<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 26): Tycoon Tan Sri Shamsuddin Abdul Kadir has transferred all of his shares in Sapura Industrial Bhd to his wife Puan Sri Mariam Parineh, its Bursa Malaysia filing showed on Tuesday (July 26).</p></div>

<div class=newsTextDataWrapInner><p>Shamsuddin, 91, transferred his entire 28% stake or 20.38 million shares in the group — which he holds through investment vehicle SAK Asset Ventures Sdn Bhd — to his wife on July 20.</p></div>

<div class=newsTextDataWrapInner><p>Notably, Shamsuddin is the father of former Sapura Energy Bhd chief executive officer Tan Sri Shahril Shamsuddin.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Based on data from <em>Bloomberg</em>, Shahril holds a 1.96% stake in Sapura Industrial.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Sapura Industrial closed unchanged at 75.5 sen, giving it a market capitalisation of RM54.95 million.</p></div>


Tycoon Tan Sri Shamsuddin Abdul Kadir has transferred all of his shares in Sapura Industrial Bhd to his wife Puan Sri Mariam Parineh, its Bursa Malaysia filing showed on Tuesday (July 26).

Tycoon Shamsuddin Abdul Kadir transfers all Sapura Industrial shares to his wife

MEXICO CITY (Nov 28): Mexican President Claudia Sheinbaum said on Wednesday Mexico would retaliate if U.S. President-elect Donald Trump followed through with his proposed 25% across-the-board tariff, a move her government warned could kill 400,000 U.S. jobs.

"If there are U.S. tariffs, ...

Mexico warns Trump tariffs would kill 400,000 US jobs, threatens retaliation

A total of 11 electricity substations have been shut down as of Wednesday night due to the increasingly worrying flood situation around Kota Bharu, Machang and Tanah Merah.

TNB shuts down 11 substations in Kelantan as floods worsen; three district offices shutter in Pasir Mas

Communications Minister Fahmi Fadzil will meet with the management of three news portals on Thursday to address the issue of unpaid salaries for media personnel.

Fahmi says will address salary arrears with news portals on Thursday

The flood situation in Kelantan and Terengganu has worsened, with the number of evacuees rising, and additional temporary evacuation centres being opened, as of 8pm.

Number of flood evacuees in Kelantan, Terengganu on the up

Citaglobal Bhd (KL:CITAGLB) has firmed up its collaboration with electric vehicle maker Tree Technologies Sdn Bhd to develop an industrial park with green elements in Pahang. It also proposed a bonus issue of up to 88.07 million free warrants.

Citaglobal firms up collaboration to develop eco-friendly industrial park, proposes one-for-five bonus warrants

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

AMMB, Inari, FGV, PetGas, TIME dotCOM, IJM, Chin Hin, Media Prima, Hengyuan, Kerjaya Prospek, BHIC, Tropicana Corp

The S&P 500 and the Nasdaq edged lower on Wednesday, weighed by a decline in technology stocks, while investors focused on the Federal Reserve's next move following an in-line inflation reading.

Tech stocks drag on S&P 500, Nasdaq after inflation data

Nationgate Holdings Bhd’s (KL:NATGATE) net profit more than doubled for the third quarter on a record high quarterly topline, boosted by unrealised foreign exchange (forex) gains.

Hefty forex gain keeps Nationgate profitable in 3Q

Technology solutions provider Microlink Solutions Bhd (KL:MICROLN) posted its biggest quarterly net loss of RM85.1 million since its listing on Bursa Malaysia in 2006, no thanks to a software development expenditure write-off and specific provisions made on goodwill upon changes in its business performance.

Microlink posts biggest quarterly loss in 2Q on software development expenditure, goodwill impairment

Brookfield Asset Management Ltd walked away from a plan to acquire Grifols SA, ending months of negotiations to take over the Spanish blood-plasma company.

Brookfield drops US$6.8 bil offer to buy drugmaker Grifols

<p>Genetec Technology Bhd (KL:GENETEC), whose share price tumbled to a more than three-year low at end-October, rebounded strongly over recent weeks.</p>


Genetec shares hit three-month high after quarterly results announcement

<p>The suspended group CEO of TMC Life Sciences Bhd (KL:TMCLIFE) has pushed back against allegations of misconduct levied upon her, alleging that the healthcare provider is attempting to “pin the blame” on her over certain contract decisions.</p>


Suspended CEO says TMC Life Sciences trying to ‘pin blame’ on her over certain contract issues

<p>MALAYSIA’s push towards digitalisation is drawing keen interest from global tech giants, with Amazon Web Services Inc (AWS), Microsoft Corp, Google and Oracle Corp committing a combined investment of US$16.9 billion (RM75 billion) through to 2038.</p>

<p>These investments reflect Malaysia’s po...

Oracle: US$6.5 bil investment in Malaysia ‘more than a data centre’

<p>FGV Holdings Bhd (KL:FGV), Malaysia’s largest producer of palm oil by volume, nearly tripled its net profit in the third quarter thanks to higher output and prices that may stay high in the remaining months of 2024.</p>


FGV’s 3Q net profit nearly triples on higher output, prices

<p>At a record price tag of almost RM1,800 psf, The Light City in Gelugor is set to feature the most expensive project in Penang with the upcoming launch of Lightwater Residences, says IJM Land Bhd CEO Datuk Tony Ling.</p>

<p>In an exclusive interview with <em>City &amp; Country</em>, he explains...

The Light City to launch Penang’s most expensive condo

<p>Sarawak’s state government has become the largest shareholder of banking group Affin Bank Bhd, after the completion of a deal with Lembaga Tabung Angkatan Tentera (LTAT) for the acquisition of 165.05 million shares or 6.87% in the bank.</p>


Sarawak is now Affin's largest shareholder with 31.25% stake

<p>The Court of Appeal has upheld the High Court's insider trading conviction against former Patimas Computers Bhd deputy chairman Datuk Raymond Yap Wee Hin.</p>


Court upholds insider trading conviction against former deputy chair of Patimas Computers

<p>Eight people have filed a RM60 million class action suit against the World Health Organization (WHO), its director general Dr Tedros Adhanom Ghebreyesus, vaccine companies Pfizer Inc and Sinovac Biotech Ltd (Beijing), and 21 others, including current and former government officials, for damages in relation to Covid-19 vaccinations that had been made compulsory.</p>


Eight sue WHO, ex- and current PMs, two vaccine companies, govt over Covid vaccinations

<p>Chin Hin Group Bhd (KL:CHINHIN) more than doubled its net profit for the third quarter thanks to revenue from newly-acquired subsidiaries that significantly boosted its overall gross margin.</p>


Chin Hin more than doubles 3Q net profit with newly-acquired subsidiaries

<p>Prime Minister Datuk Seri Anwar Ibrahim is set to unveil an affordable housing project next month, backed by an RM13 billion investment, Housing and Local Government Minister Nga Kor Ming said.</p>


Nga: PM to announce RM13b affordable housing project next month

<p>Inari Amertron Bhd (KL:INARI) reported a 71.6% drop in net profit for the July-September period, dragged by a foreign exchange (forex) loss of RM53.3 million, following a steep drop in the US dollar against the ringgit. &nbsp;</p>


Inari's 1Q earnings drop to lowest in almost nine years as forex loss weighs

<p>&nbsp;Chinese companies’ foreign-currency debt load has shrunk significantly, reducing a key source of vulnerability under Donald Trump’s second presidency.</p>


China companies cut foreign-currency debt just in time for Trump

<p>In October 2018, former prime minister Datuk Seri Najib Razak and former&nbsp;Treasury secretary general Tan Sri Dr Mohd Irwan Serigar Abdullah were brought to court to face six criminal charges of criminal breach of trust (CBT) amounting to RM6.6 billion in government funds involving payments to the International Petroleum Investment Company (IPIC).&nbsp;</p>


Prosecution owes public duty to recharge Najib and Irwan — Hanipa Maidin

<p>Sweden is asking a Chinese vessel to return to Swedish waters to help facilitate an investigation into recent breaches of undersea fibre-optic cables in the Baltic Sea, Prime Minister Ulf Kristersson said on Tuesday, but stressed he was not making any accusations.</p>


Sweden urges Chinese ship to return for undersea cable investigation

<p>A government backbencher has called on Bank Negara Malaysia (BNM) to investigate insurance companies for "excessive profiteering" over premium hikes.</p>


Govt backbencher urges Bank Negara to probe 'excessive profiteering' by insurers over premium hikes

<p>IJM Corp Bhd’s (KL:IJM) net profit for the second quarter ended Sept 30, 2024 (2QFY2025) fell 20.8% to RM74.21 million from RM93.69 million a year earlier, due to higher unrealised foreign exchange (forex) losses.</p>


IJM Corp expects stronger FY2025, despite 21% drop in 2Q net profit

<p>Forest City's Special Financial Zone (SFZ) will prioritise two key sectors: banking and financial services, alongside logistics services, global service centres, and transfer services.</p>


Forest City's Special Financial Zone to prioritise banking, logistics, says Johor MB

<p>Investors snapped up shares of fertiliser firm Cropmate Bhd at its initial public offering (IPO) with the public tranche oversubscribed nearly 85 times.</p>

<p>Demand totalled 3.17 billion shares valued at RM633.81 million for 36.9 million new shares available for subscription, the company said in an exchange filing.</p>


Cropmate IPO shares oversubscribed nearly 85 times, set for Dec 5 listing on ACE Market

<p>Sales of foreign-branded smartphones, including Apple Inc's&nbsp;iPhone, in China fell 44.25% year-on-year (y-o-y) in October, according to data from a government-affiliated research firm released on Wednesday.</p>


Foreign smartphone sales in China down 44% y-o-y in October, data show

<p>TIME dotCom Bhd (KL:TIMECOM) has reported a 44.93% decline in third-quarter net profit to RM58.71 million, from RM106.60 million a year earlier, due mainly to a foreign exchange (forex) loss.</p>
