<div class=newsTextDataWrapInner>SINGAPORE (March 31): Charges have been brought against Chen Zhihao Samuel and Wong Tuck Wai Raymond for carrying out a scheme to defraud the Central Provident Fund (CPF) board.</div>

<div class=newsTextDataWrapInner>Between September 2017 and January 2019, Chen withdrew funds from his CPF Ordinary Account (OA), by incurring trading losses when he bought shares from Wong at artificially high prices and<a href="https://www.theedgesingapore.com/news/company-news/two-charged-attempt-defraud-cpf" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div>
</div><div class=inPageAd id=div-gpt-ad-inpage>

SINGAPORE (March 31): Charges have been brought against Chen Zhihao Samuel and Wong Tuck Wai Raymond for carrying out a scheme to defraud the Central Provident Fund (CPF) board.

Two charged for attempt to defraud Singapore's Central Provident Fund

(Sep 27): The Pentagon praised China for its transparency before the test launch of an intercontinental ballistic missile into the Pacific Ocean, in a sign that military communication between the superpowers is improving.

“We did receive some advanced notification of this ICBM test...

US hails early notice of China ICBM test to avoid miscalculation

Wells Fargo & Co has entered a key new phase of its almost seven-year effort to escape a Federal Reserve cap on its assets, a punishment that has become the most feared in banking.

Wells Fargo sends US Fed crucial review for lifting asset cap

Here is a brief recap of some corporate announcements that made the news on Thursday.

Capital A, Gamuda, Sapura Energy, AEON Credit, Hiap Teck, HCK, Seal, Censof, Yenher, Citaglobal, Lambo

Italy’s Industry Minister Adolfo Urso backed a potential takeover of Commerzbank AG by Milan-based UniCredit SpA which has threatened to sour relations between Berlin and Rome.

Italy Industry Minister backs UniCredit-Commerzbank deal

US Treasury Secretary Janet Yellen said on Thursday that labour market and inflation data suggest the US economy is on a path to a "soft landing," but the "last mile" on taming inflation is bringing down housing costs.

Yellen says economy on 'soft landing' path, Fed's policy rate will fall to neutral level

Trading in the shares of Lambo Group Bhd (KL:LAMBO) will be suspended from Oct 4, following Bursa Malaysia’s rejection of the company’s application for a further extension of time to submit its regularisation plan.

Lambo risks being delisted after Bursa dismisses extension appeal to submit regularisation plan

Commerzbank will hold a first round of talks with UniCredit on Friday, the German bank's designated CEO Bettina Orlopp said, as the Italian lender presses for a possible tie-up and its rival hones its defence.

Commerzbank to begin talks with UniCredit as it woos investors with profit goals

The government believes that the Amazon Web Services (AWS) Asia Pacific (Malaysia) Region’s projected RM57.3 billion contribution to Malaysia's gross domestic product (GDP) could be fast-tracked to 2032 from 2038, given its current pace of development, said Prime Minister Datuk Seri Anwar Ibrahim.

Impact from AWS’ RM57.3b GDP contribution could be felt as soon as 2032 — Anwar

Officials issued dire warnings on Thursday about a strengthening hurricane Helene, pleading with Floridians in coastal areas along the storm's path to evacuate ahead of catastrophic winds and a deadly storm surge.

Forecasters said Helene would reach major hurricane status before making landfall on Thursday evening, potentially as a Category 4 storm with sustained wind speeds of up to 156 miles per hour (251km per hour).

Hurricane Helene gains strength, barrels towards Florida with life-threatening storm surge

Action against GISB Holdings Sdn Bhd (GISBH) is intensifying, with operations planned in Sabah and Sarawak following numerous revelations regarding alleged crimes committed by the organisation in Peninsular Malaysia.

Crackdown on GISBH expands to Sabah, Sarawak

The stocks of two companies controlled by the Chiau Family — Chin Hin Group Bhd (KL:CHINHIN) and Chin Hin Group Property Bhd (KL:CHGP) — were among Bursa Malaysia's top losers on Thursday, continuing their slide that started from earlier this month.

Chiau family-controlled Chin Hin, Chin Hin Group Property among Bursa's top losers

Gamuda Bhd (KL:GAMUDA), whose share price has gained 74.5% year to date, proposed a one-for-one bonus issue, involving an issuance of up to RM2.98 billion bonus shares.

Gamuda plans one-for-one bonus issue, posts higher 4Q net profit

Investments in data centres within Johor’s territory should focus on long-term strategic value rather than being driven solely by property plays, according to Maybank Banking Bhd (KL:MAYBANK) president and group chief executive officer (CEO) Datuk Khairussaleh Ramli.

Data centre investments should not be purely property play, says Maybank

Capital A Bhd’s (KL:CAPITALA) maintenance business has a potential to rival the value of the low-cost airline under AirAsia Bhd, according to its chief executive officer Tan Sri Tony Fernandes.

Capital A's aircraft maintenance arm could be as valuable as AirAsia — Fernandes

AirAsia Bhd, the short-haul airline business of Capital A Bhd (KL:CAPITALA), is planning to introduce mandatory carbon fees on air travel across all AirAsia operations starting January 2025, said its chief executive officer Tan Sri Tony Fernandes.

Fernandes: AirAsia to charge mandatory carbon fees from January 2025

Here is a brief recap of some corporate announcements that made the news on Thursday.

Hiap Teck Venture Bhd’s net profit (KL:HIAPTEK) for the financial year ended July 31, 2024 (FY2024) more than tripled to RM106.3 million from RM30.91 million a year ago, driven by stable steel prices, improved margins and sales volume.

Hiap Teck wraps up FY2024 with threefold jump in net profit to RM106.3m

Datin Seri Rosmah Mansor, who had earlier this month failed to recuse trial judge Adlin Abdul Majid from presiding in the 1Malaysia Development Bhd (1MDB) and SRC International Sdn Bhd’s US$346 billion (RM1.63 billion) suit against her, may be considering asking for the recusal of the judicial commissioner who had replaced Adlin when the latter was transferred to the intellectual property court.

Rosmah replaces lawyers, may request recusal of new judge hearing 1MDB suit against her

Former prime minister Datuk Seri Najib Razak told the High Court here on Thursday that he left the running of SRC International Sdn Bhd to its board of directors as he was overseeing the country's fiscal growth.

Najib points to Malaysia's economic achievements during his time as PM when asked about discrepancies in SRC

Sapura Energy Bhd’s (KL:SAPNRG), which posted a net loss of RM5.23 million in its second quarter ended July 31, 2024 (2QFY2025), said that its ability to win new jobs is crippled by financial constraints, while expecting more foreign exchange (forex) losses.&nbsp;

Financial constraint cripples ability to win new job, says Sapura Energy 

HCK Capital Group Bhd (KL:HCK) is issuing new shares to settle the bulk of an outstanding RM113.35 million debt that its subsidiary owes its executive chairman Tan Sri Clement Hii Chii Kok @ Hii Chee Kok.

HCK to settle bulk of RM113m debt owed to major shareholder Clement Hii by issuing new shares

The government believes that the Amazon Web Services (AWS) Asia Pacific (Malaysia) Region’s projected RM57.3 billion contribution to Malaysia's gross domestic product (GDP) could be fast-tracked to 2032 from 2038, given its current pace of development, said Prime Minister Datuk Seri Anwar Ibrahim.

Dell Technologies launched Dell AI for Telecom, a programme made to simplify and accelerate the adoption of artificial intelligence (AI) deployments for communications service providers (CSPs) during their Dell Technologies Forum 2024 held at Hilton Hotel Kuala Lumpur on Sept 24.

Dell partners Nvidia to launch AI for Telecoms

MSR Green Energy Sdn Bhd (MSR-GE), an associate company of Seal Incorporated Bhd (KL:SEAL), has roped in Sungrow, a China-based solar photovoltaic (PV) inverter and energy storage system provider, to develop a RM645 million battery energy storage system (BESS) project in Sabah.

Seal Inc associate ropes in Sungrow for RM645m battery energy storage project in Sabah

AEON Credit Service (M) Bhd (KL:AEONCR) saw its net profit decline 40.8% to RM71.16 million for the second quarter ended Aug 31, 2024 (2QFY2025) from RM120.19 million a year ago, owing to higher impairment losses on financing receivables.

AEON Credit’s 2Q earnings hit by higher impairment on receivables

The investments that the Retirement Fund Inc (KWAP) are setting aside for the Ministry of Finance’s (MOF) GEAR-uP programme will not adversely affect the retirement fund's investment targets, according to KWAP's chief executive officer (CEO) Datuk Nik Amlizan Mohamed.

Pledges to MOF’s GEAR-uP programme won't hinder KWAP from its investment targets, says CEO

Israel rejected proposals on Thursday for a ceasefire with Hezbollah, defying calls from allies including the United States for a halt in fighting.

Israel rejects US-backed Lebanon ceasefire proposal

Singapore’s transport minister apologised to commuters after a disruption to a mass rapid transit line, in what was a rare breakdown in a country known for its efficiency.

“On behalf of the One Transport Family, I would like to offer my sincere apologies to all our commuters for the disruption,” Minister Chee Hong Tat said in a Facebook post after the Sept 25 incident involving a faulty bogie that damaged a section of the tracks on the East-West line.

Singapore minister apologises for rare lengthy train disruption

Prime Minister Datuk Seri Anwar Ibrahim said that he is prepared to declare his assets any time.