Effective March 1, Eric Chan — former regional managing director at Jardine Cycle & Carriage Limited Singapore, Malaysia, Indonesia, and Myanmar — assumes the roles of Carsome group president and group chief operating officer (COO).

Carsome appoints Eric Chan as new group president, COO

A controlling block of 92 million shares, or a 48.3% stake, in Rexit Bhd was crossed on Wednesday morning via a direct business transaction.

48% stake in Rexit changes hands; new controlling shareholder likely to emerge

KUALA LUMPUR (Dec 10): Casino tycoon Tan Sri Dr Chen Lip Keong — founder, major shareholder and senior chief executive officer of NagaCorp Ltd — passed away at the age of 75, according to Chinese newspaper Nanyang Siang Pau.

NagaCorp boss Chen Lip Keong passes away at 75 — report

Datuk Azman Ismail, former managing director and chief executive officer at PLUS Malaysia Bhd, has emerged as one of the contenders in the race to lead Digital Nasional Bhd (DNB), sources say.

Former PLUS CEO Azman Ismail, Vell Paari, Al-Ishsal Ishak tipped as DNB CEO contenders

KUALA LUMPUR (July 21): Creador-backed retail pharmacy chain BIG Pharmacy Healthcare Sdn Bhd has inked a deal to buy its competitor Caring Pharmacy Group Bhd from convenience store operator 7-Eleven Malaysia Holdings Bhd in a deal worth about RM900 million, sources told The Edge.

BIG Pharmacy to acquire Caring Pharmacy from 7-Eleven Malaysia for RM900 mil — sources

Pelikan International Corp Bhd is said to have sealed a cash deal to sell its stationery business to a European firm for about RM680 million to RM700 million.

Pelikan, which has made known its intention to divest of the stationery business, will distribute the cash proceeds to shareholders in the form of capital repayment after paying off its borrowings, according to a source familiar with the negotiations.

Pelikan planning bumper dividend after sealing over RM680m asset sale deal — source

CIMB Group Holdings Bhd’s investment bank, CIMB Investment Bank Bhd, inked a deal earlier on Friday (April 7) to acquire KAF Equities Sdn Bhd from KAF Investment Bank Bhd (KAF IB), sources said.

CIMB Investment Bank inks deal to buy KAF Equities, sources say

Datuk Nik Airina Nik Jaffar, director of special projects and corporate finance at UEM Group Bhd, is said to have been appointed as new managing director and chief executive officer of PLUS Malaysia Bhd, according to sources.

Nik Airina Nik Jaffar is said to be PLUS Malaysia’s new MD and CEO

KUALA LUMPUR (Feb 25): Digital health platform and e-prescriptions issuer DOC2US is set to be physically operating in Saudi Arabia, bringing in and setting up its ecosystem and infrastructure in the country to provide digital healthcare services for international pilgrims and travelers.

DOC2US plans to invest US$1 mil to set up physical ops in Saudi Arabia, say sources

Former Civil Aviation Authority of Malaysia (CAAM) chief executive officer Datuk Captain Chester Voo Chee Soon is set to join AirAsia Aviation Group Ltd (AAAGL), the aviation arm of Capital A Bhd, as the group chief operating officer, The Edge has learned.

Ex-CAAM CEO Chester Voo to join Capital A's aviation arm, sources say

CIMB Group Holdings Bhd is looking to split the chief executive officer (CEO) job at its group wholesale banking segment into two, resulting in co-CEO positions to separately oversee the treasury and markets segment as well as the corporate and investment banking segment, said multiple sources familiar with the matter.

CIMB looks to split CEO job at wholesale banking; ex-JPMorgan banker to join as co-CEO — sources

Local e-prescription service provider DOC2US is set to ink a strategic regional partnership with Watsons Malaysia.

DOC2US set to ink strategic regional partnership with Watsons Malaysia

The Securities Commission Malaysia’s (SC) managing director Foo Lee Mei, general counsel Chee Fei Meng plus executive director of digital strategy and innovation Chin Wei Min are understood to have quit.

Three more top officials leave SC

Several sources say Berjaya Corp Bhd’s (BCorp) chief executive officer Abdul Jalil Abdul Rasheed will be stepping down from his post to pursue his personal interests.

Abdul Jalil to step down as Berjaya Corp CEO to pursue personal interests

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Premier: Sarawak expects to ink S&P on Affin Bank deal in a month

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Treasuries rally as data points to a September rate cut

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce & Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.

Miami condo tower moves on from brokers facing rape allegations

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Deputy PM Fadillah pays courtesy visit to Vietnamese PM, strengthens bilateral cooperation

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Wall Street rebounds on tech recovery, small caps jump after benign inflation data

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

Malaysia urges Asean dialogue partners to support ceasefire in Gaza

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

US charges Citron's Andrew Left over alleged multi-million fraud scheme

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Malaysia steps up efforts to finalise South China Sea code of conduct

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

AirAsia X, Capital A, Hibiscus, Dagang NeXchange, ViTrox, Ekovest, Knusford, Alam Maritim, Datasonic, Kumpulan Kitacon, DXN, Homeritz, Westport, MGRC 

VIENTIANE (July 26): The Asean Post Ministerial Conference kicked off in the Laos capital here on Friday, as Asean foreign ministers engaged with top diplomats from dialogue partners to discuss various regional and international issues of common interest.

Asean Post Ministerial Conference kicks off in Laos; regional, global issues in focus

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

Ekovest Bhd (KL:EKOVEST) said it has agreed to a further extension of time to discuss a merger between its wholly owned subsidiary Ekovest Construction Sdn Bhd (ECSB) and Knusford Bhd (KL:KNUSFOR).

Ekovest agrees to six-month extension for merger discussion between subsidiary and Knusford

US prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services, underscoring an improving inflation environment that could position the Federal Reserve to begin cutting interest rates in September.

US inflation rises moderately, consumer spending cools

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

The prestigious five-star Lexis Hibiscus 2 luxury resort is currently under construction by the KL Metro Group and is expected to be completed by 2029, said Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.

Construction of RM1.6 bil GDV Lexis Hibiscus 2 resort will be completed in 2029

Practice Note 17 (PN17) company Alam Maritim Resources Bhd (KL:ALAM) has announced its regularisation plan, which includes a share capital reduction of RM440 million, 10-to-one share consolidation, an issuance of renounceable rights shares with warrants and a scheme of arrangement with its creditors.

Alam Maritim submits regularisation plan to exit PN17 status

Health and wellness direct selling company DXN Holdings Bhd (KL:DXN) said on Friday its net profit rose 10.26% in the first quarter from a year earlier due to higher revenue recognised from overall operating segments.&nbsp;

DXN Holdings 1Q net profit up 10.26%, targets market presence in Zambia, Ghana  

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Upholstery furniture products manufacturer Homeritz Corp Bhd’s (KL:HOMERIZ) net profit surged 46.37% in the third quarter from a year earlier, thanks to higher sales volume and stronger US dollar. &nbsp;

Net profit for three months ended May 31, 2024 (3QFY2024) climbed to RM9.09 million or earnings per share of 1.96 sen, from RM6.21 million or 1.34 sen per share recorded in 3QFY2023. &nbsp;

Homeritz’s 3Q net profit soars 46.37% on higher sales and strong greenback

Cyberview Sdn Bhd has signed three Memoranda of Understanding (MOUs) with three companies to make Cyberjaya a global technology hub.

Chief executive officer Kamarul Ariffin Abdul Samad said the companies involved were Permodalan Negeri Selangor Bhd (PNSB), Selangor Information Technology &amp; Digital Economy Corporation (SIDEC) and digital infrastructure company Equinix Malaysia.

Cyberview signs three MOUs to make Cyberjaya a global technology hub

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce &amp; Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.&nbsp;

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

Kumpulan Kitacon bags RM54.5m job to build houses in Rawang

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Penang Port Sdn Bhd (Penang Port) on Friday announced the acquisition of five Kalmar container handling machines to optimise operations and improve service levels.

Penang Port acquires Kalmar container handling equipment to enhance services

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

Hungary will face fuel shortages from September if full Russian oil flows are not restored, a government official said on Friday, accusing Ukraine of blackmailing it by partially suspending supplies.

Eastern European Union (EU) members Slovakia and Hungary have been hit by a stop in flows from Russian group Lukoil coming via Ukraine after sanctions were imposed on the company.

Hungary says it will face fuel shortages from September without Lukoil supplies

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

A new recruitment of 3,950 staff, comprising 3,200 medical officers, 350 dental officers and 400 pharmacy officers, will be made through contract (interim) appointments, the Ministry of Health (MOH) said.

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