<div class=newsTextDataWrapInner>SINGAPORE (Aug 11): Sembcorp Industries and Sembcorp Marine (SembMarine) jointly announced today that the recapitalisation of SembMarine through a proposed S$2.1 billion (RM6.43 billion) renounceable rights issue, as well as the proposed demerger between the two companies via a distribution in specie of SembCorp’s stake to SCI shareholders, had been approved by shareholders of both companies in their respective extraordinary general meetings (EGMs) earlier in the day.</div>

<div class=newsTextDataWrapInner>An overwhelming 99.67% of Sembcorp Industries' shareholders voted for the proposed distribution, while 98.76% of SembMarine’s shareholders voted for the proposed renounceable underwritten rights issue.</div>

<div class=newsTextDataWrapInner>About 87.72% of SembMarine’s shareholders also voted for the whitewash resolution in relation to the Temasek Concert Party Group <a href="https://www.theedgesingapore.com/news/ma/its-official-sembcorp-industries-and-sembcorp-marine-will-decouple" target="_blank">... (click on link for full story on theedgesingapore.com).</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

Sembcorp Industries and Sembcorp Marine (SembMarine) jointly announced today that the recapitalisation of SembMarine through a proposed S$2.1 billion (RM6.43 billion) renounceable rights issue, as well as the proposed demerger between the two companies via a distribution in specie of SembCorp’s stake to SCI shareholders, had been approved by shareholders of both companies in their respective extraordinary general meetings (EGMs) earlier in the day.

It's official: Sembcorp Industries and Sembcorp Marine will decouple

Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended mostly lower on Thursday in line with the weaker soybean oil performance on the Chicago Board of Trade (CBOT), said palm oil trader David Ng.

CPO futures close mostly lower in sync with weaker soybean oil prices

Police have recorded the statement of blogger Wan Muhammad Azri Wan Deris, better known as Papagomo, regarding his allegedly defamatory and insulting remarks against the Inspector-General of Police and the security forces.

Inspector General of Police Tan Sri Razarudin Husain said Wan Muhammad Azri had his statement recorded at 3pm Thursday at the Setapak police station.

Police record Papagomo's statement over defamatory remarks against IGP, PDRM

A coalition of non-governmental organisations (NGOs) on Thursday called on Prime Minister Datuk Seri Anwar Ibrahim to announce a clear timeline for the separation of the public prosecution function from the Attorney General’s Chambers (AGC).

NGOs urge PM to announce clear timeline for separation of AG-PP's powers after Rosmah's acquittal 

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.

MRCB, Pentamaster, UEM Sunrise, Mah Sing, S P Setia, Mynews, UWC, Aeon Credit, United Malacca, Vestland, Uzma, Bonia, Catcha Digital, Southern Steel 

The US Department of Commerce has recently asked Nvidia to look into how the company's products ended up in China over the past year, The Information reported on Thursday, citing a person close to the department.

US asks Nvidia to investigate how its chips ended up in China — report 

As the Russian president, Vladimir Putin, held his carefully stage-managed annual phone-in and press conference to answer questions from journalists and ordinary Russians, EU leaders were hosting Ukraine’s president Volodymyr Zelensky in Brussels at their final meeting of the year. Unsurprisingly, the war in Ukraine loomed large at both events.

Ukraine war: As 2025 approaches, Kyiv is left with few good options and allies in a Trump 2.0 world

The US Congress has two days as of Thursday to avert a partial government shutdown after President-elect Donald Trump rejected a bipartisan deal on federal spending and demanded lawmakers address the nation's debt ceiling before he takes office next month.

US Congress has two days to avert shutdown after Trump rejects spending bill

The script for the biblical epic 'Mary', which tells the story of the Nativity from the perspective of Mary of Nazareth, languished in Hollywood for some 15 years before entering production.

As the independent film approached completion this September, it attracted interest from three major Hollywood studios and streaming giant Netflix, which emerged as the global distributor and released the movie this month.

Hollywood embraces God and the 'cowboy curious' to broaden audience

The third meeting of the third session of the 15th Parliamen adjourned on Thursday after sitting for 12 days since Dec 2, with 26 bills passed.

Dewan Negara adjourns after passing 26 bills in 12 days

Wall Street's main indexes regained some ground on Thursday, a day after the Federal Reserve's projections of fewer-than-expected interest rate cuts and higher inflation next year wrong-footed some investors and pummelled US stocks.

Wall Street bounces back after Fed's hawkish cut triggers sell-off

Indonesia will increase its export levy for crude palm oil (CPO) to 10% from the current 7.5% to finance higher biodiesel subsidies, its chief economic minister said on Thursday.

Indonesia to hike crude palm oil export levy to 10%

Mynews Holdings Bhd (KL:MYNEWS) reported a significant jump in net profit to RM3.76 million for the fourth quarter ended Oct 31, 2024 (4QFY2024), a nearly fourfold increase compared to RM947,000 in the same period last year. This marks the fifth consecutive profitable quarter for the convenience store operator.

Mynews plans more new stores after 4Q profit jumps nearly fourfold as sales climb

Chai Woon Yun, daughter of Aset Kayamas founder Tan Sri Datuk Chai Kin Kong, has become the largest shareholder of Kanger International Bhd through a private placement.

Daughter of Aset Kayamas founder is now Kanger’s largest shareholder

UWC Bhd's (KL:UWC) net profit rose 49.2% to RM6.5 million in the first quarter ended Oct 31, 2024 (1QFY2025) from RM4.35 million a year ago, lifted by increasing orders from the semiconductor industry.&nbsp;

Contributions from its acquired subsidiaries, MCE Technologies Sdn Bhd (MCET) and MCT (Thailand) Co Ltd, also add to the earnings.

UWC's net profit jumps 49% as revenue nearly doubles on increased semiconductor orders 

Malaysian Resources Corp Bhd (KL:MRCB) has confirmed it has withdrawn from a Berjaya-led consortium which is bidding for the multi-billion-ringgit Kuala Lumpur-Singapore high-speed rail (HSR) project.

In a filing, MRCB said the group issued a notice of termination to consortium partner Berjaya Rail Sdn Bhd to terminate the teaming agreement for the submission of a non-binding conceptual proposal to MyHSR Corporation Sdn Bhd in relation to the project.

MRCB confirms withdrawal from Berjaya-led HSR consortium

The US Federal Reserve’s (US Fed) intent to adopt a slower pace of interest rate easing in 2025 is expected to prompt slight downward pressure on the domestic market, analysts said.

US Fed’s hawkish pivot ‘slightly negative’ for Malaysian market, analysts say

There is noticeable shift towards local fast-moving consumer goods amid prolonged boycott of international brands following the Israel-Gaza conflict, according to Hong Leong Investment Bank (HLIB).

HLIB: Consumer trends shift to local fast-moving consumer goods as boycotts persist

Pentamaster Corp Bhd (KL:PENTA) on Thursday proposed to privatise its 63.9%-owned Hong Kong-listed Pentamaster International Ltd (PIL) with a partner in an exercise that would raise its stake to 71%.

Pentamaster, partner to privatise HK-listed unit; confirms The Edge’s report

Smile-Link Healthcare Global Bhd (KL:SMILE), a LEAP Market-listed dental services provider, said its major shareholder has proposed to remove its external auditors, Messrs HLB Ler Lum Chew, following significant delays in the company's financial reporting, which have led to trading suspensions and regulatory scrutiny.

Smile-Link major shareholder seeks removal of external auditor amid financial reporting delays

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Wall Street's main indexes regained some ground on Thursday, a day after the Federal Reserve's projections of fewer-than-expected interest rate cuts and higher inflation next year wrong-footed some investors and pummelled US stocks.

KUALA LUMPUR (Dec 19): Malaysia’s e-commerce income grew by 4% to RM918.2 billion in the first nine months of 2024 (9M2024), with the highest surge recorded in the second quarter (2Q), amounting to RM309.8 billion, the Department of Statistics Malaysia (DOSM) said.

Malaysia’s 9M2024 e-commerce income reaches RM918.2b — DOSM

KUALA LUMPUR (Dec 19): Mechanical and electrical (M&amp;E) engineering services solutions provider&nbsp;ES Sunlogy Bhd has entered into an underwriting agreement with M&amp;A Securities Sdn Bhd for ES Sunlogy’s&nbsp;upcoming initial public offering (IPO) on the ACE Market of Bursa Malaysia.

ES Sunlogy signs underwriting agreement with M&A Securities for IPO exercise

Britain's water regulator said it would allow bills to rise by just over a third in the next five years to fund a higher level of investment than originally planned, with the aim of fixing the country's broken water sector.

UK water bills to rise by 36% to help fix broken sector

PUTRAJAYA (Dec 19): Turkmenistan and Malaysia are poised to strengthen bilateral economic cooperation, focusing on energy, trade, and innovation, said Turkmenistan President Serdar Berdimuhamedow on Thursday.

Malaysia, Turkmenistan to strengthen ties, Petronas central to relationship

Aeon Credit Service (M) Bhd (KL:AEONCR) reported a 27.44% drop in net profit for the third quarter ended Nov 30, 2024 (3QFY2025), primarily dragged by a share of its associate's loss and increased interest expense.

Aeon Credit’s 3Q profit down 27% on associate’s loss, higher interest expense

Central banks across Asia face a difficult decision after the Federal Reserve’s hawkish cut — stage a costly fight back against dollar strength, or stand by and watch their currencies falter.

Asian central banks start pushback as Fed shift hits currencies

Fashion retailer Bonia Corp Bhd (KL:BONIA) is venturing into the health and wellness market with a joint investment in fitness centre operator, Macroverse Sdn Bhd (MVC).

Bonia signed a shareholders’ agreement with Peak Physique Health &amp; Fitness Sdn Bhd (PPH) on Thursday to jointly subscribe to three million new shares in MVC, representing its entire equity. Bonia will hold a 50% stake, valued at RM1.8 million, financed by internal funds.

Fashion retailer Bonia ventures into health and wellness with investment in Macroverse

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.

United Malacca Bhd's (KL:UMCCA) net profit more than doubled for its second quarter of August-October, driven by higher average crude palm oil (CPO) and palm kernel (PK) prices.