<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 20): Tiong Nam Logistics Holdings Bhd has set up a new unit in China to expand its logistics business to that country.</p></div>

<div class=newsTextDataWrapInner><p>Called Tiong Nam Logistics Solutions (Shenzhen) Co Ltd, it is held by wholly-owned subsidiary Tiong Nam Logistics Solutions Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>Tiong Nam's venture into China came after it was reported that Chinese e-commerce giant Alibaba Group Holding Ltd plans to set up a regional distribution hub in Malaysia to cater its fast-growing business in the region.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Earlier, in an interview with <em>The Edge Financial Daily</em> in November last year, Tiong Nam managing director and founder Ong Yoong Nyock said the homegrown logistics firm is creating an Asean-wide cross-border road transportation network that will link Singapore, Malaysia, Thailand, Laos and Vietnam with its hub in Guangzhou, China, riding the wave of e-commerce boom.</p></div>

<div class=newsTextDataWrapInner><p>Tiong Nam is the largest trucking company in the country with about 2,000 lorries of various capacities, including open, box, bonded and refrigerated containers.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Tiong Nam closed 10 sen or 6.2% higher at RM1.71, with 6.88 million shares traded, for a market capitalisation of RM714.99 million.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (March 20): Tiong Nam Logistics Holdings Bhd has set up a new unit in China to expand its logistics business to that country.

Called Tiong Nam Logistics Solutions (Shenzhen) Co Ltd, it is held by wholly-owned subsidiary Tiong Nam Logistics Solutions Sdn Bhd.

Tiong...

Tiong Nam sets up new logistics firm in China

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

Gamuda, MUI Properties, Chin Teck Plantations, Gadang, Apex Equity, Samaiden, Yinson, Well Chip, Sunway, EA Technique

US stock markets will close Jan 9, in observance of a national day of mourning for former President Jimmy Carter.

The New York Stock Exchange, Nasdaq Inc’s US equities exchanges and Cboe Global Markets Inc will shut, the companies said. CME Group Inc, operator of US-based equity and interest-rates markets, had not yet commented on its plans.

US stock market to close Jan 9 on Carter’s day of mourning

Ukraine and Russia carried out a new exchange of prisoners of war on Monday, with Kyiv bringing home 189 former captives, President Volodymyr Zelenskiy said on Monday.

Zelenskiy thanked the United Arab Emirates and other partners for facilitating the swap.

Ukraine says it brings home 189 POWs in swap with Russia

Wall Street's main stock indexes opened sharply lower on Monday and hit their lowest in over a week, as sparse trading volumes and the specter of elevated treasury yields cast a cloud over the traditionally strong year-end rally for equities.

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Sunway Bhd (KL:SUNWAY) has appointed its independent director Datuk Mohd Anuar Taib to an executive role as deputy president effective Jan 2, 2025.

Anuar, who will step down as chief executive officer of Sapura Energy Bhd (KL:SAPNRG) on Tuesday (Dec 31), joined the board of Sunway in July 2023 as an independent non-executive director.

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A federal appeals court on Monday upheld a US$5 million (RM22.3 million) verdict that E Jean Carroll won against Donald Trump when a jury found the US president-elect liable for sexually abusing and later defaming the former magazine columnist.

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EVENING 5: 2024: A data driven year

Fitch Ratings is expecting crude palm oil prices to retreat from the current level of over US$1,100 to US$800 (RM3,576) per tonne in 2025.

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Petroliam Nasional Bhd (Petronas), in response to an online news portal's report that it might be trimming its workforce due to its gas distribution agreement with Petroleum Sarawak Bhd, said it is conducting a comprehensive review of its own productivity.

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The flood situation in Kelantan and Terengganu is improving as the number of evacuees continue to drop, while in Johor, one new relief centre has been opened as of 8pm.

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<p>Gamuda Bhd is acquiring 389.7 acres of land in the Springhill Industrial Park, Port Dickson for RM424.4 million from a joint venture (JV) between MUI Properties Bhd (MUIPROP) and Chin Teck Plantations Bhd.</p>


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<p>Petroliam Nasional Bhd (Petronas), in response to an online news portal's report that it might be trimming its workforce due to its gas distribution agreement with Petroleum Sarawak Bhd, said it is conducting a comprehensive review of its own productivity.</p>


<p>A businessman with a Datuk Seri title, his daughter, son-in-law, and two employees, pleaded not guilty in the Ayer Keroh magistrates court to charges of causing hurt and threatening an insurance manager last month.</p>

<p>Mohamad Fazil Shafie, 62, Nur Amalina Mohamad Fazil, 33, and Amran Azmi, 32, and their employees, Azian Ab Rahim, 37, and Muhammad Azrul Syafiq Rosman, 28, are accused of jointly and intentionally injuring Muhammad Nur Hakim Baharudin, 30.</p>


Datuk Seri and four others charged with injuring insurance manager

<p>KUALA LUMPUR (Dec 30): Higher electricity bills will harm steel companies’ competitiveness and impair the decarbonisation efforts of an industry grappling with losses over the past three years, a trade group said on Monday.</p>


Steel trade group warns higher electricity tariffs will impair competitiveness, decarbonisation

<p>The new staffer was supposed to help Toronto-Dominion Bank spot money laundering from an outpost in New York.</p>

<p>She instead used her access to bank data to distribute customer details to a criminal network on Telegram, according to prosecutors in Manhattan.</p>


Bank insiders are leaking data on client accounts as scams surge

<p>KUALA LUMPUR (Dec 30): Prime Minister Datuk Seri Anwar Ibrahim said immediate steps will be taken to stimulate growth, enhance the tourism sector, and ensure the preservation of biodiversity on Langkawi Island, Kedah.</p>


Anwar: Immediate steps to boost Langkawi tourism industry

<p>KUALA LUMPUR (Dec 30): Former AEON BiG managing director Sheikh Farouk Sheikh Mohamed has been appointed as the chief executive of the Malaysian Employers Federation (MEF), effective Jan 1, 2025.</p>

<p>In a statement, MEF president Datuk Syed Hussain described Sheikh Farouk as the "ideal choi...

Former AEON BiG MD Sheikh Farouk appointed MEF chief executive

<p>Well Chip Group Bhd (KL:WELLCHIP), a Johor-based pawnbroker listed in July this year, announced an acquisition of three pawnbroking companies in Perak for RM63.44 million in cash.</p>

<p>In an exchange filing, the Main Market-listed firm said it is taking over the three companies, namely Pajak Gadai Koong Sing Sdn Bhd, Lian Foh Pawnshop Sdn Bhd and Fook Foh Pawnshop Sdn Bhd. These companies will become Well Chip’s wholly-owned subsidiaries following the proposed acquisition, slated to be completed by the first quarter of 2025. &nbsp;</p>


Well Chip acquires three pawnshops in Perak for RM63 mil

<p>Yinson Production, the offshore business arm of Yinson Holdings Bhd (KL:YINSON), has secured an 18-month extension for the bareboat charter contract of its floating production storage and offloading (FPSO) unit operating in offshore Vietnam.</p>


Yinson unit secures RM161.8m bareboat charter extension for FPSO unit

<p>The Adani Group will exit from Mumbai-listed Adani Wilmar Ltd in a US$2 billion (RM8.94 billion) multi-phased deal by selling its stake in its consumer joint venture (JV), as the conglomerate’s flagship focuses on its core infrastructure businesses.</p>


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<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Monday</p>


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<p>Commercial aviation has suffered its deadliest year since 2018 after the Jeju Air Co disaster in South Korea and last week’s downing of an Azerbaijan Airlines plane.</p>


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<p>SHAH ALAM (Dec 30): A catering supply company on Monday became the first employer in Malaysia to have its assets seized after failing to settle its Social Security Organisation (Socso) contributions totalling RM19,765.20.</p>

<p>Selangor Perkeso director Ismail Abi Hashim said the action was t...

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<p>The Penang Water Supply Corporation has activated its dry weather protocols since mid-November to ensure adequate water supply in preparation for high water demand during the festive season in the first quarter of 2025.</p>

<p>Its chief executive officer Datuk K Pathmanathan added that the corporation is urging consumers to use water with care during the first quarter of 2025 and recommended that water conservation practices be used till the expected more consistent rainfall occurs in April or May next year.</p>


Penang Water Supply Corp activates dry weather protocol to ensure adequate water supply

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


<p>The final process of Sarawak's takeover of MASwings Sdn Bhd (MASwings) is expected to be finalised by the first quarter of 2025, said Sarawak Premier Tan Sri Abang Johari Tun Openg.</p>


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<p>Sunway Bhd (KL:SUNWAY) has appointed its independent director Datuk Mohd Anuar Taib to an executive role as deputy president effective Jan 2, 2025.</p>

<p>Anuar, who will step down as chief executive officer of Sapura Energy Bhd (KL:SAPNRG) on Tuesday (Dec 31), joined the board of Sunway in July 2023 as an independent non-executive director.</p>


<p>GEORGE TOWN (Dec 30): Loong Air launched a new direct flight connecting Xi'an, China to Penang at the Penang International Airport on Monday.</p>

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