This article first appeared in The Edge Financial Daily, on November 4, 2016.

 

KUALA LUMPUR: The Employees Provident Fund (EPF) has introduced Akaun Emas, which will serve as a second retirement nest egg for its members who continue to work after the ag...

EPF introduces Akaun Emas for withdrawal at age 60

This article first appeared in The Edge Financial Daily, on June 1, 2016.

 

KUALA LUMPUR: UMW Oil & Gas Corp Bhd (UMWOG) unit UMW Offshore Drilling Sdn Bhd has received a conditional letter of award from Petronas Carigali Sdn Bhd for the provision of a jack-u...

UMWOG bags drilling rig provision contract from Petronas

KUALA LUMPUR (Oct 6): Prominent economist Dr Jomo Kwame Sundaram today said he is disappointed with the controversial Trans-Pacific Partnership (TPP) trade deal between Malaysia and 11 other Pacific Rim countries which was reached yesterday (Oct 5), deeming it an "investment deal".

"Tha...

TPPA is an investment deal, says economist

KUALA LUMPUR: Malaysian stocks continued to head south yesterday, with investors shrugging off positive official economic data last week as sentiment remains poor amid falling oil prices and ongoing domestic political issues.

The prevalent uncertainty surrounding the economic outlook pr...

Stocks to see further downside

KUALA LUMPUR (June 29): The FBM KLCI dropped 1.1%, tracking world markets in anticipation that Greece may default on its debt. A default could lead to Greece's exit from the eurozone.

Reuters reported that investors were spooked by the spectre of a Greek debt default which forc...

KLCI drops 18.55pts as Greece woes dampen sentiment

Ryanair Holdings plc pressed European authorities to limit the sale of alcohol at airports, renewing its call for a crackdown after a spate of costly passenger disruptions.

The Irish low-cost carrier said it backs a two-drink maximum at airports, citing an April 2024 incident that ended up costing Ryanair more than €15,000 (RM69,039).

Ryanair demands airport booze limits to deter unruly flyers

Hillcove Sdn Bhd, which was the largest shareholder of Sersol Bhd (KL:SERSOL), has disposed of its entire 13.67% stake in the chemical manufacturer.

Hillcove sold the stake, comprising 100 million shares, in an off-market deal on Jan 9, according to Sersol’s bourse filing on Monday. The filing did not indicate the transaction value.

Sersol's largest shareholder Hillcove sells entire stake to ED Mohamed Suffian

Southern Japan was hit by a strong earthquake on Monday that authorities said did not warrant the kind of megaquake warning that was triggered for the first time last year.

A quake with a preliminary magnitude of 6.9 struck the Kyushu region at 9.19pm (0019 GMT) on Monday, the Japan Meteorological Agency (JMA) said.

Southern Japan hit by strong quake near Nankai Trough region

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

Gamuda, Yinson, YTL Power, Eden, Infomina, Kimlun, Solarvest, Sapura Energy, Apex Equity

(Jan 13): The property services arm of Chinese builder Country Garden is expecting a drop of up to 1.10 billion yuan (US$150.03 million) in annual earnings as its sanitation business plans to record an impairment charge for goodwill and tangible assets.

The unit, Country Garden Services...

Country Garden's property services arm expects annual earnings to fall

South Malaysia Industries Bhd (KL:SMI) is challenging the Securities Commission Malaysia's (SC) decision to allow the appointment of six new directors nominated by a company that is seeking to take over SMI before the offer document has been dispatched, alleging that the regulator's decision had breached takeover rules designed to protect minority shareholders.

SMI takes SC to court over board appointments amid takeover bid

Police have the authority to check a person’s mobile phone if there is suspicion or information suggesting he or she has committed a crime.

Inspector-General of Police Tan Sri Razarudin Husain said that this is stipulated under Section 23 (1) of the Criminal Procedure Code, to ensure the absence of obscene or offensive content and threatening communication.

IGP: Police can conduct mobile phone checks based on reasonable suspicion

The US Supreme Court buttressed efforts by environmental advocates to hold oil companies accountable for climate change, letting Honolulu press a lawsuit that accuses the industry of deceiving customers about the risks posed by fossil fuels.

The high court, without comment on Monday, refused to consider company arguments that federal law bars the suit, one of more than two dozen similar cases around the country.

Oil industry spurned by Supreme Court on Hawaii climate suit

Crude palm oil (CPO) futures contract on Bursa Malaysia Derivatives closed higher on Monday, extending its gains from last Friday.

Fastmarkets Palm Oil Analytics senior analyst Sathia Varqa said the gains were supported by sharply higher related vegetable oils futures on the Dalian Commodity Exchange, reinforced by the idea of tight supplies resulting from poor weather conditions, and the recent Malaysian Palm Oil Board (MPOB) data for December.

CPO futures extend gains driven by stronger vegetable oil market in China

Prime Minister Datuk Seri Anwar Ibrahim said that his meetings with major companies from the United Arab Emirates (UAE) during his three-day working visit to the country will strengthen bilateral relations and boost the trade and investment cooperation that has been established.

Meetings with UAE companies to strengthen bilateral ties, boost trade and investment — Anwar

Gamuda Bhd (KL:GAMUDA) said its consortium has been appointed as the main contractor to deliver the first civil works package worth over RM8 billion for the Penang Light Rail Transit (LRT) project.

Gamuda gets first package worth over RM8 bil of Penang LRT project

YTL Power International Bhd (KL:YTLPOWR), which is in the midst of setting up its own artificial intelligence (AI) data centres using the latest chips by US chip giant Nvidia Corp, does not expect to be impacted by the proposed US rules on advanced chip&nbsp;exports into countries like Malaysia.

YTL Power ‘confident’ not affected by potential US chip export curbs amid Nvidia partnership

The Joe Biden administration's plans to introduce new export restrictions on artificial intelligence (AI) chips under a three-tiered system by country have sparked concerns in Malaysia.

How will restricted AI chip access impact Malaysia?

Bursa Malaysia Bhd (KL:BURSA) has introduced a new renewable energy (RE) subsector within its energy and utilities sector classification. This move aims to provide more focused classification for public listed companies (PLCs) operating in the RE space.

The new RE classification includes PLCs involved in providing equipment and services for RE production, as well as those producing or distributing electricity through RE sources.&nbsp;

Bursa reclassifies 13 companies as it introduces new renewable energy subsector

Energy infrastructure firm Yinson Holdings Bhd (KL:YINSON)&nbsp;is close to signing up investors for a funding round in its unit that makes equipment used by the offshore oil and gas industry, according to people with knowledge of the matter.

Yinson close to deal with investors including Abu Dhabi for US$1b funding — Bloomberg

Former 1Malaysia Development Bhd (1MDB) president Arul Kanda Kandasamy told the High Court on Monday that there was no merit to the allegations made by his former company, that he had failed to inquire, investigate or ascertain, and recover the investments the company had lost.

Testifying in his defence to 1MDB’s US$6.59 billion suit against him and former Treasury secretary-general and former 1MDB board of advisors chairman Tan Sri Mohd Irwan Serigar Abdullah, before judge Datuk Raja Ahmad Mohzanuddin Raja Mohzan, Arul Kanda also disagreed that he had acted against 1MDB’s interests.

Arul Kanda: 1MDB loss inquiry was not my job

The Malaysian ringgit could face downward pressure due to the possibility of new US tariffs on China and uncertainties over the direction of the US Federal Reserve's (Fed) terminal rate, economists cautioned.

US interest rate cut uncertainty, China tariffs pose risks to ringgit — economists

The Islamic digital bank consortium led by KAF Investment Bank Bhd (KAF IB) has received approval from Bank Negara Malaysia (BNM) and the Ministry of Finance (MOF) to commence operations, effective from Dec 20, 2024.

KAF Digital Bank gets regulatory green light to commence operations

Eden Inc Bhd (KL:EDEN) said on Monday that it has been selected to develop a 29.99-megawatt (MW) large-scale solar photovoltaic plant in Gebeng, Kuantan.

Eden picked to develop 29.99MW solar plant in Kuantan

The Semiconductor Industry Association (SIA) and Nvidia Corp, two prominent voices in the global chip industry, have criticised the US government’s new export curbs on artificial intelligence (AI) chips.

Semiconductor Industry Association and Nvidia slam Biden administration’ new export controls on AI chips

Gifts and tokens of appreciation to those in power are above board, so long as it doesn't sway the decision-making process, the court heard on Monday.

Former prime minister Datuk Seri Najib Razak said this while testifying in his defence in the ongoing 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial regarding the US$681 million (RM2.081 billion) purported donation&nbsp;from Saudi Arabia into his personal accounts.

1MDB-Tanore: Receiving gift OK, as long as it doesn't impact integrity, says Najib

Paramount Property unveiled Na Reva, its luxury Bangkok condominium project, at an exclusive Malaysian premiere at its sales gallery in Jalan Ampang, Kuala Lumpur last Saturday (Jan 11). Na Reva was first launched in Bangkok last year and was introduced to the Malaysian market last Saturday. At time of print, 30% of the units have been sold.

Paramount Property unveils Na Reva, a Bangkok riverfront condo project, in Malaysia

（吉隆坡13日讯）金务大（Gamuda Bhd）（KL:GAMUDA）指出，其财团获委为槟城轻快铁（LRT）项目首个土木工程配套的主要承包商，价值超过80亿令吉。

金务大获槟轻快铁首份工程 价值逾80亿

Traders in the options market are preparing for the pound to tumble as much as 8% more as fiscal woes that prompted a painful selloff across UK markets last week weigh on the currency.

Pound traders are ready for another 8% slump after selloff

Thailand’s Cabinet approved in principle a bill seeking to legalise casinos, with the government pitching the initiative as a major step to boost tourism and tackle rampant illegal gambling in the Southeast Asian nation.

Thai Cabinet approves draft casino bill in boost for tourism

Malaysia is benefiting from shifts in supply chains, with the emergence of data centres, tech companies and semiconductor manufacturers in the country, said HSBC Global&nbsp;Research.

Supply chain resettlement positive for Malaysia — HSBC Global Research

A summary of how key Bursa Malaysia indices and the ringgit performed on Monday.

FBM KLCI falls 1.05% to 1,585.59 on Jan 13, 2025

Sapura Energy Bhd (KL:SAPNRG), which has been in Practice Note 17 (PN17) status since end-May 2022, is a step closer to revive its financial health.&nbsp;

The oil &amp; gas (O&amp;G) giant said it has secured approval-in-principle from at least 75% of its financiers for the proposed restructuring of its multi-currency financing facilities. &nbsp;

Sapura Energy secures second approval-in-principle for debt restructuring exercise

The world is bracing for a fight for natural gas supplies this year, prolonging the pain of higher bills for consumers and factories in energy-hungry Europe and putting poorer emerging countries from Asia to South America&nbsp;at risk of getting priced out of the market.&nbsp;

Europe threatens to trigger a global scramble for natural gas

The Domestic Trade and Cost of Living Ministry has opened an investigation paper into a sandwich bread factory in Sunway Damansara, Petaling Jaya, Selangor for suspected misuse of the halal logo.

Its enforcement director general&nbsp;Datuk Azman Adam said in a statement on Monday that the factory is being investigated for suspected violations of Paragraph 4(1) of the Trade Description Act 2011 [Act 730], which is an offence under Paragraph 8(a) of the Trade Description Order (Halal Certification and Marking) 2011.

Ahmad Naqib Idris & Gho Chee Yuan

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Ahmad Naqib Idris & Gho Chee Yuan

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