<div class=newsTextDataWrapInner><p>SINGAPORE (Feb 24): Yongnam Holdings has secured two structural steelwork subcontracts and two supply and fabrication projects&nbsp;worth $69.8 million.</p></div>

<div class=newsTextDataWrapInner><p>In Singapore, the company&nbsp;will carry out structural steelwork&nbsp;on Jewel Changi Airport and the redevelopment of Robinson Tower.</p></div>

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<div class=newsTextDataWrapInner><p>In the Middle East,&nbsp;Yongnam will supply and fabricate&nbsp;non-pressure parts for two power plants in Qatar and Egypt.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Yongnam says the four contracts are expected to contribute positively to the group's financial performance for the financial year ending&nbsp;Dec 31, 2016.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Yongnam ended flat at 34 cents.</p></div>
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SINGAPORE (Feb 24): Yongnam Holdings has secured two structural steelwork subcontracts and two supply and fabrication projects worth $69.8 million.

In Singapore, the company will carry out structural steelwork on Jewel Changi Airport and the redevelopment of Robinson Towe...

Yongnam clinches four contracts worth $69.8 mil

President-elect Donald Trump has selected junior CFTC Commissioner Caroline Pham as acting chair of the swaps and derivatives regulator, according to people familiar with the matter.
 
The five members of the Commodity Futures Trading Commission (CFTC) voted on Monday to confirm Pham as acting chair, said the people, who asked not to be identified since the appointment hadn’t yet been publicly announced.

Trump picks Caroline Pham to serve as acting CFTC chair

President Vladimir Putin said Russia’s ready for talks with the US on the war in Ukraine as he offered congratulations to incoming President Donald Trump on his inauguration.

“We congratulate the US president-elect on taking office,” Putin said on Monday at a televised meeting of his security council ahead of the inauguration in Washington.

Putin says Russia is open to dialogue on Ukraine with Trump

Malaysia and the European Union (EU) have not set any time frame to conclude their negotiations for the Malaysia-EU Free Trade Agreement (MEUFTA).

Prime Minister Datuk Seri Anwar Ibrahim, however, said both parties agreed to accelerate the negotiations.

No time frame set to conclude Malaysia-EU free trade talks — PM

In a significant call to action, Prime Minister Datuk Seri Anwar Ibrahim urged the European Union (EU) to deepen its support for Southeast Asia through increased climate financing, green investments, technical assistance, and capacity-building initiatives. 

Like the EU, Malaysia recognises that the climate crisis is a defining challenge of our time.

Malaysia calls on EU for enhanced support in climate financing, green initiatives

US President Joe Biden granted preemptive pardons to leading government officials that president-elect Donald Trump has threatened to punish, fending off potential retribution by his successor against those he has labelled as political enemies.

Biden pardons Milley, Fauci, Cheney and other Trump targets

Germany met Nato's target to spend 2% of its gross domestic product on defence in 2024, the government said on Monday, though well short of incoming US President Donald Trump's call for as much as 5%.

Under Chancellor Olaf Scholz's centre-left government, Germany has ramped up military spending since Russia's full-scale invasion of Ukraine in 2022, both to supply weapons to Kyiv and revamp its own armed forces.

Germany says it met Nato 2% defence spending target in 2024, short of Trump's demand

Southeast Asian cell tower firm EdgePoint Infrastructure is looking to expand its portfolio to over 20,000 towers in two to three years from around 15,000 currently, its chief executive told Reuters.

CEO and co-founder Suresh Sidhu said on Monday that the company, which is backed by US-listed DigitalBridge, would expand in Indonesia, Malaysia and the Philippines, markets where it already has a presence.

DigitalBridge-backed EdgePoint aiming to add more than 5,000 telco towers

Donald Trump’s tariff threats stand to hurt American economic interests because they would disturb automotive supply chains where the US is strong and drive up consumer prices, said the head of General Motors Co’s Canadian unit.

Trump tariffs would harm major US auto buyer, says GM Canada chief 

Here is a brief recap of some business news and corporate announcements that made the headlines on Monday.

MAHB, 7-Eleven, Fajarbaru, Datasonic, Scanwolf, UUE, SkyWorld, Mieco, Maxland 

It is a “matter of time” before the privatisation of the country's biggest airport operator, Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT), is completed after multiple delays, Khazanah Nasional Bhd managing director Datuk Amirul Feisal Wan Zahir said.

Khazanah MD says MAHB buyout completion a ‘matter of time’

<p>It is a “matter of time” before the privatisation of the country's biggest airport operator, Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT), is completed after multiple delays, Khazanah Nasional Bhd managing director Datuk Amirul Feisal Wan Zahir said.</p>


<p>A vehicle linked to Scanwolf Corp Bhd (KL:SCNWOLF) managing director Eddy Seah Ley Hong has triggered a mandatory takeover offer to acquire all the remaining shares it does not own in the plastic extrusion maker at 54 sen per share.</p>


Scanwolf MD-linked vehicle triggers mandatory takeover offer, intends to maintain listing

<p>The federal government and five others have filed a prohibitory and gag order barring the public from discussing openly&nbsp;the purported addendum seeking to allow former prime minister Datuk Seri Najib Razak to serve the remainder of his six years' jail sentence&nbsp;under house arrest.</p>


Govt files application for a gag and prohibitory order on purported addendum for Najib's house arrest

<p>SkyWorld Development Bhd (KL:SKYWLD) has proposed to diversify into manufacturing prefabricated and prefinished modular systems, which it plans to employ in its affordable housing project in Penang. &nbsp;</p>

<p>The new business, which the group says could potentially contribute a quarter of its net profit, will be undertaken via a collaboration with Singapore-based prefabricated and prefinished modular systems maker Teambuild Holdings (S) Pte Ltd, according to the property developer’s bourse filing on Monday.</p>


SkyWorld eyes diversfiying into prefabricated manufacturing business

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Monday.</p>


<p>The Malaysian Palm Oil Council (MPOC) expects crude palm oil (CPO) prices to trade between RM4,250 and RM4,550 per tonne in the first quarter of 2025 (1Q2025), underpinned by low inventory, stable demand, and constrained supply of other edible oils.&nbsp;</p>


CPO prices seen at RM4,250-RM4,550 a tonne in 1Q on supply-demand tightness, says MPOC

<p>Gateway Development Alliance Sdn Bhd (GDA), the consortium of three entities offering to take Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT) private at RM11 per share, revised one of the conditions for the offer on Monday.</p>

<p>It dropped the acceptance level to 85%, from the 90% stated in the offer document that was issued on Dec 6, 2024.</p>


What GDA's revision in terms means to MAHB’s privatisation

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>The Invest Malaysia 2025 series in London, held on Jan 15, showcased the country’s standing as an attractive hub for global investments, according to CIMB Group Holdings Bhd (KL:CIMB) group chief executive officer Novan Amirudin.</p>


Invest Malaysia London 2025 reinforces global investors’ confidence, says CIMB CEO 

<p>Investors prepared to welcome&nbsp;Donald&nbsp;Trump's&nbsp;second inauguration, anticipating benefits from his pro-business agenda, while remaining wary of his protectionist trade policies, particularly&nbsp;his stance on tariffs.</p>


Markets optimistic as Trump returns to White House

<p>Timber firm Maxland Bhd (KL:MAXLAND) has inked a formal deal to collaborate with data processing services provider GDC Data Sdn Bhd to jointly venture into data centre development in Kulim, Kedah.</p>


Maxland inks deal with GDC Data for data centre development collaboration

<p>Datasonic Group Bhd (KL:DSONIC) has received one-year extensions for its contracts to supply Malaysian passports and polycarbonate biodata pages to the Immigration Department of Malaysia.</p>


Datasonic secures one-year extensions for passport supply and biodata page contracts

<p>Mieco Chipboard Bhd (KL:MIECO) is disposing of two pieces of industrial land in Kuantan, Pahang, for RM40 million to transportation company G-Force Sdn Bhd, in a bid to reduce fixed overhead costs and improve production efficiency. The disposal will result in an estimated net loss of RM2.45 million.</p>


Mieco to sell two pieces of industrial land in Kuantan at RM2.45m loss

<p>Underground utilities engineering solutions provider UUE Holdings Bhd (KL:UUE), via its wholly-owned subsidiary Kum Fatt Engineering Sdn Bhd, has secured two contract renewals worth a total of RM27.5 million from Sutera Utama Sdn Bhd.</p>


UUE secures RM27.5m in contract renewals, boosting total 2025 contract wins to RM64m

<p>Sarawak premier Tan Sri Abang Johari Tun Openg has suggested that Malay associations in the state create a trust fund to manage Malay-owned properties here.</p>


Abang Jo: Set up trust fund to purchase, manage Malay-owned properties within Sarawak

<p>Timber harvester and product maker WTK Holdings Bhd (KL:WTK) said a fire broke out at its unit’s tape manufacturing factory in Perai, Penang, on Jan 17.&nbsp;</p>


Timber outfit WTK reports fire in Penang tape factory, financial impact ‘not expected to be substantial’

<p>The Ministry of Natural Resources and Environmental Sustainability will investigate allegations by a family who claimed they suffered RM500,000 in losses after unknown parties sold their inherited land, said Minister Nik Nazmi Nik Ahmad.</p>


Govt to probe allegations of illegal inherited land sale, says Nik Nazmi

<p>Chin Teck Plantations Bhd (KL:CHINTEK) posted a 56.66% year-on-year rise in first-quarter net profit, lifted by higher prices and share of results of associates and joint ventures (JVs).</p>


Chin Teck Plantations' 1Q profit up 57% on higher prices, share of JV results

<p>Hong Kong property firm New World Development Co said that it hasn’t been in or started any talks on an overall debt restructuring, as distress deepens across more builders in Greater China.</p>


Hong Kong's New World quashes rumours that it’s in holistic debt restructuring talks

<p>President-elect Donald Trump has selected junior CFTC Commissioner Caroline Pham as acting chair of the swaps and derivatives regulator, according to people familiar with the matter.<br />
&nbsp;<br />
The five members of the Commodity Futures Trading Commission (CFTC) voted on Monday to confirm Pham as acting chair, said the people, who asked not to be identified since the appointment hadn’t yet been publicly announced.</p>
