<div class="mt-3 embed-right imgw-300"><img alt="" src="https://assets.theedgemarkets.com/pictures/Tan-Sri-Hasmah-Abdullah-ex-IRB-director-gen-svdoff-Sept14.2018-TEM-report_umw.com.my.jpg" />
<div class="thumb-cap">Tan Sri Hasmah Abdullah (Filepix credit: umw.com.my)</div>
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<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 2): UMW Holdings Bhd has&nbsp;on Friday (Sept 2) announced the retirement of Tan Sri Hasmah Abdullah as its senior independent non-executive director.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The former Inland Revenue Board (IRB) director-general also relinquished her position as the group’s chairman of nomination and remuneration committee, chairman of integrity and whistle blowing committee, chairman of ESOS committee, member of audit committee and member of risk management committee upon her retirement, the group said in a filing with the local bourse.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Hasmah, 71, &nbsp;is currently a member of the board of trustees of the Malaysian Tax Research Foundation, Dana Amal Jariah, Yayasan Allammiyyah, and Alzheimers Disease Foundation Malaysia.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>She was appointed to UMW’s board in 2013 as an independent non-executive director, according to the group’s annual report.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>UMW shares closed down one sen or 0.32% at RM3.07 on Friday, giving it a market capitalisation of RM3.59 billion.</p></div>


KUALA LUMPUR (Sept 2): UMW Holdings Bhd has on Friday (Sept 2) announced the retirement of Tan Sri Hasmah Abdullah as its senior independent non-executive director.

Former IRB director-general Hasmah Abdullah retires from UMW Holdings' board

Former New York mayor Michael Bloomberg's philanthropy arm said on Thursday it will provide funding to help cover the US contribution to the UN climate body's budget, filling a gap left by President Donald Trump.

The new Republican president announced after taking office on Monday that he would withdraw the US  from the Paris climate agreement and end the country's international climate funding.

Michael Bloomberg steps in to help fund UN climate body after Trump withdrawal

Unitrade Industries Bhd (KL:UNITRAD), a building material wholesaler and distributor, says its 51%-owned subsidiary Intergreen Metal Sdn Bhd is acquiring a controlling stake in metal recycling specialist Kien San Metal Sdn Bhd (KMSB) for RM42 million to expand its business to Sabah and Sarawak.

Unitrade Industries' unit buys controlling stake in metal recycler Kien San for RM42 mil

Oracle Corp has charged out of the gate in 2025, after its best year in a quarter-century. A plan unveiled with US President Donald Trump has intensified hopes that its cloud business will see a tailwind from artificial intelligence (AI).

Oracle takes run at cloud’s big three with Trump-backed AI pact

A day after his inauguration as US President, Donald Trump unveiled a US$100 billion (RM443.93 billion) venture to fund artificial intelligence (AI) infrastructure, backed by three of the biggest names in tech — OpenAI, SoftBank Group Corp and Oracle Corp. Then there was an Abu Dhabi-based firm that few had heard of: MGX.

The Emirati investment vehicle is overseen by one of the world’s most influential dealmakers — Sheikh Tahnoon bin Zayed Al Nahyan, who’s the United Arab Emirates’ (UAE) national security advisor, brother to the country’s president, and the man atop a US$1.5 trillion empire that spans everything from wealth funds to the region’s foremost AI firm, G42.

Abu Dhabi’s MGX helps bankroll Trump’s US$100 bil AI plan

ByteDance, the Chinese owner of TikTok, has earmarked over 150 billion yuan (US$20.64 billion or RM91.46 billion) in capital expenditure for this year, much of which will be centred on artificial intelligence (AI), two people briefed on the matter said.

TikTok owner ByteDance plans US$20b capex in 2025, mostly on AI, Reuters reports

J Sainsbury plc will cut 3,000 staff and close its remaining cafes, as Britain’s second-largest supermarket chain steps up a cost-saving drive after the government announced higher taxes on businesses.

The move will involve a restructuring of head office positions and a 20% reduction in senior management roles, Sainsbury said on Thursday.

Sainsbury’s to lay off 3,000 workers, close cafes in cost-savings measure

Volkswagen AG estimated it will take a €1.5 billion (US$1.6 billion or RM6.9 billion) hit this year from stricter European Union (EU) standards for car emissions that the manufacturer will struggle to meet.

Volkswagen sees €1.5b cost from EU emissions rules

Destini Bhd (KL:DESTINI) has managed to stay in the black for a second consecutive quarter as revenue more than doubled, mainly due to the delivery of trains and equipment by its mobility and aviation sectors, as well as cost-cutting measures undertaken by the company.

The engineering services provider reported a net profit of RM6.07 million for its second quarter ended Dec 31, 2024 (2QFY2025) compared with a net loss of RM3.93 million a year earlier.

Destini posts second straight quarterly profit in 2Q

Indebted property developer China Vanke Co Ltd is in advanced talks to sell a controlling stake in VX Logistics to Singaporean sovereign wealth fund GIC, a person with knowledge of the matter said.

China's Vanke in talks to sell controlling stake in logistics firm to GIC, Reuters reports

The chief executive of Norway's US$1.8 trillion (RM7.99 trillion) sovereign wealth fund, one of the world's largest investors, said on Thursday that inflationary pressure in the US posed a risk to financial markets this year.

Asked what were the biggest risks to markets in 2025, Nicolai Tangen said: "Inflationary pressure from what's going on in the US now."

Norway wealth fund CEO says US inflationary pressure a risk to markets in 2025

<p>KUALA LUMPUR (Jan 23): The High Court allowed the forfeiture of Ricky Wong Shee Kai’s luxury condominium unit at Four Seasons Place in Kuala Lumpur, as well as RM445,039.28 in the businessman’s personal fixed deposit account.</p>


High Court allows seizure of Ricky Wong's luxury condo unit, fixed deposit

<p>Café chain operator Oriental Kopi Holdings Bhd (KL:KOPI), which debuted on the ACE Market of Bursa Malaysia on Thursday, said the company is scaling up its product offerings in the fast-moving consumer goods (FMCG) segment, targeting the launch of over 20 products by year end.</p>


Oriental Kopi aims to launch over 20 fast-moving consumer goods by year end

<p>Gamuda Land, in collaboration with Meaningfull Life, is launching Malaysia’s first integrated eldercare facility within its twentyfive7 township, setting a new benchmark for multi-generational community living.</p>


Gamuda Land unveils Malaysia’s first integrated eldercare facility in twentyfive7

<p>Sime Darby Property Bhd (KL:SIMEPROP) has signed five anchor tenants for its upcoming KLGCC Mall, marking a significant milestone in the company's retail expansion strategy.</p>

<p>The tenants include Jaya Grocer, Serai Group’s flagship concept, ACE Hardware, Asia Ballet Academy, and the first HarborLand kids playland in Malaysia.</p>


Sime Darby Property secures five anchor tenants for KLGCC Mall

<p>BYD Co has beaten out Toyota Motor Corp to take the title of most popular car brand in Singapore for the first time.</p>


BYD outsells Toyota to becomes Singapore’s most popular car

<p>YTL Corp Bhd (KL:YTL) and YTL Power International Bhd (KL:YTLPOWR) have each proposed a bonus issue of free warrants, on the basis of one free warrant for every five shares held in the respective companies. The warrants are planned to be exercised at a discount to the share prices of each company —&nbsp;at 37% discount for YTL Corp, and a 39.5% discount for YTL Power based on their closing prices on Thursday&nbsp;— bourse filings showed.</p>


YTL Corp, YTL Power plan free warrants; exercise prices at discount to market prices

<p>KUALA LUMPUR (Jan 23): KIP Real Estate Investment Trust (KL:KIPREIT) unitholders have approved the acquisition of four industrial properties associated to its largest shareholder Datuk Eddie Ong Choo Meng, for a total purchase price of RM98.3 million.</p>


KIP REIT unitholders approve RM98m industrial properties buy from Eddie Ong

<p>Kepala Batas Member of Parliament Dr Siti Mastura Muhammad has settled the payment of RM830,034.75 in damages and legal costs (including interest) to three DAP stalwarts.</p>


PAS MP Siti Mastura settles payment of RM830k to Kit Siang, Guan Eng and Teresa Kok pending defamation appeal

<p>The share price of Gadang Holdings Bhd (KL:GADANG) may rally on the back of strong earnings growth, following a better-than-expected quarter, TA Securities said.</p>


Gadang shares may rally on strong earnings growth, says TA Securities in upgrade to 'buy'

<p>China announced plans on Thursday to channel hundreds of billions of yuan annually into shares from state-owned insurers, in the government's latest effort to support equity markets.</p>


China pushes insurers to invest billions in latest move to support market

<p>KUALA LUMPUR (Jan 23): Aeon Co (M) Bhd (KL:AEON) is set to deliver another strong performance in the final quarter of the financial year 2024, with a projected net profit of RM57.3 million, according to CIMB Securities.</p>


Aeon poised for strong 4Q performance on festive season, reopening of stores — CIMB Securities

<p>(Jan 23):&nbsp;Saudi Arabian Crown Prince Mohammed bin Salman told President Donald Trump that the kingdom wants to put US$600 billion (RM2.66 trillion)&nbsp;into expanded investment and trade with the United States over the next four years, the Saudi state news agency said early on Thursday.</p>


Saudi Arabia plans US$600 bil in new US investment, trade over four years

<p>KUALA LUMPUR (Jan 23): KIP Real Estate Investment Trust (KL:KIPREIT) said it remains in acquisition mode, aiming to expand its portfolio with more retail and industrial properties.</p>


KIP REIT remains in acquisition mode, says CEO

<p>Malaysian Resources Corp Bhd (KL:MRCB) is partnering Ipoh Sentral Sdn Bhd (ISSB) to jointly develop the Ipoh Sentral project, with an estimated gross development value of RM6.25 billion.</p>


MRCB to jointly undertake RM6.25b GDV Ipoh Sentral development project

<p>Binastra Corporation Bhd (KL:BNASTRA) may introduce a dividend payout earlier than expected in FY2025, according to Phillip Capital.</p>


Binastra could issue dividend as early as FY2025 — Phillip Capital

<p>Prime Minister Datuk Seri Anwar Ibrahim said the government is working on a more targeted approach for the provision of toll exemptions during festive seasons.</p>


Govt working on targeted toll exemptions for festive seasons, to benefit only B40, M40 — PM

<p>KUALA LUMPUR (Jan 23): Westports Holdings Bhd (KL:WSPRTS) reported a record-high net profit of RM256.7 million for the fourth quarter ended Dec 31, 2024 (4QFY2024), a 25% increase from RM206.1 million a year ago, driven by higher container revenue.</p>


Westports books record revenue and profit for FY2024, declares 10.86 sen dividend

<p>Former prime minister Datuk Seri Najib Razak on Thursday sought to portray a contrast between his leadership style with the 'work-in-silo' culture in 1Malaysia Development Bhd (1MDB).</p>


1MDB-Tanore trial: Work-in-silo not my leadership style, says Najib

<p>The Securities Commission Malaysia (SC) has issued a statement to give the assurance that&nbsp;it is closely monitoring recent takeover activities in the Malaysian market&nbsp;to ensure compliance with relevant regulations, and to safeguard the integrity of the capital market, citing recent interest in such matters.</p>


SC says it is keeping close watch on takeovers amid public interest in MAHB deal

<p>Singapore has charged Wang Junjie, the former director of a local corporate service provider linked to individuals caught up in the city-state’s record S$3 billion (US$2.2 billion or RM9.7 billion) money-laundering case.</p>
