<div class=newsTextDataWrapInner>UEM Sunrise 3Q net profit falls 61% on year to RM71m, revenue lower at RM471m</div>

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UEM Sunrise 3Q net profit falls 61% on year to RM71m, revenue lower at RM471m

 
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UEM Sunrise 3Q net profit falls 61% on year to RM71m, revenue lower at RM471m

UEM Group, the wholly owned infrastructure arm of Khazanah Nasional Bhd, has not given an interview to the press in more than a decade. Current managing director Datuk Amran Hafiz Affifudin who had been on the top job at UEM Group for 119 days at the time of the interview, explains that the long silence does not indicate inactivity at the diversified group, as there was also a change in direction at the company, brought about by the need for Khazanah to pursue green infrastructure ventures in a big way, and for the sovereign wealth fund to strengthen local investments, among other considerations.

Sleeping giant UEM Group stirs

The Malaysian Anti-Corruption Commission (MACC) remanded a company director with the 'Datuk' title, and a civil servant on suspicion of corruption in return for securing construction projects in Sarawak worth about RM250 million.

MACC remands company director with 'Datuk' title, civil servant in connection with RM250m corruption case in Kuching

South Korean President Yoon Suk Yeol on Saturday apologised for his attempt to impose martial law this week, and bowed during a televised speech to the nation, only hours head of a planned impeachment vote.

South Korea's Yoon apologises for martial law ahead of impeachment vote

Global stocks advanced on Friday as investors raised their bets on the prospect of a US interest rate cut this month, after payrolls data showed strong job growth in November, while the euro dipped against the dollar as political turmoil gripped France.

Wall Street adds to stock, rate cut bets after 'Thanksgiving buffet' jobs data

Here is a brief recap of the business news and corporate announcements that made the headlines on Friday:

Genting, JAKS Resources, KIP REIT, ITMAX, OSK Holdings, Kawan Food, Crescendo Corp, Cypark, FSBM, MMAG

SNS Network Technology Bhd (KL:SNS) has signed a three-year memorandum of understanding with Mimos Bhd to enhance software testing processes and drive innovation in artificial intelligence (AI).

SNS Network, Mimos partner to boost AI innovation and software testing capabilities

Wall Street's main indexes edged higher on Friday, with the S&P 500 and the Nasdaq touching intraday record highs as traders increased bets on a Federal Reserve rate cut this month following robust November payrolls data.

Wall Street climbs after monthly jobs data boosts December rate-cut bets

Things were already looking bad for Intel Corp shares this year. But the chipmaker’s sudden ouster of its chief executive officer has led to even more investors throwing in the towel.

Intel’s lack of a clear plan makes Wall Street even more bearish

A US federal appeals court on Friday upheld a law requiring Chinese-based ByteDance to divest its popular short video app TikTok in the United States by early next year or face a ban.

US appeals court upholds TikTok law forcing its sale

The flood situation in the country continued to improve as the number of flood evacuees in relief centres dropped steadily, with Terengganu fully recovering from flooding.

Flood situation continues to improve with number of evacuees dropping

Here is a brief recap of the business news and corporate announcements that made the headlines on Friday:

Tanco Holdings Bhd (KL:TANCO) announced that its 79%-owned subsidiary, Midports Holdings Sdn Bhd (MHSB), is exploring a potential collaboration with Hong Kong-listed Cosco Shipping Ports Ltd for the operation and management of MHSB's proposed "smart AI container port project" in Port Dickson, Negeri Sembilan.

Tanco unit and HK-listed Cosco Shipping explore partnership to manage proposed Port Dickson AI port 

Wall Street's main indexes edged higher on Friday, with the S&amp;P 500 and the Nasdaq touching intraday record highs as traders increased bets on a Federal Reserve rate cut this month following robust November payrolls data.

SNS Network Technology Bhd (KL:SNS) has signed a three-year memorandum of understanding with Mimos Bhd to enhance software testing processes and drive innovation in artificial intelligence (AI).

Things were already looking bad for Intel Corp shares this year. But the chipmaker’s sudden ouster of its chief executive officer has led to even more investors throwing in the towel.

South Korean President&nbsp;Yoon&nbsp;Suk Yeol on Saturday apologised for his attempt to impose martial law this week, and bowed during a televised speech to the nation, only hours head of a planned impeachment vote.

A US federal appeals court on Friday upheld a law requiring Chinese-based ByteDance to divest its popular short video app TikTok in the United States by early next year or face a ban.

The Malaysian Anti-Corruption Commission (MACC) remanded a&nbsp;company director with the 'Datuk' title, and a civil servant on suspicion of corruption in return for securing construction projects in Sarawak worth about RM250 million.

Global&nbsp;stocks advanced on Friday as&nbsp;investors raised their bets on the prospect of a US&nbsp;interest rate cut this month, after payrolls data showed&nbsp;strong&nbsp;job growth in November, while the euro dipped against the dollar as political turmoil gripped France.

A weekly round-up of tanker and dry bulk market (Dec 6, 2024)

<div class="pb-5 imgw-800 mx-auto d-block"><a class="mobx embedimg-icon" data-rel="ceolightbox" href="https://myassets.theedgemalaysia.com/pics/2024/20241206222232_BDI-BDI-101123-081124-2_20241206222232_.png"><i...

Baltic Exchange shipping updates: Dec 6, 2024

Shareholders of Ubisoft Entertainment SA are considering how to structure a possible buyout of the Assassin's Creed video game maker without reducing the founding family's control, two people familiar with the matter told Reuters.

Ubisoft shareholders in talks over possible buyout terms — Reuters

The flood situation in the country continued to improve as the number of flood evacuees in relief centres dropped steadily, with Terengganu fully recovering from flooding.

UEM Group, the wholly owned infrastructure arm of Khazanah Nasional Bhd, has not given an interview to the press in more than a decade. Current managing director Datuk Amran Hafiz Affifudin who had been on the top job at UEM Group for 119 days at the time of the interview, explains that the long silence does not indicate inactivity at the diversified group, as there was also a change in direction at the company, brought about by the need for Khazanah to pursue green infrastructure ventures in a big way, and for the sovereign wealth fund to strengthen local investments, among other considerations.

The European Union (EU) and the South American Mercosur bloc clinched a long-sought trade deal over the vehement objections of France, which has pledged to lead a charge to obstruct its ratification.