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 

Japan's core inflation hit 3.0% in February and an index stripping away the effect of fuel rose at the fastest pace in nearly a year, a sign of broadening price pressure that reinforces market expectations of further interest rate hikes.

Japan's core inflation hits 3% in February, keeps alive BOJ rate-hike bets

MORNING CALL: 21/3/25

Oil advanced after the US ramped up measures to hobble Iran’s crude exports, increasing pressure on Tehran amid a push for a new nuclear accord.

Oil advances as US ramps up sanctions against Iranian crude

The Bank of Thailand, which has long resisted interest-rate cuts despite immense political pressure, may end up having to embark on the region’s most aggressive easing cycle as a sluggish economy takes a turn for the worse, according to analysts.

Thailand may yet embark on Southeast Asia's most aggressive rate cuts

Asian equities were primed to track declines on Wall Street as traders weighed the impact of a trade war against robust US housing and jobs data.

Asian stocks poised to fall as trade fears return

Micron Technology forecast third-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for its high-bandwidth memory (HBM) chips used in AI models, sending its shares up 2% in after-hours trading.

Micron forecasts upbeat quarterly revenue on strong AI memory chip demand

A fresh bout of instability gripped the stock market as concern around the potential impacts of a trade war outweighed the latest housing and jobs data showing the world’s largest economy is still holding up.

US stocks halt Fed-fuelled rally as trade fear lingers

Lloyd’s Register, the maritime society formed in a London coffee house in 1760, has put its modern glass headquarters up for sale as it prepares to move back into the property built to house it more than a century ago.

Lloyd’s Register to sell modern tower and return to Victorian HQ

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

Salcon, Scanwolf, Reservoir Link, Pharmaniaga, IJM, Lagenda Properties, Land & General, Hextar Global, Top Glove, Cahya Mata Sarawak, Iskandar Waterfront City

Panama's President Jose Raul Mulino said on Thursday that he didn't place any value on reports the US military is looking into options for ensuring full US access to the Panama Canal, since these reports came from unnamed sources.

Mulino dismisses reports of US military evaluating Panama Canal options

THERE is no denying that the Employees Provident Fund’s (EPF) 6.3% dividend declared for both conventional savings and shariah savings for 2024 is nothing short of spectacular and would have been celebrated with more vigour — if not for the lingering questions surrounding its seemingly untimely s...

Special Report: Dispelling aspersions surrounding EPF’s impressive 6.3% dividend for 2024

Cahya Mata Sarawak Bhd (KL: CMSB) has initiated legal action against its deputy chairman Datuk Seri Mahmud Abu Bekir Taib over alleged breaches of trust and fiduciary duties in relation to a failed enterprise resource planning (ERP) system under the company’s digital transformation project.

Cahya Mata Sarawak sues deputy chairman Abu Bekir Taib, five others over failed project

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

Iskandar Waterfront City Bhd (KL:IWCITY) has proposed a regularisation plan involving the issuance of new shares to settle outstanding debts, a private placement and a capital reduction in order to exit its affected listed issuer status.

Iskandar Waterfront City unveils regularisation plan to convert debt into equity, issue new shares  

Hextar Oiltech Sdn Bhd, a 60%-owned subsidiary of Hextar Global Bhd (KL:HEXTAR), has been appointed as an exclusive distributor of Petromin’s premium lubricant in Malaysia.

Hextar Global to sell Petromin lubricants in Malaysia 

Eco World Development Group Bhd (KL:ECOWLD) posted a 15.4% year-on-year (y-o-y) increase in net profit for the first quarter ended Jan 31, 2025 (1QFY2025) to RM80.34 million, driven by two major industrial land sales and stronger contributions from its projects in Johor.

Industrial land sales boost EcoWorld net profit in 1QFY2025; declares one sen interim dividend

Asian equities were primed to track declines on Wall Street as traders weighed the impact of a trade war against robust US housing and jobs data.

The Bank of Thailand, which has long resisted interest-rate cuts despite immense political pressure, may end up having to embark on the region’s most aggressive easing cycle as a sluggish economy takes a turn for the worse, according to analysts.

Nasdaq-listed Founder Group Bhd, a subsidiary of Reservoir Link Energy Bhd (KL:RL), has secured a RM11.6 million contract to build a rooftop solar generating facility in Malaysia.

Reservoir Link unit secures RM11.6m contract to build rooftop solar generating facility 

US stock indexes dropped on Thursday, as worries about the repercussions of an ongoing global trade war resurfaced, a day after the Federal Reserve left interest rate steady but warned of an uncertain economic backdrop.

Wall Street trips as tariff concerns resurface; US Fed boost short-lived 

Scanwolf Corp Bhd (KL:SCNWOLF) has secured a RM42 million contract for sub-structure works on two commercial blocks in Jalan Ampang in a related-party transaction (RPT).

Scanwolf secures RM42 mil sub-structure contract for mixed-use project in KL in related-party deal

Oil advanced after the US ramped up measures to hobble Iran’s crude exports, increasing pressure on Tehran amid a push for a new nuclear accord.

A fresh bout of instability gripped the stock market as concern around the potential impacts of a trade war outweighed the latest housing and jobs data showing the world’s largest economy is still holding up.

Elon Musk is suing India’s government over content regulation and censorship of X, a surprise move for a billionaire trying to negotiate access for Tesla Inc&nbsp;and Starlink.

Musk sues India’s govt over content regulation, censorship of X

Apollo Global Management co-founder Marc Rowan will be called to testify for the defence in Charlie Javice’s trial on charges that she defrauded JPMorgan Chase &amp; Co in the bank’s US$175 million (RM775.75 million) acquisition of her student-finance startup, Frank.

Apollo’s Rowan to be first defence witness at Javice fraud trial

Apple is losing more than US$1 billion (RM4.4 billion) a year on its streaming service Apple TV+, the Information reported on Thursday, citing two people familiar with the matter.

Apple losing over US$1b a year on streaming service — report

Lloyd’s Register, the maritime society formed in a London coffee house in 1760, has put its modern glass headquarters up for sale as it prepares to move back into the property built to house it more than a century ago.

CoreWeave Inc, a cloud-computing provider that’s one of the hottest startups in artificial intelligence (AI), and some of its investors are seeking to raise as much as US$2.7 billion in an initial public offering (IPO).

AI cloud hosting firm CoreWeave launches US$2.7 bil IPO

Micron Technology forecast third-quarter revenue above Wall Street estimates on Thursday, signaling strong demand for its high-bandwidth memory (HBM) chips used in AI models, sending its shares up 2% in after-hours trading.

A safety warning system went off in a Delta Air Lines regional jet before it landed and flipped belly-up at Canada's largest airport in February, indicating a fast rate of descent, the country's Transportation Safety Board (TSB) said on Thursday in a preliminary report on the accident.

Philip T N Koh

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Philip T N Koh

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