BRUSSELS/STOCKHOLM/LONDON (Dec 6): European Union ambitions to take a lead in landmark rules for artificial intelligence hang in the balance as member states and lawmakers meet on Wednesday to try to hammer out a deal on biometric surveillance and how to regulate systems like ChatGPT.

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Disputed landmark AI rules face crunch EU talks

A total of 60,000 tonnes of subsidised cooking oil, which are sold in packets, are available each month to low-middle-income families, but not commercial and industrial users.

Frankly Speaking: Cash aid instead of subsidised cooking oil

Malaysia is indeed a blessed country. Its oil and gas (O&G) arm, Petroliam Nasional Bhd (Petronas), has made new oil discoveries amounting to over one billion barrels of oil equivalent (bboe) for this year.

Frankly Speaking: Petronas and our oil reserves

Last week, Serba Dinamik Holdings Bhd, once a stock market darling, said it was unable to release its financial report for the quarter ended Sept 30, 2023, by the prescribed deadline of Nov 30, as required under the Main Market listing requirements of Bursa Malaysia.

Frankly Speaking: More drama at Serba Dinamik

Property developer Maxim Global Bhd’s announcement of a privatisation agreement, under which it will get land parcels in return for undertaking works related to several sewerage treatment plants in the city, has very little useful information.

Frankly Speaking: Perils of limited information

Subject to satisfactory due diligence”, five mobile network operators (MNOs) — CelcomDigi, Maxis, U Mobile, Telekom Malaysia and YTL/Yes — agreed on Dec 1 to each pay around RM233 million for a 14% stake (or RM1.165 billion in total to jointly own 70%) of Digital Nasional Bhd (DNB), which was created 33 months ago in March 2021 to build Malaysia’s 5G single wholesale network (SWN).

Frankly Speaking: Has there been real progress on 5G?

The government’s move to allow international acts such as Coldplay last week, and the upcoming performances by Ed Sheeran and Rod Stewart, should be applauded, and more of such acts should be encouraged to perform here.

Frankly Speaking: Stop politicising international acts

Last week, Pertama Digital Bhd’s share price went on a roller-coaster ride, tumbling 45% from a high of RM4.65 to hit a low of RM2.57 apiece. It closed out the week at RM3.13, with 12.56 million shares traded.

Frankly Speaking: Pertama Digital stock’s wild ride raises eyebrows

Every year, the Auditor-General’s Report showcases the government’s careless mismanagement of funds and resources paid for by taxpayers.

Frankly Speaking: Holding those responsible for public funds accountable

In early December last year, the Securities Commission Malaysia (SC) in a dispute with ACE Holdings Bhd alleged that Apex Securities Sdn Bhd, a wholly-owned unit of Apex Equity Holdings Bhd, had contravened securities laws. The regulator commented that ACE “is not a fit and proper person” to control the stockbroking firm.

Frankly Speaking: SC should shed light for investors’ benefit

Last week, two of Kumpulan Jetson Bhd’s board members resigned barely two months after joining the board, raising questions. Datuk Tengku Ibrahim Farihaddin Feissal stepped down as non-executive chairman after being appointed on Oct 6 to replace Datuk Teh Kian An, who had relinquished his executive chairman post due to health reasons. Co-founder Teh holds a 4.349% direct stake and an indirect stake of 1.695% in the group.

Frankly Speaking: What is brewing at Kumpulan Jetson?

If a company produces too much of a product and finds itself unable to sell them, it will soon be out of business, to the detriment of all along the value chain.

Frankly Speaking: Mismatch of skills in marketplace worsens

YNH Property Bhd said on Nov 6 that its audit committee intended to appoint a professional firm for an independent review of the company’s joint venture and turnkey construction agreements.

Frankly Speaking: Why the lack of urgency?

Last Friday, Crescendo Corp Bhd announced that it would be selling three vacant parcels of land in Pulai, Johor Bahru, for a total of RM315.17 million cash to Microsoft Payments (M) Sdn Bhd. It expects to book a RM171.92 million gain from the disposal.

Frankly Speaking: Crescendo unlocks value

Taiwan's military sent forces to watch a Chinese naval formation, led by the aircraft carrier Shandong, sailing through the Taiwan Strait on Monday, Taiwan's defence ministry said, as Beijing keeps up pressure ahead of elections next month.

Taiwan again reports Chinese carrier group in Taiwan Strait as election looms

Hamas said it was striking back against Israeli forces across Gaza on Monday and Palestinians and international relief agencies said public order was disintegrating as hunger spread, fuelling fears of a mass exodus to Egypt.

Gazans say hunger is causing social breakdown, fuelling fears of exodus into Egypt

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

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

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

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

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

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

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

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

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

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): 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

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

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

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

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

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

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