<div class=newsTextDataWrapInner>Hock Seng Lee, Larsen &amp; Toubro consortium gets RM91m Sarawak Energy contract&nbsp; 
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Hock Seng Lee, Larsen & Toubro consortium gets RM91m Sarawak Energy contract 
 
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Hock Seng Lee, Larsen & Toubro consortium gets RM91m Sarawak Energy  contract 

KUALA LUMPUR (March 21):  Sarawak Consolidated Industries Bhd (KL:SCIB) has terminated its RM30.75 million engineering, procurement, construction and commissioning contract with Ennova Sdn Bhd due to non-payment for completed works.

In a bourse filing on Friday, SCIB said the notic...

SCIB terminates engineering contract over outstanding payment

Alliance Bank Malaysia Bhd (KL:ABMB) is planning to raise up to RM600 million through a rights issue exercise, primarily to fund its general banking, financing, and investing activities.

Alliance Bank to raise up to RM600 mil via renounceable rights issue

Crest Builder Holdings Bhd (KL:CRESBLD) has proposed a private placement of up to 30% of its share base to raise RM24.3 million to pay for borrowings and purchase building materials.

Crest Builder plans private placement to raise RM24.3m for debt repayment, working capital

Capital A Bhd (KL:CAPITALA) said the High Court has confirmed its issued share capital reduction and repayment, paving the way for the low-cost airline’s proposed distribution.

Capital A to proceed with distribution plans after court confirms share capital reduction

FSBM Holdings Bhd (KL:FSBM) has signed its sixth partnership for 2025, entering into two memorandums of collaboration (MOCs) with Dataprep Holdings Bhd (KL:DATAPRP) to enhance cybersecurity, e-money, and software services.

FSBM partners with Dataprep to enhance cybersecurity, e-money, and software services

Farmiera Bhd, which is in the poultry farming and poultry processing business, is seeking to list on the ACE Market to raise funds for its capital expenditure and expansion.

Poultry farmer Farmiera seeks ACE Market IPO

Russia’s central bank held borrowing costs at a historic high for a third meeting, again signaling that it’s prepared to tighten monetary policy further to fight persistent inflation.

The Bank of Russia kept the the key interest rate at 21% on Friday. The move was forecast by all economists surveyed by Bloomberg.

Russia holds rate at record high of 21% to combat price pressures

Malaysia will demonstrate its leadership in sustainable and innovative plastics at K 2025, the world’s premier trade fair for the plastics and rubber industry, taking place from Oct 8 to 15, 2025, in Dusseldorf, Germany.

Malaysia to showcase green rubber, smart plastics innovations at K 2025 in Germany

NEWS: LSH Capital talks plans for Menara KL

PKR vice-president Chang Lih Kang announced on Friday that he will defend his position in the party elections on May 24.

The science, technology and innovation minister, in a Facebook post, said he needs the support of all party members, especially at the grassroots level, to strengthen PKR for a better future for Malaysia.

Chang to defend PKR vice-president post

Genting Bhd (KL:GENTING) has agreed to pay a fine of US$10.5 million (RM46.41 million) to the Nevada Gaming Commission as part of a settlement for a complaint against its Las Vegas resort.

Genting agrees to RM46m fine as part of settlement for complaint against Las Vegas resort  

Shares of Lim Seong Hai Capital Bhd (KL:LSH) fell 17% on its first-ever trades on the ACE Market after the construction firm raised RM168.08 million as part of its transfer from the LEAP Market.

Lim Seong Hai Capital opens 17% lower on ACE Market debut

Malaysia Airlines’ parent Malaysia Aviation Group Bhd (MAG) is acquiring another&nbsp;30 new Boeing aircraft&nbsp;for the second stage of its fleet renewal strategy.

Malaysia Airlines’ parent opts for 30 new Boeing aircraft for second stage of fleet renewal

Top Glove Corporation Bhd (KL:TOPGLOV) will likely turn in smaller-than-expected profits for fiscal 2025, analysts said while flagging rising risk from Chinese rivals.

Top Glove faces rising risks from Chinese rivals, analysts flag after weaker-than-expected 2Q

Nestlé (Malaysia) Bhd (KL:NESTLE) on Friday broke ground for a RM250 million integrated logistics hub in Port Klang.

The facility is designed to function as a regional hub, facilitating product exports to over 60 countries and sourcing imported raw materials, Nestle Malaysia said in a statement. The hub is expected to be fully operational by the first quarter of 2026 and create over 200 new jobs, it said.

Nestlé Malaysia breaks ground for RM250m regional logistics hub in Port Klang

The Bank of Thailand, which has long resisted interest-rate cuts despite immense political pressure, may end up having to embark on the region’s most aggressive easing cycle as a sluggish economy takes a turn for the worse, according to analysts.

Thailand may yet embark on Southeast Asia's most aggressive rate cuts

GX Bank Bhd, Malaysia’s first digital bank, commands the largest share of customer deposits among operational digital banks with RM2.16 billion deposits as of September 2024, according to RAM Ratings.

GXBank tops digital banking sector deposits with RM2.16 bil as of September 2024 — RAM Ratings

Boeing Global president Brendan Nelson has announced that the company will increase its Malaysian workforce by 20% over the next two years, reinforcing its commitment to the country’s aerospace industry.

Boeing to increase Malaysian workforce by 20% as part of expanded partnership with Malaysia Airlines

The federal government announced on Friday it will distribute cash totalling RM900 million to eligible serving civil servants and public pensioners under a special Aidilfitri Financial Assistance programme.

Govt to hand out RM900 mil cash to civil servants, public retirees for Aidilfitri

South Korean chemicals companies are racing to tap new markets after racking up hundreds of millions of dollars in losses in the face of a deluge of capacity from China, their biggest market.

South Korean plastics giants struggle as China becomes a rival

Lembaga Tabung Haji declared a profit distribution rate of 3.25% after zakat for the financial year ended Dec 31, 2024 (FY2024), breaking its previous four-year streak of declaring 3.1%.

Tabung Haji declares 3.25% profit distribution for FY2024

Read more in the March 24 edition of The Edge Malaysia Weekly.

Trumpianomics: The Art of Coercion

MSB Global Group Bhd, an aftermarket automotive parts and components distributor, on Friday launched its initial public offering (IPO) that could raise up to RM41.4 million from the ACE Market.

Autopart distributor MSB Global sets ACE Market IPO price at 20 sen per share

DRB-Hicom Bhd (KL:DRBHCOM) has been spared from a potential RM246.25 million tax bill after the Inland Revenue Board (IRB) ruled in favour of the automotive-to-banking conglomerate’s appeal, reversing its decision to classify the gain from the disposal of its long-held stake in Alam Flora Sdn Bhd as income.

DRB-Hicom spared RM246 mil tax bill after IRB rules in favour of appeal

Malaysia’s headline inflation slowed in February 2025 as food prices stabilised while housing and utilities costs moderated, according to official data released on Friday.

Malaysia's February inflation slows as housing, utilities costs moderate, official data show

The Attorney General's Chambers (AGC) has applied to strike out the government, along with Prime Minister Datuk Seri Anwar Ibrahim, as parties in Datuk Seri Mukhriz Mahathir's ongoing legal action over additional taxes and subsequent penalty of about RM5 million.

Anwar, govt seek to be removed from Mukhriz's legal challenge over RM5 mil additional taxes

Oil advanced after the US ramped up measures to hobble Iran’s crude exports, increasing pressure on Tehran amid a push for a new nuclear accord.

Oil advances as US ramps up sanctions against Iranian crude

For months, President Prabowo Subianto’s moves to chip away at Indonesia’s long-established economic guardrails have stoked anxiety in markets. This week’s sudden rout suggests investor patience is wearing thin.

Prabowo faces investor revolt over Indonesia’s economic path

A pro-Beijing newspaper has called on CK Hutchison Holdings Ltd to pull out from an agreement to sell its ports on the Panama Canal to a group led by BlackRock Inc, marking an escalation of a pressure campaign on billionaire Li Ka-shing over the deal.

Pro-Beijing paper urges Li Ka-shing to scrap Panama port sale

Britain's Heathrow Airport was shut on Friday after a huge fire at a nearby electrical substation knocked out its power, disrupting flight schedules around the world.