The criminal charge against the late former finance minister Tun Daim Zainuddin, for a failure to declare his assets, has been dropped following his demise.

Prosecution drops criminal charge against Daim, court grants 'posthumous' acquittal

PUTRAJAYA (Nov 19): Imprisoned former prime minister Datuk Seri Najib Razak’s appeal of his RM1.9 million malfeasance in public office suit against former attorney general (AG) Tan Sri Tommy Thomas has been vacated yet again.

Another COA judge recuses herself, Najib’s appeal in suit against Tommy Thomas postponed

Barisan Nasional (BN) Sabah chief Datuk Seri Bung Moktar Radin and his wife Datin Seri Zizie Izette Abdul Samad must enter their defence in the graft case involving RM2.8 million linked to a Felcra Bhd investment.

COA: Bung Moktar, wife must defend themselves against graft charges

KUALA LUMPUR (Nov 15): A local egg importer company’s libel suit against former minister Datuk Seri Azmin Ali has been dismissed.

Egg importer’s suit against Azmin Ali dismissed

New solicitors will represent Muhammed Yusoff Rawther in his sexual assault suit against Prime Minister Datuk Seri Anwar Ibrahim.

New solicitors for Anwar's ex-aide Yusoff Rawther, who is suing PM for sexual assault

The charges facing Datin Seri Rosmah Mansor's RM7.1 million trial are in line with the requirements of the law, the High Court heard on Tuesday.

Prosecution: Nothing wrong with charges in Rosmah's money laundering and tax evasion case

The High Court has dismissed the Malaysian Bar's application for leave (permission) to mount a legal challenge against the Pardons Board's decision to reduce former prime minister Datuk Seri Najib Razak’s prison sentence and fine in the SRC International Sdn Bhd case.

Bar's legal challenge against Najib's pardon in SRC case dismissed

KUALA LUMPUR (Nov 8): Former prime minister Tan Sri Muhyiddin Yassin has to pay a total of RM1.35 million in damages for defaming ex-finance minister Lim Guan Eng with his statements concerning tax breaks for Tan Sri Syed Mokhtar Al-Bukhary’s charity foundation Yayasan Albukhary.

Court orders Muhyiddin to pay RM1.35m in damages to Guan Eng over defamatory comments on Yayasan Albukhary’s tax breaks

KUALA LUMPUR (Nov 7): The High Court has set Dec 11 to deliver its decision on the prosecution’s application to bar PetroSaudi International Ltd (PSI) chief executive officer Tarek Obaid and others from accessing the US$340 million allegedly linked to 1Malaysia Development Bhd (1MDB).

December decision on application to bar Tarek Obaid, others from accessing millions linked to 1MDB

IN a surprising move last week, former prime minister Datuk Seri Najib Razak expressed regret that the multi-billion dollar scandal 1Malaysia Development Bhd had occured under his watch.  His “unequivocal apology to all Malaysians for his oversight” comes ahead of  an impending decision...

1MDB-Tanore Trial: Najib to know on Wednesday whether he needs to enter defence or is acquitted 

Stocks ended the day higher as traders contemplated a new US administration keen on deregulation. Bitcoin blew past $98,000 while the dollar gained and Treasury yields rose.

The S&P 500 advanced 0.5% after a choppy morning session spurred by swings in Nvidia Corp. and angst about the war in Ukraine.

Trump trade boosts stocks, Bitcoin run at $100,000

Reddit was down for thousands of users on Thursday, according to outage tracking website Downdetector.com, a day after the social media company said it had fixed a software bug.

Downdetector, which tracks outages by collating status reports from several sources including users, showed more than 14,000 reports of outages.

Reddit down for thousands of users, Downdetector shows

The Inland Revenue Board (LHDN) will continue to enforce compliance through audits and investigations to detect any non-compliance among taxpayers in Malaysia.

LHDN deputy chief executive officer (Compliance) Datuk Hisham Rusli said that all actions are carried out in accordance with the laws set forth.

IRB committed to improving tax compliance via  audits, probes

The International Criminal Court (ICC) issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes in Gaza, adding to pressure on the country’s leadership over the conduct of its military campaign against Hamas.

ICC issues arrest warrant for Israel’s Netanyahu on Gaza ‘war crimes’

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

Petron, DRB-Hicom, Dayang Enterprise, AEON, 7-Eleven, MSM, Hap Seng Consolidated, SunCon, UEM Sunrise, Mega First, Oriental, Heitech Padu, Can-One, Atlan, Maxim, Thong Guan, Globetronics

Thailand is taking steps to attract more foreign investment to accelerate economic growth while preparing to adjust its policies to cope with potential changes to world trade under a Trump presidency, Prime Minister Paetongtarn Shinawatra said.

Thailand seeks foreign investment as PM plans for Trump era

Volkswagen AG faces a growing threat of widespread walkouts as executives and unionists dig in over how to restructure Europe’s biggest automaker.

Labour leaders are offering €1.5 billion (RM7.08 billion) in additional cost cuts — including foregoing some bonuses — to keep factories open, after management dangled the idea of closures.

VW lurches closer to walkouts after talks with union deadlocked

Baidu Inc recorded its biggest revenue drop in more than two years after China’s economic malaise undermined its push into generative AI.

Chinese AI pioneer Baidu posts biggest sales fall since 2022

Magnum Bhd (KL:MAGNUM) reported a slight dip in net profit in the July-Sept period as income tax and other expenses increased, but cushioned by better income generated by its gaming and investment holdings and other segments.

Magnum posts marginally lower net profit in 3Q, amid higher tax and other expenses, declares 1.5 sen dividend

UBS has seen weak European growth hit companies it lends to, CFO Todd Tuckner said on Thursday, with the bank facing a 2024 credit loss expense of some 150 million Swiss francs (US$170 million or RM757.72 million) in its personal and corporate banking business.

UBS flags 'sluggish' Europe growth as it takes US$170m credit hit

Globetronics Technology Bhd (KL:GTRONIC) has inked an agreement valued at RM145 million to provide integrated circuit (IC) product packaging, testing and backend services to Taiwan-based ChipMOS Technologies Inc.

Globetronics secures RM145 mil contract to provide assembly and test services to Taiwan’s ChipMOS

Atlan Holdings Bhd's (KL:ATLAN) Singapore-listed subsidiary Duty Free International Ltd (DFIL), which plans to challenge the compulsory acquisition of two plots of land in Kedah by the Malaysian government, announced on Thursday that it had received RM69.6 million as compensation for the land.

The sum was received from the Home Affairs Ministry, which is force-buying the plot from DFIL's wholly-owned Cergasjaya Sdn Bhd and Cergasjaya Properties Sdn Bhd, on Monday (Nov 18).&nbsp; DFIL itself is 75.53% owned by Atlan.

Home Affairs Ministry pays Atlan RM69.6 mil for compulsory purchase of its Kedah plot

Prime Minister Datuk Seri Anwar Ibrahim said on Thursday that about 70% to 80% of the costs of his official trips to five countries over the past two weeks were paid by private companies.

Private firms paid up to 80% of costs for recent official trips abroad, Anwar tells Dewan Rakyat

Thong Guan Industries Bhd (KL:TGUAN) has proposed a seven sen per share special dividend from proceeds of the sale of its food and beverage (F&amp;B) business to its largest shareholder Foremost Equals Sdn Bhd for RM60 million.

Thong Guan proposes seven sen dividend from proceeds of sale of F&B business to major shareholder for RM60m

Sugar producer MSM Malaysia Holdings Bhd (KL:MSM) continued to record losses for the second consecutive quarter, after the group reported a RM49.75 million net loss for the third quarter ended Sept 30, 2024 (3QFY2024).

MSM Malaysia continues to bleed for the second consecutive quarter

Oil company Petron Malaysia Refining &amp; Marketing Bhd (KL:PETRONM) suffered a 94.3% drop in its third-quarter net profit, on lower sales volume due to a correction in domestic fuel demand following the implementation of the retail diesel targeted subsidy in June this year.

Petron Malaysia's 3Q net profit down 94% on lower sales volume, oil prices

Heitech Padu Bhd (KL:HTPADU) recorded a net profit of RM6.58 million for the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net loss of RM1.4 million in the corresponding quarter, thanks to a one-off gain on disposal of land and building.

Heitech Padu posts 3Q profit on land, building disposal gain

AEON Co (M) Bhd (KL:AEON), a general merchandise store and supermarket chain operator, saw its net profit rise 35.4% to RM18.79 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM13.88 million a year earlier on higher revenue.

AEON Co 3Q net profit up 35% with growth across all segments

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

Oil and gas services provider Dayang Enterprise Holdings Bhd (KL:DAYANG) said it will continue to deliver outstanding performance after posting a record high net profit for its third quarter, which surged 76.67% year-on-year.

Dayang says will continue delivering outstanding performance after 3Q profit hits record

DRB-Hicom Bhd (KL:DRBHCOM) saw a net loss of RM5.29 million in the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net profit of RM70.8 million in the same quarter last year.

DRB-Hicom records net loss in 3Q amid automotive and postal sector weakness

Sunway Construction Group Bhd (KL:SUNCON) posted a 32.71% jump in its net profit for its third quarter on the accelerated progress of its data centre projects.

Net profit for the third quarter ended Sept 30, 2024 (3QFY2024) rose to RM46.47 million from RM35.01 million in 3QFY2023, as revenue rose 28.48% to RM865.33 million from RM673.51 million, its Thursday bourse filing showed.

SunCon's 3Q profit jumps 32.71% on accelerated data centre progress

Hap Seng Consolidated Bhd (KL:HAPSENG) posted a three-fold jump in net profit for its third quarter from a year ago, on improved contributions from the diversified group’s plantation, property and credit financing divisions.

Hap Seng 3Q net profit more than triples, declares 10 sen dividend

Indian billionaire Gautam Adani,&nbsp;indicted in New York&nbsp;over a US$265 million (RM1.18 billion) bribery scheme, is a first-generation tycoon whose phenomenal rise has been accompanied by a series of damaging controversies at home and abroad.

Who is Gautam Adani, controversial Indian tycoon charged with bribery in US?

Kucingko Bhd (KL:KUCINGKO), a 2D animation production company, has decided to discontinue the services of its external auditor Messrs Russell Bedford LC PLT over a disagreement on audit fees.

Kucingko drops Russell Bedford as auditor over fee dispute

Deputy Works Minister Datuk Seri Ahmad Maslan said on Thursday that the implementation of the multi-lane free flow (MLFF) toll system is still under "heavy consideration" by the government.

Ahmad Maslan: RM3.5 bil multi-lane free flow project remains under 'heavy consideration' by govt

Oriental Holdings Bhd (KL:ORIENT) saw the diversified group’s net profit for the third quarter fall 70.12% year on year to RM88.87 million, from RM297.42 million on the absence of one-off gains recognised in the corresponding quarter in 2023.

Oriental 3Q net profit down 70% on absence of one-off gains

After two years, property developer Maxim Global Bhd (KL:MAXIM) has decided not to pursue further action against the revocation of plantation concession licences issued by Indonesia's Ministry of Environment and Forestry in January 2022 in relation to assets owned by its 90%-owned subsidiaries — PT Trimegah Karya Utama (PT TKU) and PT Manunggal Sukses Mandiri (PT MSM) — in Papua, Indonesia.

Maxim Global gives up plantation concession permits in Indonesia

Wall Street's main stock indexes were mixed in choppy trading on Thursday as Alphabet weighed on the market, while investors also focussed on AI-heavyweight Nvidia's upbeat quarterly results and forecast.

Wall Street mixed after Nvidia results; Alphabet weighs

KUALA LUMPUR (Nov 21): Human Resources Minister Steven Sim has confirmed that the chief executive officer of Human Resources Development Corporation (HRD Corp), Datuk Shahul Hameed Dawood, has returned to work.

According to Sim, Shahul had been on administrative leave since July 18 to a...

Tarani Palani

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

Tarani Palani

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌

‌
‌