<div class=newsTextDataWrapInner>SINGAPORE (Sept 30): ST Engineering has named deputy CEO (Corporate Development), Vincent Chong Sy Feng, as its new president and CEO (Designate), effective Oct 1.</div>

<div class=newsTextDataWrapInner>Chong is expected succeed incumbent president and CEO Tan Pheng Hock when the latter plans to retire next year.</div>

<div class=newsTextDataWrapInner>He will oversee the group’s four business sectors in addition to his current responsibilities.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Tan was on medical leave after a mild stroke but has resumed duties and will be working closely with Chong to ensure a smooth leadership transition, the group says.</div>

<div class=newsTextDataWrapInner>ST Engineering ended up two cents or 0.7% at $2.98.</div>

SINGAPORE (Sept 30): ST Engineering has named deputy CEO (Corporate Development), Vincent Chong Sy Feng, as its new president and CEO (Designate), effective Oct 1.

Chong is expected succeed incumbent president and CEO Tan Pheng Hock when the latter plans to retire next year.

H...

ST Engineering appoints new president and CEO

The Ministry of Investment, Trade, and Industry (Miti) is working with the the Construction Industry Development Board (CIDB) and the Works Ministry to explore ways to enforce a more stringent localisation programme for government construction projects, as one of the ways to address the issue of overcapacity faced by the iron and steel industry.

“The iron and steel industry is a very important yet delicate industry that requires a lot of attention from policy makers. The iron and steel industry is heavily influenced by global factors. Policy changes or market trends in China or the US would have a huge 'butterfly effect' on the profitability or even survival of the Malaysian steel industry,” said Deputy Investment, Trade and Industry Minister Liew Chin Tong.

Miti working with construction industry, Works Ministry to ensure more local steel use in govt projects

LONDON (July 1): British Prime Minister Rishi Sunak will on Monday say only his Conservatives can counter a Labour-led government and that a vote for Nigel Farage's right-wing Reform UK would hamper any chance of his party forming a strong opposition.

Appearing to all but concede defeat...

UK's Sunak says only his Conservatives can form strong opposition to Labour

Nova Pharma Solutions Bhd (KL:NPS) has secured a contract from the National Institute of Biotechnology Malaysia (NIBM) to undertake equipment procurement and facility upgrade  for NBIM’s national vaccine production development and enhancement programme.

Nova Pharma secures contract from National Institute of Biotechnology

The government, in collaboration with TM, will develop and operate the country's new emergency call system, Next Generation Emergency Services 999 (NG999), to replace the existing Malaysian Emergency Responses 999 (MERS999) system.

NG999: New emergency call system set to boost efficiency — Teo

The Malaysian Bioeconomy Development Corporation Sdn Bhd (Bioeconomy Corp) aims to facilitate new investments worth a potential RM1.32 billion at the National Bioeconomy Showcase 2024 (NBiOSHOWCASE 2024), said Ministry of Science, Technology and Innovation (MOSTI) Minister Chang Lih Kang.

The minister said Bioeconomy Corp, an agency under MOSTI, is also aiming for a RM2 billion contribution to the country's gross domestic product (GDP) from the biotechnology and bio-based industries by the end of 2024.

Bioeconomy Corp eyes RM1.32 bil new investments from 2024 Bio Showcase event — Mosti

World’s first independent airport lounge operator Plaza Premium Group (PPG) said on Monday that its Plaza Premium Lounge has bagged the world's best independent airport lounge at the World Airline Awards 2024.

Plaza Premium Lounge named world’s best independent airport lounge for eight years in a row

Thailand's constitutional court should reach a verdict by September in two cases that could lead to the dismissal of Prime Minister Srettha Thavisin and dissolve the opposition Move Forward party, the court's president said on Monday.

Thai court to give verdict in PM, opposition party cases by September 

PUTRAJAYA (July 1): The police have taken statements from 11 individuals regarding the gathering held in the public parking area at the Seri Perdana Complex here last Saturday.

Putrajaya District Police chief ACP A Asmadi Abdul Aziz in a statement Monday said all the individuals involve...

Police take statements of 11 individuals over gathering at Seri Perdana

When Wu Cunsong and Chen Binghui founded their artificial intelligence startup two years ago in Hangzhou, China, they quickly ran into obstacles, including dearth of venture capital. This March, they did what scores of other Chinese AI firms have done and moved their company, Tabcut, 2,500 miles southwest to Singapore.

China’s AI startups head to Singapore in bid for global growth

Money remittances remain the highest risk sector of being exploited for terrorism financing (TF) in Singapore, according to a report published on Monday.

Singapore’s remittance service at high risk of being exploited for terrorism financing, report finds

The Malaysian stock market is seen maintaining its momentum and breaching the 1,700-point level by end this year, driven mainly by a stronger ringgit and robust domestic economic growth.

Analysts stay sanguine on local stock market, see KLCI breaching 1,700 level by year end

Brokers are demanding cash upfront payments for the purchase of Artroniq Bhd (KL:ARTRONIQ), APB Resources Bhd (KL:APB), Notion VTec Bhd (KL:NOTION) and YNH Property Bhd (KL:YNH) shares.&nbsp;Artroniq and Notion VTec's warrants — Artroniq-WA and NOTION-WD — are also affected.

Brokers demand cash upfront from investors for Notion VTec, YNH, Artroniq and APB Resources

Kenanga Research has maintained its “underweight” rating on the property sector and said the sector's headwinds remain aplenty, including oversupply, high household debt, elevated interest rates, and weakened consumer sentiment resulting from high inflation and rising living costs.

Property sector's headwinds remain aplenty, says Kenanga Research

The Ministry of Health recently released the 2023 National Health and Morbidity Survey (NHMS) report, revealing alarming statistics about chronic diseases in Malaysia. High cholesterol impacts about 7.5 million adults (33.3%), diabetes affects 3.6 million (15.6%), and 6.7 million (29.2%) suffer from hypertension. Disturbingly, over 80% are unaware of their conditions.

 The economics of eating well: Why Malaysians struggle with healthy diets

The federal government intends to issue a request for proposal (RFP) as an alternative approach for the RM3.46 billion Multi-Lane Free Flow (MLFF) project, said Deputy Works Minister Datuk Seri Ahmad Maslan.

This move aims to potentially reduce the project's costs, Ahmad said, adding that the ministry had already announced its intention to issue the RFP.

Putrajaya to issue RFP as 'Plan B' for RM3.5 bil multi-lane free flow project

Axiata Group Bhd (KL:AXIATA) has appointed Amrit Kaur as its independent non-executive director effective July 1.

Axiata appoints new director to board

Social media giant Meta is too slow in taking down fraudulent posts from its platforms, making vulnerable Malaysians victims of scammers, according to private equity firm Creador, after the company was impersonated on Facebook, Instagram and Whatsapp.

Meta too slow in taking down fraudulent posts from its platforms, says Creador

Singapore Airlines Ltd chief executive officer Goh Choon Phong was paid S$8.11 million (RM28.2 million) last financial year, a 21% increase from the previous period, as the airline benefited from a travel boom.

Goh, who has been on the carrier’s board since 2010, had a base salary of S$1.44 million, up from S$1.1 million in 2022, according to the airline’s annual report published on Monday. Similar to in previous years, the majority of his pay comes in the form of bonuses and share awards.

Singapore Airlines’ CEO gets pay jump after record annual profit

Any polemics related to the BlackRock issue linked to the Israeli regime could affect Malaysia's interests as a developing country, said Prime Minister Datuk Seri Anwar Ibrahim.

Speaking at the July monthly assembly of the Prime Minister's Department here on Monday, Anwar reminded everyone not to be "excessive" in discussing the controversial BlackRock issue.

Don't go overboard in debating BlackRock issue, think of country's interests — Anwar

Foreign funds continued to exit Bursa Malaysia for the second consecutive week, albeit with a lower outflow of RM357.7 million last week, from RM441.1 million the prior week.

Foreign selling of local equities persisted at slower pace of RM358m last week, says MIDF

After three straight years of growth, domestic consumption for steel is expected to grow further this year, to between 8.3 million tonnes and nine million tonnes this year, according to a forecast by the Malaysian Iron and Steel Industry Federation (Misif).

Data centre boom, chip industry expansion expected to boost local steel demand

Tenaga Nasional Bhd (TNB) (KL:TENAGA) said the decision by the Ministry of Energy Transition and Water Transformation (Petra) to maintain electricity tariffs until Dec 31 this year is neutral on the utility company and will not have any effect on its business operations.

Tenaga sees no impact from unchanged electricity tariffs

On May 1 this year, BlackRock Inc set up a multi-class investment firm in Saudi Arabia with an initial seed funding of US$5 billion (RM23.6 billion) coming from the kingdom’s Public Investment Fund (PIF).

BlackRock Riyadh Investment Management is mandated to attract additional overseas ...

Alternative Views: Cut the political semantics around the MAHB deal

Kinergy Advancement Bhd (KL:KAB) has partnered with Johor Corp (JCorp) to undertake and develop sustainable energy solutions projects with a specific focus on energy-efficient initiatives for data centers.

The project encompassing energy-efficient measures, renewable energy solutions, clean energy initiatives, and engineering construction across various energy-related facilities, was secured by Kinergy Advancement’s wholly-owned subsidiary, KAB Energy Holdings Sdn Bhd.

Kinergy Advancement collaborates with JCorp to boost sustainable energy solutions with data centres

Investment analysts foresee Malaysia’s banking sector to continue its upward momentum underpinned by ongoing loan growth and stabilising net interest margin (NIM), as well as the potential of higher net interest income (NII). &nbsp;

The banking sector will likely continue to benefit from ongoing loan growth, improved gross domestic product (GDP) along with better margin retention, according to Kenanga Research in its monthly highlight report on Monday. This will be overshadowing industry headwinds like inflationary pressure and weaker ringgit, it noted. &nbsp;

Banking sector poised for continued growth on ongoing loan expansion, stabilising NIM, higher NII — analysts 

The health of the Malaysian manufacturing sector was broadly stable at the end of the second quarter of the year.

In a statement on Monday, S&amp;P Global Market Intelligence said new orders increased for the second month running, in part thanks to a rise in exports, but overall demand remained subdued.

New orders rise amid improving export sales in June — S&P Global

Bank Negara Malaysia (BNM) announced that Project Nexus, a multilateral platform that seeks to enhance cross-border payments, is ready to proceed to phase four, following the successful completion of its comprehensive blueprint in phase three.

BNM: Regional payment platform Project Nexus is preparing to go live

An Opposition member of Parliament (MP) has called on the Ministry of Defence to clarify whether the Armed Forces Fund Board (LTAT) is in talks to sell the petrol station operator Boustead Petroleum Marketing Sdn Bhd (BHPetrol).

Opposition MP alleges LTAT in talks to sell BHPetrol to Saudi Aramco

Prime Minister Datuk Seri Anwar Ibrahim on Monday assured that the government will maintain the Bumiputera quota for Sijil Pelajaran Malaysia (SPM) holders to continue their studies at the matriculation level.

Govt assures Bumiputera quota for matriculation will remain unchanged — Anwar

Shares in Hiap Teck Venture Bhd (KL:HIAPTEK) rose in early trade on Monday, after the steel company reported better-than-expected third quarter results.