Moody's Investors Service on Monday affirmed the long-term foreign currency deposit ratings of HSBC Bank Malaysia Bhd (HSBC Malaysia) at A2 and Standard Chartered Bank Malaysia Bhd (StanChart Malaysia) at Baa1.

Moody's affirms all ratings of HSBC Malaysia, StanChart Malaysia with stable outlook

AT&T Inc’s choice of Ericsson AB for a US$14 billion (RM65.56 billion) revamp of its sprawling mobile network marks a coming of age for flexible wireless technology that promises to bring competition to infrastructure markets dominated by two companies.

AT&T’s US$14b Ericsson deal signals open networks’ arrival

Opec+ will need to maintain its latest oil supply cuts throughout next year in order to keep the global market in balance, according to Citigroup Inc.

Opec+ will need to maintain oil cuts through 2024, says Citi 

Bulk grain shippers hauling crops from the US Gulf Coast export hub to Asia are sailing longer routes and paying higher freight costs to avoid vessel congestion and record-high transit fees in the drought-hit Panama Canal, traders and analysts said.

Panama Canal drought to delay grain ships well into 2024

China's Huawei Technologies has asked Mercedes Benz and Volkswagen's Audi if they are interested in buying small stakes in its smart car software and components firm, according to three people with knowledge of the discussions.

Huawei approaches Audi, Mercedes about smart car investment, sources say

Japan’s slow transition to electric cars has been blamed on the usual suspects — high prices, few models, limited charging infrastructure and range anxiety.

Using Big Data to speed up Japan’s slow electric car transition

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

EVENING 5: Five things you need to know today

Rajiv Jain’s GQG Partners LLC saw the value of its India portfolio more than double in little over a year, driven by winning stock picks that go beyond headline-grabbing investments in the Adani Group.

Rajiv Jain-led GQG’s US$10b India bet has winning picks beyond Adani

Occidental Petroleum Corp agreed to acquire Texas shale driller CrownRock LP in a cash-and-stock deal valued at about US$12 billion (RM56 billion) as consolidation heats up in North America’s most-prolific oil basin.

Occidental to buy oil driller CrownRock in US$12 bil deal

Malaysia Airports Holdings Bhd (MAHB) has appointed former S P Setia Bhd deputy president and chief operating officer Datuk Seri Koe Peng Kang as its independent and non-executive director, effective Dec 12.

Former S P Setia deputy president Koe Peng Kang appointed independent director at MAHB

Hong Leong Industries Bhd (HLI) has sold its investment holding firm HLI Trading Ltd (HLIT) to Guoline International Ltd (GIL) for US$7.78 million (RM36.22 million) in a related-party cash transaction.

HLIB sells investment holding unit to major shareholders’ firm

Abang Abdillah Izzarim Abang Abdul Rahman Zohari has stepped down as executive chairman of Sarawak Consolidated Industries Bhd (SCIB), just six months after he was appointed to the position.

Abang Jo’s son Abang Abdillah resigns as SCIB executive chairman; Zaini Jass named new non-executive chairman

Malaysia’s industrial production index's (IPI) return to growth in October after two months of marginal declines was in line with the better export performance during the month, a research house said.

Malaysia’s IPI rebounds in October; research house says trade weakness may impact growth

Moody's Investors Service (Moody's) has affirmed Axiata Group Bhd's Baa2 issuer rating and baa3 baseline credit assessment (BCA).

The rating agency said it has also affirmed the provisional (P) Baa2 senior unsecured ratings on the sukuk issuance programme established by Axiata SPV2 Bhd and the medium-term note programme established by Axiata SPV5 (Labuan) Ltd, as well as the Baa2 rating on all backed senior unsecured notes issued by the two entities, which are wholly owned subsidiaries of Axiata.

Moody's affirms Axiata's Baa2 ratings, maintains stable outlook

The UN's climate body on Monday published its latest draft text of the deal it hopes to reach at the COP28 summit in Dubai, which includes a range of actions countries could take to reduce emissions.

New COP28 draft text does not mention phase out of fossil fuels

The Communications and Digital Ministry (KKD) will carry on blocking social media platforms with content that can influence, affect and compromise public morals.

KKD will continue to block social media platforms that compromise public morals — Fahmi

Malaysia has not yet reached a final decision regarding Article 6 Paragraph 2 of the Paris Agreement due to fears that it may affect the Nationally Determined Contribution (NDC) commitment that has been set.

Malaysia still studying Article 6 of Paris Agreement, concerned about impact on NDC commitment

Representatives from Myanmar's ruling military have held talks, facilitated by China, with three armed rebel groups leading an anti-junta offensive, state media reported a junta spokesperson as saying on Monday.

Myanmar military meets rebel groups with China's help — junta spokesperson

Prime Minister Datuk Seri Anwar Ibrahim is expected to announce a Cabinet reshuffle on Tuesday, which will likely include the appointment of a finance minister II, according to sources with knowledge of the matter.

PM set to announce Cabinet reshuffle tomorrow, EPF CEO tipped to be finance minister II — sources

Supermax Corp Bhd said shareholders without any management role or without position in the company’s board of directors have no authority to make any official statement on its behalf.

Supermax says shareholders without board posts can't speak for company as family strain resurfaces over jet buy

KUALA LUMPUR (Dec 11): Shares in YTL Power International Bhd continued their upward momentum on Monday toward their highest since the company’s listing in 1997, after it announced its partnership with US-tech giant Nvidia Corp to build an artificial intelligence (AI) data centre in Johor.

YTL Power, YTL Corp hit fresh record highs on AI hub tie-up with Nvidia

Huawei Technologies Co’s Mate 60 Pro smartphone shows “significant progress” in China’s domestic design and engineering of radio-frequency chips, according to the latest findings from research firm TechInsights.

Huawei phone shows China replacing US suppliers of 5G tech

KUALA LUMPUR (Dec 11): Independent advisor Malacca Securities said the takeover offer price of RM1.55 for Boustead Plantation Bhd (BPlant) by Lembaga Tabung Angkatan Tentera (LTAT) is “not fair” but “reasonable” and recommended that shareholders accept the offer.

Malacca Securities deems BPlant’s takeover price unfair but recommends shareholders accept it

theedgemalaysia.com highlighted three stocks with positive momentum and two stocks with negative momentum at Bursa Malaysia's afternoon close on Monday.

YTL Corp, KUB Malaysia, RCE Capital, Engtex, YTL Power

Abang Abdillah Izzarim Abang Abdul Rahman Zohari has stepped down as executive chairman of Sarawak Consolidated Industries Bhd (SCIB), just six months after he was appointed to the position.

The contract value of local companies' involvement in the East Coast Rail Link (ECRL) project has reached RM12.99 billion, surpassing the set target of RM10.8 billion, according to Transport Minister&nbsp;Anthony Loke Siew Fook.

ECRL: Local company contract value reaches RM12.99b, surpasses RM10.8b target, says Loke

KUALA LUMPUR (Dec 11): The move towards&nbsp;de-dollarisation could have positive impacts on the Malaysian economy, said&nbsp;Socio-Economic Research Centre executive director Lee Heng Guie.&nbsp;

De-dollarisation could have positive impacts on Malaysian economy — expert

Yang di-Pertuan Agong&nbsp;Al-Sultan Abdullah Ri’ayatuddin Al-Mustafa Billah Shah officiated the installation of the first&nbsp;track of the East Coast Rail Link (ECRL) project here on Monday.

King officiates installation of first ECRL track

The Civil Aviation Authority of Malaysia (CAAM) has granted type certification to Airbus’&nbsp;next generation twin-engine H160 to fly in Malaysia skies in the coming months. &nbsp;

Airbus H160 gets nod from CAAM for Malaysian skies

KUALA LUMPUR (Dec 11): Hong Leong Investment Bank (HLIB) Research has maintained its “buy” call on Ancom Nylex Bhd, a manufacturer and seller of chemical products, and a target price of RM1.65 based on 17.5 times forecast financial year 2024 (FY2024F) of earnings per share.

Ancom Nylex to benefit from manufacture of new agrichemicals, strong demand, says HLIB Research

KUALA LUMPUR (Dec 11): Jentayu Sustainables Bhd’s second generator of its 40MW (megawatt)&nbsp;Telekosang run-of-river hydropower plant in Tenom, Sabah, has achieved its initial operation date on Dec 9, with the feed-in-tariff commencement date (FiTCD) targeted in the next 30 days.

Jentayu sees Telekosang Hydro 2 feed-in-tariff in one month, to rope in partner for 170MW Project Oriole

Bursa Malaysia snapped five consecutive days of losses last week to end higher on Monday on late buying amid the mixed regional market performance, said an analyst.&nbsp;

Late buying lifts Bursa to end at intraday high

Australia’s government is looking to calm a political storm around record-high migration, at a time when Prime Minister Anthony Albanese faces plunging approval ratings, stoked by public discontent on everything from inflation to surging rents.

Australia to curb migration as PM Albanese faces voter backlash

DRB-Hicom Bhd has entered into an agreement to form a joint-venture (JV) company with China’s auto giant Zhejiang Geely Holding Group Co Ltd for the overall operation and management of the development and construction of the Automotive Hi-Tech Valley (AHTV) project in Tanjung Malim, Perak.

DRB-Hicom, Geely form JV to develop Automotive Hi-Tech Valley project

KUALA LUMPUR (Dec 11): Bursa Malaysia Derivatives Bhd (BMD) has&nbsp;launched its first currency futures contract, the Mini&nbsp;USD/CNH Futures (FCNH), through a licensing agreement established with Hong Kong Exchanges and Clearing Ltd (HKEX).

Bursa Malaysia Derivatives launches first currency futures contract through HKEX collaboration

Sentral Real Estate Investment Trust (Sentral REIT) said on Monday that it has completed the acquisition of Menara CelcomDigi in Petaling Jaya from Malaysian Resources Corp Bhd (MRCB) for RM450 million.

Sentral REIT completes RM450 mil acquisition of Menara CelcomDigi from MRCB

Penang has reportedly&nbsp;proven its allure to both new and existing investors, with an investment inflow of RM34.6 billion in the manufacturing sector in the third quarter of 2023 (3Q2023), a 421% year-on-year (y-o-y)&nbsp;increase.

Penang saw RM34.6b manufacturing-sector investment inflow in 3Q, says Chow

Hong Leong Industries Bhd (HLI) has sold its investment holding firm HLI Trading Ltd (HLIT) to Guoline International Ltd (GIL) for US$7.78 million (RM36.22 million) in a related-party cash transaction.

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