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<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 29): Sarawak Consolidated Industries Bhd's (SCIB) group managing director and chief executive officer (CEO) Rosland Othman has disposed of 10.16 million shares, or a 2.07% stake, in the group for RM4.88 million.</p></div>

<div class=newsTextDataWrapInner><p>Following the disposal, Rosland holds 26.14 million shares or a 5.33% stake in SCIB, according to the group's filing with Bursa Malaysia.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Rosland sold the 10.16 million shares in two blocks in the open market yesterday (June 28) at 47.56 sen and 48.13 sen per share.</p></div>

<div class=newsTextDataWrapInner><p>The prices represent a premium of 4.53% and 5.78% over the stock's closing price of 45.5 sen yesterday.</p></div>

<div class=newsTextDataWrapInner><p>Today, the stock closed at 46 sen for a market capitalisation of RM226 million. The trading volume was 64.94 million shares.</p></div>

<div class=newsTextDataWrapInner><p>SCIB, which has been linked to Serba Dinamik Holdings Bhd group managing director and CEO Datuk Dr Mohd Abdul Karim Abdullah, has come under selling pressure after Serba Dinamik's audit woes surfaced at the end of May.</p></div>

<div class=newsTextDataWrapInner><p>The counter has since declined by 69% from RM1.48 on May 25.</p></div>

<div class=newsTextDataWrapInner><p>Serba Dinamik has been embroiled in an auditing dispute with its former external auditor KPMG, after the latter highlighted discrepancies involving transactions to the tune of RM4.54 billion to the group's independent directors last month.</p></div>


Sarawak Consolidated Industries Bhd's group managing director and chief executive officer Rosland Othman has disposed of 10.16 million shares, or a 2.07% stake, in the group for RM4.88 million.

CEO Rosland Othman trims stake in Sarawak Consolidated Industries

Here is a brief recap of some corporate announcements that made the news on Thursday.

Bumi Armada, MISC, Berjaya Food, Mr DIY, Prolintas, Lysaght, Keyfield, Teo Seng, YTL Power, Ranhill Utilities, Seal and LBS Bina

US regulators led by the Federal Reserve have refused to endorse a plan that would have seen the Basel Committee on Banking Supervision push lenders to disclose their climate risk, according to people familiar with the matter.

Fed refuses to back Basel climate plan, leaving talks in limbo

Ford Motor Co agreed to a US$165 million (RM733.5 million) civil penalty to settle allegations the company failed to recall cars with defective rearview cameras in a timely manner, the second largest fine ever levied by the National Highway Traffic Safety Administration (NHTSA).

Ford hit with near-record US$165 mil penalty on recall failure

Small and medium enterprises (SMEs) play a crucial role in driving economic growth within the Asia-Pacific Economic Cooperation (Apec) region, particularly when it comes to fostering inclusive development, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

SMEs play crucial role in driving growth in Apec economies, fostering inclusivity — Tengku Zafrul

The government will draft the Government Procurement Bill (GP Bill) in taking specific steps to increase transparency in the government procurement process, according to the Ministry of Finance.

Govt procurement draft bill to be tabled in Parliament next year

Bina Puri Holdings Bhd (KL:BPURI) said on Thursday that its associate company KL-Kuala Selangor Expressway Bhd (Latar) has won an arbitration case against Prolintas Expressway Sdn Bhd and was awarded RM46.13 million.

Bina Puri's associate wins RM46 mil in arbitration case against Prolintas 

Walt Disney Co posted fiscal fourth-quarter (4Q) sales and profit that beat Wall Street estimates and forecast earnings growth for the next three years, a rare event for a company that historically hasn’t made long-range profit projections.

Disney 4Q profit beats expectations as movies, streaming gain

The number of women holding positions as Members of Parliament, State Assembly members and ministers in Malaysia remains low, said Deputy Minister of Communications Teo Nie Ching.

Female representation in Parliament, state assemblies still low, says Teo

Wall Street's main indexes edged lower in choppy trading on Thursday after monthly producer prices rose as expected, with investors awaiting Federal Reserve (Fed) Chair Jerome Powell's comments later in the day for clues on the outlook for interest rates.

Wall Street struggles for direction after in-line monthly producer prices

Chinese President Xi Jinping will arrive in Lima on Thursday, kicking off a week-long diplomatic blitz in Latin America by inaugurating the massive Chancay deepwater port, one of Beijing's most ambitious infrastructure investments in Latin America.

China's Xi arrives in Lima for Apec, to open Pacific megaport

<p>The chief executive officer (CEO) of Encorp Berhad (KL:ENCORP), Hazurin Harun, 54, was charged in the Sessions Court on Thursday with two counts of criminal breach of trust (CBT) involving RM1.05 million last year.</p>


Encorp CEO slapped with CBT charges involving RM1.05m

<p>AS the sixth largest of Malaysia’s eight domestic banking groups in terms of assets, AMMB Holdings Bhd (AmBank Group) (KL:AMBANK) is considered a mid-sized lender.</p>

<p>Its relatively smaller size, and the fact that there is often talk that its key shareholder — founder Tan Sri Azman Hashim ...

Cover Story: Analysts not ruling out possibility of M&A at AmBank 

<p>In a landmark decision, the High Court on Thursday ruled that developers who deliver vacant possession of a property without allowing the owners to occupy it is against public policy and goes against the purpose of the vacant possession.</p>


Delivery of vacant possession without occupancy rights is against public policy, court rules

<p>Bumi Armada Bhd (KL:ARMADA) is exploring a merger with MISC Bhd’s (KL:MISC) offshore business that could create a global energy services powerhouse with combined assets worth over RM20 billion.</p>


Bumi Armada signs pact with MISC to explore merger of offshore business

<p>Malaysian banks’ earnings will stay “rangebound” in 2025 as the sector grapples with pressure on profitability and a rise in bad debts, according to S&amp;P Global.</p>

<p>Net interest margins, which measures the difference between interest received on loans and returns paid on deposits, could decline by three-to-five basis points due to intense competition for both loans and deposits, the ratings agency said in a report released on Thursday.</p>


Malaysian banks' has limited upside amid margin pressure, rising bad loans — S&P

<p>IOI Properties Group Bhd (KL:IOIPG) has launched its IOI Sustain Roadmap 2030 (ISR 2030) to drive sustainable progress across all facets of the group's operations.</p>

<p>At a launch event at IOI City Mall on Thursday, ISR 2030 outlines 12 strategic pillars driving IOI Properties' initiatives to address climate change, biodiversity, waste management, sustainable finance, supply chain management, employee well-being, and sustainability risks and opportunities.</p>


IOI Properties launches sustainability roadmap and unveils new solar photovoltaic system at IOI City Mall

<p>Malaysia is sending a protest note to the Philippines regarding its two new maritime laws that infringe on Sabah’s maritime boundaries, said Deputy Foreign Minister Datuk Mohamad Alamin.</p>


Malaysia protests new Philippine laws that infringe on Sabah's maritime boundaries

<p>Gold miner Niche Capital Emas Holdings Bhd (KL:NICE) has commenced gold mining operations at the Sokor North Gold Mine in Kelantan, with the successful commissioning of its heap leaching plant there.</p>


Niche Capital Emas begins gold mining ops in Kelantan

<p>The Malaysian Automotive Association (MAA) said the country’s new&nbsp;car sales volume or total industry volume (TIV) could reach 800,000 units this year, driven by strong year-end promotions and robust demand for national cars.</p>


Car sales in Malaysia could hit 800,000 units this year, says MAA

<p>Pan Malaysia Corp Bhd (KL:PMCORP) disclosed that its audited net loss for the year ended June 30, 2024 (FY2024) was larger than previously reported in the unaudited statement.</p>


Pan Malaysia Corp says FY2024 net loss larger than before audit following full control of A&W

<p>Scomi Energy Services Bhd (KL:SCOMIES), a Practice Note 17 (PN17) company, said it is "in a preliminary discussion with a white knight to formulate a regularisation plan to be submitted before Jan 31, 2025". It did not elaborate.</p>


Scomi Energy says in talks with another potential white knight after Dhaya Maju deal falls through

<p>Cash-rich Lysaght Galvanized Steel Bhd (KL:LYSAGHT) has declared a special dividend of 35 sen per share as its quarterly earnings rose to an eight-year high.</p>

<p>This brings the total dividend declared to 43 sen per share in the current financial year ending Dec 31, 2024 (FY2024) so far — the highest since FY2018 when it paid out 50 sen dividend per share.</p>


Lysaght pays special dividend of 35 sen as earnings rise to eight-year high

<p>The Sessions Court judge hearing the corruption trial involving former Penang chief minister Lim Guan Eng on Thursday rebuked the defence counsel for repeatedly asking the same questions.</p>


Guan Eng’s defence team chastised for repeating same questions in Penang undersea tunnel graft trial 

<p>Asian currencies extended losses on Thursday, pressured by the greenback surging to a one-year high on momentum triggered by Donald Trump's election victory while emerging market stocks traded lower on an uncertain economic outlook.</p>


Currencies, stocks tumble as dollar surges on Trump trade momentum 

<p>Berjaya Food Bhd (KL:BJFOOD) on Thursday posted its fourth consecutive quarter in the red as the anti-Israel boycott movement continued to affect the group, which operates the Starbucks coffee chain in Malaysia.</p>


Berjaya Food logs fourth quarter in the red due to anti-Israel boycott

<p>PUTRAJAYA (Nov 14): Malaysia must re-evaluate its economic strategy to balance growth with social equity, said veteran economist Dr Nungsari Ahmad Radhi, stressing the need for a structural shift in the country’s factors of production, particularly labour, land, and capital, to stimulate sustaina...

Malaysia’s economy needs new focus on high-growth sectors, says Nungsari

<p>Home-grown retailer Mr D.I.Y. Group (M) Bhd (KL:MRDIY) saw a marginal 1.9% drop in its third-quarter net profit, on higher administrative and other operating expenses, which increased by 25.6% and 10.2% year-on-year (y-o-y) to RM56.7 million and RM283.7 million respectively.</p>


Higher administrative expenses drag down Mr DIY's 3Q net profit slightly, one sen dividend declared

<p>Teo Seng Capital Bhd (KL:TEOSENG) posted a 32.4% jump in its third quarter net profit, lifted by strong gains in its key poultry farming business, as well as its segment on investments and trading of poultry-related products.</p>

<p>Net profit for its July-September quarter (3QFY2024) climbed to RM58.1 million from RM43.8 million a year ago.</p>


Teo Seng signals strong prospects as it posts 32% jump in 3Q profit 

<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.</p>


FBM KLCI down 0.67% to 1,600.68 on Nov 14, 2024

<p>CapitaLand Malaysia REIT Management Sdn Bhd (CMRM), the manager of CapitaLand Malaysia Trust (KL:CLMT), has appointed Yong Su-Lin as chief executive officer, designate (CEO designate) of the company effective Jan 2, 2025.</p>
