<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on December 3, 2019 - December 9, 2019</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Boustead Heavy Industries Corp Bhd (BHIC) has appointed Admiral (Rtd) Tan Sri Ramlan Mohamed Ali as its non-executive chairman effective on Sunday. He takes over from Tan Sri Ahmad Ramli Mohd Nor, who resigned on Saturday.</p></div>

<div class=newsTextDataWrapInner><p>“We are confident that Ramlan will help steer the BHIC Group towards growth to deliver optimal value to shareholders,” BHIC said in a statement yesterday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Ramlan was appointed BHIC non-independent non-executive director on July 10 and was a director of Lembaga Tabung Angkatan Tentera, holding an 8% stake in BHIC.</p></div>

<div class=newsTextDataWrapInner><p>“He was appointed the 14th chief of the Royal Malaysian Navy (RMN) on Nov 15, 2006. He joined RMN in 1970 and held numerous command and staff appointments in the RMN and the Malaysian Armed Forces in an illustrious career as a serviceman.</p></div>

<div class=newsTextDataWrapInner><p>“He retired on July 18, 2008 after four decades of stellar service to the nation,” BHIC said.</p></div>


KUALA LUMPUR: Boustead Heavy Industries Corp Bhd (BHIC) has appointed Admiral (Rtd) Tan Sri Ramlan Mohamed Ali as its non-executive chairman effective on Sunday. He takes over from Tan Sri Ahmad Ramli Mohd Nor, who resigned on Saturday.

“We are confident that Ramlan will help steer the ...

Retired Navy chief Ramlan Mohamed Ali is new BHIC chairman

Germany’s economy will hardly grow next year as underlying problems add to cyclical weakness, according to Chancellor Olaf Scholz’s independent panel of experts.

Gross domestic product is set to increase by just 0.4% in 2025, the Council of Economic Experts predicted in a twice-yearly report published on Wednesday in Berlin.

Scholz advisers trim German growth forecast for next year

Facebook owner Meta Platforms must face trial in a US Federal Trade Commission lawsuit seeking its break-up over claims that it bought Instagram and WhatsApp to crush emerging competition in social media, a judge in Washington ruled on Wednesday.

Meta will face antitrust trial over Instagram, WhatsApp acquisitions

Here is a brief recap of some corporate announcements that made news on Wednesday.

Johor Plantations, United Plantations, VSTECS, Swift Haulage, MHB, Bumi Armada, Dayang Enterprise, Pasdec, and Scientex

Wall Street's main indexes inched higher on Wednesday after in-line consumer price inflation data kept the US Federal Reserve (Fed) on track to deliver another interest rate cut in December.

Wall Street edges higher after inflation data keeps Fed rate-cut hopes intact

PUC Bhd (KL:PUC) said its external auditor Messrs UHY had expressed a qualified opinion on its audited financial statements for the 18 months ended June 30, 2024 (from Jan 1, 2023 to June 30, 2024).

PUC’s auditor expresses qualified opinion on its FPE2024 financial statements

A surge in Bitcoin that paused earlier Wednesday is regaining steam, sending the original cryptocurrency above US$90,000 (RM400,360) for the first time, as traders assess the remaining market impact of President-elect Donald Trump’s rhetorical support for crypto.

Bitcoin rises above US$90,000 as rally resumes on Trump optimism

A measure of underlying US inflation remained firm in October, underscoring the ongoing risks Federal Reserve (Fed) officials face in trying to bring price pressures fully under control.

US inflation stays firm for third month with 0.3% core CPI gain

A Temasek Trust Asset Management-backed firm agreed to invest US$50 million (RM221.33 million) in a Japanese solar energy held by HSBC Asset Management.

ABC Impact, a member of the Singapore firm, will invest in Tokyo-based Tekoma Energy, according to a statement on Wednesday. Tekoma will use the new fund to develop and upscale solar photovoltaics projects.

Temasek Trust-backed firm invests in HSBC-held Tekoma

Bursa Malaysia Derivatives Exchange (BMD) is planning to launch its new used cooking oil (UCO) futures contract as early as December, the director of the Malaysian bourse said on Wednesday.

Bursa Malaysia aims to launch used cooking oil futures in December

Uzma Bhd (KL:UZMA) has been appointed as a panel contractor by national oil company Petroliam Nasional Bhd (Petronas) for integrated well continuity services pan-Malaysia.

Uzma bags five-year pan-Malaysia well services job from Petronas

<p>KUALA LUMPUR (Nov 13): Lawyers for MyAirline co-founder Datuk Allan Goh Hwan Hua and three other companies, who are defendants in a suit filed two years ago by 15 investors who are suing Goh and the three companies for RM8 million, told the High Court on Wednesday that the defendants have no case to answer for in deciding not to call any witnesses for the defence.</p>


MyAirline co-founder and three companies say they have no case to answer for in RM8m investors’ suit

<p>Tan Sri Wan Zaki Wan Muda, the founder of Ahmad Zaki Sdn Bhd (AZSB) and group adviser to Ahmad Zaki Resources Bhd (KL:AZRB), passed away on Tuesday evening&nbsp;at the age of 75.</p>


Ahmad Zaki founder Wan Zaki passes on

<p>Malaysia Airlines chief executive officer Datuk Captain Izham Ismail will stay at the helm another year after his contract was extended, the carrier confirmed on Wednesday.</p>


Izham to stay on as Malaysia Airlines CEO after contract extended

<p>Over 200 people, including politicians, business figures, and relatives of the late Tun Daim Zainuddin gathered to pay their last respects to Malaysia’s former twice-serving finance minister, who died at 8.21am on Wednesday.</p>


Farewell, Tun Daim

<p>The ringgit was the major loser on Wednesday among broadly muted emerging Asian peers, as Malaysia's third-quarter economic growth appeared set to have lost pace, reflecting a fall in mining output.</p>


Ringgit at three-month low as GDP growth forecast to slow; forex tepid

<p>Newly minted Attorney General Datuk Mohd Dusuki Mokhtar said he would review the ongoing prosecution of former finance minister Tun Daim Zainuddin following Daim’s sudden death on Wednesday morning.</p>


AG: I will review Daim’s prosecution after getting the death certificate

<p>United Plantations Bhd (KL:UTDPLT) announced on Wednesday a 60 sen per share dividend payout — comprising a special dividend of 20 sen and an interim dividend of 40 sen — together with a one-for-two bonus issue, as it reported an 8.8% drop in its third quarter net profit&nbsp;following a jump in operating expenses.</p>


United Plantations announces special dividend and one-for-two bonus issue as 3Q profit slips 8.8%

<p>KUALA LUMPUR (Nov 13): BIMB Securities has downgraded Hartalega Holdings Bhd (KL:HARTA) to a “sell” call, from a “hold”, after a share price rally.</p>


BIMB Securities downgrades Hartalega to ‘sell’ after price rally

<p>Bumi Armada Bhd (KL:ARMADA), an oilfield services provider controlled by tycoon T&nbsp;Ananda Krishnan, is considering buying MISC Bhd’s (KL:MISC) offshore energy business, according to people with knowledge of the matter.</p>


Bumi Armada could buy MISC's offshore energy assets, Bloomberg reports

<p>Malaysia Marine and Heavy Engineering Holdings Bhd (KL:MHB) returned to the black in the third quarter ended Sept 30, 2024 (3QFY2024), as revenue jumped 42% year-on-year, thanks to improved performance of both its heavy engineering and marine segments.</p>


Malaysia Marine and Heavy Engineering returns to the black in 3Q

<p>Transport Minister Anthony Loke announced on Wednesday that the Cabinet has approved a RM442.3 million upgrade for Kota Kinabalu International Airport (KKIA).</p>


Cabinet approves RM442m upgrade for Kota Kinabalu International Airport

<p>Prime Minister Datuk Seri Anwar Ibrahim has expressed his condolences following the passing of former finance minister Tun Daim Zainuddin, which occurred upon Anwar's arrival in Lima, Peru.</p>


Anwar mourns the passing of Daim Zainuddin

<p>KUALA LUMPUR (Nov 13): Former prime minister Tun Dr Mahathir Mohamad expressed his deep sadness following the death of his close friend, Tun Daim Zainuddin, who passed away on Wednesday morning.</p>


Tun Mahathir mourns Daim Zainuddin

<p>KUALA LUMPUR (Nov 13): Hartanah Kenyalang Bhd, a Sarawak-based construction services firm, has filed for an initial public offering (IPO) on the ACE Market of Bursa Malaysia to raise funds for expansion and to finance existing operations.</p>


Sarawak builder Hartanah Kenyalang files for ACE Market IPO

<p>KHAZANAH Nasional Bhd has amassed an estimated RM5.48 billion from the dividend payouts of eight public listed companies (PLCs) and proceeds from stake disposals in three PLCs so far this year.</p>

<p>A back-of-the-envelope calculation shows that the sovereign wealth fund received RM2.8 billio...

Khazanah reaps over RM5 bil from dividends, share sale this year 

<p>Since the US&nbsp;and China imposed tit-for-tat tariffs in their trade war during Donald Trump's first presidential term, Beijing has taken steps to reduce its reliance on American farm goods in a wider effort to bolster its food security.</p>


How China reduced its reliance on US farm imports, softening trade war risks

<p>Leaders of Asia-Pacific airlines laid their frustrations bare with the original equipment manufacturers (OEMs) for the supply chain constraints currently plaguing the industry at the Association of Asia Pacific Airlines' (AAPA) 68th Assembly of Presidents held on Wednesday.</p>


Airline CEOs slam OEMs for ongoing supply chain woes

<p>Kelington Group Bhd (KL:KGB) shares and warrants were among Bursa Malaysia's top gainers on Wednesday after the group highlighted strong job prospects during a briefing with analysts on the same day about its latest quarterly results.</p>


Strong prospects lift Kelington's shares, warrants to Bursa's top gainers list

<p>Malaysia’s cross-border renewable energy (RE) auction for Singapore’s energy importer, under the Energy Exchange Malaysia (Enegem), will begin by year end, Deputy Prime Minister Datuk Seri Fadillah Yusof said.</p>


Renewable energy auction for Singapore via Enegem by year end, says Fadillah

<p>Information and communications technology (ICT) products distributor VSTECS Bhd (KL:VSTECS) has posted a 53.79% year-on-year increase in net profit for the third quarter, driven by a record-high revenue.</p>
