<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 26): China Construction Bank Corp Labuan Branch (CCBL) has become the first digital bank to operate in the Labuan International Business and Financial Centre (Labuan IBFC).</p></div>

<div class=newsTextDataWrapInner><p>In a statement today, Labuan IBFC said CCBL received the regulatory approval from the Labuan Financial Services Authority to conduct digital banking activities in the special economic zone.</p></div>

<div class=newsTextDataWrapInner><p>"With CCBL being the pioneer in conducting digital banking in Labuan IBFC, this represents the beginning of an exciting journey that will further solidify Labuan IBFC's positioning as the preferred jurisdiction for businesses seeking to connect with Asia's economies and beyond," it added.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Labuan IBFC said essentially, CCB is supporting key customers of the Belt and Road Initiative, bilateral trading companies and local large-scale infrastructure construction projects, which are also in tandem with the development of Labuan IBFC's banking sector in the era of financial technology or digital evolution in the global financial industry.</p></div>


China Construction Bank Corp Labuan Branch (CCBL) has become the first digital bank to operate in the Labuan International Business and Financial Centre (Labuan IBFC).

In a statement today, Labuan IBFC said CCBL received the regulatory approval from the Labuan Financial Services Authority to conduct digital banking activities in the special economic zone.

China Construction Bank Corp first to get digital bank approval in Labuan IBFC

Velesto Energy Bhd's (KL:VELESTO) shares fell to their lowest in close to two years on Friday, despite reporting a more than 30-fold jump in its third quarter (3Q) net profit, as it flagged a challenging outlook amid slower demand after announcing that a client had suspended the contract of its Naga 8 jack-up rig.

Velesto's share price skids despite 3Q profit jump as it flags slowing demand for jack-up rigs

QL Resources Bhd's (KL:QL) net profit rose 4.6% in the second financial quarter from a year earlier, on the back of improved revenue contributions from all its business segments, which helped offset increases in tax expenses and finance costs.

QL Resources' 2Q profit climbs 5% as higher sales offset increases in tax, finance costs

Euro-area inflation climbed above the European Central Bank’s (ECB) 2% target, though officials are unlikely to be deterred from continuing to lower interest rates next month and beyond.

Eurozone inflation accelerates but won’t derail ECB cuts

Panasonic Manufacturing Malaysia Bhd (KL:PANAMY) on Friday reported its lowest quarterly net profit in three years, hit by a foreign exchange (forex) loss and increased raw material costs.

Panasonic's 2Q net profit drops to three-year low on forex loss, higher material costs

China Renaissance Holdings Ltd chief executive officer Xie Yi Jing has resigned, less than 10 months after assuming the duties from co-founder Bao Fan, a star banker who has vanished from the public eye since early last year.

China Renaissance CEO resigns 10 months after star banker Bao Fan's exit

AME Elite Consortium Bhd (KL:AME) eked out a tiny gain in net profit thanks mostly to lower tax expenses, though the property developer is still confident of better finances this fiscal year.

AME Elite ekes out tiny quarterly profit on lower tax expenses

IGB Commercial Real Estate Investment Trust (IGB Commercial REIT) (KL:IGBCR) is buying two office floors in Menara Southpoint of Mid Valley City from its sponsor and parent company, IGB Bhd (KL:IGB), for RM62.4 million cash. IGB holds 53.84% in IGB Commercial REIT.

IGB Commercial REIT buys two office floors in Menara Southpoint from IGB for RM62.4 mil cash

Muar Member of Parliament Syed Saddiq Syed Abdul Rahman said on Friday that he will immediately file an appeal against the conviction and sentence handed down to him by the High Court in his criminal breach of trust (CBT) and money-laundering case, after finally receiving the full written judgement.

Syed Saddiq to immediately file graft appeal after finally receiving written judgement

India's foreign ministry said on Friday that bribery allegations against billionaire Gautam Adani is a legal issue between private firms and the US Department of Justice and that New Delhi has not received any request on this case from Washington.

Adani allegations a legal issue between private firms and US, India says 

China boosted its cash injection into the banking system via a recently launched policy tool, in a move designed to ensure sufficient liquidity amid a surge in local government bond sales.

PBOC injects US$111b of liquidity as bond supply surges

<p>Hextar Industries Bhd (KL:HEXIND) said on Friday it has signed an agreement to bring in Chinese coffee house chain Luckin Coffee to Malaysian shores.</p>


Hextar Industries gets exclusive rights to bring in Luckin Coffee chain

<p>The sentence against Muar Member of Parliament Syed Saddiq Syed Abdul Rahman in his criminal case was not excessive, partly because as a lawmaker and an "idol" for youngsters, he should be held to a "higher standard", said the judge who convicted the young MP for misappropriation of party funds.</p>


High Court: Sentence in Syed Saddiq's criminal case, which includes two strokes of the cane, not excessive

<p>Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest bank by assets, said on Friday that its net profit rose 12% in the third quarter from a year earlier, thanks to operating income growth.</p>


Public Bank’s 3Q net profit rises 12% as both interest, non-interest income grow

<p>Capital A Bhd (KL:CAPITALA) slid in early trade on Friday after the aviation group's third-quarter results, which were mainly boosted by forex gains, came in below most analysts' expectations.</p>


Capital A slides in early trade after forex-boosted 3Q largely misses expectations

<p>CelcomDigi Bhd (KL:CDB) on Friday named Dennis Chia as chief financial officer effective Jan 2, 2025 at the country’s largest mobile network operator by subscribers.</p>


CelcomDigi names ex-StarHub CFO Dennis Chia as new finance chief

<p>RHB Bank Bhd (KL:RHBBANK), the country’s fourth-largest lender by assets, announced that its third-quarter net profit grew 28% from a year earlier as the banking group booked sharp currency gains of RM659.86 million.</p>


RHB Bank's 3Q earnings grow 28% 

<p>Sapura Energy Bhd (KL:SAPNRG) announced on Friday the impending departure of its chairman Datuk Mohammad Azlan Abdullah and chief executive officer Datuk Mohd Anuar Taib.</p>


Sapura Energy announces departure of chairman and CEO

<p>Supreme Consolidated Resources Bhd (KL:SUPREME) ended its first day of listing with a 22% gain, after the frozen food processor’s initial public offering (IPO) on the ACE Market raised RM17.5 million.</p>


Supreme Consolidated gains 22% at close of ACE Market debut

<p>Shares of Tenaga Nasional Bhd (KL:TENAGA) fell on Friday to their lowest in nearly four months, after the national electric utility reported weaker-than-expected third-quarter earnings.</p>


TNB falls to near four-month low on weaker-than-expected 3Q

<p>A port, a theme park and maybe even a Formula 1 race — those are just some of the things that one of Indonesia’s richest men believes can be hosted at his ambitious real estate project in North Jakarta.</p>


Indonesian tycoon eyes theme park, F1 in US$16b project

<p>(Nov 29):&nbsp;A return to profitability in e-commerce for Sea Ltd&nbsp;has analysts turning even more bullish on its stock, after a rally that has added US$43 billion (RM190.9 billion) to its market value so far this year.</p>


Sea’s profit draws bullish analyst calls after US$43b rally

<p>Casual wear giant&nbsp;Uniqlo&nbsp;is facing calls for a consumer boycott in China, after the chief executive officer of the clothing company's owner said it does not source cotton from the Chinese region of Xinjiang, which has faced allegations of forced labour in recent years.</p>


Uniqlo risks boycott in China after CEO's Xinjiang comment

<p>KUALA LUMPUR (Nov 29): Maybank Asset Management Sdn Bhd (Maybank AM)&nbsp;has launched the&nbsp;MAMG Alpha Capital &amp; Income Opportunities Fund&nbsp;to enhance diversification, and deliver both income and capital growth.&nbsp;</p>


Maybank Asset Mgmt partners Fidelity Int’l to launch multi-asset fund

<p>KUALA LUMPUR (Nov 29): Shares of Axiata Group Bhd (KL:AXIATA) rose to a one-month high on Thursday, as investors welcomed a better-than-expected third quarter, while&nbsp;analysts stayed divided amid earnings uncertainties ahead.</p>


Axiata shares rise to one-month high after better-than-expected 3Q, analysts still divided

<p>KUALA LUMPUR (Nov 29): CIMB Group Holdings Bhd (KL:CIMB) is expected to achieve its return on equity (ROE) target for 2024, after its 3QFY2024 results exceeded expectations, analysts said on Friday.</p>


CIMB on track to meet ROE target after 3Q results beat estimates

<p>Global shares headed on Friday for their best month since May as hopes for strong US growth and the artificial intelligence (AI) investment boom outweighed concerns about political upheaval and economic slowdown in Europe.</p>


World stocks head for best month since May as Trump trades lift Wall Street

<p>Low-cost, medium-haul airline AirAsia X Bhd (KL:AAX) reported a surge in net profit for the third quarter, as currency gains and higher revenue offset a jump in operating expenses.</p>


AirAsia X reports 22-fold jump in net profit on currency gains

<p>Velesto Energy Bhd (KL:VELESTO) on Friday said its subsidiary Velesto Drilling Sdn Bhd (VED) has received a notice of suspension for the jack-up rig Naga 8 contract from Carigali Hess Operating Company Sdn Bhd.</p>


Carigali Hess suspends Velesto's Naga 8 jack-up rig contract as drilling work completed early

<p>KUALA LUMPUR (Nov 29): OSK Holdings Bhd’s (KL:OSK) net profit for the third quarter increased 11.55%, boosted by a higher share of results of associates and a joint venture, particularly from RHB Bank Bhd (KL:RHBBANK).</p>


Higher share of RHB earnings boosts OSK’s 3Q net profit

<p>The yen extended gains through the key psychological level of 150 against the dollar as the market priced in a greater chance of the yield gap between the US and Japan narrowing next month.</p>
