<div class=newsTextDataWrapInner>SINGAPORE (Oct 13): Notable asset trader Oei Hong Leong, the second largest shareholder of Raffles Education, is calling for an EGM to oust chairman Chew Hua Seng.</div>

<div class=newsTextDataWrapInner>Besides seeking Chew’s removal, Oei also wants to know the identities of the subscribers of a recent placement of 95 million new shares.</div>

<div class=newsTextDataWrapInner>The company revealed this in a regulatory filing late on Friday evening, citing a meeting requisition notice it had received from Oei earlier in the day... <a href="https://www.theedgesingapore.com/oei-hong-leong-calls-egm-raffles-education-oust-chairman-chew-hua-seng" target="_blank">(Click here to read the full story.)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (Oct 13): Notable asset trader Oei Hong Leong, the second largest shareholder of Raffles Education, is calling for an EGM to oust chairman Chew Hua Seng.

Besides seeking Chew’s removal, Oei also wants to know the identities of the subscribers of a recent placement of 95 millio...

Oei Hong Leong calls for EGM at Raffles Education to oust chairman Chew Hua Seng

Americans are coming to terms with renting as an alternative to an increasingly unaffordable market for homebuyers.
 
The share of respondents who say they’d rent if they were going to move rose to a record 36% in a new survey by Fannie Mae, the government-backed mortgage finance giant.

Americans prefer to rent with market beyond reach of homebuyers

Human capital management provider Ramssol Group Bhd (KL:RAMSSOL) said its 51%-owned subsidiary in Thailand has secured a contract worth 275 million baht (RM35.61 million) to undertake an artificial intelligence (AI) healthcare solutions project for a hospital.

Ramssol’s unit bags RM36 mil AI-powered healthcare project in Thailand

Donald Trump should call President Vladimir Putin to open up a line of communications with Russia and ultimately push towards a ceasefire in Ukraine, Hungarian Prime Minister Viktor Orban’s top aide said.

Trump should call Putin to push Ukraine peace, says Orban aide 

Under Armour Inc reported results that surpassed analysts’ expectations as the sportswear company’s turnaround gains momentum under founder Kevin Plank.
 
In the second quarter, which went through September, sales and adjusted earnings topped the average estimate from analysts.

Under Armour surges as turnaround led by founder gains steam

Carlyle Group Inc top boss Harvey Schwartz said the clear outcome to the presidential election will give corporate chiefs and investors more security to make big decisions and do more deals.
 
“Being past the election has removed market uncertainty,” Carlyle’s chief executive officer said on an analyst call on Thursday, after the firm reported its third-quarter financial results.

Carlyle CEO says swift US election results will recharge dealmaking

The head of HSBC Holdings plc’s new global wholesale banking division said the lender will seek to wrap up an ongoing restructuring “very quickly” and could announce the first round of job cuts within weeks.

HSBC’s Roberts says first round of job losses coming in weeks

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 

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.

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

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).

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

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.

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

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.

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

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.

Petronas lifts force majeure on gas supply from Malaysia LNG Dua

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.

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

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.

Malaysia launches InvestMalaysia portal to attract global investors

Road infrastructure construction firm Azam Jaya Holdings Bhd (KL:AZAMJAYA), set to list on the Main Market of Bursa Malaysia next Monday (Nov 11), reported a net profit of RM4.65 million or 0.93 sen per share for its second quarter ended June 30, 2024 (2QFY2024).

Construction firm Azam Jaya posts RM4.65 mil profit in 2Q ahead of listing

TMK Chemical Bhd said it has signed a retail underwriting agreement with Maybank Investment Bank Bhd in conjunction with the chemical company's initial public offering (IPO) on the Main Market of Bursa Malaysia.

TMK Chemical inks underwriting deal with Maybank for Main Market IPO

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

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

Bank Negara's international reserves dipped to US$117.6 bil as at Oct 30

Falling interest rates in advanced economies will be positive for the ringgit at a time when Malaysia keeps its policy rate unchanged while the economic fundamentals remain healthy, said Bank Negara Malaysia (BNM).

Narrowing interest rate differentials positive for ringgit, backed by solid economic prospects — BNM

CIMB Group Holdings Bhd (KL:CIMB) could post decent earnings growth for the third quarter which could help it achieve its return on equity (ROE) target of 11%-15% this year, despite the slower 4Q expected ahead, analysts said.

Decent 3Q seen for CIMB, analysts say

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

FBM KLCI down 0.67% to 1,623.28 on Nov 7, 2024

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

KUALA LUMPUR (Nov 7): IHH Healthcare Bhd (KL:IHH), via its subsidiary Pantai Holdings Sdn Bhd, has successfully issued its maiden RM4 billion sukuk under its newly established RM15 billion sukuk wakalah programmes, the proceeds of which will go towards funding its acquisition of the 600-bed Island Hospital in Penang, which it announced in September.

IHH issues RM4b sukuk for Island Hospital acquisition, with OCBC as lead arranger

Pentamaster Corp Bhd (KL:PENTA) said its third quarter net profit fall 49.9% to RM11.77 million, from RM23.49 million a year ago, dragged down by lower automated test equipment (ATE) sales performance and foreign exchange losses.

Pentamaster’s 3Q profit halves on lower auto-related sales, forex losses

The US Federal Reserve (Fed) is expected to reduce its benchmark policy rate by a quarter of a percentage point at the end of its policy meeting on Thursday, a decision that may seem a footnote given the uncertain economic terrain the central bank may soon be navigating under a second Trump administration.

Fed to cut rates, but with a new landscape to decipher after Trump win

Nissan Motor said it would slash 9,000 jobs and cut global production capacity by a fifth, while revising its annual profit outlook sharply lower as it battles headwinds in China and the US.

Nissan plans 9,000 job cuts, slashes annual profit outlook

Chinese President Xi Jinping congratulated Donald Trump on his US&nbsp;presidential win, and urged both nations to find the "right way to get along", as looming US&nbsp;tariffs threatened to return them to the days of a trade war years ago.