KUALA LUMPUR (Dec 3): The Inland Revenue Board (IRB) has granted a non-interest bearing loan of RM100 million to its subsidiary Yayasan LHDN, without any proper agreement inked between the two parties, according to the 2017 Auditor-General Report.

“The financing was granted with the con...

A-G's Report: IRB granted RM100m financing without agreement

KUALA LUMPUR (Dec 3): The 2017 Auditor-General’s report has issued an unmodified opinion with an emphasis of matter (EOM) to the Federal Land Development Authority (Felda), in relation to the agency’s financial performance and cash flow management.

This is the third year in a row that t...

A-G highlights Felda's cashflow management issues, financials

KUALA LUMPUR (Dec 3): The 2017 Auditor-General (AG) report has highlighted that the pilgrim’s fund had failed to record an impairment totalling RM227.81 million from its investments in several subsidiaries and associates.

The report also pointed out that the setting of LTH’s asset impai...

Tabung Haji failed to report RM227.81m impairment in 2017 — AG report

KUALA LUMPUR (Dec 3): The Public Accounts Comittee (PAC) will call up two ministries over possible misappropriations in the second half of last year, said PAC chairman Datuk Seri Ronald Kiandee.  

This is based on the findings provided in the 2017 Auditor-General’s Report (Series T...

Transport, sports ministries in PAC’s sights over possible discrepancies

KUALA LUMPUR (Aug 6): More than 90% of the loans raised by the federal government in 2017 to finance its development expenditure have to bear high borrowing costs.

The Auditor-General's (A-G's) Report for the fiscal year ended Dec 31, 2017 showed that the actual development expenditure ...

A-G: Over 90% of govt's loans to finance development projects have high borrowing costs

Pakatan Harapan (PH) component parties must respect the coalition's decision to hand the Bemban state seat to a Bersatu candidate in the Melaka state election, says PH election director Datuk Seri Amirudin Shari.

Melaka polls: PH component parties must respect decision on Bemban seat allocation — Amirudin

The extension of the West Coast Expressway (WCE) from Banting, Selangor, to Masjid Tanah was among the matters discussed by the Cabinet, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

WCE expected to be extended from Banting to Masjid Tanah — Ahmad Zahid

Wall Street's main stock indices advanced on Tuesday as optimism around the artificial intelligence (AI) trade persisted ahead of a raft of key corporate earnings, while easing oil prices also supported risk appetite heading into the Federal Reserve's policy decision this week.

Wall St rises as AI momentum holds heading into key earnings, Fed decision

Discussions between Melaka Barisan Nasional (BN) chairman Datuk Seri Ab Rauf Yusoh and MCA president Datuk Seri Dr Wee Ka Siong is believed to have successfully resolved several deadlocks regarding seat distribution for the Melaka state election (PRN) next month.

Several deadlocks in seat distribution with MCA resolved — AB Rauf

JetBlue Airways Corp reassured Wall Street that it’ll be profitable next year, as the debt-laden carrier seeks to overcome persistent losses and high oil prices to prevent a deeper restructuring.

JetBlue shares soar after it vows to return to profitability

A Brazilian Supreme Court justice ordered federal police to open a probe into possible illegal foreign financing of defeated candidate Flávio Bolsonaro’s presidential campaign, including by a group linked to US Vice President JD Vance.

Brazil probes foreign financing, including group linked to Vance

Israelis surged to the polls on Tuesday at a pace that shattered records, to pass wartime judgment on Prime Minister Benjamin Netanyahu in what voters described as the most consequential election in the nation's history.

Israelis shatter turnout records to pass wartime judgment on Netanyahu

Asean Special Envoy to Myanmar Maria Theresa Lazaro is expected to visit Naypyidaw, Myanmar from Oct 28 to 29 to seek progress on efforts by the country to address its political crisis ahead of the 49th Asean Summit.

Asean special envoy to visit Myanmar ahead of summit 

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

Zetrix AI, AirAsia, CIMB, SD Guthrie, Nestle Malaysia, LPI Capital, Dufu Technology, Eco-Shop, Tenaga Nasional, Matrix Concepts, AME Elite, Ni Hsin, HB Global, Infomina, Bintai Kinden, Paragon Globe

Dufu Technology Corp Bhd (KL:DUFU) reported its highest quarterly net profit in four years driven by stronger hard disk drive (HDD) component sales and a fair value gain of  RM2.8 million from investments in listed shares.

Dufu posts highest quarterly profit in four years on stronger sales, fair value gain

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

Malaysia’s swelling palm oil inventories are straining storage capacity in the country’s top-producing state, as a bumper harvest piles pressure on the government to clear excess supplies.

Malaysian palm oil glut swamps storage in top producer Sarawak

The government has approved a requirement for data centres to use at least 30% renewable energy, Deputy Prime Minister Datuk Seri Fadillah Yusof said on Tuesday.

Data centres to be required to source at least 30% renewable energy — Fadillah

A group of Kuala Lumpur residents has gone to the court to challenge a 66-year-old law that allows the government to take over private land, including for projects by private companies.

Kuala Lumpur residents' group files court challenge against 1960 law on compulsory land acquisition

Paragon Globe Bhd (KL:PGLOBE) on Tuesday received shareholders’ approval for its proposed sale of 65 acres of land in Iskandar Puteri, Johor, to a unit of Singapore-based DayOne Data Centers Ltd for RM398.11 million.

Paragon Globe gets shareholders’ nod for RM398m Johor land sale to data centre firm DayOne

YNH Property Bhd (KL:YNHPROP) said the Inland Revenue Board (IRB) will withdraw a winding-up petition against its wholly-owned subsidiary after it reached a settlement on outstanding tax liabilities.

YNH Property says IRB to withdraw winding-up petition following settlement on tax liabilities

Dufu Technology Corp Bhd (KL:DUFU) reported its highest quarterly net profit in four years driven by stronger hard disk drive (HDD) component sales and a fair value gain of &nbsp;RM2.8 million from investments in listed shares.

Tenaga Nasional Bhd (KL:TENAGA) has issued RM4.8 billion in Islamic medium-term notes under its RM10 billion sustainability sukuk wakalah programme to finance or refinance eligible transition projects as part of its sustainability goals.

Tenaga Nasional issues another RM4.8 bil sukuk to fund transition projects

Intel Corp&nbsp;agreed to buy Israeli start-up Classiq Technologies Ltd&nbsp;as part of a push to capitalise on quantum computing, a still-nascent field that is seeking commercial applications.

Intel said to buy quantum start-up Classiq for about US$2.3 bil

Sandisk Corp, Micron Technology Inc, Seagate Technology Holdings plc and Western Digital Corp were among the stock market’s biggest winners in the first six months of the year as demand from the artificial intelligence (AI) build out seemed insatiable.

Memory stocks lost their shine despite strong earnings 

A Brazilian Supreme Court justice ordered federal police to open a probe into possible illegal foreign financing of defeated candidate Flávio Bolsonaro’s presidential campaign, including by a group linked to US Vice President JD Vance.

The government is determined to take stern action against the masterminds and syndicates behind foreign migrant smuggling, as well as any parties protecting or complicit with them, following the death of a Malaysian Maritime Enforcement Agency (MMEA) personnel while on duty.

Govt to take firm action against syndicates behind foreign migrant smuggling, says Anwar

Technology solutions provider Infomina Bhd (KL:INFOM) has secured a RM32.11 million contract from the Home Ministry to provide maintenance and technical support services for the National Registration Department's (JPN) core application systems.

Infomina secures RM32.1 mil Home Ministry contract for JPN systems maintenance

AME Elite Consortium Bhd (KL:AME) has secured a RM120 million contract to build a manufacturing and testing facility in Nilai, Negeri Sembilan, for sustainable cooling solutions provider Baltimore Aircoil Co (BAC).

AME Elite bags RM120 mil contract to build BAC’s Nilai manufacturing facility

Engineering services group Bintai Kinden Corp Bhd (KL:BINTAI) has secured a RM20.28 million contract from Tenaga Nasional Bhd (KL:TENAGA) for power infrastructure works in Pahang, marking its second contract win from the utility giant since exiting Practice Note 17 (PN17) status in February.

Bintai Kinden bags RM20 mil Tenaga contract in Pahang, second since PN17 exit

Wall Street's main stock indices advanced on Tuesday as optimism around the artificial intelligence (AI) trade persisted ahead of a raft of key corporate earnings, while easing oil prices also supported risk appetite heading into the Federal Reserve's policy decision this week.

The initiative to expand electricity bill protection threshold for domestic customers&nbsp;until December 2026 will not affect Tenaga Nasional Bhd’s (KL:TENAGA) ability to fulfil its dividend payment&nbsp;commitment&nbsp;to shareholders.

Electricity bill protection expansion will not affect Tenaga dividend payout, says Fadillah

Anthropic PBC set itself a challenge by opening its books to prospective initial public offering (IPO) investors right after a punishing week for the artificial intelligence (AI) trade. When Wall Street took a close look, it generally liked what it saw.

Anthropic IPO filing calms nerves with signs of healthy growth

Unsecured creditors do not have an automatic right to be heard in the court-supervised rehabilitation of troubled companies, the Federal Court ruled on Tuesday.&nbsp;

Unsecured creditors have no automatic right to be heard in judicial management proceedings, apex court rules  

The government is studying a proposal to introduce a phased implementation of the automatic fuel adjustment (AFA) mechanism beginning in 2027 to ensure that electricity bill protection is fairer and better targeted according to consumer categories.

AG's Report 2017

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AG's Report 2017

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