Notable filings

During the week of Jan 20 to 23, among the notable shareholding changes that took place in companies listed on Bursa Malaysia were those at integrated technology solutions provider Radiant Globaltech Bhd (KL:RGTECH), where businessman Un Sze Hau emerge...

Insider Moves: Radiant Globaltech Bhd, Wasco Bhd, Ecofirst Consolidated Bhd, Datasonic Group Bhd, Syarikat Takaful Malaysia Keluarga Bhd, Perak Transit Bhd  

In Corporate Malaysia, it is rare that CEOs resign when their plans to improve an entity are thwarted by a lack of political will. 

It’s even rarer that the CEO makes the departure public and  provides the real reason for leaving. After a change of the guard, what now for LTAT...

2024 Newsmakers:  LTAT sees changes at the helm 

WHILE questions remain about the prospects of Boustead Plantations Bhd (BPlant), one thing for sure is that the minority shareholders had a good exit via the privatisation exercise at an offer price of RM1.55 per share.

The offer price was 19.2% above BPlant’s net tangible asset (NTA) p...

Deals Of 2024: Best Privatisation - Boustead Plantations’ privatisation a boon for minorities

ON Dec 9, at around noon, news broke that a Public Accounts Committee (PAC) report had indicated that the Malaysian Anti-Corruption Commission (MACC) had cleared the management of Human Resource Development Corporation (HRD Corp), including its CEO Datuk Shahul Hameed Dawood, of any wrongdoing.

Turkeys Of The Year: Whither the probes on HRD Corp?

DATUK Muhamad Umar Swift, CEO and executive director of Bursa Malaysia Bhd (KL:BURSA), is understood to be looking to leave the stock exchange operator and his position could be taken up by Datuk Fad’l Mohamed, who is currently managing director of group wholesale banking at RHB Bank Bhd (KL:RHBB...

Umar Swift could leave Bursa Malaysia, may be replaced by RHB’s Fad’l  

AUTOMOTIVE and industrial equipment player Sime Darby Bhd (KL:SIME) is understood to be in talks to acquire a chunk of the retail and after-sales business of Ingress Corp Bhd, sources familiar with the matter tell The Edge.

They say the talks are at an advanced stage and involve Sime Da...

Sime Darby to buy Ingress’ BMW and Mini operations, say sources

Notable filings

Over the week of Dec 2 to 6, among the notable changes in shareholding for companies listed on Bursa Malaysia were those at auto parts manufacturer and distributor EP Manufacturing Bhd (KL:EPMB).

Bermaz Capital Sdn Bhd (formerly Bermaz Anshin...

Insider Moves: EP Manufacturing Bhd, Eastern & Oriental Bhd, Aurelius Technologies Bhd, Central Global Bhd, Yinson Holdings Bhd, RHB Bank Bhd 

LAST week, Public Accounts Committee (PAC) chairperson Datuk Mas Ermieyati Samsudin said during a press conference in parliament that it would be investigating sovereign wealth fund Khazanah Nasional Bhd’s controversial deals as part of its schedule for next year, including the proposal to take M...

GDA defends ‘low offer’ for MAHB 

TWO hotels under Berjaya Corp Bhd (BCorp) (KL:BJCORP) — Berjaya Beau Vallon Bay Resort & Casino and Berjaya Praslin Resort in Seychelles — have been put up for sale, sources familiar with the matter tell The Edge. 

While details are scarce, the price tag being bandied about for...

Berjaya Corp looking to sell Seychelles hotels for US$83 mil, say sources

THE general perception is that PLUS Malaysia Bhd is sitting on a lucrative toll concession. But Datuk Amran Hafiz Affifudin, managing director of UEM Group Bhd, tells The Edge that such a perception is different from reality.

“Sometimes people on the outside think that it [PLUS highway ...

Cover Story: PLUS’ concession not as lucrative as perceived, says UEM Group MD

US government bonds sold off and equities whipsawed after hot inflation data spurred bets the Federal Reserve won’t have much room to cut rates this year. Oil sank on news of US-Russia talks over Ukraine.

Asian stocks barely higher after hot US CPI print

US President Donald Trump said he spoke with Russian President Vladimir Putin on Wednesday about starting negotiations immediately to end the war in Ukraine.

Trump says he discussed ending Ukraine war with Russia's Putin

Negeri Sembilan police recorded losses amounting to over RM50 million from various commercial crimes last year, with 2,648 investigation papers opened, compared to RM44.1 million in the previous year.

Commercial crime losses in Negeri Sembilan amount to more than RM50 mil last year

Wall Street's main indices fell on Wednesday, as a hotter-than-anticipated inflation reading added to worries that the Federal Reserve would not cut interest rates anytime soon, while some upbeat earnings like that of CVS Health helped crimp losses.

Wall St falls as hot inflation data hints at slower rate cuts

Asean has the potential to become a "middle power", which is a power that can play an important role in dealing with tensions between great powers, not with the aim of war, but as a mediator and balancer.

Asean has potential to serve as mediator to defuse geopolitical tension — Zambry

Here is a brief recap of some corporate announcements that made news on Wednesday.

MAHB, Carlsberg Malaysia, Heineken Malaysia, Pavilion REIT, Binastra, MPI, Revenue Group and IJM

The government's willingness to amend the Peaceful Assembly Act 2012 to allow citizens to gather peacefully without prior approval from relevant authorities is among the topics to be discussed in Thursday's Dewan Rakyat sitting.

Govt's readiness to amend Peaceful Assembly Act among focus of Parliament on Thursday

Privasia Technology Bhd (KL:PRIVA) has bagged a RM9.17 million contract from the Ministry of Human Resources (MOHR) to supply, deliver, install, configure, test use and commission of information and communications technology (ICT) equipment for the ministry’s workshop modernisation programme.

Privasia bags RM9 mil contract from Human Resources ministry

Indonesia and Malaysia’s muafakat must extend beyond economic collaboration to include enhanced cybersecurity, counterterrorism efforts, and maritime security in the Indo-Pacific region, said senior political secretary to the Prime Minister, Datuk Seri Shamsul Iskandar Mohd Akin.

Muafakat between Indonesia, Malaysia must extend beyond economic collaboration

The downstream agricommodity sector recorded a gross domestic product (GDP) of RM30.1 billion in the first three quarters of last year, an increase of 6.7% compared with the same period in 2023.

Downstream agricommodity sector records GDP OF RM30.1 bil up to 3Q

Proton Holdings Bhd said its vehicle sales dropped 23% year-on-year (y-o-y) in January, largely due to bumper sales in December last year, coupled with a slowdown in new car purchases during the Chinese New Year festive period.

Proton records 23% drop in January sales, sees temporary flux for auto market

A diverging outlook is expected for the Malaysian steel sector, following US President Donald Trump’s decision to impose a 25% tariff on all steel products imported into the country.

Experts see steel dumping driving diverging outlook for Malaysia’s steel sector 

Malaysian Pacific Industries Bhd (KL:MPI) is disposing of two parcels of land in Bayan Lepas, Penang for a total cash consideration of RM140 million.

MPI to see net gain of RM99.2m from Penang land sale

Here is a brief recap of some corporate announcements that made news on Wednesday.

Gateway Development Alliance Sdn Bhd (GDA) on Wednesday announced that it has secured 98.68% of Malaysia Airports Holdings Bhd’s (MAHB) (KL:AIRPORT) shares at the close of the consortium’s takeover offer for the airport operator.

Khazanah-EPF led consortium GDA closes MAHB takeover offer with 98.68% stake

Dagang NeXchange Bhd (KL:DNEX) said an arbitrator has ruled against its units, DNeX Semiconductor Sdn Bhd and SilTerra Malaysia Sdn Bhd, in a dispute related to a shareholders’ agreement between the two firms and Tethystronics Technologies Company Ltd (TTCL).

DNeX says arbitrator ruled against its units in dispute related to shareholders' agreement

Quantum computers that are “practically useful” are five to 10 years away, Google chief executive officer Sundar Pichai said, comparing the groundbreaking technology to where artificial intelligence was about a decade ago.

Google CEO sees ‘useful’ quantum computers five to 10 years away

CelcomDigi Bhd (KL:CDB) has appointed Axiata Group Bhd’s (KL:AXIATA) group chief financial officer (CFO) Nik Rizal Kamil Nik Ibrahim Kamil as its non-independent and non-executive director, effective immediately.

Axiata Group finance chief Nik Rizal Kamil named CelcomDigi’s non-executive director

Capital A Bhd (KL:CAPITALA) said its aviation arm AirAsia Aviation Group carried 16.27 million passengers in the fourth quarter of last year (4Q2024), up 9% compared with 14.88 million passengers a year earlier, amid increased seat capacity and robust demand for air travel.

AirAsia’s passenger numbers rise 9% in 4Q as seat capacity increases

The Malaysian Investment Development Authority (Mida) and BEYOND4 Sdn Bhd have inked a Memorandum of Understanding (MOU) to support high-growth small and medium enterprises (SMEs).

Mida, BEYOND4 forge partnership to support high-growth SMEs

Carlsberg Brewery Malaysia Bhd (KL:CARLSBG) said the group faces a tougher competitive landscape in Singapore as on-trade sales soften, following the goods and services tax (GST) hike and a challenging transition from Asahi to Sapporo.

Carlsberg says Singapore sales hit by GST hike, Asahi-Sapporo shift

US inflation picked up broadly at the start of the year, further diminishing chances the Federal Reserve will cut interest rates anytime soon.

The consumer price index (CPI) rose 0.5% last month, the most since August 2023 and led by a range of household expenses like groceries and gas. Shelter accounted for nearly 30% of the advance, according to the report from the Bureau of Labor Statistics out on Wednesday.

US inflation tops forecasts, dimming chances for Fed rate cuts

Wall Street's main indices fell on Wednesday, as a hotter-than-anticipated inflation reading added to worries that the Federal Reserve would not cut interest rates anytime soon, while some upbeat earnings like that of CVS Health helped crimp losses.

Payment solutions provider Revenue Group Bhd (KL:REVENUE) plans to raise up to RM193.63 million via a right issue with warrants, mainly to fund its venture into the money lending business.

Revenue Group plans rights issue to finance diversification into money lending

The financial impact on the federal and Sarawak state revenues from the ongoing dispute over gas rights in the Borneo state has yet to be determined as negotiations are still underway, says Minister in the Prime Minister’s Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said.

Commercial terms for Sarawak gas distribution must consider Petronas' investment, says Azalina

Meta Platforms Inc made a small change last month that’s likely to increase the company’s profit by billions of dollars this year.

It wasn’t the release of a new product or cost cuts. It was a tweak to an accounting formula used to measure the depreciation of its expensive artificial intelligence (AI) infrastructure.&nbsp;

Meta’s accounting move on AI servers to boost profit this year

Electronic reload and bill payment services provider RichTech Digital Bhd (KL:RTECH), which is slated to float its shares on Bursa Malaysia on Feb 17, posted a net profit of RM939,000 on a revenue of RM1.77 million for the fourth quarter.

ACE Market-bound RichTech posts RM939,000 quarterly net profit

Digital Minister Gobind Singh Deo said Digital Nasional Bhd (DNB) has undertaken a restructuring process following the government's decision to abandon the single wholesale network (SWN) model and transition to a dual 5G network.

DNB undergoes restructuring as govt shifts to dual 5G network, says Gobind

The federal government will continue to subsidise rural air services (RAS) in Sarawak and Sabah following the Sarawak government taking over the ownership of the service operator, MASwings Sdn Bhd, said Transport Minister Anthony Loke.

Loke: Putrajaya to continue subsidising Sabah, Sarawak rural air services

South Africa has vowed not to withdraw its genocide case against Israel at the International Court of Justice (ICJ), despite the Trump administration's threats and aid cut.

There is “no chance” South Africa could withdraw its case it filed in December 2023, Foreign Minister Ronald Lamola told the Financial Times, according to Anadolu Ajansi (AA).

Jose Barrock

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