CHANGES are afoot at a high level at Petroliam Nasional Bhd (Petronas), and most likely will materialise by early next month, sources familiar with the national oil company tell The Edge.

It is understood that Datuk Adif Zulkifli, executive vice-president and CEO of the company’s upstre...

Changes slated to take place at Petronas 

IF the management of pharmaceutical outfit Pharmaniaga Bhd (KL:PHARMA) are to be believed, the worst is over for the cash-strapped Practice Note 17 (PN17) flagged company.

And the catalyst that is likely to change the fortunes of the company — a proposed renounceable rights issue with w...

Fixing things at Pharmaniaga 

DATUK Seri Awang Adek Hussin, the executive chairman of the Securities Commission Malaysia (SC), is understood to be looking to step down. And it seems likely he will be replaced by the SC’s board member Datuk Mohammad Faiz Azmi, sources familiar with the matter tell The Edge.

It is und...

Mohammad Faiz could take over from Awang Adek as SC chairman 

KUALA LUMPUR (June 9): The government has set the pump price of diesel at all retail stations in the peninsula at RM3.35 per litre, up RM1.20 from Monday (June 10), said Finance Minister II Datuk Seri Amir Hamzah Azizan on Sunday.

Diesel price increases by RM1.20 to RM3.35 per litre in peninsula, from Monday — Finance Minister II

TOP-level executives from Pertama Digital Bhd (KL:PERTAMA) and their counterparts from the Ministry of Finance are in talks to formalise a contract for eJamin — an online system that provides  bail payment service for local courts, sources say.

Pertama Digital’s 51%-owned subsidiar...

Pertama Digital, government formalising contract for eJamin 

THE government is understood to have narrowed the field down to two companies — Dagang NeXchange Bhd or DNeX (KL:DNEX) and Theta Edge Bhd (KL:THETA) — for the National Integrated Immigration System (NIISe) project aimed at integrating the border control system under various agencies of the Minist...

DNeX and Theta Edge in two-horse race for NIISe project

IT is not easy to rattle Malaysia’s top investment banks, namely Malayan Banking Bhd and CIMB Bank Bhd, which have built their businesses on the back of the country’s rapid economic growth over the past decade. But, being small does not mean that a bank doesn’t have its own advantages at a time o...

Former JP Morgan banker tasked to transform Affin Hwang Investment Bank

A dispute is understood to be brewing between two of the heirs of the late gaming billionaire Tan Sri Dr Chen Lip Keong at his Hong Kong-listed flagship NagaCorp Ltd, which operates NagaWorld, a casino in Phnom Penh, Cambodia.

Lip Keong, who died in December last year at the age of 75, ...

Family feud erupts at NagaCorp

It’s been an interesting month. I flew to Old Trafford to watch Manchester United lose to Arsenal in a not very interesting game but came back with a brilliant business plan.

First, Old Trafford was interesting, huge with a capacity of 74,000 people in the stadium.

What happen...

Coffee Break: One day, Bull Run Burgers & Hotdogs will become a reality

STATE-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) is understood to be talking to Hubline Bhd (KL:HUBLINE) to explore the sale of Orkim Sdn Bhd in a deal potentially worth RM900 million, according to sources.

One of the sources says Hubline is already working with appointed b...

Hubline said to be eyeing Ekuinas’ Orkim

It’s a reality that most Malaysians are facing financial challenges due to several factors

Fusion Finance by IBPO to Help Malaysians with Financial Challenges

Warren Buffett's Berkshire Hathaway has again trimmed its stake in BYD, the Chinese company that last year surpassed Tesla as the world's largest electric vehicle maker.

Buffett's Berkshire Hathaway trims stake in China's BYD

China launched an anti-dumping probe into pork imports from the European Union (EU), in a narrowly targeted measure that’s the latest move in simmering trade tensions between Beijing and Brussels.

China starts anti-dumping probe into EU pork imports

UBS Group AG said it would give investors of Credit Suisse funds linked to the collapse of Greensill Capital a significant proportion of their money back, as the Swiss bank looks to clear through the legacy issues of its former rival.

UBS offers to pay investors 90% for funds hit by Greensill

Online comics platform Webtoon Entertainment said on Monday it is targeting a valuation of up to US$2.67 billion (RM12.60 billion) in its initial public offering (IPO) in the US.

Naver's Webtoon Entertainment aims up to US$2.67b valuation in US IPO

Australia and China will take steps to improve military communication to avoid incidents, Prime Minister Anthony Albanese said after meeting Premier Li Qiang on Monday, in the first visit to the country by a Chinese premier in seven years.

Australia's Albanese, China's Li hold talks on trade, rights

Hong Kong’s tycoons are seeing their skyscrapers lose rental values by as much as a third, amid the worst commercial property market slump in more than a decade.

Li Ka-shing’s Hong Kong tower sees rental value drop 33% since 2019

The country’s two largest political coalitions are being strategic by fielding local candidates in the upcoming Sungai Bakap state by-election, which will officially commence on Saturday (June 22).

No clear favourites in Sungai Bakap by-election, say analysts

Businessman Tan Sri Halim Saad has filed an appeal against the High Court's decision last month to strike out his lawsuit against the government, former prime minister Tun Dr Mahathir Mohamad and former minister Tan Sri Nor Mohamed Yakcop over the government's acquisition of a 32.69% stake in Renong Bhd from United Engineers Malaysia Bhd (UEM) in early 2000.

Halim Saad files appeal over High Court decision in UEM-Renong suit

Adidas AG is investigating allegations of corruption in China after receiving an anonymous letter exposing potential compliance violations by some employees.

Adidas opens fraud probe in China after whistle-blower letter

FASTER and bigger returns could be in store for land rich planters that are capitalising on the current data centre boom by using agricultural land for solar farms, say analysts. Their observation comes amid tepid growth in the plantation sector but rising interest in data centres in Malaysia.</p...

Will data centre boom be a new catalyst for plantation sector?  

The long-favoured arbitrage strategy of buying Taiwan Semiconductor Manufacturing Co’s (TSMC) Taipei shares while shorting its US listing is starting to become painful.

Popular arbitrage trade backfires as TSMC frenzy grows in US

CHANGES are afoot at a high level at Petroliam Nasional Bhd (Petronas), and most likely will materialise by early next month, sources familiar with the national oil company tell The Edge.

It is understood that Datuk Adif Zulkifli, executive vice-president and CEO of the company’s upstre...

The government still bears around RM7 billion in subsidies related to diesel in Peninsular Malaysia, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar: Govt still bears RM7b as diesel subsidy not abolished

In August last year, former Thai leader Thaksin Shinawatra returned to his homeland after 15 years in exile, following a deal with royalists who once ousted him in a coup. That marriage of convenience is now at risk of falling apart, potentially unleashing more political turmoil.

Thai royalists make risky bet in fresh showdown with ex-PM Thaksin

Warren Buffett's Berkshire Hathaway has again trimmed its stake in BYD, the Chinese company that last year surpassed Tesla as the world's largest electric vehicle maker.

The country’s two largest political coalitions are being strategic by fielding local candidates in the upcoming Sungai Bakap state&nbsp;by-election, which will officially commence on Saturday (June 22).

Businessman Tan Sri Halim Saad has filed an appeal against the High Court's decision last month to strike out his lawsuit against the government, former prime minister Tun Dr Mahathir Mohamad and former minister Tan Sri Nor Mohamed Yakcop over the government's acquisition of a 32.69% stake in Renong Bhd from United Engineers Malaysia Bhd (UEM) in early 2000.

Australia&nbsp;and China will take steps to improve military communication to avoid incidents, Prime Minister Anthony Albanese said after meeting Premier Li Qiang on Monday, in the first visit to the country by a Chinese premier in seven years.

PUTRAJAYA needs to take the “realistic approach” in tackling issues that are cropping up as a result of population ageing, Prime Minister Datuk Seri Anwar Ibrahim said in his opening speech at the International Social Wellbeing Conference 2024 (ISWC2024) in Kuala Lumpur on June 4, noting that Mal...

The State Of The Nation: Race against time to find funds for universal pension, retirement reforms 

Hong Kong’s tycoons are seeing their skyscrapers lose rental values by as much as a third, amid the worst commercial property market slump in more than a decade.

Adidas AG is investigating allegations of corruption in China after receiving an anonymous letter exposing potential compliance violations by some employees.

KUWAIT Finance House (M) Bhd (KFH Malaysia) CEO Mohd Hazran Abd Hadi is leaving the bank after almost five years at the helm, raising questions about what’s next for one of the country’s smallest Islamic banks.

Hazran is departing to pursue “personal endeavours”, according to an email K...

Kuwait Finance House Malaysia CEO steps down 

SOCIAL activist Kuan Chee Heng, better known as “Uncle Kentang (Malay for potato)” among the people he serves, probably had most people taking mental notes of two things he said at the International Social Well­being Conference 2024 (ISWC 2024) in Kuala Lumpur last week.

First being how...

The State Of The Nation: Heart-wrenching old-age reality bites from lack of planning, social safety nets

The online ambassador initiative, introduced by the Ministry of Housing and Local Government (KPKT),&nbsp;does not involve additional costs, said Minister&nbsp;Nga Kor Ming.

No additional cost incurred for online ambassador initiative, says housing minister

TWO key US indices, the S&amp;P 500 and Nasdaq, hit record closing highs again last week, as investors believe that the recent market data could support a start to the US Federal Reserve’s (Fed) policy easing cycle.

For Stephen Tong, senior &nbsp;institutional &nbsp;portfolio manager at...

This US market bull run still has legs, says Franklin Templeton

Danone, the French yogurt maker in the midst of a turnaround, is stepping up investment in nutritional drinks for cancer patients and the elderly, betting an ageing population will boost long-term growth.

Danone bets ageing populace will drive medical nutrition demand

Boutique developer Ancubic Group has announced a 90% take-up for the first phase of its first industrial development called A-Park Batu Kawan since its official launch on March&nbsp;11. The launch was officiated by Penang Chief Minister Chow Kon Yeow.

Spanning 20.5 acres and located eas...

A-Park Batu Kawan Phase 1 achieves 90% take-up

China launched an anti-dumping probe into pork imports from the European Union (EU), in a narrowly targeted measure that’s the latest move in simmering trade tensions between Beijing and Brussels.

An exchange-traded fund (ETF) investing directly in bitcoin will list on Australia’s main stock market for the first time, part of a wave of such launches after similar products began trading in the US and Hong Kong.

Jose Barrock

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