<div class=newsTextDataWrapInner>KUALA LUMPUR (Jan 23): Ford Motor Company said its full-year retail sales in Malaysia jumped 50 per cent to 10,660 units last year, its best performance in 20 years. Managing Director, Malaysia and Asia Pacific Emerging Markets, David Westerman, said the achievement makes Ford one of the fastest growing automotive brands in the country. "Ford's exceptional year was driven by the continued popularity of the segment-defining all-new Ranger and technology-packed all-new Focus, as well as the continued expansion of Ford's Malaysia showroom with the launch of the all-new Kuga and significantly refreshed new Fiesta. &nbsp; "The success of our on-going product-led transformation is continuing to drive our momentum in Malaysia, as we introduce segment-leading global Ford vehicles that offer a best-in-class combination of smart technologies, safety, fuel economy, quality, performance and value for money," he said in a statement. </div></div><div class=inPageAd id=div-gpt-ad-inpage>

KUALA LUMPUR (Jan 23): Ford Motor Company said its full-year retail sales in Malaysia jumped 50 per cent to 10,660 units last year, its best performance in 20 years. Managing Director, Malaysia and Asia Pacific Emerging Markets, David Westerman, said the achievement makes Ford one of the fastest growing automotive brands in the country. "Ford's exceptional year was driven by the continued popularity of the segment-defining all-new Ranger and technology-packed all-new Focus, as well as the continued expansion of Ford's Malaysia showroom with the launch of the all-new Kuga and significantly refreshed new Fiesta.   "The success of our on-going product-led transformation is continuing to drive our momentum in Malaysia, as we introduce segment-leading global Ford vehicles that offer a best-in-class combination of smart technologies, safety, fuel economy, quality, performance and value for money," he said in a statement.

 Ford's sales up 50 pct to 10,660 units

Morgan Stanley was fined US$2 million (RM8.6 million) by a Massachusetts regulator over stock sales by a First Republic executive in the months leading up to the California lender’s collapse last year.

Morgan Stanley fined US$2m over First Republic stock sales

The US is assembling an economic and security assistance package for Gabon in a bid to prevent China from establishing a military footprint in the strategically positioned Central African nation, according to people familiar with the matter.

US pitches deal for Gabon to thwart Chinese military base in Africa

Alibaba Group Holding Ltd is planning to release a US credit card with the aim of encouraging small businesses to buy products on the Chinese company’s web marketplace.

Alibaba, Mastercard to issue credit card for small business

Saudi Arabia cut pricing of its flagship crude grade for its main market in Asia next month as concerns mount over waning demand.

State-owned Saudi Aramco lowered the official selling price of its Arab Light crude for buyers in Asia by 70 US cents (RM3.03) to US$1.30 a barrel against the regional benchmark, according to a price list seen by Bloomberg.

Saudis cut October crude oil price to Asia as demand wanes

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

Gamuda, OSK, Varia, Duopharma, MISC, YTL Power, MyEG, JHM, Gadang

TGI Friday’s Inc management has lost day-to-day control of much of the restaurant chain’s assets and functions after the company failed to file documents to bondholders on time.

TGI Friday’s loses control of assets after document delay

Wall Street's main indexes fell on Friday after a crucial jobs report did little to clear the uncertainty around the magnitude of the Federal Reserve's interest rate cut that is expected at the central bank's meeting later this month.

Wall Street lower after mixed jobs data 

Broadcom Inc, a chip supplier for Apple Inc and other big tech companies, plunged after the company delivered a disappointing sales forecast, hurt by the parts of its business that aren’t tied to artificial intelligence (AI).

Broadcom slides after sluggish non-AI sales drag down forecast

Builder-cum-property developer Gadang Holdings Bhd (KL:GADANG) said its subsidiaries have been hit with a civil suit by their subcontractor, claiming for an amount of RM9.77 million in alleged outstanding payments for works done related to the Johor Bahru–Singapore Rapid Transit System (RTS) Link project.

Gadang subsidiaries face RM9.77 mil claim for RTS Link work

Canada’s economy added jobs for the first time in three months, but the unemployment rate surprisingly jumped to the highest level since the pandemic as the expanding pool of new workers are unable to find work.

Canada jobless rate jumps to highest since 2017 outside Covid

The Malaysian Anti-Corruption Commission (MACC) confirmed on Friday that it has initiated a probe against YTL Communications Sdn Bhd (YTL Comms), saying it was initiated based on complaints of alleged graft, misappropriation and power abuse that it received.

MACC says probe against YTL Comms over 1BestariNet based on complaints of alleged graft, new findings

Pantech Global Bhd, a steel pipe manufacturer, has filed for an initial public offering on the Main Market to raise funds for expansion, including for the construction of a new plant and acquisition of an existing factory.

Pantech Global files for Main Market IPO

International private healthcare company Columbia Asia Healthcare Sdn Bhd has rebranded to Asia OneHealthcare Sdn Bhd (A1Health) after consolidating its healthcare assets across Malaysia, Indonesia and Vietnam.

Columbia Asia Healthcare is now Asia OneHealthcare Sdn Bhd post-Ramsay Sime Darby acquisition

OSK Holdings Bhd (KL:OSK) is expanding its cable manufacturing operations by acquiring the assets of Universal Cable (M) Bhd, currently under liquidation, for RM85 million.

OSK Holdings acquires Universal Cable's assets for RM85m to expand its cable manufacturing ops

The Biden administration plans to impose export controls on critical technologies including quantum computing and semiconductor goods, seeking to align key allies in a US-led push to thwart advancements in China and other adversarial nations.

US targets China with quantum and chip-related export curbs

The earnings prospect for real estate investment trusts (REITs) in the second half of this year is expected to remain positive, due to the bright outlook for the retail industry and industrial segment in Malaysia, according to MIDF in a note on Friday.&nbsp;

MIDF positive on REITs' earnings prospects for 2H2024 amid bright retail, industrial outlook

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

KUALA LUMPUR (Sept 6): Permodalan Negeri Selangor Bhd (PNSB) and Gagasan Nadi Cergas (KL:NADIBHD) has announced the commencement of construction for its Rumah Idaman Amani in Shah Alam. The project has a gross development value (GDV) of RM286 million.

PNSB, Gagasan Nadi Cergas break ground for Rumah Idaman Amani at City of Elmina, Shah Alam

There has been no progress on the US$2 billion (RM9.75 billion) two-gigawatt (2GW) solar farm project in Pahang, under a collaboration between Tenaga Nasional Bhd (KL:TENAGA), Citaglobal Bhd (KL:CITAGLB) and Abu Dhabi Future Energy Company PJSC (Masdar), despite the signing of a memorandum of understanding (MOU) last year.

No progress on TNB-Masdar solar tie-up in Pahang, says Citaglobal

The government has obtained a final landmark victory at the Supreme Court of the Netherlands on Friday, which ruled in favour of Malaysia and dismissed the appeal filed by the Sulu claimants, according to Minister in the Prime Minister's Department (Law and Institutional Reform) Azalina Othman Said.

Dutch court sides with Malaysia, ends Sulu heirs’ claims against country — Azalina

Builder-cum-property developer Gadang Holdings Bhd (KL:GADANG) said its subsidiaries have been hit with a civil suit by their subcontractor, claiming for an amount of RM9.77 million in alleged outstanding payments for works done related to the Johor Bahru–Singapore Rapid Transit System (RTS) Link project.&nbsp;

China should explain widening discrepancies in its balance of payments data that are obscuring growing global imbalances, a top US economist said.

China should explain ‘enormous’ data gaps, ex-US official says

MyEG Services Bhd said it has teamed up with an agency of China's customs in a bid to secure the Royal Malaysian Customs's “single window” project.

The government e-service provider has signed a heads of agreement (HOA) with East Logistics Link Co Ltd (ELLC) to work exclusively together on securing and operating the project.

MyEG partners with China customs agency in bid to secure 'single window' project

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday.

FBM KLCI slips 0.70% to 1,653.12 on Sept 6, 2024

US employment increased less than expected in August, but a drop in the jobless rate to 4.2% suggested an orderly labour market slowdown continued and probably did not warrant a big interest rate cut from the Federal Reserve this month.

US job growth picks up moderately; unemployment rate falls to 4.2%

Former 1Malaysia Development Bhd (1MDB) board member Tan Sri Mohd Irwan Serigar Abdullah has failed in his bid to bring in six individuals as third parties in the US$6.59 billion (RM28.56 billion) lawsuit filed by the state-owned fund against him.

Irwan fails in attempt to bring in third parties in 1MDB's civil suit against him

KUALA LUMPUR (Sept 6): Malaysia could still benefit under either Donald Trump’s or Kamala Harris’&nbsp;policies due to trade diversion and China plus one (+1) reshoring, but a Trump presidency could pose greater volatility for global trade, said CIMB Securities.

Malaysia could still benefit under Trump’s or Harris’ policies due to trade diversion, China+1 reshoring — CIMB Securities

Digital Minister Gobind Singh Deo has called for the creation&nbsp;of an integrated&nbsp;online platform&nbsp;to streamline efforts from various agencies and strengthen Malaysia's cyber data security and personal data protection framework.

Gobind calls for integrated online mechanism to strengthen cybersecurity

Federal Reserve Bank of New York president John Williams said on Friday that a better balanced economy has opened the door to cutting rates, with the full course of action to be determined by how the economy performs.

“With the economy now in equipoise and inflation on a path to 2%, it is now appropriate to dial down the degree of restrictiveness in the stance of policy by reducing the target range for the federal funds rate,” Williams said in the text of a speech prepared for delivery before a gathering held at the Council on Foreign Relations in New York.

US Fed's Williams says time has arrived to start rate cuts

MyDigital Corporation&nbsp;and Bursa Malaysia Bhd have entered into a memorandum of collaboration (MOC) to empower public&nbsp;listed companies (PLCs) in Malaysia to achieve their environmental, social, and governance (ESG) goals through the adoption of digital technologies.