<div class=newsTextDataWrapInner>SINGAPORE (Feb 5): SGX-Catalist listed MeGroup’s Malaysian subsidiary Menang Nusantara Holdings Sdn Bhd has been appointed as the British motoring brand MG’s dealer for Setia Alam, Selangor.&nbsp;</div>

<div class=newsTextDataWrapInner>The appointment, which has an initial term of 36 months with an option to renew for a further 24 months, marks MeGroup’s first foray into the electric vehicle (EV) space. The target commencement date for trading of services and products, and for<a href="https://www.theedgesingapore.com/news/contracts/megroup-malaysian-subsidiary-appointed-setia-alam-mg-dealer" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div>

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SINGAPORE (Feb 5): SGX-Catalist listed MeGroup’s Malaysian subsidiary Menang Nusantara Holdings Sdn Bhd has been appointed as the British motoring brand MG’s dealer for Setia Alam, Selangor.

MeGroup’s Malaysian unit appointed as Setia Alam MG car dealer in first EV foray

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

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.

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

Carimin Petroleum Bhd (KL:CARIMIN) is acquiring a crew boat for US$4.96 million (RM23.39 million) from Penguin Shipyard Asia Pte Ltd to expand its business in providing marine support services for offshore maintenance, hook-up and commissioning activities.

Carimin acquires RM23.4 mil crew boat to expand marine support services

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.

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

Amway (Malaysia) Holdings Bhd (KL:AMWAY) said its first quarter net profit increased 67.32% year-on-year to RM32.74 million from RM19.57 million amid lower sales.

Amway's 1Q net profit up 67% on lower sales incentives

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

ASB ups stake in Maybank to 30.49%

Regardless of the circumstances that surround the crash of the helicopter that carried Iranian President Ebrahim Raisi and other dignitaries, we should not necessarily expect an escalation of tensions that can lead to an immediate conflict between Iran and Israel.

Why Ebrahim Raisi’s copter crash will not escalate tensions with Israel

Public Bank Bhd (KL:PBBANK) has lost a case against a house buyer, who sued the bank for terminating a loan facility agreement after the first disbursement.

The court found that the bank failed to provide documents of purported falsified supporting documents and claims that the customer inflated his income, which had resulted in the facility and house purchase to be terminated.

Public Bank loses case against house buyer on failure to prove falsification of supporting documents

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.

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

Sime Darby Bhd (KL:SIME), which assembles motor vehicles and sells heavy equipment, said on Thursday its net profit rose 41.7% for&nbsp;the third quarter from a year earlier, thanks to higher sales and income from newly acquired businesses.

Sime Darby's 3Q net profit rises 41.7%, flags tough markets in China, Australia

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.

Gamuda Bhd’s (KL:GAMUDA) property arm Gamuda Land announced that Townsquare, the commercial project of Gamuda Cove township development located in Kuala Langat, has been fully taken up and is targeted for vacant possession in 4Q2024.

Gamuda Land's Townsquare in Gamuda Cove fully taken up

British newspapers had a field day mocking Prime Minister Rishi Sunak after he called for a snap election on July 4, with some typically wry and tongue-in-cheek headlines.

British tabloids take the mickey out of Sunak after calling for snap election, mainstream media stay sober

Chinese vehicle manufacturer Chery's Jaecoo is committed to enhancing its service network in Malaysia and has signed 30 dealers in the country.

Jaecoo signs 30 dealers to enhance service network in Malaysia

Zantat Holdings Bhd (KL:ZANTAT) posted a net profit of RM1.9 million,&nbsp;on the back of RM28.8 million in&nbsp;revenue, for the first quarter ended March 31, 2024 (1QFY2024), derived from the production of ground calcium carbonate.

Zantat posts 1Q net profit of RM1.9m, declares dividend of 1.5 sen

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.

Axis REIT to acquire two auto service centres for RM125m

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.

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

theedgemalaysia.com highlighted four stocks with positive momentum and 12 stocks with negative momentum at Bursa Malaysia's noon break on Thursday. &nbsp;

SNS, L&P, YSPSAH, BHIC, Green Ocean, QES, Radiant Globaltech, Panda, Bursa, WTK, JCY, Country Heights, Kumpulan Fima, ARK, PTT, LB Aluminium

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.

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

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.

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.

Customs Department to launch Compliance Verification Audit in July

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.

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

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;

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

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

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.

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

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.

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

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).

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.

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

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.