Last Friday (Sept 18), Zetrix AI Bhd (KL:ZETRIX) made an unusual and shocking announcement. The company was unable to proceed to pay to shareholders a cash dividend which was due on that day.

The Edge Says: Bursa must get Zetrix to disclose name of substantial shareholder who blocked cash dividend payment

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

YTL Power, Ranhill, MPHB, IHH Healthcare, Aurelius, Pestech, CelcomDigi, UEM Sunrise, IGB, FGV, E&O, Supermax, BLand, Magnum, Signature International, Star Media

A Singapore court has sentenced Malaysian John Soh Chee Wen — who was found guilty of masterminding the manipulation of three penny stocks that eventually collapsed and wiped off S$8 billion (RM26.23 billion) in market capitalisation in 2013 — to 36 years in jail. His main accomplice Quah Su Ling, another Malaysian, was given 20 years.

The Edge Says: Singapore gets it right — Severe punishment is the best deterrent against future commercial crimes

The Federal Land Development Authority (Felda) is silent after its third six-month special exemption from Bursa Malaysia for the 25% public shareholding spread in FGV Holdings Bhd expired on Aug 3 2022.

It continues to mop up more shares on the open market in an apparent attempt to privatise FGV on the cheap despite high palm oil prices and record profits.

Felda and privatisation of FGV: No end in sight

KUALA LUMPUR (April 17): To compound or not to compound may very well be the question when it comes to compoundable offences. The decision to compound the four executives in the Serba Dinamik Holdings Bhd case has raised a myriad of questions, thoughts, and opinions.

As a general princi...

MSWG CEO: What is the reason for the decision to compound in Serba Dinamik case?

KUALA LUMPUR (April 5): Whilst Gamuda is still considering and deliberating the offer from Amanat Lebuhraya Rakyat Berhad (ALR), and we will duly announce our decision on their offer immediately after our Board has made a decision on it, we would like to make the following comment(s):

Gamuda says everyone wins with ALR's takeover offer

KUALA LUMPUR (Feb 8): Last Friday (Feb 4), I took my children to the World Trade Centre in Kuala Lumpur to be vaccinated. Like all parents, whether a pandemic was in progress or not, my wife and I were understandably anxious. Indeed we are always anxious. We worry about the state of the world our children are growing up in and about the future they may have to inhabit. We want the best for them and we live in the hope that somehow, things will get better. We steel ourselves to be ready for anything but we weren't prepared for what awaited us that day.  As expatriate parents, understandably, our anxiousness had added dimensions to it.

A pleasant surprise during my children’s vaccination

Serba Dinamik Bhd’s standoff with market regulators and two major accounting firms over its delayed financial statements is becoming a joke. But it is definitely not funny.

To recap, the problem surfaced after its long-time external auditor KPMG highlighted discrepancies involving trans...

End the standoff: Serba Dinamik should make EY review public to prove it has nothing to hide

KUALA LUMPUR (Nov 16): Effective Jan 1, 2022, a proposal to remove tax exemption on income derived from foreign sources and received in Malaysia by Malaysian residents under Paragraph 28, Schedule 6 of the Income Tax Act (ITA) 1967 was announced in the recent Budget 2022.

Look into issues in proposed tax on foreign-sourced income

Money laundering is a process of converting cash or property derived from illegal activities to give it a legitimate appearance. It is a process to clean "dirty" money in order to disguise its criminal origin.

The Malaysian Anti-Corruption Commission (MACC) is empowered to enforce recovery of stolen assets via the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFPUAA 2001).

Understanding money laundering and asset recovery strategies

There are views now being promoted that any prescriptive regulations or employment requirements for vaccination status on individuals militate against the liberty of a person to choose NOT to be vaccinated. And further this is unconstitutional.

Does the Federal Constitution protection of fundamental liberty mean that laws employer cannot prescribe vaccination against Covid-19 be imposed?

MERDEKA!

On the 31st of August 2021, Malaysia will celebrate 64 years of independence. Over the last two years, the usual fanfare associated with the occasion (among others) has been replaced with quieter celebrations at home under what seems to be a perpetual state of lockdown.

Merdeka, in the midst of a pandemic

There is a call to set up a Royal Commission of Inquiry (RCI) to investigate allegations of interference on the judiciary. Such a call is wrong and must be rejected.

Setting up of RCI to investigate judiciary is unconstitutional

While grappling with the Covid-19 pandemic, Malaysia has also gone through a very toxic and stormy period of political crisis since the Sheraton coup took place in February 2020. Seventeen months after the parliamentary coup, we have yet another unelected government led by the ninth prime minister (PM), and third in three years, Datuk Seri Ismail Sabri Yaakob.

An idea of economic governance for new PM

Microsoft has pulled out of a data centre deal with British cloud provider Nscale, Britain's Telegraph newspaper reported on Sunday.

Microsoft pulls out of UK data centre deal with Nscale — report

SEOUL (Oct 18): Samsung Electronics will use TSMC's three-nanometre process to produce base dies for Nvidia's next-generation custom high-bandwidth memory (HBM) chips, the Seoul Economic Daily reported on Sunday.

The move would mark the first time Samsung has worked with the Taiw...

Samsung to use TSMC technology for Nvidia's next-generation memory chips — report

Educational institutions under the Ministry of Education (MOE) in Selangor, Negeri Sembilan, Melaka, Pahang, and Penang will reopen and resume normal operations on Monday.

Schools in Selangor, Negeri Sembilan, Melaka, Pahang, Penang to reopen Monday

IPOH (Oct 18): DAP elected representatives who fail to meet their key performance indicators (KPIs) risk not being renominated in future elections, party secretary general Anthony Loke said.

He said Perak DAP, under the leadership of its chairman Nga Kor Ming, had set strict performance...

DAP reps who fail to hit KPIs risk being dropped, says Loke

The Sabah Cabinet has approved 24-hour operations for the Sepanggar Bay Container Port (SBCP) to address logistics congestion, but implementation depends on the industry ecosystem's overall readiness, as well as the readiness of related government departments and agencies.

Sepanggar Bay Container Port gets nod from Sabah Cabinet for 24-hour operations 

The Malaysian Prisons Department is now in the final phase of drafting regulations and conditions for the implementation of home detention following the conditional pardon decision that allows former prime minister Datuk Seri Najib Razak to serve the remainder of his prison sentence through this method.

Prisons Dept finalising house arrest rules, says home minister

Malaysia’s diversified economy, resilient export markets and stronger fiscal buffers will help cushion external shocks and support its growth outlook for 2027, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

Amir Hamzah sees Malaysia’s diversified economy, fiscal buffers cushioning external shocks in 2027

The E-Commerce Bill will be tabled in Parliament at the first meeting next year to strengthen the regulation of online transactions, said Deputy Domestic Trade and Cost of Living Minister Datuk Dr Fuziah Salleh.

E-Commerce Bill to be tabled in first Parliament meeting of 2027, says minister 

China has proposed export controls on 12 technologies used to make solar equipment, citing national security concerns, as part of a broader revision that also covers AI and biotechnology.

China proposes export controls on solar-manufacturing technologies

Norway, Switzerland, Iceland and Liechtenstein have signed a free-trade agreement with Vietnam, the governments of Norway and Vietnam announced on Sunday.

Vietnam signs free-trade pact with European countries including Norway, Switzerland

China has proposed export controls on 12 technologies used to make solar equipment, citing national security concerns, as part of a broader revision that also covers AI and biotechnology.

Microsoft has pulled out of a data centre deal with British cloud provider Nscale, Britain's Telegraph newspaper reported on Sunday.

The E-Commerce Bill will be tabled in Parliament at the first meeting next year to strengthen the regulation of online transactions, said Deputy Domestic Trade and Cost of Living Minister Datuk Dr Fuziah Salleh.

Malaysia’s diversified economy, resilient export markets and stronger fiscal buffers will help cushion external shocks and support its growth outlook for 2027, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

SEOUL (Oct 18): Samsung Electronics will use TSMC's three-nanometre process to produce base dies for Nvidia's next-generation custom high-bandwidth memory (HBM) chips, the Seoul Economic Daily reported on Sunday.

The move would mark the first time Samsung has worked with the Taiw...

Norway, Switzerland, Iceland and Liechtenstein have signed a free-trade agreement with Vietnam, the governments of Norway and Vietnam announced on Sunday.

IPOH (Oct 18): DAP elected representatives who fail to meet their key performance indicators (KPIs) risk not being renominated in future elections, party secretary general Anthony Loke said.

He said Perak DAP, under the leadership of its chairman Nga Kor Ming, had set strict performance...

The Sabah Cabinet has approved 24-hour operations for the Sepanggar Bay Container Port (SBCP) to address logistics congestion, but implementation depends on the industry ecosystem's overall readiness, as well as the readiness of related government departments and agencies.

Educational institutions under the Ministry of Education (MOE) in Selangor, Negeri Sembilan, Melaka, Pahang, and Penang will reopen and resume normal operations on Monday.

The Malaysian Prisons Department is now in the final phase of drafting regulations and conditions for the implementation of home detention following the conditional pardon decision that allows former prime minister Datuk Seri Najib Razak to serve the remainder of his prison sentence through this method.

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