WHAT initially appeared to be an innocuous land deal has placed state development agency Penang Development Corp (PDC) and local conglomerate Sunway Bhd under intense scrutiny.

On Sept 27, Sunway announced that its 70%-owned unit Umech Land Sdn Bhd had inked a joint development agreemen...

Special Report: Batu Kawan deal raises questions that must be answered

Following the Umech land sale controversy, the Penang Development Corporation (PDC) board, chaired by Chief Minister Chow Kon Yeow, has instructed the management to prepare a paper to review the sale of land for projects that would be implemented on PDC land in the Batu Kawan Industrial Park 2 (BKIP2).

PDC management instructed to conduct study on land sale, development

Even though the RM646.02 million land deal between Penang Development Corp (PDC) and Umech Land Sdn Bhd — a 70%-owned subsidiary of Sunway Bhd — has been cancelled, the state needs to explain how the controversial agreement came to be signed, the Penang Chinese Chamber of Commerce (PCCC) insisted on Wednesday.

Questions remain even though Umech Land deal scrapped — PCCC

The Penang government should indefinitely suspend the controversial RM646 million land sale in Batu Kawan Industrial Park 2 (BKIP2) to Sunway Bhd’s subsidiary Umech Land Sdn Bhd pending investigations, or risk it becoming “very, very serious”, according to the state's former deputy chief minister (DCM) II Prof Dr P Ramasamy.

Suspend BKIP2 land sale to Sunway-Umech indefinitely — P Ramasamy

The Pakatan Harapan-Barisan Nasional (PH-BN) alliance won the Penang state election on Saturday (Aug 12) with a two-thirds majority, after winning 29 of the 40 seats in the state legislative assembly.

This victory, however, is not as resounding as that in the 2018 general election when PH — then contesting on its own — won 37 seats.

PH-BN retains two-thirds majority in Penang despite losing 11 seats to PN

Pakatan Harapan candidate Phee Sze Syn for Sungai Puyu hopes to fill the shoes of her father Phee Boon Poh, who has held the seat for five terms since 1999.

In Sungai Puyu, PH candidate follows in father's footsteps

As the sun sets over Kampung Sungai Batu, a coastal village in the southern part of Penang island, fisherman Rizuan Yusoff, 52, is resting at the Sungai Batu Fishermen’s Association, which is housed in a modest shed that looks out to sea.

Penang: PH-BN face tough time attracting rural Malay voters

Datuk Seri Sundarajoo Somu, who is making his election debut in the upcoming Aug 12 state polls, is so passionate and excited by the chance to stand as a candidate that the former deputy president and deputy CEO of Eco World Development Group Bhd said he would not be able to sleep — could not die peacefully even — if he had passed on the chance.

Former EcoWorld top exec hopes to be 'hero' in Perai seat

DOUBTS as to whether Chow Kon Yeow will return to lead Penang, even if he succeeds in defending his Padang Kota state seat on Aug 12, were put to rest with Prime Minister and Pakatan Harapan chair Datuk Seri Anwar Ibrahim saying that the former will remain as chief minister if PH retains the stat...

Run-Up To 2023 State Polls: Chow aims to complete Penang2030 in second and final term as CM

Run-up to 2023 state polls: Socioeconomic development — how the states stack up; seats and personalities to watch

Pakatan Harapan (PH) candidate for the Duyong state seat, Poo Long Suan, will embark on a 10-kilometre walk this Sunday under the “Langkah Abang Long” mission to assess pedestrian walkways and other infrastructure in the area.

Melaka polls: 'Abang Long' to walk 10km to assess Duyong's infrastructure

SoftBank Group Corp founder Masayoshi Son and other tycoons across Asia saw billions erased from their fortunes as a global tech sell-off rippled through their companies on Friday.

AI elite lose US$18 bil as chip stock rout spreads to Asia

Japan’s Nikkei 225 Stock Average slumped on Friday, putting the tech-heavy gauge into a technical bear market as investors unwind artificial intelligence (AI)-related trades.

Japan’s Nikkei enters bear market as AI sell-off deepens

SINGAPORE (Nov 6): Copper dropped on Friday and was set for its biggest weekly drop in London since March, as a rout in technology stocks battered markets.

Copper falls, set for worst week since March on AI rout

Malaysia’s push to become a regional data centre hub is putting pressure on its energy infrastructure, as new power generation and grid capacity take much longer to build than the facilities they are meant to support, according to experts.

Energy capacity struggles to keep pace with Malaysia’s data centre ambitions

KUALA LUMPUR (Nov 6): Klanggroup Development Sdn Bhd has completed and handed over vacant possession for its RM112 million K Commercial Camellia @ Bukit Beruntung, according to a press statement issued on Friday.

Klanggroup hands over RM112m K Commercial Camellia project in Bukit Beruntung

About 600,000 of Nvidia's advanced artificial intelligence (AI) chips are stored in Hong Kong awaiting shipment to mainland China, two people familiar with the matter said, as Beijing withholds approval for large-scale imports despite demand from tech firms.

Nvidia chips said to pile up in Hong Kong as China withholds import approval

Malaysia and Singapore will increase the quota of licensed cross-border taxis from 300 to 500 per country from Nov 16, 2026, while allowing two additional ride-hailing operators to provide services under the enhanced Cross-Border Taxi Scheme.

Malaysia, Singapore to raise taxi quota to 500 each, add two e-hailing operators

(Nov 6): Airbus reported on Friday a 6.2% year-on-year increase in aircraft deliveries between January and October, bringing the year-to-date tally to 621.

Airbus delivers 621 aircraft in January-October, a 6% increase

The public have been warned about scammers impersonating Bank Negara Malaysia (BNM) through fake websites and malicious applications to steal personal and banking information.

BNM says scammers using fake websites, malicious apps to impersonate it

Imprisoned former prime minister Datuk Seri Najib Razak has paid the RM50 million fine, paving the way to him serving the remainder of his prison term in the confinement of his home.

Najib settles RM50m fine, paving way for house arrest in SRC case

SINGAPORE (Nov 6):&nbsp;A steep rout in technology stocks on Friday rippled through markets on fears that the Democrats' victory in the US midterm elections would increase regulatory scrutiny of AI and slow the data centre build-out, sending investors to the safety of bonds.

Stocks tumble as AI panic sweeps markets, bonds draw haven demand

Imprisoned former prime minister Datuk Seri Najib Razak's legal team has confirmed that the RM50 million fine has been paid and the court has subsequently issued an order for house arrest.

Court has issued Najib's order for house arrest

Public Bank Bhd (KL:PBBANK) saw its net profit drop 3.8% year-on-year in the third quarter ended Sept 30, 2026 (3QFY2026) on higher loans or financing impairment allowances.

Public Bank 3Q net profit slips 3.8% on higher loan loss charges

Malaysian shares are broadly lower as a massive overnight sell-off on Wall Street rippled over to Asian markets on Friday. The ringgit weakened.

Malaysia shares broadly lower as Wall Street rout spills to Asia

Datin Seri Rosmah Mansor said on Friday that she has no knowledge of the payment reportedly made to settle the RM50 million&nbsp;fine on her imprisoned husband Datuk Seri Najib Razak.

Rosmah says she and family have no knowledge of Najib's reported fine payment

KUALA LUMPUR (Nov 6): Technology stocks remained under selling pressure on Friday, as investors weighed the implications of the Democrats' strong showing in the US midterm elections for the artificial intelligence (AI) trade.

Tech stocks tumble as AI trade concerns deepen

SINGAPORE (Nov 6): Singapore's Oversea-Chinese Banking Corp (OCBC) on Friday raised its 2026 outlook after posting a 3% annual rise in third-quarter net profit that beat estimates, even as weakness in its insurance arm weighed on its bottom line.

Singapore bank OCBC raises 2026 guidance after 3Q profit beat

NEW YORK/BENGALURU (Nov 5): Tech-led Nasdaq notched its deepest one-day drop since ‘Liberation Day’ in April 2025, wiping out trillions in market value on fears of more AI scrutiny, particularly on data center construction, after Democrats won big in US midterm elections.

Investors wipe US$2.5 tril off Nasdaq as blue tsunami prompts AI fears

SYDNEY/WELLINGTON (Nov 6): The Reserve Bank of New Zealand (RBNZ) said on Friday that it hit the local unit of Westpac with a charge alleging it breached disclosure rules for the country's Depositor Compensation Scheme.

New Zealand central bank hits Westpac with charge over disclosure breach

Prime Minister Datuk Seri Anwar Ibrahim and US Secretary of State Marco Rubio spoke on boosting economic ties in a telephone call on Thursday.

US Department of State: Rubio spoke to Anwar on boosting economic ties

TA Securities sees 12.5% upside for IOI Properties Group Bhd’s (KL:IOIPG) real estate investment trust (REIT) arm amid its attractive valuation relative to large peers.

TA Securities sees 12.5% upside for IOI Properties’ REIT arm, sets fair value at RM1.08

Authorities should investigate the source of the money raised to pay former prime minister Datuk Seri Najib Razak’s fine, said DAP’s Tony Pua.

Investigate source of money raised to pay Najib’s fine, says Tony Pua

(Nov 6):&nbsp;Malaysia’s status as a net energy exporter is bolstering the appeal of its sovereign debt, analysts say, shielding the market from regional inflation pressures even as global oil prices fluctuate.

Malaysian bonds lure buyers as oil squeezes peers, analysts say

The High Court in Miri, Sarawak&nbsp;on Oct 26&nbsp;granted an interim injunction explicitly barring 89 parcel purchasers of the Stirling Suites from voting at The Stirling’s joint management body (JMB) annual general meeting (AGM) on Oct 27.

High Court halts voting rights of 89 purchasers at The Stirling’s joint management body AGM

(Nov 5):&nbsp;Shares of Elon Musk's companies ‌SpaceX&nbsp;and Tesla&nbsp;slumped on Thursday, extending losses from the previous session, as investors worried that Democratic wins in the US midterm elections could slow data center build-outs.

SpaceX, which has leaned into the ​AI data ...

SpaceX, Tesla extend losses as midterm results cloud data center, merger outlook

Oil pushed higher on Friday after rebounding on Thursday from a sharp sell-off triggered by a Democratic sweep of US midterm elections, as traders weighed the outlook for an end to war in the Middle East.

Oil extends rebound on uncertainty over Iran war peace progress

BENGALURU (Nov 5): AI data centre firm IREN on Thursday delayed some infrastructure deliveries for Microsoft&nbsp; and laid out another US$15 billion in spending, even as a rout in AI stocks puts the sector's massive buildout under pressure.

AI data centre firm IREN delays Microsoft AI deliveries, plans US$15 bil spending push

Semiconductor support services firm Frontken Corporation Bhd (KL:FRONTKN) posted record earnings in the third quarter ended Sept 30, 2026 (3QFY2026), driven by stronger performance across its core businesses and effective cost controls.

Frontken 3Q earnings rise 25% on stronger core businesses, cost efficiencies

The ringgit could possibly strengthen towards the 4.00 threshold against the greenback by year-end, CIMB Treasury and Markets Research opines, as it foresees electronics exports widen Malaysia’s trade surplus and exporters convert more of their overseas earnings into ringgit.&nbsp; 
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Sangeetha Amarthalingam

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Sangeetha Amarthalingam

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