<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 10): Ooi Chieng Sim, the former chairman of Heng Huat Resources Bhd, has resigned from his position as non-independent and non-executive director of the company.</p></div>

<div class=newsTextDataWrapInner><p>Ooi resigned "to focus on his personal matter", according to Heng Huat's filing with Bursa Malaysia today.</p></div>

<div class=newsTextDataWrapInner><p>Ooi, who was also chairman of ATTA Global, was redesignated to being a non-independent and non-executive director in less than two weeks ago on Jan 31, a few days before he was suspended from his directorship. His executive role in ATTA Global has also been suspended.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The changes came after news broke that, Ooi, who currently still holds a cumulative 20.3% stake in Heng Huat, was among eight men who were charged at the magistrate's court in Bukit Mertajam, Penang, for drug trafficking.</p></div>

<div class=newsTextDataWrapInner><p>The eight men were charged with trafficking 4,980 grammes of methamphetamine at a warehouse on the right side of ATTA Global’s premises at the Perai Industrial Estate at about 10.30am on Jan 16. If convicted, the offenders face the death penalty or life imprisonment.</p></div>

<div class=newsTextDataWrapInner><p>Both Heng Huat and ATTA's shares have been suspended from trading on Jan 16, amid police investigations.</p></div>


KUALA LUMPUR (Feb 10): Ooi Chieng Sim, the former chairman of Heng Huat Resources Bhd, has resigned from his position as non-independent and non-executive director of the company.

Ooi resigned "to focus on his personal matter", according to Heng Huat's filing with Bursa Malaysia today.

Ex-chairman Ooi Chieng Sim quits Heng Huat's board amid drug charges

CapitaLand Investment Ltd, one of Asia’s largest property investment managers, warned of potential losses as it seeks to extricate itself from China’s real estate crisis.

CapitaLand warns of China losses as Singapore property investor cuts exposure

(Nov 21): New car sales in Europe were flat in October, after falling for two consecutive months, industry data showed on Thursday, while the transition to fully electric or hybrid models gained ground in the month.

An uptick in total sales in Spain and Germany, of 7.2% and 6% resp...

European car sales flat in October, EVs gain ground, ACEA says

FRANKFURT (Nov 21): Germany's economy is facing deep and profound challenges that could push up corporate insolvencies, keeping default risk elevated next year, the Bundesbank said in a Financial Stability Report on Thursday.

Germany's economy has been skirting a recession for most of t...

Germany faces high corporate default risk in 2025, Bundesbank says

The parent firm of Britain's Royal Mail warned of a worsening cost environment following last month's budget and said it could not rule out price hikes and higher automation as it looks to cut costs after returning to a first-half profit.

Royal Mail owner IDS warns of cost pressures after return to profit

KUALA LUMPUR (Nov 22): Shares of DRB-Hicom Bhd (KL:DRBHCOM) fell on Friday to their lowest in more than four years, after the automotive-to-banking conglomerate reported weaker than expected quarterly results.

DRB-Hicom shares fall to over four-year low, analysts divided over outlook after 3Q

Now is an opportune time to accumulate Dayang Enterprise Holdings Bhd (KL:DAYANG) shares given its undemanding valuations, said CGS International.

Good opportunity to accumulate Dayang shares — CGS

Mercedes-Benz plans to cut costs by several billion euros per year in the coming years, the Handelsblatt newspaper reported on Thursday, citing a spokesperson for the German carmaker.

Mercedes plans to cut costs by several billion euros per year — report

Police using all available info to continue tracking down Jho Low — IGP

SD Guthrie Bhd (KL:SDG), formerly known as Sime Darby Plantation Bhd, is expected to post flattish net profit growth for the fourth quarter of 2024 (4Q2024), attributed to slower recovery in fresh fruit bunch (FFB) production at its Indonesian estates, said analysts.

Analysts see SD Guthrie recording flattish 4Q profit growth

German auto parts supplier Robert Bosch will reduce the hours, and consequently the pay, of 450 employees in Germany from next spring, citing the difficult economic situation, a company spokesperson said on Thursday.

Bosch to reduce hours for 450 employees due to tough economy

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

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


Petron, DRB-Hicom, Dayang Enterprise, AEON, 7-Eleven, MSM, Hap Seng Consolidated, SunCon, UEM Sunrise, Mega First, Oriental, Heitech Padu, Can-One, Atlan, Maxim, Thong Guan, Globetronics

<p>AirAsia hopes to emulate Dubai’s success in connecting the world, but in a low-cost format from places like Bangkok and Kuala Lumpur as the discount carrier looks to move on from its tumultuous pandemic years.</p>


AirAsia founder plots low-cost Dubai-like hub in Bangkok, KL

<p>KUALA LUMPUR (Nov 22): Globetronics Technology Bhd (KL:GTRONIC) surged as top most-actively-traded stocks on Friday morning, after the company secured a RM145 million contract to provide integrated circuit (IC) product packaging, testing, and backend services to Taiwan-based ChipMOS Technologies Inc. &nbsp;</p>


Globetronics shares surge on RM145m contract win with Taiwan’s ChipMOS

<p>The Inland Revenue Board (LHDN) will continue to enforce compliance through audits and investigations to detect any non-compliance among taxpayers in Malaysia.</p>

<p>LHDN deputy chief executive officer (Compliance) Datuk Hisham Rusli said that all actions are carried out in accordance with the laws set forth.</p>


IRB committed to improving tax compliance via  audits, probes

<p>China’s richest man lashed out at two of the country’s biggest tech giants for fanning online vitriol targeting him earlier this year and instigating a price war that wiped out tens of billions of market value for his bottled-water empire.</p>


China’s richest man berates PDD, ByteDance for months of misery

<p>US President-elect Donald Trump said on Thursday he would nominate former Florida attorney general and loyalist Pam Bondi to be US attorney general, moving swiftly to replace his former nominee Matt Gaetz after the embattled former congressman withdrew from consideration.</p>


Trump picks Pam Bondi for US attorney general after Gaetz withdraws

<p>Nvidia Corp assured investors that its new product lineup will continue to fuel an artificial intelligence-driven growth run, while also signaling that the rush to get chips out the door is proving costlier than expected.&nbsp;</p>


Nvidia says new chip remains on track, helping soothe investors

<p>KUALA LUMPUR (Nov 22): TSH Resources Bhd (KL:TSH) reported a 12.19% increase in its net profit for the third quarter spanning July to September 2024 (3QFY2024), despite a drop in revenue, as it recorded reduced non-controlling interests, which resulted in the larger share of profit attributable to the owners of the company.</p>


TSH Resources reports 12% rise in 3Q net profit, pays 2.5 sen dividend

<p>The International Criminal Court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes in the Gaza Strip, adding to pressure on the country’s leadership over the conduct of its military campaign against Hamas.</p>


ICC issues arrest warrant for Israel’s Netanyahu on Gaza ‘war crimes’

<p>Australia’s flagship carrier Qantas Airways Ltd is the top-performing airline stock in Asia over the past year, and is seen as set to extend its climb with help from declining fuel prices.</p>


Qantas tops Asian airline stocks on cheap fuel, rival’s demise

<p>TOKYO (Nov 22): Nissan&nbsp;Motor&nbsp;will cut or transfer about 1,000 jobs in Thailand, as it shrinks production in Southeast Asia, part of its recently announced global workforce reduction plan, two sources familiar with the matter told<em> Reuters</em> on Friday.</p>


Nissan to cut or transfer about 1,000 jobs in Thailand — Reuters

<p>Gold was headed for its largest weekly gain in nearly eight months on Friday and the euro hovered at a 13-month low as Russia lowered its threshold for using nuclear weapons and fired a hypersonic ballistic missile at Ukraine.</p>


Gold surges and euro sags as broader war risks rise 

<p>Stocks ended the day higher as traders contemplated a new US administration keen on deregulation. Bitcoin blew past US$98,000 (RM438,868) while the dollar gained and treasury yields rose.</p>


Trump trade boosts stocks, bitcoin run at US$100,000

<p>SEC Chair Gary Gensler, whose ambitious agenda drew fierce resistance from Wall Street and the crypto industry, plans to step down on Jan 20.</p>


Gary Gensler plans to step down from SEC in January

<p>KUALA LUMPUR (Nov 22): Damansara REIT Managers Sdn Bhd, the manager of Al-`Aqar Healthcare REIT &nbsp;(KL:ALAQAR)&nbsp;and Al-Salam REIT&nbsp;(KL:ALSREIT), has appointed Zulhilmy Kamaruddin as its new chief executive officer (CEO) as of Thursday (Nov 21).</p>


Damansara REIT Managers appoints Zulhilmy Kamaruddin as its new CEO

<p>KUALA LUMPUR (Nov 22): Shares of DRB-Hicom Bhd (KL:DRBHCOM) fell on Friday to their lowest in more than four years, after the automotive-to-banking conglomerate reported weaker than expected quarterly results.</p>


<p>Now is an opportune time to accumulate Dayang Enterprise Holdings Bhd (KL:DAYANG) shares given its undemanding valuations, said CGS International.</p>


<p>NEW YORK (Nov 22): US&nbsp;stocks are extending their lead over&nbsp;global&nbsp;peers and some investors believe that dominance could grow if President-elect&nbsp;Donald Trump&nbsp;can implement his economic platform without becoming mired in a full-blown trade war, or ballooning the federal deficit.</p>
