<div class=newsTextDataWrapInner>SINGAPORE (Jan 2): CIMB Bank Singapore announced Thursday it has appointed Victor Lee Meng Teck as its new chief executive officer.</div>

<div class=newsTextDataWrapInner>With more than 20 years of experience in the retail and commercial banking sectors across Singapore, Malaysia, Thailand and Indonesia, Lee is also the CEO of CIMB Group Commercial Banking.</div>

<div class=newsTextDataWrapInner>He takes over the position from Mak Lye Mun, who is retiring after a decade at the helm of CIMB Bank's Singapore office.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>For the full story, visit <a href="https://www.theedgesingapore.com/news/company-news/cimb-bank-appoints-victor-lee-meng-teck-singapore-ceo" target="_blank">www.theedgesingapore.com</a>.</div>

CIMB Bank Singapore announced Thursday it has appointed Victor Lee Meng Teck as its new chief executive officer.

With more than 20 years of experience in the retail and commercial banking sectors across Singapore, Malaysia, Thailand and Indonesia, Lee is also the CEO of CIMB Group Commercial Banking.

CIMB Bank appoints Victor Lee Meng Teck as Singapore CEO

Intel expects the US government to reduce a preliminary subsidy of US$8.5 billion (RM37.95 billion) to build more chip factories, two sources familiar with the matter said on Monday, weeks after the company received a separate US$3 billion deal with the Pentagon.

Intel expects US to shave chip-making grant, Reuters reports

US President-elect Donald Trump on Monday pledged a 25% tariff on all products from Mexico and Canada from his first day in office, and an additional 10% tariff on goods from China, citing illegal immigration and the trade of illicit drugs.

Trump pledges 25% tariffs on Canada and Mexico, more on China too

The dollar rallied against major peers on Tuesday after US President-elect Donald Trump pledged tariffs on all imports from Canada and Mexico, and additional tariffs on China.

Dollar rallies, stocks retreat after Trump vows tariffs

Shares of Hong Leong Industries Bhd (KL:HLIND) hit a new record-high on Tuesday after the motorcycle assembler reported a surge in quarterly profits.

Hong Leong Industries shares hit new all-time high amid surge in profits

Shares of Petronas Dagangan Bhd (KL:PETDAG) rose on Tuesday after the fuel retailer reported a jump in quarterly profits that exceeded market expectations.

Petronas Dagangan's shares rise after better-than-expected quarterly results

The European Union is proposing to sanction several Chinese firms that it claims helped Russian companies develop attack drones that were deployed against Ukraine.

EU proposes to sanction Chinese firms aiding Russian war effort

Issues surrounding the management of low-cost housing and civil servant quarters are among the topics to be discussed in the Dewan Rakyat on Tuesday.

Management of low-cost housing, govt quarters, focus of Dewan Rakyat on Tuesday

MORNING CALL: 26/11/24

South Koreans’ outlook for the economy deteriorated at the fastest pace in more than two years in November, according to a monthly central bank survey conducted after Donald Trump’s US election victory.

South Koreans’ economic outlook frays at fastest pace since 2022

Zoom Video Communications raised its forecast for fiscal 2025 revenue and adjusted profit on Monday, anticipating robust demand for its online video conferencing software as it expands its product portfolio, and clients embrace hybrid working models.

Zoom raises annual revenue and profit forecasts, expands share repurchase

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

IJM, RHB Bank, Affin Bank, Mr DIY, PetDag, KLCCP Stapled Group, S P Setia, IOI Properties, MPI, Hong Leong Industries, Gas Malaysia, Solarvest, Ho Hup Construction, Haily

US President-elect Donald Trump on Monday pledged a 25% tariff on all products from Mexico and Canada from his first day in office, and an additional 10% tariff on goods from China, citing illegal immigration and the trade of illicit drugs.

SKP Resources Bhd, one of the Malaysian suppliers of British consumer goods company Dyson Ltd, said on Monday it is mindful of significant credit concentration risk that may arise from a major customer and is continuously seeking to diversify its customer base, as it reported a 26.89% year-on-year jump in its second quarter net profit on higher revenue.

Dyson supplier SKP Resources says it's seeking to diversify customer base as 2Q profit jumps 

Republican President-elect Donald Trump says he plans to fundamentally alter the US relationship with Nato during his second four-year term and rapidly bring the war in Ukraine to a close.

Trump's foreign policy: rethink Nato, troops to Mexico, end Ukraine war

Taliworks Corp Bhd’s (KL:TALIWRK) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) jumped 79.08% year-on-year to RM24.25 million from RM13.54 million a year ago, driven by higher revenue across all operating business segments.

Taliworks’ 3Q net profit up 79% on growth across board, toll compensation; pays two sen dividend

The dollar rallied against major peers on Tuesday after US President-elect Donald Trump pledged tariffs on all imports from Canada and Mexico, and additional tariffs on China.

The Umno supreme council has revoked the suspension of former Pasir Salak MP Datuk Seri Tajuddin Abdul Rahman’s membership in Umno with immediate effect.

Tajuddin reinstated as Umno member after suspension lifted

Ho Hup Construction Company Bhd (KL:HOHUP) has resolved a winding-up petition filed by its supplier, Joterix Sdn Bhd, over an alleged unpaid sum of RM184,438.80.

Ho Hup Construction resolves winding-up petition amicably

ITMAX System Bhd (KL:ITMAX) reported a 35.6% jump in its net profit for the quarter ended Sept 30, 2024 (3QFY2024), as its revenue climbed 48.54% year-on-year.

ITMAX 3Q net profit jumps 36% to RM22.42 mil, revenue up 49%

Hong Leong Industries Bhd (KL:HLIND) said its net profit rose 60.3% to RM140.56 million in the first quarter ended Sept 30, 2024 (1QFY2025), from RM87.67 million a year ago, mainly driven by higher motorcycle sales and a RM12.6 million gain from a land disposal.

Hong Leong Industries says 1Q profit rose on higher motorcycle sales, declares 25 sen dividend

The benchmark S&amp;P 500 and the blue-chip Dow hit intraday record highs on Monday while the Nasdaq also advanced, with Scott Bessent's nomination as Treasury secretary in the incoming Trump administration boosting investor sentiment.

S&P 500, Dow touch record highs as markets cheer Trump's Treasury pick

The government does not intend to allow vehicles owned by non-citizens to enjoy the RON95 subsidy, said the Ministry of Economy.

The ministry said the move was in line with the government’s objective to strengthen the country’s fiscal positition as stated in the 12th Malaysia Plan (12MP).

Economy Ministry says govt will not allow non-citizen vehicles to enjoy RON95 subsidy 

Nvidia on Monday showed a new artificial intelligence model for generating music and audio that can modify voices and generate novel sounds — technology aimed at the producers of music, films and video games.

Nvidia shows AI model that can modify voices, generate novel sounds

Perak has good potential to be a contributor to the national economy compared to other states, Economic Affairs Minister Rafizi Ramli said.

Perak has potential to contribute to national economy — Rafizi

Shares of Hong Leong Industries Bhd (KL:HLIND) hit a new record-high on Tuesday after the motorcycle assembler reported a surge in quarterly profits.

Zoom Video Communications raised its forecast for fiscal 2025 revenue and adjusted profit on Monday, anticipating robust demand for its online video conferencing software as it expands its product portfolio, and clients embrace hybrid working models.

The Ministry of Energy Transition and Water Transformation (Petra) said it is open to exploring the use of new technologies for electricity generation to achieve the target of net zero carbon emissions as early as 2050.

Petra says ready to explore new technologies to generate electricity

Funds managed by Blackstone Inc agreed to invest US$3.5 billion (RM15.63 billion) to create a joint venture with EQT Corp, enabling the US natural gas producer to reduce its debt.

Blackstone, EQT form US$3.5 bil gas pipeline venture

Mpire Global Bhd (KL:MPIRE) announced plans to raise capital through a proposed rights issue.

Mpire Global unveils rights issue to raise RM13 mil for business expansion

Stocks climbed with bonds while the dollar fell as traders welcomed Donald Trump’s pick of Scott Bessent for Treasury Secretary, betting the hedge-fund manager will bring a Wall Street mindset to the role.