<div class=newsTextDataWrapInner><p>SINGAPORE (June 2): Hyflux announced it has been awarded a contract worth about US$48 million ($65 million) from the state-owned Saline Water Conversion Corporation in Saudi Arabia.</p></div>

<div class=newsTextDataWrapInner><p>The contract which was clinched through its wholly-owned subsidiary Hydrochem Saudi is for the design, build and supply a containerised desalination system with a total designed capacity of 30,000 cubic metres per day.</p></div>

<div class=newsTextDataWrapInner><p>The containerised desalination system will be located on the site of the existing Yanbu Desalination Plant on the Red Sea coast, 350 km north of Jeddah.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>It will be one of the largest of its kind and augment the desalination plant's capacity to ensure a continuous and reliable water supply to the industrial city of Yanbu and the nearby Medina region.</p></div>

<div class=newsTextDataWrapInner><p>Under the contract, Hyflux will build 10 modular containerised units, which will incorporate its Kristal ultrafiltration membrane technology for the pre- treatment phase of the seawater reverse osmosis desalination process.</p></div>

<div class=newsTextDataWrapInner><p>Each unit will have the capacity to desalinate 3,000 cubic metres of water per day.</p></div>

<div class=newsTextDataWrapInner><p>The project is expected to be completed in eight months.</p></div>

<div class=newsTextDataWrapInner><p>Hyflux last closed at 85.5 cents.</p></div>


SINGAPORE (June 2): Hyflux announced it has been awarded a contract worth about US$48 million ($65 million) from the state-owned Saline Water Conversion Corporation in Saudi Arabia.

The contract which was clinched through its wholly-owned subsidiary Hydrochem Saudi is for the design, bu...

Hyflux clinches $65 million contract to build desalination system in Saudi Arabia

Oil prices firmed slightly on Wednesday, with traders expecting Opec+ to announce an extension to supply cuts this week while heightened geopolitical tensions continue to dominate market sentiment.

Oil edges higher on imminent Opec+ decision and geopolitical turmoil

The UK’s Labour government will nationalise three train services currently run by the private sector, the start of a plan to take the industry back into public hands.

South Western Railways, which provides one of the biggest commuter services into London, will be the first franchise returned to state control when its contract ends in May.

UK’s Labour kicks off nationalisation with three train lines

The ¥9 trillion (US$60 billion or RM266.09 billion) proposed management buyout of Seven & i Holdings Co is set to include plans for an initial public offering (IPO) of its North American convenience stores and gasoline stations business to ease financing concerns, people with knowledge of the matter said.

Seven & i's US$60b management buyout to include US assets IPO

The world economy is set for steady growth in the next two years if resurgent protectionism does not derail a recovery in global trade, the Organisation for Economic Cooperation and Development said on Wednesday.

OECD warns of protectionism risk to global growth outlook

(Dec 4): Australian betting and gambling firm Tabcorp Holdings has laid off 10% of its workforce, around 200 roles, to cut down on costs and simplify its business, the Australian Financial Review on Wednesday, citing company spokesperson.

The Australian media outlet s...

Australian gambling firm Tabcorp lays off 10% workforce, AFR reports

Mitsubishi Corp said it had suffered a loss of more than US$90 million (RM400.77 million) in China, after uncovering suspected fraud by one of its copper traders.

Mitsubishi Corp loses US$90m in suspected copper fraud in China

Budget 2025: Redefining Malaysia's economic landscape

PARIS (Dec 4): French lawmakers will vote on Wednesday on no-confidence motions which are all but certain to oust the government, throwing the euro zone's second-biggest economy deeper into a lingering political crisis.

Barring a last-minute surprise, the French government of ...

French lawmakers set to vote on ousting Prime Minister Barnier

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

FBM KLCI up 0.44% to 1,614.09 on Dec 4, 2024

(Dec 4): Damac Group, backed by billionaire developer Hussain Sajwani, plans to invest about US$3 billion (RM13.35 billion) to build data centres across Southeast Asia, as the region becomes a hub for artificial intelligence (AI) and cloud services.

Dubai billionaire plans to build data centres across Asia

<p>A Singaporean couple wanted in connection with a corruption case in Singapore, and who had been on the run for 19 years, were arrested by the Malaysian Anti-Corruption Commission (MACC) on Tuesday.</p>


MACC arrests Singaporean couple who spent 19 years on the run

<p>Shares of Pentamaster Corporation Bhd (KL:PENTA) shot up as much as 22.6% to RM4.23 — a three-month&nbsp;high — after its 63.9%-owned subsidiary Pentamaster International Ltd voluntarily suspended trading of its shares on the Hong Kong Stock Exchange.&nbsp;</p>


Pentamaster shares jump 23% on trading halt of HK unit

<p>South Korean lawmakers on Wednesday called on President Yoon Suk Yeol to resign or face impeachment after he declared martial law only to reverse the move hours later, triggering a political crisis in Asia's fourth-largest economy.</p>

<p>The surprise declaration late on Tuesday ignited a standoff with parliament which rejected his attempt to ban political activity and censor the media, as armed troops forced their way into the National Assembly building in Seoul.</p>


South Korean president faces impeachment calls after martial law debacle

<p>KUALA LUMPUR (Dec 4): Prime Minister Datuk Seri Anwar Ibrahim announced that the signing of the Johor-Singapore Special Economic Zone (JS-SEZ) agreement on Dec 9 this year, has been postponed to likely January 2025.</p>


PM: Signing of Johor SEZ agreement with Singapore likely postponed to January next year

<p>KUALA LUMPUR (Dec 4): Tan Sri Halim Saad has been cleared by the Malaysian Anti-Corruption Commission (MACC) in a probe concerning a RM2.3 billion transaction involving a&nbsp;listed company in the 1990s, according to a statement&nbsp;released by the tycoon to the media on Wednesday.</p>


Halim Saad says he is cleared in MACC probe on RM2.3b transaction from over two decades ago

<p>Intel has started evaluating a handful of outsiders, including former board member Lip-Bu Tan, for the role of its chief executive officer, after the struggling American chipmaking icon&nbsp;ousted company veteran Pat Gelsinger, according to people familiar with the matter.</p>


Intel evaluating outsiders for CEO role, including M'sia-born ex-board member Lip-Bu Tan — Reuters

<p>The construction sector in Malaysia is set to achieve its strongest year since 2016, driven by a surge in project roll-outs from both the public and private sectors, analysts from RHB said.</p>


Construction sector on track for best year since 2016 — RHB

<p>In October, the government announced incentives to jump-start the special economic zone in Forest City. One particular announcement that caught attention was the zero tax rate for family offices, a term rarely heard of in Malaysia as the regulatory framework for such firms did not exist. Essentially, family offices handle investment and wealth management for wealthy families.</p>


Rise of the family office

<p>Shares of JF Technology Bhd (KL:JFTECH) rose as much as 12 sen or 22.64% from their four-year lows, on news that the company will begin US sales from January 2025 by leveraging the distribution network of US-based Ironwood Electronics.</p>


JF Tech shares break out from four-year lows on US sales prospects

<p>South Korean President Yoon Suk Yeol’s surprise decision to impose martial law in South Korea for the first time in more than 40 years — and then just as swiftly reverse course — sparked whiplash in the country’s foreign-traded assets and caught global markets off guard, at one point sending US Treasury yields lower as traders sought a haven from potential instability.&nbsp;</p>


South Korea’s whirlwind stint in martial law jolts markets

<p>Teleport, the logistics arm of Capital A Bhd (KL:CAPITALA), is expected to close its financial year ending Dec 31, 2024 (FY2024) with a record-high annual revenue of more than RM1 billion, according to its chief executive officer&nbsp;Pete Chareonwongsak.&nbsp;</p>


Capital A’s Teleport set for record FY2024 revenue as daily parcels volume soars

<p>Former prime minister Datuk Seri Najib Razak has denied ever telling then second finance minister Datuk Seri Ahmad Husni Hanadzlah to “not interfere” in matters of 1Malaysia Development Bhd (1MDB), refuting Husni’s claims that he had advised Najib against a US$1 billion joint venture (JV) with PetroSaudi International (PSI).</p>


1MDB-Tanore: Najib expresses disappointment in former second finance minister Husni's testimony against him

<p>Jailed former prime minister Datuk Seri Najib Razak denied on Wednesday he had any personal interests in the PetroSaudi International Ltd (PSI) joint venture (JV), maintaining that what was done in 2009 was for national interests.</p>


Najib: I don’t have personal interests in PSI deals, quizzed Bakke and board over opening of JV account before approval

<p>Global shares were mixed on Wednesday as markets digested political turmoil in South Korea, where martial law was imposed and then lifted hours later, and France, where an upcoming no-confidence vote also put the euro in the spotlight.</p>


Global stocks grapple with political turmoil in South Korea, France

<p>Analysts are looking past VS Industry Bhd’s (KL:VS) weak first-quarter results, amid expectations of new sales orders, on top of the RM1.2 billion worth of orders at hand currently.</p>


Analysts look past VS Industry’s 1Q miss on optimism towards new orders

<p>KUALA LUMPUR (Dec 4): The recent Swiss court decision against PetroSaudi International Ltd (PSI) executives over the 1Malaysia Development Bhd (1MDB) scandal clearly shows that former prime minister Datuk Seri Najib Razak was not implicated in the misappropriation of funds, the court heard on Wednesday.</p>


1MDB-Tanore: Najib cites Swiss judgement against PSI execs, says he is not implicated in fund misappropriation

<p>KUALA LUMPUR (Dec 4): Garment manufacturer Magni-Tech Industries Bhd’s (KL:MAGNI) shares jumped in early trade on Thursday, after its second quarterly results came largely within analysts’ expectations.</p>


Magni-Tech shares jump in early trade on special dividends after 2Q came within expectations

<p>Mitsubishi Corp&nbsp;said it had suffered a loss of more than US$90 million (RM400.77 million) in China, after uncovering suspected fraud by one of its copper traders.</p>


<p>Perusahaan Otomobil Kedua Sdn Bhd (Perodua) aims&nbsp;to produce 500 units per month of an electric vehicle (EV) called eMO-II starting next year.</p>


Perodua set to produce 500 units of eMO-II monthly, aims for cheapest EV

<p>Former prime minister Datuk Seri Najib Razak said that Datuk Shahrol Azral Ibrahim Halmi should be facing criminal charges like he is, instead of being the star prosecution witness in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial, as Shahrol, as the then chief executive officer of 1MDB, was the one who took steps to transfer US$700 million in 1MDB funds to a sham entity.</p>
