KUALA LUMPUR (Dec 1): Public Bank Bhd saw 30 million shares representing 0.15% of its shares traded off-market on Thursday (Dec 1).

Public Bank sees RM132.6 mil worth of shares traded off market

APM Automotive Holdings Bhd said the Employees Provident Fund (EPF) has ceased to be a substantial shareholder of  the company.

The pension fund’s stake in APM dropped below 5% after it sold 279,500 APM shares on Dec 8, the company said in a filing with Bursa Malaysia on Tuesday (Dec 13).

EPF ceases to be substantial shareholder of APM Automotive

Mercedes-Benz Malaysia Sdn Bhd has introduced the new EQE 350+ by Mercedes EQ, the luxury carmaker's second model series to be based on the electric architecture, which is developed specifically for electric vehicles.

The EQE 350+ is available at the recommended retail selling price of RM419,888 on the road, with 10% sales tax and excluding insurance.

Mercedes-Benz Malaysia introduces all-new EQE 350+

AmInvestment Bank Bhd expects glove makers to slip into or widen losses, especially for the fourth quarter ending Dec 31, 2022 (4Q2022) and 1Q2023, mainly due to further declines in average selling prices (ASPs) in December, following relative price stabilisation over the past three months.

AmInvestment sees glove makers stumbling on further ASP decline

Petronas Carigali Sdn Bhd has inked a heads of agreement with JX Nippon Oil & Gas Exploration Corp to collaborate in developing a joint proposal to monetise the gas potential within the Bujang, Inas, Guling, Sepat and Tujoh fields that are located offshore Kerteh, Terengganu.

Petronas Carigali, JX Nippon to work together on monetising BIGST gas potential offshore Terengganu

RHB Research is projecting a three-year earnings compound annual growth rate for Ancom Nylex Bhd of 26.1% from financial year ended May 31, 2022 (FY22) to FY25 on new income streams and cost savings from additional stakes in businesses, as well as the introduction of new agriculture active ingredients chemicals.

RHB Research projects three-year earnings CAGR of 26.1% for Ancom Nylex

Capital A Bhd's wholly owned AirAsia Aviation Group Ltd's (AAAGL) entry into Cambodia with Sivilai Asia is deemed positive but it could take longer than expected before the venture turns profitable, according to Kenanga Research.

Kenanga Research: AirAsia’s venture into Cambodia deemed positive but turning profitable could take longer than expected

Datasonic Group Bhd has entered into a Memorandum of Agreement with the West African nation of Guinea relating to the printing of secure documents, digitisation, and improvement of land management solutions and services.

Datasonic inks deal with Republic of Guinea on digitisation, land management matters  

Petra Energy Bhd has secured a one-year extension to the contract from Petronas Carigali Sdn Bhd for the provision of offshore maintenance, construction and modification services.

Petra Energy secures one-year extension to MCM contract from Petronas Carigali

Vestland Bhd has inked an agreement with AmInvestment Bank Bhd to underwrite a total of 74.96 million ordinary shares in conjunction with its initial public offering (IPO) on the ACE Market of Bursa Malaysia.

Vestland inks underwriting agreement for ACE Market IPO

A look at the day ahead in Asian markets.

As the dust settles on a remarkable 24 hours of central bank activity, investors in Asia round off the last full trading week of the year hoping for some respite from the global market selloff sparked by the Fed's 'hawkish cut' on Wednesday.

Seeking respite from Fed; PBOC set to hold the line

A federal judge confirmed an 18-year prison sentence for Archegos Capital Management founder Bill Hwang, rejecting arguments that he should be allowed to spend a third of that time in the comfort of his own home.

Bill Hwang’s bid to reduce 18-year prison term is rejected

US stocks ended a choppy session with modest losses, struggling to rebound from the selloff they suffered after the Federal Reserve dialed back rate-cut expectations for next year. 

The S&P 500 gave up earlier gains to end the day little changed.

Stocks fail to recover from Fed-fueled selloff

Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended mostly lower on Thursday in line with the weaker soybean oil performance on the Chicago Board of Trade (CBOT), said palm oil trader David Ng.

CPO futures close mostly lower in sync with weaker soybean oil prices

Police have recorded the statement of blogger Wan Muhammad Azri Wan Deris, better known as Papagomo, regarding his allegedly defamatory and insulting remarks against the Inspector-General of Police and the security forces.

Inspector General of Police Tan Sri Razarudin Husain said Wan Muhammad Azri had his statement recorded at 3pm Thursday at the Setapak police station.

Police record Papagomo's statement over defamatory remarks against IGP, PDRM

A coalition of non-governmental organisations (NGOs) on Thursday called on Prime Minister Datuk Seri Anwar Ibrahim to announce a clear timeline for the separation of the public prosecution function from the Attorney General’s Chambers (AGC).

NGOs urge PM to announce clear timeline for separation of AG-PP's powers after Rosmah's acquittal 

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

MRCB, Pentamaster, UEM Sunrise, Mah Sing, S P Setia, Mynews, UWC, Aeon Credit, United Malacca, Vestland, Uzma, Bonia, Catcha Digital, Southern Steel 

The US Department of Commerce has recently asked Nvidia to look into how the company's products ended up in China over the past year, The Information reported on Thursday, citing a person close to the department.

US asks Nvidia to investigate how its chips ended up in China — report 

As the Russian president, Vladimir Putin, held his carefully stage-managed annual phone-in and press conference to answer questions from journalists and ordinary Russians, EU leaders were hosting Ukraine’s president Volodymyr Zelensky in Brussels at their final meeting of the year. Unsurprisingly, the war in Ukraine loomed large at both events.

Ukraine war: As 2025 approaches, Kyiv is left with few good options and allies in a Trump 2.0 world

The US Congress has two days as of Thursday to avert a partial government shutdown after President-elect Donald Trump rejected a bipartisan deal on federal spending and demanded lawmakers address the nation's debt ceiling before he takes office next month.

US Congress has two days to avert shutdown after Trump rejects spending bill

Chai Woon Yun, daughter of Aset Kayamas founder Tan Sri Datuk Chai Kin Kong, has become the largest shareholder of Kanger International Bhd through a private placement.

Daughter of Aset Kayamas founder is now Kanger’s largest shareholder

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

UWC Bhd's (KL:UWC) net profit rose 49.2% to RM6.5 million in the first quarter ended Oct 31, 2024 (1QFY2025) from RM4.35 million a year ago, lifted by increasing orders from the semiconductor industry.&nbsp;

Contributions from its acquired subsidiaries, MCE Technologies Sdn Bhd (MCET) and MCT (Thailand) Co Ltd, also add to the earnings.

UWC's net profit jumps 49% as revenue nearly doubles on increased semiconductor orders 

Pentamaster Corp Bhd (KL:PENTA) on Thursday proposed to privatise its 63.9%-owned Hong Kong-listed Pentamaster International Ltd (PIL) with a partner in an exercise that would raise its stake to 71%.

Pentamaster, partner to privatise HK-listed unit; confirms The Edge’s report

Wall Street's main indexes regained some ground on Thursday, a day after the Federal Reserve's projections of fewer-than-expected interest rate cuts and higher inflation next year wrong-footed some investors and pummelled US stocks.

Wall Street bounces back after Fed's hawkish cut triggers sell-off

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Aeon Credit Service (M) Bhd (KL:AEONCR) reported a 27.44% drop in net profit for the third quarter ended Nov 30, 2024 (3QFY2025), primarily dragged by a share of its associate's loss and increased interest expense.

Aeon Credit’s 3Q profit down 27% on associate’s loss, higher interest expense

The police are investigating PAS president Tan Sri Abdul Hadi Awang over his alleged statement regarding the Batu Puteh issue, which could potentially cause public unrest.

PAS chief under probe over comment on Batu Puteh, says IGP

United Malacca Bhd's (KL:UMCCA) net profit more than doubled for its second quarter of August-October, driven by higher average crude palm oil (CPO) and palm kernel (PK) prices.

United Malacca's net profit more than doubles to RM30.9 mil, its highest in four years

A coalition of non-governmental organisations (NGOs) on Thursday called on Prime Minister Datuk Seri Anwar Ibrahim to announce a clear timeline for the separation of the public prosecution function from the Attorney General’s Chambers (AGC).

The US Department of Commerce has recently asked Nvidia to look into how the company's products ended up in China over the past year, The Information reported on Thursday, citing a person close to the department.

Main-Market listed Lotus Circular Bhd (KL:LOTUSCIR) is acquiring two waste recycling companies — Earthwise Resources Sdn Bhd and Expert Resources Management Sdn Bhd — controlled by its director and major shareholder Datuk Wong Sak Kuan for RM100 million, to expand its footprint in the business. &nbsp;

Lotus Circular buys two waste recycling firms controlled by its major shareholder for RM100 mil

An Australian computer scientist who falsely claimed he invented bitcoin was on Thursday found in contempt of court for bringing a £911 billion (US$1.2 trillion or RM5.4 trillion) lawsuit against Twitter founder Jack Dorsey's payments company Block &nbsp;in Britain.

Self-proclaimed bitcoin inventor in contempt of court over US$1.2 tril UK lawsuit

Malaysia's domestic tourism performance showed strong growth in the third quarter of 2024, recording 66.3 million visitors and a total expenditure of RM25.6 billion, according to a report by the Department of Statistics Malaysia (DOSM) on Thursday.

Domestic tourism soars with 66.3 mil visitors logged in 3Q2024 — DOSM

Europe’s top fashion houses will reluctantly conclude that high profit margins are a luxury they can no longer afford in 2025. The likes of LVMH, Kering&nbsp;and Chanel aggressively hiked prices on handbags, shoes and jackets during the pandemic. As demand from Chinese consumers rapidly cools, CEOs will be forced to rethink.

Luxury firms will warily cut prices to boost sales

The Court of Appeal has granted UEM Sunrise Bhd’s (KL:UEMS) wholly-owned unit UEM Land Bhd leave to challenge the Inland Revenue Board’s (IRB) additional tax assessment and penalty of RM8.49 million.

Appellate court grants UEM Sunrise unit leave to challenge additional tax assessment

Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended mostly lower on Thursday in line with the weaker soybean oil performance on the Chicago Board of Trade (CBOT), said palm oil trader David Ng.

Russian President Vladimir Putin said on Thursday that he was ready to compromise over Ukraine in possible talks with US President-elect Donald Trump on ending the war and had no conditions for starting talks with the Ukrainian authorities.

Trump, a self-styled master of brokering agreements and author of the 1987 book 'Trump: the Art of the Deal', has vowed to swiftly end the conflict, but has not yet given any details on how he might achieve that.

Putin says Russia is ready to compromise with Trump on Ukraine war

Funds stolen by hacking cryptocurrency platforms surged 21% from a year ago to US$2.2 billion (RM9.9 billion) in 2024, a report from blockchain analysis firm Chainalysis showed on Thursday.

Losses from crypto hacks jump to US$2.2b in 2024 — report 

US Tesla Inc is in early discussions with the city of Austin about its autonomous vehicle technology it hopes to roll out on Texas roads as early as next year.

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