<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

HANOI (Nov 15): Chinese defence firms will participate in an arms fair in Vietnam next month, a Vietnamese defence official said on Friday, a possible sign of deepening military ties between the two neighbours.

Vietnam will hold an international defence exposition in Hanoi from Dec...

Chinese defence firms to attend Vietnam arms fair as ties deepen

BERLIN (Nov 14): Germany needs to step up its role in defence if the U.S. is to focus less on Europe, defence minister Boris Pistorius said on Thursday, adding it will take a modification of the country's debt brake to raise the necessary money.

He said it did not make sense to pre...

Germany needs to step up its role in defence as U.S. may do less in Europe, minister says

Marriott International informed employees this week about a widespread restructuring that may result in hundreds of employees exiting the company, sources within the company told Skift.

Marriott starts to lay off corporate employees — report

(Nov 15): Singapore’s sovereign wealth fund GIC Pte Ltd believes in the long-term potential of the US and will continue to invest there, even as geopolitical rivalries heat up, according to former prime minister and GIC chairman Lee Hsien Loong.

Singapore’s GIC to keep investing in US, chairman Lee Hsien Loong says

Sime Darby Property (KL:SIMEPROP) will launch its latest condominium development named Kanopi Residences in its 6.5-acre City of Elmina township in Shah Alam on Nov 23.

Sime Darby Property to launch City of Elmina’s first high-rise Kanopi Residences on Nov 23

(Nov 15): Stablecoin payments company BVNK is in early talks with investors to raise a new funding round, as excitement over its corner of the crypto market builds, following a landmark acquisition by Stripe Inc.

Stablecoin start-up BVNK seeks funding after major deal by Stripe

NEWS: APHM launches 2024 factbook

Asian currencies found some support on Friday after a volatile week, with the Singapore dollar and Thai baht creeping higher, while Malaysia's ringgit held its ground despite a slowdown in growth in the third quarter.

Asian currencies find support after volatile week, ringgit steady

US President-Elect Donald Trump said on Thursday that a government efficiency panel headed up by billionaire Tesla CEO Elon Musk will issue reports in its work to streamline the US government.

Trump says Musk's efficiency panel will issue reports

KUALA LUMPUR (Nov 15): The Malaysian Meteorological Department (MetMalaysia) has issued an alert-level continuous rain warning for the East Coast and Johor from Nov 19 to 23, 2024.

Continuous rain expected in East Coast, Johor next week — MetMalaysia

WASHINGTON (Nov 14): No major US trading partner manipulated its currency in the year to June 30, the Treasury Department said on Thursday in the Biden administration's final semi-annual currency report before turning over policing of foreign exchange practices to President-elect&nbsp;Donald Trump.

US Treasury finds no currency manipulation by major trading partners, drops Malaysia off its monitoring list

KUALA LUMPUR (Nov 15): A consortium led by Khazanah Nasional Bhd and Employees Provident Fund on Friday made a formal takeover offer for Malaysia Airports Holdings Bhd (KL:AIRPORT) at RM11 per share, after securing relevant regulatory approvals.&nbsp;

Khazanah-EPF consortium launches formal offer for MAHB after receiving nod from regulators

The proposed merger between Bumi Armada Bhd (KL:ARMADA) and MISC Bhd’s (KL:MISC) offshore businesses is expected to result in MISC holding a 68% majority stake in the new entity, with a combined valuation of RM14.6 billion, according to CIMB Securities.

MISC likely to hold 68% stake in Bumi Armada merger, with RM14.6b combined valuation

KUALA LUMPUR (Nov 15): Fertiliser manufacturer Cropmate Bhd has unveiled the prospectus for its ACE Market initial public offering (IPO) to raise up to RM52 million, as part of its plan to purchase new factories and expand operations.&nbsp;

Fertiliser firm Cropmate unveils prospectus for RM52 mil IPO, priced at 20 sen apiece

KUALA LUMPUR (Nov 15): Shares of Metro Healthcare Bhd (KL:METRO) edged higher on Friday in its trading debut on the ACE Market, after the fertility and maternity specialist raised RM39.16 million from its initial public offering (IPO).

Metro Healthcare ekes out tiny gain on ACE Market debut after RM39 mil IPO

MR DIY Group (M) Bhd’s (KL:MRDIY) shares fell to their lowest in three months on Friday amid weaker-than-expected third-quarter earnings, prompting analysts to cut their earnings forecasts due to weak consumer sentiment and lower spending power.

MR DIY shares fall to three-month low as quarterly results miss expectations

KUALA LUMPUR (Nov 15): Malaysia’s economic growth decelerated in the third quarter as expected though the pace remained brisk, thanks to resilient investments, higher exports and expansion in household spending.

Malaysia’s economy expands a tad slower in 3Q, still on track with 2024 forecast

Malaysian Prime Minister Datuk Seri Anwar Ibrahim’s government faces criticism after it awarded a tender to build the country’s second 5G network to one of the smallest players in the telecommunications industry.

Anwar faces scrutiny over 5G tender pick

KUALA LUMPUR (Nov 15): Malaysia’s central bank on Friday liberalised foreign exchange rules to make it easier for international financial institutions to issue ringgit-denominated bonds and sukuk in the country.

Malaysia eases FX rules to allow foreign financial institutions to sell ringgit bonds

While trade tensions between the US and China are bringing more investments to Southeast Asia, including Malaysia, worries over slower global growth and higher costs loom, according to Malaysia’s trade and investment chief.

Zafrul flags longer term pain from US-China rift

KUALA LUMPUR (Nov 15): Shares of Berjaya Food Bhd (KL:BJFOOD) extended decline to their lowest in six weeks on Thursday, after the café-and-restaurant operator reported its fourth consecutive quarter of losses.

Berjaya Food shares extend decline to six-week low after another quarterly losses

The US dollar was poised for big weekly gains on Friday, towering near one-year highs as a hawkish turn from the Federal Reserve chief sent short-term Treasury yields higher, leaving Wall Street and European futures in the red.

Dollar sits atop one-year peak as Powell sends yields up, China data mixed

Earlier this week on Monday (Nov 11), the High Court formally dismissed the civil forfeiture of shares in Bright Packaging Industry Bhd owned by businessman Datuk Ricky Wong Shee Kai, his lawyers said.

High Court dismisses civil forfeiture of over 5 mil shares owned by Ricky Wong 

Gamuda Land, the property arm of Gamuda Bhd (KL:GAMUDA), and Taylor's Education Group have collaborated to establish affordable international schools within Gamuda Land's townships.

Gamuda Land partners with Taylor's Education Group to bring affordable private education to its townships

&nbsp;Nissan Motor Co will have a year of breathing space in 2025 before hitting a record bond maturity wall as concerns mount about its ability to generate cash.

Nissan faces record debt bill with one year left to fix finances

Thailand is aiming to legalise casinos next year to draw foreign investments and collect more taxes, a potential win for global operators who have for long canvassing for the legislation to benefit from the country’s status as a tourism hot spot.

Thailand aims to legalise casinos next year in win for global players

Vietnam President Luong Cuong forcefully warned of the dangers of a world with higher tariffs, one of the strongest criticisms so far of US President-elect Donald Trump’s approach to trade as world leaders gather this week in Peru.

Vietnam leader warns trade wars lead to poverty in dig at Trump

President-elect Donald Trump ruled out giving a post to JPMorgan Chase &amp; Co’s Jamie Dimon in his second-term administration in a jab at the prominent Wall Street chief executive officer.

Trump says no Dimon in administration, picks Kennedy for cabinet

Stocks fell after Jerome Powell signalled there’s no need for the Federal Reserve to rush with rate cuts as the economy is holding up.

Stocks get hit as Powell’s remarks curb US Fed wagers

KUALA LUMPUR (Nov 15): A local egg importer company’s libel suit against former minister Datuk Seri Azmin Ali has been dismissed.&nbsp;