<div class=newsTextDataWrapInner><p>This article first appeared in <em>The Edge Financial Daily,</em> on April 19, 2016.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>KUALA LUMPUR: The Ministry of Finance (MoF) reiterated yesterday that it would continue to honour all of its outstanding commitments in the financial markets.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>This follows 1Malaysia Development Bhd’s (1MDB) statement yesterday that it would meet all of its obligations under “any other financing arrangements” and it has ample liquidity to do so, on the heels of its dispute with the Abu Dhabi-based fund International Petroleum Investment Co (IPIC) on certain debt obligations.</p></div>

<div class=newsTextDataWrapInner><p>“The MoF of the government of Malaysia has been informed by its wholly-owned subsidiary 1MDB that it is in dispute with the International Petroleum Investment Co concerning, among other things, the obligations of 1MDB and IPIC in respect of certain publicly issued notes,” the statement read.</p></div>

<div class=newsTextDataWrapInner><p>“The MoF wishes to make clear that it will continue to honour all of its outstanding commitments in the financial markets,” it added.</p></div>


This article first appeared in The Edge Financial Daily, on April 19, 2016.

 

KUALA LUMPUR: The Ministry of Finance (MoF) reiterated yesterday that it would continue to honour all of its outstanding commitments in the financial markets.

This follows 1Ma...

MoF will continue to honour ‘outstanding financial commitments’

The Canadian economy eked out a small gain last month after a weaker-than-forecast third quarter (3Q), keeping the Bank of Canada on track to keep cutting rates.

Preliminary data suggest gross domestic product (GDP) rose 0.1% in October, Statistics Canada said on Friday.

Weak 3Q growth to keep Bank of Canada cutting rates

ROME (Nov 29): A nationwide strike in Italy on Friday disrupted air traffic, public transport, schools and hospitals, in a protest by two of the country's largest unions against Prime Minister Giorgia Meloni's government budget plans.

CGIL, Italy's biggest union, said it was opposing pl...

Italy's unions vow to turn country 'upside down' after national strike

Selangor Agricultural Development Corporation’s (PKPS) Ehsan Rose Onion Crop project has managed to produce 28 tonnes of the small red onion in the first phase of its harvest involving 3.2 hectares (ha) of land.

First phase of PKPS Ehsan Rose Onion project yields 28 tonnes

World Trade Organization chief Ngozi Okonjo-Iweala was reappointed for a second term at a special meeting on Friday, the trade watchdog said, meaning her tenure will coincide with US President-elect Donald Trump's second administration.

WTO chief Okonjo-Iweala reinstated for second term as trade wars loom 

US trade officials are expected to announce on Friday a new round of tariffs on solar panel imports from four Southeast Asian nations after American manufacturers complained that companies there are flooding the market with unfairly cheap goods.

US to decide on another round of solar panel tariffs

Bursa Malaysia has approved Practice Note 17 (PN17) company Pharmaniaga Bhd’s (KL:PHARMA) regularisation plan, which was revised to adjust its capital reduction and exclude warrants from its rights issue, exactly a year after the initial iteration was announced.

A year on, Pharmaniaga finally gets Bursa nod on regularisation plan

Nextgreen Global Bhd (KL:NGGB) saw a more than fourfold increase in its net profit for the third quarter ended Sept 30, 2024 (3QFY2024), driven by strong performance in its manufacturing segment.

Nextgreen Global's 3Q net profit quadruples on strong manufacturing performance

Lotte Chemical Titan Holding Bhd (KL:LCTITAN) has appointed a new president and chief executive officer as part of changes in board representatives of its South Korean parent company.

Lotte Chemical Titan appoints new CEO, executive director

A weekly round-up of tanker and dry bulk market (Nov 29, 2024)

Baltic Exchange shipping updates: Nov 29, 2024

Casual wear giant Uniqlo is facing a storm of online criticism in China, after a BBC report quoted the chief executive officer of its owner as saying the company does not source cotton from the far western region of Xinjiang.

Uniqlo criticised in China after BBC report of CEO's Xinjiang comments

<p>Hextar Industries Bhd (KL:HEXIND) said on Friday it has signed an agreement to bring in Chinese coffee house chain Luckin Coffee to Malaysian shores.</p>


Hextar Industries gets exclusive rights to bring in Luckin Coffee chain

<p>The sentence against Muar Member of Parliament Syed Saddiq Syed Abdul Rahman in his criminal case was not excessive, partly because as a lawmaker and an "idol" for youngsters, he should be held to a "higher standard", said the judge who convicted the young MP for misappropriation of party funds.</p>


High Court: Sentence in Syed Saddiq's criminal case, which includes two strokes of the cane, not excessive

<p>Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest bank by assets, said on Friday that its net profit rose 12% in the third quarter from a year earlier, thanks to operating income growth.</p>


Public Bank’s 3Q net profit rises 12% as both interest, non-interest income grow

<p>CelcomDigi Bhd (KL:CDB) on Friday named Dennis Chia as chief financial officer effective Jan 2, 2025 at the country’s largest mobile network operator by subscribers.</p>


CelcomDigi names ex-StarHub CFO Dennis Chia as new finance chief

<p>Sapura Energy Bhd (KL:SAPNRG) announced on Friday the impending departure of its chairman Datuk Mohammad Azlan Abdullah and chief executive officer Datuk Mohd Anuar Taib.</p>


Sapura Energy announces departure of chairman and CEO

<p>RHB Bank Bhd (KL:RHBBANK), the country’s fourth-largest lender by assets, announced that its third-quarter net profit grew 28% from a year earlier as the banking group booked sharp currency gains of RM659.86 million.</p>


RHB Bank's 3Q earnings grow 28% 

<p>Shares of Tenaga Nasional Bhd (KL:TENAGA) fell on Friday to their lowest in nearly four months, after the national electric utility reported weaker-than-expected third-quarter earnings.</p>


TNB falls to near four-month low on weaker-than-expected 3Q

<p>A port, a theme park and maybe even a Formula 1 race — those are just some of the things that one of Indonesia’s richest men believes can be hosted at his ambitious real estate project in North Jakarta.</p>


Indonesian tycoon eyes theme park, F1 in US$16b project

<p>Low-cost, medium-haul airline AirAsia X Bhd (KL:AAX) reported a surge in net profit for the third quarter, as currency gains and higher revenue offset a jump in operating expenses.</p>

<p>Net profit for the quarter ended Sept 30, 2024 (3QFY2024) was RM121.64 million, a 22-time jump when compared to the same quarter last year, AirAsia X said in an exchange filing. The company booked RM125.29 million from both realised and unrealised net foreign exchange gains.</p>


AirAsia X reports 22-fold jump in net profit on currency gains

<p>Casual wear giant&nbsp;Uniqlo&nbsp;is facing a storm of online criticism in China, after a <em>BBC</em> report quoted the chief executive officer of its owner as saying the company does not source cotton from the far western region of Xinjiang.</p>


<p>(Nov 29):&nbsp;A return to profitability in e-commerce for Sea Ltd&nbsp;has analysts turning even more bullish on its stock, after a rally that has added US$43 billion (RM190.9 billion) to its market value so far this year.</p>


Sea’s profit draws bullish analyst calls after US$43b rally

<p>Velesto Energy Bhd (KL:VELESTO) on Friday said its subsidiary Velesto Drilling Sdn Bhd (VED) has received a notice of suspension for the jack-up rig Naga 8 contract from Carigali Hess Operating Company Sdn Bhd.</p>


Carigali Hess suspends Velesto's Naga 8 jack-up rig contract as drilling work completed early

<p>TSMC's founder Morris Chang asked Nvidia's Jensen Huang to consider becoming the chief executive of the Taiwanese chip giant more than a decade ago, but was turned down in just 10 minutes, Chang says in a new volume of autobiography.</p>


TSMC founder Morris Chang offered top job to Jensen Huang, memoir shows

<p>KUALA LUMPUR (Nov 29): CIMB Group Holdings Bhd (KL:CIMB) is expected to achieve its return on equity (ROE) target for 2024, after its 3QFY2024 results exceeded expectations, analysts said on Friday.</p>


CIMB on track to meet ROE target after 3Q results beat estimates

<p>KUALA LUMPUR (Nov 29): Shares of Axiata Group Bhd (KL:AXIATA) rose to a one-month high on Thursday, as investors welcomed a better-than-expected third quarter, while&nbsp;analysts stayed divided amid earnings uncertainties ahead.</p>


Axiata shares rise to one-month high after better-than-expected 3Q, analysts still divided

<p>Velesto Energy Bhd's (KL:VELESTO) shares fell to their lowest in close to two years on Friday, despite reporting a more than 30-fold jump in its third quarter (3Q) net profit, as it flagged a challenging outlook amid slower demand after announcing that a client had suspended the contract of its Naga 8 jack-up rig.</p>


Velesto's share price skids despite 3Q profit jump as it flags slowing demand for jack-up rigs

<p>KUALA LUMPUR (Nov 29): OSK Holdings Bhd’s (KL:OSK) net profit for the third quarter increased 11.55%, boosted by a higher share of results of associates and a joint venture, particularly from RHB Bank Bhd (KL:RHBBANK).</p>


Higher share of RHB earnings boosts OSK’s 3Q net profit

<p>IGB Bhd (KL:IGBB) has declared a dividend payout of 12 sen per share for FY2024 — comprising an interim dividend of seven sen and a special dividend of five sen — as its latest third quarter net profit jumped 27% from the corresponding quarter last year, driven by higher contributions from its retail, commercial and hotel segments.</p>


IGB pays 12 sen dividend for FY2024, including a five-sen special, as 3Q profit jumps 27%

<p>Muar Member of Parliament&nbsp;Syed Saddiq Syed Abdul Rahman said on Friday that he will immediately file an appeal against the conviction and sentence handed down to him by the High Court&nbsp;in his criminal breach of trust (CBT) and money-laundering case, after finally receiving the full written judgement.</p>


Syed Saddiq to immediately file graft appeal after finally receiving written judgement

<p>Steel Hawk Bhd (KL:HAWK), an oil and gas services provider listed on the ACE Market on Sept 5, has secured five packages to provide construction and modification works for Petroliam Nasional Bhd (Petronas) and 27 of the national oil company’s downstream operating plant units.</p>
