Never before has an application to the Federal Territories Pardons Board appeared as often as the case of former prime minister Datuk Seri Najib Razak.

In the space of less than 30 months, his file has come up before the pardons board three times. The first was in January 2024, when his...

Alternative Views: Crime, clemency and the quest for accountability

DESPITE the terminated deal with Next Lion Ltd on the Philippines venture, Zetrix AI Bhd’s (KL:ZETRIX) ties with the former remain firmly on their interest on the other side of the world — a special purpose acquisition company (SPAC) listed on the Nasdaq in the US.

Incorporated in the B...

Cover Story 1:The role of Next Lion in Zetrix AI’s Nasdaq listing

ON paper, everything appeared to be finally falling into place for Zetrix AI Bhd (KL:ZETRIX). It had even booked a RM3.7 billion expenditure as development cost to build out its blockchain platform for use beyond the cryptocurrency world.

The development cost stood at RM2.8 billion at t...

Cover Story 1: Questions abound about Zetrix AI

THE back-to-back termination and rehash of Zetrix AI Bhd’s (KL:ZETRIX) deal to increase its effective stake in its Philippines business, MyEG Philippines Inc, raises questions about the rationale for the abrupt change.

Components of the deal remain largely the same. The digital services...

Cover Story 1: Puzzling off-then-on Philippines deal

AFTER two years, Malaysia is reopening its doors to workers from Bangladesh.

However, the umbrella body of the foreign labour recruitment agencies in five South Asian countries are resisting the use of Malaysia’s Foreign Workers Centralized Management System (FWCMS) to manage the regist...

Malaysia’s FWCMS draws pushback from foreign recruitment agencies

THE technology prowess of Wong Thean Soon, better known as T S Wong, who has been a household name in the country’s e-government services industry since 2000, came under question last Friday as shares of Zetrix AI Bhd (KL:ZETRIX) plunged in a selldown.

The company, which began as MyEG S...

Zetrix selldown diminishes T S Wong’s aura of invincibility

The vigour with which the government is taking action against high-ranking ex-officials of Lembaga Tabung Haji for the alleged mismanagement of funds is, unfortunately, not evident in another simmering issue — the opaque recruitment process of foreign workers, which has hit a raw nerve among labo...

Alternative Views: Opaque labour recruitment system warrants scrutiny

LAST year, Malaysia’s sole casino operator Genting Bhd (KL:GENTING) celebrated its 60th anniversary.

After its construction following the opening of the road from Genting Sempah to the peak of Gunung Ulu Kali in 1969, the casino on the Pahang side of the hilly terrain did not look back ...

Cover Story 2: Genting's rising debts bogging it down

1. Resorts World Las Vegas, US — Genting Bhd forked out US$4.5 billion (about RM20 billion then) to build a spanking-new casino cum resort on the Las Vegas Strip. It opened for business in 2021 but so far, its returns to Genting’s Ebitda have been paltry — for the financial year ended Dec 31, 202...

Cover Story 2: Genting’s global presence and how it has fared so far

GENTING Malaysia Bhd’s (KL:GENM) big bet on the whopping US$5.5 billion (RM22.2 billion) Resorts World New York City (RWNYC) casino appears to be paying off 16 weeks into its relaunch.

Last December, the hospitality and casino operator was awarded a full gaming licence by the New York G...

Cover Story 2: Will New York change Genting group’s fortunes?

The Federal Land Development Authority (Felda) and its investment arm, Felda Investment Corporation Sdn Bhd (FIC), claim that 21 individual had conspired to defraud them of over RM1 billion in land and exposed them to RM1.7 billion in potential liabilities through the Kuala Lumpur Vertical City (KLVC) project.

Felda suit enters hearing after nearly seven years, says defrauded of RM1b in Jalan Semarak land deal

Malaysia and France are expected to sign a memorandum of understanding (MOU) on energy transition soon to accelerate efforts towards a cleaner and more sustainable future, Deputy Prime Minister Datuk Seri Fadillah Yusof said on Tuesday.

Malaysia, France to sign energy transition MOU soon, says Fadillah

Indonesian authorities have collected US$190 million (RM776.3 million) in fines from companies working illegally in forestry areas, and seized more than 6.2 million hectares of land, the attorney general announced Tuesday.

Indonesia collects US$190m fines over forestry violations

Uber said on Tuesday it would buy US catering platform ezCater in an all-cash deal for US$2.3 billion (RM9.4 billion), expanding its food-delivery and workplace meals business.

Uber to buy US catering platform ezCater for US$2.3b

Elridge Energy Holdings Bhd (KL:ELRIDGE) is investing RM45 million to venture into the manufacturing and the sale of activated carbon business for use across water treatment, industrial purification and related filtration.

Elridge Energy invests RM45m to venture into activated carbon business

Willowglen MSC Bhd (KL:WILLOW) has secured a RM17.8 million contract from Malaysia Rapid Transit Corporation Sdn Bhd (MRT Corp) to upgrade the public address/passenger information display system (PAPIDS) for the MRT Kajang Line.

Willowglen bags RM17.8m MRT Kajang Line display system upgrade job

The Dewan Rakyat on Tuesday approved amendments to legislation that would empower the youth and sports minister to revoke the registration of sports bodies deemed harmful to national security, public order or morality.

Dewan Rakyat approves bill giving sports minister power to revoke registration of sports bodies

Asteel Group Bhd (KL:ASTEEL) has appointed former Inspector-General of Police Tan Sri Razarudin Husain @ Abd Rasid as independent non-executive chairman and new controlling shareholder Datuk Clifford Hii Toh Leong as executive deputy chairman.

Asteel names ex-IGP Razarudin chairman, Clifford Hii executive deputy chairman in board revamp

US bond yields fell from their highest levels since 2002 as oil prices retreated below US$100 a barrel and Treasury Secretary Scott Bessent insisted the government’s debt load can be tamed.

US yields fall from 2002 high as oil dips, Bessent vows on debt

The Pahang government is open to discussions with Berjaya Hills Resort Bhd to resolve the impasse over enforcement action taken against land operated by the company in Bukit Tinggi, near Bentong.

Pahang govt open to discuss Berjaya Hills impasse, says MB

THE ongoing issues at digital services and technology infrastructure provider Zetrix AI Bhd (KL:ZETRIX) could be a long-drawn affair, with managing director Wong Thean Soon, better known as TS Wong, likely to seek legal recourse after recent developments at the company ravaged its share price.</p...

TS Wong could seek legal recourse over issues at Zetrix

Zetrix AI Bhd (KL:ZETRIX) faces uncertainty over its revenue collection business after the Ministry of Transport (MOT) suspended its services as a collection agent for the Road Transport Department (JPJ) over unremitted government funds totalling RM314 million.

Zetrix AI's business continuity uncertain after JPJ suspension — MBSB Research

Top Glove Corporation Bhd (KL:TOPGLOV) said it is confident of weathering headwinds ahead after earnings jumped nearly five times in the recently ended quarter, sending its shares higher.

Ray Dalio warns China, Japan may pull back from US Treasuries

KUALA LUMPUR (Oct 6): Malaysian banks are working towards introducing fraud alert capabilities that can flag potential risks before a transaction is completed.

BNM: Banks working towards fraud alert before transaction is completed

KUALA LUMPUR (Oct 6): SLGC Bhd (KL:SLG) ended its first trading day on the ACE Market below its initial public offering (IPO) price.

Construction firm SLGC ends first trading day below IPO price

Scientex Bhd (KL:SCIENTX) is acquiring 503 acres in Pulai, Johor, for RM580 million to boost the property developer’s land bank.

Scientex to acquire 503 acres in Johor for RM580 mil

<h2>Notable filings</h2>

During the week of Sept 14 to 18, notable shareholding changes among Bursa Malaysia-listed companies included those at D&amp;O Green Technologies Bhd (KL:D&amp;O), where pension fund Kumpulan Wang Persaraan (Diperbadankan) (KWAP) ceased to be a substan...

Insider Moves: D&O Green Technologies Bhd, EI Power Bhd, MQ Technology Bhd, Sealink International Bhd, Zetrix AI Bhd

CIMB Group Holdings Bhd (KL:CIMB) is exploring a sale of its business in the Philippines as part of efforts to streamline and focus on bigger markets for growth, according to people with knowledge of the matter.

CIMB considers selling Philippine business — Bloomberg

The World Bank has flagged the risk of a slowdown from a correction in global artificial intelligence (AI)-related activity, even as it raised Malaysia's 2026 growth outlook to 5.1% from 4.4% previously, driven by surging AI-related spending.&nbsp;

World Bank flags AI correction risk as it lifts Malaysia's 2026 growth outlook to 5.1%

United Overseas Bank (Malaysia) Bhd (UOB Malaysia) chief executive officer Datuk Ng Wei Wei&nbsp;climbed 10 rungs to 85th place in this year's Fortune’s Most Powerful Women Asia ranking. &nbsp;&nbsp;

UOB Malaysia CEO Ng Wei Wei climbs 10 rungs in Fortune’s Most Powerful Women Asia ranking

KUALA LUMPUR (Oct 6): Investors in an agarwood scheme promoted by Asian Plantation Capital (APC) not only failed to receive any returns on their investment but also didn't see purchase money returned to them, the court heard on Tuesday.

Another dispute over agarwood scheme begins trial, investors say no ROI, purchase sum not returned

The World Bank has agreed that certain elements of the goods and services tax (GST) should be implemented into Malaysia’s sales and service&nbsp;tax (SST) to address its distortionary features.

World Bank supports Malaysia’s possible integration of GST elements into SST 

U Mobile Sdn Bhd has achieved 90% coverage of populated areas (CoPA) nationwide, nine months ahead of schedule, said Communications Minister Datuk Seri Fahmi Fadzil.

Fahmi: U Mobile 5G coverage hits 90%, nine months ahead of schedule

KUALA LUMPUR (Oct 6): Rapidus Corporation has roped in Malaysian firms — GreatAsic Technology Sdn Bhd, Infinecs Systems Sdn Bhd, Oppstar Bhd's (KL:OPPSTAR) Oppstar Technology Sdn Bhd&nbsp;and SkyeChip Bhd (KL:SKYECHIP) — as design solution associates to support the development of its global chip ecosystem framework.

Rapidus taps four Malaysian firms as design solution associates for CORE ecosystem

CHINA’s National Food Safety Standard, which includes the Code for the Control of 3-MCPD Esters and Glycidyl Esters in Foods, came into effect on Sept 2, a year after it was issued. According to the Malaysian Palm Oil Council (MPOC), the standard is not expected to have an immediate impact on Mal...

China’s food safety code throws a curveball at palm oil industry

Outstanding repayments for loans issued by the National Higher Education Fund Corporation (PTPTN), the country's main tertiary education loan provider, stood at RM10.7 billion as at Aug 31.

PTPTN loan arrears hit RM10.7b as at Aug 31 — minister

KUALA LUMPUR (Oct 6): Five of the nine technology drivers identified under the National Technology Sovereignty Framework (NTSF) have been deemed critical to national sovereignty and possess strong commercial potential.

Mosti: Five technology drivers identified as critical to Malaysia's sovereignty

BENGALURU (Oct 5): Data centre operator DayOne Data Centers filed for an initial public offering (IPO) in the United States on Monday, testing investor appetite for data-centre listings amid challenging market conditions.

Data centre operator DayOne reveals revenue surge in US IPO filing

The monsoon transition phase is expected to begin on Friday, Oct 9, and continue until late October, marking the end of the Southwest Monsoon, which began on May 14.

M Shanmugam

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