<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 24): Kwantas Corp Bhd's co-founder director and executive director Kwan Ngen Wah has been redesignated as chief executive officer (CEO) of the group, after former CEO Kwan Ngen Chung passed away.</p></div>

<div class=newsTextDataWrapInner><p>Ngen Wah, 60, is Ngen Chung's elder brother. Together, the two brothers had established Kwantas in 1995.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, Kwantas said Ngen Wah has been actively involved in the oil palm industry, stone quarry operation, road construction and property development projects for the past 30 years.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Ngen Wah is also one of the major shareholders of Kwantas, holding 93.19 million shares or a 29.9% stake in the group.</p></div>

<div class=newsTextDataWrapInner><p>Kwantas shares were untraded today. It closed at RM1.30 yesterday, for a market capitalisation of RM405.18 million.</p></div>


KUALA LUMPUR (July 24): Kwantas Corp Bhd's co-founder director and executive director Kwan Ngen Wah has been redesignated as chief executive officer (CEO) of the group, after former CEO Kwan Ngen Chung passed away.

Ngen Wah, 60, is Ngen Chung's elder brother. Together, the two brothers ...

Kwan Ngen Wah is new Kwantas Corp CEO after his brother's passing

MORNING CALL: 17/1/25

Sony Group Corp.’s PlayStation has canceled previously unannounced games at two of its top subsidiaries, the company said Thursday.

Sony cancels two more Playstation projects

Goldman Sachs Group Inc.’s revenue from its Asia-Pacific wealth unit hit a record last year as ultra rich clients turned to the bank to navigate volatile markets and political tension, according to a regional executive.

Goldman rakes in record wealth revenue from ultra rich in Asia

Oil headed for a fourth weekly gain ahead of President-elect Donald Trump’s second term, with traders seeking clarity on far-reaching sanctions and trade policies.

Oil heads for fourth weekly advance as market girds for Trump

Asian stocks look set to slip after US shares struggled to gain traction as traders prepared for a swath of Chinese data scheduled for release Friday including fourth quarter growth.

Asian stocks eye soft start ahead of China data

China Vanke CEO Zhu Jiusheng was detained by public security authorities on Wednesday and a Shenzhen government task force has stepped in to oversee the property developer's operation, state media The Economic Observer reported on Thursday.

China Vanke's CEO detained by authorities, state media reports

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

Alliance Bank, Hextar Industries, Jati Tinggi, Ancom Nylex, Sarawak Oil Palms, Sedania, Tanco, Silver Ridge

Prime Minister Datuk Seri Anwar Ibrahim on Thursday visited the Battersea Power Station, which is Malaysia's largest investment involving public funds in Europe.

Anwar, who is here on a five-day working visit to the UK, was received upon arrival by Tan Sri Shahril Ridza Ridzuan, chairman of Battersea Project Holding Company Ltd, and Permodalan Nasional Bhd (PNB) president and group chief executive Datuk Abdul Rahman Ahmad.

Anwar pays a visit to iconic Battersea Power Station

A witness in the sexual harassment trial involving preacher Ebit Irawan Ibrahim Lew, or Ebit Lew, told the Magistrate's Court here that the WhatsApp messages exchanged between the complainant and the preacher had been deleted and could not be retrieved.

WhatsApp messages between complainant and Ebit Lew deleted, irretrievable, says witness

Malaysia’s RM4 trillion equity and debt capital market is well-positioned to support the country’s growth, enabling businesses and investors to leverage and benefit from emerging opportunities, Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar said on Thursday.

Malaysia’s RM4 tril capital market propels growth for businesses, investors — Wahid Omar

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


<p><span style="tab-stops:179.25pt">Property developer Tanco Holdings Bhd, whose share price surged to a 27-year high of RM2.13 on Thursday, has proposed a bonus issue of up to 3.85 billion new shares — on the basis of seven bonus shares for every five Tanco shares held — to reward shareholders.</span></p>


Tanco plans 7-for-5 bonus issue as share price hits 27-year high

<p>Although the ceasefire deal to end the war in Gaza is viewed as positive for Nestlé (Malaysia) Bhd (KL:NESTLE) and Berjaya Food Bhd (KL:BJFOOD), analysts caution that earnings recovery may take time due to shifting consumer sentiment, competition from local brands, and rising costs.</p>


Gaza ceasefire positive for Nestlé and Berjaya Food but earnings recovery hindered by competition, costs, say analysts

<div class="ceonothumb mx-auto pb-5">
<div>
<div class="iframe-w100-wrapper"><iframe allowfullscreen="" frameborder="0" height="500" src="https://www.youtube.com/embed/tBj2cCzRZkA?si=EJn8MQBYV-CAV27h&amp;rel=0&amp;autoplay=1&amp;mute=1" width="840"></iframe></div>
</div>

<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>Prime Minister Datuk Seri Anwar Ibrahim on Thursday visited the Battersea Power Station, which is Malaysia's largest investment involving public funds in Europe.</p>

<p>Anwar, who is here on a five-day working visit to the UK, was received upon arrival by Tan Sri Shahril Ridza Ridzuan, chairman of Battersea Project Holding Company Ltd, and Permodalan Nasional Bhd (PNB) president and group chief executive Datuk Abdul Rahman Ahmad.</p>


<p><span style="tab-stops:179.25pt">The Securities Commission Malaysia (SC) has expressed its support for Prime Minister Datuk Seri Anwar Ibrahim’s commitment to exploring a digital finance policy embracing cryptocurrency and blockchain technology.</span></p>


SC backs PM’s push for digital finance policy on cryptocurrency, blockchain

<p>Malaysia’s RM4 trillion equity and debt capital market is well-positioned to support the country’s growth, enabling businesses and investors to leverage and benefit from emerging opportunities, Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar said on Thursday.</p>


<p>Singapore-based steel firm Green Esteel Pte Ltd has emerged as Southern Steel Bhd's (KL:SSTEEL) new controlling shareholder with a 50.1% stake in the company.</p>


Singapore's Green Esteel emerges as Southern Steel's new controlling shareholder

<p>A witness in the sexual harassment trial involving preacher Ebit Irawan Ibrahim Lew, or Ebit Lew, told the Magistrate's Court here that the WhatsApp messages exchanged between the complainant and the preacher had been deleted and could not be retrieved.</p>


<p><span style="tab-stops:179.25pt">Wall Street's main indexes took a pause on Thursday following strong gains in the previous session, helped by a batch of bumper earnings from major banks, while investors assessed data to gauge the outlook for interest rate cuts this year.</span></p>


Wall Street subdued after strong session; focus on earnings

<p>The Thai government has expressed interest in collaborating with Malaysia on digital governance to enhance the quality of life for its citizens.</p>

<p>Deputy Prime Minister and Minister of Digital Economy and Society of Thailand, Prasert Jantararuangtong, said Thailand is keen to work with Asean member states to further elevate the standard of living in the region.</p>


Thailand seeks digital collaboration with Malaysia

<p><span style="tab-stops:179.25pt">KUALA LUMPUR (Jan 16): The Malaysia Competition Commission (MyCC) imposed financial penalties of RM415.5 million on five major chicken producers in Malaysia last year, said Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.</span></p>

<p><span s...

Total RM415.5m in fines imposed in five cartel cases last year, says minister 

<p><span style="tab-stops:179.25pt">Nintendo Co said it will reveal the next-generation Switch 2 on April 2, setting in motion the retirement of the nearly eight-year-old flagship model. </span></p>


Nintendo to unveil next-generation Switch 2 in April

<p>Goldman Sachs Group Inc.’s revenue from its Asia-Pacific wealth unit hit a record last year as ultra rich clients turned to the bank to navigate volatile markets and political tension, according to a regional executive.</p>


<p><span style="tab-stops:179.25pt">The Pahang government plans to develop an artificial intelligence data centre (AIDC) to serve as a new online business platform for agricultural products, with implementation expected to begin in January 2026.</span></p>


Pahang working on AI data centre to market agricultural products, says MB

<p>The 61st Meeting of the Asean National Tourism Organisations (NTOs) held on Thursday, facilitated productive discussions with key Asean-associated entities and international organisations.&nbsp;</p>


61st Asean NTOs meeting engages in productive discussion

<p>Asian stocks look set to slip after US shares struggled to gain traction as traders prepared for a swath of Chinese data scheduled for release Friday including fourth quarter growth.</p>


<p><span style="tab-stops:179.25pt">US retail sales increased solidly in December, pointing to strong demand in the economy and further reinforcing the Federal Reserve's cautious approach to cutting interest rates this year.</span></p>


US retail sales rise solidly in December

<p><span style="tab-stops:179.25pt">The number of Americans filing new applications for unemployment benefits increased more than expected last week, but remained at levels consistent with a healthy labour market.</span></p>


US weekly jobless claims increase; labour market conditions still healthy

<p>The <em>Eagle S</em> tanker seized by Finnish authorities on suspicion of ripping up subsea cables will not face a separate criminal investigation into whether its fuel cargo violates sanctions imposed on Russia, the Customs Office said on Thursday.</p>

<p>Police seized the United Arab Emirates-owned (UAE) tanker last month on suspicion of damaging a Finnish-Estonian power line and four telecoms cables.</p>
