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UPSTART: Putting An (Affordable) Ring on It

Malaysia’s industrial production index (IPI) in October 2024 saw its slowest annual growth in 10 months, prompting MIDF Research to revise its full-year forecast downward to 3.4% for 2024, from the earlier projection of 4.2%. The revision reflects a moderate recovery in external demand and a larger-than-expected drag from weak mining output on the overall IPI performance.

MIDF revises down IPI forecast to 3.4% for 2024 as index hits 10-month low in October

Wan Nadiah Wan Abdullah Yaakob confirmed on Tuesday that she has been dismissed as the group chief executive officer (CEO) of TMC Life Sciences Bhd (KL:TMCLIFE) over alleged misconduct, adding that she will appeal the decision.

Wan Nadiah says she will appeal following her dismissal as TMC Life Sciences CEO

Stellantis and Chinese battery maker CATL will invest €4.1 billion (US$4.33 billion or RM19.14 billion) to build one of Europe's largest electric vehicle (EV) battery factories in Spain, they said on Tuesday.

Stellantis, China's CATL to invest US$4.33b in EV battery factory in Spain

NEWS: SkyWorld inks deal for country’s largest affordable housing project

Talabat Holding plc’s shares lost ground after the food delivery firm’s US$2 billion (RM8.84 billion) initial public offering (IPO) in Dubai, adding to a slate of recent disappointing debuts for listings in the Middle East.

The Delivery Hero SE unit closed 6.9% lower at 1.49 dirhams (RM1.79) after rallying as much as 7.5% earlier on Tuesday.

Talabat drops in Dubai debut after Gulf’s biggest 2024 IPO

Rising palm oil imports, combined with recovering Indonesian output and a sharp drop in exports, may signal demand rationing, according to agricultural commodity advisory firm Glenauk Economics.

Rising palm oil imports, recovering Indonesian output, sharp drop in exports may signal demand rationing — Glenauk Economics

Telecommunications network services provider OCK Group Bhd (KL:OCK) is expanding its renewable energy portfolio with a proposed RM350 million investment in a large-scale solar photovoltaic (LSSPV) power plant in Malaysia through Solarpack Suria Sungai Petani Sdn Bhd (3SP).

OCK Group ventures into large-scale solar with RM350 mil investment  

Brazil’s President Luiz Inacio Lula da Silva is awake and conscious after undergoing emergency brain surgery in Sao Paulo.

Lula will stay in the intensive care unit (ICU) for 48 hours as a precaution, and should return to Brasilia early next week, Doctor Roberto Kalil said at a presser on Tuesday.

Brazil’s Lula awake, conscious after brain surgery

Police are still investigating former Goldman Sachs officer Roger Ng Chong Hwa regarding the 1Malaysia Development Bhd (1MDB) scandal, and are studying several related documents.

IGP: Police still investigating ex-Goldman banker Roger Ng

Prime Minister Justin Trudeau said Canada “will respond” if US President-elect Donald Trump imposes new tariffs on Canadian imports, and argued that retaliatory tariffs were successful when Trump put tariffs on Canadian steel and aluminium in 2018.

Trudeau says Canada ‘will respond’ if Trump imposes tariffs

KUALA LUMPUR (Dec 10): Salaries in Malaysia are projected to increase by 5% across all industries in 2025, and close to a quarter of companies plan to raise headcount next year, a survey showed.

Salaries in Malaysia to rise 5% across all industries in 2025, survey shows

Southeast Asia's second-largest bank&nbsp;Oversea-Chinese Banking Corp (OCBC) and fifth-largest CIMB&nbsp;Group Holdings Bhd (KL:CIMB) are vying for a controlling stake in Bank Pan Indonesia (Panin Bank), three people with knowledge of the matter said.

CIMB and OCBC vying for controlling stake in Indonesia's Panin Bank, Maybank working on potential bid — Reuters

SkyWorld Development Bhd (KL:SKYWLD) said on Tuesday that it has signed an agreement with the Penang state agencies to jointly develop the country's largest affordable housing project that is valued at RM13 billion. &nbsp;

Skyworld signs agreement to develop Malaysia's largest affordable housing project in Penang

Gamuda Bhd (KL:GAMUDA) is acquiring a 20% stake in Cloud Space Sdn Bhd, a Google Cloud premier partner, for RM18 million. It is also teaming up with Dagang NeXchange Bhd (KL:DNEX) to provide on-premises Google Cloud services to Malaysian businesses and government agencies.

Gamuda takes up 20% stake in Google Cloud partner, teams up with DNeX to provide Google Cloud services

Prime Minister Datuk Seri Anwar Ibrahim Anwar on Tuesday declined to comment on a purported royal addendum decreeing house arrest for jailed Datuk Seri Najib Razak.

Anwar skirts query on purported royal addendum for Najib, says fresh proposal forwarded to current Agong

ALTHOUGH MBI — the multimillion-ringgit pyramid scheme that attracted hundreds of investors from as far as China — collapsed in 2018, it continues to cast a pall over several prime property projects in Penang.

One of them is Penang Times Square, which was developed by Ivory Properties G...

MBI thwarts Ivory Properties’ plan to revive Penang Times Square project 

NEWLY backed by Sarawak as its largest shareholder, Affin Bank Bhd (KL:AFFIN) — the second smallest of the country’s eight banking groups by assets — is seeking opportunities to grow bigger via acquisitions.

Sources say the bank is already on the hunt for opportunities to acquire comple...

Affin Bank said to be on the hunt for M&A opportunities

Automotive lighting product manufacturer JHM Consolidation Bhd (KL:JHM) said its 52%-owned subsidiary JHM Dekai Auto Lighting Sdn Bhd has bagged contracts worth RM300 million from Perusahaan Otomobil Nasional Sdn Bhd (Proton) to supply parts for specific Proton car models.

JHM bags contracts worth RM300m from Proton

Malaysia's palm oil stockpiles slipped in November for a second consecutive month, as production dropped more than expected to its lowest level for the month in four years, according to the country's industry regulator on Tuesday.

MPOB: Malaysian palm oil inventories drop as November output hits four-year low

IJM Land Bhd announced a 60% take-up for its ViO Banj’ran bungalow homes in its Seremban 2 township in Negeri Sembilan. The RM183 million bungalows are expected to be completed in the first quarter of 2026.

IJM Land announces 60% take-up for ViO Banj’ran bungalows in Seremban 2

MN Holdings Bhd (KL:MNHLDG) said on Tuesday it was awarded a contract worth RM162.59 million to build a high-voltage main switching station for a data centre project in Malaysia.

MN Holdings gets RM162.6m contract to build switching station

KUALA LUMPUR (Dec 10): Prime Minister Datuk Seri Anwar Ibrahim said the government will cancel commitments to “one or two” drugmakers, while shifting to generic drugs, as part of efforts to address medical inflation.

Anwar on Tuesday acknowledged that the country’s drug costs have been ...

Medical inflation: Govt to revoke commitments to ‘one or two’ drugmakers, shift to generic drugs, says PM

KUALA LUMPUR (Dec 10): Shares of Gamuda Bhd (KL:GAMUDA) still have strong upside in the next 12 months, RHB Investment Bank (RHB IB) said on Tuesday, flagging strong earnings and more job wins ahead.

Gamuda still has strong upside ahead, RHB IB says in raising consensus-topping target

PUTRAJAYA (Dec 10): The Court of Appeal (COA) was informed on Tuesday over possible settlement talks between 1Malaysia Development Bhd (1MDB), the 1MDB task force, and JPMorgan (Switzerland) Ltd over 1MDB’s US$800 million suit against the financial institution.

Appellate court informed of settlement talks between JPMorgan and 1MDB

Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor has been acquitted of sedition against the Sultan of Selangor and discharged by the Shah Alam High Court.

Sanusi acquitted of sedition against Selangor Sultan, but trial for remarks against former Agong will go on

KUALA LUMPUR (Dec 10): The classification of the top 15% income group, which will be excluded from the proposed targeted RON95 petrol subsidy, is expected to be announced by the first quarter of 2025, Economy Minister Rafizi Ramli said.

T15 income group classification for RON95 subsidy to be announced by 1Q 2025 — Rafizi

Malaysia’s industrial activity decelerated and expanded at a slower-than-expected pace in October this year, as factory production and electricity generation grew, while mining output contracted, official data on Tuesday showed.

Malaysia’s industrial activity decelerates, grows slower than expected in October 2024 — DOSM

KUALA LUMPUR (Dec 10): China-based telecoms equipment giant ZTE Corporation is set to invest RM200 million in Malaysia to establish two innovation centres and introduce the latest 5G technology through collaborations with local operators.&nbsp;

China-based ZTE to invest RM200m in Malaysia for development of innovation centres

Former prime minister Tun Dr Mahathir Mohamad said the Royal Commission of Inquiry (RCI) into Batu Puteh was politically motivated, and welcomed a criminal investigation against him as an opportunity to clear his name.

Tun M says Batu Puteh royal inquiry politically motivated, welcomes criminal probe to clear his name

Feytech Holdings Bhd (KL:FEYTECH) on Tuesday said it is partnering a Chinese state-owned firm to design and manufacture automotive seats catering to Chery vehicles in Malaysia and abroad.