<div class=newsTextDataWrapInner>This article first appeared in The Edge Financial Daily on June 19, 2019 - June 25, 2019</div><div class=newsTextDataWrapInner>KUALA LUMPUR: Bank Negara Malaysia (BNM) has appointed Aznan Abdul Aziz as assistant governor which will be effective July 1.</div>

<div class=newsTextDataWrapInner>In a statement yesterday, BNM said Aznan, who will be responsible for payments oversight, will also be tasked to supervise the financial conglomerates, banking, insurance and takaful as well as risk specialist and technology departments.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>“Prior to his appointment, Aznan served in several departments in the bank including financial conglomerates supervision, governor’s office, Islamic banking and takaful, financial surveillance, financial sector development, financial intelligence and bank regulation departments.</div>

<div class=newsTextDataWrapInner>“He holds a degree in economics and accounting from the University of Bristol, UK,” BNM said.</div>

KUALA LUMPUR: Bank Negara Malaysia (BNM) has appointed Aznan Abdul Aziz as assistant governor which will be effective July 1.

In a statement yesterday, BNM said Aznan, who will be responsible for payments oversight, will also be tasked to supervise the financial conglomerates, banking, ...

BNM appoints Aznan as assistant governor

The US Department of Commerce has recently asked Nvidia to look into how the company's products ended up in China over the past year, The Information reported on Thursday, citing a person close to the department.

US asks Nvidia to investigate how its chips ended up in China — report 

As the Russian president, Vladimir Putin, held his carefully stage-managed annual phone-in and press conference to answer questions from journalists and ordinary Russians, EU leaders were hosting Ukraine’s president Volodymyr Zelensky in Brussels at their final meeting of the year. Unsurprisingly, the war in Ukraine loomed large at both events.

Ukraine war: As 2025 approaches, Kyiv is left with few good options and allies in a Trump 2.0 world

The US Congress has two days as of Thursday to avert a partial government shutdown after President-elect Donald Trump rejected a bipartisan deal on federal spending and demanded lawmakers address the nation's debt ceiling before he takes office next month.

US Congress has two days to avert shutdown after Trump rejects spending bill

The script for the biblical epic 'Mary', which tells the story of the Nativity from the perspective of Mary of Nazareth, languished in Hollywood for some 15 years before entering production.

As the independent film approached completion this September, it attracted interest from three major Hollywood studios and streaming giant Netflix, which emerged as the global distributor and released the movie this month.

Hollywood embraces God and the 'cowboy curious' to broaden audience

The third meeting of the third session of the 15th Parliamen adjourned on Thursday after sitting for 12 days since Dec 2, with 26 bills passed.

Dewan Negara adjourns after passing 26 bills in 12 days

Wall Street's main indexes regained some ground on Thursday, a day after the Federal Reserve's projections of fewer-than-expected interest rate cuts and higher inflation next year wrong-footed some investors and pummelled US stocks.

Wall Street bounces back after Fed's hawkish cut triggers sell-off

Main-Market listed Lotus Circular Bhd (KL:LOTUSCIR) is acquiring two waste recycling companies — Earthwise Resources Sdn Bhd and Expert Resources Management Sdn Bhd — controlled by its director and major shareholder Datuk Wong Sak Kuan for RM100 million, to expand its footprint in the business.

Lotus Circular buys two waste recycling firms controlled by its major shareholder for RM100 mil

Europe’s top fashion houses will reluctantly conclude that high profit margins are a luxury they can no longer afford in 2025. The likes of LVMH, Kering and Chanel aggressively hiked prices on handbags, shoes and jackets during the pandemic. As demand from Chinese consumers rapidly cools, CEOs will be forced to rethink.

Luxury firms will warily cut prices to boost sales

An Australian computer scientist who falsely claimed he invented bitcoin was on Thursday found in contempt of court for bringing a £911 billion (US$1.2 trillion or RM5.4 trillion) lawsuit against Twitter founder Jack Dorsey's payments company Block  in Britain.

Self-proclaimed bitcoin inventor in contempt of court over US$1.2 tril UK lawsuit

Chai Woon Yun, daughter of Aset Kayamas founder Tan Sri Datuk Chai Kin Kong, has become the largest shareholder of Kanger International Bhd through a private placement.

Daughter of Aset Kayamas founder is now Kanger’s largest shareholder

Companies that spent billions on poorly timed acquisitions in recent years are now offloading those assets at knockdown prices. 
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Alibaba Group Holding Ltd announced on Tuesday it’s going to sell Chinese department-store chain Intime to a local apparel group for US$1 billion (RM4.47 billion).

Companies that spent billions on M&A are now selling for peanuts

UEM Group Bhd, the wholly-owned infrastructure arm of Khazanah Nasional Bhd, has been silent for a long time.

Some in the diversified group say the last time it gave an interview to the media was when Datuk Mohd Izzaddin Idris was at the helm. He left in October 2018, after holding the ...

Cover Story: Sleeping Giant UEM Group Stirs

Property developer Mah Sing Group Bhd (KL:MAHSING) has acquired 5.99 acres of land in Taman Pelangi, Johor, from S P Setia Bhd (KL:SPSETIA) for RM156.8 million to develop a premium serviced apartment project.

Mah Sing acquires Johor land from S P Setia for RM157 mil

KUALA LUMPUR (Dec 19): Datin Seri Rosmah Mansor has pronounced the court’s decision to acquit her of all 17 charges in her money-laundering and tax evasion case as “justice”.

Rosmah celebrates acquittal: ‘This is what I call justice’

Indonesia will increase its export levy for crude palm oil (CPO) to 10% from the current 7.5% to finance higher biodiesel subsidies, its chief economic minister said on Thursday.

Indonesia to hike crude palm oil export levy to 10%

High Court judge Wan Muhammad Amin Wan Yahya has taken over a civil suit against former prime minister Datuk Seri Najib Razak's wife, Datin Seri Rosmah Mansor, and a Singaporean woman, Shabnam Naraindas Daswani, involving the purchase of luxury goods using funds allegedly diverted from 1Malaysia Development Bhd (1MDB).

Third judge takes over 1MDB's US$346 mil suit against Rosmah and Singaporean woman

KUALA LUMPUR (Dec 19): The Malaysian Anti-Corruption Commission (MACC) has announced that no charges will be filed against any parties involved in the 1BestariNet project tender under the Ministry of Education (MOE).

No charges filed in 1BestariNet tender investigation, says MACC

The government’s proposal to introduce a Diagnostic-Related Group (DRG) payment system to regulate private healthcare costs may face significant challenges and feasibility issues, according to Hong Leong Investment Bank (HLIB).

Govt's proposed DRG payment system may face challenges — HLIB

Mynews Holdings Bhd (KL:MYNEWS) reported a significant jump in net profit to RM3.76 million for the fourth quarter ended Oct 31, 2024 (4QFY2024), a nearly fourfold increase compared to RM947,000 in the same period last year. This marks the fifth consecutive profitable quarter for the convenience store operator.

Mynews plans more new stores after 4Q profit jumps nearly fourfold as sales climb

KUALA LUMPUR (Dec 19): Aluminium products maker Winstar Capital Bhd (KL:WINSTAR) is expecting sales to grow in 2025, with the removal of China’s export tax rebates for aluminium products, and the upcoming implementation of the fifth iteration of Malaysia’s large scale solar programme (LSS5).

Winstar eyes sales growth amid China tax shift, LSS5 opportunities

THE general perception is that PLUS Malaysia Bhd is sitting on a lucrative toll concession. But Datuk Amran Hafiz Affifudin, managing director of UEM Group Bhd, tells The Edge that such a perception is different from reality.

“Sometimes people on the outside think that it [PLUS highway ...

Cover Story: PLUS’ concession not as lucrative as perceived, says UEM Group MD

KUALA LUMPUR (Dec 19): Catcha Digital Bhd (KL:CATCHA) has announced its acquisition of a 70% stake in Tastefully Malaysia Sdn Bhd for RM7.6 million cash, to strengthen its position in the integrated digital and offline advertising space.

In a bourse filing on Thursday, Catcha Digital sa...

Catcha Digital acquires 70% stake in Tastefully to tap into consumer food expo sector

THERE has been speculation for the past few weeks that healthcare support services and property and facility solutions provider UEM Edgenta Bhd (KL:EDGENTA) will be taken private by its 69.14% parent company UEM Group Bhd, the infrastructure arm of Khazanah Nasional Bhd.

“I cannot comme...

Cover Story: Depressed valuation sparks speculation about UEM Edgenta

Malaysian Resources Corp Bhd (KL:MRCB) has confirmed it has withdrawn from a Berjaya-led consortium which is bidding for the multi-billion-ringgit Kuala Lumpur-Singapore high-speed rail (HSR) project.

In a filing, MRCB said the group issued a notice of termination to consortium partner Berjaya Rail Sdn Bhd to terminate the teaming agreement for the submission of a non-binding conceptual proposal to MyHSR Corporation Sdn Bhd in relation to the project.

MRCB confirms withdrawal from Berjaya-led HSR consortium

UWC Bhd's (KL:UWC) net profit rose 49.2% to RM6.5 million in the first quarter ended Oct 31, 2024 (1QFY2025) from RM4.35 million a year ago, lifted by increasing orders from the semiconductor industry.&nbsp;

Contributions from its acquired subsidiaries, MCE Technologies Sdn Bhd (MCET) and MCT (Thailand) Co Ltd, also add to the earnings.

UWC's net profit jumps 49% as revenue nearly doubles on increased semiconductor orders 

The US Federal Reserve’s (US Fed) intent to adopt a slower pace of interest rate easing in 2025 is expected to prompt slight downward pressure on the domestic market, analysts said.

US Fed’s hawkish pivot ‘slightly negative’ for Malaysian market, analysts say

There is noticeable shift towards local fast-moving consumer goods amid prolonged boycott of international brands following the Israel-Gaza conflict, according to Hong Leong Investment Bank (HLIB).

HLIB: Consumer trends shift to local fast-moving consumer goods as boycotts persist

KUALA LUMPUR (Dec 19): Telekom Malaysia Bhd (KL:TM) has signed&nbsp;a memorandum of understanding&nbsp;(MOU) with Petroliam Nasional Bhd’s (Petronas) digital arm Petronas Digital Sdn Bhd and Gentari Sdn Bhd to accelerate&nbsp;digital transformation and sustainable innovation for industries and the nation.&nbsp;

TM, Petronas and Gentari ink MOU to drive digital transformation for industries

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Pentamaster Corp Bhd (KL:PENTA) on Thursday proposed to privatise its 63.9%-owned Hong Kong-listed Pentamaster International Ltd (PIL) with a partner in an exercise that would raise its stake to 71%.