<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 20): Pentamaster Corp Bhd rose as much 4.30% this morning following several boardroom changes it announced Tuesday.</p></div>

<div class=newsTextDataWrapInner><p>At 9.25am, Pentamaster was up 3.91% or 10 sen to RM2.66 with 1.66 million shares traded. The stock had earlier risen to a high of RM2.69.</p></div>

<div class=newsTextDataWrapInner><p>The company has redesignated its executive chairman Chuah Choon Bin to non-executive chairman, while its independent and non-executive director Sim Seng Loong, 50, and executive director Gan Pei Joo, 41, have both resigned.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The company explained that the resignations are due to the board's restructuring in preparation for the proposed listing of the company's automated solution business through Pentamaster International Ltd on the Main Board of the Stock Exchange of Hong Kong Ltd.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, Lee Kean Cheong, an independent and non-executive director of Teo Guan Lee Corp Bhd and Petrol One Resources Bhd, has been appointed as Pentamaster’s independent and non-executive director.</p></div>


KUALA LUMPUR (Dec 20): Pentamaster Corp Bhd rose as much 4.30% this morning following several boardroom changes it announced Tuesday.

At 9.25am, Pentamaster was up 3.91% or 10 sen to RM2.66 with 1.66 million shares traded. The stock had earlier risen to a high of RM2.69.

The c...

Pentamaster up 4.30% following boardroom changes 

US services activity expanded in November at the slowest pace in three months as demand and employment growth settled back, indicating the largest part of the economy is losing momentum.

US services activity expands at slowest pace in three months 

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

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Binasat Communications Bhd (KL:BINACOM) has proposed to undertake a private placement to finance the acquisition of several properties.

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AstraZeneca plc has appointed Iskra Reic as executive vice-president of its international business, replacing Leon Wang who is under investigation by Chinese authorities.

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A consortium seeking to buy out Hong Kong-listed ESR Group Ltd has submitted a binding offer for the logistics real estate firm, a move that would bring the months-long takeover pursuit one step closer to an end.

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The two-day Asean Senior Economic Officials Meeting (SEOM) Retreat 2025, which ends on Thursday, is a vital preparatory meeting aimed at updating outstanding issues from the previous Asean chairmanship.

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US private payrolls increased at a moderate pace in November, while annual wages for workers staying in their jobs edged up for the first time in 25 months.

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Canary Wharf Group’s bondholders have agreed to let the London docklands developer raise new debt, according to a regulatory filing, paving the way for it to refinance around £600 million (RM3.38 billion) of maturing notes.

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The Dewan Rakyat on Wednesday approved the Commercial Vehicles Licensing Board (Amendment) 2024 Bill, which, among others, introduces the legal basis to address the issue of illegal or unauthorised bus ticket sales in Sabah, Sarawak and Labuan.

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<p>The Employees Provident Fund (EPF) has emerged as a substantial shareholder in Mega First Corporation Bhd (KL:MFCB), after raising its direct stake in the utility conglomerate company to 5.99%, comprising 56.54 million shares.</p>


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<p>TMC Life Sciences Bhd (KL:TMCLIFE) said its suspended CEO, Wan Nadiah Wan Mohd Abdullah Yaakob, has been found guilty of misconduct following a domestic inquiry.</p>

<p>“Pursuant to the said domestic inquiry and upon deliberation by the independent domestic inquiry panel, Puan Nadiah has been found guilty of all five charges of misconduct levelled against her,” TMC told Bursa Malaysia on Wednesday.</p>


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<p>Public Bank Bhd (KL:PBBANK) said on Wednesday it has completed the acquisition of 175.9 million shares, representing a 44.15% stake, in insurer LPI Capital Bhd (KL:LPI).</p>


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<p>UEM Sunrise Bhd (KL:UEMS) has announced the resignation of its chief executive officer, Sufian Abdullah, which will take effect from Feb 28, 2025.</p>

<p>The property developer said in a statement on Wednesday that Sufian, who was appointed to the post on Feb 2, 2021, had tendered his resignation on Nov 29 to pursue other opportunities. &nbsp;</p>


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<p>Public Bank Bhd (KL:PBBANK) will redeem its RM500 million subordinated sukuk murabahah on Dec 18, five years earlier than its maturity date of Dec 18 in 2029.</p>

<p>The third-largest bank in the country by assets on Wednesday said that the subordinated notes had a coupon rate of 3.72% per annum.</p>


Public Bank makes early redemption of RM500 mil sukuk

<p>Terengganu-based mechanical and engineering services provider Enproserve Group Bhd has filed for an initial public offering (IPO) on Bursa Malaysia’s ACE Market to raise funds for its business expansion.</p>


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<p>Cash-rich Apollo Food Holdings Bhd’s (KL:APOLLO) net profit grew 6.7% year-on-year for the second quarter, supported by higher domestic and export sales.</p>


Apollo Food declares 30 sen dividend; net profit up 6.7% in 2QFY2025 

<p>Former prime minister Datuk Seri Najib Razak has once again alluded to the fabrication of his signature in 1Malaysia Development Bhd (1MDB)-related documents implicating him in the multibillion-dollar scandal.</p>


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<p>After nearly two decades on the run, a Singaporean tycoon involved in a US$51 million (RM227 million) misappropriation case was finally arrested with his wife in Johor on Tuesday.</p>


MACC helped nab Singapore tycoon after 19-year manhunt, says Azam Baki

<p>One of the partners at Zaid Ibrahim, Suflan TH Liew and Partners (ZIST) has related how difficult it was for the firm to work with Messrs Shafee &amp; Co when dealing with Datuk Seri Najib Razak’s final appeal in the SRC International Sdn Bhd case at the Federal Court two years ago, including problems with obtaining the full documentation needed to prepare for Najib's appeal.</p>


Lawyer relates how difficult it was to get documents from Shafee & Co to mount Najib's final appeal  

<p>The Penang High Court on Wednesday ordered Kepala Batas Member of Parliament (MP) Dr Siti Mastura Muhammad to pay RM750,000 in total to three DAP stalwarts — Tan Sri Lim Kit Siang, Lim Guan Eng and Teresa Kok — over her claims that they were related to Communist Party of Malaya leader Chin Peng.</p>


Penang High Court orders Siti Mastura to pay RM750,000 to DAP trio for defamation

<p>The government has assured that the integrity of data, especially the people’s information of this country, will always be safeguarded, said Home Minister Datuk Seri Saifuddin Nasution Ismail.</p>


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


<p>Former prime minister Datuk Seri Najib Razak has disputed the claim that 1Malaysia Development Bhd (1MDB), a company which fell under Ministry of Finance (MOF), had practised a "top-down approach".</p>


1MDB-Tanore: Najib disputes witnesses’ claim of 'top-down' approach in 1MDB

<p>Sentoria Group Bhd (KL:SNTORIA) said it has triggered Bursa Malaysia's Practice Note 17 (PN17) criteria after its shareholders’ equity fell to 33% of its issued and paid-up capital, based on its just released financial statement for the year ended Sept 30, 2024 (FY2024).</p>


Sentoria triggers PN17 critera

<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Wednesday.</p>


FBM KLCI up 0.44% to 1,614.09 on Dec 4, 2024

<p>ACE Market-listed Focus Dynamics Group Bhd (KL:FOCUS) has proposed a share capital reduction to wipe out up to RM126.8 million of the company’s accumulated losses.</p>


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<p>The unemployed are having a harder time finding jobs in the US, a trend that’s casting a shadow over other statistics showing a resilient labor market with few outward signs of trouble.</p>


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<p>(Dec 4):&nbsp;Damac Group, backed by billionaire developer Hussain Sajwani, plans to invest about US$3 billion (RM13.35 billion) to build data centres across Southeast Asia, as the region becomes a hub for artificial intelligence (AI) and cloud services.&nbsp;</p>


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<p>Another advocacy group, representing a coalition of media organisations, journalists and civil society advocates, has voiced&nbsp;its opposition against the government's proposed amendments to media-related laws, claiming that the changes pose a serious threat to press freedom, freedom of expression and democratic governance in Malaysia.</p>
