<div class=newsTextDataWrapInner>SINGAPORE (Aug 17): Of the sectors impacted by the Covid-19 pandemic, three in particular — aerospace, aviation, and tourism — have been hit the hardest.</div>

<div class=newsTextDataWrapInner>Not only that, but the sectors are also “important parts of our economy”, says Deputy Prime Minister and Finance Minister Heng Swee Keat, in his live telecast on Aug 17.</div>

<div class=newsTextDataWrapInner>“In particular, Singapore’s position as a global business node depends on our connectivity as an air hub. The Changi Air Hub and its adjacent industries contribute to over 5% of Singapore's GDP and employ more than 190,000 people. Tourism adds vibrancy to our retail and F&amp;B sectors,” he noted. 
 
As such, Heng announced that the Singaporean government will provide<a href="https://www.theedgesingapore.com/news/covid-19/aerospace-aviation-and-tourism-sector-get-additional-support-507-mil-dpm-heng" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

Of the sectors impacted by the Covid-19 pandemic, three in particular — aerospace, aviation, and tourism — have been hit the hardest.

Not only that, but the sectors are also “important parts of our economy”, says Deputy Prime Minister and Finance Minister Heng Swee Keat, in his live telecast on Aug 17.

Singapore’s aerospace, aviation and tourism sector to get additional S$507 mil support: DPM Heng

A pair of traders in Hong Kong have left Societe Generale SA (SocGen) after the French bank discovered a batch of risky bets that went undetected by the firm’s risk-management systems, according to people familiar with the matter.

SocGen traders in Asia exit after options bets go undetected

There have been no discussions between the Terengganu state government and the federal government regarding the proposal to implement public caning for shariah offences in the state.

Public caning: No discussions between Terengganu, federal govts, says Azalina

Malaysia received 5.8 million foreign tourists from January to March this year, which was a growth of 32.5% compared with 4.3 million for the same period last year.

Tourism, Arts and Culture Minister Datuk Seri Tiong King Sing said the top ten tourist-generating markets for Malaysia were Singapore, Indonesia, China, Thailand, Brunei, India, South Korea, Australia, the United Kingdom and the Philippines.

Malaysia received 5.8 mil tourists from January to March this year — Tiong

Duopharma Biotech Bhd has accepted 11 letters of offers from a subsidiary of Pharmaniaga Bhd to supply 86 pharmaceutical and/or non-pharmaceutical products worth RM578.09 million in total, to government offices and facilities that Pharmaniaga operates.

Duopharma secures RM578 mil supply contracts from Pharmaniaga

Rimbunan Sawit Bhd is expecting around 40% increase in its fresh fruit bunches (FFB) production for the current financial year ending Dec 31, 2024 (FY2024) and is anticipating higher crude palm oil (CPO) prices for the year due to growing demand.

Rimbunan Sawit expects bumper crop in FY2024, FFB production to grow 40% 

Communications Minister Fahmi Fadzil has slammed Bersatu supreme council member Dr Afif Bahardin for making sexist remarks against Pakatan Harapan’s (PH) Kuala Kubu Baharu (KKB) by-election candidate Pang Sock Tao.

KKB by-election: Fahmi tells Afif not to be a sexist

Police will discuss with the Attorney General this week to determine the next course of action against 10 men who were linked to an Israeli man charged with trafficking in firearms.

Police to meet AG on further action against 10 Sosma detainees linked to Israeli man

The Sessions Court here on Tuesday was told that the contract for the ‘Central Spine Road: Sertik to East Coast Highway Intersection’ project worth RM232 million was awarded to Nepturis Sdn Bhd.

Central Spine Road project worth RM232 mil awarded to Nepturis, says witness

PUTRAJAYA (April 30): Perlis Menteri Besar Mohd Shukri Ramli on Tuesday testified for almost nine hours at the Malaysian Anti-Corruption Commission (MACC) headquarters here.

The Toyota Noah vehicle carrying him was seen leaving the MACC compound at 6.55pm after appearing to give his sta...

Perlis MB gives statement for almost nine hours in MACC

he Malaysian Anti-Corruption Commission (MACC) has detained two high-ranking officers of a water supply company in the state on suspicion of receiving bribes from two contractors.

MACC detains two water supply company officers over alleged bribery

The High Court has ruled that the Joint Management Body (JMB) of Centrestage Petaling Jaya had the right to claim certain areas in the development as common areas and not private areas belonging to the developer and the purchaser.

High Court rules that common areas in Centrestage PJ belong to Joint Management Body

KUALA LUMPUR (April 30): Sime Darby Plantation Bhd, the world’s largest palm oil producer by acreage, said on Tuesday that it plans to change its name to SD Guthrie Bhd.

Sime Darby Plantation plans to change name to SD Guthrie

Indonesia is planning to offer dual citizenship to its skilled diaspora as part of efforts to stem a brain drain of local talent.

Indonesia plans to offer dual citizenship to halt brain drain

KUALA LUMPUR (April 30): The average price for new apartments in Kuala Lumpur has surged to RM708,462, which is seen as surpassing the national average and setting a new benchmark in the industry, according to the real estate technology group Juwai IQI.

Average new apartment price in Malaysia hits RM582,887, surpassed by KL and Johor  — Juwai IQI

SEG International Bhd’s (SEGi) group managing managing director and major shareholder Tan Sri Clement Hii has bought out private equity firm Navis Capital Partners Ltd' 20.55% stake in SEGi for RM112.98 million cash — or 45 sen per share — triggering a mandatory takeover offer for the remaining shares in the education group at the same price.

Clement Hii buys out PE fund Navis Capital in SEGi for RM113 mil, triggers mandatory offer

Microsoft will invest US$1.7 billion (RM8.1 billion) over the next four years into expanding cloud services and artificial intelligence in Indonesia, including building data centres, visiting chief executive Satya Nadella said on Tuesday.

Microsoft to invest US$1.7b in cloud, AI in Indonesia, CEO says

Ekuiti Nasional Bhd, the state-owned private equity firm also known as Ekuinas, said on Tuesday it has acquired an 80% stake in pharmaceutical ingredients maker Symbiotica Speciality Ingredients Sdn Bhd.

Ekuinas acquires 80% stake in pharma ingredients maker Symbiotica

Capital A CEO Tan Sri Tony Fernandes said the low-cost carrier, which will soon merge with AirAsia X Bhd (AAX), to incorporate a “sustainability fee soon”.

AirAsia will charge 'sustainability fee soon' in airfares

KUALA LUMPUR (April 30): Stock exchange operator Bursa Malaysia Bhd said on Tuesday that its net profit rose 34% in the first quarter of the year, from a year earlier, thanks to higher trading activity and fees from listings and other services.

Bursa Malaysia’s 1Q net profit surges 34%, optimistic to hit 2024 targets

HSBC said on Tuesday its chief executive Noel Quinn will retire — a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.

HSBC chief executive Quinn announces surprise retirement

Oil palm plantation player MKH Oil Palm (East Kalimantan) Bhd (MKHOP) is the second company this year to conclude its maiden trading day on Bursa Malaysia with its share price slipping below its initial public offering (IPO) price.

MKH Oil Palm sinks at close of its Main Market debut

KUALA LUMPUR (April 30): Kucingko Bhd said on Tuesday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, setting it to be the first animation production studio to be listed on the Malaysian stock exchange.&nbsp;

Animation production house Kucingko gets nod from Bursa for ACE Market IPO

Iconic Worldwide Bhd’s latest condominium development dubbed Iconic Harmony in Bukit Mertajam, Penang, has been 70% taken up since its official launch on April 22.

Iconic Worldwide achieves 70% take-up rate for Iconic Harmony, announces upcoming plans in Penang

GUH Holdings Bhd said on Tuesday its construction division has secured an RM69.49 million contract under the Sungai Rasau water supply scheme project from Gamuda Bhd.

GUH secures RM69.49 mil subcontract job from Gamuda

Elon Musk has dismissed two Tesla senior executives and plans to lay off hundreds more employees, frustrated by falling sales and the pace of job cuts so far, The Information reported on Tuesday, citing the CEO's email to senior managers.

Musk lays off Tesla senior executives in fresh job cuts — report

MKH Oil Palm (East Kalimantan) Bhd (MKHOP), fresh off its Main Market debut on Tuesday, said it has no replanting plans as almost all of its prime mature oil palm trees are over a decade-old.

Main Market debutante MKH Oil Palm says no replanting activities in coming years 

KUALA LUMPUR (April 30): Datuk Seri Najib Razak’s lawyer has sought to address the High Court over Minister of International Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz’s application to seek leave to file his affidavit with regard to the purported addendum order to the Federal Territory Pardons Board’s decision that allegedly allows the former prime minister (Najib) to serve his remaining sentence under house arrest.

Najib’s lawyer seeks to address court on Tengku Zafrul’s leave to file an affidavit

The late Datuk Azlin Alias, who had been former prime minister Datuk Seri Najib Razak's principal private secretary up until his death, had instructed former 1Malaysia Development Bhd’s (1MDB) chief financial officer (CFO) Azmi Tahir to sign off on some funds transfers meant for investments including the multi-billion Tun Razak Exchange project, the High Court heard on Tuesday.

MACC IO in 1MDB-Tanore trial says Azlin told Azmi to sign funds transfer forms

Chin Hin Group-linked Chiau Haw Loon and Chiau Haw Yew have emerged as the second largest shareholder of Ge-Shen Corp Bhd after acquiring a 18.31% stake in the company.

Chin Hin’s Chiau family buys 18.31% in Ge-Shen for RM30.36 mil

<h3>Banking</h3>

MARKET WEIGHT

UOB KAY HIAN RESEARCH (APRIL 15): As the five digital banks prepare to commence operations in the coming months, we anticipate a f...