<div class=newsTextDataWrapInner>SINGAPORE (Jan 2): Oiltek International has secured new contacts worth RM9.6 million ($2.8 million) from Malaysia and South Korea, bringing the total number of new contracts signed in FY2023 to RM322.1 million.</div>

<div class=newsTextDataWrapInner>The total value of contracts signed for FY2023 represents a 64.3% year-on-year increase from the total value of contracts signed in FY2022. It also brings the group’s current order book to around RM381.5 million. The order book is expected to be fulfilled over the next 18 to 24 months.</div>

<div class=newsTextDataWrapInner>The new contracts involve the supply, installation and piping works for various processing plants in Malaysia; the design, fabrication and delivery of one new 300 tonnes per day (TPD) bleaching equipment in South Korea; and the upgrading and retrofitting of an existing texturising plant in Malaysia. They are not expected to have a material impact on the group’s financial performance in FY2023 ended Dec 31, 2023, but are expected to contribute positively to its financial performance for FY2024. <a href="https://www.theedgesingapore.com/news/contracts/oiltek-international-secures-rm3221-mil-worth-contracts-fy2023-after-new-contracts" target="_blank">...(click here for the full story on theedgesingapore.com).</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

Oiltek International has secured new contacts worth RM9.6 million ($2.8 million) from Malaysia and South Korea, bringing the total number of new contracts signed in FY2023 to RM322.1 million.

Oiltek International secures RM322.1 mil worth of contracts in FY2023 after new contracts signed

The Edge Communications Sdn Bhd and its owner Tan Sri Tong Kooi Ong have ceased to be a substantial shareholder in Star Media Group Bhd following the latest share sale.

Tong sold 2.95 million shares in the open market last week, lowering his stake to 4.68% — below the 5% threshold required to be considered a substantial shareholder, according to Star Media’s exchange filing. The transaction price was not disclosed.

The Edge owner trims stakes, ceases to be substantial shareholder in Star Media

Prime Minister Datuk Seri Anwar Ibrahim wants the Immigration Department to operate as a solid team with sincere intentions to bring about change and to put an end to inappropriate practices, aligning with the concept of a Madani nation.

Anwar wants Immigration Dept to operate as solid team to bring about change

SHAH ALAM (May 6): The Ministry of Energy Transition and Water Transformation (Petra) has come up with the affordable “Solar BOLEH!” programme to enable more people to adopt solar energy by installing solar panels in their homes, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

Ministry introduces affordable programme to boost solar energy adoption in homes

Construction crane manufacturer Favelle Favco Bhd (FFB) has secured four contracts for the supply of offshore and tower cranes totaling RM39.2 million.

Favelle Favco wins four contracts worth RM39.2 mil

India arrested an official from the main opposition party in a bid to clamp down on the spread of fake news during its multiphase elections running until June.

India battles fake news as nation-wide election reaches halfway mark

Prime Minister Datuk Seri Anwar Ibrahim has urged civil servants to maintain their service integrity to justify the recognition and confidence accorded them by the government through salary adjustments under the Public Service Remuneration System (SSPA).

PM wants civil servants to maintain integrity to justify recognition given by govt

If you want to know how your green stock portfolio is likely to perform next quarter, you should take a look at hedge funds’ options bets.

Hedge funds’ options bets hand green investors a path to predicting returns

WASHINGTON (May 6): US President Joe Biden will meet Middle East ally, Jordan’s King Abdullah II, at the White House on Monday, with prospects for a Gaza ceasefire appearing slim and Palestinian Islamist group Hamas and Israeli officials blaming each other for the impasse.

Biden to meet Jordan’s King Abdullah as Gaza ceasefire hopes dim

Steward Health Care System LLC filed for bankruptcy early on Monday as it’s finalising a rescue loan with landlord Medical Properties Trust Inc.

Steward Health files Chapter 11 as it seeks landlord funding

For the first time in nearly a generation, fixed income is living up to its name.

At US$2m per minute, US treasuries mint cash like never before

Energy giant Shell is in talks with Saudi Arabia's state-owned Saudi Aramco to sell its gas station business in Malaysia, the second-largest such network in the country, four industry sources aware of the discussions said, and a deal could be worth up to US$1 billion (RM4.74 billion).

Shell in talks to sell Malaysian fuel stations to Saudi Aramco — Reuters

BMI, a Fitch Solutions company, said Malaysia's deepwater explorations are expected to accelerate as more investments are directed towards under-explored areas.

BMI: Deepwater exploration in Malaysia gathers momentum

The FBM KLCI’s uptrend has been relentless since mid-April as accumulation on blue chips&nbsp;by both local institutions and foreign funds continues, according to Rakuten Trade.

Banks, construction to be in focus as FBM KLCI could test 1,600 soon, says Rakuten Trade 

Fraser &amp; Neave Holdings Bhd (F&amp;N) shares surged to their highest in five years on Monday, as better-than-expected results buoyed investors' optimism, while analysts maintained their calls following a briefing.

F&N surges to five-year high on better earnings, outlook

Maybank Investment Bank (Maybank IB) on Monday began coverage of SAM Engineering &amp; Equipment (M) Bhd with a counter-consensus ‘buy’ call, betting on the cyclical recovery of aerospace and semiconductor sectors.

Maybank IB joins coverage of SAM Engineering with counter-consensus ‘buy’ call

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

In an alert last Thursday, the commission said the following persons/entities were added to the list:

SC adds six entities to Investor Alert List, four being potential clones

Foreign buying of Malaysian equities surged 3.6 times to RM1.06 billion last week from RM292.2 million the prior week, as they net bought every day of the week.

Foreign buying of local equities surged to RM1.06b last week, says MIDF

Prime Minister Datuk Seri Anwar Ibrahim will be having an online meeting with tech giant Google on Monday.

Without disclosing more details on the issues to be discussed, he said Malaysia has continued to receive interests from foreign investors.

Anwar scheduled to have online meeting with Google on Monday

KUALA LUMPUR (May 6): Defence Services Asia (DSA) 2024 and National Security Exhibition (Natsec) Asia 2024 are able help the country gauge whether its&nbsp;defence assets are in line with the latest technological advances.

Asia defence services and security exhibition a medium to evaluate national assets in line with current tech — minister

Proton Holdings Bhd reported on Monday its car sales rose by 17.1% to 11,025 vehicles in April (including domestic and exports) compared to the 9,415 units sold last year.&nbsp;

Proton records sales of 11,025 units in April, higher by 17.1% y-o-y

Phillip Capital has initiated coverage on T7 Global Bhd with a “buy” rating at 53 sen and a target price of 68 sen.

Phillip Capital starts coverage on T7 Global, target price 68 sen 

The Road Transport Department (JPJ) said that the insurance comparison platform BJAK has not received approval to offer road tax renewal services.

BJAK not authorised for road tax renewal services, says JPJ

LONDON (May 6): High Chinese tariffs on EU brandy would leave French companies with vast amounts of cognac that could be hard to sell elsewhere, according to Reuters' calculations, analysts, and investors who fear firms could be forced to discount.

China opened an anti-dumping investiga...

Chinese tariffs could leave cognac makers with too much brandy

Robusta coffee prices have climbed to the highest in 45 years, according to the International Coffee Organisation (ICO), as a supply crunch intensifies for the variety used in espresso blends and instant drinks.

Coffee variety priciest in 45 years in blow to instant brews

French President Emmanuel Macron and EU Commission chief Ursula von der Leyen urged China's President Xi Jinping to ensure more balanced trade at the start of a visit to Paris by the Chinese leader, during which Macron will also press him on Ukraine.

Macron, Von der Leyen press China's Xi on trade in Paris talks

Global stocks ticked higher on renewed bets that the Federal Reserve would likely ease interest rates this year, while the yen weakened after a strong surge last week from Tokyo's suspected currency intervention.

World shares climb on Fed cut bets, China gains; yen weakens

The Attorney General's Chambers (AGC) will be objecting to Muar Member of Parliament Syed Saddiq's leave application to take legal action against Prime Minister Datuk Seri Anwar Ibrahim and the government over RM730,300 in allocations meant for his constituency.

AGC to object to Syed Saddiq's leave application over unpaid allocations

For the first time in nearly a generation, fixed income is living up to its name.

Billionaire investor Warren Buffett said there are “load of opportunities” in India, but he’s leaving them to future management.

Buffett says India holds ‘unexplored’ opportunities for future Berkshire leaders

Former prime minister Tan Sri Muhyiddin&nbsp;Yassin's four graft charges, which were&nbsp;reinstated by the Court of Appeal in February, had met all&nbsp;the ingredients of an offence under stipulated laws,&nbsp;and were not ambiguous.