<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 1): RHB Retail Research Crescendo Corp Bhd is poised to extend the upside movement after staging a bullish breakout.</p></div>

<div class=newsTextDataWrapInner><p>In a trading stocks note on Monday, the research house said that the counter broke past the RM2.95 resistance to form a fresh “higher high” bullish candlestick.</p></div>

<div class=newsTextDataWrapInner><p>“Coupled with the gap up, this shows strong bullish momentum is underway.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The momentum should lift the counter towards the next resistance pegged at RM3.20, followed by RM3.50.</p></div>

<div class=newsTextDataWrapInner><p>“Conversely, falling below the RM2.75 support would invalidate the bullish setup,” it said.</p></div>


RHB Retail Research Crescendo Corp Bhd is poised to extend the upside movement after staging a bullish breakout.

Crescendo poised to extend upside movement, says RHB Retail Research 

(May 24): Citigroup Inc. and HSBC Holdings Plc are ordering more US staffers to report to company offices five days a week as regulatory changes make it trickier for Wall Street to allow working from home.

Citigroup is requiring about 600 employees previously eligible to work remotely t...

Citi, HSBC order more staff to work in offices five days a week

(May 24): JPMorgan Chase & Co. failed to properly monitor billions of client orders between 2014 and 2021, according to the Commodity Futures Trading Commission.  

The CFTC on Thursday said the bank would pay US$100 million to settle a multiyear probe into the JPMorgan’s trade ...

JPMorgan failed to monitor billions of client orders, CFTC says

(May 24): Elon Musk’s SpaceX has initiated discussions about selling existing shares at a price that could value the closely held company at roughly US$200 billion, according to people familiar with the matter.

SpaceX is discussing a tender offer that may kick off in June, said some of ...

SpaceX weighs plan to sell shares valuing firm at US$200 billion

(May 24): Spanish driller Repsol SA obtained a license from the US on Wednesday to keep operating in Venezuela after May 31, according to people with knowledge of the matter.

Oil firms that want to stay in Venezuela have been applying for permits from US Treasury after Washington reimpo...

Spain’s Repsol awarded US license to operate in Venezuela

NEW YORK (May 24): U.S. stocks ended lower on Thursday, even as a strong revenue forecast for Nvidia fueled a surge in its shares, but that was overshadowed by economic data showing inflation was still a concern that could delay any Federal Reserve rate cuts.

Nvidia shares jumped 9.32% ...

Stocks fall despite Nvidia boost as inflation concerns weigh

NEW YORK (May 24): U.S. stocks ended sharply lower on Thursday as enthusiasm over Nvidia's quarterly results faded and robust economic data fueled concerns over tighter-for-longer monetary policy.

U.S. Treasury yields turned higher after the data.

All three major U.S. stock in...

Wall Street tumbles as AI fervor dampened by rate jitters

(May 24): Shares of Nvidia surged over 9% on Thursday, building on a stunning rally as its bumper revenue forecast reinforced investor confidence in the AI-driven boom in chip demand.

The semiconductor bellwether's surge translated to an addition of around $218 billion in market value o...

Nvidia adds over US$200 billion in market value in post-earnings rally

(May 24): Wall Street titan Goldman Sachs has received a license to set up its regional headquarters in Saudi Arabia's Riyadh, according to a person familiar with the matter.

The move comes months after the kingdom's cabinet approved a new set of rules under which companies without a re...

Goldman Sachs gets license for regional headquarters in Saudi Arabia, source says

CAIRO (May 24): Israeli forces killed at least 60 Palestinians in aerial and ground bombardments across the Gaza Strip on Thursday and battled in close combat with Hamas-led militants in areas of the southern city of Rafah, health officials and Hamas media said.

Israeli tanks advanced i...

Israeli forces kill dozens of Palestinians in Gaza strikes, battle Hamas in Rafah

(May 24): The U.S. Centers for Disease Control said on Thursday that public health officials are investigating multi-state outbreaks of salmonella linked to contact with backyard poultry.

The CDC said that 109 people from 29 states have gotten sick from salmonella after touching or cari...

US CDC warns of multi-state salmonella outbreak linked to backyard poultry

<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>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>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>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>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>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>


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

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


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

<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

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EVENING 5: Five things you need to know today

<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>


Penang sets up chip design academy to boost integrated circuit design, digital sector

<p>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.&nbsp;</p>


Former KNM director Flavio Porro joins AHB’s board

<p>The trustees of Amanah Saham Bumiputera (ASB) bought a 0.23% stake in Malayan Banking Bhd (KL:MAYBANK) this week for RM276.48 million.</p>


ASB ups stake in Maybank to 30.49%

<p>Allianz Malaysia Bhd (KL:ALLIANZ), which provides both life and general insurance, said on Thursday its net profit grew nearly 10% year-on-year (y-o-y) in the first quarter, led by investment-linked protection business and higher investment income.</p>


Allianz Malaysia logs near 10% growth in 1Q, declares 26.5 sen dividend

<p>Cahya Mata Sarawak Bhd’s (CMS) (KL:CMSB) net profit fell 10.1% to RM38.25 million for the first quarter ended March 31, 2024 (1QFY2024) from RM42.56 million a year earlier.</p>

<p>Revenue was flat, a 0.6% increase to RM277.37 million versus RM275.67 million previously, according to the diversified group’s bourse filing on Thursday.</p>


Cahya Mata Sarawak 1Q net profit down 10%

<p>Focus Point Holdings Bhd (KL:FOCUSP) reported a 22.89% increase in first quarter net profit, attributing it to a rise in revenue, driven by strong sales in both the group's optical, and food and beverage (F&amp;B) segments.</p>


Focus Point records 23% rise in 1Q profit, aims to open 20 new optical outlets in 2024

<p>Power Root Bhd’s (KL:PWROOT) net profit fell 46.22% to RM8.92 million for its fourth quarter ended March 31, 2024 (4QFY2024), from RM16.59 million a year earlier, dragged down by higher advertising and promotion spending, and staff costs.</p>


Power Root's 4Q net profit drops 46% on higher spending

<p>US Treasury Secretary Janet Yellen reiterated that currency intervention should be a seldom-used tool that officials give fair warning about when they resort to it.</p>


Yellen wants currency intervention to be rare and well flagged

<p>Construction outfit Fajarbaru Builder Group Bhd (KL:FAJAR) saw its net profit jumped more than 14 times to RM27.19 million for the third quarter ended March 31, 2024 (3QFY2024), from RM1.91 million a year earlier, mainly due to higher contribution from property development segment.&nbsp;</p>


Fajarbaru's 3Q profit soars over 14 times to highest in over 20 years

<p>Duopharma Biotech Bhd’s (KL:DPHARMA) net profit dropped 32.5% for the first quarter amid lower demand in the prescription pharmaceutical products, higher costs as well as unfavorable exchange rates.</p>

<p>Net profit for the three months ended March 31, 2024 (1QFY2024) fell to RM15.28 million from RM22.63 million a year earlier, while revenue slipped 3.74% to RM192.97 million from RM200.48 million. The group did not declare any dividend for the quarter under review.</p>
