The decision announced yesterday that managers and supervisors of businesses in areas under the conditional movement control order (CMCO) must work from home, while other staff can work in the office but must pass a Covid-19 test, is both discriminatory and flawed.

The Edge says: Latest work-from-home order a flawed and discriminatory decision

MUMBAI (Feb 10): It’s hard to shrug off a big mess, and that’s an awkward lesson India is learning. The latest vote of no confidence in Gautam Adani’s eponymous infrastructure empire comes from a global index provider. MSCI has cut the free-float status of four Adani stocks which will reduce...

Breakingviews: MSCI’s Adani cut signals fat tail risks for India

WITH the dissolution of Parliament, GE15 is set to be announced over the next 60 days, notwithstanding floods and festivities. The usual excitement is in the air, political parties’ flags are set to fly across the peninsular and East Malaysia.

Pitfalls & Pitch Calls: Parliament dissolved, GE15 is on

Below are excerpts of Petroliam Nasional Bhd (Petronas) chairman Tan Sri Mohd Bakke Salleh's letter to stakeholders.

Petronas chairman: Be prepared to pivot when faced with the unexpected

Media statement by Dr Ong Kian Ming, the Member of Parliament for Bangi, DAP spokesperson for international trade and industry, and a member of the Parliamentary Select Committee on Finance and the Economy, issued on June 30, 2022.

Managing the economy — Part 2: Pursuing a stronger exchange rate regime

There seems to be no ending to the Serba Dinamik Holdings Bhd saga whereby the global integrated oil and gas outfit — to the dismay of the investing fraternity and corporate governance proponents — blatantly disregarded and challenged enforcement actions by the regulators to keep an orderly market.

Is there a light — even a dim light — at the end of the tunnel for Serba Dinamik?

A multipolar nuclear regional balance will freeze the existing configuration of the Indo-Pacific, preventing its domination by any single major power. A multipolar Indo-Pacific maximises manoeuvre space for ASEAN and other small countries.

China’s strategic dilemmas

Media Statement by Dr. Ong Kian Ming, Member of Parliament for Bangi, on March 22, 2022

Comprehensive Labour Market Policy Reforms need to be introduced together with the RM1500 minimum wage

The announcement by the Prime Minister Datu...

Labour Market Policy Reforms need to be introduced together with the RM1,500 minimum wage

As a strong proponent of the anti-hopping law (AHL), I am disheartened at the Cabinet’s decision to postpone the tabling of the AHL in this parliamentary session. As I attempt to understand the Cabinet’s concerns, a few questions beg to be answered.

A recall law will settle the loyalty of frogs

First of all, I would like to express my sincere appreciation to all delegates who have attended the DAP National Congress today (Sunday, March 20) and cast their votes for me.  I am extremely grateful for the support.

Statement by Tony Pua on DAP National Congress 2022

Media statement by Dr Ong Kian Ming, the Member of Parliament for Bangi and the assistant political education director for the Democratic Action Party (DAP) on March 1, 2022:

How Russian invasion of Ukraine will affect the average M'sian and how this should shape M'sian govt response

In the near term, we think that bond investors could go overweight on Malaysian bonds to seek cover. Malaysia is the only Asian economy with a positive oil trade balance, and so would marginally benefit from higher oil prices via higher terms of trade. Yield sensitivities to US rates are also low among Asia bonds. Though foreign ownership of Malaysian Government Securities/Malaysian Government Investment Issues (MGS/MGIIs) is high (20+%), a significant portion of foreign holdings is held by foreign central banks and governments, which is expected to be more sticky and less susceptible to swings in global risk sentiments. We think that Malaysian bonds offer the best profile to ride out the Russia-Ukraine conflict.

DBS thinks Malaysian bonds offer best profile to ride out Russia-Ukraine conflict

Following the Asian financial crisis of 1997, competition law was passed as legislation within the top ASEAN economies in the first half of the past two decades. In Malaysia, the Competition Act 2010 came into force in 2012, with the Malaysia Competition Commission (MyCC) tasked by Parliament with implementing and enforcing competition law. The MyCC plays the important role of not only enforcing competition law, but in public advocacy and education of this piece of legislation to the Malaysian public in appreciating the benefits of competition against the restraints of past industrial practices of direct dealings and monopolistic "state champions".

A missed opportunity of a judicial review for Malaysia Competition Commission

The Malaysian Bar is perturbed by the recent events that have unfolded regarding the Malaysian Anti-Corruption Commission (MACC) and its leaders. Allegations have surfaced about MACC chief commissioner Tan Sri Azam Baki's alleged extensive ownership of shares in a public listed company and that his share trading account was used by his brother to trade in shares. On Jan 5, 2022, MACC Anti-Corruption Advisory Board (ACAB) chairman Tan Sri Abu Zahar Ujang stated during a press conference that the ACAB had absolved Azam of any wrongdoing.

Malaysian Bar president weighs in on allegations concerning MACC transparency

LONDON (April 26): One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other -- Sunday's short trip to arch-rivals Tottenham Hotspur.

Like all big city derbies, pride and bragging rights are always...

Arsenal face derby test with title up for grabs

(April 26): Foreign states are using UK universities to “steal advantage” by covertly acquiring British intellectual property, the government warned, saying it would explore proposals to protect cutting-edge research and technology.

After an internal review found other countries are tar...

UK warns universities about research threat from foreign states

(April 26): The Tesla Inc. shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.

Tesla inves...

Tesla fires back at investor who doesn’t want pay fight in Texas

(April 26): Former President Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter....

Trump advisers discuss penalties for nations that move away from the dollar

NEW YORK/LONDON (April 26): Stocks snapped a three-day winning streak on Thursday as disappointing forecasts from Facebook and Instagram owner Meta hammered the tech sector, and Japan's yen sank through 155 per dollar for the first time since 1990.

Tepid U.S. GDP data pushed Wall Street...

Equities fall amid earnings gloom, as persistent inflation lifts Treasury yields

(April 26): Boeing's credit rating faced pressure for a second time this week as S&P brought the company one step closer to a junk rating on Thursday after a January mid-air blowout of a cabin panel led the planemaker to slow production of its best-selling jet.

The rating agency cha...

S&P slashes Boeing credit outlook as rating hovers above junk status

WASHINGTON (April 26): The Federal Communications Commission said on Thursday it is ordering the U.S. units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the United States.

The FCC said it was requiring the Chinese carrie...

Agency bars Chinese telecom carriers from offering US broadband services

NEW YORK (April 26): Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected U.S. economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms META.O.

Data on...

Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

(April 26): Alphabet announced its first-ever dividend on Thursday and a $70 billion stock buybuck, cheering investors who sent the stock surging nearly 16% after the bell.

The Google parent is returning capital while spending billions of dollars on data centers to catch up with rivals ...

Google parent Alphabet announces first-ever dividend, shares soar

BRIGHTON, England (April 26): Phil Foden struck twice as Manchester City stepped up their bid for a fourth Premier League crown in a row with a ruthless 4-0 victory at Brighton & Hove Albion on Thursday.

A day after Liverpool's title challenge suffered a huge blow with a 2-0 defeat ...

Man City humble Brighton to keep pressure on Arsenal

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.

AirAsia X to buy Capital A's aviation business for RM6.8b via share and debt deal 

Chin Teck Plantations Bhd’s net profit surged sevenfold for the financial quarter ended Feb 29, 2024 (2QFY2024) thanks to higher palm oil production as well as lower operating and administrative expenses.

Chin Teck’s 2Q net profit up sevenfold

MKH Oil Palm (East Kalimantan) Bhd (MKHOP), the plantation arm of property developer MKH Bhd, reported RM16.02 million net profit on the back of RM86.05 million revenue for the second quarter ended March 31, 2024 (2QFY2024), ahead of its listing on Bursa Malaysia’s Main Market.

MKH Oil Palm posts RM16 mil net profit in 2Q, q-o-q up 44% ahead of Main Market listing

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

AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

Practice Note 17 (PN17) company Khee San Bhd will increase the allotment underwritten in its proposed rights issue after Ng Meng Kee ceased to be a substantial shareholder and requested to discharge his undertaking.&nbsp;

Khee San revises underwriting of rights issue after substantial shareholder ceases to be, withdraws undertaking

Pantech Group Holdings Bhd is considering to list two wholly-owned subsidiaries — Pantech Stainless &amp; Alloy Industries Sdn Bhd and Pantech Steel Industries Sdn Bhd — on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV).

Plans for this are still at the preliminary stage and extensive preparatory work needs to be carried out, Pantech said in a bourse filing on Thursday.

Pantech mulls listing two subsidiaries on Main Market via SPV

Construction company Inta Bina Group Bhd has secured a contract worth RM224.8 million to develop a 38-storey business serviced apartment in Subang Jaya.

Inta Bina bags RM224.8m job to build business serviced apartments in Subang Jaya

Pavilion Real Estate Investment Trust (PavREIT) reported that its first quarter net property income (NPI) jumped 33.2% year-on-year, thanks largely to contribution from its newly acquired mall, Pavilion Bukit Jalil. The increase was also attributed to higher occupancy rates and higher revenue rent from its other retail malls.

PavREIT’s 1Q NPI jumps 33%, pays 2.48 sen distribution per unit

US economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.

US economic growth slows more than expected in first quarter

KUALA LUMPUR (April 25): The Companies Commission of Malaysia (SSM) expects more companies to utilise the new corporate rehabilitation framework introduced by the Companies (Amendment) Act 2024, which came into force on April 1.

SSM expects more companies to utilise new corporate rehabilitation framework

The Malaysian Anti-Corruption Commission (MACC) has served a senior police officer arrested on suspicion of protecting an illegal syndicate in the country's capital a notice to declare his assets before April 28.

Senior police officer arrested for alleged corruption given until April 28 to declare assets to MACC

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EVENING 5: Five things you need to know today

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told Reuters on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.

US growth may get revised up, inflation will ebb

PARIS (April 25): French President Emmanuel&nbsp;Macron&nbsp;appealed on Thursday for stronger, more integrated European defences and said the continent must not become a vassal of the United States, as he&nbsp;outlined&nbsp;his vision for a more assertive European Union (EU)&nbsp;on the global stage.

'Europe could die,' Macron warns, as he calls for stronger defences

Prime Minister Datuk Seri Anwar Ibrahim on Thursday gave assurance that the revised Public Service Remuneration System (SSPA), which will be announced soon, will be the best ever introduced in the country.

Revised public service remuneration system will be the best ever introduced — Anwar

As part of its continuing quest to add long-haul destinations to its routes over the long term, AirAsia X is exploring possible destinations in Eastern European countries such as Poland and Hungary, and the airline is not ruling out revisiting London and exercising its landing rights to Orlando in the United States.

AirAsia X mulls flying to Poland, Hungary, London and Orlando

The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives hit a two-month low on Thursday, due to weaker soybean oil futures on the Chicago Board of Trade (CBOT), said a dealer.

Mumbai-based Sunvin Group commodity research head Anilkumar Bagani said the market sentiment was also weighed down by the Dalian Commodity Exchange’s refined, bleached, and deodorised palm olein during Asian trading hours.

CPO futures hit two-month low at the close, in line with weaker rival oils

Infoline Tec Group Bhd has proposed to transfer its listing from the ACE Market to the Main Market of Bursa Malaysia as it has met the profit requirements for the transfer.

Infoline Tec seeks transfer from ACE Market to Main Market

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

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