<div class=newsTextDataWrapInner>SINGAPORE (Jan 5): Keppel FELS has delivered its first rig of the new year.</div>

<div class=newsTextDataWrapInner>Wholly owned subsidiary of Keppel Offshore &amp; Marine delivered the jackup rig, Saga, to Borr Drilling safely, on time and on budget.</div>

<div class=newsTextDataWrapInner>Built to Keppel's proprietary KFELS Super B Class design, Saga is the first of five jackup rigs that Keppel is building for Borr Drilling... <a href="https://www.theedgesingapore.com/keppel-fels-delivers-first-rig-2018-borr-drilling" target="_blank">(Click here to read the full story.)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (Jan 5): Keppel FELS has delivered its first rig of the new year.

Wholly owned subsidiary of Keppel Offshore & Marine delivered the jackup rig, Saga, to Borr Drilling safely, on time and on budget.

Built to Keppel's proprietary KFELS Super B Class design, Saga is...

Keppel FELS delivers first rig of 2018 to Borr Drilling

The central bank also proposes to recategorise certain home financing products as personal financing, with a tenure cap of 10 years.

 BNM plans to abolish flat rate rule on personal financing products to prevent penalising early repayers

President-elect Donald Trump, with SoftBank Group CEO Masayoshi Son at his side, announced on Monday a US$100 billion (RM445 billion) investment in the US over the next four years in what would be a boost to the US economy.

Trump, SoftBank CEO announce US$100b US investment

The East Coast Rail Line (ECRL) project has achieved 76.06% progress as of November, Malaysia Rail Link (MRL) Sdn Bhd chief executive officer Datuk Seri Darwis Abdul Razak said.

The progress was on track to ensure that the project will be completed in December 2026 for the Kota Bharu to Gombak Integrated Terminal and then to Jalan Kastam in December 2027, he added.

ECRL project reaches 76% completion as of November — MRL

MicroStrategy shares rose about 3% on Monday as the software company and bitcoin buyer was set to join the tech-heavy Nasdaq 100 index, further brightening the prospects of the stock.

The US$25.7 trillion index that houses the largest non-financial companies will now gain indirect exposure to bitcoin via MicroStrategy, which holds US$44 billion worth of the digital currency on its balance sheet, about 2% of the total supply of the world's largest cryptocurrency.

Bitcoin buyer MicroStrategy's Nasdaq 100 entry to support stock rally

Canada's Finance Minister Chrystia Freeland quit on Monday after clashing with Prime Minister Justin Trudeau on issues including how to handle possible US tariffs, dealing another blow to an already unpopular government.

Canada's finance minister quits, in blow to Trudeau's government

Activity at US service providers is expanding at the fastest pace since October 2021, providing momentum for the economy even as the downturn in manufacturing worsens.

US services activity expands by most in more than three years

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

Gamuda, Winstar Capital, MClean, DRB-Hicom, Sapura Industrial, NTPM, Crest, M&G, George Kent, Infomina, Perdana Petroleum, Advancecon

The German parliament accepted Chancellor Olaf Scholz's invitation to withdraw its confidence in him and his government on Monday, clearing the way for the Feb 23 early election necessitated by the collapse of his government.

German parliament votes no-confidence in Chancellor Scholz, paving way for election 

The ringgit has strengthened by 2.8% against the US dollar as of Nov 22, 2024, according to the Ministry of Finance (MOF).

Ringgit strengthened 2.8% against US dollar as of Nov 2024 — MOF

America’s surprisingly robust economy has raised expectations that US interest rates will stay high compared to Europe next year.

The US-euro rate gap that triggered Trump’s Fed bashing is set to widen again

Indonesia’s largest party has officially expelled former president Joko Widodo after he spurned the party’s own candidate in February elections and backed Prabowo Subianto’s successful campaign to become leader of Southeast Asia’s biggest economy.

Indonesia’s largest party expels Jokowi after he backed Prabowo

KUALA LUMPUR (Dec 16): Pengerang Energy Complex Sdn Bhd (PEC)&nbsp;has negotiated financing terms for US$3.5 billion (RM15.58 billion) in project financing from&nbsp;export credit agencies (ECAs) across North America, western and southern Europe, as well as Asia; and Islamic financing from Islamic Development Bank entities.

Pengerang Energy Complex secures US$3.5b project financing from global export credit agencies

The central bank also proposes to recategorise certain home financing products as personal financing, with a tenure cap of 10 years.

KUALA LUMPUR (Dec 16): Proton's first electric vehicle (EV), the e.MAS 7, will be the official car for Malaysia's Asean Chairmanship in 2025, Prime Minister Datuk Seri Anwar Ibrahim unveiled on Monday.

He said Malaysia hopes to set an example in this region in promoting the development ...

e.MAS 7 to be Asean 2025 official car — Anwar

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

Singapore's ChemOne Group has delayed the start of its Pengerang Energy Complex (PEC) to the fourth quarter of 2028, with construction set to begin by mid-2025, it said on Monday, after securing more financing for the project.

Singapore's ChemOne delays Pengerang complex's start to 2028

The National Higher Education Fund Corp (PTPTN) expects dividends for its Simpan SSPN savings plan to increase in 2024, buoyed by improved investment performance and strategic fund management.

PTPTN sees better SSPN dividends amid stronger investment returns

Imaging company Crest Group Bhd (KL:CREST), which was listed on the ACE Market two months ago, said it is acquiring an industrial property in Puchong, Selangor for RM16.5 million to establish its new headquarters.

Crest Group acquires industrial property in Puchong to house new HQ

Export of palm oil and related products reached RM99.3 billion in January-November 2024, an increase of RM12.5 billion compared to the same period in 2023.

Export of palm oil, related products hit RM99.3b in Jan-Nov 2024 — Johari  

The Cabinet paper outlining the direction of the Multi-Lane Free Flow (MLFF) system will be presented in January 2025, Deputy Minister of Works Datuk Seri Ahmad Maslan said.

He said the Works Ministry had issued letters to the highway concession companies involved in the MLFF project, informing them that negotiations would no longer proceed.

Multi-Lane Free Flow direction paper to be presented to Cabinet in Jan 2025 — Ahmad

George Kent (Malaysia) Bhd (KL:GKENT) has secured a RM45.5 million contract from Kwasa Land Sdn Bhd for the Kwasa Damansara township development in Sungai Buloh, Selangor.

George Kent clinches RM46m infrastructure project in Kwasa Damansara

Alibaba Group Holding Ltd is nearing a deal to sell its department store business to Youngor Fashion Co for around US$1 billion (RM4.45 billion), according to people familiar with the matter.&nbsp;

Alibaba close to selling Intime to Youngor Fashion for US$1 bil — Bloomberg

Sapura Industrial Bhd (KL:SAPIND) said on Monday that Puncak Exotika Sdn Bhd has ceased to be its substantial shareholder after it disposed of 500,000 shares in the automotive component manufacturer.

In a bourse filing, Sapura Industrial said that the transaction took place last Friday (Dec 13). A check with Bloomberg showed that the shares were traded at 82 sen apiece, or a cumulative RM410,000.

Puncak Exotika ceases to be substantial shareholder in Sapura Industrial

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

EVENING 5: Five things you need to know today

Britain's Labour government has pared back an audit of relations with China, four sources with knowledge of the matter said, preparing the way for a less critical report that could help Prime Minister Keir Starmer focus on improving economic ties.

Britain pares back secretive China strategy review, seeking closer ties

Two Singaporean ministers are taking legal action against Bloomberg over an article published on December 12, which they described as "libellous."

Home Affairs and Law Minister K Shanmugam and Manpower Minister Dr Tan See Leng stated in separate Facebook posts that they will be issuing Letters of Demand concerning the article relating to their property transactions.

Singapore ministers to send letters of demand to Bloomberg over 'libellous article'

Canada's Finance Minister Chrystia Freeland quit on Monday after clashing with Prime Minister Justin Trudeau on issues including how to handle possible US tariffs, dealing another blow to an already unpopular government.

Aluminium products manufacturer Winstar Capital Bhd, set to be listed on Bursa Malaysia's ACE Market on Dec 19, reported a net profit of RM3.31 million or 1.42 sen per share for the third quarter ended Sept 30, 2024 (3QFY2024).

Sunview-backed Winstar posts 3Q net profit of RM3.3m ahead of listing

A summary of how key Bursa Malaysia indices and the ringgit performed on Monday.

FBM KLCI down 0.12% to 1,606.85 on Dec 16, 2024

The shareholders of precision cleaning and surface treatment service provider MClean Technologies Bhd (KL:MCLEAN) have approved the company’s plan to diversify into plastic injection moulding and undertake a private placement.