<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 8): Quek Kon Sean, the youngest son of tycoon Tan Sri Quek Leng Chan is going to assume a new position in the Hong Leong Group.</p></div>

<div class=newsTextDataWrapInner><p>Filings with Bursa Malaysia today revealed that the Kon Sean, 36, had resigned as a non-executive director in Hong Leong Financial Group Bhd (HLFG) and Hong Leong Capital Bhd with effect from July 9, 2016.</p></div>

<div class=newsTextDataWrapInner><p>The reason given for the resignation of both positions is that he will be assuming a new position within the Hong Leong group.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Kon Sean was appointed to the board of HLFG on Dec 1, 2005, and to the board of Hong Leong Capital on Feb 28, 2006. He is currently the managing director for the Centre for Business Value of HL Management Co Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>HLFG was among the top gainers on Bursa Malaysia today, and closed up 42 sen (2.8%) to RM15.30 for a market capitalisation of RM17.34 billion.</p></div>

<div class=newsTextDataWrapInner><p>Trading in Hong Leong Capital has been suspended as the public shareholding spread of the company as at March 31, 2016 stood at 18.67%, below the 25% requirement.</p></div>

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KUALA LUMPUR (July 8): Quek Kon Sean, the youngest son of tycoon Tan Sri Quek Leng Chan is going to assume a new position in the Hong Leong Group.

Filings with Bursa Malaysia today revealed that the Kon Sean, 36, had resigned as a non-executive director in Hong Leong Financial Group Bhd...

Quek Leng Chan's youngest son to assume new position in Hong Leong Group

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

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.

Bill Crown, Jim’s first cousin, will replace him as president and chief executive officer of Henry Crown & 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.

Billionaire Crown dynasty revamps leadership after death of Jim Crown

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.

TMC Life Sciences issues profit warning due to contract issues

<p>Oversea-Chinese Banking Corp’s (OCBC) chief executive officer made a fresh effort to win over key shareholders of a Singapore insurer that the bank has been trying to take full control of for over two decades.</p>


OCBC CEO met key Great Eastern deal holdouts on US$1b bid — Bloomberg

<p>Malay rights activist Datuk Ibrahim Ali told the High Court that former prime minister Datuk Seri Najib Razak was dishonest with him about the source of RM600,000 given to him in 2015.</p>


Ibrahim Ali says unaware of source of RM600,000 given to him by 'dishonest' Najib

<p>Bursa Malaysia Bhd and its subsidiaries will be closed on Jan 29 and 30 in conjunction with the Chinese New Year (CNY) public holiday.</p>


Bursa Malaysia, subsidiaries to close for CNY public holiday

<p>A consortium led by Khazanah Nasional Bhd has received valid acceptances of 1.548 billion shares or 92.82% of the total number of issued shares in Malaysia Airports Holdings Bhd (KL:AIRPORT) on its conditional voluntary offer for shares of the airport operator, better known as MAHB.</p>


MAHB takeover: Acceptance of Khazanah-led consortium's offer reaches 92.82% 

<p>A pastry company and its director were charged in two Sessions Courts here on Friday with 14 counts of using the halal logo and a registered trademark without approval in the supply of 366 sandwiches of various types.</p>


Shake and Bake Cafe and its director charged with using halal logo without approval

<p>Packaging manufacturer and developer Scientex Bhd (KL:SCIENTX) on Friday said it is acquiring 528.49 acres of land in Paya Rumput, Melaka for RM333.8 million cash (RM14.50 per sq ft) from Genting Plantations Bhd (KL:GENP).</p>


Scientex buys Melaka land from Genting Plantations for RM333 mil cash

<p>Eco World Development Group Bhd (KL:ECOWLD)(EcoWorld Malaysia) has officially opened the Tuah 1895 dining and lifestyle hub at its Bukit Bintang City Centre (BBCC) mixed-use development in Pudu, Kuala Lumpur on Friday.&nbsp;</p>

<p>Developed by BBCC Development Sdn Bhd, which is a joint venture company between EcoWorld Malaysia, UDA Holdings Bhd and the Employees Provident Fund, the 19.4-acre BBCC comprises residential suites, offices, hotels, a mall and entertainment offerings.</p>


EcoWorld Malaysia officially opens Tuah 1895 dining and lifestyle hub at Bukit Bintang City Centre

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


<p>A duty manager of a hotel was sentenced to 12 months in jail and two strokes of the rotan by the Sessions Court here on Friday after pleading guilty to a charge of criminal breach of trust (CBT) amounting to more than RM30,000 in hotel room payments.</p>


Hotel duty manager jailed 12 months for criminal breach of trust

<p>Moody's Ratings on Friday affirmed Malaysia's sovereign rating at A3 with a stable outlook, citing strong medium-term growth prospects and effective policymaking institutions.</p>


Moody's keeps Malaysia's sovereign rating at A3, outlook stable

<p>A joint venture between Gamuda Bhd (KL:GAMUDA) and Ferrovial (GFJV) has inked an early contractor involvement (ECI) agreement with Capricornia Energy Hub (CEH) for a hydroelectric storage project in Queensland, Australia. CEH is backed by Copenhagen Infrastructure Partners, one of the world's largest clean energy investors.</p>


Gamuda-Ferrovial JV lands early role in Australian hydroelectric storage project

<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>


<p>ICT Zone Asia Bhd (KL:ICTZONE), a technology financing solutions provider, has received approval from Bursa Malaysia to transfer its listing from the LEAP Market to the ACE Market.</p>

<p>The company, which specialises in technology financing solutions, information and communications technology (ICT) hardware and software trading, as well as cloud services, plans to complete the migration to the ACE Market by the second quarter of this year. &nbsp;&nbsp;</p>


ICT Zone Asia gets greenlight for ACE Market transfer

<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

<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Friday.</p>


FBM KLCI down 0.22% to 1,573.73 on Jan 24, 2025

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EVENING 5: Five things you need to know today

<p>The Japanese public’s trust in broadcasting could be hurt by a sexual harassment scandal at Fuji Media Holdings Inc, a cabinet minister said on Friday, as the company struggled to control a problem that has roiled its shares and forced one of the country’s top TV hosts to announce his retirement from the entertainment business.<br />
&nbsp;<br />
A slew of major corporations have suspended advertising on Fuji TV amid allegations that an employee was involved in setting up a meeting between former pop star Masahiro Nakai and the alleged victim in the incident. The company has set up a panel to look into the issue. &nbsp;</p>


Fuji TV sex scandal spurs government worries over public trust

<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>


<p>US President Donald Trump sought to dial up pressure on President Vladimir Putin to negotiate a deal to end Russia’s war on Ukraine by indicating he’s seeking to partner with China to try to reach a settlement.</p>


Trump looks to China to press Putin into a deal to end war

<p>US&nbsp;President Donald Trump on Thursday dismissed criticism from close ally Elon Musk about a US$500 billion artificial intelligence (AI) project that Trump announced with great fanfare at the White House earlier this week.</p>
