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Construction Sector Remains Buoyant, Rising 8% In Q1 To RM46.5 Billion

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Construction Sector Remains Buoyant, Rising 8% In Q1 To RM46.5 Billion

Malaysia’s construction sector maintained its growth momentum in the first quarter of 2026, with the value of work done rising 8.5% year-on-year to RM46.5 billion, according to the latest data released by the Department of Statistics Malaysia (DOSM).

The expansion was supported mainly by strong performances in the special trade activities and non-residential buildings sub-sectors, which recorded double-digit growth of 24.6% and 12.7% respectively.

DOSM said the residential buildings sub-sector also registered positive growth of 6.1%, while the civil engineering segment expanded at a more moderate pace of 1.5%.

Civil engineering remained the largest contributor to total construction activity, accounting for RM15.9 billion or 34.2% of total work done during the quarter.

The sub-sector was mainly driven by utility projects valued at RM8.3 billion and roads and railways construction activities worth RM6.1 billion.

Meanwhile, non-residential buildings contributed RM13.9 billion or 29.9% of the total value of work done, followed by residential buildings at RM10.5 billion or 22.5%.

Special trade activities contributed RM6.2 billion, representing 13.3% of total construction activity, supported largely by site preparation works, plumbing and air-conditioning installations, as well as electrical installation activities.

The private sector continued to be the key growth driver, with the value of work done increasing 13.2% in the first quarter compared with 8.6% growth in the preceding quarter.

Private sector projects amounted to RM30.5 billion, accounting for 65.6% of total construction activity.

According to DOSM, the expansion was mainly fuelled by stronger performances in special trade activities and non-residential buildings, which grew 28.8% and 13.1% respectively.

In contrast, public sector construction activity recorded marginal growth of 0.5%, slowing significantly from the 13.4% growth registered in the fourth quarter of 2025.

Public sector work done totalled RM16 billion, or 34.4% of total construction activity, supported mainly by special trade activities and non-residential building projects.

By state, more than half of Malaysia’s construction activity during the quarter was concentrated in Selangor, Johor and the Wilayah Persekutuan.

Selangor remained the largest contributor with RM10.9 billion worth of construction work, representing 23.4% of the national total. The state’s activity was driven mainly by non-residential building and civil engineering projects.

Johor ranked second with RM9.5 billion or 20.4% of total construction work, supported largely by non-residential building developments.

Meanwhile, the Federal Territories, comprising Kuala Lumpur, Putrajaya and Labuan, recorded RM4.8 billion worth of construction activity, contributing 10.3% to the national total.

US Senate Confirms Kevin Warsh 56, As New Fed Chair

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US Senate Confirms Kevin Warsh 56, As New Fed Chair

The U.S. Senate on Wednesday confirmed Kevin Warsh’s nomination as the next chair of the Board of Governors of the Federal Reserve System in a vote of 54-45, placing the 56-year-old financier at the helm of the U.S. central bank as it navigates a complex landscape of surging inflation and geopolitical volatility.

The confirmation follows a Tuesday vote by the Republican-majority Senate to approve Warsh for a 14-year term on the Federal Reserve’s seven-member Board of Governors. His formal swearing-in to both positions is pending final signatures from the White House.

Warsh is set to succeed current Fed Chair Jerome Powell, whose leadership term expires this Friday. Although Powell will step down from the chairmanship, he will remain on the Federal Reserve Board as a governor.

The leadership transition occurs as the Federal Reserve grapples with intensifying price pressures.

Warsh, born in 1970, is a lawyer and financier who previously served as a Federal Reserve governor from 2006 to 2011, playing a key role in navigating the global financial crisis during that time. His return to the board comes at a time of heightened scrutiny regarding the central bank’s political independence.

Warsh is expected to lead his first policy-setting meeting on June 16-17.

Kevin Hassett, director of the National Economic Council, said in a Fox News interview on Sunday that he believes markets are relieved that Warsh “is going to help lower interest rates over time.”

“Obviously, data driven. I’m not putting any pressure on Kevin Warsh,” Hassett said. “We know that he’s an extremely smart, competent person who could be very convincing when he talks to his colleagues.”

Warsh has recently signaled a push for changes at the central bank, including closer coordination with the U.S. Treasury Department and a reduction in the Fed’s balance sheet.

Bad Bunny’s Adidas Ballerina Returns With A Fiery Red Makeover

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Bad Bunny’s Adidas Ballerina Returns With A Fiery Red Makeover

Bad Bunny’s Adidas Ballerina is coming back, and it’s doing so with a new colourway that shifts the silhouette back into focus after more than a year out of rotation.

The sneaker originally launched in early 2025, with three colourways released in quick succession across March and April. After that initial push, the collaboration moved on to other projects, including new silhouettes and Bad Bunny’s first signature shoe.

This latest return suggests adidas is circling back to the Ballerina at a time when interest in the wider partnership is still building across different models.

The new edition, called the “Flamboyan”, takes its cue from Puerto Rico’s flamboyant trees, known for their bright red blossoms and strong cultural presence on the island. That reference carries straight into the design.

The upper is fully dressed in tonal red, built across canvas, suede, and satin panels for a layered finish. A maroon lace toggle and rubberised lace tips keep the look consistent, while white Three Stripes and a gum sole break things up without overcomplicating it.

Branding details are kept subtle but deliberate. Gold “Benito” embossing appears across the upper, alongside an “Adidas Para Bad Bunny” stamp on the midsole.

There’s also an external heel tag and the familiar zig-zag stitched tongue label that has become a signature detail across the collaboration. These elements tie the pair back to earlier releases while still giving it its own identity.

Underneath the design, the Ballerina is built on a reworked 1980s Taekwondo silhouette, originally reinterpreted to sit between dance and martial arts.

That concept has shaped the entire line from the start, with early releases arriving in gold, black-and-white, and white-based colourways. The idea has always been about movement and flow rather than rigid categories, which is part of what set the model apart when it first dropped.

For this release, timing is staggered. The “Flamboyan” will first drop via New York boutique All the Right, followed by a wider release on May 30, 2026 through the adidas Confirmed app and select retailers. The price is set at US$120.

Bursa Opens Flat As KLCI Drifts Lower, Consolidation Phase Seen In Play

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Bursa Opens Flat As KLCI Drifts Lower, Consolidation Phase Seen In Play

Bursa Malaysia opened marginally weaker, with the FBM KLCI hovering near the 1,746 level, tracking a mild pullback in index futures, while broader market sentiment remained cautious but stable.

As at 9.25am, the FBM KLCI slipped 0.25 points or 0.01% to 1,746.06 after opening at 1,749.10. The index moved within a narrow range of 1,743.99 to 1,750.63 in early trade, signalling a lack of strong directional momentum at the open.

The softer tone came as the FBM KLCI Futures (FKLI) eased overnight, with RHB Investment Bank Bhd describing the move as a minor pause in an ongoing upside trend rather than a reversal.

RHB said the FKLI had retreated to 1,750.50 points after briefly touching an intraday high of 1,757 points, forming a bearish candlestick structure that reflects short-term consolidation. However, the broader trend remains constructive as the index continues to trade above its rising 50-day and 200-day simple moving averages.

The research house maintained a long position bias, stating that the bullish setup remains intact as long as the index stays above the 1,690-point support level. It added that the current movement is viewed as a consolidation phase within an uptrend rather than a shift in trend direction.

On Bursa’s broader market boards, performance was mixed. The FBM Small Cap index gained 0.15% while the FBM KLCI-linked FBM100 and FBM70 edged lower in early trade. Sector performance was also mixed with construction slipping 0.56% while consumer products and services posted a slight gain.

Among active stocks, Natgate led turnover, rising 8.5 sen to 87.5 sen, followed by GIIB, Euro and SNS, all recording modest gains on heavy volumes.

Top losers included PetDag, Penta, SunCon, UWC and Gamuda, which traded lower in early action.

Oil Gains Cautiously Ahead Of High-Stakes US-China Summit

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Oil Gains Cautiously Ahead Of High-Stakes US-China Summit

Oil prices edged higher on Thursday as investors positioned cautiously ahead of a meeting between US President Donald Trump and Chinese President Xi Jinping in Beijing, with markets also closely monitoring developments around the Iran war and its impact on global supply routes.

Brent crude futures rose 13 cents or 0.12% to US$105.76 a barrel by 0015 GMT, while US West Texas Intermediate futures gained 12 cents or 0.12% to US$101.14.

The move followed a weaker session on Wednesday when both benchmarks slipped more than US$1 to US$2 a barrel as concerns over potential US interest rate hikes weighed on demand expectations and broader risk appetite.

Focus has now shifted to Trump’s visit to Beijing, where he is expected to hold a series of meetings with Xi aimed at securing economic agreements, maintaining a fragile trade truce and addressing geopolitical tensions including the Iran conflict and Taiwan-related arms sales.

“Failure to make meaningful progress on reopening the strait could leave the US with few options other than renewed military action,” IG analyst Tony Sycamore said in a note.

Trump has said he does not think he will need China’s help to end the war with Iran, although analysts expect he may still seek Beijing’s involvement in easing the conflict, even if prospects for cooperation remain limited.

At the same time, Iran has tightened its influence over the Strait of Hormuz, with reports of agreements involving Iraq and Pakistan to facilitate oil and liquefied natural gas shipments from the region.

China continues to be the largest buyer of Iranian crude despite sanctions pressure, with more than 80% of Iran’s seaborne oil exports in 2025 reportedly heading to Chinese refiners that have benefited from discounted sanctioned supplies.

Reuters

HSIF Bulls Face Key 26,600 Wall While Downside Risk Still Intact

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HSIF Bulls Face Key 26,600 Wall While Downside Risk Still Intact

Hang Seng Index Futures (HSIF) staged a mild counter-trend rebound but remains capped below the key 26,600-point resistance level, with RHB Investment Bank Bhd maintaining a bearish trading bias despite signs of improving momentum.

During the latest session, HSIF opened at 26,238 points and moved between 26,381 and 26,106 points before closing at 26,293 points. At the time of writing, the index had climbed further to last trade at 26,684 points, briefly testing the upper resistance zone.

RHB Research said the latest price action saw a bullish candlestick formation with the index holding above the 20-day simple moving average, suggesting near-term momentum has turned more positive. The Relative Strength Index (RSI) has also begun to round upwards, indicating strengthening bullish momentum.

However, the research house noted that the 26,600-point resistance remains unbroken on a closing basis, meaning the bearish bias is still in play. It added that only a firm close above this level would invalidate the current short setup.

RHB maintained its recommendation for traders to hold short positions initiated at the close of 26 February or 26,367 points. The stop-loss level is kept at 26,600 points to manage risk exposure.

On the downside, immediate support is seen at 25,100 points, followed by 24,500 points. If upside momentum persists, resistance levels are pegged at 26,600 points and a higher barrier at 27,200 points.

SGX Opens Lower As STI Slips, Tracking Wall Street Caution

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SGX Opens Lower As STI Slips, Tracking Wall Street Caution

Singapore stocks opened weaker as regional sentiment turned cautious following mixed overnight US performance, even as technology shares continued to draw selective buying interest.

As at 9:28am, the Straits Times Index (STI) fell 16.64 points or 0.33% to 4,987.32, with early turnover at 332.87 million shares valued at S$484.19 million. Market breadth was slightly negative with 144 gainers and 139 decliners, reflecting a broadly cautious tone.

The softer open came after Wall Street ended mixed, where the S&P 500 and Nasdaq climbed to fresh record highs driven by artificial intelligence-related stocks and chipmakers, even as inflation concerns and expectations of prolonged higher US interest rates lingered. The Dow Jones Industrial Average, however, slipped 0.14% to 49,693.20.

US sentiment was supported by strong gains in megacap technology names, with six of the Magnificent Seven rising between 1.4% and 3.9%, while Nvidia and Tesla also advanced. Analysts said resilience in tech helped offset concerns over hotter inflation data and reduced expectations for near-term Federal Reserve rate cuts.

Back in Singapore, early trading showed selective strength in individual counters. UMS rose 1.39% to 2.91, while DBS, UOB and Singtel traded largely mixed alongside Genting Singapore at 0.605 and ComfortDelGro at 1.37. AEM slipped in early trade.

Broader regional cues remained influenced by inflation risks after US producer price data recorded its biggest monthly increase in four years, reinforcing expectations that interest rates could stay elevated for longer. Investors also monitored developments from a high-profile US-China summit in Beijing, where trade and geopolitical tensions remain in focus.

Ringgit Opens Higher Against Dollar For Seventh Straight Day

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Ringgit Opens Higher Against Dollar For Seventh Straight Day

The ringgit opened higher against the US dollar for a seventh straight trading day ahead of the high-stakes meeting between US President Donald Trump and Chinese President Xi Jinping on May 14-15, 2026, Bernama reported.

At 8 am, the local currency strengthened to 3.9265/9330 against the greenback from 3.9285/9325 at Wednesday’s close.

Bank Muamalat Malaysia Bhd chief economist Mohd Afzanizam Abdul Rashid said traders were generally expecting positive outcomes from the meeting between the two leaders.

He added that higher fuel prices amid the war in West Asia had started to feed into inflation, potentially dampening hopes for an interest rate cut by the US Federal Reserve (Fed).

At the time of writing, Brent crude oil edged up 0.08 per cent to US$105.71 per barrel.

“However, the situation remains fluid. Growth could come under pressure and the Fed may shift its focus towards supporting the economy,” he told Bernama.

At the opening, the ringgit traded mixed against a basket of major currencies.

It appreciated against the Japanese yen to 2.4872/4914 from 2.4888/4916, but weakened against the British pound to 5.3110/3198 from 5.3105/3160, and slipped versus the euro to 4.6003/6079 from 4.5987/6034 at Wednesday’s close.

The local currency traded mostly higher against regional peers.

It gained against the Singapore dollar to 3.0859/0915 from 3.0872/0906 and strengthened against the Indonesian rupiah to 224.6/225.1 from 224.7/225.1.

The ringgit also edged up against the Philippine peso to 6.39/6.41 from 6.40/6.41, but eased against the Thai baht to 12.1469/1735 from 12.1419/1599 previously.

Anwar Shares Dissatisfaction Over Missile Contract Termination In Call To Norway’s PM

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Anwar Shares Dissatisfaction Over Missile Contract Termination In Call To Norway’s PM

Malaysia has strongly objected to Norway’s decision to revoke export licences linked to the Naval Strike Missile (NSM) system, with Prime Minister Anwar Ibrahim saying the move could have serious consequences for defence readiness and regional stability.

In a telephone conversation with Norwegian Prime Minister Jonas Gahr Støre, Anwar described the decision as “unacceptable” and unilateral, stressing that Malaysia had fully honoured its contractual obligations since the agreement was signed in 2018.

Malaysia’s Communications Minister Datuk Fahmi Fadzil said the government “absolutely cannot accept the reasons put forward by the Norwegian government”, adding that Malaysia was exploring diplomatic and legal options following the last-minute withdrawal of export approval.

The procurement involves the NSM anti-ship missile system and launcher systems for the Royal Malaysian Navy’s Littoral Combat Ship (LCS) programme, originally signed with Kongsberg Defence & Aerospace AS in April 2018. The contract was valued at about 124 million euros (RM571.9 million) and is intended to equip six LCS vessels.

Anwar said Malaysia’s payments and obligations had been met “scrupulously, faithfully and without equivocation”, adding that contracts must be treated as binding commitments between strategic partners.

“Signed contracts are solemn instruments. They are not confetti to be scattered in such a capricious manner,” he said, warning that such actions could undermine confidence in European defence suppliers.

He added that the decision would affect the modernisation of the LCS programme and could have broader implications for the regional balance of security.

Norway has reportedly tightened export controls in recent months, with its Foreign Ministry withdrawing several licences involving sensitive technologies, triggering concern among defence buyers globally.

Malaysia has maintained that the matter will be pursued through diplomatic channels while also considering legal steps as it seeks clarity on the reversal of the agreed supply arrangement.

Malaysia IPO Market Heads For 13-Year High On Chip, Healthcare Listings

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Malaysia IPO Market Heads For 13-Year High On Chip, Healthcare Listings

Initial public offerings are booming in Malaysia and a wave of upcoming listings including by a chip design firm is powering the market toward the biggest volume in 13 years.

IPOs have raised $1.2 billion in the first four months of 2026, already nearing the $1.4 billion for all of 2025, Bloomberg-compiled data show. Those included Sunway Healthcare Holdings Bhd, which raised 2.86 billion ringgit ($727 million) in the country’s largest offering in nine years. The pipeline includes chip design firm Skyechip Bhd, which would allow investors to tap into the hottest industry, as well as the REIT of IOI Properties Group Bhd.

Malaysia’s IPO market remained resilient as post-pandemic political stability and steady economic growth — especially compared with some Southeast Asian peers from Thailand to the Philippines — buttressed investor appetite. Now, with the artificial intelligence boom driving Asian markets to new heights, Malaysia’s equity capital markets are also poised for their next step.

“I expect the market to continue to be quite vibrant to be able to raise sizable amounts in the near term,” said Raymond Chooi, Maybank Investment Bank’s regional head of equity capital markets.

Skyechip is looking to raise 352 million ringgit this month, while IOI Properties REIT is on track for a 1.98 billion-ringgit IPO in the fourth quarter. Just those two would raise this year’s proceeds to $1.8 billion, the most for Malaysia since 2013, according to data compiled by Bloomberg.

Other potential issuers include Creador-backed pharmaceutical chain Big Caring Group and convenience store chain KK Mart Retail Bhd, both of which filed draft prospectuses.

Big Caring could leapfrog Sunway to be the year’s biggest listing as the company is seeking a valuation of 20 billion ringgit, people familiar with the matter have said.

Part of the reason for the increase in IPO activity is that some companies are just now regaining momentum post-pandemic, according to Chooi at Maybank. Some of the government’s policies, such as the national energy transition plan and semiconductor roadmap, are also kicking in and reflected in earnings, helping to buoy sentiment, Chooi said.

That means larger firms are now in a position to tap markets and take advantage of increased valuations — in contrast with the past few years when the bulk of listings came from smaller issuers.

“While last year was driven by volume of listings, we see that this year’s growth in IPO proceeds reflect an upshift in deal size and quality of listings,” Nor Masliza Sulaiman, the chief executive officer of CIMB Investment Bank Bhd., said by email.

The Southeast Asian country has been a rare bright spot even as the Middle East conflict roiled markets elsewhere, thanks to its status as an energy exporter. The impact of geopolitical tensions on Malaysian companies has been manageable and that has underpin issuer confidence in accessing the equity capital markets, Masliza added.

Still, there’s room to deepen overseas participation to ensure better absorption capacity and continued market performance for large deals. While Malaysia was the only country in Southeast Asia to see stock inflows this quarter, foreign shareholding in local shares remain near record lows.

“Continued execution and delivery will be important in supporting a durable equity market,” said Yen Voo, JPMorgan Chase & Co.’s head of Malaysia equity research. “Recent listings indicate that well positioned issuers with credible growth visibility and institutional sponsorship can attract demand.”

Bloomberg

Trump And Xi Set For High-Stakes Talks In Beijing

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Trump And Xi Set For High-Stakes Talks In Beijing

US President Donald Trump and Chinese leader Xi Jinping are set to tackle thorny issues dividing the two superpowers when they meet in Beijing on Thursday, with Iran, trade and Taiwan on the cards.

Xi will greet Trump with pomp and ceremony as they meet at 10:00 am (0200 GMT) in the opulent Great Hall of the People, a lavish welcome that belies the deep tensions between the world’s biggest economies.

The two leaders will also enjoy a state banquet at the hall in the evening, and Trump will visit the historic Temple of Heaven, a World Heritage site where China’s emperors once prayed for good harvest.

The US president arrived for the two-day summit on Air Force One late Wednesday accompanied by top CEOs, including Nvidia’s Jensen Huang and Tesla’s Elon Musk — symbols of business deals Trump hopes to reach.

He was given a red carpet welcome, with 300 Chinese youth in white uniforms chanting “welcome” and waving small Chinese and US flags in unison as he descended the steps of the presidential plane pumping his fist.

On Friday, Trump and Xi are set to have tea and a working lunch before the US president heads home to Washington.

The trip to Beijing marks the first by a US president in nearly a decade, after Trump visited in 2017, accompanied — unlike this time — by his wife Melania.

Following that first visit, Trump unleashed a barrage of tariffs and restrictions on Chinese goods. He did so again after returning to the White House last year, triggering a trade war before Xi and Trump agreed to a truce in October.

– ‘Big hug’ –

Trump has said he expects a “great big hug” from Xi as he banks on what he believes is a strong personal relationship with the Chinese leader who he has admiringly said rules China with an “iron fist”.

Top of his wish list will be business deals on agriculture, aircraft and other topics, with a host of top businessmen in the US leader’s delegation.

Aboard Air Force One en route to Beijing, Trump vowed on social media to push Xi to “open up” China to US firms “so that these brilliant people can work their magic”.

The Chinese foreign ministry said Wednesday it “welcomes” Trump’s visit and that “China stands ready to work with the United States…to expand cooperation and manage differences”.

But Trump is dealing with a different and more emboldened China to the one he visited nine years ago, with a host of unresolved trade and geopolitical tensions between the two countries.

The Iran war in particular has threatened to weaken Trump’s position in talks with Xi, having already forced him to postpone it from March.

The US president said he expected a “long talk” with Xi about Iran, which sells most of its US-sanctioned oil to China, but insisted that “I don’t think we need any help with Iran” from Beijing.

US Secretary of State Marco Rubio struck a somewhat different tone.

“We hope to convince them to play a more active role in getting Iran to walk away from what they are doing now, and trying to do now in the Persian Gulf,” US Secretary of State Marco Rubio told broadcaster Fox News in an interview aired Wednesday.

– Tariff truce? –

The long-simmering trade war between the two countries will also be top of the agenda, after Trump’s sweeping tariffs last year triggered tit-for-tat levies that exceeded 100 percent.

Trump and Xi are set to discuss extending a one-year tariff truce, which the two leaders reached during their last meeting in South Korea in October, although a deal is far from certain.

On Taiwan, another issue that has bedevilled ties, Trump said Monday he would speak to Xi about US arms sales to the self-governing democracy claimed by China.

That would be a departure from historic US insistence that it will not consult Beijing on its support for the island, and one which will be closely watched by Taipei and US allies in the region.

China’s controls on rare earth exports, AI rivalry and the countries’ raucous trade relationship are also among the topics expected to be taken up by the two heads of state.

Both sides will be looking to come out of the summit with whatever wins they can, while also stabilising an often tense relationship between Beijing and Washington that has global implications.

Trump will also be hoping to leave with a firm date for a reciprocal visit by Xi to the United States later in 2026, to prove his rapport with his Chinese counterpart.

AFP

Wall Street Climbs To Fresh Highs As AI Stocks Ignore Inflation Fears

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Wall Street Climbs To Fresh Highs As AI Stocks Ignore Inflation Fears

The S&P 500 and Nasdaq closed at fresh record highs on Wednesday as investors piled back into artificial intelligence-related technology stocks, brushing aside concerns over stubbornly high US inflation and the growing likelihood of prolonged elevated interest rates.

Chipmakers led the rebound after weakness in the previous session, helping both indexes reverse earlier losses. Six of the so-called Magnificent Seven technology giants gained between 1.4% and 3.9%, while Nvidia rose 2.3% and Tesla added 2.7%.

The Dow Jones Industrial Average slipped 67.36 points, or 0.14%, to 49,693.20. Meanwhile, the S&P 500 climbed 43.29 points, or 0.58%, to 7,444.25, while the Nasdaq Composite surged 314.14 points, or 1.20%, to finish at 26,402.34.

“In the face of continued hot inflation data, technology remains resilient,” said Ryan Detrick, chief market strategist at Carson Group in Omaha, Nebraska. “And after some weakness yesterday, the chip stocks came soaring back today.”

Investor sentiment remained cautious after fresh US producer price data showed inflation rose 1.4% in April, marking the biggest monthly increase in four years. The jump was largely linked to supply disruptions following the closure of the Strait of Hormuz, which pushed oil prices sharply higher.

The latest inflation figures further dampened hopes for a near-term interest rate cut from the Federal Reserve. Boston Fed President Susan Collins said a rate hike could still be possible if inflation pressures persist.

“I would just be careful to not overlook the risk of a more prolonged period of inflation and elevated interest rates,” said Jim Baird, chief investment officer at Plante Moran Financial Advisors in Michigan.

Meanwhile, US President Donald Trump arrived in Beijing for a two-day summit with Chinese President Xi Jinping, accompanied by business leaders including Elon Musk and Jensen Huang.

“President Trump took almost a small army with him to meet with the Chinese leaders and President Xi,” Detrick said. “With all the negative news about Iran, he wants to walk away from this meeting in China with potentially some significant deals.”

Elsewhere, Ford Motor Company jumped 13.2% after Morgan Stanley highlighted the carmaker’s energy business and partnership with Chinese battery giant CATL as a key competitive advantage.

Reuters

Stock Picks: Westports And Guan Chong

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Stock Picks: Westports And Guan Chong

RHB Investment Bank Bhd (RHB Research) has identified Westports Holdings Berhad and Guan Chong Berhad as its latest technical trading stock picks, citing bullish breakouts and improving momentum in both counters.

RHB Research said Westports is extending its upside movement after staging a bullish breakout above the RM5.73 resistance level. The research house noted that the stock formed a fresh bullish candlestick and closed above the key resistance, signalling that a bullish setup remains in play.

Trading volume has also increased alongside the share price, indicating stronger momentum for the port operator. RHB Research expects the stock to potentially climb towards RM5.96, followed by the RM6.20 level if buying momentum continues.

However, the research house warned that a fall below the RM5.50 support level could trigger a correction phase.

Meanwhile, Guan Chong was also highlighted after surging above the RM0.875 resistance level on strong trading volume recently.

According to RHB Research, the cocoa products manufacturer charted a bullish candlestick and closed above the resistance level, reflecting strong bullish momentum in the near term.

The research house expects follow-through buying interest to push the stock towards RM0.92, with the next resistance seen at RM0.965.

On the downside, RHB Research said a breach below the RM0.83 support level would negate the bullish technical setup and potentially kickstart a correction phase

Jimmy Choo Bets Big On Bai Lu With Global Ambassador Promotion

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Jimmy Choo Bets Big On Bai Lu With Global Ambassador Promotion

Jimmy Choo is widening its global strategy by promoting Chinese actress Bai Lu from Asia-Pacific ambassador to global brand ambassador. The move signals a clear shift from regional representation to a broader international role, placing her at the centre of the brand’s global identity.

This isn’t just a title change. Bai Lu has already fronted campaigns for the Adeline Mary Jane shoes and the Curve handbag, but her role now expands into fragrance, including the “I Want Choo With Love” concept. That direction leans into emotion and personal expression, moving away from straightforward product promotion.

For Jimmy Choo, the update reflects a wider change in how it tells its story. Instead of treating shoes, bags and accessories as separate marketing stories, the brand is building a more unified identity across categories. Fragrance sits at the centre of that shift, acting as a more personal entry point into the brand’s world.

Bai Lu’s appeal plays into this approach. Known for roles in series such as The Legends and Love Is Sweet, she has built a strong presence in Chinese television, moving between fantasy dramas and modern romance with ease. Her on-screen style is expressive but restrained, which has helped her connect with a wide, digitally engaged audience.

For luxury brands targeting China, the focus is on long-term storytelling and cross-category integration. Ambassadors must deliver meaning beyond visibility, and Jimmy Choo’s bet on Bai Lu reflects this strategy amid wider industry trends.

Swapped Turns Streaming Momentum Into A Netflix Record

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Swapped Turns Streaming Momentum Into A Netflix Record

Netflix has a new animated hit on its hands, and the numbers are hard to ignore. Swapped has just set a new record for the biggest single-week audience for a Netflix animated film, pulling in 38.7 million views during the May 4–10 window.

What makes that figure stand out is the momentum. The film opened with 15.5 million views in its first few days, then more than doubled its audience in the following week. That kind of second-week growth is not the usual pattern for streaming releases, where most titles tend to peak early and fade.

With this result, Swapped moves ahead of some of Netflix’s biggest animated performers. The Sea Beast previously held the record at 34.9 million weekly views, while Leo reached 34.6 million in its strongest week.

Even KPop: Demon Hunters, which became a long-term streaming success, didn’t hit this level within a seven-day stretch. The takeaway is simple: Swapped isn’t just launching well, it’s building an audience after release.

The film is directed by Nathan Greno and features voice performances from Michael B. Jordan, Juno Temple and Tracy Morgan. The story centres on two rival creatures, Ollie and Ivy, who unexpectedly swap bodies after a magical encounter.

From there, they’re forced to adjust to completely different lives, navigating survival, identity and how they see the world — all while trying to switch back.

That premise does a lot of the work. It blends adventure and comedy while grounding the film in themes of empathy and perspective. The setup works across age groups, which helps explain its broad appeal.

The supporting cast strengthens that reach, with Cedric the Entertainer, Justina Machado, Ambika Mod and Lolly Adefope all adding to the voice lineup. Strong word of mouth has also kept the film visible in a crowded Netflix catalogue, helping it maintain momentum beyond its launch.

Meta To Launch “Incognito Chat” For Private AI Conversations On WhatsApp

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Meta To Launch “Incognito Chat” For Private AI Conversations On WhatsApp

Meta Platforms is rolling out a new “Incognito Chat” feature for its artificial intelligence assistant on WhatsApp messaging service, the company said on Wednesday, as it looks to address data privacy concerns.

Meta said incognito chats will be powered by its private processing technology, ensuring conversations remain invisible to anyone, including the company itself.”Your conversations are not saved and by default, your messages disappear — giving you a space to think and explore ideas without anyone watching,” the company said in a blog post.

The move comes as people often share sensitive personal, financial, health or work-related information with AI assistants, despite privacy concerns about how their data could be stored or used by the companies.”We’re starting to ask a lot of meaningful questions about our lives with AI systems. It doesn’t always feel like you should have to share the information behind those questions with the companies that run those AI systems,” Head of WhatsApp Will Cathcart said in a media briefing.

According to a company website, messages people share with Meta AI may be used by the social media company to improve its AI models, but personal chats on WhatsApp remain protected by end-to-end encryption and are not accessible for that purpose.

For now, incognito chat is text-only, meaning users will not be able to upload images, Cathcart said.He added that the AI will also have built-in safety guardrails, refusing to answer problematic questions or steering conversations in different directions.

Meta said it also plans to introduce “Side Chat” with Meta AI in the coming months, a feature that will allow users to get private assistance within any chat on WhatsApp.

Reuters

Trump Arrives In Beijing

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Trump Arrives In Beijing

US President Donald Trump arrived in Beijing on Wednesday evening for a state visit to China.

At the invitation of Chinese President Xi Jinping, Trump is visiting China from May 13 to 15.

This is the first U.S. presidential visit to China in almost nine years and Trump’s second since November 2017.

The two leaders will have an in-depth exchange of views on major issues concerning bilateral relations and world peace and development, according to China’s foreign ministry.

Trump was welcomed by Chinese Vice President Han Zheng at the airport

Citaglobal Eyes Several Green Infrastructure Projects In Indonesia

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Citaglobal Eyes Several Green Infrastructure Projects In Indonesia

Citaglobal Berhad has signed a memorandum of understanding (MoU) with the Government of Lampung Province in Indonesia to evaluate the feasibility of several green infrastructure projects, including waste-to-energy (WTE), industrial waste biomass and solar power developments.

The agreement establishes a structured framework to assess the technical and commercial viability of renewable energy projects within the Indonesian province, which has a population of more than nine million people.

Citaglobal said the initiative builds on renewable energy and circular economy capabilities it has developed in Malaysia through a series of strategic collaborations and investments.

Among them is its participation in the consortium comprising Masdar, Citaglobal Renewable Energy and TIZA Global for the 200MW floating solar photovoltaic project at Chereh Dam in Pahang, which has secured a power purchase agreement with Tenaga Nasional Berhad.

The group is also expanding its bioenergy portfolio through a Bio-CNG collaboration with Keppel Decarb, while its 55% stake in LAWI Engineering GmbH provides access to waste-to-energy technologies.

Citaglobal said Lampung offers strong potential for renewable infrastructure due to its sizeable municipal waste management requirements and large agricultural sector, which generates biomass feedstock from commodities such as cassava, coffee and corn.

The province is also seeking to expand clean energy capacity to support industrial downstream activities.

Under the MoU, Citaglobal will coordinate feasibility studies through a Joint Working Group established with the consent of the Lampung Provincial Government.

Should the studies confirm the projects’ viability, Citaglobal will receive the first opportunity to negotiate development terms. The company said further progression would involve evaluating project structures, commercial models and funding arrangements to ensure developments are undertaken on a disciplined and bankable basis.

Malaysia Closely Monitoring Greek Shipwreck Incident Involving 5 Citizens

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Malaysia Closely Monitoring Greek Shipwreck Incident Involving 5 Citizens

The Ministry of Foreign Affairs is closely monitoring a shipwreck incident off the coast of Kastellorizo, Greece, involving five Malaysian nationals, all of whom were successfully rescued by the Greek Coast Guard.

In a media advisory issued on Tuesday, Wisma Putra said the incident occurred on 12 May 2026 after the vessel reportedly suffered technical and navigational system failures during its voyage.

Preliminary reports indicated that the vessel struck a coral reef before sinking near the coast of the Greek island.

According to the ministry, three of the Malaysians were released by Greek authorities after completing documentation and immigration procedures.

However, two other Malaysians are currently being detained by local authorities to assist in investigations into alleged breaches of local environmental laws linked to damage to the marine ecosystem caused by the collision with the reef.

The ministry said the Embassy of Malaysia in Bucharest, Romania, is in close contact with relevant Greek authorities and is providing the necessary consular assistance to ensure the safety, welfare and legal rights of the detained Malaysians are protected throughout the legal process.

Kastellorizo is a small Greek island located in the eastern Mediterranean near the Turkish coast.

EI Power Berhad Delivers RM6 Million In Profit For 1Q As It Heads For Listing

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EI Power Berhad Delivers RM6 Million In Profit For 1Q As It Heads For Listing

EI Power Berhad announced its first quarter financial results ended 31 March 2026. There are no comparative figures for the preceding corresponding quarter and year-to-date results as this is the first interim financial result being announced in compliance with the ACE Market Listing Requirements of Bursa Malaysia.

For 1QFY26, the Company recorded revenue of RM20.7 million, primarily contributed by its engineering, procurement, construction and commissioning (“EPCC”) of mission critical power solutions, which accounted for 98.0% of total revenue. The remaining contribution came from conventional power solutions and renewable energy power solutions.

In terms of profitability, EIP registered a gross profit of RM9.8 million, while profit before tax stood at RM8.0 million with a PBT margin of 38.5%. Profit after tax came in at RM6.0 million, representing a PAT margin of 29.1%.

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