<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 28): AMMB Holdings Bhd (AmBank), which announced a RM2.83 billion settlement with the Malaysian government earlier this year over its role in the 1Malaysia Development Bhd (1MDB) fiasco, said it will be booking a one-off impairment charge of RM1.79 billion in its conventional and investment banking businesses for the fourth quarter ended March 31, 2021.</p></div>

<div class=newsTextDataWrapInner><p>The banking group will also be recording a RM148 million impairment on the carrying investment in an associate (REIT impairment) in its 4QFY21.</p></div>

<div class=newsTextDataWrapInner><p>These non-cash items, it said in a bourse filing today, will have no impact to its regulatory capital ratios and does not impact future earnings.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>But these impairments, combined with its 1MDB settlement with the Ministry of Finance (MoF), will result in the banking group posting a net loss for its FY21, it said.</p></div>

<div class=newsTextDataWrapInner><p>"Credit ratings of the AMMB Group are expected to remain unchanged as a result of these impairment charges," it added.</p></div>

<div class=newsTextDataWrapInner><p>In February, AmBank announced it had agreed to pay RM2.83 billion to the government as settlement on all outstanding claims and actions in relation to the banking group's involvement in the 1MDB graft scandal.</p></div>

<div class=newsTextDataWrapInner><p>Shares in AmBank closed 1.34% or four sen higher at RM3.02 today, valuing it at RM10.01 billion. It saw 3.64 million shares traded.</p></div>


KUALA LUMPUR (April 28): AMMB Holdings Bhd (AmBank), which announced a RM2.83 billion settlement with the Malaysian government earlier this year over its role in the 1Malaysia Development Bhd (1MDB) fiasco, said it will be booking a one-off impairment charge of RM1.79 billion in its conventional and investment banking businesses for the fourth quarter ended March 31, 2021.

The banking group will also be recording a RM148 million impairment on the carrying investment in an associate (REIT impairment) in its 4QFY21.

AmBank to book RM1.79b impairment in banking and investment biz after 1MDB settlement

WASHINGTON (Dec 17): President-elect Donald Trump said on Monday he had a "very good talk" with Israel's prime minister, Benjamin Netanyahu, about the war in Gaza and reiterated his threat that "all hell is going to break out" if Hamas does not release its hostages by Jan 20, the day Trump t...

Trump again warns Hamas to release hostages soon, or 'It's not going to be pleasant'

TORONTO/TOKYO (Dec 16): US President-elect Donald Trump said on Monday that he was picking George Glass, a former investment banker and diplomat notable for his criticisms of China, to serve as his ambassador to Japan.

Trump picks China critic Glass as Japan envoy

(Dec 17): U.S. President-elect Donald Trump said on Monday he was picking George Glass, a former investment banker and diplomat notable for his criticisms of China, to serve as his ambassador to Japan.

"In my First Term, George was the U.S. Ambassador to Portugal. As a former President ...

Trump picks China critic Glass as Japan envoy

Malaysia's central bank has reappointed three members to its Shariah Advisory Council (SAC), the highest authority on Islamic law for the purposes of Islamic financial business in Malaysia.

BNM reappoints three Shariah Advisory Council members

KUALA LUMPUR (Dec 17): Fitch Ratings’ latest affirmation on Malaysia’s sovereign credit rating underscores its economic progress, as envisioned under the Madani Economy framework, said Prime Minister Datuk Seri Anwar Ibrahim.

PM: Fitch Rating’s affirmation a recognition of Malaysia’s economic progress

(Dec 17): U.S. President-elect Donald Trump is scheduled to meet with Netflix co-CEO Ted Sarandos on Tuesday at Trump's Mar-a-Lago resort, a source familiar with the matter told Reuters on Monday.

Sarandos has traditionally backed Democratic Party candidates, making donations t...

Trump to meet Netflix co-CEO Ted Sarandos, source says

(Dec 16): Ukrainian Prime Minister Denys Shmyhal said on Monday that Ukraine was willing to devise a deal enabling gas to transit through its territory to western Europe, but ruled out any extension of an existing deal with Russia.

Ukraine ready to work out new deal for gas transit to Europe, says PM

WASHINGTON (Dec 16): The US Senate on Monday voted overwhelmingly to advance an US$895 billion (RM3.98 trillion) bill setting policy for the Pentagon towards passage as soon as Tuesday, which would send it to the White House for President Joe Biden to sign into law.

US Senate advances massive defence bill, despite transgender provision

A key measure of CEO confidence in China signalled pessimism for the first time since the pandemic even after the nation unleashed a raft of stimulus measures.

Confidence of foreign CEOs in China slides despite stimulus — survey

KUALA LUMPUR (Dec 17): The appointment of former Thai prime minister Thaksin Shinawatra as an informal advisor to assist with Malaysia’s Asean chairmanship next year, is viewed as a bridge to strengthen cooperation between the region and global powers.

Thaksin’s appointment as informal advisor seen as bridge for Asean cooperation — minister

<p>KUALA LUMPUR (Dec 17): The Ministry of Investment, Trade and Industry (Miti) has extended the deferral of the 80:20 employment ratio requirement for the manufacturing sector.&nbsp;</p>


Miti extends deferral of 80:20 employment ratio rule for manufacturing sector

<p>Vanzo Holdings Bhd (KL:VANZO) shares staged a strong debut on the ACE Market as it raised close to RM21 million from its initial public offering (IPO).</p>

<p>Shares of the air fragrance maker opened at 17.5 sen, a 2.5 sen or 16.7% premium to its IPO price of 15 sen per share.</p>


Vanzo shares up 17% on strong ACE Market debut

<p>(Dec&nbsp;17) :&nbsp;Weeks before Donald Trump returns to the White House, China’s factories are expanding production abroad and growing their customer base outside the US, as they gird for new levies from the self-proclaimed “tariff man”.</p>


China’s factories seek to Trump-proof business by going global

<p>Former Sabah chief minister Tun Musa Aman has been appointed the 11th Yang Dipertua Negeri of Sabah. The appointment takes effect on Jan 1, 2025.</p>


Musa Aman appointed new Sabah governor

<p>(Dec&nbsp;17) : Canadian Prime Minister Justin Trudeau’s government ran a deeper deficit than projected and broke a fiscal objective outlined by his finance minister, who resigned the day she was set to unveil new spending and revenue estimates.</p>


Canada runs deeper deficits as finance minister resigns

<p>(Dec&nbsp;17) :&nbsp;US stocks broadly ended Monday’s session higher, as traders geared up for interest-rate decisions by major central banks across the globe due later this week.&nbsp;</p>


US stocks close higher with Fed rate-cut expected

<p>Air fragrance maker Vanzo Holdings Bhd (KL:VANZO), which made its debut on the ACE Market on Tuesday, said there is still ample room for growth in the domestic market.</p>


Newly debuted air fragrance maker Vanzo says will focus on home market as there's ample room for growth

<p>Asian stocks edged higher and the dollar held firm on Tuesday as traders braced for a slate of central banks meetings this week that is likely to see the US Federal Reserve deliver a rate cut and the Bank of Japan (BOJ) stand pat for now.</p>


Asian shares drift, dollar firms ahead of central bank meetings

<p>KUALA LUMPUR (Dec 17): Fitch Ratings has affirmed Malaysia’s long-term foreign-currency issuer default rating (IDR) at BBB+ with a stable outlook, according to a statement on Monday.</p>


Fitch affirms Malaysia’s long-term issuer rating with stable outlook

<p>WILMINGTON, Delaware/SAN FRANCISCO (Dec 16): The chief executive of&nbsp;Arm on Monday downplayed the company’s ambitions to become a chip supplier in its own right at a trial against Qualcomm, a major customer that pays&nbsp;Arm&nbsp;an estimated hundreds of millions of dollars per year.</p>


Arm’s CEO downplays ambitions to make its own chip in Qualcomm case

<p>Analysts remain bullish on Gamuda Bhd (KL:GAMUDA) after the group's latest Australian job win, increasing its order book to approximately RM31.8 billion.</p>

<p>Gamuda's subsidiary DT Infrastructure Pty Ltd recently secured a RM1.8 billion contract from Lightsource bp Renewable Energy Investments Ltd for the Goulburn River Solar Farm in New South Wales, Australia.</p>


Analysts remain optimistic on Gamuda amid robust order book growth  

<p>WASHINGTON (Dec 16): TikTok made a last-ditch effort on Monday to continue operating in the United States, asking the&nbsp;Supreme Court&nbsp;to temporarily block a law intended to force ByteDance, its China-based parent company, to divest the short-video app by Jan&nbsp;19, or face a ban.</p>


TikTok turns to US Supreme Court in last-ditch bid to avert ban

<p>KUALA LUMPUR (Dec 17): The appointment of former Thai prime minister&nbsp;Thaksin Shinawatra as an informal advisor to assist with Malaysia’s Asean chairmanship next year, is viewed&nbsp;as a bridge to strengthen cooperation&nbsp;between the region and global powers.</p>


<p>SAO PAULO/BRASILIA (Dec 16): Market anxiety dragged Brazil's real currency to a historic low on Monday, as significant central bank interventions again failed to counter market concerns over government spending.</p>


Brazilian currency hits record low amid ongoing fiscal woes

<p>IPOH (Dec 17): Perak Transit Bhd (KL:PTRANS) has rebranded its MyBAS stage bus service&nbsp;to BAS.MY.</p>

<p>In a statement, the company said the rebranding is not merely a change of name and colour, but also reflects its commitment to enhancing service efficiency, comfort&nbsp;and user-frien...

Perak Transit rebrands MyBAS to BAS.MY for enhanced service

<p>China announced on Tuesday a relaxation of its visa-free transit policy, extending the permitted stay for eligible foreign travellers to 240 hours, or 10 days, from the original 72-144 hours, as authorities aim to lure more foreign visitors.</p>


China extends visa-free transit stays to 10 days

<p>SINGAPORE (Dec 17): Singapore’s non-oil domestic exports&nbsp;rose 3.4%&nbsp;in November 2024, from the same month a year earlier, data on Tuesday showed, as&nbsp;shipments of electronics increased, while non-electronics declined.</p>


Singapore’s November exports rise 3.4% y-o-y, stronger than forecast

<p>BENGALURU (Dec 17): Australia’s competition watchdog said on Tuesday that it has taken Exxon Mobil’s local brand affiliate to court, claiming it misled customers about fuel sold at six of its branded petrol stations in Queensland.</p>


Australia takes Exxon’s local petrol brand to court over false fuel representations

<p>A key measure of CEO confidence in China signalled pessimism for the first time since the pandemic even after the nation unleashed a raft of stimulus measures.</p>


<p>（吉隆坡17日讯）Vanzo Holdings Bhd（KL:VANZO）通过首次公开募股（IPO）筹集接近2100万令吉后，今早在创业板亮丽登场。</p>
