<div class=newsTextDataWrapInner>KUALA LUMPUR (April 5): UMW Oil &amp; Gas Corp Bhd (UMW-OG) has proposed to change its name to Velesto Energy Bhd.</div>

<div class=newsTextDataWrapInner>In a filing with Bursa Malaysia today, the loss-making oil rig player said the new name was approved by the Companies Commission of Malaysia on March 15 and was placed on reserve for 30 days. The validity period has since been extended to July 13.</div>

<div class=newsTextDataWrapInner>The name change is subject to the approval of UMW-OG shareholders at a general meeting to be convened.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>UMW-OG shares closed down 5 sen or 17.54% at 23.5 sen today, with 160.76 million shares done, bringing it a market capitalisation of RM1.93 billion.</div>

KUALA LUMPUR (April 5): UMW Oil & Gas Corp Bhd (UMW-OG) has proposed to change its name to Velesto Energy Bhd.

In a filing with Bursa Malaysia today, the loss-making oil rig player said the new name was approved by the Companies Commission of Malaysia on March 15 and was placed on r...

UMW-OG proposes name change to Velesto Energy

Former treasury secretary general Tan Sri Dr Mohd Irwan Serigar Abdullah was successful in his bid on Wednesday to bring in two former 1Malaysia Development Bhd (1MDB) board members and its former chief financial officer, Azmi Tahir, as third parties in a US$6.59 billion suit filed by 1MDB against Irwan and Arul Kanda Kandasamy, a former president of the company.

COA allows Irwan’s appeal in 1MDB's US$6.59b suit, brings in two ex-board members, former CFO as third parties

UK construction firms cut back on homebuilding in October after being hit by pre-budget jitters, ending a nascent recovery in the sector, according to a closely watched survey.

S&P Global’s overall construction PMI dropped to 54.3 in October, a tumble from the 29-month high of 57.2 seen in September.

UK housebuilding recovery stalled before budget, PMI shows

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Wednesday

FBM KLCI up 0.83% to 1,634.17 on Nov 6, 2024

(Nov 6): The world’s No. 1 cobalt miner is sounding the alarm over the shrinking role of the metal in electric vehicle (EV) batteries.

World’s biggest cobalt miner is gloomy on the EV metal’s future

A Donald Trump presidential election victory would have huge implications for US trade policy, climate change, the war in Ukraine, electric vehicles, Americans' taxes and illegal immigration.

While some of his proposals would require congressional approval, here is a summary of the policies he has said he would pursue in his second four-year term in office:

What Trump 2.0 would mean for trade, migrants, climate change and electric cars

The Malaysia Competition Commission (MyCC) has prepared a report on cartel activities involving rice and paddy, the Dewan Rakyat was told on Wednesday.

MyCC report on rice, paddy cartel activities completed — deputy minister

Dewan Rakyat Speaker Tan Sri Johari Abdul on Wednesday ordered Datuk Awang Hashim (PN-Pendang) to produce evidence regarding his claim on the alleged discovery of RM94 million in cash at a former minister’s residence or apologise to the House.

Pendang MP told to produce evidence, apologise over RM94 mil found in former minister's house

Shares of Tesla, Donald Trump's media business and domestic-focused small-cap companies surged on Wednesday in anticipation of a win for the former president even though some key states in the US election are yet to post results.

Trump's media business, Tesla surge as former president nears second term

World leaders rushed to congratulate Republican Donald Trump on Wednesday after he claimed victory over Democratic Vice President Kamala Harris in the US presidential election, which would cap a stunning political comeback four years after he left the White House.

Global reaction to the US presidential election

The Department of Islamic Development Malaysia (Jakim) will develop a centralised reporting system to enable the public to report cases of child and women exploitation allegedly involving GISB Holdings Sdn Bhd (GISB).

GISB: Jakim to develop centralised system for reporting exploitation cases

Republican&nbsp;Donald&nbsp;Trump&nbsp;claimed victory in the 2024 presidential contest after Fox News projected that he had defeated Democrat&nbsp;Kamala Harris, which would cap a stunning political comeback four years after he left the White House.

Trump claims 'powerful mandate' as Fox News projects victory

KUALA LUMPUR (Nov 16): The Employees Provident Fund (EPF) has set aside a provision of RM24 million following an accounting adjustment at its Battersea joint venture (JV) firm.

MOF: EPF books RM24m in provision for London’s Battersea project following IFRS treatment

The Federal Court dismissed the appeal by a businesswoman, who was challenging the Court of Appeal decision&nbsp;which had overturned a High Court decision that she was entitled to RM200,000 damages from CTOS Data Systems Sdn Bhd (CDS), a subsidiary of CTOS Digital Bhd (KL:CTOS).

Businesswoman’s challenge against CTOS ends as apex court refuses to grant leave

3REN Bhd’s (KL:3REN) shares&nbsp;rallied&nbsp;in early trade on Bursa Malaysia, emerging as the most actively traded stock on its debut on the ACE Market.

3REN shares surge 25% on ACE Market debut

Stocks extended gains, Treasury yields jumped, while the dollar climbed the most since February 2023, as early returns bolstered trades that have for months risen with Donald Trump’s election prospects.

Stocks, dollar and yields rise on early Trump lead

Bank Negara Malaysia (BNM) has kept the overnight policy rate (OPR) unchanged at 3% as widely expected as it noted the continued expansion of the global economy and the sustained strength of domestic economic activities with inflation remaining "modest".

The benchmark interest rate decision was made&nbsp;by the Monetary Policy Committee (MPC) at its&nbsp;meeting on Wednesday, it said in a statement.

Bank Negara leaves OPR unchanged at 3%

Technology and semiconductor-related stocks on Bursa Malaysia surged on Wednesday afternoon, amid anticipation that Republican candidate Donald Trump could claim victory in the 2024 US presidential election, defeating Democrat Kamala Harris.

Malaysian tech stocks surge amid anticipation of Trump victory in US election

RHB Research anticipates Gamuda Bhd's (KL:GAMUDA) inclusion in the FBM KLCI, while Genting Malaysia Bhd (KL:GENM) and Genting Bhd (KL:GENTING) risk exclusion, ahead of the&nbsp;semi-annual review of the index's component stocks on Dec 5.

RHB expects Gamuda's KLCI inclusion ahead of semi-annual review

Pharmaniaga Bhd (KL:PHARMA) has revised its regularisation plan, which aims to lift it out of Practice Note 17 (PN17) status, by adjusting the capital reduction and excluding warrants from its rights issue.

The proposed plan now includes a RM520 million capital reduction, as well as a rights issue set to raise up to RM353.516 million. Meanwhile, a RM300 million private placement proposed by the company remained unchanged.

Pharmaniaga axes free warrants in RM654 mil fundraising plan, Boustead, LTAT may pump in RM194 mil

The government's decision to introduce mandatory Employees Provident Fund (EPF) contributions for foreign workers is meant to address the country's heavy dependence on foreign labour, while promoting fairness in the domestic labour market, said Finance Minister II Datuk Seri Amir Hamzah Azizan.&nbsp;

Mandatory EPF contribution meant to reduce reliance on foreign workers, says Amir Hamzah

Malaysia remained the fifth most connected country in Asean in the first half of 2024 (1H2024), after Thailand, Singapore, Vietnam and Indonesia, according to the Malaysian Aviation Commission’s (Mavcom) latest Air Connectivity Index (ACI).

Malaysia the fifth most connected country in Asean in 1H

Fraser &amp; Neave Holdings Bhd (KL:F&amp;N) has flagged that its cash flow will be affected by the delayed start of milk production at its integrated dairy farm in Gemas, Negeri Sembilan, due to the sudden suspension of imports of dairy cows from the US due to concerns over an avian flu outbreak. &nbsp;

F&N flags cash flow impact from delayed milk production at Gemas farm due to suspension of heifer imports

SHANGHAI (Nov 5): Prime Minister Datuk Seri Anwar Ibrahim has extended an invitation to Jiangsu Longda Superalloy Co Ltd to expand its business into Malaysia.

Anwar invites China’s Jiangsu Longda to expand biz into Malaysia

KUALA LUMPUR (Nov 6): Plantation companies are projected to post higher quarter-on-quarter (q-o-q) earnings in their upcoming quarterly results, thanks to stronger output and improved performance within the oleochemical segment, said Hong Leong Investment Bank (HLIB).

Planters set for higher quarterly earnings boosted by stronger output, oleochemical gains — HLIB

Increased market volatility is expected in the near term due to the US presidential election, but the Federal Reserve's (Fed) decision&nbsp;following the Federal Open Market Committee meeting this Wednesday and Thursday is likely to have a more significant impact, said MIDF Research.

Market volatility looms with US election, but Fed decision's impact more significant — MIDF

Investors bought dollars, bitcoin and stocks, and sold bonds as Donald Trump claimed victory in the US presidential election and Republicans took control of at least one chamber of Congress.

US stock futures hit record highs, the dollar surged and Treasury yields jumped, while bitcoin broke US$75,000 for the first time — all moves flagged by investors as likely should Trump win over Democrat Kamala Harris.

'Trump trade' surges as he claims victory

KUALA LUMPUR (Nov 6): Malaysia is set to launch a new investment incentive scheme by mid-2025, that aims to introduce stricter regulations for foreign investors to meet localisation requirements.

Liew: Malaysia to introduce stricter localisation requirement for foreign investments

Former attorney general Tan Sri Tommy Thomas has contended that there was no malice in prosecutions&nbsp;during&nbsp;his time as the AG, and that he was merely discharging his constitutional duties when preferring criminal charges, regardless of the accused's political standing.

Tommy Thomas says no political prosecution when he was AG, only constitutional duties being discharged

A growing number of Wall Street strategists are predicting that a decision in the US presidential election will set the stage for stocks to rally into the end of 2024, building on a 21% gain this year for the S&amp;P 500 Index.

Wall Street counting on stocks to rally after election hurdle

Malaysian military contractor Leonard Francis, also known as 'Fat Leonard', one of the main defendants in the US Navy's worst-ever corruption scandal, has been sentenced to 15 years of imprisonment, the US Attorney's Office in Southern District of California said on Wednesday.&nbsp;