<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 9): Salcon Bhd (KL:SALCON) said Envitech Sdn Bhd, a 60%-owned subsidiary of Salcon Engineering Bhd, has been awarded a job by Rantau Urusan (M) Sdn Bhd for the design and construction of a sewerage treatment plant in Durian Sebatang, Hilir Perak, Perak.</p></div>

<div class=newsTextDataWrapInner><p>The contract is valued at RM 9.7 million with a contract period of 20 months and will cater to a population of 54,000 upon completion, according to a statement on Thursday.</p></div>

<div class=newsTextDataWrapInner><p>“This is the second contract secured by our subsidiary, Envitech Sdn Bhd this year and we are confident of their ability to deliver this project to a successful completion,” said Jamiluddin Amini Sulaiman, chief operating officer of Salcon Engineering, a wholly-owned unit of Salcon.<br />
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The contract includes the provision of labour and material, and is expected to contribute positively towards the earnings and net assets of Salcon for the financial years ending December 31, 2024 to December 31, 2026.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>


Salcon Bhd (KL:SALCON) said Envitech Sdn Bhd, a 60%-owned subsidiary of Salcon Engineering Bhd, has been awarded a job by Rantau Urusan (M) Sdn Bhd for the design and construction of a sewerage treatment plant in Durian Sebatang, Hilir Perak, Perak.

Salcon unit clinches RM9.7m sewerage treatment plant job

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>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 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>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>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>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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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

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


<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>Wu Cheng-wen, Taiwan’s&nbsp;new technology minister,&nbsp;said smart machines connected to the internet, including chip tools, can be remotely shut off in the event of a conflict on the island.</p>


Taiwan's minister says chip machines can be remotely shut off

<p>The billionaire Peugeot family is under unprecedented shareholder pressure over the performance of its listed investment vehicle, following losses related to its holdings in the collapsed European property empire Signa.</p>


Billionaire Peugeot family faces rare revolt by shareholders

<p>Sarawak Oil Palms Bhd’s (KL:SOP) net profit surged 80% year-on-year (y-o-y) in the first quarter, thanks to higher sales and lower production costs.</p>


Sarawak Oil Palms’ 1Q net profit surges 80% on higher sales, lower costs

<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>
