KUALA LUMPUR: Transocean Holdings Bhd has appointed Datuk Mohd Nadzmi Mohd Salleh as its chairman and managing director to replace Tung Sing Hong who resigned yesterday.</div>

<div class=newsTextDataWrapInner>In a filing to Bursa Malaysia yesterday, the company said Nadzmi, who has vast working experience including holding the posts of CEO of Edaran Otomobil Nasional Bhd (EON) and CEO of Perusahaan Otomobil Nasional Bhd (Proton), would take up his latest appointment with immediate effect.</div>

<div class=newsTextDataWrapInner>Nadzmi, 55, is currently the chairman of Proton Holdings Bhd and holds directorship in several public companies including Kumpulan Kenderaan Malaysia Bhd, JT International Bhd and VS Industry Bhd.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner> This article appeared in The Edge Financial Daily, October 2, 2009.

KUALA LUMPUR: Transocean Holdings Bhd has appointed Datuk Mohd Nadzmi Mohd Salleh as its chairman and managing director to replace Tung Sing Hong who resigned yesterday.

In a filing to Bursa Malaysia yesterday, the company said Nadzmi, who has vast working experience including holding the posts of CEO of Edaran Otomobil Nasional Bhd (EON) and CEO of Perusahaan Otomobil Nasional Bhd (Proton), would take up his latest appointment with immediate effect.

Nadzmi, 55, is currently the chairman of Proton Holdings Bhd and holds directorship in several public companies including Kumpulan Kenderaan Malaysia Bhd, JT International Bhd and VS Industry Bhd.

This article appeared in The Edge Financial Daily, October 2, 2009.

Transocean appoints Nadzmi as chairman, MD

Malaysia aims to enhance the use of local currencies in cross-border trade and investment transactions through BRICS cooperation, thereby reducing transaction costs and foreign exchange risks.

Malaysia to expand local currency use through BRICS cooperation — MOF

A consortium led by US billionaire Todd Boehly is preparing a securities swap to acquire sanctioned Russian oil major Lukoil's international assets and a deal is expected within weeks, four people close to the sales process said.

US billionaire leads swap plan to buy Lukoil's overseas assets — Reuters

Binance said on Tuesday hackers used a bogus job interview to compromise a computer and an internal artificial intelligence (AI) tool to gain control over the company's wallets before draining US$6.3 billion (RM25.7 billion) worth of crypto, in what could be the largest-ever financial heist.

Binance hackers used fake job interview to compromise computer before US$6.3 bil attack

New orders for US factory goods increased more than expected in September, boosted by bookings for aircraft and a range of other goods, government data showed on Tuesday.

US factory orders beat expectations in September amid broad strength

The S&P 500 and the Nasdaq rose on Tuesday on a further drop in crude oil prices ahead of US midterm election results, while Apple joined the list of Big Tech companies whose earnings failed to impress investors.

S&P 500, Nasdaq edge higher ahead of midterm results; Apple falls

US job openings increased sharply in September while layoffs fell, supporting economists' views that the labour market remained on firmer footing despite tepid employment gains during that month.

US job openings increase sharply in September

Ferrari on Tuesday raised forecasts for this year's results after beating consensus on core profit and revenue in the third quarter, sending shares in the Italian luxury sports car maker up as much as 4.7%.

Ferrari lifts forecasts after outperformance, Luce EV demand strong

President Donald Trump on Tuesday said he made a deal with Israeli Prime Minister Benjamin Netanyahu that Washington would stop US$4 billion (RM16.3 billion) in funding to Israel after the end of this year.

Trump says US will stop US$4b in funding to Israel at end of 2026

Gold prices ticked up on Tuesday as a decline in oil prices slightly eased inflation concerns, while investors awaited the outcome of US midterm elections for fiscal policy clues.

Gold edges higher on softer oil prices; US midterms in focus

A brief recap of some business news and corporate announcements that made the headlines on Tuesday.

IOI Properties, IOIPG REIT, Tenaga Nasional, GDB, TWL, HB Global, Malakoff, Orkim, Pertama Digital, MMCS, Asdion, Pekat, Theta Edge, ES Sunlogy

<div class="content-side-bar-box">
Summary

•&nbsp;&nbsp; &nbsp;654 buyers of 8 Conlay units face a vote within days on a RM700 million rehabilitation that would restart construction, wipe out LAD and end the Kempinski brand

<p...

Light at the end of the tunnel for KL’s 8 Conlay?

PUTRAJAYA (Nov 3): A three-member Court of Appeal bench on Tuesday allowed lawyer Mahajoth Singh’s appeal to have the merits of his judicial review challenge against the Malaysian Anti-Corruption Commission (MACC) heard.

Albert Tei’s lawyer wins appeal to have MACC challenge heard

Malaysia’s Transport Minister Anthony Loke maintained his decision to step down once home confinement for former prime minister Datuk Seri Najib Razak begins, Nikkei Asia reported on Tuesday.

DAP’s Loke still plans to quit Cabinet, says projects safe — report

Monies totalling RM14 billion in Malaysia are unclaimed as of September this year, as most of the beneficiaries are unaware what is owed to them or delay making claims.

About RM14b unclaimed as owners unaware or delay making claims  

PUTRAJAYA (Nov 3): A three-member Court of Appeal bench has deferred the hearing of the final appeal by a former magistrate who was convicted of six counts of graft and sentenced to 12 years’ jail and fined a total of RM1.05 million.

Court of Appeal defers former magistrate’s final graft appeal over lawyer’s lack of preparation

The Inland Revenue Board (IRB) has audited and investigated a total of 408,726 cases throughout this year, resulting in additional tax assessments amounting to about RM7.7 billion.

IRB: RM7.7 bil in additional assessments discovered after auditing 408,726 cases

IOI Properties Group Bhd (KL:IOIPG) is looking to launch a private real estate fund for its Singapore assets in the next few months.

IOI Properties to launch Singapore private fund in next few months, secondary listing in early 2027

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Summary

•&nbsp;&nbsp; &nbsp;Eng Lian group has proposed to take Toyo Ventures private via selective capital reduction (SCR) and repayment scheme at 28 sen per share

•&nbsp;&nbsp; &nbsp;Toy...

Eng Lian’s costly energy bet on Toyo Ventures ends in 28 sen buyout

Tenaga Nasional Bhd (KL:TENAGA) has teamed up with IOI Corporation Bhd (KL:IOICORP) and a consortium of 12 small and medium enterprises (SMEs) to develop a 500MW solar power project in Bahau, Negeri Sembilan.

Tenaga, IOI Corp, SME consortium to develop 500MW solar project in Negeri Sembilan

<h3>Malaysian REITs</h3>

OVERWEIGHT

RHB INVESTMENT BANK (OCT 20): We continue to like the M-REITs sector for its defensive qualities, with underlying fundamentals still healthy d...

Brokers Digest: Local Equities - Malaysian REITs, CIMB Group Holdings Bhd, Gamuda Bhd, Mr DIY Group (M) Bhd

KUALA LUMPUR (Nov 3): GDB Holdings Bhd (KL:GDB) on Tuesday said it has secured a construction contract worth RM877 million to demolish an existing factory and build a two-block, five-storey logistics hub in Seksyen 15, Shah Alam.

GDB bags RM877m construction job to build logistics hub in Shah Alam

US chipmaking giant Nvidia is ordering its data centre partners to scale back work with Chinese customers, the Financial Times&nbsp;(FT) reported on Tuesday.

Nvidia ordering data centre clients to reduce China exposure — FT

KUALA LUMPUR (Nov 3):&nbsp;A total of 12 cloud seeding operations were carried out in several parts of Peninsular Malaysia and Sarawak between Aug 30 and Oct 23 to mitigate the impact of transboundary haze on the country's air quality.

Twelve cloud seeding operations conducted during transboundary haze episode

Fashion Valet Sdn Bhd is not allowed to give any loan or credit to directors, shareholders, related companies or any party without the approval of the majority of its board, the court heard on Tuesday.

FashionValet not authorised to give credits, advances without board approval, court hears

Former economy minister Datuk Seri Mohd Rafizi Ramli turned up at the Royal Malaysian Police (PDRM) headquarters in Bukit Aman on Tuesday to give his statement regarding a speech he delivered at a ceramah in Selayang, Selangor, last month.

Rafizi gives police statement over allegations involving 'corporate mafia', RM9.5m payment and Azam Baki

TWL Holdings Bhd (KL:TWL) is seeking shareholders’ approval for another batch of employee share option scheme (Esos) grants made without prior approval, this time involving 119.7 million options awarded to Datin Sek Chian Nee, the wife of its executive chairman and major shareholder Datuk Tan Wei Lian.

TWL Holdings again seeks approval for Esos grants made without prior consent, this time to chairman’s wife

Datuk Low Chin Koon, 46, the non-executive chairman of Tex Cycle Technology (M) Bhd (KL:TEXCYCL), has emerged as a substantial shareholder of auto parts supplier MCE Holdings Bhd (KL:MCEHLDG) after increasing his stake in the company.

Tex Cycle chairman Low Chin Koon becomes substantial shareholder of MCE Holdings 

Gross direct tax collection for the first 10 months of 2026 rose 5.8% to RM174.48 billion, up from&nbsp;RM164.92 billion in the same period last year, said Prime Minister Datuk Seri Anwar Ibrahim.&nbsp;

Gross direct tax collection up 5.8% to RM174.48 bil in first 10 months of year — PM

Yinson Holdings Bhd's (KL:YINSON) green technology arm Yinson GreenTech has partnered with Saxon Renewables to generate carbon credits from its electric vehicle (EV) charging infrastructure in Malaysia.

Yinson GreenTech teams up with Saxon Renewables on carbon credits from EV charging

(Nov 3): American voters will deliver a verdict on the first two years of President Donald Trump's second term in Tuesday's midterm elections, with polls and nonpartisan analysts favoring Democrats to wrest the House from Republicans while control of the Senate remains uncertain.