<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 19): Orion IXL Bhd's co-founder and chief executive officer (CEO) Abdul Rani Achmed Abdullah has ceased to be a substantial shareholder in the company, after disposing of 6.34% indirect stake.</p></div>

<div class=newsTextDataWrapInner><p>In a filing today, Orion IXL said Abdul Rani’s effective stake in the company was reduced to 3.9%, after Winnova Resources Sdn Bhd — where Abdul Rani is a shareholder — sold 38 million Orion IXL shares in the open market on Oct 12.</p></div>

<div class=newsTextDataWrapInner><p>Winnova Resources also sold of 27.91 million or 11.98% of Orion IXL warrants on the same date, leaving Abdul Rani with 2.63 million warrants or 1.13%.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Meanwhile, another Orion IXL non-executive director Yahya Razali reduced his stake in the company to 21.04%, from 24.38% previously, after having sold 20 million shares in the open market between Oct 16 and Oct 17.</p></div>

<div class=newsTextDataWrapInner><p>Yahya also disposed of 18.78 million warrants in Orion IXL or 8.06% between Oct 12 and Oct 16, leaving him with a 20.95% holding of the securities.</p></div>

<div class=newsTextDataWrapInner><p>At 5pm, shares of Orion IXL slipped 3.85% or half a sen to its 4-year low of 12.5 sen, with 12.34 million shares traded. At its last traded price, Orion IXL has a market capitalisation of RM74.87 million.</p></div>


KUALA LUMPUR (Oct 19): Orion IXL Bhd's co-founder and chief executive officer (CEO) Abdul Rani Achmed Abdullah has ceased to be a substantial shareholder in the company, after disposing of 6.34% indirect stake.

In a filing today, Orion IXL said Abdul Rani’s effective stake in the compan...

Orion IXL founder ceases to be substantial shareholder

To those following healthcare issues in the country, it may appear that the Ministry of Health (MOH) has been under siege recently, having been bombarded by complaints and criticisms from all sides as it grapples with deep-rooted systemic issues in the public as well as the private healthcare system.

Healthcare reforms: Dzulkefly pledges action amid criticism

Have you ever wondered where your money goes when you place a minimum bet of RM2 on a lottery ticket?

It’s been a week since Malaysians flocked to Sports Toto Bhd's (KL:SPTOTO) outlets nationwide, eager to try their luck at the record-breaking RM100 million Supreme 6/58 jackpot.

Where does a RM2 bet on Sports Toto go?

Meta Platforms Inc plans to invest as much as US$65 billion (RM288.56 billion) on projects related to artificial intelligence (AI) in 2025, including building a giant new data centre and increasing hiring in AI teams, chief executive officer Mark Zuckerberg said on Friday.

The company intends to use the funds to build a data centre “so large that it would cover a significant part of Manhattan,” Zuckerberg said in a Facebook post.

Zuckerberg says Meta to spend up to US$65 bil on AI this year

Urban development planning in Malaysia must preserve the country’s identity, particularly in terms of its arts and culture, even while embracing advanced technology.

Prime Minister Datuk Seri Anwar Ibrahim said in addition to prioritising organised and systematic planning, cities in the country should also be recognised for their distinct character and uniqueness, setting them apart from major cities like London and those in Japan.

Urban planning in Malaysia must preserve national identity, culture — PM 

Sales of previously owned homes in the US rose for the third straight month in December, entering 2025 with some momentum after the worst year in nearly three decades.

Contract closings of existing homes last month increased 2.2% to an annualised rate of 4.24 million, the most since February, according to National Association of Realtors data released on Friday. That was in line with the estimate of economists surveyed by Bloomberg.

US existing-home sales pick up at end of worst year since 1995

(Jan 24): US Treasury yields have trended up since late last year, and commercial real estate distress risk is straining regional banks’ balance sheets again.

Stocks are already reacting to the higher borrowing costs. Smaller bank shares have fallen about 8.2% since late November a...

Regional banks face headache from rising Treasury yields

The benchmark S&P 500 and the Nasdaq struggled for direction on Friday, as investors avoided big bets and assessed fresh data to gauge the health of the economy, while Boeing dipped after issuing a quarterly profit warning.

A S&P Global survey showed that business activity slowed to a ninth-month low in January amid rising price pressures, but firms reported higher hiring, supporting the Federal Reserve's cautious approach to monetary policy this year.

S&P 500, Nasdaq flat as investors assess economic data; Boeing slips

Sarawak Consolidated Industries Bhd (KL:SCIB) on Friday said that the project developer for the now-scrapped civil servants housing project in Perak has disagreed with the repayment terms, and denied the outstanding debt it owed to the Main Market-listed company.

On Jan 13, SCIB announced that the RM162 million contract awarded to its wholly owned unit, SCIB Properties Sdn Bhd (SCIBP), from Awana JV Suria Saga Sdn Bhd in July 2024 as part of a debt settlement collapsed after Awana failed to fulfil a key condition precedent within the stipulated time frame.

Developer disagrees over repayment conditions, debt owed to SCIB for scrapped Perak housing project

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

MAHB, Gamuda, MRCB, Scientex, Genting Plantations, TMC Life Sciences, Axis REIT, AmanahRaya REIT, Taghill, Chin Hin, Ajiya, TCS 

Changpeng “CZ” Zhao, a few months out of prison and worth US$70 billion (RM310.75 billion)thanks to the relentless crypto rally, is turning the former venture capital (VC) arm of his Binance Holdings Ltd into a family office.
 
Binance Labs, which oversees about US$10 billion of crypto-related assets, will be renamed YZi Labs, according to a statement on Thursday.

Crypto’s richest man turns VC firm into giant family office

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


<p>Changpeng “CZ” Zhao, a few months out of prison and worth US$70 billion (RM310.75 billion)thanks to the relentless crypto rally, is turning the former venture capital (VC) arm of his Binance Holdings Ltd into a family office.<br />
&nbsp;<br />
Binance Labs, which oversees about US$10 billion of crypto-related assets, will be renamed YZi Labs, according to a statement on Thursday.</p>


<p>TMC Life Sciences Bhd (KL:TMCLIFE) warned on Friday that it expects to report a loss for the second quarter ended Dec 31, 2024 (2QFY2025), compared to the net profit recorded in the same period last year.</p>


TMC Life Sciences issues profit warning due to contract issues

<p>Have you ever wondered where your money goes when you place a minimum bet of RM2 on a lottery ticket?</p>

<p>It’s been a week since Malaysians flocked to Sports Toto Bhd's (KL:SPTOTO) outlets nationwide, eager to try their luck at the record-breaking RM100 million Supreme 6/58 jackpot.</p>


<p>The big data analytics (BDA) market is experiencing robust growth globally and in Malaysia, driven by the rising demand for data-driven solutions, said associate professor in Computer Science and head of the School of Mathematical and Computer Sciences at Heriot-Watt University Malaysia, Dr Ian Tan.</p>


Malaysia's big data analytics market poised for robust growth, says expert

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<p>Building and infrastructure construction services provider TCS Group Holdings Bhd (KL:TCS) saw the emergence of a new substantial shareholder.</p>

<p>James Liew Vun Tak acquired an 11.9% stake, equivalent to 71.5 million shares, through a direct business transaction on Friday.</p>


TCS sees emergence of new substantial shareholder with 11.9% stake as MD trims shareholding

<p>Sarawak Consolidated Industries Bhd (KL:SCIB) on Friday said that the project developer for the now-scrapped civil servants housing project in Perak has disagreed with the repayment terms, and denied the outstanding debt it owed to the Main Market-listed company.</p>

<p>On Jan 13, SCIB announced that the RM162 million contract awarded to its wholly owned unit, SCIB Properties Sdn Bhd (SCIBP), from Awana JV Suria Saga Sdn Bhd in July 2024 as part of a debt settlement collapsed after Awana failed to fulfil a key condition precedent within the stipulated time frame.</p>


<p>One of Chicago’s wealthiest families has named new leaders and appointed a board for the dynasty’s business after the death of Jim Crown at a racetrack accident in 2023.</p>

<p>Bill Crown, Jim’s first cousin, will replace him as president and chief executive officer of Henry Crown &amp; Co, according to a statement on Friday. Brother Steve Crown will serve as executive chairman of a board of directors that will have five members.</p>


Billionaire Crown dynasty revamps leadership after death of Jim Crown

<p>Building materials and construction engineering firm Chin Hin Group Bhd (KL:CHINHIN) has proposed to acquire an additional 37.38 million shares or a 12.27% stake in metal roofing and safety glass maker Ajiya Bhd (KL:AJIYA) for RM54.2 million or RM1.45 per share.</p>


Chin Hin raises Ajiya stake by 12.27% to 66.4% for RM54.2 mil

<p>Meta Platforms Inc plans to invest as much as US$65 billion (RM288.56 billion) on projects related to artificial intelligence (AI) in 2025, including building a giant new data centre and increasing hiring in AI teams, chief executive officer Mark Zuckerberg said on Friday.</p>

<p>The company intends to use the funds to build a data centre “so large that it would cover a significant part of Manhattan,” Zuckerberg said in a Facebook post.</p>


<p>The benchmark S&amp;P 500 and the Nasdaq struggled for direction on Friday, as investors avoided big bets and assessed fresh data to gauge the health of the economy, while Boeing dipped after issuing a quarterly profit warning.</p>

<p>A S&amp;P Global survey showed that business activity slowed to a ninth-month low in January amid rising price pressures, but firms reported higher hiring, supporting the Federal Reserve's cautious approach to monetary policy this year.</p>


<p>The recently-busted vape smuggling syndicate is believed to have an international network to make false declarations to mislead the country's authorities.</p>

<p>Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki said the syndicate's tactics made it difficult for the authorities to detect the goods, with the bribes paid making it even harder for them and resulting in the goods not being inspected.</p>


Vape smuggling syndicate believed to have international network

<p>(Jan 24):&nbsp;US Treasury yields have trended up since late last year, and commercial real estate distress risk is straining regional banks’ balance sheets again.</p>

<p>Stocks are already reacting to the higher borrowing costs. Smaller bank shares have fallen about 8.2% since late November a...

<p>The Home Ministry will act as a facilitator to ensure the smooth running of the anti-corruption rally, scheduled to take place in the capital on Saturday, said its minister Datuk Seri Saifuddin Nasution Ismail.</p>

<p>He said that the move aligns with the government’s commitment to uphold the right to freedom of assembly, as guaranteed under the Federal Constitution.</p>


Home Ministry to facilitate anti-corruption rally on Saturday — Saifuddin Nasution

<p>Taghill Holdings Bhd (KL:TAGHILL), formerly known as Siab Holdings Bhd, has secured a RM152 million construction job in Kuantan, Pahang.</p>

<p>Its wholly owned subsidiary, Taghill Projects Sdn Bhd (TPSB), accepted the letter of award (LOA) from Kuantan Waterfront Resort City Sdn Bhd (KWR) for the proposed development of a commercial strata scheme.</p>


Taghill clinches RM152 mil mixed-development project in Pahang 

<p>Urban development planning in Malaysia must preserve the country’s identity, particularly in terms of its arts and culture, even while embracing advanced technology.</p>

<p>Prime Minister Datuk Seri Anwar Ibrahim said in addition to prioritising organised and systematic planning, cities in the country should also be recognised for their distinct character and uniqueness, setting them apart from major cities like London and those in Japan.</p>


<p><strong>A weekly round-up of tanker and dry bulk market (Jan 24, 2025)</strong></p>


Baltic Exchange shipping updates: Jan 24, 2025

<p>Sales of previously owned homes in the US rose for the third straight month in December, entering 2025 with some momentum after the worst year in nearly three decades.</p>

<p>Contract closings of existing homes last month increased 2.2% to an annualised rate of 4.24 million, the most since February, according to National Association of Realtors data released on Friday. That was in line with the estimate of economists surveyed by <em>Bloomberg</em>.</p>


<p>To those following healthcare issues in the country, it may appear that the Ministry of Health (MOH) has been under siege recently, having been bombarded by complaints and criticisms from all sides as it grapples with deep-rooted systemic issues in the public as well as the private healthcare system.</p>
