The federal government has forked out a total of RM39.74 billion in guarantee commitment grants to repay 1Malaysia Development Bhd (1MDB) debts from 2019 to 2023.

Nearly RM40b in federal grants channelled to 1MDB, says Auditor General

KUALA LUMPUR (Oct 14): The dividends received from 18 companies and two statutory bodies in 2023 amounted to RM46.059 billion, down RM9.756 billion or 17.5% compared with RM55.815 billion in 2022, according to the Auditor General’s Report on Monday.

Dividends received by federal govt from firms, statutory bodies down nearly 18% in 2023 — AG’s Report

A total of 202 of the federal government’s projects under the 12th Malaysia Plan are deemed ailing projects (projek sakit) as at the end of last year, according to the Auditor General’s Report released on Monday.

202 projects delayed at least by over two months under 12MP, says AG’s Report 

The government spent more than budgeted for the implementation of the 12th Malaysia Plan (12MP) projects from 2021 to 2023, according to the auditor general.

Govt overspends on 12MP projects in first three years — AG's Report

The federal government's financial performance in 2023 improved over 2022, with excess revenue increasing by RM2.028 billion, according to the Auditor General's Report released on Monday.

Federal govt's financials improved in 2023, but rising liabilities need attention — AG's Report

The government has failed to implement the simultaneous issuance of vacant possession with strata titles (VPST), as there was no coordination between the Ministry of Housing and Local Government (KPKT) and other government agencies to fulfill the implementation of the policy, according to the Auditor General’s (AG) Report 2024.

Issuance of strata titles with vacant possession failed due to lack of coordination between ministry, govt agencies — AG's Report

The Mass Rapid Transit Line 1 (MRT1) and MRT2 have failed to meet their targets for daily ridership. They also failed to meet the targeted numbers of trains in operation, and peak-hour frequency, according to the 2024 Auditor General's Report.

MRT Corp's accumulated losses hit RM57.6b while MRT1, MRT2 fail to meet ridership, frequency targets — AG's Report

Human Resource Development Corp (HRD Corp) has acknowledged the shortcomings highlighted in the Auditor-General's (AG) and Public Accounts Committee (PAC) reports released on Thursday, and maintained that levies collected from employers should only be used to train their own employees.

HRD Corp acknowledges audit findings, says collected levies should only be for employee training

Khazanah Nasional Bhd has been advised to evaluate whether i2M Ventures Sdn Bhd should continue operations, having failed to achieve its objective to promote, market and manage businesses in Iskandar Puteri, Johor, according to the Auditor-General's (AG’s) Report 2024.

Khazanah advised to review relevance of i2M Ventures after failure to meet KPIs

The decision to debate the 2024 Auditor General's Report Series 2 (LKAN 2/2024) in Parliament underscores the government's commitment to embracing constructive criticism for better national governance, Communications Minister Fahmi Fadzil said.

Fahmi, who is also the Unity Government’s spokesperson, said the debate session, expected to begin next week, would provide MPs with an opportunity to discuss issues and propose enhancements in the management of ministries, departments and agencies outlined in the report.

Audit report opened for debate to improve governance, says Fahmi

Mara Incorporated Sdn Bhd (Mara Inc) has accumulated losses totaling RM286.3 million, which the auditor general attributes to the ineffective execution of property management activities.

Mara Inc couldn't declare dividends for 10 years as poor management led to RM286m losses — AG

The National Professors Council, a government-funded body comprising professors from Malaysian universities, has been found to have misused its funding to benefit two companies, in which two trustees have a stake.

AG finds misuse of funds at National Professors Council

The Royal Malaysian Navy has wasted RM384.49 million worth of unused spare parts, according to the 2024 Auditor General's Report.

One depot has 1.62 million unused parts worth RM381.69 million, while another depot has over 6,000 parts worth RM2.8 million, the report said. One reason cited for the non-utilisation of the spare parts is the exchange of equipment on ships with different brands and types of equipment.

Over RM384m worth of spare parts wasted by navy, AG's Report finds

KUALA LUMPUR (July 4): The Auditor General’s Report 2024 has flagged a suspicious disbursement of training grants, totalling RM51.69 million by the Human Resources Development Corp (HRD Corp).

AG flags HRD Corp for suspicious RM51.69m disbursements

Prime Minister Andy Burnham said he would argue for Britain to be a "trusted partner" to the European Union's (EU) "Made in Europe" scheme, saying they should not be pitted as enemies on a policy that has the potential to hammer the UK's car industry.

UK's Burnham wants to work with EU on 'Made in Europe' plan

Wendy’s Co said it terminated the rights of one of its largest US franchisees to continue operating its 314 locations, which the burger chain said could be taken over by corporate or new operators.

Wendy’s says bankrupt franchisee lost brand rights to stores

US President Donald Trump used his United Nations (UN) General Assembly speech on Tuesday to argue that the war with Iran prevented Tehran from obtaining a nuclear weapon and warn that he could "annihilate the Islamic Republic" if no deal is reached to end the conflict.

Trump warns in UN speech he could 'annihilate' Iran without peace deal

Nvidia Corp’s sinking stock valuation is sending a warning signal about the chipmaker’s prospects for maintaining its booming profit growth.

Nvidia’s stock is flashing a warning sign as valuation falls

No legal authority for Negeri Sembilan exco to suspend state secretary, state legal adviser — AGC

KUALA LUMPUR (Sept 22): Carimin Petroleum Bhd (KL:CARIMIN) has made Sealink International Bhd (KL:SEALINK) an associate company after increasing its Sealink stake to 25.3%.

This development comes about three months after Carimin's proposal to take Sealink private lapsed.

 Carimin makes Sealink an associate by upping stake to 25.3%  

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

Cuscapi, Zetrix AI, Sunway Healthcare, Eco World, SD Guthrie, MMAG, NexG, Country Heights, OGX, Maybulk & Oriental Interest

Gold prices edged lower on Tuesday as markets factored in more restrictive monetary policy from the US Federal Reserve (Fed) this year, while traders also kept close tabs on the Middle East conflict.

Gold eases as traders cement bets for higher for longer interest rates

Federal Reserve Bank of New York president John Williams said the shift to central clearing for US Treasuries and Treasury-collateralised repurchase agreements was ahead of schedule.

Fed’s Williams says Treasuries clearing moving ahead of schedule

Tremors from a weak magnitude 4.4 earthquake that struck the waters off Batu Pahat, Johor, at 4.55pm on Tuesday were felt across four states, as well as Putrajaya and Kuala Lumpur.

Quake off Batu Pahat: Tremors felt across Johor, Melaka, Negeri Sembilan and Klang Valley

Bon Estates Sdn Bhd has opened a new two-way road connecting Jalan Kiara 3 and Jalan Duta Kiara in Mont'Kiara, Kuala Lumpur, providing an additional route towards Solaris Dutamas and the surrounding areas.

Bon Estates opens new road link in Mont'Kiara

The developer of Eco Business Park 7 in Negeri Sembilan is selling two plots of industrial land for RM1 billion to a data centre operator.

Eco World-SD Guthrie JV sells 222 acres in Negeri Sembilan for over RM1b

<h2>Notable filings</h2>

Between Sept 1 and 4, notable filings with Bursa Malaysia on changes in shareholding included those of ACE Market-listed Ambest Group Bhd (KL:AMBEST), where co-founder and managing director Tan Beng Beng and co-founder and executive director Lim Eng Gu...

Insider Moves: Ambest Group Bhd, Salutica Bhd, LFE Corp Bhd, Sersol Bhd, Zetrix AI Bhd, Heitech Padu Bhd, Excel Force MSC Bhd

The Melaka State Legislative Assembly will be dissolved on Wednesday to pave&nbsp;the way for the 16th state election.

Melaka assembly to dissolve on Wednesday, paving way for state election

KUALA LUMPUR (Sept 22): The High Court here has ordered Tenaga Nasional Bhd (TNB)(KL:TENAGA) to pay RM10.52 million in special damages to Penang Bridge concessionaire Projek Lebuhraya Usahasama Bhd (PLUS) over a major fire incident in a cable tunnel beneath the bridge in February 2021.

Court orders Tenaga to pay Projek Lebuhraya Usahasama RM10.5 mil for Penang bridge fire

Hengyuan Refining Company Bhd (KL:HENGYUAN) surged to a fresh high on Tuesday, rising as much as 27 sen or 6.2% to RM4.61 during intraday trade.

Hengyuan reverses intraday gains to finish lower after touching new high; gains RM1.4b in market cap since August

Land &amp; General Bhd (KL:L&amp;G) plans to launch the first phase of its Lembah Beringin industrial park in Selangor in the first quarter of next year, with an estimated gross development value of RM1.5 billion.

Land & General upbeat on prospects, targets RM1.5b industrial launch in 1Q 2027

KUALA LUMPUR (Sept 22): A forced auction of Country Heights Holdings Bhd’s (KL:CHHB) land in Kajang, Selangor was cancelled due to absence of bidders.

Forced auction of Country Heights land cancelled due to lack of bidders

KUALA LUMPUR (Sept 22): Shares in ViTrox Corporation Bhd (KL:VITROX) hit their highest level since the company’s listing on the ACE Market in 2005 on Tuesday, driven by its strong growth prospects amid the AI infrastructure boom.

ViTrox hits new record high as AI-driven growth boosts outlook

A top executive at ASML Holding NV, Europe’s most valuable company, said it isn’t selling any of its chipmaking machines on the continent and that the region risks getting left behind as the US, China and India invest heavily in developing their domestic semiconductor industries.

ASML executive says no chipmaking machines sold in Europe, region risks getting left behind

Cuscapi Bhd (KL:CUSCAPI) has proposed a private placement of up to 94.49 million new shares to raise up to RM4.55 million for working capital, making it the second company linked to businessman Wong Thean Soon, better known as TS Wong, to announce a share placement this week.

Cuscapi seeks RM4.55m via private placement, second TS Wong-linked firm to tap equity market this week

Mr Chan is part of a company’s senior management. In the course of his role, he came upon information and a lucrative commercial opportunity that the company could exploit. He neither disclosed this nor obtained the company’s consent. Instead, armed with that information, he resigned, set up his own company and exploited that opportunity.

Opinion: The director as a fiduciary: The ‘no-profit’, ‘no-conflict’ and ‘misuse of trust and knowledge’ rules

Sabah Development Bank Bhd said on Tuesday it is willing to consider a substantial reduction in exposure in PacifiCity to support efforts to revive the long-abandoned project.

Sabah Development Bank ready to cut exposure to help revive abandoned PacifiCity

IHH Healthcare Bhd (KL:IHH) outperformed on Tuesday as Macquarie flagged an improving earnings trajectory across the hospital operator’s portfolio.

IHH Healthcare rises over 5% as Macquarie flags strong earnings outlook

The Negeri Sembilan executive council on Tuesday unanimously decided to suspend the state secretary and state legal adviser, said Menteri Besar Datuk Ismail Lasim.

Negeri Sembilan exco suspends state secretary and state legal adviser 

Zetrix AI Bhd (KL:ZETRIX) managing director Wong Thean Soon's stake in the company has now dropped to 11.06% from 11.97% last Friday, as Wong continued to pare his direct and indirect stakes in the company.

TS Wong further trims Zetrix AI stake; investment vehicle exits substantial shareholder list

KUALA LUMPUR (Sept 22): theedgemalaysia.com highlighted no stocks with positive momentum and eight stocks with negative momentum at Bursa Malaysia's afternoon close on Monday.

<h3>The stocks with negative momentum were:</h3>

Inta Bina Group Bhd (KL:INTA) — up two sen or 5.13% to 41 s...

Stocks with momentum on Sept 22, 2026: Inta Bina Group, Powerwell Holdings, Jati Tinggi Group, Northern Solar Holdings, Verdant Solar Holdings, Ewi Capital, D&O Green Technologies, Superlon Holdings

Loss-making MMAG Holdings Bhd (KL:MMAG),&nbsp;a company which counts NexG Bhd (KL:NEXG) as a substantial shareholder, has proposed a RM130 million share capital reduction to wipe out part of the company’s accumulated losses.

MMAG proposes RM130 mil capital reduction to pare accumulated losses

THE semiconductor industry in Penang is facing shortages in several areas, including engineering talent, factory floor space and production capacity. However, a lack of client orders is not one of them.

In fact, global customers are working closely with local manufacturers to ensure the...

Penang E&E players face capacity crunch amid influx of orders

BlackRock, Capital Group and Schroders are among investors poised to buy into the initial public offering of the company behind the Philippines’ top mobile wallet, GCash, which is telling investors it’s on track to price the deal below the maximum, according to people familiar with the matter.

AG's Report 2024

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AG's Report 2024

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