Axis REIT to buy distribution centre from City-Link Express for RM128m cash

Axis Real Estate Investment Trust (KL:AXREIT) has announced that its trustee is buying a distribution centre located in Bandar Saujana Putra, Selangor from logistics and courier company City-Link Express (M) Sdn Bhd for RM128 million cash.

FBM KLCI edges higher despite regional sell-off

Last-minute buying helped the FBM KLCI edge higher on Friday, but the broader market remained under pressure amid cautious investor sentiment and a regional sell-off.

Gold under pressure near 7-month low as Fed rate-hike bets boost dollar

Gold prices have dropped to a seven-month low amid rising expectations of interest rate hikes by the Federal Reserve that have strengthened the dollar.

Anwar thanks Putin for Russia’s support on energy cooperation, PETRONAS

Prime Minister Datuk Seri Anwar Ibrahim expressed appreciation to Russian President Vladimir Putin for Russia’s support in strengthening energy cooperation with Malaysia.

Cost control lifts Hartalega earnings to post-Covid-19 high but cost pressures loom

Hartalega Holdings Bhd reported that earnings in the recently ended fiscal year rose to its highest in the post-Covid-19 era but flagged cost pressures ahead.

Most Brits likely to cut back on staycations after tax

Financial pressures may lead to reduced domestic vacations in the UK.

Gobind presses IGP, SC on status of ‘corporate mafia’ probe

National chairman of the Democratic Action Party (DAP) Gobind Singh Deo has urged the Royal Malaysian Police to update the status of investigations into alleged “corporate mafia” activities linked to officials from the Malaysian Anti-Corruption Commission (MACC).

Asean economic ministers say Middle East tensions could slow regional growth, threaten energy security

Asean economic ministers express concerns that ongoing tensions in the Middle East could impact regional growth and energy security.

GDEX to restructure Vietnam business after wider losses at unit

Logistics and express carrier provider GDEX Bhd (KL:GDEX) is restructuring its Vietnam operations amid widening losses at the unit.

Timber industry warns of ‘triple burden’ from tax, fuel and labour pressures

The Malaysian Timber Association (MTA) has called for urgent government intervention, warning that the wood-based sector is facing a ‘triple burden’ of higher taxes, rising diesel costs and foreign labour shortages, which have eroded its competitiveness in the global timber and furniture market.