Denis Machuel, CEO of Sodexo, discusses the company's sustainability efforts.</div><div class=inPageAd id=div-gpt-ad-inpage>

Sodexo CEO: We're committed to halving food waste by 2025

China Vanke CEO Zhu Jiusheng was detained by public security authorities on Wednesday and a Shenzhen government task force has stepped in to oversee the property developer's operation, state media The Economic Observer reported on Thursday.

China Vanke's CEO detained by authorities, state media reports

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

Alliance Bank, Hextar Industries, Jati Tinggi, Ancom Nylex, Sarawak Oil Palms, Sedania, Tanco, Silver Ridge

Prime Minister Datuk Seri Anwar Ibrahim on Thursday visited the Battersea Power Station, which is Malaysia's largest investment involving public funds in Europe.

Anwar, who is here on a five-day working visit to the UK, was received upon arrival by Tan Sri Shahril Ridza Ridzuan, chairman of Battersea Project Holding Company Ltd, and Permodalan Nasional Bhd (PNB) president and group chief executive Datuk Abdul Rahman Ahmad.

Anwar pays a visit to iconic Battersea Power Station

A witness in the sexual harassment trial involving preacher Ebit Irawan Ibrahim Lew, or Ebit Lew, told the Magistrate's Court here that the WhatsApp messages exchanged between the complainant and the preacher had been deleted and could not be retrieved.

WhatsApp messages between complainant and Ebit Lew deleted, irretrievable, says witness

Malaysia’s RM4 trillion equity and debt capital market is well-positioned to support the country’s growth, enabling businesses and investors to leverage and benefit from emerging opportunities, Bursa Malaysia Bhd chairman Tan Sri Abdul Wahid Omar said on Thursday.

Malaysia’s RM4 tril capital market propels growth for businesses, investors — Wahid Omar

Singapore-based steel firm Green Esteel Pte Ltd has emerged as Southern Steel Bhd's (KL:SSTEEL) new controlling shareholder with a 50.1% stake in the company.

Singapore's Green Esteel emerges as Southern Steel's new controlling shareholder

Irish budget airline Ryanair said on Thursday it would cut flights at seven regional airports in Spain this summer due to what it called "excessive fees" levied by state-controlled airport operator Aena.

The airline will stop operating in the cities of Jerez and Valladolid and will reduce the number of flights to and from Vigo, Santiago de Compostela, Zaragoza, Santander and the airport of Asturias.

High airport fees forcing Ryanair to slash summer flights in Spain

Wall Street's main indexes took a pause on Thursday following strong gains in the previous session, helped by a batch of bumper earnings from major banks, while investors assessed data to gauge the outlook for interest rate cuts this year.

Wall Street subdued after strong session; focus on earnings

Israel airstrikes killed at least 77 people in Gaza overnight on Thursday, residents and authorities in the enclave said, hours after a ceasefire and hostage release deal was announced to bring an end to 15 months of war between Israel and Hamas.

Death toll in Israeli strikes on Gaza rises to 77 since ceasefire deal, residents say

UnitedHealth Group Inc shares fell after elevated medical costs persisted in the fourth quarter (4Q) and revenue missed estimates.

The stock fell as much as 3% at the New York market open on Thursday, and other insurers including Elevance Health Inc and Humana Inc also declined.

UnitedHealth patient care costs, revenue disappoint street

Regional airline SKS Airways Sdn Bhd, recently renamed True Air Sdn Bhd, has announced that it will discontinue its operations — the second homegrown airline to have ceased operations post the Covid-19 pandemic. Budget carrier MYAirline Sdn Bhd had suspended its operations in October 2023 due to financial pressures.

SKS Airways ceases operations after two years

The potential implementation of export limitations by the US government on artificial intelligence (AI) chips is not expected to impact the operations of existing data centres in Malaysia, according to deputy minister of investment, trade and industry (Miti) Liew Chin Tong.

Malaysia's data centres unaffected by US AI chip export restrictions, says deputy Miti minister

Hextar Industries Bhd (KL:HEXIND) announced the soft opening of five Luckin Coffee outlets by the end of January 2025.

Hextar Industries to open five Luckin Coffee outlets by end of January

Petroliam Nasional Bhd (Petronas) appears to have retained the lucrative natural gas exports business, while Sarawak will control the domestic gas aggregation in the state, Kenanga Investment Bank said.

Petronas' spending cuts likely less than feared as S'wak gas exports business intact, says Kenanga as O&G services stocks rally

The Domestic Trade and Cost of Living Ministry (KPDN), through the Companies Commission of Malaysia (SSM), has introduced three criteria for the exemption of financial statement audits for companies, effective Jan 1.

SSM unveils three new criteria for private companies’ audit exemption 

The government has announced enhancements to the Corporate Renewable Energy Supply Scheme (CRESS), opening third-party electricity grid access to existing power consumers and maintaining system access charges (SAC) at current rates for three years.

Grid third-party access open to existing power consumers, wheeling charges maintained until 2027 — Energy Ministry

Xiaohongshu’s biggest shareholders are in talks to sell shares in the Chinese Instagram-like service at a valuation of at least US$20 billion (RM90 billion), drawing interest from Tencent Holdings Ltd and other big names as a potential TikTok US ban approaches.

Xiaohongshu stake sale talks value TikTok rival at US$20b

HSBC Holdings Plc is set to buck an industry-wide trend of higher banker bonuses as it gears up for a multibillion-dollar cost reduction from an ongoing restructuring.

HSBC warns of bonus cuts as cost of restructuring looms

Universiti Utara Malaysia lecturer Dr Kamarul Zaman Yusoff told the High Court on Thursday that he is aware that the book, Becoming Hannah: A Personal Journey&nbsp;by Youth and Sports Minister Hannah Yeoh, has been vetted by the National Library of Malaysia and is not categorised as a religious book.

Kamarul Zaman said this when questioned by lawyer Sangeet Kaur Deo, representing Hannah, at the trial of a defamation suit filed by the minister over two Facebook posts he made in May 2017.

'Becoming Hannah' vetted by National Library, not a religious book — court heard

Former prime minister Datuk Seri Najib Razak said that he wished former 1Malaysia Development Bhd (1MDB) chairman Tan Sri Mohd Bakke Salleh had seen him in person before his resignation from the strategic development firm.

1MDB-Tanore: Najib regrets Bakke didn't meet him personally before resignation

The construction sector is expected to see another decent year in 2025, after domestic contract awards hit a new record last year,&nbsp;according to Hong Leong Investment Bank (HLIB) Research.

Construction to see another decent year after record domestic contracts in 2024 — HLIB

An initial investigation by the Negeri Sembilan Land and Mines Office (PTG) in collaboration with the State Department of Minerals and Geoscience (JMG) found no evidence of gold in the river area in Lenggeng, where gold mining activities were reportedly taking place.

N Sembilan Land and Mines Office discovers no gold in Lenggeng

Sime Darby Property Bhd (KL:SIMEPROP) is joining hands with Singapore-based YCH Group, a supply chain solutions outfit, to develop logistics hubs in Malaysia, Vietnam and other Asean markets.

Sime Darby Property to partner Singapore's YCH Group to develop logistics hubs in SEA

Malaysia’s property market has entered an upcycle, driven by rising business and consumer confidence, according to the Real Estate and Housing Developers' Association (Rehda) Institute chairman Datuk Jeffrey Ng Tiong Lip.

Property market now on upcycle, says Rehda Institute chairman

Despite a strong 2024 for the Malaysian property market, sentiments remained mixed with concerns about living costs, purchasing power and global economic uncertainties, according to Rahim &amp; Co International Property Consultants Sdn Bhd at the launch of Rahim &amp; Co Research Sdn Bhd’s Property Market Review 2024/2025 on Thursday.

Rahim & Co: Steady growth amid cautious sentiment for Malaysian property sector in 2025

Arul Kanda Kandasamy told the court on Thursday that he never inquired about why 1Malaysia Development Bhd (1MDB) had terminated two auditors — Ernst &amp; Young (EY) and KPMG — prior to his appointment as the company's chief executive officer.

Arul Kanda says he never questioned why 1MDB terminated EY and KPMG as auditors

Property developer Tanco Holdings Bhd, whose share price surged to a 27-year high of RM2.13 on Thursday, has proposed a bonus issue of up to 3.85 billion new shares — on the basis of seven bonus shares for every five Tanco shares held — to reward shareholders.

Tanco plans 7-for-5 bonus issue as share price hits 27-year high

A summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.

FBM KLCI down 0.42% to 1,555.54 on Jan 16, 2025

KUALA LUMPUR (Jan 16): Sarawak Oil Palms Bhd (KL:SOP) is targeting a revenue&nbsp;of RMB 2.4 million (RM1.5 million) as its flagship product, AvantHealth Avtriee Tocotrienols, makes its debut&nbsp;in the Chinese market.

Sarawak Oil Palms eyes RM1.5 mil revenue with AvantHealth product’s debut in China

Chinese officials and automakers are eyeing German factories slated for closure and are particularly interested in Volkswagen's sites, a person with knowledge of Chinese government thinking told Reuters.