AirAsia came away a winner at The Edge Billion Ringgit Club 2019 yet again, bagging the award for highest growth in profit after tax over three years for the consumer products & services sector. Sponsored. </div><div class=inPageAd id=div-gpt-ad-inpage>

NEWS: AirAsia shows how it’s done

The political stability currently enjoyed by the country allows the government to implement necessary changes to enhance well-being and revive the national economy, says Datuk Seri Anwar Ibrahim.

Political stability enables necessary changes, key to economic recovery — Anwar

Prime Minister Datuk Seri Anwar Ibrahim on Wednesday held a bilateral meeting with his Timor-Leste counterpart, Xanana Gusmao.

Among the matters discussed during the meeting at the National Convention Centre (NCC) was Timor-Leste's application for full membership in the Asean bloc.

Timor-Leste's Asean membership application discussed in bilateral meeting between Anwar, Xanana

Even with markets rallying for months, the pace of traditional initial public offerings (IPOs) is behind what bankers expected. JPMorgan Chase & Co chief executive officer Jamie Dimon called the lack of deals “odd” before blaming costs and red tape.

Wall Street’s SPAC machine picks up despite ‘odd’ lack of IPOs

A push into metals trading by several giants of the energy markets has spurred a hiring spree and driven up salaries, with some senior executives saying they’ve never seen such a frenzied competition.

Metal trader hiring frenzy sends bonuses soaring

Long after the winds subside and the hard work of rebuilding begins, scientists responsible for predicting hurricanes will continue to replay Hurricane Milton over and over again. They’ll focus on how they failed to predict Milton’s sudden strengthening.

Hurricane Milton has reshaped storm science even before making landfall

Aircraft delivery delays at Boeing Co and its European rival Airbus SE are forcing some carriers to furlough crews and review expansion plans, according to the head of airline industry’s main lobby group.

Aircraft delays force airlines to furlough crew, says IATA head 

BMC Software, a KKR & Co-owned technology provider for businesses, is breaking up into two standalone companies.

KKR-owned BMC to separate into two private software companies

Two right-wing former ministers will go head-to-head to win votes from members of the Conservative Party and become its next leader after making it through to the final round of a contest set to shape the future of Britain's once dominant party.

Two right-wing former ministers left in race to be UK Conservative leader

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

Sapura Resources, HeiTech Padu, Guan Chong, Berjaya Food, Petron, Tropicana, SkyWorld, Kumpulan Kitakon, S P Setia, Ecomate, SWS Capital,  LBS Bina, Solarvest and Atlan 

The main indexes were mixed in choppy trading on Wednesday as investors awaited the minutes of the Federal Reserve's (Fed) latest meeting, while Alphabet shares dipped after the US said it was considering breaking up Google.

Wall Street mixed with Fed minutes, inflation data in focus

(Oct 9):&nbsp;MMC Port Holdings Sdn Bhd is considering an initial public offering (IPO) in Kuala Lumpur that could raise as much as RM7 billion (US$1.6 billion), people familiar with the matter said, which would make it the biggest in Malaysia in more than a decade.

MMC Port said to weigh biggest Malaysian IPO in over a decade — Bloomberg

Shares of Capital A Bhd (KL: CAPITALA), which have gained 46% from its two-year low since its aviation business sale announcement in April, continued to see trading interest days ahead of the shareholders' meeting to approve the deal.

Capital A, AAX shares see continued interest as EGM to approve airline biz deal looms

KUALA LUMPUR (Oct 9): Poultry stocks on Bursa Malaysia fell in active trade on Wednesday, after the government said it was considering removing subsidies for eggs.

Poultry stocks fall as govt considers ending egg subsidy

Fuel retailer Petron Malaysia Refining &amp; Marketing Bhd (KL:PETRONM) said on Wednesday that its Port Dickson refinery in Negeri Sembilan will undergo an eight-week maintenance shutdown for furnace repairs, according to a filing with Bursa Malaysia.

Petron Malaysia shuts down Port Dickson refinery for eight weeks for furnace repairs

Property developer Tropicana Corp Bhd (KL:TROP) has inked an agreement to dispose of 38.527 acres of freehold land in Johor to a data centre company for RM239.99 million, marking its second land sale for such development in the region this year.

Tropicana Corp sells another land in Johor to data centre operator for RM240 mil

Leader Energy Group Bhd, which operates power plants, said on Wednesday it has secured an investment of over US$100 million (RM429 million) from a China-backed private equity fund.

Leader Energy gets over US$100 mil investment from China-backed fund

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

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

EVENING 5: Five things you need to know today

Sapura Resources Bhd (KL:SAPRES) is extending the leave of absence placed on its managing director Datuk Shahriman Shamsuddin for another month, according to sources.

Sapura Resources to extend managing director Shahriman’s leave of absence for another month — sources

<div class="ceonothumb pb-5 imgw-800 mx-auto d-block"><img alt="" src="//assets.theedgemarkets.com/Tan-Soo-Suan-returns_Thumb.jpg" />
<div class="thumb-cap">Tan returns from a hiatus to participate in the charity concert (Photo: Tan Soo Suan)</div>
</div>

Magical 30 is a&nbsp;Malaysian Music...

Soprano Tan Soo Suan returns to the stage in Magical 30

Malaysia is set to transition away from coal power, with coal-fired generation being gradually phased out and no new coal plants in the pipeline, said Deputy Prime Minister Datuk Seri Fadillah Yusof.&nbsp;

Fadillah: No new coal power plants in Malaysia

A court bailiff had on Wednesday failed to implement a writ of seizure and sale granted by the Shah Alam High Court against Datuk Seri Jamal Md Yunos at his Ampang Jaya home over unpaid costs of RM50,000 following Seputeh Member of Parliament Teresa Kok's successful defamation suit against the Umno division leader.

Bailiff fails to execute writ of seizure against Jamal Yunos over unpaid RM50,000 costs in Teresa Kok's defamation suit

The Ministry of Agriculture and Food Security will establish the separation of powers among relevant agencies, and introduce new regulations to strengthen the country's paddy and rice&nbsp;sector.

'Separation of powers' to bolster national rice production — Mat Sabu

KUALA LUMPUR (Oct 9): Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.

FBM KLCI falls 0.04% to 1,634.91 on Oct 9, 2024

Guan Chong Bhd (KL:GCB) is seeking to take up a 25% stake in Ivory Coast-based cocoa manufacturing outfit Transcao Côte d'Ivoire (Transcao CI).

Guan Chong’s unit GB Cocoa Singapore Pte Ltd has inked a Memorandum of Understanding with Transcao CI’s shareholders — Conseil Du Café (CCC) and its subsidiary Transcao Negoce, which underline exclusive negotiation rights for three months.

Guan Chong in exclusive talks to buy 25% stake in Ivory Coast cocoa outfit

Property developer LBS Bina Group Bhd (KL:LBS) has awarded renewable energy company Solarvest Holdings Bhd (KL:SLVEST) a contract to build a 43-MWp solar farm in Senawang, Negeri Sembilan, valued at RM104 million.

LBS Bina awards RM104 mil solar farm construction to Solarvest

SkyWorld Development Bhd (KL:SKYWORLD) and Perbadanan PR1MA Malaysia (PR1MA) has signed a joint development agreement (JDA) to build PR1MA homes in Brickfields, Kuala Lumpur. &nbsp;

SkyWorld partners PR1MA to build 491 units of affordable homes in Brickfields

The progress of the East Coast Rail Link (ECRL) project, which connects the Klang Valley to the East Coast, has reached 72.93% as of September.

Transport Minister Anthony Loke said the encouraging progress achieved was in line with the Dec 2026 completion schedule for the ECRL track from Kota Bharu to the Gombak Integrated Transport Terminal.

He said the rail line from Gombak to Port Klang, meanwhile, is expected to be completed in December 2027.

ECRL project on schedule, 72.93% completed — Loke

Home furniture specialist Ecomate Holdings Bhd (KL:ECOMATE) has proposed to acquire a single-storey factory in Muar, Johor, along with machinery and components, from SWS Capital Bhd (KL:SWSCAP).

Ecomate to acquire factory, machinery in Muar to expand operations

Tesla Inc enjoyed its best-ever quarter for China shipments, as vehicles delivered from its Shanghai factory rose for a third consecutive month.