<div class=newsTextDataWrapInner>KUALA LUMPUR (April 18):&nbsp;The chairman of Malaysia's CIMB Group Holdings Bhd Nazir Razak has taken a voluntary leave of absence pending an independent review of the bank's processes, a company source said on Monday.</div>

<div class=newsTextDataWrapInner>Mr Nazir made the announcement to shareholders on Monday at the annual general meeting (AGM) of Malaysia's second-biggest lender by assets, the source said.</div>

<div class=newsTextDataWrapInner>The decision is related to a recent revelation that Mr Nazir received US$7 million in funds transferred to his personal bank account from his brother, Malaysian Prime Minister Najib Razak, the source said.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Mr Nazir is expected to hold a press conference after the AGM to announce the decision.</div>

KUALA LUMPUR (April 18): The chairman of Malaysia's CIMB Group Holdings Bhd Nazir Razak has taken a voluntary leave of absence pending an independent review of the bank's processes, a company source said on Monday.

Mr Nazir made the announcement to shareholders on Monday at the ann...

Malaysia's CIMB chairman Nazir Razak takes voluntary leave of absence

Stocks around the world tumbled on Thursday, with the 10-year US Treasury yield at its highest since May, a day after the Federal Reserve said it would temper the pace of rate cuts, kicking off a busy 24 hours for other central banks.

Stocks, bond prices fall after Fed sounds cautious, BOJ hold weakens yen

MARC Ratings has upgraded UEM Edgenta Bhd’s (KL:EDGENTA) Islamic Medium-Term Notes (IMTN) under its RM1 billion Sukuk Murabahah Programme to AAIS from AA-IS, citing the company’s cost management which contributed to enhanced risk profile.

In a statement commenting on the upgrade, UEM Edgenta said MARC’s rating upgrade emphasised UEM Edgenta’s ability to generate consistent cash flows, supported by its diversified revenue streams and long-term contracts.

MARC upgrades UEM Edgenta’s sukuk rating to AAIS

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

FBM KLCI up 0.03% to 1,600.09 on Dec 19, 2024

SHAH ALAM (Dec 19): Bilateral trade between Malaysia and South Korea until November has hit RM100.6 billion, mainly in the electrical and electronics (E&E) sector, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

He said there are 400 registered Sout...

Malaysia-South Korea trade hit RM100.6b as of Nov 2024 — Zafrul

Thai police believe they have cracked down on a major scam syndicate that laundered over five billion baht (RM652.23 million) through fraudulent transactions, following the arrests of a Malaysian ringleader and his Thai wife.

Malaysian ringleader, Thai wife detained in five bil baht money-laundering case

Volkswagen AG and labour leaders are moving closer to an agreement to restructure the automaker’s namesake brand without shuttering factories in Germany, according to people familiar with the matter.

VW nears labour deal that would keep German car plants open

Two months into his tenure as Nike CEO, Elliott Hill gets his first shot on Thursday to convince investors he can rescue the flailing sportswear company after a year stained by layoffs and cratering sales.

New Nike CEO Hill gets his chance to lay out turnaround plan

The Communications Ministry will monitor and take additional measures if any social media platforms fail to enforce their own age restrictions for users.

Fahmi vows extra measures against social media platforms that fail to enforce age restrictions

Indonesia will increase its export levy for crude palm oil (CPO) to 10% from the current 7.5%, to finance higher biodiesel subsidy, its chief economic minister said on Thursday.

Indonesia to hike crude palm oil export levy to 10%

A businessman lost RM210,976.50 after falling victim to a non-existent investment scheme on social media, according to police.

Acting Kemaman District Police Chief DSP Wan Muhamad Wan Ja’afar said today the 31-year-old man had joined a so-called investment scheme through a website in November.

Businessman loses over RM200,000 to investment scam

Datin Seri Rosmah Mansor has been granted a full acquittal in her RM7.1 million money-laundering and tax evasion case.&nbsp;

Rosmah acquitted in RM7.1m money-laundering and tax evasion case

The Indonesian arm of Malaysia-based home improvement retailer Mr DIY Group (M) Bhd (KL:MRDIY) shook off a wobbly start to rise on its stock market debut on Thursday.

Indonesian arm of Mr DIY climbs on market debut

Shares of YTL Corporation Bhd (KL:YTL) and its associate YTL Power International Bhd (KL:YTLPOWR) soared in early trade on Thursday, a day after YTL Power said the Malaysian Anti-Corruption Commission (MACC) has cleared the group of any wrongdoing in the 1BestariNet project.

YTL Corp, YTL Power soar in early trade after MACC clears subsidiary of wrongdoing in 1BestariNet project

Stocks around the world tumbled on Thursday, with the 10-year US Treasury yield at its highest since May, a day after the Federal Reserve said it would temper the pace of rate cuts, kicking off a busy 24 hours for other central banks.

NEW YORK (Dec 19) :&nbsp;Federal&nbsp;Reserve chair Jerome Powell said on Wednesday the U.S. central bank has no desire to be involved in any government effort to&nbsp;stockpile&nbsp;large amounts of bitcoin.

Powell says Fed cannot hold bitcoin, not seeking to change that

KUALA LUMPUR (Dec 19): Aluminium products maker Winstar Capital Bhd (KL:WINSTAR) rose 40% on its ACE Market trading debut on Thursday.

Winstar Capital rises 40% on ACE Market debut

Shares of Malaysian Resources Corporation Bhd (KL:MRCB) slipped to a four-month low in early trade after the group was said to have withdrawn from the Berjaya Group-led consortium vying for the Kuala Lumpur-Singapore high-speed rail (HSR) project.

MRCB slips to four-month low after group was said to have withdrawn from HSR-bidding consortium

KUALA LUMPUR (Dec 19): Datin Seri Rosmah Mansor has pronounced the court’s decision to acquit her of all 17 charges in her money-laundering and tax evasion case as “justice”.

Rosmah celebrates acquittal: ‘This is what I call justice’

Property developer Mah Sing Group Bhd (KL:MAHSING) has acquired 5.99 acres of land in Taman Pelangi, Johor, from S P Setia Bhd (KL:SPSETIA) for RM156.8 million to develop a premium serviced apartment project.

Mah Sing acquires Johor land from S P Setia for RM157 mil

High Court judge Wan Muhammad Amin Wan Yahya has taken over a civil suit against former prime minister Datuk Seri Najib Razak's wife, Datin Seri Rosmah Mansor, and a Singaporean woman, Shabnam Naraindas Daswani, involving the purchase of luxury goods using funds allegedly diverted from 1Malaysia Development Bhd (1MDB).

Third judge takes over 1MDB's US$346 mil suit against Rosmah and Singaporean woman

The costly truth about US government shutdowns: They don’t save taxpayers a dime.

Trump, Musk threaten government shutdown. Here’s what that costs

KUALA LUMPUR (Dec 19): The Malaysian Anti-Corruption Commission (MACC) has announced that no charges will be filed against any parties involved in the 1BestariNet project tender under the Ministry of Education (MOE).

No charges filed in 1BestariNet tender investigation, says MACC

Companies that spent billions on poorly timed acquisitions in recent years are now offloading those assets at knockdown prices. 
&nbsp; 
Alibaba Group Holding Ltd announced on Tuesday it’s going to sell Chinese department-store chain Intime to a local apparel group for US$1 billion (RM4.47 billion).

Companies that spent billions on M&A are now selling for peanuts

KUALA LUMPUR (Dec 19): Aluminium products maker Winstar Capital Bhd (KL:WINSTAR) is expecting sales to grow in 2025, with the removal of China’s export tax rebates for aluminium products, and the upcoming implementation of the fifth iteration of Malaysia’s large scale solar programme (LSS5).

Winstar eyes sales growth amid China tax shift, LSS5 opportunities

(Dec 19):&nbsp;Global investors are looking to Southeast Asia for some shelter, as they brace for uncertainties surrounding Donald Trump’s trade policies, boosting prospects for the region’s stocks in the coming year.

Southeast Asian stocks to offer shelter amid Trump threat — analysts

(Dec 19):&nbsp;A look at the day ahead in Asian markets.

Fed's 'hawkish cut' slams markets, BOJ up next

WASHINGTON (Dec 18):&nbsp;The US central bank lowered interest rates on Wednesday, but&nbsp;Federal Reserve chair Jerome Powell said more reductions in borrowing costs hinge on further progress in lowering stubbornly high inflation, remarks that showed policymakers are beginning to reckon with the prospects for sweeping economic change under an incoming Trump administration.

Fed lowers rates but sees fewer cuts in 2025 due to stubbornly high inflation

(Dec&nbsp;19) :&nbsp;The Federal Reserve’s waning enthusiasm for rate cuts jarred US markets on Wednesday, sending stocks lower and pushing Treasury yields and the dollar sharply higher. It was the worst loss for the S&amp;P 500 on the day of a rate decision since 2001.

S&P 500 sees worst Fed day since 2001; yields up

BENGALURU (Dec 18): Micron Technology&nbsp;forecast quarterly revenue and profit below Wall Street estimates on Wednesday, sending shares lower as weak demand for consumer-centric products such as personal computers and smartphones impacts the chipmaker's business.

Micron shares tumble as quarterly forecast signals sluggish consumer demand

The government’s proposal to introduce a Diagnostic-Related Group (DRG) payment system to regulate private healthcare costs may face significant challenges and feasibility issues, according to Hong Leong Investment Bank (HLIB).