<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 11): Bumi Armada Bhd's subsidiary Bumi Armada Offshore Holdings Ltd has formed a wholly-owned subsidiary named Bumi Armada Americas Corp (BAAC).</p></div>

<div class=newsTextDataWrapInner><p>In a filing to Bursa Malaysia today, Bumi Armada said BAAC was formed on Jan 9 in the US as a corporation under the Texas Business Organizations Code, and will be principally involved in offshore oil and gas marine services.</p></div>

<div class=newsTextDataWrapInner><p>"The formation of BAAC is part of [our group's] business strategy to develop closer relationship with some of [our] key clients based in Houston," it said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group added that the formation of BAAC is not expected to have any material impact on its earnings or net assets for the financial year ending Dec 31, 2017.</p></div>

<div class=newsTextDataWrapInner><p>According to a separate filing, the Employees Provident Fund (EPF) had disposed of some 3.47 million or 0.06% shares in Bumi Armada. EPF now holds 334.42 million shares in Bumi Armada.</p></div>

<div class=newsTextDataWrapInner><p>At 4.02pm, Bumi Armada's share price was 0.5 sen or 0.8% lower at 63 sen, valuing it at RM3.7 billion.</p></div>

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KUALA LUMPUR (Jan 11): Bumi Armada Bhd's subsidiary Bumi Armada Offshore Holdings Ltd has formed a wholly-owned subsidiary named Bumi Armada Americas Corp (BAAC).

In a filing to Bursa Malaysia today, Bumi Armada said BAAC was formed on Jan 9 in the US as a corporation under the Texas Bu...

Bumi Armada forms new US-based unit

Malaysia’s economy is poised for steady growth this year, driven by strong domestic demand, robust investment activities and growth in exports and tourism despite potential global uncertainties, according to the Federation of Malaysian Manufacturers (FMM).

Malaysia's economy to remain resilient in 2025 — FMM

Investors in the Johor-Singapore Special Economic Zone (JS-SEZ) are eligible for a suite of incentives, including a special corporate tax rate that takes effect on Jan 1, the Finance Ministry said on Wednesday.

Malaysia announces tax incentives for Johor-Singapore Special Economic Zone

Asian stocks drifted lower on Wednesday, with a robust dollar keeping the yen pinned near six-month lows as traders wagered the Federal Reserve will likely be slow in cutting rates after data showed the US economy and labour market remained stable.

Asian stocks slip, dollar bolstered by US rate outlook

The World Health Organisation (WHO) on Tuesday offered reassurance about HMPV, a respiratory infection that is spreading in China, emphasising that the virus is neither new nor particularly dangerous, reported German news agency dpa.

A WHO spokeswoman said the agency is in contact with the Chinese Centre for Disease Control and Prevention. She said the WHO had been told that various respiratory infections are circulating in China, as is typical in its winter, including 'flu, RSV, Covid-19 and HMPV.

WHO says respiratory virus HMPV in China is 'common', not a threat

Donald Trump is threatening to use “economic force” to make Canada the 51st American state. While his comments may be reckless, they are in part due to Canada’s over-reliance on the US market in terms of trade.

The benefits of international trade are undoubtedly positive. It’s well-established that when countries can produce a product or service more cheaply than others, giving them what’s known as a “comparative advantage,” all other nations engaged will gain from that trade.

Canada, the 51st state? Eliminating interprovincial trade barriers could ward off Donald Trump

Melaka recorded encouraging investments of RM5 billion as of last September, said Chief Minister Datuk Seri Ab Rauf Yusoh.

He said the amount comprised RM0.8 billion in foreign investment and RM4.2 billion from domestic investors.

Melaka records investments worth RM5 bil as of September last year

Swift Energy Technology Bhd (KL:SET) surged 29% in its trading debut on Wednesday, the first listing for 2025, after the industrial services firm’s initial public offering (IPO) grossed RM84.07 million.

Swift Energy surges 29% on ACE Market debut in 2025's first listing

Malaysia and Singapore reaffirmed their commitment to revamp the Joint Ministerial Committee for Iskandar Malaysia (JMCIM) to better support the Johor-Singapore Special Economic Zone (JS-SEZ).

Malaysia, Singapore reaffirm plan to revamp joint ministerial committee after special economic zone agreement

Samsung Electronics released on Wednesday a fourth-quarter operating profit estimate that missed analyst estimates by a large margin, as it lagged behind rival SK Hynix in supplying high-end chips to Nvidia.

Samsung's 4Q profit outlook misses estimates by large margin as chip issues drag

US President-elect Donald Trump refused on Tuesday to rule out using military or economic action to pursue acquisition of the Panama Canal and Greenland, part of a broader expansionist agenda he has promoted since winning the Nov 5 election.

Trump will not rule out force to take Panama Canal, Greenland

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


Alliance Bank, UUE, Nestcon, Infomina, ITMAX, KUB, CI Holdings, MN Holdings, Coastal Contracts, Sentoria

<p>Investors in the Johor-Singapore Special Economic Zone (JS-SEZ) are eligible for a suite of incentives, including a special corporate tax rate that takes effect on Jan 1, the Finance Ministry said on Wednesday.</p>


<p>Swift Energy Technology Bhd (KL:SET) surged 29% in its trading debut on Wednesday, the first listing for 2025, after the industrial services firm’s initial public offering (IPO) grossed RM84.07 million.</p>


<p>US President-elect Donald Trump refused on Tuesday to rule out using military or economic action to pursue acquisition of the Panama Canal and Greenland, part of a broader expansionist agenda he has promoted since winning the Nov 5 election.</p>


<p>Exxon Mobil Corp said earnings took a hit from lower crude prices and narrowing refining margins during the final three months of 2024.&nbsp;</p>


Exxon predicts US$700 mil hit to profit from lower oil prices

<p>Asian stocks drifted lower on Wednesday, with a robust dollar keeping the yen pinned near six-month lows as traders wagered the Federal Reserve will likely be slow in cutting rates after data showed the US economy and labour market remained stable.</p>


<p>President-elect Donald Trump announced an investment of at least US$20 billion (RM89.96 billion) from Hussain Sajwani, the head of Damac Group, to build new data centres in the US.</p>


Trump, Dubai billionaire unveil US$20 bil for data centres

<p>Malaysia and Singapore reaffirmed their commitment to revamp the Joint Ministerial Committee for Iskandar Malaysia (JMCIM) to better support the Johor-Singapore Special Economic Zone (JS-SEZ).</p>


<p>Stocks got hammered as a selloff in the world’s biggest bond market deepened on speculation the Federal Reserve won’t cut interest rates before July amid inflation risks.</p>

<p>Following a recent rally, equities lost traction on Tuesday as a report on US service providers showed a price gauge hitting the highest since early 2023.</p>


US stocks roiled by bond rout amid inflation jitters

<p>A technology industry group on Tuesday urged President Joe Biden's administration to refrain from issuing a last-minute rule that would control global access to artificial intelligence (AI) chips, warning the restrictions would jeopardise US leadership in AI.</p>


Tech group urges US to halt rule that would limit global access to AI chips

<p>Samsung Electronics released on Wednesday a fourth-quarter operating profit estimate that missed analyst estimates by a large margin, as it lagged behind rival SK Hynix in supplying high-end chips to Nvidia.</p>


<p>(Jan 8): The bond market selloff that’s lifted long-maturity Treasury yields to the highest levels in months stands to reward buyers at Tuesday’s auction of 10-year notes with the juiciest yield in 17 years.</p>

<p>While the yield on 10-year notes hit as much as 5% in late 2023, the current yi...

US set to pay most since 2007 for 10-year debt as yields rise

<p>(Jan 7): President Joe Biden's outgoing administration announced on Tuesday a ban on medical debt in American consumers' credit reports, making good on a campaign year pledge less than two weeks before leaving office.</p>

<p>Officials said the new regulation, adopted despite objections from th...

As Biden nears exit, US bans medical debt from credit reports

<p>Wall Street's main indices slipped on Tuesday, weighed down by technology stocks after a batch of upbeat economic data stoked uncertainty among investors about the pace of monetary policy easing that the Federal Reserve could pursue this year.</p>


Wall St slips as upbeat data sparks uncertainty on Fed's easing cycle

<p>US&nbsp;job&nbsp;openings&nbsp;unexpectedly increased in&nbsp;November&nbsp;while&nbsp;hiring&nbsp;softened, suggesting the&nbsp;labour&nbsp;market&nbsp;continued to slow at a pace that probably does not require the Federal Reserve to be in a rush to cut interest rates.</p>

<p>The&nbsp;Job&nbsp;Openings&nbsp;and&nbsp;Labor&nbsp;Turnover Survey, or JOLTS report, from the&nbsp;Labor&nbsp;Depart</p>


US labour market stable as job openings rise, hiring eases in November

<p>Meta Platforms Inc&nbsp;will end third-party fact-checking on its social media platforms in the US, letting users comment on posts’ accuracy with a community notes system it said will promote free expression.&nbsp;</p>


Meta cuts fact-checkers, says content moderation went ‘too far’

<p>Apple Inc shares have had a challenging start to 2025, as investors fret over weakness in the critical Chinese market.</p>

<p>The shares fell for five straight sessions before Monday’s bounce, in the longest losing streak since April.</p>


January will be tough for Apple as it faces China weakness, tariff risks

<p>Finnish police said on Tuesday they had recovered a lost anchor from the seabed as part of an investigation of suspected sabotage against power and internet cables in the Baltic Sea.</p>


Finland recovers anchor in Baltic Sea cables investigation

<p>Canada’s tax authority will continue applying the higher capital gains inclusion rate despite Prime Minister Justin Trudeau’s suspension of Parliament.</p>

<p>Trudeau’s government introduced the change in the 2024 federal budget, increasing the inclusion rate as of June 25 from 50% to two-thirds for all corporations and trusts, and for individuals earning more than C$250,000 (RM778,123), with some exceptions.</p>


Canada to apply capital gains tax change despite government halt

<p>Getty&nbsp;Images said on Tuesday it would merge with rival Shutterstock&nbsp;to create a US$3.7 billion (RM16.6&nbsp;billion) stock image powerhouse geared for the artificial intelligence (AI) era, in a deal that would likely draw antitrust scrutiny.</p>
