<div class=newsTextDataWrapInner>(May 28) :The Sultan of Perak, Sultan Azlan Shah, passed away at 1.30 pm today, Perak Menteri Besar Datuk Seri Dr Zambry Abdul Kadir announced over Radio Television Malaysia (RTM). His Royal Highness was 86.</div><div class=newsTextDataWrapInner>Zambry said the late sultan would be laid to rest at the royal mausoleum in Kuala Kangsar after the 'Asar' prayers in the late afternoon tomorrow. </div></div><div class=inPageAd id=div-gpt-ad-inpage>

(May 28) :The Sultan of Perak, Sultan Azlan Shah, passed away at 1.30 pm today, Perak Menteri Besar Datuk Seri Dr Zambry Abdul Kadir announced over Radio Television Malaysia (RTM). His Royal Highness was 86.Zambry said the late sultan would be laid to rest at the royal mausoleum in Kuala Kangsar after the 'Asar' prayers in the late afternoon tomorrow.

Perak Ruler Sultan Azlan Shah passes away

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

Pertama Digital, KNM, AEON Co, Malton, Global Oriental, G Capital, Jentayu, UUE, Johor Plantations

Sunway Group is selling two parcels of land measuring 64 acres in Sunway City Iskandar Puteri (SCIP), Johor, in a deal worth over RM380 million for data centre development.

Sunway sells Johor land to Singaporean firm Equalbase for over RM380m 

Wall Street indexes traded lower on Tuesday after Federal Reserve chairman Jerome Powell said more evidence was needed before cutting interest rates, while gains in Tesla shares kept losses in check.

Wall Street edges lower as Powell signals caution; Tesla jumps after delivery data

US job openings increased in May after posting outsized declines in the prior two months, but layoffs picked up amid slowing economic activity.

US job openings increase in May; layoffs rise

G Capital Bhd (KL:GCAP) has decided to scrap its planned rights issue of redeemable convertible unsecured loan stocks (RCULS) due to unfavourable market conditions.

G Capital scraps RM113m rights issue of RCULS 

The Malaysian Anti-Corruption Commission (MACC) has released three staff of Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) that it arrested last week in relation to the alleged bribery involving highway contracts worth RM1.67 billion.

The three were released on Tuesday morning following the expiry of their eight-day extended remand period. Arrested last Monday (June 24), they were initially remanded for four days till Friday (June 28), but the MACC sought a four-day extension for them.

MACC releases three Prolintas staff as it nabs two subcontractors over alleged bribery involving highway projects

The US central bank still needs more data before cutting interest rates to ensure that recent weaker inflation readings give a true picture of what is happening to underlying price pressures, Federal Reserve chair Jerome Powell said on Tuesday.

Powell says US Fed needs more evidence of falling inflation before cutting rates

Dubai is building three new office towers in the heart of its financial district, expanding to catch up with rising demand in stark contrast to slumping occupancy rates for commercial property in cities around the world.
 
DIFC Square will be built within the Dubai International Financial Centre (DIFC) and span one million sq ft — 60% of which will be dedicated to office space, according to the government communications office.

Dubai to build three office towers, sidestepping global slump

Opec said its oil revenues slumped by 18% last year, as crude prices cooled and the group embarked on new production cuts to balance global markets.

Opec’s oil revenues slumped 18% last year as prices eased

Hindenburg Research has denied allegations by India's securities regulator that it colluded with a US asset manager to use non-public information to set up a short bet against Adani Group last year, which if proven would breach the country's rules.

Hindenburg denies allegations on Adani short bet by SEBI

A series of incidents that left scores of airline passengers needing medical attention has shone a spotlight on the problem of severe in-flight turbulence.

These flight routes suffer the world’s worst turbulence

Malton Bhd (KL:MALTON) said it is acquiring 30.17 acres of freehold land in Genting Highlands from fellow property developer Global Oriental Bhd (KL:GOB) to build serviced apartments and luxury villas.

Malton buying land in Genting Highlands to build apartments, luxury villas

The booming upstream topside maintenance and hook-up and commissioning (HUC) services is expected to continue throughout the rest of 2024 as Petroliam Nasional Bhd (Petronas) ramps up its brownfield activities to boost production on its existing fields.

Kenanga Investment Bank Bhd said the upstream services market, particularly HUC services, had experienced a significant increase in activities in the first half of this year.

Petronas to ramp up brownfield activities, booming maintenance, HUC services in 2024

The Export-Import Bank of Malaysia Bhd (EXIM Bank) and Toyo Ink Group, wholly owned by Toyo Ventures Holdings Bhd (KL:TOYOVEN), have been criticised for sponsoring and financing a coal-fired power plant in Vietnam, as most of the world is moving away from the fossil fuel due to its significant carbon footprint.

Is Malaysia funding coal abroad?

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

Tesla on Tuesday reported a smaller-than-expected 5% drop in vehicle deliveries in the second quarter, as the electric-vehicle maker's price cuts and incentives helped stimulate demand.

Tesla's 2Q deliveries beat estimates on price cuts, incentives

Four of Japan's top property and casualty insurers and other financial firms plan to sell around ¥500 billion (US$3.1 billion or RM14.6 billion) of shares in Honda Motor, three people said, as the unwinding of cross-shareholding practices accelerates.

Major Japanese insurers to offload US$3.1b of Honda shares — Reuters

Pertama Digital Bhd (KL:PERTAMA) has secured a contract to provide public online digital identity (ID) onboarding registration services for the national digital ID platform, MyDigital ID.

Pertama Digital secures online ID onboarding services contract from MyDigital ID

PECCA Group Bhd (KL:PECCA) is back on the acquisition trail after a pause due to the Covid-19 crisis. The automotive upholstery maker has concluded one takeover deal in the past year and is on the hunt for more acquisitions as part of its ambitions to become a Tier-1 automotive player, its CEO Fo...

Pecca Group ‘hungry’ for more acquisitions as it shifts into higher gear

The Malaysian Anti-Corruption Commission (MACC) has released three staff of Projek Lintasan Kota Holdings Sdn Bhd (Prolintas) that it arrested last week in relation to the alleged bribery involving highway contracts worth RM1.67 billion.

The three were released on Tuesday morning following the expiry of their eight-day extended remand period. Arrested last Monday (June 24), they were initially remanded for four days till Friday (June 28), but the MACC sought a four-day extension for them.

Sunway Group is selling two parcels of land measuring 64 acres in Sunway City Iskandar Puteri (SCIP), Johor, in a deal worth over RM380 million for data centre development.

KNM Group Bhd (KL:KNM) said it is considering fresh options for selling its Italian subsidiary, FBM Hudson Italiana SpA (FBMHI), following a third failed attempt.

“The company has received offers of purchase from other interested parties and is currently evaluating its options," KNM informed Bursa Malaysia on Tuesday. "Further development in relation to the proposed disposal will be announced in due course.” &nbsp;

KNM explores fresh options to sell Italian unit after another failed attempt

Three unity government political parties as well as the Federal Village Development and Security Committee of the Machang parliamentary constituency village (JPKKP) lodged a police report against Bersatu’s Machang MP Wan Ahmad Fayhsal Wan Ahmad Kamal here on Tuesday.&nbsp;

Police report lodged against Machang MP

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

The total fertility rate (TFR) of Malaysians has seen a notable decline, Women, Family and Community Development Minister Datuk Seri Nancy Shukri said.

She cited the Department of Statistics Malaysia (DOSM) Vital Statistics 2023 Report, which indicated Malaysia's TFR dropped from 2.1 children per female in 2010 to 1.6 children per female in 2022.

Total fertility rate in Malaysia has declined significantly — Nancy

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.

FBM KLCI slips 0.02% to 1,597.96 on July 2, 2024

Wall Street indexes traded lower on Tuesday after Federal Reserve chairman Jerome Powell said more evidence was needed before cutting interest rates, while gains in Tesla shares kept losses in check.

Department store and mall operator AEON Co (M) Bhd (KL:AEON) is planning to raise up to RM2 billion via two separate sukuk programmes that it is setting up, to fund its capital expenditure, working capital, investments, and to refinance its existing debts.

It has lodged the required information and documents in relation to the two sukuk wakalah programmes — an Islamic Commercial Papers (ICP) Programme and an Islamic Medium-Term Note (IMTN) Programme, which will have a combined limit of up to RM2 billion in nominal value — with the Securities Commission Malaysia.

AEON plans to raise up to RM2 bil via sukuk

Chicago’s pension burden climbed again last year as new laws and accounting measures added to costs, and first-term Mayor Brandon Johnson looks for new revenue.

Chicago pension debt rises to US$37b as city hunts for cash

Saudi Arabia’s sovereign wealth fund swung to a profit in 2023, driven by a rally in global markets that also helped cement its position as one of the biggest state-backed investors in the Middle East.