KUALA LUMPUR (Nov 22): A total of RM681.71 million in public funds were identified as losses in six programmes involving the activities of federal government ministries and departments, as well as federal statutory bodies, as reported by the Auditor General’s Report 2023 (AG’s Report 2023).

Over RM681 mil of public fund losses across six federal programmes

Malaysia’s National Trust Fund (KWAN), which made up 68.7% of the federal government investment position, grew 4.2% year-on-year (y-o-y) to RM14.47 billion in 2022, from RM13.89 billion.

National trust fund grew 4.2% y-o-y to RM14.47b in 2022, says Auditor General's Report

Government auditors have flagged a material uncertainty on the ability of five subsidiaries of Pertubuhan Berita Nasional Malaysia (Bernama) to continue as a going concern, which resulted in the national news agency itself getting its second consecutive qualified opinion from the auditors on its financial statements for the year ended Dec 31, 2021 (FY2021).

AG raises going-concern doubts over five Bernama subsidiaries

The federal government has written off RM4.6 billion in loans in 2022, up from RM701.5 million in 2021, said the Auditor General’s Report on federal government financial statement 2022.

Putrajaya records loan write-off of RM4.6 bil in 2022, says Auditor General’s Report

As much as RM58.57 million in losses were incurred when Universiti Teknologi MARA (UiTM) delayed initiating the compensation claim process against scholarship holders who breached their contracts, the Auditor General's Report 2023 revealed.

UiTM faces RM59 mil losses due to delayed compensation claims against scholarship holders

The Auditor General's Report for 2022 has revealed that weaknesses in recording, monitoring, and enforcement have caused the Railway Assets Corp (RAC) to incur losses of RM12.84 million in rental revenue.

Weakness in recording, monitoring and enforcement cost Railway Assets Corp RM13 mil in rental revenue

KUALA LUMPUR (Oct 10): Urusharta Jamaah Sdn Bhd (UJSB), the special purpose vehicle (SPV) tasked to acquire underperforming assets of Lembaga Tabung Haji (TH) as a means to revive the pilgrim fund, redeemed RM200 million worth of sukuk in January this year.

Urusharta Jamaah redeemed RM200 mil of sukuk in January, says Auditor General’s report

Putrajaya spent a total of RM62.11 billion in subsidies last year, according to the Auditor General’s Report on the federal government’s 2022 financial statement.

The bulk or RM55.443 billion in subsidies were charged to the federal government’s operating expenditure (opex), while part of the subsidy spending for petroleum products and cooking oil amounting to RM6.67 billion were charged to the Covid-19 Trust Fund.

Malaysia’s subsidies in 2022 total RM62b — nearly five times more than in 2021

1Malaysia Development Bhd’s Assets Recovery Trust Account balance stood at RM1.927 billion at end-2022, down 87.4% from RM15.281 billion in 2021, according to the Auditor General's report on the federal government financial statement for the year 2022.

1MDB's Assets Recovery Trust Account balance at end-2022 falls 87% to RM1.9b

Options markets are anticipating few fireworks in 10-year Treasury trading even as the benchmark yield has risen steadily this year to 5%, underscoring the role of strong US economic growth in driving rates higher and tamping down volatility.

US rate options signal market can absorb higher Treasury yields

Chinese Foreign Minister Wang Yi on Thursday told US Secretary of State Marco Rubio in a phone call that the two countries "should prepare well for the next stage of high-level interactions in the spirit of equality, respect and reciprocity," Wang's ministry said.

China, US top diplomats discuss 'high-level interactions' in call, Beijing says

The US Securities and Exchange Commission on Thursday unveiled its long-awaited exemption that will allow companies to offer trading in blockchain-based or "tokenized" stocks and other securities, in a major move that could integrate digital assets more deeply into traditional markets.

The agency is offering a five-year exemption to platforms that facilitate trading of tokenized stocks — digital tokens that represent a stock and can be traded on a blockchain similar to a cryptocurrency — from many of the rules that apply to the Nasdaq, NYSE and other stock exchanges.

US securities regulator rolls out five-year exemption for tokenized stock trading

The Negeri Sembilan state administration said it will not gazette or take any action to implement a proclamation seeking to remove Yang di-Pertuan Besar Tuanku Muhriz Tuanku Munawir from office, after accepting advice from the Attorney General’s Chambers (AGC).

Negeri Sembilan state secretary’s office will not gazette, implement proclamation to remove Tuanku Muhriz

Saudi Arabia and Yemen's Iran-backed Houthis exchanged fresh strikes across their border on Thursday and Yemenis took to boats in the Red Sea to escape fighting, as the spreading Middle East war created new threats to global oil supplies.

Saudis and Houthis exchange strikes, Yemenis take to boats to flee as Middle East war spreads

The Federal Territories Pardons Board is reconvening on Friday to discuss former prime minister Datuk Seri Najib Razak's clemency application over his conviction in the 1Malaysia Development Bhd scandal, after the matter was deferred at the previous board meeting last week, according to The Straits Times.

Pardons Board to reconvene Friday for Najib's clemency bid — report

The runway at Kota Kinabalu International Airport remains temporarily closed to allow essential works to be completed safely, as continuous rainfall has affected the progress of the works.

Twenty flights affected as Kota Kinabalu airport runway remains closed

The major US stock indices jumped on Thursday as a pullback in oil prices boosted sentiment, with the Federal Reserve's first rate hike under chair Kevin Warsh reassuring investors of the central bank's commitment to tackling inflation.

Wall Street climbs as easing oil prices offer reprieve after Fed rate hike

Iron ore trader Radiant World may hold just US$10,000 (RM40,990) in cash despite its most recent financial statements referring to cash balances of over US$200 million, lawyers for a Jefferies-linked fund suing over an alleged fraud said on Thursday.

Jefferies-linked fund says Radiant World may hold just US$10,000 in cash

Bank of England Governor Andrew Bailey said on Thursday the outlook was too unpredictable when asked whether markets were right to price in almost four interest rate hikes over the next year, adding that his officials had not discussed that.

BOE's Bailey says outlook too uncertain to judge market bets on four rate hikes

AirAsia Group Bhd (KL:AAGB) fell on Thursday to the lowest in nearly four years amid mounting concerns over the low-cost airline’s financial health.

AirAsia falls to near four-year low amid concerns over financial health

Pestec International Bhd (KL:PESTEC) said the Kuala Lumpur High Court has extended an injunction preventing its China-based supplier Shandong Power Equipment Co Ltd (SPECO) from enforcing an undated corporate guarantee against the group.

Pestec wins High Court order preventing Chinese supplier from enforcing corporate guarantee

The judge presiding over the SRC International Sdn Bhd and 1Malaysia Development Bhd suits against Datuk Seri Najib Razak and the suit filed by Muhammed Yusoff Rawther against Prime Minister Datuk Seri Anwar Ibrahim will be&nbsp;transferred to Ipoh.

Judge hearing Yusoff Rawther suit against PMX, and SRC, 1MDB suits to be transferred to Ipoh

Blogger Wan Muhammad Azri Wan Deris, or better known as Papagomo, has failed to obtain a stay of a High Court judgement in May that had ordered him to pay RM280,000 in damages for defaming former finance minister Lim Guan Eng and his son Clint Lim Way Chau six years ago.

Papagomo fails to obtain stay of damages payment to Guan Eng, son

The level of subsidised electricity for households has been increased to 800 kilowatt-hours (kWh) a month from 600kWh until Dec 31, said Prime Minister Datuk Seri Anwar Ibrahim.

Government ups household subsidised electricity threshold to 800kWh

Zetrix AI Bhd (KL:ZETRIX) founder Wong Thean Soon has ceased to be a substantial shareholder in Cuscapi Bhd (KL:CUSCAPI), after disposing of about 103.6 million shares in the company.

The shares disposed of via direct business transactions on Sept 11, comprise 99.1 million shares held directly and 4.5 million shares held indirectly through his private vehicle Asia Internet Holdings Sdn Bhd, according to a bourse filing. The shares represented nearly an 11% stake in Cuscapi.

TS Wong ceases to be substantial shareholder in Cuscapi after offloading 103.6 mil shares

Negeri Sembilan Menteri Besar Datuk Ismail Lasim has confirmed that the state executive council recognises the proclamation removing Tuanku Muhriz Tuanku Munawir as the Yang di-Pertuan Besar, Bernama reported.

Negeri Sembilan MB confirms state govt recognises removal of Tuanku Muhriz

Binastra Corp Bhd saw its net profit surge nearly 80% in the second quarter ended July 31, 2026 (2QFY2027), driven by stronger construction activity, contributions from newly acquired thermal energy firm LF Lansen Sdn Bhd and its expansion into solar installation.

Binastra Corp net profit surges nearly 80% in 2Q, declares four sen dividend

Huawei Technologies Co is set to unveil new artificial intelligence (AI) technology this week in defiance of US export control curbs, advancing its ambition to replace Nvidia Corp in China and compete on the global stage.

Huawei set to unveil AI chips to match Nvidia 

Vertex Material, a Malaysian advanced materials company, has set its sights on a Nasdaq listing next year.

Malaysian firm Vertex Material aims for Nasdaq listing in 2027 after claiming unicorn status

US President Donald Trump said he still had confidence in Federal Reserve (Fed) chairman Kevin Warsh and criticised what he said is a “hostile” board even after the central bank unanimously defied his calls to lower borrowing costs.

Trump backs Warsh, faults ‘hostile’ Fed board for rate hike

Malaysia has delayed the mandatory reasonable&nbsp;assurance requirements&nbsp;of&nbsp;applicable entities&nbsp;on their greenhouse gas (GHG) emissions by a year.&nbsp;

Malaysia delays reasonable assurance requirements on greenhouse gas emissions by a year

Canada and Europe should ally to protect their markets, democracies and rule of law in a world dominated by the United States and China, Prime Minister Mark Carney said on Thursday, after an EU proposal to make Canada an "associate member".

Canada and EU should ally to protect democracies, Carney says, after 'associate member' proposal angers Trump

The Dewan Keadilan dan Undang (DKU) Negeri Sembilan insists Tuanku Muhriz Tuanku Munawir remains the lawful Yang di-Pertuan Besar and chairman of the customary council.

Tuanku Muhriz remains Negeri Sembilan ruler, says council

KUALA LUMPUR (Sept 17): The Attorney General's Chambers (AGC) is of the view that the Negeri Sembilan executive council (exco) and menteri besar have no unilateral authority to terminate or declare the office of the Yang di-Pertuan Besar vacant, and deems the April 19 proclamation to depose Tuanku Muhriz Tuanku Munawir as unconstitutional.

AGC says Negeri Sembilan exco has no power to vacate throne, move to depose Tuanku Muhriz unconstitutional

One of the prosecution’s star witnesses in Datin Seri Rosmah Mansor's graft case involving a solar hybrid project for rural schools in Sarawak will not take the stand just yet to give his additional evidence.

Key witness in Rosmah's graft case not taking stand just yet as appellate court grants stay

Malaysian renewable energy company reNIKOLA said on Thursday that its unit, reNIKOLA Gedong Solar (Sarawak), signed a 30-year power purchase agreement with Syarikat Sesco Bhd for a planned solar project in Sarawak, the Malaysian state on Borneo island.

Malaysia's reNIKOLA unit signs 30-year power deal for Sarawak solar project

ANALYSTS rate the corporate earnings performance for 2Q as “satisfactory” given the backdrop of a prolonged Middle East conflict. The relative resilience of corporate earnings was attributed to Malaysia’s position as a net gas exporter, robust commodity prices and the ongoing up cycle in the tech...

Cover Story 2: Solid 2Q corporate earnings bolster market outlook

NexG Bhd (KL:NEXG) said the newly launched MyKad is the world’s first to combine biometric QR identity verification with an optional digital eWallet.

NexG says new MyKad world’s first to combine biometric QR verification and eWallet

A fire destroyed four factories at Jalan TPP 5/15,&nbsp;Puchong Industrial Park, on Thursday.

AG's Report 2023

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AG's Report 2023

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