A witness who had filed a police report against the director and producer of the banned film “Mentega Terbang” in 2023 testified in court on Thursday that the movie had not shaken her faith as a Muslim despite having watched the movie in its entirety.

Witness says 'Mentega Terbang' did not lead her astray despite previously claiming the movie would lead Muslims to do so

Former prime minister Datuk Seri Najib Razak intends to challenge the High Court’s decision on Wednesday, which had rejected his application to stay the 15-year prison sentence for his 1Malaysia Development Bhd (1MDB) conviction. The application to challenge this decision will be filed at the Court of Appeal, his lawyer said.

Najib to challenge rejection of stay bid at Court of Appeal

The High Court here on Wednesday refused to grant former prime minister Datuk Seri Najib Razak a stay of his jail sentence in the 1Malaysia Development Bhd (1MDB) case.

Najib fails to pause 15-year jail term, fine in 1MDB case

KUALA LUMPUR (Oct 13): Perikatan Nasional (PN) will continue to be grounded following a court decision on Tuesday, though the coalition has been allowed to challenge the suspension.

High Court keeps Perikatan Nasional suspended for now

A witness in the criminal trial of Mentega Terbang film director  Khairi Anwar Jailani and producer Tan Meng Kheng testified that the film offended and hurt her feelings as a Muslim.

Witness tells court ‘Mentega Terbang’ film insults Islam

The High Court here on Monday ruled that contempt proceedings brought by the Malaysian Communications and Multimedia Commission against blogger Papagomo should proceed before a hearing to extend court curbs (inter partes injunction) on his social media use.

High Court to hear MCMC’s contempt proceedings against Papagomo before deciding on social media curbs

KUALA LUMPUR (Oct 8): Klang member of Parliament (MP) V Ganabatirau has filed a defamation suit at the High Court here against independent preacher and activist Firdaus Wong over social media postings questioning the lawmaker's loyalty to the country.

Klang MP Ganabatirau sues Firdaus Wong over social media posts questioning his loyalty to Malaysia

The first witness for the Federal Land Development Authority conceded in High Court on Wednesday that competing bidders for the agency's prime land along Jalan Semarak were not owned by Synergy Promenade Sdn Bhd shareholder and director Abdul Rahman Soltan, after initially suggesting otherwise.

Felda fraud suit: Witness admits rival bidders for Jalan Semarak land not owned by Synergy Promenade director

The Federal Land Development Authority (Felda) and its investment arm, Felda Investment Corporation Sdn Bhd (FIC), claim that 21 individual had conspired to defraud them of over RM1 billion in land and exposed them to RM1.7 billion in potential liabilities through the Kuala Lumpur Vertical City (KLVC) project.

Felda claims over RM1 bil fraud in Semarak land suit as hearing begins after nearly seven years

Perikatan Nasional on Monday filed a legal challenge against its suspension and potential deregistration by the Registrar of Societies (RoS), and is seeking an expedited hearing to resolve the matter before the Melaka election.

PN challenging suspension in court, seeks expedited hearing as Melaka polls loom

Chinese chipmaker CXMT Corp reported a surge in preliminary profit and sales during the first nine months of the year after global demand for memory sent prices of the components soaring.

China’s CXMT swings to profit after memory chip prices surge

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

Zetrix AI, Genting, Genting Plantation, IOI Properties, Public Bank, RHB Bank, Cape EMS, Turiya, EGH International, Westsports Holdings & Cosmos Tech 

ExxonMobil Holdings Corp is the latest oil supermajor to signal soaring third-quarter refining profits as wars in the Persian Gulf and Russia crippled fuel-making facilities causing prices to surge.

Exxon signals record refining earnings on soaring diesel prices 

IOI Properties Group Bhd (KL:IOIPG) said its board has yet to deliberate on the potential acquisition of Singapore properties mentioned by its chief executive officer in a media report.

IOI Properties board yet to deliberate on potential Singapore acquisitions

Shipping estimates for Apple Inc’s first folding phone, the iPhone Duo, slipped into December and beyond within minutes of the company opening pre-orders on Friday.

Apple iPhone Duo orders slip into 2027 amid pre-order frenzy

The benchmark S&P 500 was muted on Friday as worries about cracks in the AI trade pressured semiconductor stocks, while gains in banks limited overall declines.

S&P 500 subdued as gains in banks offset AI jitters; Dow at one-month high

Ukrainian President Volodymyr Zelenskiy took aim on Friday at US President Donald Trump's diesel deal with Russia and welcomed the prospect of European allies stepping up their role in talks, calling Moscow's stance a "parody" of peace negotiations.

Zelenskiy blasts Trump's diesel deal and calls Russian peace moves a 'parody'

Parti Amanah Negara (Amanah) president Datuk Seri Mohamad Sabu stated that the party has been allocated eight state legislative assembly (DUN) seats to contest in the Melaka state election (PRN).

Amanah allocated eight seats in Melaka polls — Mohamad Sabu

The US is on track to install record amounts of clean energy this year and next as developers race to claim expiring federal tax credits and as soaring data-centre electricity demand stimulates growth.

US clean energy set to reach new highs as tax-credit cliff looms

US factory production increased in September, but lost considerable momentum in the third quarter amid headwinds from the Middle East conflict, which has snarled supply chains and raised energy prices.

US manufacturing output rises in September

Kuala Lumpur City Hall (DBKL) failed to obtain a stay on the High Court’s April decision ordering it and the wound-up developer, Fame Modulation Sdn Bhd, to pay RM1.3 million in damages to two former civil servants. 
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DBKL fails to halt RM1.3 mil payment order over structural damage to Cheras retired civil servants’ home 

UBB Amanah Bhd has said that there would be delays in its trust income and maturity payments for October, due to "temporary liquidity constraints arising from delayed repayments by certain investee companies".

UBB Amanah defers October trust payouts amid ‘temporary liquidity constraints’

Genting Bhd (KL:GENTING) executive chairman Tan Sri Lim Kok Thay’s private investment vehicle, Kien Huat Realty Sdn Bhd, has acquired additional shares in the group as its stock hovers near its two-decade lows.

Genting chairman buys more shares as stock nears two-decade low

The Sessions Court here was told on Friday that local fashion company&nbsp;FashionValet Sdn Bhd&nbsp;received investment funds totalling nearly RM40 million from Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) eight years ago.

FashionValet received investment of almost RM40 mil from Khazanah, PNB, says witness

The High Court has given more time to Tan Sri Shahrir Samad and Tan Sri Tommy Thomas to iron out settlement terms in the former Federal Land Development Authority (Felda) chairman's malicious-prosecution suit against the former attorney general.

Shahrir Samad, ex-AG Tommy Thomas to update court on Nov 11 of possible settlement in malicious-prosecution suit

China’s campaign to promote the global use of the yuan appears to be accelerating as the authorities seek to build a more comprehensive financial ecosystem for the currency beyond just trade settlement.

China’s plan to make yuan a global currency enters faster phase

Genting Property Sdn Bhd, the property division of Genting Plantations Bhd (KL:GENP), has entered into a strategic partnership with Huawei Technologies (Malaysia) Sdn Bhd to master-plan Johor Tech Smart City (JTSC), including its flagship 430-acre smart campus within the Knowledge AI Campus.

Genting Property partners Huawei to master-plan 430-acre smart campus at Johor Tech Smart City

Malaysia’s six homegrown semiconductor innovations developed under the Semiconductor IC Design Park have an estimated combined sales potential of RM300 million, said Economy Minister Akmal Nasrullah Mohd Nasir. However, he did not specify when the sales target could be achieved.

Six chips developed under Semiconductor IC Design Park have RM300m sales potential, says minister

Ormond Group, the hospitality arm of ECM Libra Group Bhd (KL:ECM), broke ground for the 396-key Ormond Desaru resort in Johor on Friday.&nbsp; 
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Ormond Group breaks ground for Ormond Desaru resort

PETRONAS and Vietnam National Industry–Energy Group (Petrovietnam) have signed a strategic alliance agreement to strengthen their 35-year partnership and advance energy security, sustainability and long-term growth.

PETRONAS, Petrovietnam sign strategic alliance to deepen 35-year energy partnership

Zetrix AI Bhd (KL:ZETRIX) faces potential sukuk payment obligations of RM2.16 billion if it fails to resolve a covenant breach by Oct 22, which could trigger a payment default.

Zetrix on the hook for RM2.16 bil as sukuk holders sound alarm bell  

Two Tenaga Nasional Berhad (TNB) workers were rushed to hospital after a fire broke out at &nbsp;a major electricity substation in Johor Bahru on Friday, causing power outages across large parts of the state capital.

Two TNB workers rushed to hospital after JB power substation fire  

Datuk Vijayasundaram Jeyabalan has emerged as a substantial shareholder in Turiya Bhd (KL:TURIYA) after acquiring 22.872 million shares, representing a 9.091% stake in the company, through a private placement.

Vijayasundaram Jeyabalan emerges as Turiya’s second-largest shareholder with 9.09% stake via placement

The upfront costs incurred by CelcomDigi Bhd (KL:CDB) and Maxis Bhd (KL:MAXIS) for the latest spectrum awards are expected to be offset by capital expenditure savings and lower network costs, according to Hong Leong Investment Bank (HLIB).

CelcomDigi, Maxis spectrum costs to be offset by capex and network savings — HLIB

Public Bank Bhd (KL:PBBANK) could see its consolidated net assets and earnings per share reduced by four sen, following an expected HK$1.964 billion — or about RM1.1 billion — goodwill impairment at its Hong Kong-listed subsidiary, Public Financial Holdings Ltd (PFHL).

Public Bank’s HK unit to take HK$1.9b non-cash impairment, trimming parent’s net assets and earnings by four sen per share

Toyota Motor Corp plans to use its own gigacasting machinery to make electric vehicles at a&nbsp;US$2 billion (RM8.2 billion) Lexus factory in China, part of its push to reverse a sales decline in the world’s biggest car market. 
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Toyota to debut its own version of Tesla EV-making tech in China

Meta on Thursday launched a new open-weight artificial intelligence (AI) model which it claims rivals, and in some cases outperforms, similar products from leading Chinese developers.

Meta unveils new 'open' AI model to rival Chinese competition

Bank Negara Malaysia (BNM) has maintained additional capital buffer requirements for the country’s three biggest banks: Malayan Banking Bhd (KL:MAYBANK), CIMB Group Holdings Bhd (KL:CIMB) and Public Bank Bhd (KL:PPBANK).

Bank Negara keeps Maybank, CIMB and Public Bank on systemically important banks list, with capital buffers unchanged

The new minimum wage rule for larger firms will be assessed at the group level and not individual subsidiaries, Human Resources Minister Datuk Seri R Ramanan said.

Ramanan: Minimum wage threshold applies at group level, covers foreign workers too

Partners Group Holding AG has cut or reassigned dozens of positions in its private equity unit, as the firm seeks to boost performance under investor scrutiny.&nbsp;

Timothy Achariam

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Timothy Achariam

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