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			<td style="background-color:#ffffff"><img alt="Ter (third from left) and his team at The Edge Communications office yesterday. Photo by Suhaimi Yusuf" src="http://edgemarkets.s3-ap-southeast-1.amazonaws.com/pictures/KLSCCCI_theedgemarkets.jpg" style="height:315px; width:580px" /></td>
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			<td style="background-color:#ffffff">Ter (third from left) and his team at The Edge Communications office yesterday. Photo by Suhaimi Yusuf</td>
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<div class=newsTextDataWrapInner><p>PETALING JAYA: The Chinese Chamber of Commerce and Industry of Kuala Lumpur and Selangor (KLSCCCI) paid a visit to The Edge Communications Sdn Bhd office here yesterday. Leading the delegation was its president Datuk Ter Leong Yap, who was joined by its vice-president Michael Chai Woon Chew, council members — Datuk Tan Tian Meng, Datuk Albert Chiang Heng Kieng, Dave Lim Keat Hin and Ng Ho Peng, as well as its youth chairman and council member Datuk Ng Yih Pyng.</p></div>

<div class=newsTextDataWrapInner><p><br />
This article first appeared in <em>The Edge Financial Daily</em>, on October 29, 2014.</p></div>
</div><div class=inPageAd id=div-gpt-ad-inpage>

KLSCCCI pays visit to The Edge

The number of Americans filing new applications for unemployment benefits rose slightly last week, suggesting no material change in the labour market and reinforcing views that hurricanes and strikes had resulted in job growth almost stalling in October.

US weekly jobless claims increase marginally; unit labour costs growth strong

Home Minister Datuk Seri Saifuddin Nasution Ismail defended the use of the Security Offences (Special Measures) Act 2012 or Sosma in the investigation involving GISB Holdings Sdn Bhd (GISB).

Home ministry defends use of Sosma in GISB case

Huawei has provided hundreds of mobile network sites as well as cloud services and intelligent operation centres in Sarawak, which have helped improve wireless network coverage in remote areas, accelerating the country’s digital transformation, said Prime Minister Datuk Seri Anwar Ibrahim.

Huawei helps to accelerate country's digital transformation — PM 

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

Ekovest, Eco World, Mah Sing, Pentamaster, Sentral REIT, KKB Engineering, Microlink, FGV, Southern Steel 

The physical progress of the Sabah Pan Borneo Highway (LPB) Phase 1A project stands at 78% and is expected to be completed by the first quarter of 2026, said Works Minister Datuk Seri Alexander Nanta Linggi.

He added that Phase 1B of the project has reached 2.4% progress, with completion set for 2029.

Sabah Pan Borneo Highway Phase 1A reaches 78% progress — Nanta

The Bank of England (BOE) cut interest rates on Thursday for only the second time since 2020 and said future reductions were likely to be gradual as it predicted the British government's first budget would lead to higher inflation and economic growth.

Bank of England cuts rates but sees higher inflation after Reeves's budget

US labour costs grew at a surprisingly strong pace in the third quarter (3Q), and was much stronger than previously thought earlier this year, which risks fanning inflationary pressures.

Unit labour costs, or what a business pays employees to produce one unit of output, increased at a 1.9% annualised rate, following significant upward revisions to prior quarters, data from the Bureau of Labor Statistics (BLS) showed on Thursday.

US labour costs rise more than expected in 3Q in fresh inflation risk

The Malaysian Anti-Corruption Commission (MACC) has found several suspicious transactions in an investigation into investment losses of RM43.9 million in FashionValet Sdn Bhd.

MACC spots suspicious transactions in probe into FashionValet investment loss

Malaysia will continue to advocate for the limitation or complete abolition of the veto power to restore international trust and confidence in the credibility and role of the United Nations Security Council (UNSC), the Dewan Rakyat was told on Thursday.

Malaysia pushing for overhaul of UNSC, Parliament told 

Kumpulan Jetson Bhd (KL:JETSON), which is being sued by OCR Group Bhd (KL:OCR) over alleged breaches of an RM88.03 million contract to build four blocks of serviced apartments in Jalan Yap Kwan Seng here, said on Thursday it is not a party to the disputed contract under OCR's suit as Jetson Construction Sdn Bhd (JCSB) — which was contracted to undertake the job — is no longer its subsidiary.

Kumpulan Jetson says it is not a party to disputed contract under OCR’s RM88 mil suit

<p>(Nov 7):&nbsp;Malaysian tycoon Lim Kang Hoo is exploring selling his toll-road business, in a deal that could value the assets at as much as RM5 billion (US$1.1 billion), according to people with knowledge of the matter.</p>


Ekovest’s Lim weighing sale of toll-road assets for RM5b — Bloomberg

<p>Mah Sing Group Bhd (KL:MAHSING) has acquired a 5.24-acre (2.12-hectare) freehold parcel in Old Klang Road here for approximately RM113 million from Team Keris Bhd to develop a new transit-oriented development (TOD) named M Aurora.&nbsp;</p>


Mah Sing acquires 5.24-acre Old Klang Road land for transit-oriented M Aurora

<p>(Nov 7):&nbsp;Malaysian bonds are turning vulnerable to further outflows, as local yields are seen rising along with those on&nbsp;Treasuries,&nbsp;with Donald Trump poised to be the next US president.</p>


Trump’s win threatens ringgit bonds after worst sell-off since 2020 — analysts

<p>IOI Properties Group Bhd (KL:IOIPG) has retracted a proposal on redevelopment of the Shenton House to be deliberated at a shareholders meeting on Thursday while it considers its options on the project.</p>


IOI Properties withdraws Shenton House proposal at shareholders meeting while it considers options

<p>The federal government on Thursday disputed Semantan Estate (1952) Sdn Bhd’s possession of the 263.72-acre (106.72-hectare) ‘Duta Enclave’ prime land, saying that the company, which is presently under liquidators’ control, is only entitled to monetary compensation based on the Government Proceedings Act 1956 (GPA) and the Specific Relief Act 1950 (SRA).</p>


Lawyers dispute govt's claim that Semantan Estate only entitled to compensation, not return of Duta Enclave land

<p>Eco World Development Group Bhd (KL:ECOWLD), via its 81%-owned subsidiary Mutiara Balau Sdn Bhd, is buying 10 parcels of land measuring 847.25 acres in Semenyih, Selangor for RM742.41 million, cash. It plans to use the plots&nbsp;for&nbsp;a new mixed development called Eco Forest 2, which&nbsp;is expected to have an estimated gross development value of RM4.6 billion.</p>


EcoWorld to fork out RM742m cash to buy 10 plots of Semenyih land from Boustead Group for new RM4.6b mixed project

<p>IN the past week, employers have expressed their dissatisfaction over a government proposal to extend the mandatory pension contribution to non-citizen employees, which they say is unnecessary and adds to their already considerable business costs.</p>

<p>They said the proposal — presented duri...

Cover Story: The State of the Nation -  Mandatory EPF contribution for non-citizen employees baffles employers 

<p>SINGAPORE (Nov 7): Genting Singapore has reported a net profit after taxation (NPAT) of S$79.4 million (RM263.36 million) for its 3QFY2024 ended Sept 30, 2024, 63% lower year-on-year (y-o-y) and 27% lower quarter-on-quarter (q-o-q), amid the slower recovery of international visitor arrivals to Singapore.</p>


Genting Singapore’s 3QFY2024 net profit after taxation at S$79.4m, 63% lower y-o-y

<p>KUALA LUMPUR (Nov 7): Metro Healthcare Bhd (KL:MHCARE) announced that the 24.47 million shares available to the public in its initial public offering (IPO) was oversubscribed by 38.6 times.</p>


Public portion of Metro Healthcare’s IPO oversubscribed by 38 times

<p>KUALA LUMPUR (Nov 7): KKB Engineering Bhd has secured contracts worth a combined RM93 million from several companies with key projects in the industrial and infrastructure sectors.</p>


KKB Engineering bags jobs totalling RM93m from Petros, other firms

<p>PETALING JAYA (Nov 7): A bag containing RM1 million in cash that was reported missing on Wednesday (Nov 6) afternoon in Ampang has been found on Jalan Hulu Kelang, heading towards the Ampang-Kuala Lumpur Elevated Highway.</p>


Lost bag containing RM1m found — police

<p>Malaysia's state energy firm Petroliam Nasional Bhd (Petronas) on Thursday said it has lifted the force majeure on gas supply to one of its liquefaction terminals, Malaysia LNG Dua, starting Nov 1.</p>


Petronas lifts force majeure on gas supply from Malaysia LNG Dua

<p>An expanded US-China trade war during President-elect Donald Trump’s second term could slash the Asian nation’s economic growth by two percentage points and prompt Beijing to stimulate domestic demand, according to Macquarie Group Ltd.</p>


New Trump trade war seen knocking two points off China's GDP growth

<p>The Malaysian government on Thursday launched the InvestMalaysia portal, which aims to be a one-stop gateway for investors to obtain information on Malaysia, to attract global investors and strengthen the country's position as an investment destination.</p>


Malaysia launches InvestMalaysia portal to attract global investors

<p>A federal lawmaker from Sabah has alleged that one of the packages under the Pan Borneo Highway project in the state involved "multiple levels of subcontracting" and wants Putrajaya to terminate the contractor.</p>


Sabah MP alleges 'multiple levels of subcontracting' in Pan Borneo Highway project

<p>The Public Accounts Committee (PAC) will launch an investigation into the combined RM43.9 million investment loss incurred by Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) from their venture in FashionValet, an e-commerce platform.</p>


PAC to probe Khazanah and PNB over RM43.9m FashionValet investment loss

<p>Sentral REIT (KL:SENTRAL), which mainly manages office towers, said on Thursday its net property income rose 25% in the third quarter ended Sept 30, 2024 (3QFY2024) from a year earlier, boosted by revenue from a newly acquired property.</p>


Sentral REIT's 3Q net property income rises 25% as Menara CelcomDigi boosts revenue

<p>(Nov 7):&nbsp;Silicon Valley is bracing for a vastly different relationship with the US government, as Donald Trump returns to the White House with promises to undo many of his predecessor’s policies and Elon Musk poised to play an influential role.</p>


Tech giants brace for AI revamp, antitrust pullback in Trump 2.0

<p>A group of 14 Malaysian plantation organisations have jointly urged the government to reconsider the upcoming mandatory Employees Provident Fund (EPF) contribution for foreign workers, stating that the policy could overburden planters and potentially contradict the EPF Act.</p>


Malaysian plantation associations call for review of mandatory EPF contribution for foreign workers

<p>Malaysia's international reserves dipped slightly in October after the central bank accumulated the biggest hoard in nearly a decade.</p>
