At 8 am, the local currency traded at 3.9340/9450 against the greenback, compared with Wednesday’s close of 3.9395/9465. "Markets will be watching the OPR decision later today. On the recent surge in global oil prices, Mohd Afzanizam said crude markets remain driven by developments in the Middle East. However, the country imports oil for domestic consumption, while most of its higher-grade crude is exported at better premiums. On Wednesday, the ringgit traded in a tight range of RM3.9378 to RM3.9540 against the US dollar, and he expects similar conditions to persist on Thursday as traders remain in risk-off mode.

The S&P 500 remained close to its all-time closing high, in January, also helped by positive reports on the US economy. The S&P 500 is down 0.14% and the Dow has fallen 0.49% this week. The energy sector led declines on the S&P 500 on Wednesday as stocks that had climbed in recent days on rising oil-price fears reversed course. Several Middle Eastern countries have temporarily halted oil and gas production and the US was looking to expand its campaign inside Iran. Oil prices settled unchanged on Wednesday at the end of a volatile trading session.

KLUANG: A local man was arrested after a video of him being naked in public at Jalan Mengkibol near here went viral. Kluang OCPD Asst Comm Bahrin Mohd Noh said the incident took place on March 3 at 7pm. “The suspect was arrested on Wednesday (March 4) at Taman Sunrise Park at 4pm near here,’’ he said in a statement. ACP Bahrin said the man has a previous criminal record and tested negative for drugs. Those with information on the case can contact the Kluang District Police at 07-7784222, 07-7784256 (Direct Line), 07-7766822 (Hotline) or Tablet DCC:0143656822.

DELICIOUS local coffee, cheaper groceries and value-added servi­ces are some of the things that keep Singaporeans returning to Johor Baru. “I enjoy taking day trips once a week to Johor Baru on my motorcycle to look for good food. In Johor Baru, he has a routine – a motorbike wash at Taman Maju Jaya, followed by a meal at his favourite eatery. “The cheap and delicious Hainanese coffee and toast served in Johor Baru kopitiam outlets are enough to keep me coming back. “There is so much to explore, as many of such restaurants have opened in Johor Baru in recent years,” she said.

But at Masjid India Johor Baru here, these dishes are served daily for free throughout the fasting month. Five cooks at the mosque in Jalan Duke churn out fresh pots of the rice-based dishes for about 600 people. “Spices from India are blended with local ingredients for an authentic taste,” he said at the 75-year-old mosque. He said in the past, Ramadan spread at the mosque used to serve about 200 people daily, adding that the number grew significantly after the easing of Covid-19 lockdown restrictions. The mosque also distributes about 800 packs of bubur lambuk, cooked fresh daily.

Now, in late February, the US-Israel attacks on Iran, sparking concerns over a deepening regional conflicts in the Middle East. The US-Israel attacks on Iran may be different from past episodes of the Middle East conflicts. Crude oil prices overreacted with upward spikes followed by a gradual stabilisation as trade flows re-routed and geopolitical tensions de-escalated. Persistent energy prices and elevated raw material costs inflicted by the Middle East tensions could be a significant driver of cost-push inflationary pressures. Similarly, the US dollar gained some renewed interest as a deepening conflict in the Middle East prompted a flight to safety.

Brent crude settled at US$81.40 per barrel, flat to Tuesday's close and at its highest since January 2025. US West Texas Intermediate crude settled 10 cents, or 0.1%, higher at US$74.66, closing at its highest since June for the second day in a row. "The US has signalled a four- to five-week campaign, Iran is seeking to regionalise the conflict and the crucial Strait of Hormuz chokepoint is effectively shut. These developments could overturn previously unfavourable supply-demand dynamics, pushing crude higher and bringing the US$100 threshold into view," Tzabouras added. US gasoline stocks fell by 1.7 million barrels, while distillate stockpiles, which include diesel and heating oil, rose by 429,000 barrels in the week.

He also questioned why the government was continuing to do so after the Supreme Court ruled the tariffs illegal. Since then questions have swirled around when and how importers may get refunded more than US$100 billion in IEEPA tariffs. Under questioning from the judge, Burke confirmed that Customs is continuing to liquidate import entry paperwork to include IEEPA tariffs, all but ensuring the refund process for those importers will be more complicated. Under the judge’s order, the liquidation process can only be completed going forward without IEEPA tariffs and many liquidations that were already completed must be reversed. More than 2,000 refund lawsuits are pending in the trade court, nearly all of which were filed after the Supreme Court heard arguments in November.

(March 5) : It’s never been more expensive to ship crude from the US to Asia, though some deals are starting to fall through already with rates sky-high. The global energy industry has been rocked by the widening Middle East fighting, with the impacts playing out in spiking oil prices, snarled shipping and fears of higher inflation. The activity has helped lift prices for US grades such as Mars Blend, whose premium to WTI crude hit the biggest since 2020, according to General Index data. Thai refiner PTT had provisionally booked a ship at around US$29 million, according to shipbrokers familiar with the costs. Transocean Ltd was charging an average of US$470,000 a day for ultra-deepwater rigs during the final three months of 2025.

(March 5) : A report underscoring economic resilience and cooling inflationary pressures drove stocks higher at a time when the war in the Middle East clouds the growth outlook. President Donald Trump expressed confidence in the military campaign against Iran even as the timeline for operations remained unclear. Tehran targeted Israel and Gulf states while Israeli and American forces followed through on pledges to bomb targets in the Islamic Republic. This could change if the Iran conflict heats up, but for now, “we are in a guarded uptrend,” he added. Still, he continues to think that “a low has been made and we should be playing offense more than defense.”

The installation also features the 12 “guardians”, symbolising the 12 animals of the Chinese zodiac. Upon stepping onto the iconic red bridge at Kwai Chai Hong, visitors are greeted by rows of colourful lanterns adorned with cartoon-style illustrations of the 12 Chinese zodiac signs. Cartoon-style illustrations depicting a family alongside a few zodiac animals form the backdrop of the art installation for the festival. “The cloth tiger was placed right in the cradle, surrounded by stitched animals, each symbolising a different virtue. A visitor in a ‘cheongsam’ walks by an illuminated monkey figure, one of the 12 animal zodiac signs.

PETALING JAYA: It was an impressive debut for Malaysia’s young men’s doubles pair Aaron Tai-Khang Khai Xing at the All-England as they pulled off a stunning upset over world No. 4 Satwiksairaj Rankireddy-Chirag Shetty of India in the first round on Wednesday (March 4). 33 Aaron-Khai Xing showed no signs of nerves against the World Championships bronze medallists, sealing a 23-21, 21-12 victory in just 42 minutes. Awaiting the world junior champions in the second round will be either China’s Chen Boyang-Liu Yi or Taiwan’s He Zhi-wei-Huang Jui-hsuan.

IPOH: An unidentified victim was found burnt in a crashed car that was ablaze at KM284 northbound of the North South Expressway near here. Perak Fire and Rescue Department assistant director of operations, Sabarodzi Nor Ahmad, said the victim was found trapped in the vehicle after an emergency call was received on Wednesday (March 4) at about 6.30pm. "The car is believed to have crashed into a tree before it burst into flames. "We were unable to identify the victim," he said in a statement. "The body has been removed from the wreckage and handed over to the police," he added.

KUALA LUMPUR: Xin Hwa Holdings Bhd ’s wholly owned subsidiary, Xin Hwa Trading & Transport Sdn Bhd, has secured a transportation service order worth about RM3.44mil from Malaysia Marine and Heavy Engineering Sdn Bhd. The tenure of the contract is 10 months and is expected to end by Dec 31, 2026. Xin Hwa said the contract value is based on the estimated number of trips required, with claims to be made based on actual work carried out according to the agreed rates. “Despite the contract does not constitute a fixed lump sum value, based on mutual understanding between XHTT and MMHE, XHTT expected to generate revenue of close to the contract value for the 10-month contract period,” it said. The contract is expected to contribute positively to the group’s earnings for the financial year ending March 31, 2027.

KUALA LUMPUR (March 4): Property developer Bedi Bhd (KL:BEDI), which was known as WMG Holdings Bhd up until September 2025, is buying an 8.7-acre parcel of land in Penampang, Sabah, for RM15.92 million. The acquisition is part of its strategy to secure strategic locations for future mixed-development projects, Bedi said in a bourse filing on Wednesday. A sale and purchase agreement has been inked between its unit, Wah Mie Realty Sdn Bhd, and the vendors — Lee Fui Chen, Lee Vun Yeng, Lee Vun Yee, Lee Tien Rui and Lee Sheng Chieh — for the deal. The vendors have agreed to subdivide the parcel into two lots, with the 8.7-acre portion to be sold to Bedi’s unit. As at end-December last year, it had RM66.44 million cash and RM102.28 million in total borrowings.