inflationary pressures.

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DUBLIN (May 16): IBM plans to hire up to 800 more people in Ireland to help build advanced software underpinned by AI technology, the biggest job announcement in the country's multinational sector this year, state investment agency IDA Ireland said on Thursday.

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The Asia-Pacific Economic Cooperation’s (Apec) gross domestic product (GDP) grew by 3.5% in 2023 compared to 2.6% in 2022.

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Russian President Vladimir Putin's Beijing visit on Thursday is likely to be light on hard deals but will mark the start of his new presidential term with a show of support from his most powerful political partner, Chinese counterpart Xi Jinping.

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Global corporate debt defaults more than doubled in April from March to their highest monthly tally since October 2020, according to a report from S&P Global Ratings.

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Shares of Apex Healthcare Bhd (KL:AHEALTH) on Thursday fell again and are on track for the worst day in nearly a year after the pharmaceutical company reported a 13% decline in first-quarter net profit.

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<p>KUALA LUMPUR (May 15): Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday:</p>


MAHB, Axiata, MyEG, Mitrajaya, Eupe Corp, Hume Cement, Apex Healthcare, Aeon Co, Vstecs, Kobay, Southern Steel, KNM

<p>The Ministry of Higher Education (MOHE) asserts that the proposal to open Universiti Teknologi Mara (UiTM) admission to non-Bumiputera students has never been discussed in any ministry or Cabinet meetings.</p>


Proposal to open UiTM to non-Bumiputera students was never discussed, says Zambry

<p>Rakuten Trade said trading in rubber glove stocks took the limelight on Wednesday, buoyed by the US tariff imposition on Chinese goods which will only take effect in two years.</p>


Analysts say glove stocks rally a knee-jerk euphoria, advise investors to stay vigilant

<p>Penang-based property developer Ewein Bhd (KL:EWEIN) is acquiring a company involved in the manufacturing of racking systems and machinery for about RM32 million.</p>


Ewein to acquire rackform company for RM32 mil

<p>Asian stock markets rallied on Thursday, buoyed by Wall Street's surge to all-time peaks overnight after a milder US inflation report raised expectations the Federal Reserve (Fed) will deliver at least two rate cuts this year.</p>


<p>Accountancy professionals must possess increasingly complex technical competencies in finance and accountancy, complemented by non-financial acumen, for Malaysia to achieve its digital transformation and digital economy goals.&nbsp;</p>


Accountancy professionals need to enhance technological skills — Deputy finance minister

<p>(May 16): Norway's central bank said on Wednesday that its executive board has decided to exclude three companies from its government pension fund over ethical concerns.</p>

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Norway sovereign wealth fund excludes three companies over ethical concerns

<p>Wall Street's three major indexes notched record closes on Wednesday with the benchmark S&amp;P 500 and the Nasdaq both advancing more than 1%, after a smaller-than-expected rise in consumer inflation bolstered investors' hopes for interest rate cuts by the Federal Reserve (Fed).</p>


Wall Street boasts record closes as inflation data fuels rate-cut bets

<p>Shares of AEON Co (M) Bhd (KL:AEON) surged to their highest in 20 months after the department store and mall operator reported a 50% jump in first-quarter net profit.</p>


<p>Southern Steel Bhd (KL:SSTEEL) posted its fourth consecutive quarter net loss for the third quarter ended March 31, 2024 (3QFY2024) due to lower average selling prices (ASP) and sales volume.</p>


Southern Steel posts fourth straight quarterly loss in 3Q, outlook to remain challenging

<p>Prime Minister Datuk Seri Anwar Ibrahim’s two-day inaugural official visit to Kazakhstan starting Thursday is expected to forge closer synergy in various sectors between the two countries, after 32 years.</p>


Anwar's visit to Kazakhstan to forge closer synergy, explore new areas of cooperation

<p>Shares of Mitrajaya Holdings Bhd (KL:MITRA) rose to their highest in more than eight months after the builder and property developer announced that it has secured a contract worth RM174.3 million.</p>


Mitrajaya surges to over eight-month high amid active trade after contract win

<p>JPMorgan Chase &amp; Co chief executive officer Jamie Dimon called for full and thoughtful engagement with China, despite the country posing “tough competition” for the West. &nbsp;</p>


JPMorgan’s Dimon calls for ‘full engagement’ with China

<p>Shares of Apex Healthcare Bhd (KL:AHEALTH) on Thursday fell again and are on track for the worst day in nearly a year after the pharmaceutical company reported a 13% decline in first-quarter net profit.</p>


<p>RHB Retail Research said ECA Integrated Solution Bhd (KL:ECA) is eyeing a technical rebound after attempting to close above the 42 sen consolidation phase on Wednesday.</p>


ECA Integrated Solution eyeing technical rebound, says RHB Retail Research 

<p>The US Commerce Department on Wednesday opened an investigation into allegations that solar cells and panels imported from four Southeast Asian countries are being unfairly subsidised and priced below their production costs.</p>


Asian solar imports are subject of new US Commerce probe

<p>RHB Retail Research said UMediC Group Bhd (KL:UMC) is eyeing to resume its uptrend following a recent pullback as it bounced off the 21-day simple moving average (SMA) line on Wednesday, heading towards the 72 sen immediate resistance.</p>


UMediC eyeing to resume its uptrend, says RHB Retail Research 

<p>Walt Disney has cut its investment in programming for traditional television networks pretty dramatically as part of its strategy to maximise audiences and profit in the streaming TV era, chief executive Bob Iger said on Wednesday.</p>


Disney has dramatically cut traditional TV spending, CEO says

<p>Warren Buffett’s Berkshire Hathaway Inc unveiled a US$6.7 billion (RM31.37 billion) stake in insurer Chubb Ltd, ending months of suspense over its mystery position in a financial firm, previously kept concealed in regulatory filings.</p>


Buffett’s Berkshire reveals U$6.7b stake in insurer Chubb

<p>Aiden Pleterski, the self-proclaimed “Crypto King” who collected millions of dollars from investors, only to spend it on luxury goods, has been arrested on fraud charges in Canada.</p>
