The Securities Commission Malaysia (SC) said it is looking into a complaint filed by South Malaysia Industries Bhd (SMI), in which the group accused that some parties acting in concert violated the Capital Markets and Services Act 2007 (CMSA) in accumulating shares without making a mandatory general offer (MGO).

SC to look into SMI's complaint alleging breach of mandatory general offer requirements by parties acting in concert

KUALA LUMPUR (Sept 6): Boustead Heavy Industries Corp Bhd (BHIC) will not be penalised for mismanagement and irregularities related to the troubled littoral combat ship (LCS) project.

No penalty for BHIC over LCS mismanagement

KUALA LUMPUR (Sept 7): Boustead Naval Shipyard Sdn Bhd (BNS) has assured that there will be no major delays in the construction of littoral combat ships (LCS) despite its termination of two main contractors of the project.

No further delay in LCS project despite termination of contractors — BNS

KUALA LUMPUR (Sept 7): Malaysian semiconductors players’ latest quarterly results were largely mixed with growth of certain companies moderating, weighed by prolonged supply chain disruptions and the easing of consumer electronics demand from the pandemic high.

Malaysia’s semiconductor outlook turns cloudy after mixed 2Q earnings

KUALA LUMPUR (Sept 2): With the upsized dividend of RM50 billion from Petroliam Nasional Bhd (Petronas) this year, economists are optimistic that it will be sufficient to help fund the government’s subsidy bill, which is expected to eventually hit a whopping RM80 billion — the highest in history.

Additional RM25 bil dividend from Petronas can meet hefty subsidy bill, say economists

The number of reported cybercrime incidents in Malaysia has grown over time, especially with banks and their customers as targeted victims.

Cybercrime incidents on the rise in Malaysia, says Sophos

Electronic prescription telemedicine provider DOC2US aims to raise between US$8 million to US$10 million which will be utilised for research and development (R&D) in its e-pharmacy model, data analytics and human resources.

DOC2US seeks to raise US$8 million to US$10 million for expansion

Lim Hwee Bin, the wife of former Goldman Sachs banker Roger Ng Chong Hwa who is indicted in the United States (US), is scheduled to leave Malaysia and testify in her husband's defence next week.

Roger Ng's wife to travel to US next week to testify

In an exclusive interview, SEMI president and CEO Ajit Manocha (pictured) said the longer-term growth outlook is exceptional and exciting, with projections pointing to the industry more than doubling revenue to approximately US$1.3 trillion (RM5.43 trillion) by 2030.

Global semiconductor equipment materials industry revenue to hit US$1.3tril by 2030, says SEMI

KUALA LUMPUR (July 9): As the nation labours to move forward in fighting the coronavirus pandemic, Sunway Education Group announces exciting news for students with the opening of its Sunway International School’s new campus in January 2023.

Sunway Education Group’s new RM300 mil school campus to open in 2023

Sarawak and Sabah hold the ignominy of having the highest sales of illicit cigarettes in Malaysia which costs an estimated RM5 billion in tax revenue to the government annually.  

In an email response to theedgemarkets.com, Retail and Trade Brands Advocacy Malaysia (RTBA Malaysia) said that in Sarawak, illicit cigarettes made up 86.1% of market share versus legitimate cigarettes, while it is 81% in Sabah.

Sarawak, Sabah top spots for illicit cigarettes

Utusan Malaysia, the oldest Malay-language newspaper in the country, will carry on despite the operational shutdown of its former holding company Utusan Melayu (M) Bhd today, says the latter's executive chairman Datuk Abd Aziz Sheikh Fadzir.

"Utusan will live on. We are liquidating the holding company but the ownership of the printing licences [has] been acquired by Aurora Mulia and they will relaunch publications in the near future," Abdul Aziz told theedgemarkets.com.

'Utusan will live on,' says executive chairman

KAJ Development Sdn Bhd will resume two projects under the RM43 billion Melaka Gateway plan after the Transport Ministry allowed the company to appeal against the government's earlier decision to scrap the development.

Melaka Gateway developer to resume projects, withdraws suit

Telekom Malaysia Bhd (TM) said today the sale of non-core property assets, such as land and buildings, is consistent with the group's strategy to create long-term value shareholders by strengthening the balance sheet and focusing the company's portfolio on its core business that will drive growth.

TM: Non-core property asset sale to create long-term value for shareholders

The Bank of Japan (BOJ) must tread cautiously in raising interest rates, as some indicators of inflation expectations remain short of its 2% target, the International Monetary Fund's Japan mission chief Nada Choueiri said on Friday.

IMF urges Bank of Japan to tread cautiously in raising interest rates

Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.

Prime Minister Benjamin Netanyahu's war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday's missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.

Israel's Iran attack carefully calibrated after internal splits, US pressure

The Nasdaq and the S&P 500 dipped on Friday, with Netflix among the biggest drags on a dour quarterly forecast, while all three indexes stared at weekly losses amid diminishing hopes that the Federal Reserve would cut interest rates anytime soon.

Nasdaq lags peers as Netflix, chip stocks drag; AmEx lifts Dow

Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.

Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.

Anwar arrives in Kota Kinabalu for one-day visit

Parties in the Unity Government have their methods to ensure a win in the Kuala Kubu Baharu by-election next month, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Ahmad Zahid, who is also Barisan Nasional (BN) chairman, said this was discussed at the Unity Government secretariat meeting on Wednesday.

Unity Govt parties have ways to ensure victory in Kuala Kubu Baharu polls — Ahmad Zahid

All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.

Travellers to and from Singapore carrying over S$20,000 must submit online declaration from May 13

KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

Sapura Energy, PIE Industrial, LSH Capital, YX, Westports, Yinson, Sime Darby Property, MISC, Meta Bright, EG Industries, Hextar, Uzma, Nova MSC and Iconic Worldwide

YX Precious Metals Bhd, a 70%-owned subsidiary of Tomei Consolidated 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.

In a bourse filing, the gold jewellery wholesaler and manufacturer said it has also satisfied the Securities Commission Malaysia (SC) and Main Market listing requirements on financial position, public shareholding spread and Bumiputera equity.

YX Precious Metals proposes to transfer listing from ACE Market to Main Market

(April 19): Oyo Hotels is in talks to raise up to US$450 million via dollar bonds, a person familiar with the matter said, as the once-high-flying Indian startup seeks to replace an existing high-cost loan amid delays in its stock-market debut.

Softbank-backed Oyo eyes US$450 mil bond sale for refinancing

CIMB Thai Bank PCL’s net profit for the first quarter ended March 31, 2024 (1QFY2024) dropped 24.6% year-on-year to 626.1 million baht from 830.1 million baht, as it reported lower operating income and higher expenses.  

The group recorded an 8.4% drop in operating income and an 11.8% increase in operating expenses. The effects of these were partially offset by a 36.9% decline in expected credit loss, according to CIMB Thai president and chief executive officer Paul Wong Chee Kin in a statement. CIMB Group Holdings Bhd has a 94.83% interest in CIMB Thai.

CIMB Thai's 1Q earnings drop 24.6% as operating income falls while opex climbs

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

Financial services provider MIDF has reported a recent cyber security incident to relevant authorities and is collaborating closely with them on addressing the matter.

In a brief statement issued on Friday, MIDF affirmed that it takes the cyber security incident seriously and reiterated its commitment to safeguarding the privacy and security of customers' information.

MIDF confirms cyber security incident

Automotive electronic parts manufacturer MCE Holdings Bhd has commenced the construction for its MCE Auto Hub, the company’s new manufacturing facility in Serendah, Selangor, with an initial investment of RM50 million for the first phase of the development.&nbsp;

MCE Holdings commences construction for RM50 mil manufacturing facility in Serendah 

KUALA LUMPUR (April 19): Meta Bright Group Bhd is forming a joint venture company (JVco) with a Bumiputera firm to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright forms JVco with Bumiputera firm for RE projects

DUBAI/JERUSALEM (April 19): Explosions echoed over an Iranian city on Friday in what sources described as an&nbsp;Israeli attack, but Tehran played down the incident and indicated that it had no plans for retaliation — a response that appeared gauged towards averting region-wide war.

Tehran signals no retaliation against Israel after drones attack Iran

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 19): Construction company Lim Seong Hai Capital Bhd (LSH Capital) said it has obtained approval from its shareholders to transfer the group’s listing from the LEAP Market to the ACE Market of Bursa Malaysia Securities Bhd.

Lim Seong Hai Capital gets shareholder nod for transfer of listing to ACE Market

Bursa Malaysia ended the week mixed on Friday with buying in selected heavyweights and commodity-related stocks amid the negative sentiment on regional markets, said an analyst.&nbsp;

Bursa ends mixed amid weak regional sentiment

A group of investors led by a Dubai-based real estate developer is in talks to build a mixed-use tower in Thailand that may vie for the mantle of the world’s tallest building.

Thailand in talks with group of investors from Middle East, China to build world’s tallest tower

SINGAPORE (April 19): CGS-CIMB Securities has officially rebranded as CGS International Securities (CGS International), as the integrated financial services provider launched its new identity in Singapore on Thursday (April 18).&nbsp;

CGS-CIMB Securities rebrands as CGS International, aims to double revenue to S$700 mil by 2030

KUALA LUMPUR (April 19): UEM Sunrise Bhd has launched The Beat 2.0, an extension of The Beat retail hub at its Kiara Bay development in Kepong, during a groundbreaking ceremony held at the Kiara Bay sales gallery on Friday. The Beat 2.0 measures 2.6-acres and will comprise a net lease area (NLA) of 73,566 square feet (sq ft), according to a press statement on Friday.

UEM Sunrise launches The Beat 2.0 at Kiara Bay, welcomes Harvey Norman as anchor tenant

Shares of IT services firm Infomina Bhd fell on Friday to its lowest in nearly one year as its latest results disappointed investors even as analysts largely remained bullish.

Infomina shares near one-year low as earnings miss expectations

KUALA LUMPUR (April 19): Fajarbaru Builder Group Bhd said it has secured a RM13.33 million contract to upgrade fire engineering systems at the Kuala Lumpur International Airport’s Terminal 1 satellite building.

Fajarbaru clinches RM13 mil contract from MAHB

Fibre optic cables manufacturer Hextar Capital Bhd, formerly known as Opcom Holdings Bhd, said it plans to diversify into the construction and project management business.

The proposed diversification is expected to boost the group’s net profit by about 25%, aligning with its long-term strategy to pursue more engineering, procurement, construction and commissioning (EPCC) projects beyond telecommunications network projects, the group said in an exchange filing.

Hextar Capital plans to diversify into construction business

MISC Bhd, via its petroleum arm AET, has entered into time charter party contracts with PETCO Trading Labuan Company Ltd (PTLCL) for the world’s first two ammonia dual-fuel Aframaxes (tankers with a deadweight of between 80,000 and 120,000 tonnes), as it seeks to reduce overall emissions from its operations.

Both MISC and PTLCL are units of&nbsp; national oil company Petronas.

MISC enters time charter party contracts with Petronas unit for world's first ammonia dual-fuel Aframax tankers

KUALA LUMPUR (April 19): Silver Ridge Holdings Bhd said its wholly owned unit is being sued by a subcontractor over alleged outstanding contract payments.

Silver Ridge’s unit slapped with suit over alleged unpaid contract sums

KUALA LUMPUR (April 19): Prime Minister&nbsp;Datuk Seri Anwar Ibrahim has denied Opposition claims that its Members of Parliament (MPs) will only be given allocations if they pledged support for his leadership.&nbsp;

Anwar: Claims of Opposition MPs needing to support me for allocations baseless

KUALA LUMPUR (April 19): Software company Nova MSC Bhd said on Friday that it has signed term sheets&nbsp;for investments totalling about RM41.4 million&nbsp;into two of its subsidiaries, by Singapore-based family office Jostar Investment VCC.

Nova MSC signs term sheets for RM41.4m investment into its Singaporean units

KUALA LUMPUR (April 19): M&amp;A Equity Holdings Bhd announced that an individual by the name of Siti Nur Aishah Ishak has become a substantial shareholder of the stockbroking firm, after acquiring a 0.13% stake in the company.

Siti Nur Aishah emerges as substantial shareholder of M&A Equity

KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Shares of Sapura Energy Bhd have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

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