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

EVENING 5: Five things you need to know today

The Federal Court’s latest ruling on Friday, that the Ang Ming Lee decision should be applied prospectively, is fair and balanced, said senior lawyer Leonard Yeoh, who is familiar with matters related to housing and developers.

Latest apex court decision on Ang Ming Lee case fair and balanced, provides clarity — lawyers

KUALA LUMPUR (July 26): On Nov 26, 2019, the Federal Court, which is Malaysia’s apex court, delivered a judgement to declare Regulation 11(3) of the Housing Development (Control and Licensing) Regulations 1989 as void in Ang Ming Lee & Ors vs Menteri Kesejahteraan Bandar, Perumahan dan Kerajaan Tempatan & Anor and other appeals (AML). The decision of the Federal Court effectively rendered earlier decisions of the Controller of Housing in granting an extension of time to developers to deliver vacant possession as null and void. In Malaysia, a judgement of a court applies retrospectively, meaning that a new interpretation of the law would apply to situations or transactions that occurred before the judgement was delivered. Despite the AML being handed down in November 2019, homebuyers began commencing lawsuits against developers for late delivery of vacant possession, for sale of property as far back as 2013.

Federal Court’s judgement in Ang Ming Lee case relieves developers from retrospective suits

The Federal Court on Friday unanimously decided that the Ang Ming Lee decision made by the apex court in 2019, which has been bugging housing developers over the years despite gaining extension of time (EOT) prior to that landmark ruling, is applicable prospectively and not retrospectively.

Apex court rules Ang Ming Lee housing decision is to be applicable prospectively, not retrospectively

The ‘Mentega Terbang’ filmmakers’ application to refer two constitutional questions on the charges of wounding religious feelings under Section 298 of the Penal Code, will be heard on Oct 24 at the High Court here.

Judge K Muniandy set the date Friday when the matter came up for mention, in the presence of the deputy public prosecutor Abdul Malik Ayob and lawyer Zaid Malek, representing the director and producer of the movie Mohd Khairianwar Jailani and Tan Meng Kheng.

Oct 24 hearing for Mentega Terbang filmmakers' bid to refer constitutional questions

An assistant accountant pleaded not guilty in the Sessions Court here on Friday to 13 charges of misappropriating RM81,585.04 of the Perlis state government’s funds.

Mohd Reimi Ismail, 45, as a public body official holding an assistant accountant position at the Perlis State Treasury Office, is accused of allegedly committing the offences at three different banks between June 2018 and Sept 2019.

Asst accountant charged with misappropriating RM81,585 of Perlis govt funds

HULU SELANGOR (July 26): A police officer was charged in the Kuala Kubu Bharu Magistrate’s Court on Friday with the murder of Nur Farah Kartini Abdullah, whose body was found in an oil palm plantation.

Cop charged with murder of Nur Farah Kartini

KUALA LUMPUR (July 26): The High Court has dismissed former navy chief Tan Sri Ahmad Ramli Mohd Nor’s application to strike out all three of his criminal breach of trust (CBT) charges in connection with the littoral combat ship (LCS) project.

Former naval chief’s application to strike out charges in LSC-related case dismissed

A North Korean military operative has been indicted for his alleged role in hacking American medical providers, Nasa and for using ransomware to extort organisations around the world, US prosecutors said on Thursday.

US charges North Korean with hacking Nasa, halting medical care

The Manhattan prosecutors who secured Donald Trump's historic criminal conviction said the verdict should stand despite the US Supreme Court's ruling that presidents cannot face criminal charges over official acts.

Trump hush money prosecutors say conviction should stand despite immunity ruling

A US judge said on Thursday that he may reverse course on ending Rudy Giuliani's bankruptcy and instead keep Donald Trump's former lawyer under Chapter 11 supervision until he pays about US$350,000 (RM1.63 million) in fees owed to his creditors.

Trump's former lawyer Giuliani remains in bankruptcy limbo over unpaid fees

The federal government has filed an appeal at the country’s apex court to stop the Sabah Law Society’s (SLS) bid to seek a judicial review of the state’s 40% revenue grant.

AG turns to top court in bid to block SLS’ challenge over Sabah’s 40% revenue rights

KUALA LUMPUR (July 25): Come Friday (July 26), the Federal Court will deliver an important decision which would affect homebuyers and developers alike, on whether the decision made by the apex court in the Ang Ming Lee and Another vs the Housing and Local Government Ministry and the Controller of Housing case has a retrospective effect or otherwise.

Vital housing decision tomorrow on whether ruling in Ang Ming Lee case has retrospective effect

SEPANG (July 25): The Sepang Sessions Court has scheduled Aug 28, 2024 for the submission of documents in the case of a travel agency manager accused of attempting to murder his wife and inflicting severe injuries on her bodyguard.

Documents submission for KLIA attempted murder case set for Aug 28, 2024

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Premier: Sarawak expects to ink S&P on Affin Bank deal in a month

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Treasuries rally as data points to a September rate cut

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce & Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.

Miami condo tower moves on from brokers facing rape allegations

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Deputy PM Fadillah pays courtesy visit to Vietnamese PM, strengthens bilateral cooperation

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Wall Street rebounds on tech recovery, small caps jump after benign inflation data

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

Malaysia urges Asean dialogue partners to support ceasefire in Gaza

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

US charges Citron's Andrew Left over alleged multi-million fraud scheme

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Malaysia steps up efforts to finalise South China Sea code of conduct

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

AirAsia X, Capital A, Hibiscus, Dagang NeXchange, ViTrox, Ekovest, Knusford, Alam Maritim, Datasonic, Kumpulan Kitacon, DXN, Homeritz, Westport, MGRC 

VIENTIANE (July 26): The Asean Post Ministerial Conference kicked off in the Laos capital here on Friday, as Asean foreign ministers engaged with top diplomats from dialogue partners to discuss various regional and international issues of common interest.

Asean Post Ministerial Conference kicks off in Laos; regional, global issues in focus

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

Ekovest Bhd (KL:EKOVEST) said it has agreed to a further extension of time to discuss a merger between its wholly owned subsidiary Ekovest Construction Sdn Bhd (ECSB) and Knusford Bhd (KL:KNUSFOR).

Ekovest agrees to six-month extension for merger discussion between subsidiary and Knusford

US prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services, underscoring an improving inflation environment that could position the Federal Reserve to begin cutting interest rates in September.

US inflation rises moderately, consumer spending cools

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

The prestigious five-star Lexis Hibiscus 2 luxury resort is currently under construction by the KL Metro Group and is expected to be completed by 2029, said Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.

Construction of RM1.6 bil GDV Lexis Hibiscus 2 resort will be completed in 2029

Practice Note 17 (PN17) company Alam Maritim Resources Bhd (KL:ALAM) has announced its regularisation plan, which includes a share capital reduction of RM440 million, 10-to-one share consolidation, an issuance of renounceable rights shares with warrants and a scheme of arrangement with its creditors.

Alam Maritim submits regularisation plan to exit PN17 status

Health and wellness direct selling company DXN Holdings Bhd (KL:DXN) said on Friday its net profit rose 10.26% in the first quarter from a year earlier due to higher revenue recognised from overall operating segments.&nbsp;

DXN Holdings 1Q net profit up 10.26%, targets market presence in Zambia, Ghana  

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Upholstery furniture products manufacturer Homeritz Corp Bhd’s (KL:HOMERIZ) net profit surged 46.37% in the third quarter from a year earlier, thanks to higher sales volume and stronger US dollar. &nbsp;

Net profit for three months ended May 31, 2024 (3QFY2024) climbed to RM9.09 million or earnings per share of 1.96 sen, from RM6.21 million or 1.34 sen per share recorded in 3QFY2023. &nbsp;

Homeritz’s 3Q net profit soars 46.37% on higher sales and strong greenback

Cyberview Sdn Bhd has signed three Memoranda of Understanding (MOUs) with three companies to make Cyberjaya a global technology hub.

Chief executive officer Kamarul Ariffin Abdul Samad said the companies involved were Permodalan Negeri Selangor Bhd (PNSB), Selangor Information Technology &amp; Digital Economy Corporation (SIDEC) and digital infrastructure company Equinix Malaysia.

Cyberview signs three MOUs to make Cyberjaya a global technology hub

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce &amp; Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.&nbsp;

KUCHING (July 26): Türkiye is committed to expanding&nbsp;its bilateral partnership with Malaysia and&nbsp;seeking to explore collaborations in high-tech and green energy industries in Sarawak, said Turkish Ambassador to&nbsp;Malaysia Emir&nbsp;Salim Yuksel.&nbsp;

Türkiye seeks collab with Sarawak on high-tech, green energy — Turkish Ambassador

Biopharmaceutical company Malaysian Genomics Resource Centre Bhd (KL:MGRC) has proposed to undertake a private placement that is expected to raise up to RM4.98 million.

MGRC plans private placement to raise up to RM4.98 mil

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

Kumpulan Kitacon bags RM54.5m job to build houses in Rawang

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

KOTA TINGGI (July 26): The Ministry of Rural and Regional Development has rebranded the hardcore poor housing programme (PPRT) to&nbsp;Program Perumahan Rakyat Sejahtera&nbsp;(PPRS), aimed at changing the perception and mindset of its&nbsp;community.

Zahid: Hardcore poor housing programme rebranded as Program Perumahan Rakyat Sejahtera

Penang Port Sdn Bhd (Penang Port) on Friday announced the acquisition of five Kalmar container handling machines to optimise operations and improve service levels.

Court

‌‌

‌
‌