<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Malaysia Weekly on June 7, 2021 - June 13, 2021</span></p></div><div><img alt="" class="gallery-items" data-high-res-src="https://assets.theedgemarkets.com/infogphic-tem1373_theedgemarkets.png" src="" /></div>
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According to a survey by US-based fintech media and data company Benzinga, more than 80% of the 100-plus cryptocurrency traders and investors polled believe Ethereum will outperform Bitcoin through the end of 2021 in terms of returns on investment.

Bitcoin vs Ethereum

The number of flood victims in eight affected states has continued to rise, while the situation in Perak remained unchanged. As of 8 pm Friday, the total number of evacuees taking shelter in temporary relief centres (PPS) stood at 106,505.

Flood evacuees total over 100,000 as Kelantan records highest number of victims

An investment vehicle linked to Berjaya Group’s Tan Sri Vincent Tan Chee Yioun has emerged as a substantial shareholder in Berjaya Food Bhd (KL:BJFOOD) with a 8.09% stake.

Vincent Tan-linked vehicle emerges as substantial shareholder in Berjaya Food with 8.09% stake

Wall Street's main indexes opened slightly higher in a shortened Black Friday trading session, on track for monthly gains as the holiday shopping season kickoff brought retail stocks into focus.

Wall Street inches up; Black Friday sales, retailers in focus

KUALA LUMPUR (Nov 29):  Here is a brief recap of some corporate announcements that made news on Friday.

Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest bank by assets, posted a 12% increase in net profit to RM1.91 billion for the third quarter ended Sept 30, ...

Public Bank, RHB Bank, Padini, QL Resources, LBS Bina, IGB, AAX, Panasonic, Velesto Energy, Sapura Energy, Phamarniaga and Hextar Industries

The finance chief of India's Adani Group on Friday rejected US allegations that executives, including Chairman Gautam Adani, were part of a US$265 million (RM1.2 billion) bribery scheme, while the Indian government said it has not received any US request on the case.

Adani Group CFO rejects bribery allegations, India says no US request yet on case

Sarawak needs a high-quality workforce to support its mission to become Malaysia’s hub for the aerospace industry.

Abang Jo: Sarawak needs quality workforce to support aerospace industry

EG Industries Bhd (KL:EG) on Friday posted an over threefold jump in its July-September quarter net profit from the same period a year ago, driven by higher sales and better margins — particularly from 5G wireless access and photonic-related products.

EG Industries upbeat on prospects as it kicks off FY2025 with record profit 

Syarikat Air Darul Aman Sdn Bhd (SADA) has temporarily ceased operations at seven of its water treatment plants (WTPs) after the water levels at their intake points reached a critical stage.

Seven water treatment plants in Kedah forced to cease operations

Quality Care India Ltd, the Indian hospital chain backed by Blackstone Inc, agreed to combine with Aster DM Healthcare Ltd in an all-stock deal that will create one of India’s largest hospital chains.

Blackstone deepens India push with US$5 bil hospital deal

European and American carmakers are set to lose up to 17% of their combined annual core profits if the US imposes import tariffs on Europe, Mexico and Canada, S&P Global said in a report on Friday, warning of potential credit downgrades.

Trump's tariffs could cost carmakers up to 17% of combined core profits, S&P says

<p>Hextar Industries Bhd (KL:HEXIND) said on Friday it has signed an agreement to bring in Chinese coffee house chain Luckin Coffee to Malaysian shores.</p>


Hextar Industries gets exclusive rights to bring in Luckin Coffee chain

<p>The sentence against Muar Member of Parliament Syed Saddiq Syed Abdul Rahman in his criminal case was not excessive, partly because as a lawmaker and an "idol" for youngsters, he should be held to a "higher standard", said the judge who convicted the young MP for misappropriation of party funds.</p>


High Court: Sentence in Syed Saddiq's criminal case, which includes two strokes of the cane, not excessive

<p>Sapura Energy Bhd (KL:SAPNRG) announced on Friday the impending departure of its chairman Datuk Mohammad Azlan Abdullah and chief executive officer Datuk Mohd Anuar Taib.</p>


Sapura Energy announces departure of chairman and CEO

<p>Low-cost, medium-haul airline AirAsia X Bhd (KL:AAX) reported a surge in net profit for the third quarter, as currency gains and higher revenue offset a jump in operating expenses.</p>

<p>Net profit for the quarter ended Sept 30, 2024 (3QFY2024) was RM121.64 million, a 22-time jump when compared to the same quarter last year, AirAsia X said in an exchange filing. The company booked RM125.29 million from both realised and unrealised net foreign exchange gains.</p>


AirAsia X reports 22-fold jump in net profit on currency gains

<p>Casual wear giant&nbsp;Uniqlo&nbsp;is facing a storm of online criticism in China, after a <em>BBC</em> report quoted the chief executive officer of its owner as saying the company does not source cotton from the far western region of Xinjiang.</p>


Uniqlo criticised in China after BBC report of CEO's Xinjiang comments

<p>Velesto Energy Bhd (KL:VELESTO) on Friday said its subsidiary Velesto Drilling Sdn Bhd (VED) has received a notice of suspension for the jack-up rig Naga 8 contract from Carigali Hess Operating Company Sdn Bhd.</p>


Carigali Hess suspends Velesto's Naga 8 jack-up rig contract as drilling work completed early

<p>TSMC's founder Morris Chang asked Nvidia's Jensen Huang to consider becoming the chief executive of the Taiwanese chip giant more than a decade ago, but was turned down in just 10 minutes, Chang says in a new volume of autobiography.</p>


TSMC founder Morris Chang offered top job to Jensen Huang, memoir shows

<p>(Nov 29):&nbsp;A return to profitability in e-commerce for Sea Ltd&nbsp;has analysts turning even more bullish on its stock, after a rally that has added US$43 billion (RM190.9 billion) to its market value so far this year.</p>


Sea’s profit draws bullish analyst calls after US$43b rally

<p>Velesto Energy Bhd's (KL:VELESTO) shares fell to their lowest in close to two years on Friday, despite reporting a more than 30-fold jump in its third quarter (3Q) net profit, as it flagged a challenging outlook amid slower demand after announcing that a client had suspended the contract of its Naga 8 jack-up rig.</p>


Velesto's share price skids despite 3Q profit jump as it flags slowing demand for jack-up rigs

<p>IGB Bhd (KL:IGBB) has declared a dividend payout of 12 sen per share for FY2024 — comprising an interim dividend of seven sen and a special dividend of five sen — as its latest third quarter net profit jumped 27% from the corresponding quarter last year, driven by higher contributions from its retail, commercial and hotel segments.</p>


IGB pays 12 sen dividend for FY2024, including a five-sen special, as 3Q profit jumps 27%

<p>KUALA LUMPUR (Nov 29): OSK Holdings Bhd’s (KL:OSK) net profit for the third quarter increased 11.55%, boosted by a higher share of results of associates and a joint venture, particularly from RHB Bank Bhd (KL:RHBBANK).</p>


Higher share of RHB earnings boosts OSK’s 3Q net profit

<p>Muar Member of Parliament&nbsp;Syed Saddiq Syed Abdul Rahman said on Friday that he will immediately file an appeal against the conviction and sentence handed down to him by the High Court&nbsp;in his criminal breach of trust (CBT) and money-laundering case, after finally receiving the full written judgement.</p>


Syed Saddiq to immediately file graft appeal after finally receiving written judgement

<p>Steel Hawk Bhd (KL:HAWK), an oil and gas services provider listed on the ACE Market on Sept 5, has secured five packages to provide construction and modification works for Petroliam Nasional Bhd (Petronas) and 27 of the national oil company’s downstream operating plant units.</p>


ACE Market-listed Steel Hawk bags five construction and modification jobs from Petronas

<p>The number of flood victims in eight affected states has continued to rise, while the situation in Perak remained unchanged. As of 8 pm Friday, the total number of evacuees taking shelter in temporary relief centres (PPS) stood at 106,505.</p>


<p>KUALA LUMPUR (Nov 29): &nbsp;Here is a brief recap of some corporate announcements that made news on Friday.</p>

<p><strong>Public Bank Bhd </strong>(KL:PBBANK), Malaysia’s third-largest bank by assets, posted a 12% increase in net profit to RM1.91 billion for the third quarter ended Sept 30, ...

<p>Lotte Chemical Titan Holding Bhd (KL:LCTITAN) has appointed a new president and chief executive officer as part of changes in board representatives of its South Korean parent company.</p>


Lotte Chemical Titan appoints new CEO, executive director

<p>Malaysia’s gross loan growth accelerated in October, thanks to higher growth in business loans and corporate bonds, the central bank said on Friday.</p>

<p>Credit to the private non-financial sector grew by 5.1% year-on-year in October compared with the 4.8% reported in the previous month, Bank Negara Malaysia (BNM) said in its monthly highlights report for October 2024.</p>


Malaysia's loan growth accelerates in October, BNM data show

<p>KUALA LUMPUR (Nov 29): Mah Sing Group Bhd’s (KL:MAHSING) net profit for the third quarter jumped 20%, as lower costs more than offset declining revenue.</p>


Mah Sing’s 3Q net profit up 20%, on track for RM2.5b sales target

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>New World Development Co replaced its chief executive officer in another dramatic development for the Hong Kong property company mired in leadership woes.</p>
