<div class=newsTextDataWrapInner>SINGAPORE (Aug 17): Sarine Technologies, the developer and manufacturer of precision technology products for the processing and trade of diamonds and gems, says Golden Dew last week formally launched the company’s Sarine Profile in-store diamond display platform in all of its 72 stores across South Korea.</div>

<div class=newsTextDataWrapInner>The jewellery retail chain also intends to implement the Sarine Connect app across its chain to support the search and display of its diamond and jewellery inventory at the point of sale. &nbsp;</div>

<div class=newsTextDataWrapInner>In a press release on Wednesday, Sarine says Golden Dew is the first retailer in Korea to adopt<a href="https://www.theedgesingapore.com/sarine-announces-partnership-south-korean-jeweller-golden-dew">...(click on link for full story on theedgesingapore.com)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (Aug 17): Sarine Technologies, the developer and manufacturer of precision technology products for the processing and trade of diamonds and gems, says Golden Dew last week formally launched the company’s Sarine Profile in-store diamond display platform in all of its 72 stores across Sou...

Sarine announces partnership with South Korean jeweller Golden Dew

MARC Ratings Bhd has downgraded YNH Property Bhd's (KL:YNHPROP) Islamic Medium-Term Notes Programme (Sukuk Wakalah) to BBIS with a negative outlook in a move that it says reflects heightening concerns over the group's business and financial prospects.

The downgrade was made as MARC removed the programme from its negative watch, in which it has been placed since Jan 18 due to YNH's weak financial position, delayed asset disposals and material issues concerning its key shareholder that have compounded the challenges that the group faces to address its weakening credit profile, MARC said in a statement.

MARC downgrades YNH's sukuk to BBIS, with negative outlook

Telekom Malaysia Bhd (KL:TM) said it has executed an agreement with MYTV Broadcasting Sdn Bhd to settle all their disputes related to non-payment for the provision of digital terrestrial television (DTT), broadcasting infrastructure and network facilities.

It said in a bourse filing on Thursday that both parties will jointly inform the arbitral tribunal of the settlement of the disputes.

TM says it has reached settlement with MYTV in two-year-long arbitration dispute

Land sales in Pulai, Johor, totaling RM219 million to data centre operators have boosted Crescendo Corp Bhd’s net profit to a record high for the first quarter ended April 30, 2024 (1QFY2025).

Land sales lift Crescendo’s net profit to record high of RM289 million in 1QFY2025

Elmina Business Park has raised the bar for industrial and business projects in the country. Spanning 1,500 acres of prime freehold land, it is the largest freehold industrial park in the Klang Valley and part of Sime Darby Property’s 6,500-acre award-winning City of Elmina. Thoughtfully curated with world-class infrastructure, wellness-driven facilities and practical design, Elmina Business Park has attracted a dynamic range of local and multinational businesses to set up operations here.

Elmina Business Park Poised for Exponential Growth with Unveiling of Stage 2

Ajinomoto (Malaysia) Bhd (KL:AJI) has declared a first and final dividend of 38.4 sen per share for the financial year ended March 31, 2024 (FY2024).

The dividend will be paid on Sept 25, with the ex-date fixed for Aug 29, according to the group's exchange filing on Thursday.

Ajinomoto declares higher dividend of 38.4 sen for FY2024

Velocity Capital Partner Bhd (KL:VELOCITY) is selling an 85% stake in Cipta X Sdn Bhd, an information technology firm, to MMAG Holdings Bhd (KL:MMAG) for RM20 million in cash, according to filing with Bursa Malaysia.

The remaining 15% stake in Cipta X, formerly known as Solutions Sdn Bhd, is held by Lai Kwok Ching, who bought the stake from Green Packet Bhd (KL:GPACKET) on Jan 24 for RM3.5 million.

Velocity sells 85% stake in subsidiary to former shareholder MMAG for RM20 million

The country needs to address the challenges faced in developing the right human workforce, particularly the engineering profession as it moves towards the successful execution of the government's economic plans, namely the New Industrial Master Plan (NIMP) 2030 and the National Semiconductor Strategy (NSS).

Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz said without the right human capital and the right talent management of human capital, it is difficult for the country to realise its dreams and aspiration to become an industrialised nation.

Malaysia needs to address workforce challenges to execute economic plans — Tengku Zafrul

The appeals from various parties to be considered for diesel subsidies will be presented to the Cabinet for consideration after being reviewed.

Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali said the government was aware of the appeals made including those by tow truck operators.

Diesel subsidy appeals to be presented to Cabinet for consideration after review

The Selangor Malaysian Anti-Corruption Commission (MACC) arrested the former chief financial officer (CFO) and the former chief operating officer (COO) of a real estate company on suspicion of submitting false claims for about RM100,000.

An MACC source said both of them, a woman and a man in their 30s, were arrested at 2pm on Wednesday when they turned up to give their statements at the Selangor MACC office.

MACC nabs former CFO and COO of real estate firm for submitting false claims amounting to RM100,000

Dataprep Holdings Bhd’s (KL:DATAPRP) shareholders rejected the reappointment of non-independent and non-executive chairman, Datuk Mohd Rizal Jaafar, and two independent directors — Abdul Aziz Ishak and Nur Zarina Ghazali — at its AGM.  

Dataprep announced their cessation of office because resolutions on their re-appointment were not carried out at the group’s 35th annual general meeting held on Thursday.

Dataprep shareholders reject reappointment of chairman Mohd Rizal and two directors at AGM

KUALA LUMPUR (June 27): Notion VTec Bhd (KL:NOTION), in its clarification on a recent article, maintained that three main factors were the driving factors for recent rise in its share price: strong financial performance recovery, the sector’s turnaround, and positive analyst outlook.&nbsp;

Notion VTec maintains share price surge due to financial and sector turnaround, analyst optimism

Malaysia’s central bank said on Thursday it plans to ask conventional and digital banks to provide basic savings accounts and basic current accounts at minimal costs to consumers.

BNM plans to have banks provide basic accounts at minimal costs

Lawyers for the CEO of a highway concessionaire, who was arrested by the Malaysian Anti-Corruption Commission (MACC) earlier this week, have sought explanation from the commission as to why their client was brought to court without prior notice.&nbsp;

Lawyers of highway concessionaire CEO seek explanation from MACC 

ohor Plantations Group Bhd (KL:JPG) announced that the 50 million new shares offered to the Malaysian public have been oversubscribed by 2.18 times.

In a statement, the group said it received a total of 9,555 applications for 159.01 million shares worth RM133.57 million from the Malaysian public.

Johor Plantations sees oversubscription of 2.18 times for 50 million shares offered under IPO

CGS International and Hong Leong Investment Bank (HLIB) said IJM Corp Bhd’s (KL:IJM) recent contract win in the data centre space is strategically significant and could pave the way for many more.&nbsp;

CGS and HLIB maintain bullish outlook on IJM after 'crucial' maiden data centre job win

Datuk Allan Goh Hwan Hua, co-founder of MYAirline Sdn Bhd has been hit with another lawsuit, this time from 213 people who invested about RM70 million in entities purportedly linked to him. &nbsp;

MYAirline's co-founder Allan Goh slapped with another lawsuit, this time from over 200 investors

Water services operator Pengurusan Air Selangor Sdn Bhd (Air Selangor) is confident it can supply water to data centres without compromising public water supplies, said its acting chief executive officer Abas Abdullah.

Abas said Air Selangor has received water supply requests from data centres in locations such as Cyberjaya and Setia Alam.

Air Selangor confident it can meet data centres' water demand without compromising supply to public

Petronas, through Malaysia Petroleum Management (MPM), on Thursday signed a small field asset (SFA) production-sharing contract (PSC) with Vestigo Petroleum Sdn Bhd (Vestigo) for a Discovered Resource Opportunity (DRO) cluster, which was marketed under the Malaysia Bid Round Plus (MBR+).

Petronas awards NBE Cluster PSC to fuel long-term energy needs

Further studies on the development strategy for 50 acres (20.23 hectares) of Malay reserve land in Bandar Malaysia are underway, said the Ministry of Finance (MOF).

Further studies on Malay reserve land underway for Bandar Malaysia to become international business hub — MOF

theedgemalaysia.com highlighted three stocks with positive momentum and four stocks with negative momentum at Bursa Malaysia's noon break&nbsp;on Thursday.

Crest Builder, Hextar Industries, PRG, Evergreen Fibreboard, Maxim Global, Nova MSC, Sealink International

YNH Property Bhd (KL:YNH) said the conditional period of the sale and purchase agreement for it to sell 163 Retail Park to Sunway Real Estate Investment Trust (Sunway REIT) has been extended by three months to Sept 26.

The conditional period ended on Thursday (June 26). This is the second extension for the deal.

YNH Property extends the conditional period for RM215 mil sale of 163 Retail Park to Sunway REIT till Sept 26

KUALA LUMPUR (June 27): S&amp;P Global Ratings on Thursday affirmed Malaysia’s sovereign ratings at A- and “stable” outlook, citing steady growth and potential modest fiscal improvements.

S&P affirms Malaysia’s sovereign ratings at A-, outlook ‘stable’

The pandemic savings cushions that helped Americans weather high prices in recent years have worn through, contributing to a loss of consumer firepower that’s rippling through the economy.&nbsp;

Americans’ pandemic savings are gone — and the economy is bracing for impact

SS15 in Subang Jaya is notorious for its traffic congestion. Finding a parking space can be challenging on most days. Just 10 to 12 minutes’ walk away, however, is the more quiet commercial stretch of Jalan SS15/5A, located between Jalan SS15/5 and Jalan SS15/5G, and across from the Subang Jaya M...

Streetscapes: Offerings aplenty on quiet Jalan SS15/5A

Malaysia has to exercise caution in positioning itself in its relations with other nations, in view of the growing complexities of global geopolitics, &nbsp;the Dewan Rakyat was told Thursday.

Tok Mat urges caution in way Malaysia positions itself amid shifting geopolitical landscape

JOHOR BAHRU (June 27): The construction of the Gemas-Johor Bahru Electrified Double Track Project (Gemas-JB EDTP) has reached a 97% completion rate and saw the opening of the Segamat station to the public in May 2024.

Gemas-JB double track project 97% complete, achieves 28 million safe man-hours

Sapura Energy Bhd’s (KL:SAPNRG) net profit shrunk nearly 44% to RM82.13 million for the first quarter ended April 30, 2024 (1QFY2025) from RM146.09 million the year before, no thanks to a RM117.76 million loss resulting&nbsp;from the liquidation of a subsidiary.&nbsp;

Sapura Energy’s 1Q net profit down 44% amid RM117m loss on liquidation of subsidiary 

Malaysia External Trade Development Corp (Matrade) and Deloitte have signed a memorandum of understanding (MOU) to jointly drive the New Industrial Master Plan 2030 (NIMP 2030) through a series of technology-led initiatives.

Matrade signs MOU with Deloitte to drive New Industrial Master Plan 2030

SpaceX will sell insider shares at US$112 (RM528.53) apiece in a tender offer, a higher-than-expected price that boosts the value of Elon Musk’s space and satellite company closer to US$210 billion, according to people familiar with the matter.

SpaceX tender offer said to value company at record US$210b

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