<div class=newsTextDataWrapInner>SINGAPORE (Sept 15): Keppel Electric, a subsidiary of Keppel Infrastructure Holdings, and Electricite Du Laos (EDL) have signed an exclusive framework agreement as part of the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP), to jointly explore opportunities to import renewable energy into Singapore.</div>

<div class=newsTextDataWrapInner>Keppel Infrastructure is in turn a wholly-owned subsidiary of Keppel Corporation.&nbsp;</div>

<div class=newsTextDataWrapInner>The LTMS-PIP is an inter-government project to study the feasibility of cross-border power trade from Lao PDR to Singapore. The LTMS-PIP will serve as a pathfinder to<a href="https://www.theedgesingapore.com/capital/deals-joint-ventures-alliances/keppel-electricite-du-laos-sign-exclusive-framework-agreement" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (Sept 15): Keppel Electric, a subsidiary of Keppel Infrastructure Holdings, and Electricite Du Laos (EDL) have signed an exclusive framework agreement as part of the Lao PDR-Thailand-Malaysia-Singapore Power Integration Project (LTMS-PIP), to jointly explore opportunities to import renewable energy into Singapore.

Keppel, Electricite Du Laos sign exclusive framework agreement to explore renewable energy opportunities

Tech and growth stocks dragged Wall Street's main indexes lower on Friday, at the end of an upbeat holiday-shortened week driven by expectations around a traditionally strong period for markets.

Wall Street falls as strong holiday-shortened week nears close

SCGM Bhd's (KL:SCGM) substantial shareholders are to inject their agriculture-related business into the cash company in return for RM207.94 million worth of shares as part of the company's regularisation plan.

SCGM formalises injection of agriculture business, proposes 25 sen special dividend 

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

ViTrox, Kim Loong Resources, Crescendo, JcbNext, OCB, Paragon Globe, Tropicana, Asia Poly, Nova MSC, PUC, SCGM

A mystery seller is asking US$200 million (RM893.43 million) for an empty waterfront lot next door to the properties Jeff Bezos bought in South Florida.

The roughly 1.84 acre lot (0.74 hectare) is located at Indian Creek, a man-made barrier island that’s been dubbed “Billionaire Bunker.” Ilya Reznik, who’s brokering the transaction, declined to identify the seller but said they are “willing to negotiate” on price.

Bezos’ Miami neighbour seeking US$200 mil for empty lot

Brazil’s annual inflation unexpectedly slowed in early December as energy costs dropped, giving central bankers limited relief as they pledge two more jumbo interest rate hikes by March.

Official data released on Friday showed consumer prices rose 4.71% from a year earlier, below the 4.83% median estimate in a Bloomberg survey of economists and the prior reading of 4.77%.

Brazil’s annual inflation unexpectedly slows, giving central bank limited respite

Vietnamese Prime Minister Pham Minh Chinh instructed the investment ministry and other authorities to work on development scenarios and measures that will enable the country to attain “double-digit” growth in gross domestic product next year.

Vietnam PM seeks steps for double-digit GDP growth next year

Shell has shut down one of its oil processing units at the Shell Energy and Chemicals Park on Singapore’s Pulau Bukom to facilitate an investigation into a suspected leak in the system.

Shell shuts down oil processing unit at Singapore's Pulau Bukom to probe leak

A Norwegian shipping company on Friday rejected an accusation from Dmitry Medvedev, deputy chairman of Russia's Security Council, that it refused to rescue sailors from a sinking Russian cargo ship in the Mediterranean Sea.

Norwegian shipping firm denies Moscow's claim it refused to help sinking Russian ship

OpenAI, founded a decade ago as a research organisation, is considering a change to the AI company’s structure that would create a more conventional money-making corporation alongside a non-profit arm.

OpenAI mulls plan for more conventional for-profit business 

Over 330 initial public offerings (IPOs), US$20 billion (RM89.34 billion) of proceeds and more than US$160 billion addition in country’s market value, sums up a bumper year for India that is set to further strengthen its position among top global destinations for capital raising.

Roaring debuts cap a bumper year for IPOs in India

Crescendo Corporation Bhd (KL:CRESNDO) reported a more than fivefold increase in net profit for its third quarter, driven by data centre land sales in Nusa Cemerlang Industrial Park (NCIP) in Iskandar Puteri, Johor.

Data centre land sales lift Crescendo's 3Q net profit

Industrial services firm Swift Energy Technology Bhd's initial public offering (IPO) was oversubscribed by 58.09 times for the 50.04 million new shares offered to the public, the issuing house said on Friday.

Swift Energy's IPO shares for public oversubscribed by 58 times

No decision has been made regarding electricity tariff hikes in Peninsular Malaysia as of now, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

No decision on electricity rate hike just yet — DPM Fadillah

Cocoaland Holdings Bhd co-founder Lau Pak Lam has ceased to be a substantial shareholder in PUC Bhd (KL:PUC) after disposing of 100 million shares or a 3.6% stake in the digital payment solutions provider via a direct business transaction on Dec 23.

PUC changes substantial shareholders

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

A man was whipped at a mosque in Terengganu on Friday for the Islamic crime of close proximity with a non-family member of the opposite sex, local media reported, in a rare public sentencing.

Man publicly whipped in Terengganu for Islamic crime of close proximity

The LED Fantasy Light Carnival held at the Bukit Gambir Multipurpose Hall has been ordered to cease immediately and has been fully shut down.

The Tangkak District Council (MDT), through a post on its Facebook page, announced that an investigation found the organisers had failed to comply with the conditions for holding the carnival, particularly in terms of its sensitivity to the local community.

Tangkak LED Fantasy Light Carnival shut down over Chinese flag on rocket

Chinese national Huang YongKang has emerged as Asia Poly Holdings Bhd's (KL:ASIAPLY) second biggest shareholder after taking up the entire 95.85 million shares issued under a private placement.&nbsp;

The shares represent a 9.09% stake in the Klang-based cast acrylic sheets manufacturer.

Asia Poly sees emergence of new substantial shareholder

Loss-making OCB Bhd (KL:OCB) is to sell its loss-making and indebted wholly owned subsidiary Agrow Malaysia Sdn Bhd for RM3 million cash.

The purchaser, Tan Sim Lam, will also take over OCB’s role as the building materials unit’s guarantor of RM20.32 million debt as part of the deal, according to the consumer food and bedding maker’s bourse filing on Friday.

OCB to offload debt-laden building materials business

Paragon Globe Bhd’s (KL:PGLOBE) shareholders have approved the Johor-based property developer’s various land deals as well as its joint development with a unit of Tropicana Corp Bhd (KL:TROP).

Paragon Globe shareholders greenlight deals on land, development rights with Tropicana unit

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

EVENING 5: Five things you need to know today

SCGM Bhd's (KL:SCGM) substantial shareholders are to inject their agriculture-related business into the cash company in return for RM207.94 million worth of shares as part of the company's regularisation plan.

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

FBM KLCI up to over one-month high of 1,628.14 on Dec 27, 2024

Kim Loong Resources Bhd (KL:KMLOONG) reported its highest ever quarterly net profit of RM49.96 million in its third quarter ended Oct 30, 2024 (3QFY2025), helped by higher average selling prices in both its plantation and palm oil milling divisions.

Kim Loong sees FFB slipping in FY2025 after posting record quarter in 3Q

German President Frank-Walter Steinmeier dissolved parliament and set the country’s snap election for Feb 23, formally endorsing a timetable proposed by Chancellor Olaf Scholz.

Germany set for February election after parliament dissolved

A record year for travel in the US is pushing airline stocks to a soaring annual outperformance, and the prospect of sustained earnings power points to a bullish outlook for 2025.

US airline stocks beat market by most in a decade as travel booms

Social media platform providers have been urged to promptly register their service licences ahead of the enforcement of the class licence for application service providers, which takes effect on Jan 1.

Social media platforms must apply for licence by Dec 31 — deputy minister

The Entertainment and Places of Entertainment Control Enactment 2024, which will come into force in four days, will impose stricter regulations on entertainment activities in Kelantan.

With new enactment, Kelantan set to enforce stricter entertainment rules next year

Software services provider Nova MSC Bhd (KL:NOVAMSC) has decided not to proceed with subscription deals with two Singapore-based investment firms.

Nova MSC shelves subscription deal with Singapore firms, in talks with new potential investor

Profit margins in China’s automotive industry were squeezed even further in 2024, as cut-throat competition continued to claim weaker electric vehicle (EV) makers.

Industry-wide margins for car manufacturers in the world’s largest market averaged 4.4% in the January through November period, data released on Friday by China’s Passenger Car Association (PCA) show. They averaged 5% in 2023.