<div class=newsTextDataWrapInner>SINGAPORE (Sept 20): Shangri-La Asia, which has a secondary listing on the Singapore Exchange (SGX), announced that its CEO and Executive Director Lim Beng Chee intends to retire and will step down from his roles on Dec 31 this year.</div>

<div class=newsTextDataWrapInner>Lim will also step down from his role as a member of the executive committee of the board.</div>

<div class=newsTextDataWrapInner>Following his retirement, Lim will be re-designated as a non-executive director of the company, with effect from<a href="https://www.theedgesingapore.com/news/company-news/shangri-la-asias-ceo-and-executive-director-retires" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (Sept 20): Shangri-La Asia, which has a secondary listing on the Singapore Exchange (SGX), announced that its CEO and Executive Director Lim Beng Chee intends to retire and will step down from his roles on Dec 31 this year.

Shangri-La Asia's CEO and executive director retires

Shares of cash-rich Apollo Food Holdings Bhd (KL:APOLLO) soared in early trading on Thursday, after it declared a 30 sen dividend following improved second-quarter results.

Apollo shares rise on dividend following stronger 2Q

The government has no intention of introducing any new tax in the near future, according to the Finance Ministry (MOF).

The ministry said the government’s present focus is on increasing compliance and improving the existing tax system as well as implementing tax measures that have already been announced in Budget 2025.

Govt has no plan to introduce new taxes in the near future — Finance Ministry

The value added gross domestic product (GDP) for the manufacturing sector increased to RM97.4 billion in the third quarter of 2024 compared to the same period in 2023, said the Ministry of Investment, Trade and Industry (MITI).

The ministry said the amount showed an increase of 5.5% or RM5.1 billion from the RM92.3 billion recorded last year.

Value added GDP of manufacturing sector increases 5.5% to RM97.4 bil in third quarter of 2024 — MITI

The electrical and electronics (E&E) segment has recorded the highest realised investment performance of RM4.8 billion during the period from January to June 2024, according to the Ministry of Investment, Trade and Industry (MITI).

The ministry said the investment performance was equivalent to 69.5% of the investment value realised for the manufacturing sector which recorded a total of RM9 billion manufacturing projects realised in the same period.

E&E segment records realised investments of RM4.8 bil as of June 2024

FashionValet Sdn Bhd co-founders Datuk Fadzarudin Shah Anuar and Datin Vivy Sofinas Yusof claimed trial at the Kuala Lumpur Sessions Court on Thursday to a charge of criminal breach of trust (CBT) involving RM8 million.

FashionValet co-founders claim trial to criminal breach of trust charge

Prolonged global supply chain disruptions in recent years have in no uncertain terms laid bare that logistics can cause immense disruption. Due to Asia's high growth prospects, these supply chain bottlenecks could derail the potential of the various national economies throughout the continent.

How can Malaysia’s supply chains withstand unprecedented disruption?

Supermax Corporation Bhd (KL:SUPERMX) shares gained in early trade on Thursday, mostly due to an improved outlook and earnings potential of the company's US facility, amid recent efforts to boost glove production there.

Supermax gains on earnings potential of US facility amid efforts to boost glove production

Retailer Eco-Shop Marketing Bhd, which operates 320 discount stores nationwide, is planning to float its shares on the Main Market of Bursa Malaysia to raise funds for business expansion, according to its draft prospectus filed with the Securities Commission Malaysia.

Creador-backed discount store retailer Eco-Shop eyes Main Market listing, plans to float 862 mil shares

Cropmate Bhd (KL:CRPMATE) jumped on its ACE Market debut on Thursday, after its initial public offering (IPO) raised some RM42 million mainly for the fertiliser company's operations and expansion plans.

Fertiliser company Cropmate jumps 22.5% on ACE Market debut

The ongoing flood situation in the country is among the key issues to be highlighted in the Dewan Rakyat on Thursday.

According to the Order Paper, V Ganabatirau (Pakatan Harapan-Klang) will ask the minister of energy transition and water transformation whether the government is satisfied with the development of flood mitigation infrastructure and related investments.

Flood-related matters take centre stage in Dewan Rakyat today

Genting Bhd (KL:GENTING) and Genting Malaysia Bhd (KL:GENM) are likely to be removed from the 30-stock FTSE Bursa Malaysia (FBM) KLCI in the latest review of the benchmark index that will be announced on Thursday, according to sources.

Genting, Genting Malaysia to be dropped from FBM KLCI — sources

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

Capital A, Superlon, Focus Dynamics, Uzma, UEM Sunrise, Mulpha, Central Global, Apollo Food, TMC Life Sciences, Sentoria, Binasat

Retailer Eco-Shop Marketing Bhd, which operates 320 discount stores nationwide, is planning to float its shares on the Main Market of Bursa Malaysia to raise funds for business expansion, according to its draft prospectus filed with the Securities Commission Malaysia.

Wall Street's main indexes climbed on Wednesday, with the S&amp;P 500 and the Nasdaq touching record highs propelled by gains in technology stocks, while investors awaited comments from Federal Reserve chair Jerome Powell later in the day.

Tech rally drives S&P 500, Nasdaq to record highs; Powell comments in focus

Global equities were set to climb higher as bullish comments from Jerome Powell supported risk assets. Currency traders remained on edge as the French government fell after a&nbsp;no-confidence vote.

Shares in Australia and equity futures in Japan rose, while contracts for Hong Kong were slightly lower.

Global stocks rise to record on Powell, bonds gain

Cropmate Bhd (KL:CRPMATE) jumped on its ACE Market debut on Thursday, after its initial public offering (IPO) raised some RM42 million&nbsp;mainly for the fertiliser company's operations and expansion plans.

FashionValet Sdn Bhd co-founders Datuk Fadzarudin Shah Anuar and Datin Vivy Sofinas Yusof&nbsp;claimed trial at the Kuala Lumpur Sessions Court on Thursday to a charge of criminal breach of trust (CBT) involving RM8 million.

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

Binasat plans private placement to finance property acquisitions

Supermax Corporation Bhd (KL:SUPERMX) shares gained in early trade on Thursday, mostly due to an improved outlook and&nbsp;earnings potential of the company's US facility, amid recent efforts to boost glove production there.

Stocks hit all-time highs as Federal Reserve Chair Jerome Powell said the economy is in remarkably good shape. The euro wavered as the French government fell after a no-confidence vote in Parliament.

A rally in big tech drove the S&amp;P 500 to its 56th closing record in 2024. The Nasdaq 100 climbed more than 1%. Nvidia Corp.

US stocks hit record as Powell bullish on economy

Amazon Web Services Inc (AWS)&nbsp;announced on Wednesday that Southeast Asian super-app&nbsp;Grab Holdings Inc has chosen AWS as its preferred cloud provider to enhance operational efficiency across eight Asean countries.

Grab picks Amazon Web Services as cloud provider to drive growth and efficiency across Asean

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

AstraZeneca veteran replaces detained China executive Leon Wang

Shares of&nbsp;cash-rich Apollo Food Holdings Bhd&nbsp;(KL:APOLLO) soared in early trading on Thursday, after it declared a 30 sen dividend following improved second-quarter results.

The South Korean won rebounded on Wednesday, posting the sharpest gains among emerging-market currencies, after President Yoon Suk Yeol rapidly reversed his martial law declaration. Traders were waiting on Federal Reserve Chair Jerome Powell’s remarks for clues on where US interest rates are headed.

South Korean won outperforms emerging peers before Powell remarks

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.

ESR gets US$7 bil binding takeover offer from buyout group

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.

Asean SEOM Retreat to understand outstanding issues from previous Asean chairmanship

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 

The ongoing flood situation in the country is among the key issues to be highlighted in the Dewan Rakyat on Thursday.

According to the Order Paper, V&nbsp;Ganabatirau (Pakatan Harapan-Klang) will ask the minister of energy transition and water transformation whether the government is satisfied with the development of flood mitigation infrastructure and related investments.

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.

Canary Wharf gets green light from bondholders for new debt

Prolonged global supply chain disruptions in recent years have in no uncertain terms laid bare that logistics can cause immense disruption. Due to Asia's high growth prospects, these supply chain bottlenecks could derail the potential of the various national economies throughout the continent.&nbsp;