EVENING 5: Five things you need to know today

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

President Donald Trump on Monday laid out a sweeping plan to maximise already record high US oil and gas production by declaring a national energy emergency, stripping away excess regulation, and withdrawing the US from an international pact to fight climate change.

Trump says to unleash American fossil fuels, halt climate cooperation

LONDON (Jan 21): British Finance Minister Rachel Reeves will urge company bosses at the World Economic Forum (WEF) meeting in Davos, Switzerland, to invest in the UK, emphasising its political and economic stability and pro-business government, her office said on Tuesday.

UK's Reeves to tell Davos: 'time to invest in Britain is now'

MORNING CALL: 21/1/25

Malaysian Resources Corp Bhd (KL:MRCB) is said to have won the bid for the Ipoh Railway Station Integrated Development Plan (iRide) project, which will be inked on Thursday (Jan 23) in Ipoh, Perak, according to sources.

MRCB wins bid for Ipoh Sentral, say sources 

The dollar fell as Donald Trump was sworn in as US president, with traders betting that he’d hold off on implementing aggressive tariffs immediately after his Inauguration.

US dollar tumbles on bets Trump holds off on immediate tariffs

European Union finance ministers agreed on Monday to stay united in their approach to the new US administration and that a more competitive EU economy was the best protection from potential transatlantic economic challenges, EU diplomats said.

EU ministers agree on unity in approach for deeper US ties

Asian markets are set to rise in early trading after President Donald Trump held off from imposing sweeping trade tariffs on his first day in office.

Asian stocks set to climb as Trump’s tariff threat wanes

President Donald Trump held off unveiling China-specific tariffs on his first day on office, instead ordering his administration to address unfair trade practices globally and investigate whether Beijing had complied with a deal signed during his first term.

Trump holds off on immediate China tariffs, calls for study 

Yinson Production Offshore Pte plans to allocate $4.5 billion to $6 billion (RM20.2 billion to RM30 billion) capital expenditure in the next three years to expand ahead of a possible initial public offering in the US.

Yinson FPSO unit to allocate up to US$6 billion in capex

Wall Street breathed a collective sigh a relief after Donald Trump held off from imposing China-specific tariffs on his first day in office, pushing US equity futures higher. The dollar slumped.

Tariff relief lifts S&P futures as Trump sworn in

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

MAHB, 7-Eleven, Fajarbaru, Datasonic, Scanwolf, UUE, SkyWorld, Mieco, Maxland 

Gateway Development Alliance Sdn Bhd (GDA), the consortium of three entities offering to take Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT) private at RM11 per share, revised one of the conditions for the offer on Monday.

It dropped the acceptance level to 85%, from the 90% stated in the offer document that was issued on Dec 6, 2024.

What GDA's revision in terms means to MAHB’s privatisation

The federal government and five others have filed a prohibitory and gag order barring the public from discussing openly&nbsp;the purported addendum seeking to allow former prime minister Datuk Seri Najib Razak to serve the remainder of his six years' jail sentence&nbsp;under house arrest.

Govt files application for a gag and prohibitory order on purported addendum for Najib's house arrest

Malaysian Resources Corp Bhd (KL:MRCB) is said to have won the bid for the Ipoh Railway Station Integrated Development Plan (iRide) project, which will be inked on Thursday (Jan 23) in Ipoh, Perak, according to sources.

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The dollar fell as Donald Trump was sworn in as US president, with traders betting that he’d hold off on implementing aggressive tariffs immediately after his Inauguration.

Timber firm Maxland Bhd (KL:MAXLAND) has inked a formal deal to collaborate with data processing services provider GDC Data Sdn Bhd to jointly venture into data centre development in Kulim, Kedah.

Maxland inks deal with GDC Data for data centre development collaboration

Wall Street breathed a collective sigh a relief after Donald Trump held off from imposing China-specific tariffs on his first day in office, pushing US equity futures higher. The dollar slumped.

Chin Teck Plantations Bhd (KL:CHINTEK) posted a 56.66% year-on-year rise in first-quarter net profit, lifted by higher prices and share of results of associates and joint ventures (JVs).

Chin Teck Plantations' 1Q profit up 57% on higher prices, share of JV results

Yinson Production Offshore Pte plans to allocate $4.5 billion to $6 billion (RM20.2 billion to RM30 billion) capital expenditure in the next three years to expand ahead of a possible initial public offering in the US.

President Donald Trump did not immediately impose tariffs on Monday as previously promised but directed federal agencies to "investigate and remedy" persistent US trade deficits and unfair trade practices and currency manipulation by other countries.

Trump holds off on immediate tariffs but plans trade overhaul

Southeast Asian cell tower firm EdgePoint Infrastructure is looking to expand its portfolio to over 20,000 towers in two to three years from around 15,000 currently, its chief executive told Reuters.

CEO and co-founder Suresh Sidhu said on Monday that the company, which is backed by US-listed DigitalBridge, would expand in Indonesia, Malaysia and the Philippines, markets where it already has a presence.

DigitalBridge-backed EdgePoint aiming to add more than 5,000 telco towers

President-elect Donald Trump has selected junior CFTC Commissioner Caroline Pham as acting chair of the swaps and derivatives regulator, according to people familiar with the matter. 
&nbsp; 
The five members of the Commodity Futures Trading Commission (CFTC) voted on Monday to confirm Pham as acting chair, said the people, who asked not to be identified since the appointment hadn’t yet been publicly announced.

Trump picks Caroline Pham to serve as acting CFTC chair

Outgoing&nbsp;Chief Justice Tun Tengku Maimun Tuan Mat on Monday emphasised the importance of judicial leaders maintaining courage and staying steadfast in their pursuit of justice.&nbsp;

Chief justice urges judicial leaders to uphold courage in championing justice

Asian markets are set to rise in early trading after President Donald Trump held off from imposing sweeping trade tariffs on his first day in office.

Economic fears have escalated into grievances among 60% of people, with many believing hostile actions such as violence can be necessary to bring about change, according to a global poll by communications firm Edelman.

Economic grievances fuel support for hostile actions, Edelman global survey shows

Malaysia and the European Union (EU) have not set any time frame to conclude their negotiations for the Malaysia-EU Free Trade Agreement (MEUFTA).

Prime Minister Datuk Seri Anwar Ibrahim, however, said both parties agreed to accelerate the negotiations.

No time frame set to conclude Malaysia-EU free trade talks — PM

US President Joe Biden granted preemptive pardons to leading government officials that president-elect Donald Trump has threatened to punish, fending off potential retribution by his successor against those he has labelled as political enemies.

Biden pardons Milley, Fauci, Cheney and other Trump targets

Malaysian Prime Minister Datuk Seri Anwar Ibrahim met leaders of the European Union (EU) at the Europa Building here on Monday.

Upon arriving at the seat of the European Council and Council of the European Union, Anwar, who is here on a two-day working visit to Belgium, met with Kaja Kallas, the High Representative of the Union for Foreign Affairs and Security Policy cum Vice-President of the European Commission.

Anwar meets EU leaders to strengthen Malaysia-EU ties, regional cooperation

Two men, including a director of a government agency in Terengganu, have been remanded for six days, starting from Monday, on suspicion of soliciting and accepting a bribe of approximately RM900,000 in exchange for securing a project, preparing, and approving several development plans for a consultancy firm.

EVENING 5

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