<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 9): Bursa Malaysia Securities Bhd published a consultation paper today seeking public feedback on proposals to revamp corporate governance practice guidelines for listed issuers.</p></div>

<div class=newsTextDataWrapInner><p>In a statement, Bursa Malaysia said the revamped guidelines would provide a practical way for listed issuers to improve their corporate governance principles and practices, as stated in the latest Malaysian Code on Corporate Governance (MCCG).</p></div>

<div class=newsTextDataWrapInner><p>The MCCG was released by the Securities Commission Malaysia end-April 2017.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Bursa said the proposed revamped guide should be aligned to the new “Comprehend, Apply and Report (CARE)” structure of the MCCG, comprising three principles — Intended Outcome, Practices and Step-Up Practices for large companies.</p></div>

<div class=newsTextDataWrapInner><p>The consultation paper seeks the public's views on enabling better understanding of listed issuers on value proposition and benefits for adoption of each practice, practical guidance and customisable instruments for the implementation of relevant practices, as well as insights for deeper reflection and internalisation of corporate governance by highlighting hot button issues, case studies and international developments.</p></div>

<div class=newsTextDataWrapInner><p>The deadline for feedback is Oct 23.</p></div>


KUALA LUMPUR (Oct 9): Bursa Malaysia Securities Bhd published a consultation paper today seeking public feedback on proposals to revamp corporate governance practice guidelines for listed issuers.

In a statement, Bursa Malaysia said the revamped guidelines would provide a practical way ...

Bursa seeks feedback on proposals to revamp governance guidelines

Meta Platforms Inc plans to invest as much as US$65 billion (RM288.56 billion) on projects related to artificial intelligence (AI) in 2025, including building a giant new data centre and increasing hiring in AI teams, chief executive officer Mark Zuckerberg said on Friday.

The company intends to use the funds to build a data centre “so large that it would cover a significant part of Manhattan,” Zuckerberg said in a Facebook post.

Zuckerberg says Meta to spend up to US$65 bil on AI this year

Urban development planning in Malaysia must preserve the country’s identity, particularly in terms of its arts and culture, even while embracing advanced technology.

Prime Minister Datuk Seri Anwar Ibrahim said in addition to prioritising organised and systematic planning, cities in the country should also be recognised for their distinct character and uniqueness, setting them apart from major cities like London and those in Japan.

Urban planning in Malaysia must preserve national identity, culture — PM 

Sales of previously owned homes in the US rose for the third straight month in December, entering 2025 with some momentum after the worst year in nearly three decades.

Contract closings of existing homes last month increased 2.2% to an annualised rate of 4.24 million, the most since February, according to National Association of Realtors data released on Friday. That was in line with the estimate of economists surveyed by Bloomberg.

US existing-home sales pick up at end of worst year since 1995

(Jan 24): US Treasury yields have trended up since late last year, and commercial real estate distress risk is straining regional banks’ balance sheets again.

Stocks are already reacting to the higher borrowing costs. Smaller bank shares have fallen about 8.2% since late November a...

Regional banks face headache from rising Treasury yields

The benchmark S&P 500 and the Nasdaq struggled for direction on Friday, as investors avoided big bets and assessed fresh data to gauge the health of the economy, while Boeing dipped after issuing a quarterly profit warning.

A S&P Global survey showed that business activity slowed to a ninth-month low in January amid rising price pressures, but firms reported higher hiring, supporting the Federal Reserve's cautious approach to monetary policy this year.

S&P 500, Nasdaq flat as investors assess economic data; Boeing slips

Sarawak Consolidated Industries Bhd (KL:SCIB) on Friday said that the project developer for the now-scrapped civil servants housing project in Perak has disagreed with the repayment terms, and denied the outstanding debt it owed to the Main Market-listed company.

On Jan 13, SCIB announced that the RM162 million contract awarded to its wholly owned unit, SCIB Properties Sdn Bhd (SCIBP), from Awana JV Suria Saga Sdn Bhd in July 2024 as part of a debt settlement collapsed after Awana failed to fulfil a key condition precedent within the stipulated time frame.

Developer disagrees over repayment conditions, debt owed to SCIB for scrapped Perak housing project

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

MAHB, Gamuda, MRCB, Scientex, Genting Plantations, TMC Life Sciences, Axis REIT, AmanahRaya REIT, Taghill, Chin Hin, Ajiya, TCS 

Changpeng “CZ” Zhao, a few months out of prison and worth US$70 billion (RM310.75 billion)thanks to the relentless crypto rally, is turning the former venture capital (VC) arm of his Binance Holdings Ltd into a family office.
 
Binance Labs, which oversees about US$10 billion of crypto-related assets, will be renamed YZi Labs, according to a statement on Thursday.

Crypto’s richest man turns VC firm into giant family office

One of Chicago’s wealthiest families has named new leaders and appointed a board for the dynasty’s business after the death of Jim Crown at a racetrack accident in 2023.

Bill Crown, Jim’s first cousin, will replace him as president and chief executive officer of Henry Crown & Co, according to a statement on Friday. Brother Steve Crown will serve as executive chairman of a board of directors that will have five members.

Billionaire Crown dynasty revamps leadership after death of Jim Crown

TMC Life Sciences Bhd (KL:TMCLIFE) warned on Friday that it expects to report a loss for the second quarter ended Dec 31, 2024 (2QFY2025), compared to the net profit recorded in the same period last year.

TMC Life Sciences issues profit warning due to contract issues

<p>Malaysian Resources Corp Bhd (KL:MRCB) is partnering with Melaka Corp to develop a hospital on a parcel of land in Melaka Tengah, that will have an estimated gross development cost of RM520 million.</p>


MRCB forms JV with Melaka Corp for RM520m hospital project

<p>The intraday short selling (IDSS) of Tanco Holdings Bhd’s (KL:TANCO) shares has been suspended for the rest of the day after its last done price dropped more than 15% or 15 sen from its reference price.</p>


Bursa Malaysia suspends short-selling of Tanco's shares

<p>Oversea-Chinese Banking Corp’s (OCBC) chief executive officer made a fresh effort to win over key shareholders of a Singapore insurer that the bank has been trying to take full control of for over two decades.</p>


OCBC CEO met key Great Eastern deal holdouts on US$1b bid — Bloomberg

<p>Malay rights activist Datuk Ibrahim Ali told the High Court that former prime minister Datuk Seri Najib Razak was dishonest with him about the source of RM600,000 given to him in 2015.</p>


Ibrahim Ali says unaware of source of RM600,000 given to him by 'dishonest' Najib

<p>The government has agreed to provide a 50% discount on toll rates for all Class 1 (private) vehicles on Jan 27 and 28, in conjunction with Chinese New Year 2025, said Works Minister Datuk Seri Alexander Nanta Linggi.</p>


CNY toll discount of 50% on all highways on Jan 27-28, following Cabinet's latest decision — Nanta

<p>A lawsuit by 1Malaysia Development Bhd (1MDB) and its subsidiaries against former prime minister Datuk Seri Najib Razak and former management staff will get a new judge.</p>


1MDB lawsuits to get new judges

<p>Bursa Malaysia Bhd and its subsidiaries will be closed on Jan 29 and 30 in conjunction with the Chinese New Year (CNY) public holiday.</p>


Bursa Malaysia, subsidiaries to close for CNY public holiday

<p>TikTok’s Chinese parent company has just over two months to find a buyer for the app’s US business or face a nationwide ban, after getting a time&nbsp;extension from US President Donald Trump.&nbsp;There is already competition to own it.</p>


TikTok’s possible buyers, from Elon Musk to MrBeast

<p>A consortium led by Khazanah Nasional Bhd has received valid acceptances of 1.548 billion shares or 92.82% of the total number of issued shares in Malaysia Airports Holdings Bhd (KL:AIRPORT) on its conditional voluntary offer for shares of the airport operator, better known as MAHB.</p>


MAHB takeover: Acceptance of Khazanah-led consortium's offer reaches 92.82% 

<p>A pastry company and its director were charged in two Sessions Courts here on Friday with 14 counts of using the halal logo and a registered trademark without approval in the supply of 366 sandwiches of various types.</p>


Shake and Bake Cafe and its director charged with using halal logo without approval

<p>Penang International Airport's (PIA) achievement of becoming Malaysia’s second busiest airport in 2024 is a testament to Penang’s growing role as a key hub for both tourism and business, reflecting the state's strong recovery in the post-pandemic era.</p>

<p>State Tourism and Creative Economy Committee chairman Wong Hon Wai said the growth in PIA’s total passenger volume of 7.47 million last year, which is a 7.07% increase compared with 6.97 million passengers in 2023, aligns with the state government’s significant investments in tourism over the past two years.</p>


Having nation's second busiest airport cements Penang's role as northern aviation hub — exco

<p>Packaging manufacturer and developer Scientex Bhd (KL:SCIENTX) on Friday said it is acquiring 528.49 acres of land in Paya Rumput, Melaka for RM333.8 million cash (RM14.50 per sq ft) from Genting Plantations Bhd (KL:GENP).</p>


Scientex buys Melaka land from Genting Plantations for RM333 mil cash

<p>The government and Public Services Department (PSD) have filed an appeal over the High Court’s decision in the case involving Aminah Ahmad and more than 50 other pensioners.</p>

<p>A notice of appeal was filed by the Attorney General's Chambers on Jan 23 stating that they are appealing the entirety of High Court judge Datuk Amarjeet Singh Serjit Singh’s decision that in effect gave pension increments to entitled civil servant retirees.</p>


Govt files appeal over Aminah’s pension case that will affect nearly one million former civil servants

<p>Eco World Development Group Bhd (KL:ECOWLD)(EcoWorld Malaysia) has officially opened the Tuah 1895 dining and lifestyle hub at its Bukit Bintang City Centre (BBCC) mixed-use development in Pudu, Kuala Lumpur on Friday.&nbsp;</p>

<p>Developed by BBCC Development Sdn Bhd, which is a joint venture company between EcoWorld Malaysia, UDA Holdings Bhd and the Employees Provident Fund, the 19.4-acre BBCC comprises residential suites, offices, hotels, a mall and entertainment offerings.</p>


EcoWorld Malaysia officially opens Tuah 1895 dining and lifestyle hub at Bukit Bintang City Centre

<p>As an export-driven economy, Malaysia faces challenges this year in keeping up with policy shifts made by its third largest trading partner, the US, according to AmBank.</p>


Malaysia faces challenges keeping pace with US policy shifts, says AmBank economist

<p>A duty manager of a hotel was sentenced to 12 months in jail and two strokes of the rotan by the Sessions Court here on Friday after pleading guilty to a charge of criminal breach of trust (CBT) amounting to more than RM30,000 in hotel room payments.</p>


Hotel duty manager jailed 12 months for criminal breach of trust

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


<p>Moody's Ratings on Friday affirmed Malaysia's sovereign rating at A3 with a stable outlook, citing strong medium-term growth prospects and effective policymaking institutions.</p>


Moody's keeps Malaysia's sovereign rating at A3, outlook stable

<p>After spending RM719.4 million to acquire eight new assets in 2024, Axis Real Estate Investment Trust (Axis REIT) (KL:AXREIT) said it will continue to aggressively source potential acquisition targets, particularly industrial properties.</p>


Axis REIT in hot pursuit of industrial deals

<p>A joint venture between Gamuda Bhd (KL:GAMUDA) and Ferrovial (GFJV) has inked an early contractor involvement (ECI) agreement with Capricornia Energy Hub (CEH) for a hydroelectric storage project in Queensland, Australia. CEH is backed by Copenhagen Infrastructure Partners, one of the world's largest clean energy investors.</p>
