<div class=newsTextDataWrapInner>SINGAPORE (Oct 18): Two of Indonesia's largest companies have come to the rescue of Hyflux from its creditors.</div>

<div class=newsTextDataWrapInner>SM Investments, a consortium made up of The Salim Group and the Medco Group, will invest S$530 million in the debt-ridden water-treatment and power company.</div>

<div class=newsTextDataWrapInner>Under a scheme of arrangement, SM Investments will acquire an enlarged 60% stake in Hyflux for S$400 million, while granting it a shareholder’s loan of S$130 million.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Additionally, SM Investments will grant Hyflux a S$30 million loan for the interim working capital requirement of the company for<a href="https://www.theedgesingapore.com/hyflux-gets-530-mil-lifeline-indonesias-salim-and-medco-groups" target="_blank">...(click on link for full story on theedgesingapore.com)</a> 
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SINGAPORE (Oct 18): Two of Indonesia's largest companies have come to the rescue of Hyflux from its creditors.

SM Investments, a consortium made up of The Salim Group and the Medco Group, will invest S$530 million in the debt-ridden water-treatment and power company.

Under a s...

Hyflux gets S$530 mil lifeline from Indonesia's Salim and Medco groups

During a whirlwind few hours in South Korean politics, President Yoon Suk Yeol placed the country under martial law on Dec 3, 2024, only to lift it just a short while later.

It marked the first time that a South Korean leader has imposed the emergency power since 1979. And although short-lived, the measure provoked concerns of the country backsliding into authoritarian rule.

What short-lived martial law says about South Korean democracy and the position of President Yoon

The Sexual Offences Against Children and Evidence of Child Witnesses (SOAC & ECWA) Advocacy Group has demanded the immediate withdrawal or postponement of the proposed amendments to the Communications and Multimedia Act (CMA), arguing that the current draft “misses the mark” in protecting children.

In a statement on Wednesday, the group flagged that “we are unable to support the CMA amendments tabled by the government, and we urge MPs to push for a postponement of the debate on the bill, or a withdrawal of the bill, so that thorough consultation can be conducted and improvements can be made to the bill”.

Child rights group slam multimedia law amendments for failing to protect children

KUALA LUMPUR (Dec 4): 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 (CEO) Pete Chareonwongsak.

Capital A’s Teleport foresees record topline in FY2024 as daily parcels volume doubles from 1H

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

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

LGMS Bhd (KL:LGMS) is on an aggressive hiring spree that has seen it raise its team of cybersecurity specialists by more than 40% in less than a year as it looks to better position itself to take a larger slice of the growing cybersecurity business. This is despite a short-term dent to the group’...

LGMS endures ‘growing pains’ in quest for organic long-term gains

Umno has not received any applications from former members seeking to rejoin the party, said its president Datuk Seri Dr Ahmad Zahid Hamidi.

The deputy prime minister said if there are applications, the matter will be presented at the next Umno Supreme Council meeting.

No applications yet from ex-Umno members to rejoin, says Zahid

South Korean President Yoon Suk Yeol, who vowed to make his country a "global pivotal state", faced immediate international diplomatic fallout on Wednesday after his botched attempt to impose martial law.

Yoon declared martial law in a live TV address late on Tuesday night, only to reverse course six hours later after parliament defied police and special forces cordons to vote to block the move.

South Korea martial law turmoil sparks international backlash

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.

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

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).

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

The government has cancelled five of 12 outstanding 'River of Life' projects following a review, as they are deemed "less significant" towards achieving the programme’s objectives, said Minister at the Prime Minister’s Department (Federal Territories) Zaliha Mustafa.

Five of 12 pending River of Life projects scrapped, says minister

SEOUL (Dec 4): South&nbsp;Korean lawmakers on Wednesday&nbsp;called for the impeachment&nbsp;of President Yoon Suk Yeol, after he declared martial law only to reverse the move hours later, triggering the biggest political crisis in decades in Asia's fourth-largest economy.

South Korean lawmakers call to impeach President Yoon after back-track on martial law

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;

Pentamaster shares jump 23% on trading halt of HK unit

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.

Halim Saad says he has been cleared by MACC concerning RM2.3b transaction probe from over two decades ago

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.

MACC arrests Singaporean couple who spent 19 years on the run

KUALA LUMPUR (Dec 4): A planned signing between&nbsp;Malaysia&nbsp;and Singapore of a deal to create a special economic zone (SEZ) in the southern&nbsp;Malaysian state&nbsp;of Johor will likely be postponed to January next year,&nbsp;Prime Minister Datuk Seri Anwar Ibrahim said on Wednesday.

Anwar: Signing of Johor SEZ deal with Singapore likely postponed to January 2025

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.

Rise of the family office

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;

South Korea’s whirlwind stint in martial law jolts markets

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.

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

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.

Construction sector on track for best year since 2016 — RHB

Asian equities stumbled on Wednesday, while currencies were volatile, as traders scrambled to contend with the political storm in South Korea, where martial law was imposed and subsequently lifted hours later.

Asian stocks slip, rattled by South Korean political unrest

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.

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

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.

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

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.

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

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).

Mitsubishi Corp&nbsp;has suffered a loss of more than US$90 million (RM402.10 million) in China after uncovering suspected fraud by one of its copper traders, according to people familiar with the matter.

Mitsubishi Corp lost US$90m in suspected copper fraud in China — Bloomberg

Malaysians residing in or visiting South Korea are advised to exercise caution, and stay informed by adhering to any guidance issued by local authorities, said the Foreign Ministry.

M'sians in S Korea advised to exercise caution, register presence via e-Konsular, despite lifting of martial law

We refer to the Bill to amend the Communications and Multimedia Act 1998 that was tabled for a first reading in the Dewan Rakyat on Monday.

New amendments to Communications and Multimedia Act a backdoor attempt to legislate fake news law, utter betrayal of promise to repeal — Lawyers for Liberty

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.

A rally that drove stocks to a series of all-time highs showed signs of exhaustion, with investors awaiting this week’s key jobs report and Jerome Powell’s remarks for clues on whether Federal Reserve (Fed) officials will cut interest rates in December.

Equities struggled to make much headway, following an over US$11 trillion (RM49.14 trillion) surge in the US equity benchmark this year that sent the gauge near overbought levels. With a negligible gain on Tuesday, the index notched its 55th record in 2024. Positioning in S&amp;P 500 futures is&nbsp;“completely one-sided”, according to Citigroup Inc’s Chris Montagu.

S&P 500 ekes out gain to notch 55th record in 2024

A slew of automotive companies across Europe have announced plant closures and big layoffs recently as they struggle with weak demand, high costs, competition from China and a slower-than-expected transition to electric vehicles.