<div class=newsTextDataWrapInner><p>MELAKA (Nov 20): Perikatan Nasional has won its first seat — Sungai Udang.</p></div>

<div class=newsTextDataWrapInner><p>The EC has officially confirmed PN's victory in a Barisan Nasional stronghold.</p></div>

<div class=newsTextDataWrapInner><p>PN-Bersatu's Dr Mohd Aleef Yusof garnered 6,789 votes versus BN-UMNO's Datuk Seri Mohamad Ali Mohamad who had 6,259 votes. &nbsp;&nbsp; &nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>PH-PKR Hasmorni Tamby received 2,035 votes while Independent Mohd Zahar Hashim had 471 votes.</p></div>


Perikatan Nasional has won its first seat — Sungai Udang.

The EC has officially confirmed PN's victory in a Barisan Nasional stronghold.

Official: PN wins in Sungai Udang

Federal Reserve officials in December adopted a new stance on rate-cutting amid elevated inflation risks, deciding to move more slowly in the months ahead.

“Participants indicated that the committee was at or near the point at which it would be appropriate to slow the pace of policy easing,” minutes from the Federal Open Market Committee’s Dec. 17-18 gathering showed.

Fed minutes show officials were eager to slow interest-rate cuts

Stock traders refrained from making big bets, with the market set to close on the eve of Friday’s jobs report. Treasuries rebounded as a solid $22 billion sale brought a degree of relief after the recent selloff.

Equities swung between small gains and losses throughout the session, with the S&P 500 reclaiming the 5,900 psychological mark after briefly falling below it.

Wall Street braces for jobs jolt as stocks churn

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

Reservoir Link, Swift Energy, MAHB, Aeon, Ahmad Zaki, CJ Century Logistics, UUE, Erdasan, Edaran, Lim Seong Hai Capital, Fibromat

KUALA LUMPUR, 6 JANUARY 2025 – Over the years HSBC has continued its tradition of giving its customers uniquely designed ‘lai-see’ (利是) or ‘hong-bao’ (红包) packets, that is much sought-after during Chinese New Year as a symbol of good fortune and well-being for generations of families.

HSBC Malaysia rings in Chinese New Year with Prosperity Rice and Prosperity Water for Premier Customers

A private contractor suffered a massive loss of more than RM5.9 million after he was scammed by a non-existent investment scheme via Facebook.

Selangor police chief Datuk Hussein Omar Khan said the 58-year-old victim began participating in the investment in September after he was attracted to the impressive-sounding credentials of an investment advertisement by a "Davidson Kempner Capital Management (DKCM MYS-C)" advertised on the social media site.

Contractor loses more than RM5.9 mil in investment scam

Practice Note 17 (PN17) company Annum Bhd (KL:ANNUM) has appointed Messrs LTTH PLT as its auditor, effective Wednesday.

Annum parts ways with auditor who couldn't vouch for company's financials, appoints new one

Malaysia welcomes direct investment from Indonesian companies and encourages strategic collaborations such as mergers between companies owned by Malaysian and Indonesian entities, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia welcomes Indonesian investment, strategic mergers, says Anwar

US stocks dipped on Wednesday, as uncertainty prevailed on Wall Street after the release of two sets of jobs data and a report that said President-elect Donald Trump was mulling a national economic emergency declaration.

Wall Street slips as investors assess data, report of Trump's economic emergency

UK markets tumbled, pushing bond yields to the highest in more than a decade, as jitters over persistent inflationary pressures sparked unnerving comparisons with the 2022 gilt crisis.

Benchmark 10-year yields jumped as much as 14 basis points to 4.82%, the highest since August 2008.

UK 10-year yields hit highest since 2008 as market rout deepens

The new, interim leader of Austria's conservatives demanded assurances from the far right on Wednesday that they want to keep Austria free from Russian interference, laying out potential flashpoints as they head into coalition talks.

Austrian conservatives in coalition talks want far-right assurances of no interference from Russia

<p>The level of acceptances of the takeover offer by Gateway Development Alliance (GDA), the consortium proposing to privatise Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT), has reached 83.04% as of the first closing date of Jan 8.</p>

<p>On top of that, a total of 18.18 million shares, representing a 1.09% stake, has also been transferred to the offerors but pending receipt of the acceptance document.</p>


Khazanah-EPF-led consortium amasses 84% stake in MAHB, seven working days left to meet 90% condition

<p>The three biggest banks in Singapore — Oversea-Chinese Banking Corp (OCBC), DBS Group Holdings Ltd and United Overseas Bank (UOB) — closed at all-time highs on Wednesday after Malaysia and Singapore signed the Johor Singapore Special Economic Zone (JS-SEZ) agreement.</p>


Singaporean banks reach all-time high after JS-SEZ agreement

<p>US President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, <i>CNN</i> reported on Wednesday, citing sources familiar with the matter.</p>


Trump mulls national economic emergency declaration to allow for new tariff programme — report

<p>Despite a quality education and extensive experience in politics and governance, Datuk Seri Najib Razak disagreed that it would be impossible for him to be misled on national level affairs.</p>


1MDB-Tanore: Najib says despite education and intelligence, still possible to be misled 

<p>The directors of UUE Holdings Bhd, an underground utilities engineering firm, have collectively disposed of shares valued at RM29.14 million on the ACE Market to institutional funds, following the expiry of the typical six-month moratorium period on directors' shares after the company's initial public offering (IPO).</p>


UUE Holdings directors sell RM30m worth of shares

<p>Global Development Alliance’s (GDA) inability) to secure 90% shareholder acceptance for its takeover of Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT) by the initial Jan 8, 2025, deadline is an indication of the government’s failure and investors’ rejection of the privatisation plan, said Machang MP Wan Ahmad Fayhsal Wan Ahmad Kamal.</p>


Inability to meet 90% acceptance for MAHB takeover signals govt failure — Perikatan MP

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


<p>CJ Century Logistics Holdings Bhd (KL:CJCEN) has appointed Kim HyunChul as its new deputy chief executive officer (CEO), succeeding Kim JinMok, who resigned after nearly two years of service with the company.</p>


CJ Century Logistics names Kim HyunChul as new deputy CEO

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EVENING 5: Five things you need to know today

<p>Aeon Co (M) Bhd (KL:AEON) announced on Wednesday that the High Court has granted the company a conditional stay of the judgment issued on Dec 16, 2024, which found Aeon in breach of a tenancy agreement with Betanaz Properties Sdn Bhd, a 51%-owned subsidiary of Ahmad Zaki Resources Bhd (KL:AZRB).</p>


Aeon gets stay of High Court ruling in tenancy dispute with Ahmad Zaki unit, pending appeal 

<p>Iskandar Investment Bhd (IIB) reaffirmed its commitment to collaborating with stakeholders, including government agencies and international partners, to ensure the success of the Johor-Singapore Special Economic Zone (JS-SEZ).</p>


Iskandar Investment reaffirms commitment to collaborate with stakeholders for Johor-Singapore Special Economic Zone 

<p>Erdasan Group Bhd, formerly known as AT Systematization Bhd, has proposed a share capital reduction to eliminate up to RM100 million of its accumulated losses.</p>

<p>The move is part of the group's strategy to align its capital structure with its current and future business needs, according to Erdasan.</p>


Erdasan Group, formerly AT Systematization, proposes share capital reduction to wipe out losses

<p>Micron Technology Inc is investing US$7 billion (RM31.5 billion) over the next several years to expand its manufacturing footprint in Singapore, as artificial intelligence boosts demand for advanced memory chips.</p>


Micron to spend US$7b building Singapore memory chip plant

<p>Chinese investors are buying up large amounts of Hong Kong mutual fund products that invest overseas, particularly bonds, after authorities expanded a cross-border trading channel this month and opened for them an avenue to get better yields.</p>


Chinese money rushes offshore via Hong Kong mutual funds after limits relaxed

<p>Greenland may become independent if its residents want, but it won't become a US state, Denmark's foreign minister said on Wednesday after US President-elect Donald Trump refused to rule out force to take control of the Arctic island.</p>


Greenland may become independent, but not a US state, Denmark says

<p>A private contractor suffered a massive loss of more than RM5.9 million after he was scammed by a non-existent investment scheme via Facebook.</p>

<p>Selangor police chief Datuk Hussein Omar Khan said the 58-year-old victim began participating in the investment in September after he was attracted to the impressive-sounding credentials of an investment advertisement by a "Davidson Kempner Capital Management (DKCM MYS-C)" advertised on the social media site.</p>


<p>The Malaysian Anti-Corruption Commission (MACC) has arrested eight individuals, including a government agency director and three company directors, on suspicion of involvement in bribery related to the approval of Commercial Vehicle Licences (LKP) without meeting required conditions.</p>


Four directors among eight held by MACC over alleged vehicle licence bribery

<p>The sister of billionaire OpenAI chief executive Sam Altman filed a lawsuit accusing him of sexually abusing her regularly between 1997 and 2006, prompting him and other family members to deny her claims.</p>


OpenAI chief Sam Altman denies sexually abusing sister, after she sues him

<p>Federal Reserve governor Christopher Waller said he believes inflation will continue to cool toward the central bank’s 2% target, prompting his support for additional interest-rate cuts this year.</p>


US Fed’s Waller supports further cuts, says inflation moving lower

<p>Meta said on Wednesday it would launch a test in Germany, France and the United States that will enable buyers to browse listings from eBay on Facebook Marketplace and then complete their transactions on eBay.</p>
