SINGAPORE (Aug 23): The Edge Singapore scooped up two awards at the SGX Orb Awards on Wednesday (Aug 21), after receiving five nominations across six categories. 

Ben Paul, our editor-at-large, won the Story of the Year — Securities award for a piece titled “Buffett’s methods ought to be as much of an inspiration to corporate boards as to investors” (Issue 881, May 13). Paul had compared the manner in which billionaire investor Warren Buffett reports the performance of Berkshire Hathaway to his fellow shareholders with the way the boards and top management of Singapore-listed companies engage the market. “In my view, investors are not drawn to Berkshire only because of Buffett’s enormously successful investment approach,” Paul wrote. “Many of them simply like being treated as real owners of the businesses under the group.”

The Edge Singapore wins big at SGX awards

Prudential’s Barry Stowe, who retired in Dec 2018, was the highest paid CEO among Singapore listed companies in 2018.

Besides being listed in London, Prudential has a secondary listing on the Singapore Exchange since May 2010.

Who are the 40 highest-paid CEOs among Singapore's listed companies?

Genting Singapore independent director Koh Seow Chuan has been a board member since 2008. However, judging from his past behaviour, the retired renowned architect prefers not to hold shares in the company. According to a May 13 filing with the stock exchange, Koh sold all his 125,000 shares on May 10. The shares were awarded to him less than three months ago, as part of the company’s performance share scheme for its board of directors and employees.

Genting Singapore independent director Koh sells all his shares — as is his usual practice

Following an acquisition spree between 2012 and 2016, luggage maker Samsonite International has cemented its position as the market leader in the industry. With multiple brands and product ranges, the company’s focus now is to build on each of these acquisitions and grow a larger customer base.

Samsonite International digests acquisitions; upbeat on Asia’s growing travel market despite 1Q hiccup

The row over the palm oil industry and the detrimental effects it has on the environment has intensified in recent weeks, fired up by the European Union’s plan to curb the use of palm oil in biofuels. Significantly, biofuels only emerged in the last decade or so as another use for palm oil as the world looked for renewable sources of energy.

Pay up, or they give up

While the proposal by Teresa Kok, Malaysia’s minister of primary industries, to cap oil palm plantations in Malaysia at 6.5 million hectares by 2023 grabbed headlines in March, some environmentalists were uncomfortable with the target.

Greater transparency required to curb deforestation in Malaysia

After the longest Parliament sitting in Singa­pore to debate legislation, the city state passed a law that gives portfolio ministers — part of the group of political office holders in Singapore — the power to decide what amounts to news that is false and against the public interest, and order that it be either corrected or taken down.

What went on behind the passing of Singapore's new fake news law

If there is one thing that internet and app-oriented start-ups track closely regardless of the industry they operate in, it is the conversion rate. This metric measures how much user traffic is translated into a desired action, for instance, sales.

This startup plans to permanently integrate its offerings with Grab

With local brokerage firms already under siege from slumping commissions and waning investor interest, the ongoing trial of  John Soh Chee Wen and Quah Su-Ling in relation to the 2013 penny stock crash is unlikely to improve industry morale.

How responsible should brokerages be held for the 2013 penny stock crash?

In a TV interview on April 11, UBS economist Kelvin Tay blamed “political paralysis” in Malaysia for landing the country in an economic bind that includes a “current account deficit” of higher than 3.4%.

Pakatan Harapan's hope for Malaysia

SINGAPORE (April 18): When Malaysian engineering firm Serba Dinamik Holdings became the largest shareholder in systems integrator CSE Global last year, both parties talked about how they could work on projects together.

But one year on, no joint venture projects have been announced, as ...

Things looking up for CSE Global despite lack of JV projects with Serba Dinamik

Two mid-day announcements on April 4 by Hyflux and its rescuer SM Investments left both investors and market watchers confused. First, Hyflux cancelled the meetings to vote on a scheme of arrangement scheduled for April 5 and 8, because it claimed SMI had repudiated the restructuring agreement.

Hyflux rescue bid by SMI falls through amid conflicting statements

Tackling falsehoods has become a high priority for the Ministry of Law.

How Singapore's laws are evolving in the war against fake news

Over the last 20 years, Ivan Chee Yew Fei has been involved in various industries as founder and CEO of Webcon, a privately held diversified company in Malaysia. He led the company to expand into engineering and construction, property development, mining, trading of heavy machinery and investment holding. Now, as iron ore prices remain firm, Chee intends to grow the mining business under newly incorporated Fortress Minerals — by listing the latter on the Catalist board of the Singapore Exchange.

Iron miner Fortress Minerals lists; digs in to meet further demand from China

Ajinomoto (M) Bhd’s RM2.12 special dividend announced in July last year in conjunction with a land disposal exercise will go ex on May 15.

Ajinomoto’s special dividend of RM2.12 goes ex on May 15

Former attorney general Tan Sri Mohamed Apandi Ali's special officer could have won her defamation suit against Sarawak Report editor Clare Rewcastle-Brown, if not for a technicality — that all court pleadings must be filed in Bahasa Melayu, according to the High Court judicial commissioner who presided over the case.

Court says Apandi's former aide could have won defamation suit against Sarawak Report editor if not for a technicality

Chinese President Xi Jinping heads to Europe for the first time in five years next week in a visit that may lay bare European divisions over trade with Beijing and how the continent positions itself as a pole between the United States and China.

Xi's trip to Europe may lay bare West's divisions over China strategy

Aldrich Resources Bhd said it is reconsidering an earlier plan to diversify into dolomite and gold mining, and has suspended these operations for the time being.

Aldrich Resources suspends mining venture after one year

DBS Group Holdings Ltd was hit by renewed disruptions to its Internet banking and payment services in Singapore on Thursday, days after a six-month ban by the island’s central bank over similar glitches ended.

Singapore DBS’ digital services hit days after MAS ban ends

The number of Americans filing new claims for unemployment benefits held steady at lower levels last week as the labour market remains fairly tight.

Initial claims for state unemployment benefits were unchanged at a seasonally adjusted 208,000 for the week ended April 27, the Labor Department said on Thursday.

US weekly jobless claims unchanged; layoffs decline in April

EVENING 5: Five things you need to know today

In today’s edition of Evening 5: 00:00 Microsoft to invest US$2.2 bil in M’sia over four years 02:09 Lotte Chem Titan posts eighth straight quarterly loss 03:51 Westports’ 1Q earnings improve by 11% 05:20 Protasco gets offer from HK firm for its education biz 06:45 Feytech’s Main Market listing to raise over RM201 mil

EVENING 5: Microsoft to invest US$2.2 bil in M’sia over the next four years

Boustead Heavy Industries Corp Bhd (BHIC), which is 64.99%-indirectly owned by the Armed Forces Fund Board (LTAT), has secured a contract worth RM43.6 million from the Ministry of Defence for the in-service support for its Royal Malaysian Navy Prime Minister Class submarines.

BHIC secures RM43 mil contract for navy submarine in-service support

Loss-making Annum Bhd said on Thursday it has received a show-cause notice from Bursa Malaysia over the company's failure to issue its annual report for the financial period ended June 30, 2023 (FY2023), which was due on Oct 31, 2023.

Annum still fails to issue annual report after landing auditor following 31 rejections; hit by Bursa show-cause notice

US software giant Microsoft Corp said on Thursday it would invest US$2.2 billion (RM10.5 billion) over the next four years in cloud and artificial intelligence (AI) infrastructure in Malaysia.

Microsoft to invest US$2.2 bil in Malaysia over next four years on cloud, AI

Protasco Bhd, which has businesses ranging from hotel to engineering, said on Thursday it has received an offer to buy its unit Ikram Education Sdn Bhd which owns the Infrastructure University Kuala Lumpur (IUKL).

Protasco gets offer from HK firm to buy its university unit

Luno, a digital asset exchange (DAX) licensed by the Securities Commission Malaysia, expands its coin offerings with the launch of Cosmos (ATOM) and Polkadot (DOT).

Luno launches two new digital assets

Feytech Holdings Bhd's initial public offer (IPO) on Main Market of Bursa Malaysia is offering&nbsp;252.94 million shares at 80 sen apiece.&nbsp;

Feytech's Main Market IPO to raise over RM201m

Subang Airport, officially known as Sultan Abdul Aziz Shah Airport, will likely be able to handle jet aircraft by the third quarter this year, according to Transport Minister Anthony Loke.

Subang Airport’s jet ops likely to start in 3Q, also eyes business jets — Loke

The additional investment by Microsoft amounting to US$2.2 billion or RM10.5 billion in the country over the next four years is the largest single investment by the company in its 32 years in Malaysia.

Microsoft’s new US$2.2b outlay is company’s largest single investment in Malaysia, says Anwar

Smart Asia Chemical Bhd, an industrial paint and coating manufacturer, on Thursday has begun taking orders from investors for its ACE Market initial public offering (IPO) that would raise up to RM37.4 million.&nbsp;

Smart Asia Chemical starts taking orders for ACE Market IPO to raise RM37.4 mil

Mechanical and electrical engineering services provider Pasukhas Group Bhd has secured a RM56.98 million contract to build a data centre in Selangor.

Pasukhas secures RM57m contract from US company to build data centre in Selangor 

The High Court on Thursday dismissed Tengku Datuk Zafrul Abdul Aziz's application to file an affidavit with regards to Datuk Seri Najib Razak's judicial review application to unearth an addendum to his pardon order that detailed he was to spend the remainder of his sentence under "house arrest".

Court rejects Zafrul’s bid to file affidavit on Najib’s ‘house arrest’ order

Shares of Ge-Shen Corp Bhd rose as much as 14.91% to a new record high of RM4.47 on Thursday, following the emergence of Chin Hin Group’s Chiau family as its second largest shareholder.

Ge-Shen shares hit new high on emergence of new substantial shareholder

Yinson Production, the offshore production business unit of Yinson Holdings Bhd, has closed the limited recourse term loan facility of up to US$1.3 billion (RM6.2 billion) for the pre- and post-delivery financing of the Agogo floating, production, storage and offloading (FPSO) vessel, which will be deployed in Angola.

Yinson unit secures single largest term loan of US$1.3b to finance Agogo FPSO delivery

US President Joe Biden included ally Japan along with rivals China and Russia in a list of countries he called “xenophobic” in a speech at a campaign fundraising event in Washington.

Biden calls ally Japan ‘xenophobic’ along with China, Russia

The Federal Communications Commission (FCC) is moving to prevent Huawei, ZTE and other foreign companies deemed to pose US national security concerns from certifying wireless equipment, officials told Reuters on Wednesday.

US moves to bar Huawei, other Chinese telecoms from certifying wireless equipment

theedgemalaysia.com highlighted seven stocks with momentum at Bursa Malaysia’s afternoon close on Thursday. Two stocks showed positive momentum while five stocks showed negative momentum.

GHL Systems, Oppstar, Bursa Malaysia, Country View, Fiamma, Marco, Tambun Indah 

Malaysia’s biggest port operator Westports Holdings Bhd said on Thursday its net profit rose 11.4% year-on-year (y-o-y) in the first quarter, thanks to higher container revenue, coupled with higher finance income and share of results of a joint venture (JV).

Westports' 1Q net profit up 11% on higher container revenue, finance income and share of results of JV

Smart Asia Chemical Bhd, en route to Bursa Malaysia’s ACE Market, expects its new plant in Perak to triple its production capacity while allowing the paint and coating manufacturer to be closer to its clients.

Smart Asia Chemical to triple capacity with new plant from IPO proceeds

South Korea's SK Hynix said on Thursday its high-bandwidth memory (HBM) chips used in AI chipsets were sold out for this year and almost sold out for 2025 as businesses aggressively expand artificial intelligence services.

Nvidia supplier SK Hynix says HBM chips almost sold out for 2025

The El Nino phenomenon hitting the country is expected to continue for the next two months, said Natural Resources and Environmental Sustainability Minister Nik Nazmi Nik Ahmad.

El Nino to last two more months; 2024 could be Malaysia’s hottest year — Nik Nazmi 

Local authorities' investigations into 1Malaysia Development Bhd (1MDB) involved "thousands" of documents, and not all of them could be specifically shown to imprisoned former prime minister Datuk Seri Najib Razak when his statement was recorded, the court heard on Thursday.

MACC IO says 'thousands' of docs involved in 1MDB probe, impossible to specifically show every single one to Najib

ExecuJet MRO Services Malaysia, a subsidiary of luxury business aircraft maker Dassault Aviation, inaugurated its new maintenance, repair and overhaul (MRO) facility at Subang Airport on Thursday.

In The Edge Singapore This Week

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In The Edge Singapore This Week

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