Mr Chan is part of a company’s senior management. In the course of his role, he came upon information and a lucrative commercial opportunity that the company could exploit. He neither disclosed this nor obtained the company’s consent. Instead, armed with that information, he resigned, set up his own company and exploited that opportunity.

Opinion: The director as a fiduciary: The ‘no-profit’, ‘no-conflict’ and ‘misuse of trust and knowledge’ rules

Nominee directors are common in Malaysia. Section 217 of the Companies Act 2016 (CA 2016) expressly lays down that a nominee director is one who is appointed to the company by virtue of being an employee of the nominator, or as a representative of a member, employer or debenture holder, and he ha...

My Say: Duties and potential liabilities of nominee directors and their appointors

Directors’ duties with respect to financial statements

In 2011, in the case of Australian Securities and Investments Commission v Healy & Ors, the Federal Court of Australia delivered an important ruling and laid down important principles of law on the standard of care for th...

My Say: Court rulings on chairperson’s and directors’ duties raise cautions for holders of these posts

A recent Singapore High Court decision (Inter-Pacific Petroleum Pte Ltd [IPP] and Goh Jin Hian [Suit No 953 of 2020]) highlighted that a non-executive director (NED) can be exposed to serious breaches of director’s duties and liabilities. IPP suffered losses to the tune of US$146 million and its ...

My Say: Non-executive director’s duties: Lesson from a recent Singapore case

As a nation, we celebrate 66 years of Independence this month, and in September, joined by Sarawak and Sabah, we will mark 60 years of the formation of Malaysia.

The Constitution has often been defaced but it has nevertheless engendered a polity that has promoted the flourishing of Mala...

My Say: Thoughts on the Constitution’s future 66 years after Independence

Of late, there has been growing interest in the work of the Federal Court and its role in construing and interpreting the workings and interrelationship between each branch of government.

The Federal Constitution vests the Federal Court with judicial power and authority to interpret the...

Counsel: Misplaced sound and fury over the constitution and judicial interpretation

The Federal Court’s dismissal of the application by counsel Hisyam Teh for an adjournment of the hearing of appeal by Datuk Sri Mohd Najib Razak in the SRC International Sdn Bhd case contains many valuable lessons on legal etiquette for lawyers and also the administration of justice.

A...

My Say: On administration of justice: admission of evidence, adjournments and appointment of new lawyers 

The tech-heavy Nasdaq slid more than 2% on Thursday as growth stocks weakened after earnings from mega-caps Tesla and Meta did little to address artificial intelligence (AI)-related concerns, with a recovery in oil prices further adding to market unease.

Wall Street sinks as Nasdaq falls over 2% on AI cost worries

Mortgage rates fell for the first time in nine weeks, providing little comfort to sellers facing the slowest US housing market in at least 25 years.

US mortgage rates decline for first time in nine weeks, to 7.32%

The Ministry of Finance (MOF) said Bank Simpanan Nasional, a statutory body under its purview, has paid RM13.52 million in claims to victims of a fake investment scheme run by a former employee at its Kuching branch.

BSN has refunded 92.9% of claims in Kuching investment scam — MOF

US Treasuries surged — sending the US 10-year yield back below 5% — as investors sought shelter from tumbling share prices for companies leading the boom in spending on artificial intelligence (AI).

US 10-year yield falls below 5% as investors flock to safe havens

Malaysia must strengthen gas supply security, invest in infrastructure and prepare for future demand to maintain a reliable and competitive energy system amid geopolitical uncertainty.

MyGAS 2026: Securing Malaysia’s gas future amid global uncertainty 

The Ministry of Finance (MOF) will allocate RM1 billion to Urusharta Jamaah Sdn Bhd (UJSB) in 2027 for early sukuk redemption, with the funds also aimed at strengthening Lembaga Tabung Haji’s (TH) cash flow.

MOF to inject RM1 bil into Urusharta Jamaah for sukuk redemption in 2027

The US Treasury Department on Thursday proposed new regulations to bar large institutional investors from buying up single-family homes, the latest step in the process to implement the most controversial section of the sweeping bipartisan housing law passed this summer.

Treasury unveils rules banning large investors from buying homes

Taiwan’s stock exchange will shut on Friday as Typhoon Champi approaches the island, bringing heavy rainfall and strong winds and prompting authorities to shut offices and schools in capital city Taipei.

Taiwan’s US$5 tril stock market to close on Friday as Typhoon Champi nears

Student safety, TVET development and social protection for industrial trainees were among the key issues raised on the final day of the policy-stage debate on the Supply (Budget) Bill 2027 on Thursday.

School safety, TVET direction among key issues in final day of Budget 2027 debate

The Women, Family and Community Development Ministry (KPWKM) will reveal the findings of a study on bullying conducted through the National Population and Family Development Board (LPPKN) as early as this week or next week.

Bullying study findings to be revealed soon — Nancy Shukri 

A financially-distressed Chinese property developer will sell its massive hotel complex in Hong Kong to Malaysia’s ParkCity Group for some RM1.4 billion.

Massive Hong Kong hotel complex to be sold to Malaysian developer for RM1.4 bil

The appellate court has unanimously ruled that the Inland Revenue Board (IRB) has to return tax collected on compensation from properties or land that are forcefully acquired by the authorities.

IRB must return tax collected on compensation from forcefully acquired property, says appellate court

Zetrix AI Bhd (KL:ZETRIX) said no payment default has occurred under its RM2 billion sukuk, as the trustee is scheduled to meet sukuk holders on Friday (Oct 23) to discuss a proposed resolution to a breach involving managing director Wong Thean Soon’s shareholding.

Zetrix AI sukuk holders to meet on Oct 23 to discuss covenant breach, no payment default yet 

Two former senior Lembaga Tabung Haji (TH) officials pleaded not guilty in the Sessions Court here on Thursday for cheating the board of directors in relation to hibah payments totalling RM3.3 billion for the 2017 financial year.

Ex-Tabung Haji CEO, CFO claim trial to cheating board to facilitate RM3.3 bil hibah payment

KUALA LUMPUR (Oct 22): A former deputy religious affairs minister has urged the government to look into the financial health of Urusharta Jamaah Sdn Bhd (UJSB), the company set up by the government in 2018 to take over Tabung Haji's troubled assets.&nbsp;

Datuk Ahmad Marzuk Shaary (PN-P...

Former deputy religious affair minister wants scrutiny of UJSB's financial health, cite NexG disposal 

Here is a brief recap of some business news and corporate announcements that made headlines on Thursday:

Zetrix AI, RHB Bank, TSH Resources, RedPlanet, Aizo Group, BMS, Harbour-Link, Jati Tinggi, TNB, Kerjaya Prospek, Exsim Hospitality, Pavilion REIT and Foodie Media

Global firms and governments rushed on Thursday to patch critical flaws in the PHP programming language that underpins much of the internet, as a cloud firm reported millions of hacking attempts after vulnerabilities were disclosed.

Millions of hacking attempts as companies, governments rush to patch PHP flaws

TSH Resources Bhd (KL:TSH) has responded to queries from the Singapore Stock Exchange (SGX) over recent forest and peatland fires in Indonesia, denying that its plantation operations contributed to the transboundary haze.

TSH Resources responds to SGX queries over Indonesian fires, haze, denies operational links

Perikatan Nasional gets to contest the Nov 14 Melaka election under its own banner after the High Court here on Thursday stayed its deregistration by the Registrar of Societies.

High Court stays PN deregistration, allowing bloc to contest Melaka polls   

Temasek Singapore president Png Chin Yee is set to join the board of CapitaLand Investment Ltd, while chairman Miguel Ko is retiring from the real estate asset manager.

Singapore’s CapitaLand adds Temasek executive to board

Perak has launched Kerian Industrial City (KIC), a 287-acre development in Dennistown with an estimated gross development value (GDV) of RM700 million.

Perak launches Kerian Industrial City with RM700m GDV, projects 12,000 jobs

A consortium led by Jati Tinggi Group Bhd (KL:JTGROUP) has secured a RM568.2 million contract from Tenaga Nasional Bhd (KL:TENAGA) for a transmission main intake substation in Paka, Terengganu.

Jati Tinggi-led consortium bags RM568.2 mil TNB contract in Terengganu 

Norway's US$2.3 trillion (RM9.4 trillion) sovereign wealth fund said it had been "slightly cautious" on the equity markets and some of the larger Big Tech companies after it reported a loss of 278 billion crowns for the third quarter on Thursday.

Norway wealth fund slightly cautious on equities, tech companies

Meridian Bhd (KL:MERIDIAN) said trading in its shares will be suspended from Oct 30 after Bursa Malaysia Securities rejected the company's fifth application for more time to submit a regularisation plan.

The financially distressed property developer added that it faces delisting on Nov 3 unless it appeals by Oct 29.

Meridian to be suspended on Oct 30, faces delisting after latest bid to delay regularisation plan rejected

Aizo Group Bhd (KL:AIZO) said its RM36.79 million sewage system upgrading subcontract in Terengganu will not proceed after the project owner cancelled the main contract awarded to its contractor.

Aizo's RM37m sewage subcontract terminated, faces potential claims

The Ministry of Finance (MOF) will allocate RM1 billion to Urusharta Jamaah Sdn Bhd (UJSB) in 2027 for early sukuk redemption, with the funds also aimed at strengthening Lembaga Tabung Haji’s (TH) cash flow.

Bitcoin retreated below US$83,000 (RM338,806) Thursday, giving up the previous session’s gains even as investors returned to US spot exchange-traded funds.

Bitcoin falls below US$83,000 as AI jitters weigh on sentiment

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.

FBM KLCI up 0.37% to 1,608.14 on Oct 22, 2026  

Huawei Technologies Co has secured a 15 billion yuan (US$2.25 billion or RM9.2 billion) loan from Chinese banks, according to a person familiar with the matter, as spending on chips to power artificial intelligence related projects soars.

Huawei gets US$2.3 bil offshore loan as chip spending soars — Bloomberg

THE energy transition is no longer just an environmental imperative but a question of energy security. As Malaysia seeks to attract investment in energy-intensive industries such as data centres and semiconductor manufacturing, securing reliable, competitively priced and low-carbon power is becom...

Philip T N Koh

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