<div class=newsTextDataWrapInner><p>CYBERJAYA (July 24): iKHASAS Group has entered into a management agreement with the world’s largest hotel chain, Marriott International, to develop the new 5-star-rated Perhentian Marriott Resort &amp; Spa on Pulau Perhentian, Terengganu.</p></div>

<div class=newsTextDataWrapInner><p>The agreement marked iKHASAS Group’s expansion of its hospitality portfolio in line with the group’s business diversification strategies. The group was previously focused on construction and infrastructural projects.</p></div>

<div class=newsTextDataWrapInner><p>“Perhentian Marriott Resort &amp; Spa will be an upcoming 5-star iconic tourism spot in Terengganu. In this partnership with Marriott, we are raising the bar higher for another luxury holiday destination in Malaysia”, said iKHASAS Land Sdn Bhd executive chairman Tan Sri Syed Yusof Tun Syed Nasir, during the signing ceremony last week.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The first phase of the development will comprise 220 guest rooms complete with world-class recreation, convention and banquet facilities.</p></div>

<div class=newsTextDataWrapInner><p>“We are excited about this new project. The project is expected to start in the final quarter of this year and is targeted for operations in 2020”, said iKHASAS Group CEO Tan Chee Kian</p></div>

<div class=newsTextDataWrapInner><p>IKHASAS Group owns a 100-acre tract of pristine west coast land on Pulau Perhentian Kecil.</p></div>

<div class=newsTextDataWrapInner><p>The island is ranked 13th in the “100 Best Beaches around the World” in survey conducted by CNN.</p></div>

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CYBERJAYA (July 24): iKHASAS Group has entered into a management agreement with the world’s largest hotel chain, Marriott International, to develop the new 5-star-rated Perhentian Marriott Resort & Spa on Pulau Perhentian, Terengganu.

The agreement marked iKHASAS Group’s expansion o...

iKHASAS to develop 5-star Marriott resort on Pulau Perhentian 

Alam Maritim Resources Bhd (KL:ALAM) is aiming to exit its Practice Note 17 status by the first quarter of 2025, after having been classified as a PN17 company for over two years, according to group managing director and group chief executive officer Datuk Azmi Ahmad.

The integrated oil and gas services company has, in July this year, submitted a plan to regularise its PN17 status — typically a classification for financially-distressed companies — to the exchange regulator.

Alam Maritim aims to exit PN17 status by 1Q2025, seeks to expand subsea business

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

FBM KLCI up 0.42% to 1,608.75 on Dec 13, 2024

(Dec 13): Aydem Enerji Yatirimlari AS, a Turkish power generator and distributor, is preparing initial public offerings (IPOs) for two of its units in the first half of 2025.

Türkiye’s Aydem Group plans 2025 IPOs for power grid operators

Lotte Chemical Titan Holdings Bhd (KL:LCTITAN) has announced the temporary shutdown of one of its plants at the Pasir Gudang Complex in Johor, effective Dec 15, to mitigate losses stemming from a prolonged downturn in the petrochemical industry.

Lotte Chemical Titan shuts down operations temporarily in Pasir Gudang to cut losses

(Dec 13): Funds managed by Blackstone Inc have acquired a portfolio of eastern European warehouse properties in one of the largest real estate transactions on the continent this year, as it doubles down on logistics.

Blackstone’s warehouse spree adds €470 mil Czech deal — Bloomberg

The Asean-Gulf Cooperation Council (GCC)-China Summit, set to take place in Malaysia in 2025 during its Asean chairmanship, is expected to form an influential trilateral alliance and unlock immense potential for multilateral cooperation across sectors.

Asean-GCC-China: A 'trilateral alliance' with great potential — Mohamad

Grifols SA has included a term in its €1.3 billion (RM6.05 billion) private debt placement that would allow Brookfield Asset Management Ltd to refinance the deal early — a sign the Spanish drugmaker is leaving the door open for the private equity firm to make another approach.

Grifols keeps door open to Brookfield with special bond term

KLANG (Dec 13): A Lotus’s hypermarket in IJM Rimbayu, a township development by IJM Land Bhd in Telok Panglima Garang near here, opened on Friday. The hypermarket, which features its own mall, will be the largest superstore within a 10km radius.

Operating under a 30-year lease, the hype...

Lotus’s hypermarket in IJM Rimbayu opens on Friday

(Dec 13): China’s bond rally got a shot in the arm from a key economic meeting, where promises of interest rate cuts helped send the benchmark yield to a fresh record low.

The yield on 10-year government bonds slid below 1.8% for the first time in history, after officials vowed to cut p...

Chinese yields hit record low as leaders reinforce rate cut bets

The People’s Bank of China (PBOC) will improve how it manages exchange rate expectations and guard against any shocks next year, according to a senior bank official.

PBOC vows to guard against FX shocks, says senior official 

<p>Shares of Gamuda Bhd (KL:GAMUDA) notched a fresh all-time high on Friday, as analysts projected robust quarters ahead for the construction powerhouse, fuelled by contract wins and a strong project pipeline.</p>


Gamuda shares log new record high while analysts scramble to raise target prices

<p>Shares of Bermaz Auto Bhd (KL:BAUTO) slipped on Friday to their lowest in 15 months, after the automotive assembler reported a weaker-than-expected second financial quarter.</p>


Bermaz Auto shares fall to 15-month low after weaker-than-expected 2Q

<p>KUALA LUMPUR (Dec 13): Datuk Seri Najib Razak said on Friday that there has been no official denial from the Saudi palace or the embassy regarding his claim that the US$681 million (RM2.08 billion) he received in his personal accounts in 2013 were actually donations from the Saudi royal family, which supports his claim that the donations were genuine.</p>


No denial from Saudi palace supports my belief that the funds I received were legitimate donations, says Najib

<p>Macquarie Asset Management Pty Ltd has submitted a bid to buy Axiata Group Bhd’s (KL:AXIATA) telecommunications&nbsp;infrastructure unit, in a transaction that could value it at about US$3.5 billion (RM15.6 billion), according to people with knowledge of the matter.</p>


Macquarie bidding for Axiata's 63%-owned telecom infrastructure unit edotco — Bloomberg

<p>Denmark seeks to forge closer ties with Southeast Asian nations in a bid to become less dependent on China, Foreign Minister Lars Lokke Rasmussen said.</p>


Denmark moves to reduce reliance on China by boosting ties with Malaysia

<p>Shares of JF Technology Bhd (KL:JFTECH) surged as much as 13% to hit an intraday high of 79.5 sen in the morning trading session on Friday. The stock was one of the most actively traded on Bursa Malaysia.</p>


JF Technology shares surge as much as 13% in early trade, holding up strongly on US prospects

<p>Broadcom forecast quarterly revenue above Wall Street estimates on Thursday and predicted booming demand for its custom artificial intelligence chips in the next few years.</p>


Broadcom forecasts 1Q revenue above estimates on strong AI chip demand

<p>Xiaomi Corp&nbsp;is rapidly closing in on a new all-time-high share price, having cracked the crowded market for electric vehicles (EVs) in a repeat of its earlier success with smartphones.</p>


Xiaomi’s 103% rally puts EV dark horse on brink of stock record

<p>Asian shares dropped on Friday as a lack of details on Chinese stimulus disappointed investors, while the dollar was buoyed by the biggest weekly rise in longer-dated treasury yields in a year on receding US rate cut expectations for 2025.</p>


Asian shares weaken, dollar rises on US treasury sell-off

<p>Intel Corp chief financial officer Dave Zinsner said that a formal separation of the company’s factory and product-development divisions is an open question that will be decided by the chipmaker’s next leader.&nbsp;</p>


Intel says it’s an open question whether to break up company

<p>KUALA LUMPUR (Dec 13): Malaysia Airlines and Uzbekistan Airways said on Friday that they have reinstated their codesharing agreement in a partnership that would boost connectivity across Southeast Asia and Central Asia.</p>


Malaysia Airlines, Uzbekistan Airways reinstate codesharing agreement

<p>KUALA LUMPUR (Dec 13): Datuk Seri Najib Razak has questioned what effort&nbsp;the current government has put into locating&nbsp;fugitive businessman Low Taek Jho (Jho Low).</p>


What efforts have been made to bring Jho Low to justice, asks Najib

<p>KUALA LUMPUR (Dec 13): A group of government backbenchers has called on Bank Negara Malaysia (BNM) to limit any increase in insurance premiums to less than 10%, ahead of the interim measures that will be announced next week.</p>

<p>In a joint statement on Friday, the lawmakers justified the pr...

Lawmakers urge BNM to cap insurance premium increases at 10%

<p>KUALA LUMPUR (Dec 13): Petronas Chemicals Group Bhd&nbsp;chairman&nbsp;Datuk Dr Abdul Rahim Hashim&nbsp;will resign from his post, effective Jan 1, 2025.&nbsp;</p>


Petronas Chemicals group chairman Abdul Rahim Hashim to resign

<p>CIMB Bank Bhd will provide a comprehensive suite of solutions and services to fast-track the expansion of the clients of Shanghai Pudong Development Bank Co Ltd (SPDB) into Asean, following the execution of a letter of intent with the bank.</p>


CIMB to support expansion of Shanghai Pudong Development Bank's clients into Asean

<p>Canada is examining the use of export taxes on major commodities it exports to the US — including uranium, oil and potash — if incoming US President Donald Trump carries out his threat to impose broad tariffs.</p>


Canada could retaliate with export taxes on uranium, oil if Trump starts trade war — Bloomberg

<p>US&nbsp;President-elect Donald Trump's transition team is exploring ways to significantly reduce, merge, or even eliminate the top bank regulators in Washington, <em>The</em> <em>Wall Street Journal</em>&nbsp;(<em>WSJ</em>) reported on Thursday citing people familiar with the matter.</p>


Trump advisers seek to shrink or eliminate bank regulators, WSJ reports

<p>KUALA LUMPUR (Dec 13): The first transmission of green electricity with a capacity of 50 megawatts (MW) from Malaysia to Singapore began on Friday, according to the Ministry of Energy Transition and Water Transformation (Petra).</p>


Transmission of green electricity from Malaysia to Singapore begins today

<p>A rally that shot the world’s biggest technology stocks to all-time highs hit pause on Thursday, as Wall Street held off on big bets ahead of the US Federal Reserve’s (Fed) policy meeting next week.</p>


Wall Street puts rally on hold before Fed meeting

<p>KUALA LUMPUR (Dec 13): Yinson Holdings Bhd’s (KL:YINSON) net profit fell 19.4% to RM200 million in the third quarter ended Oct 31, 2024 (3QFY2025), from RM248 million a year ago, as it recorded lower revenue and higher administrative expenses, as well as finance costs.</p>
