(Dec 3): Bitcoin bulls are starting to express some doubts, after what seemed like an inevitable march towards a record high price of US$100,000 (RM447,024) loses momentum.

Bitcoin’s push towards US$100,000 runs into a wall of resistance

(Dec 2): XRP, a token linked to Ripple Labs Inc, has vaulted rivals to become the third-largest cryptocurrency in a US$100 billion (RM446.42 billion) rally.

Ripple-linked XRP soars to third-largest token after Trump win

US exchange-traded funds (ETFs) investing directly in bitcoin and Ether are enjoying unprecedented demand, buoyed by President-elect Donald Trump’s pledge to unfetter the crypto industry from regulatory shackles.

Ether, bitcoin ETFs log record inflows on Trump’s embrace of crypto

Hong Kong plans to waive tax on investment gains from cryptocurrencies and other alternative assets for hedge funds, private equity funds and certain family offices as the city strives to enhance its appeal as a wealth management hub.

Hong Kong to offer crypto tax exemption for hedge funds and family offices

Bitcoin resumed a climb towards US$100,000 (RM444,375) on signs that crypto-friendly candidates will likely shape US financial rules under President-elect Donald Trump.

Bitcoin gets boost as crypto supporters vie to head US regulators

Bitcoin posted its longest losing streak in the period since Donald Trump’s US election victory, after a failed run at US$100,000 (RM446,725) cooled the speculative fervour sparked by the president-elect’s embrace of crypto.

Bitcoin retreats from US$100,000 in worst spell since Trump’s win

Singapore Gulf Bank is seeking to raise at least US$50 million (RM222.9 million) in a funding round and plans to acquire a stablecoin payments company next year, according to people with direct knowledge of the matter.

Singapore Gulf Bank to raise funds, buy stablecoin payments firm

Bitcoin touched a record high on Friday, with its sights set firmly on the US$100,000 (RM446,800) barrier, in a stellar rally for the cryptocurrency sparked by expectations of a more friendly regulatory environment under a Donald Trump administration.

Bitcoin at record highs, sets sights on US$100,000

Cboe Global Markets Inc. said it is set to list the first cash-settled index options related to the spot price of Bitcoin, marking the latest addition of cryptocurrency-related securities to traditional exchanges.

Cboe to launch cash-settled Bitcoin ETF options as crypto booms

The use of money-market fund tokens from the likes of BlackRock Inc and Franklin Templeton as collateral in traditional derivatives trades inched closer to reality on Thursday.

CFTC advisers recommend use of tokenised assets as collateral

Bitcoin hit US$95,000 (RM425,030) for the first time as the digital-asset sector moves to cement its influence with Donald Trump by pushing for a new White House post dedicated to cryptocurrency policy.

Bitcoin climbs closer to US$100,000 on Trump’s support for crypto

US exchange-traded funds investing directly in bitcoin surpassed US$100 billion (RM447.4 billion) in total assets as the original cryptocurrency extended a record-breaking rally.

Record bitcoin run sees US ETF assets surge to over US$100b

Bitcoin rose to a record high above US$94,000 (RM419,916) as a report that Donald Trump's social media company was in talks to buy crypto trading firm Bakkt boosted expectations of a crypto-friendly regime under his incoming administration.

Bitcoin rises above US$94,000 for the first time

A record-breaking crypto rally born in the US is leaving its mark on Asia, including a jump in the value of bitcoin held by Bhutan to more than US$1 billion (RM4.47 billion) and a surge in digital-asset trading volumes in South Korea.

Asian crypto hotspots gain from US$800b rally led by US

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

Binastra Corp, Mah Sing, T7 Global, JF Technology, VS Industry, Solarvest Holdings, Magni-Tech Industries

Financially distressed MMAG Holdings Bhd (KL:MMAG) has taken a step forward in its recovery efforts by securing a partnership with Malaysia Airlines Bhd.

MMAG signs deal to serve as MASKargo's exclusive freighter operator

Wall Street's main indexes were subdued in choppy trading on Tuesday after the S&P 500 and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials.

Wall Street muted with focus on more data, US Fed commentary

Despite widespread concern that generative AI could interfere with major elections around the globe this year, the technology had limited impact across Meta Platforms' apps, the tech company said on Tuesday.

Meta says gen AI had muted impact on global elections this year

US job openings increased moderately in October while layoffs declined, suggesting the labour market continued to slow in an orderly fashion.

US job openings rise in October, layoffs decrease

Singapore and Australia agreed on Tuesday to seek opportunities for increased access to their respective defence facilities, including more frequent Australian visits to the city-state's air force and navy bases.

Australia, Singapore agree to seek expanded access to their defence facilities

Chinese companies should be wary of buying US chips as they are "no longer safe" and buy locally instead, four of the country's top industry associations said on Tuesday in a rare coordinated response to Washington's curbs on Chinese chipmakers.

US chips are 'no longer safe,' Chinese industry bodies say in latest trade salvo

Investment company Abrdn plc, formerly known as Aberdeen Asset Management plc, has emerged as a substantial shareholder in Feytech Holdings Bhd (KL:FEYTECH), after raising its stake to 5.21% or 43.91 million shares.

Abrdn emerges as substantial shareholder in Feytech

Cloudpoint Technology Bhd (KL:CLOUDPT) said it has secured a RM33.6 million contract to implement advanced integrated service management automation (ISMA) solutions from a local bank.

Cloudpoint Technology bags management automation solutions contract from local bank

The founding couple of FashionValet Sdn Bhd (FashionValet), who have been linked to the investment losses of Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), will be charged at the Kuala Lumpur Sessions Court on Thursday.

FashionValet founders to be charged on Thursday, says MACC chief

Vietnamese tycoon Truong My Lan has lost her appeal against the death sentence handed down in April for masterminding the country’s largest-ever fraud scandal.

Vietnamese tycoon loses death penalty appeal over fraud scandal

China has banned exports to the US of items related to the minerals gallium, germanium and antimony that have potential military applications, its commerce ministry said on Tuesday, a day after Washington's latest crackdown on China's chip sector.

China bans export of key minerals to US as trade frictions escalate

Mah Sing Group Bhd (KL:MAHSING) is acquiring 59.12 acres (23.93 hectares) of prime land in the Pulai district of Johor Bahru for RM62.98 million, which will be developed into super-linked homes with an estimated gross development value (GDV) of RM463 million.

Mah Sing buys Johor Bahru land for township project with GDV of RM463 mil

The Malaysian Meteorological Department (MetMalaysia) has issued a weather warning for thunderstorms, heavy rain and strong winds in eight states, expected to continue until late this afternoon.

In a statement, MetMalaysia said the adverse weather conditions are also forecast to affect the Federal Territories of Kuala Lumpur and Putrajaya.

Thunderstorms, heavy rain, strong winds expected in eight states — MetMalaysia

Analysts have revised their earnings forecasts for Malaysian stocks and trimmed the year-end target for the benchmark FBM KLCI following mixed results across sectors in the July-September quarter (3Q2024).

In a note, UOB Kay Hian has trimmed earnings forecasts for the FBM KLCI by 0.8% for 2024 and 1.7% for 2025, driven by downgrades in the plantation and consumer sectors and weakness in the oil and gas shipping segment.

Analysts revise KLCI growth forecast after mixed 3Q, cut year-end target

Amazon Web Services (AWS) on Monday announced that Mesolitica, a Malaysian startup specialising in training large language models (LLMs), has built a Malay-language generative artificial intelligence (GenAI) LLM called MaLLaM on its cloud services.

The MaLLaM can understand local nuances, such as slang and colloquialisms that merge different dialects, Bahasa Melayu, and 16 other regional languages, for use in AI-assistants across industries.

AWS announces GenAI large language model in Malay built by Malaysian startup on its cloud services

KUALA LUMPUR (Dec 3): JF Technology Bhd (KL:JFTECH) is set to begin selling and distributing its products in the US by January 2025, following a cross-licensing agreement signed with US-based Ironwood Electronics in July.&nbsp;

JF Technology to begin selling in US by January 2025

KUALA LUMPUR (Dec 3): Sime Darby Property Bhd’s (KL:SIMEPROP) two recent launches — JUMPA @ Elmina Valley and Kanopi — have recorded strong take-up rates, according to a media statement by the developer on Friday (Nov 29). &nbsp;

Strong take-ups for Sime Darby Property’s recent launches in Elmina City Centre, Shah Alam

South Korean President Yoon Suk Yeol on Tuesday declared martial law in a surprise late-night TV address, slamming domestic political opponents and sending shockwaves through the country.

South Korea President Yoon declares martial law, slams domestic opponents 

The founding couple of FashionValet Sdn Bhd (FashionValet), who have been linked to the investment losses of Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), will be charged at the Kuala Lumpur Sessions Court on Thursday.

Indonesia is expecting to get a US$1 billion (RM4.47 billion)&nbsp;investment commitment from tech firm&nbsp;Apple&nbsp;Inc&nbsp;in a week, its investment minister said on Tuesday, after the government banned iPhone 16 sales for failing to meet local content rules.

Indonesia expects US$1b investment commitment from Apple in a week, in response to iPhone 16 sales ban

Datuk Seri Najib Razak took aim at Malaysian Anti-Corruption Commission (MACC) investigating officer (IO) Nur Aida Arifin’s testimony, saying that her assertions were “deranged”, “deluded” and coming from someone “unversed” with diplomacy.

Najib: MACC IO deranged, deluded and unversed with diplomacy to suggest I had G2G meeting on yacht 

Lawyer and former de-facto law minister Datuk Zaid Ibrahim said the then Malaysian Bar president Karen Cheah Yee Lynn should have asked him and his partners, Liew Teck Huat and Rueben Mathiavaranam, for their views before issuing a statement on Aug 19, 2022, complaining of their conduct in former prime minister Datuk Seri Najib Razak’s final appeal in the SRC International Sdn Bhd criminal case.

Zaid Ibrahim says past Bar president ‘jumped the gun’ to issue statement against him and law partners

(Dec 3):&nbsp;Oil major Exxon Mobil Corp&nbsp;is considering a sale of its gas stations in Singapore, which could raise about US$1 billion (RM4.46 billion), according to people familiar with the matter.

Exxon said to weigh sale of US$1b Singapore gas stations — Bloomberg

Datuk Seri Najib Razak said that he was not sure how fugitive businessman Low Taek Jho (Jho Low) obtained his personal mobile phone number, but because he was the prime minister back then, many Malaysians would have the phone number.

1MDB-Tanore: Najib unsure how Jho Low obtained his mobile number

Vehicle owners must be more attentive to announcements regarding recall for inspection by the Road Transport Department (JPJ), said Transport Minister Anthony Loke.

Vehicle owners told to take JPJ’s recall announcements seriously 

VS Industry Bhd’s latest quarterly net profit dropped 37.53%, mainly due to lower sales orders from existing customers, unfavourable foreign exchange (forex) rates and higher labour costs as a result of an increase in headcount.

VS Industry’s 1Q net profit drops 38% on lower sales orders; declares 0.4 sen dividend 

NAGA 5, one of six jack-up drilling rigs belonging to Velesto Energy Bhd (KL:VELESTO), is in its 55-day major maintenance programme at a Seatrium Ltd-owned shipyard in Tuas, Singapore.

Another two jack-up rigs, Naga 3 and Naga 8, are scheduled for drying dock in the first half of next y...

Velesto makes hay while upcycle lasts 

AirAsia has launched 27,000 fixed fare tickets for travel from Peninsular Malaysia to Sabah and Sarawak in conjunction with the upcoming Chinese New Year festivities.

AirAsia offers 27,000 fixed fare seats for travel from Peninsular Malaysia to Sabah, Sarawak during CNY

Former prime minister Datuk Seri Najib Razak said he had no knowledge of the central bank's "remarkably swift approval" of the US$1 billion that was transferred out of the country in 2009.

Testifying in his own defence at the 1MDB-Tanore trial — so named as the trial involves 1Malaysia Development Bhd's (1MDB) dealings with Tanore Finance Inc, a company allegedly used to channel funds from 1MDB to Najib — Najib said it would have been reasonable for Bank Negara Malaysia (BNM) to raise concerns over such a sizeable remittance, but noted this was not done.

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