<div class=newsTextDataWrapInner><p>SINGAPORE (April 19): Singapore Telecommunications (Singtel) has filed an appeal after a court in Australia ruled that its subsidiary is to pay a A$393 million (about RM1.23 billion) tax bill that can be traced back to the company’s acquisition of Optus back in 2001.</p></div>

<div class=newsTextDataWrapInner><p>The ruling was made on Dec 17 against Singtel’s local unit Singapore Telecom Australia Investments.</p></div>

<div class=newsTextDataWrapInner><p>The sum consists of primary tax of A$268 million, interest of A$58 million&nbsp;and penalties of A$67 million and follows an amended assessment by the Commissioner of Taxation<a href="https://www.theedgesingapore.com/news/telecommunications/singtel-appeal-against-a393-million-tax-ruling-australia" target="_blank"><em> ... (click on link for full story on theedgesingapore.com).</em></a></p></div><div class=inPageAd id=div-gpt-ad-inpage></div>


Singapore Telecommunications (Singtel) has filed an appeal after a court in Australia ruled that its subsidiary is to pay a A$393 million (about RM1.23 billion) tax bill that can be traced back to the company’s acquisition of Optus back in 2001.

Singtel to appeal against A$393m tax ruling in Australia

The Ministry of Energy Transition and Water Transformation (Petra), in collaboration with The National Water Services Commission (SPAN), is poised to establish and devise the framework for implementing transformative measures in the water services sector over the next decade.

Fadillah: Petra, SPAN to drive implementation of transformative measures for water services sector

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.

Critical point failure could’ve led to fatal Lumut chopper crash, says expert

KOTA BHARU (April 23): The man involved in the shooting incident at the Kuala Lumpur International Airport (KLIA) in Sepang on April 14 will be charged in a Kota Bharu court on Wednesday (April 24), according to the police.

KLIA shooting suspect to be charged in Kota Bharu on Wednesday

Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

Sarawak eyeing partnership with UK companies to boost semicon capabilities

Malaysia's education system must be synonymous with the development of the country, said Higher Education Minister Datuk Seri Zambry Abd Kadir.

Zambry: Education system must be synonymous with country’s development

IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.

Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

The M503-3 Maritime Operations Helicopter (HOM) that was involved in a crash Tuesday morning was used for the first time in the flyby for the 90th Royal Malaysian Navy (TLDM) Anniversary parade.

Downed HOM chopper used for the first time in flyby, says defence minister 

BENGALURU (April 23): Gold prices extended losses for a second day to hit a more than two-week low on Tuesday, as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of key US economic data this week.

Gold drifts lower for second day as Middle East fears subside

Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.

Wall Street gains on bright earnings, megacaps' support

<p>While Sapura Energy Bhd has resolved one key condition of its reset plan, analysts did not change their recommendations on the group, as there is still an arduous journey ahead for the group to address its balance sheet position.</p>


Sapura Energy not out of the woods yet as large debts still in its way

<p>KUALA LUMPUR (April 23): Malaysia has emerged as the most significant country within Asean for businesses to venture into, as shown by the UOB Business Outlook Study 2024 (SMEs &amp; Large Enterprises).</p>


Malaysia emerges as prime destination for Asean biz expansion — UOB study

<p>KUALA LUMPUR (April 23): Former Sapura Energy Bhd chief executive officer Tan Sri Shahril Shamsudin has settled his defamation lawsuit against Economics Minister Rafizi Ramli out of court.</p>


Ex-Sapura Energy CEO Shahril settles defamation suit against Rafizi

<p>Construction and engineering contractor Crest Builder Holdings Bhd said it had secured a condominium project valued at RM486 million in Mont Kiara. &nbsp;</p>

<p>The project, awarded by Kiaramas Development Sdn Bhd, involves the construction of three blocks of condominiums with car park podiums in Jalan Desa Kiara.&nbsp;The contract period is 42 months from May 2, according to Crest Builder in a filing with Bursa Malaysia on Tuesday.</p>


Crest Builder bags RM486m condominium project in Mont Kiara

<p>Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday, thanks to buying from local and foreign institutions, said an analyst.&nbsp;</p>


Bursa ends higher on buying support from local and foreign institutions

<p>Apple's smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020, as its dominance in the high-end segment came under pressure from Huawei's new product launches, market data showed.</p>


Apple's 1Q smartphone shipments in China tumble 19%, data shows

<p>KomarkCorp Bhd, which lost its defamation suit against The Edge Communications Sdn Bhd in the High Court last month, is appealing against the court's decision, which found that the media company had not defamed it in an article about the manipulation of penny stocks that was published nearly three years ago.</p>


KomarkCorp appeals against High Court's ruling that The Edge did not defame the company

<p>KUALA LUMPUR (April 23):&nbsp;The Iskandar Regional Development Authority’s (IRDA) target to achieve&nbsp;cumulative investments of RM636 billion by 2030 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness.</p>


Iskandar Malaysia’s RM636b investment target to help propel country into world's top 30 economies — PM

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


<p>KUALA LUMPUR (April 23): Gadang Holdings Bhd said it will appeal to the Economic Planning Unit (EPU) for a waiver of the Bumiputera equity requirement to facilitate its acquisition of a 21.08-acre land in Kwasa Damansara.</p>

<p>In a bourse filing on Tuesday, the builder-cum-property developer...

Gadang to lodge appeal over Bumi equity requirement in Kwasa Damansara land acquisition 

<p>Comfort Gloves Bhd said there was a fire at the glove maker’s newly-built three storey warehouse and packing department in Taiping, Perak on Tuesday morning.</p>

<p>“The cause of the fire and the actual extent of the damage are currently still unknown, pending the completion of police investigations into the fire and issuance of their report,” the group said in a bourse filing.</p>


Comfort Gloves reports fire at new Taiping warehouse

<p>The Malaysian Oil, Gas &amp; Energy Services Council (MOGSC) has called on oil and gas (O&amp;G) stakeholders, especially financial institutions, not to write off O&amp;G services and equipment (OGSE) players in the energy transition agenda, as they still have a role to play.</p>


Don't forget O&G services and equipment players in energy transition agenda, says industry association

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EVENING 5: Five things you need to know today

<p>While the opening of The Exchange TRX is anticipated to intensify competition in the malls sector, Pavilion Real Estate Investment Trust (PavREIT) said footfalls at its malls nearby — Pavillion KL and the connected Pavilion Elite — remain unaffected, and they are still enjoying over 95% occupancy rates.</p>


PavREIT says Pavilion KL, Elite's footfalls unaffected by opening of TRX mall

<p>Millennial and Generation Z (Gen Z) Muslims in Southeast Asia are increasingly embracing&nbsp;Islamic banking, with 77% of Malaysians and 65% of Indonesians surveyed using it alongside traditional banking, compared with only 31%&nbsp;globally, according to a report.</p>


Millennial, Gen Z Muslims in Malaysia increasingly embracing Islamic banking — report

<p>KUALA LUMPUR (April 23): DXN Holdings Bhd posted a 43.23% rise in net profit to RM79.02 million for its fourth quarter ended Feb 29, 2024 (4QFY2024), from RM55.17 million a year ago, on the back of higher revenue.</p>

<p>Earnings per share rose to 1.59 sen from 1.14 sen, according to the healt...

DXN’s 4Q net profit up 43%, seeks to expand market presence in Brazil

<p>KUALA LUMPUR (April 23): Construction outfit Haily Group Bhd has secured a RM109.5 million contract to undertake the construction and completion of 332 units of double-storey terrace houses in Pontian, Johor.</p>


Haily bags RM109.5 mil housing jobs in Johor from Gadang’s unit

<p>Chin Hin Group Bhd’s conditional mandatory takeover offer to acquire the remaining shares it does not own in Signature International Bhd has turned unconditional, after it aggregated more than 50% of the voting shares.</p>


Chin Hin's MGO for Signature International turns unconditional as shareholding surpasses 50%

<p>Ramssol Group Bhd, a human capital management (HCM) solutions provider, reported a near doubling of its first quarter profit mainly due to certain projects with higher profit margin and the distributorship of HCM licences.</p>


Ramssol’s 1Q profit doubles as revenue surges on higher sales in Malaysia, Thailand

<p>Global equities are more attractive after the recent rout removed market froth and as investors focus on robust corporate earnings, according to Citigroup Inc strategists.</p>
