KUALA LUMPUR (Dec 1): Public Bank Bhd saw 30 million shares representing 0.15% of its shares traded off-market on Thursday (Dec 1).

Public Bank sees RM132.6 mil worth of shares traded off market

The government spent RM13.13 billion in subsidy expenditure in 2021, an increase of RM8.48 billion or 181.9% compared with RM4.66 billion in 2020, according to an auditor general's report released on Thursday (Oct 6).

AG's Report: Govt's subsidy expenditure jumped 182% to RM13 bil in 2021

A total of nine performance audits worth RM10.75 billion were carried out last year, according to Auditor General Datuk Seri Nik Azman Nik Abdul Majid.

Auditor General's Report: Nine performance audits worth RM10.75b carried out on eight ministries

APM Automotive Holdings Bhd said the Employees Provident Fund (EPF) has ceased to be a substantial shareholder of  the company.

The pension fund’s stake in APM dropped below 5% after it sold 279,500 APM shares on Dec 8, the company said in a filing with Bursa Malaysia on Tuesday (Dec 13).

EPF ceases to be substantial shareholder of APM Automotive

Mercedes-Benz Malaysia Sdn Bhd has introduced the new EQE 350+ by Mercedes EQ, the luxury carmaker's second model series to be based on the electric architecture, which is developed specifically for electric vehicles.

The EQE 350+ is available at the recommended retail selling price of RM419,888 on the road, with 10% sales tax and excluding insurance.

Mercedes-Benz Malaysia introduces all-new EQE 350+

AmInvestment Bank Bhd expects glove makers to slip into or widen losses, especially for the fourth quarter ending Dec 31, 2022 (4Q2022) and 1Q2023, mainly due to further declines in average selling prices (ASPs) in December, following relative price stabilisation over the past three months.

AmInvestment sees glove makers stumbling on further ASP decline

Petronas Carigali Sdn Bhd has inked a heads of agreement with JX Nippon Oil & Gas Exploration Corp to collaborate in developing a joint proposal to monetise the gas potential within the Bujang, Inas, Guling, Sepat and Tujoh fields that are located offshore Kerteh, Terengganu.

Petronas Carigali, JX Nippon to work together on monetising BIGST gas potential offshore Terengganu

RHB Research is projecting a three-year earnings compound annual growth rate for Ancom Nylex Bhd of 26.1% from financial year ended May 31, 2022 (FY22) to FY25 on new income streams and cost savings from additional stakes in businesses, as well as the introduction of new agriculture active ingredients chemicals.

RHB Research projects three-year earnings CAGR of 26.1% for Ancom Nylex

Capital A Bhd's wholly owned AirAsia Aviation Group Ltd's (AAAGL) entry into Cambodia with Sivilai Asia is deemed positive but it could take longer than expected before the venture turns profitable, according to Kenanga Research.

Kenanga Research: AirAsia’s venture into Cambodia deemed positive but turning profitable could take longer than expected

Datasonic Group Bhd has entered into a Memorandum of Agreement with the West African nation of Guinea relating to the printing of secure documents, digitisation, and improvement of land management solutions and services.

Datasonic inks deal with Republic of Guinea on digitisation, land management matters  

Asian stocks looked poised to rise Wednesday, tracking gains on Wall Street as renewed enthusiasm for artificial intelligence lifted equities ahead of earnings from industry giants and the Federal Reserve’s rate decision.

Asian stocks set to gain on resurgent AI optimism

For more than two months, Malaysia has been shrouded in cross-border haze that has grown increasingly severe. While haze is an annual occurrence in Indonesia, Malaysia, Singapore and Timor-Leste, this year’s episode has been described as the worst since 2015.

Choking fumes sweep across Malaysia

A rally in technology companies lifted stocks ahead of this week’s results from industry giants valued at more than US$10 trillion, with traders also bracing for the Federal Reserve rate decision.

Stocks rise in run-up to tech results as oil falls

Pakatan Harapan (PH) component parties must respect the coalition's decision to hand the Bemban state seat to a Bersatu candidate in the Melaka state election, says PH election director Datuk Seri Amirudin Shari.

Melaka polls: PH component parties must respect decision on Bemban seat allocation — Amirudin

The extension of the West Coast Expressway (WCE) from Banting, Selangor, to Masjid Tanah was among the matters discussed by the Cabinet, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

WCE expected to be extended from Banting to Masjid Tanah — Ahmad Zahid

Wall Street's main stock indices advanced on Tuesday as optimism around the artificial intelligence (AI) trade persisted ahead of a raft of key corporate earnings, while easing oil prices also supported risk appetite heading into the Federal Reserve's policy decision this week.

Wall St rises as AI momentum holds heading into key earnings, Fed decision

Discussions between Melaka Barisan Nasional (BN) chairman Datuk Seri Ab Rauf Yusoh and MCA president Datuk Seri Dr Wee Ka Siong is believed to have successfully resolved several deadlocks regarding seat distribution for the Melaka state election (PRN) next month.

Several deadlocks in seat distribution with MCA resolved — AB Rauf

JetBlue Airways Corp reassured Wall Street that it’ll be profitable next year, as the debt-laden carrier seeks to overcome persistent losses and high oil prices to prevent a deeper restructuring.

JetBlue shares soar after it vows to return to profitability

A Brazilian Supreme Court justice ordered federal police to open a probe into possible illegal foreign financing of defeated candidate Flávio Bolsonaro’s presidential campaign, including by a group linked to US Vice President JD Vance.

Brazil probes foreign financing, including group linked to Vance

Israelis surged to the polls on Tuesday at a pace that shattered records, to pass wartime judgment on Prime Minister Benjamin Netanyahu in what voters described as the most consequential election in the nation's history.

Israelis shatter turnout records to pass wartime judgment on Netanyahu

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

Zetrix AI, AirAsia, CIMB, SD Guthrie, Nestle Malaysia, LPI Capital, Dufu Technology, Eco-Shop, Tenaga Nasional, Matrix Concepts, AME Elite, Ni Hsin, HB Global, Infomina, Bintai Kinden, Paragon Globe

A group of Kuala Lumpur residents has gone to the court to challenge a 66-year-old law that allows the government to take over private land, including for projects by private companies.

Kuala Lumpur residents' group files court challenge against 1960 law on compulsory land acquisition

Paragon Globe Bhd (KL:PGLOBE) on Tuesday received shareholders’ approval for its proposed sale of 65 acres of land in Iskandar Puteri, Johor, to a unit of Singapore-based DayOne Data Centers Ltd for RM398.11 million.

Paragon Globe gets shareholders’ nod for RM398m Johor land sale to data centre firm DayOne

YNH Property Bhd (KL:YNHPROP) said the Inland Revenue Board (IRB) will withdraw a winding-up petition against its wholly-owned subsidiary after it reached a settlement on outstanding tax liabilities.

YNH Property says IRB to withdraw winding-up petition following settlement on tax liabilities

Intel Corp&nbsp;agreed to buy Israeli start-up Classiq Technologies Ltd&nbsp;as part of a push to capitalise on quantum computing, a still-nascent field that is seeking commercial applications.

Intel said to buy quantum start-up Classiq for about US$2.3 bil

A Brazilian Supreme Court justice ordered federal police to open a probe into possible illegal foreign financing of defeated candidate Flávio Bolsonaro’s presidential campaign, including by a group linked to US Vice President JD Vance.

Sandisk Corp, Micron Technology Inc, Seagate Technology Holdings plc and Western Digital Corp were among the stock market’s biggest winners in the first six months of the year as demand from the artificial intelligence (AI) build out seemed insatiable.

Memory stocks lost their shine despite strong earnings 

The government is determined to take stern action against the masterminds and syndicates behind foreign migrant smuggling, as well as any parties protecting or complicit with them, following the death of a Malaysian Maritime Enforcement Agency (MMEA) personnel while on duty.

Govt to take firm action against syndicates behind foreign migrant smuggling, says Anwar

Technology solutions provider Infomina Bhd (KL:INFOM) has secured a RM32.11 million contract from the Home Ministry to provide maintenance and technical support services for the National Registration Department's (JPN) core application systems.

Infomina secures RM32.1 mil Home Ministry contract for JPN systems maintenance

Wall Street's main stock indices advanced on Tuesday as optimism around the artificial intelligence (AI) trade persisted ahead of a raft of key corporate earnings, while easing oil prices also supported risk appetite heading into the Federal Reserve's policy decision this week.

Anthropic PBC set itself a challenge by opening its books to prospective initial public offering (IPO) investors right after a punishing week for the artificial intelligence (AI) trade. When Wall Street took a close look, it generally liked what it saw.

Anthropic IPO filing calms nerves with signs of healthy growth

Force majeure has long protected companies from acts of God. Now some borrowers want protection from acts of AI.

Acts of God meet acts of AI in private equity’s new debt play

Israelis surged to the polls on Tuesday at a pace that shattered records, to pass wartime judgment on Prime Minister Benjamin Netanyahu in what voters described as the most consequential election in the nation's history.

Ni Hsin Group Bhd (KL:NIHSIN) has proposed a bonus issue of up to 312.65 million warrants, which could potentially raise RM112.55 million to fund its working capital needs and expansion of its electric vehicle (EV) business.

Ni Hsin plans bonus warrants to raise up to RM113 mil for working capital, EV expansion

Immigration checks using the National Integrated Immigration System (MyNIISe), which enables travellers to clear immigration using quick response (QR) codes, are expected to begin in January next year, said Home Minister Datuk Seri Saifuddin Nasution Ismail.

MyNIISe immigration checks set to begin in January — minister

Japanese electric motor maker Nidec said on Tuesday it had decided to sue founder Shigenobu Nagamori and eight other former executives for damages over suspected accounting irregularities that have put its stock market listing at risk.

Nidec to sue former executives over accounting issues

The High Court here has set Dec 7 to hear Perikatan Nasional’s (PN) judicial review challenging the Registrar of Societies’ (ROS) decision to deregister the party and suspend its activities.

Court to hear PN’s challenge against ROS deregistration and suspension on Dec 7

Boeing chief executive officer&nbsp;Kelly Ortberg said on Tuesday that the company will not reach its 737 production rate target of 47 jets a month until next year, a serious setback to the company's ongoing recovery.

Boeing will not reach 737 production target until early 2027, says CEO

General Motors (GM) said on Tuesday it would transfer the listing of its common stock to Nasdaq from the New York Stock Exchange, joining a growing number of companies looking to align themselves with the tech-heavy exchange.

GM moves to Nasdaq as first legacy automaker on the exchange

Pakatan Harapan (PH) component parties must respect the coalition's decision to hand the Bemban state seat to a Bersatu candidate in the Melaka state election, says PH election director Datuk Seri Amirudin Shari.

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