<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 13): Boustead Holdings Bhd is teaming up with US firm Accubits Technologies FZ LLE to develop capabilities for real estate asset tokenization and sustainable green energy tokenization.</p></div>

<div class=newsTextDataWrapInner><p>Accubits is an enterprise solutions development company specializing in artificial intelligence and blockchain technologies based in Virginia, with offices in India and UAE.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing, Boustead said the two sides inked a Memorandum of Understanding on Thursday to “develop the partnership co-operation between Boustead and Accubits on the basis of equality and mutual benefit”.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The MoU, which has a duration of one year, is not expected to have any material effect on its earnings for the financial year ending Dec 31, 2022, but will contribute positively to its future earnings, said Boustead.</p></div>

<div class=newsTextDataWrapInner><p>Boustead’s share price closed one sen or 1.8% higher at 56.5 sen, giving the group a market capitalisation of RM1.15 billion.</p></div>


Boustead Holdings Bhd is teaming up with US firm Accubits Technologies FZ LLE to develop capabilities for real estate asset tokenization and sustainable green energy tokenization.

Accubits is an enterprise solutions development company specializing in artificial intelligence and blockchain technologies based in Virginia, with offices in India and UAE.

Boustead partners US firm to develop tokenization capabilities

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

Gamuda, MUI Properties, Chin Teck Plantations, Gadang, Apex Equity, Samaiden, Yinson, Well Chip, Sunway, EA Technique

US stock markets will close Jan 9, in observance of a national day of mourning for former President Jimmy Carter.

The New York Stock Exchange, Nasdaq Inc’s US equities exchanges and Cboe Global Markets Inc will shut, the companies said. CME Group Inc, operator of US-based equity and interest-rates markets, had not yet commented on its plans.

US stock market to close Jan 9 on Carter’s day of mourning

Ukraine and Russia carried out a new exchange of prisoners of war on Monday, with Kyiv bringing home 189 former captives, President Volodymyr Zelenskiy said on Monday.

Zelenskiy thanked the United Arab Emirates and other partners for facilitating the swap.

Ukraine says it brings home 189 POWs in swap with Russia

Wall Street's main stock indexes opened sharply lower on Monday and hit their lowest in over a week, as sparse trading volumes and the specter of elevated treasury yields cast a cloud over the traditionally strong year-end rally for equities.

Wall Street hits one-week low in thin trading, elevated yields add pressure

Sunway Bhd (KL:SUNWAY) has appointed its independent director Datuk Mohd Anuar Taib to an executive role as deputy president effective Jan 2, 2025.

Anuar, who will step down as chief executive officer of Sapura Energy Bhd (KL:SAPNRG) on Tuesday (Dec 31), joined the board of Sunway in July 2023 as an independent non-executive director.

Sunway appoints outgoing Sapura Energy CEO Anuar Taib as deputy president

A federal appeals court on Monday upheld a US$5 million (RM22.3 million) verdict that E Jean Carroll won against Donald Trump when a jury found the US president-elect liable for sexually abusing and later defaming the former magazine columnist.

Trump loses appeal of E Jean Carroll US$5m defamation verdict

EVENING 5: 2024: A data driven year

Fitch Ratings is expecting crude palm oil prices to retreat from the current level of over US$1,100 to US$800 (RM3,576) per tonne in 2025.

Fitch expects CPO prices to weaken in 2025 amid improved yield, higher soybean output

Petroliam Nasional Bhd (Petronas), in response to an online news portal's report that it might be trimming its workforce due to its gas distribution agreement with Petroleum Sarawak Bhd, said it is conducting a comprehensive review of its own productivity.

Petronas says reviewing productivity in response to report of potential downsizing

The flood situation in Kelantan and Terengganu is improving as the number of evacuees continue to drop, while in Johor, one new relief centre has been opened as of 8pm.

Flood situation improves in Terengganu and Kelantan; evacuees on the rise in Johor

<p>Gamuda Bhd is acquiring 389.7 acres of land in the Springhill Industrial Park, Port Dickson for RM424.4 million from a joint venture (JV) between MUI Properties Bhd (MUIPROP) and Chin Teck Plantations Bhd.</p>


Gamuda buys land from MUI Properties-Chin Teck JV for RM424m cash, for data centre project

<p>The new staffer was supposed to help Toronto-Dominion Bank spot money laundering from an outpost in New York.</p>

<p>She instead used her access to bank data to distribute customer details to a criminal network on Telegram, according to prosecutors in Manhattan.</p>


Bank insiders are leaking data on client accounts as scams surge

<p>Well Chip Group Bhd (KL:WELLCHIP), a Johor-based pawnbroker listed in July this year, announced an acquisition of three pawnbroking companies in Perak for RM63.44 million in cash.</p>

<p>In an exchange filing, the Main Market-listed firm said it is taking over the three companies, namely Pajak Gadai Koong Sing Sdn Bhd, Lian Foh Pawnshop Sdn Bhd and Fook Foh Pawnshop Sdn Bhd. These companies will become Well Chip’s wholly-owned subsidiaries following the proposed acquisition, slated to be completed by the first quarter of 2025. &nbsp;</p>


Well Chip acquires three pawnshops in Perak for RM63 mil

<p>KUALA LUMPUR (Dec 30): Former AEON BiG managing director Sheikh Farouk Sheikh Mohamed has been appointed as the chief executive of the Malaysian Employers Federation (MEF), effective Jan 1, 2025.</p>

<p>In a statement, MEF president Datuk Syed Hussain described Sheikh Farouk as the "ideal choi...

Former AEON BiG MD Sheikh Farouk appointed MEF chief executive

<p>Yinson Production, the offshore business arm of Yinson Holdings Bhd (KL:YINSON), has secured an 18-month extension for the bareboat charter contract of its floating production storage and offloading (FPSO) unit operating in offshore Vietnam.</p>


Yinson unit secures RM161.8m bareboat charter extension for FPSO unit

<p>The Adani Group will exit from Mumbai-listed Adani Wilmar Ltd in a US$2 billion (RM8.94 billion) multi-phased deal by selling its stake in its consumer joint venture (JV), as the conglomerate’s flagship focuses on its core infrastructure businesses.</p>


Adani plans US$2b exit from JV with Singapore’s Wilmar

<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Monday</p>


FBM KLCI up 0.59% to 1,637.68 on Dec 30, 2024

<p>Commercial aviation has suffered its deadliest year since 2018 after the Jeju Air Co disaster in South Korea and last week’s downing of an Azerbaijan Airlines plane.</p>


Two plane crashes lead to deadliest year in skies since 2018

<p>SHAH ALAM (Dec 30): A catering supply company on Monday became the first employer in Malaysia to have its assets seized after failing to settle its Social Security Organisation (Socso) contributions totalling RM19,765.20.</p>

<p>Selangor Perkeso director Ismail Abi Hashim said the action was t...

Catering supply company is first employer to have assets seized for failing to settle Socso contributions

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Monday.</p>


<p>The Penang Water Supply Corporation has activated its dry weather protocols since mid-November to ensure adequate water supply in preparation for high water demand during the festive season in the first quarter of 2025.</p>

<p>Its chief executive officer Datuk K Pathmanathan added that the corporation is urging consumers to use water with care during the first quarter of 2025 and recommended that water conservation practices be used till the expected more consistent rainfall occurs in April or May next year.</p>


Penang Water Supply Corp activates dry weather protocol to ensure adequate water supply

<p>The final process of Sarawak's takeover of MASwings Sdn Bhd (MASwings) is expected to be finalised by the first quarter of 2025, said Sarawak Premier Tan Sri Abang Johari Tun Openg.</p>


Sarawak to complete MASwings takeover by 1Q2025 — Abang Johari 

<p>Pakistan’s largest egg products manufacturer Barkat Frisian Agro Ltd is planning an initial public offering (IPO) next month, a merchant banker said, amid a stock market rally that has made the South Asian nation the best performer in Asia for 2024.</p>


Pakistan-Dutch egg firm eyes IPO to raise output by 71%

<p>Sunway Bhd (KL:SUNWAY) has appointed its independent director Datuk Mohd Anuar Taib to an executive role as deputy president effective Jan 2, 2025.</p>

<p>Anuar, who will step down as chief executive officer of Sapura Energy Bhd (KL:SAPNRG) on Tuesday (Dec 31), joined the board of Sunway in July 2023 as an independent non-executive director.</p>


<p>GEORGE TOWN (Dec 30): Loong Air launched a new direct flight connecting Xi'an, China to Penang at the Penang International Airport on Monday.</p>

<p>Tourism Malaysia deputy chairman Datuk Yeoh Soon Hin said the new Xi’an-Penang route was the result of strong collaboration between the Tourism, ...

Loong Air launches direct flight from Xi’an to Penang

<p>KUALA LUMPUR (Dec 30): Mercury Securities Group Bhd (KL:MERSEC), which posted a RM3.52 million net profit in the fourth financial quarter ended Oct 31, 2024 (4QFY2024), is “cautiously optimistic” about its prospects, as it sees positive trading conditions and corporate activities supporting the g...

Mercury Securities expects ‘positive trading conditions’ to continue in 2025, supporting earnings growth

<p>The Malaysia Retailers Association (MRA) has expressed concerns about the government's decision to increase the base electricity tariff, arguing that it will negatively impact the country's competitiveness and economic recovery.</p>


Retailers urge govt to reconsider electricity tariff hike over impact on country's economic recovery

<p>The crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed lower on Monday, reversing earlier gains as traders booked profit amid the recent price rally, said a dealer.</p>

<p>Palm oil dealer David Ng said weaker seasonal export demand also weighed on demand for CPO.</p>


CPO futures close lower due to profit taking from recent rally

<p>Wall Street's main stock indexes opened sharply lower on Monday and hit their lowest in over a week, as sparse trading volumes and the specter of elevated treasury yields cast a cloud over the traditionally strong year-end rally for equities.</p>


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