Cover Story: HeiTech Padu: Collaboration with Zetrix AI for NIISe project lapsed

IN 2017, Wong Thean Soon debuted at 33 on Forbes’ list of Malaysia’s richest with a net worth of US$330 million, based on his shareholdings in My E.G. Services Bhd, since renamed Zetrix AI Bhd (KL:ZETRIX).

Forbes said of Wong and Zetrix AI back then, “In 2000, he launched MyEG Services ...

Cover Story: What’s left in Zetrix AI?

ZETRIX AI Bhd (KL:ZETRIX) has become a rudderless ship given its highly fragmented shareholding structure.

Beyond the forced sell-down of its shares held by its managing director Wong Thean Soon, several other shareholders have sold down their holdings, according to the latest sharehold...

Cover Story: Rudderless, with no clear controlling shareholder

Summary


	The company started as MyEG Services Bhd, providing an e-payment gateway for government departments. It was a shining star until Ma...

Cover Story: How T S Wong lost Zetrix AI’s tech narrative

“The only thing worse than being blind is having sight but no vision.”  — Helen Keller (1880-1968), American author, disability rights advocate and political activist

 

I lost my eyesight temporarily recently — a condition so frightening, s...

Everyday Matters: A journey beyond the visible

Akiko walks home after work, grocery bags in both hands, when she catches sight of her cognitively impaired father-in-law wandering the street in the falling snow, with no overcoat and a vacant expression. When they reach home, she learns why no one had been watching over him: her mother-in-law h...

My Say: Crucial lessons from Japan on ageing and becoming an aged nation

THE Lees of IOI Corporation (KL:IOICORP), with its sprawling plantation and property interests, are a high-profile family in Malaysia. Until recently, IOI Properties Group (IOIPG), the conglomerate’s Bursa-listed property arm, had remained relatively unknown in Singapore. 

Just as ...

Singapore: IOI Properties Group tightens grip on Singapore’s CBD

FOUR years ago, OpenAI unveiled ChatGPT and unleashed an unprecedented artificial intelligence (AI) boom. For a lack of a better yardstick, the barometer S&P500 Index is up over 115% inclusive of reinvested dividends while the XLK, the State Street Technology Select Sector SPDR ETF, the large...

Tech: Coreweave and neocloud troubles won’t end the AI boom 

Summary

•    International machinery suppliers describe demand in Malaysia as subdued, while Vietnam is emerging as a key regional g...

Malaysia’s plastics industry stuck in the mould 

Summary


	Finance Minister II Datuk Seri Amir Hamzah Azizan said SST forces businesses to decide whether to absorb the tax or pass it on to c...

Special Report: SST makes businesses share the tax burden, says Amir Hamzah

Summary


	Putrajaya harnessing assets and institutional base to shore up domestic development-related investments
	Malaysia’s GDP growth could surpass China’s for fourth straight year ...

Special Report: Harnessing assets, institutional capacity to deliver tangible change faster

Fresh from promoting Malaysia to the world at the IMF-World Bank Group annual meeting in Bangkok (Oct 12 to 18) as head of the country’s delegation, Minister of Finance II Datuk Seri Amir Hamzah Azizan tells The Edge’s Cindy Yeap and Esther Lee more about Malaysi...

Special Report: Institutionalising reforms to build intergenerational wealth and long-term sustainability

“London, Rome, Paris and Berlin We will fight and we will win.”

 

The ghost of this clarion call of the 1968 protests in Europe has returned, although what was Vietnam then is Iran today.

Many other issues are also di...

My Say: World at war, Europe in turmoil

Markets are near record peaks in current stock markets, especially in the US. Many market pundits think that a bubble is already with us. We do not know when the bubble will peak, nor what will trigger the reversal, but history has given us a double top pattern in bubble behaviour that may be use...

Condivergence: Watch for the double top pattern that precedes a market crash

The Bank of England (BOE) raised interest rates for the first time in over three years on Thursday and warned that at least one more increase was likely if the US-Iran conflict continues, as it started on a path that its main peers have already embarked on.

Bank of England raises rates for first time since 2023, says more may come

A series of hoax bomb threats hit European airlines from Ireland to Bulgaria on Thursday morning for the second time this week, with some of at least 25 affected flights making unplanned landings or escorted by fighter jets.

New wave of bomb threats disrupts at least 25 flights across Europe

Fertility care specialist  Alpha IVF Group Bhd (KL:ALPHA) has secured approval from the Securities Commission Malaysia (SC) and Bursa Malaysia to transfer its listing from the ACE Market to the Main Market.

Alpha IVF gets SC, Bursa approval for Main Market transfer 

Russian President Vladimir Putin has placed the Russian assets of Japan Tobacco International (JTI) under temporary administration, a decree showed on Thursday, making it the latest foreign company to lose control of its local operations in a widening Kremlin crackdown.

Putin seizes control of Russian assets of Japan Tobacco

The dispute between Petroliam Nasional Bhd (PETRONAS) and Petroleum Sarawak Bhd (PETROS) is expected to be settled by year-end, according to Sarawak Premier Tan Sri Abang Johari Tun Openg.

PETRONAS-PETROS dispute to be settled by year-end, says Abang Johari

KUALA LUMPUR (Nov 5): TT Vision Holdings Bhd (KL:TTVHB) has secured a purchase order worth RM15.32 million for automated optical inspection equipment.

According to its bourse filing, the Penang-based vision equipment maker secured the purchase order from an unnamed global opto-semicondu...

TT Vision bags RM15.32 mil order for automated optical inspection equipment

Krispy Kreme Inc raised its revenue outlook for the year, showing that efforts to turn around the doughnut chain by refranchising and cutting costs are working.

Krispy Kreme raises revenue outlook as turnaround takes hold

Volkswagen AG is selling new green hybrid bonds with a roughly 2.5% spread premium over its senior debt, as the German carmaker struggles with a slump in demand in China and a costly restructuring.

VW to pay big premium in hybrid debt sale as carmaker struggles

Yinson Production Ltd continues to prefer the lease-and-operate model for its floating asset business, said its chief executive, even as more oil majors explore the turnkey model in recent years.

Yinson's floating rig business prefers leasing model despite market shift towards turnkey

Fraser & Neave Holdings Bhd (KL:F&N) reported an 18.2% increase in net profit to RM135.05 million for its fourth financial quarter, from RM114.29 million a year earlier, mainly due to lower tax expenses.

F&N 4Q net profit rises 18% on lower tax expenses, proposes 30 sen final dividend

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Summary

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	<li>The company started as MyEG Services Bhd, providing an e-payment gateway for government departments. It was a shining star until Ma...

Embattled Zetrix AI Bhd (KL:ZETRIX) has launched a digital identity service for artificial intelligence (AI) agents in partnership with China's Academy of Information and Communications Technology (CAICT), as it seeks to commercialise its AI-related investments following RM3.7 billion in development spending.

Embattled Zetrix AI launches AI agent identity service after RM3.7 bil development spending

Sunway Construction Group Bhd (KL:SUNCON) announced that it has won a RM1.74 billion contract to build a hyperscale data centre in Bandar Serendah, Selangor.

Sunway Construction wins RM1.74 bil contract to build another data centre in Selangor

Malaysia’s central bank stood pat again on Thursday as most expected, holding that the current benchmark interest rate matches its outlook on inflation and growth.

Bank Negara Malaysia holds policy rate steady

Home Minister Datuk Seri Saifuddin Nasution Ismail has been called upon to clarify Malaysian Border Control and Protection Agency (AKPS) director general Datuk Seri Mohd Shuhaily Mohd Zain's transfer back to the police force.

Lawyer urges home minister to clarify Shuhaily's transfer back to PDRM

IN 2017, Wong Thean Soon debuted at 33 on Forbes’ list of Malaysia’s richest with a net worth of US$330 million, based on his shareholdings in My E.G. Services Bhd, since renamed Zetrix AI Bhd (KL:ZETRIX).

Forbes said of Wong and Zetrix AI back then, “In 2000, he launched MyEG Services ...

MBSB Research has valued Main Market-bound Big Caring Group Bhd at RM1.20 a share, an 11.1% premium to its initial public offering (IPO) retail price of RM1.08, as it expects the pharmacy chain to deliver stronger earnings growth than its retail peers.

MBSB Research values Big Caring at 11% premium to IPO price, citing faster growth than retail peers

A consortium including the founding family of Yinson Holdings Bhd (KL:YINSON) is considering sweetening its bid to take the Kuala Lumpur-listed energy infrastructure company private, according to people familiar with the matter.&nbsp;

Consortium led by founding Lim family mulls higher offer to privatise Yinson — Bloomberg

Tanco Holdings Bhd's (KL:TANCO) joint venture with a unit of China Nuclear Industry Huaxing Construction Co Ltd has secured a RM700 million contract to build an industrial warehouse complex in Klang, Selangor.

Tanco-China builder JV bags RM700m warehouse contract in Klang

Japanese retail chain Daiso Malaysia Group Sdn Bhd has officially opened its RM1.2 billion Global Distribution Centre (GDC) at Taman Perindustrian Samudera, Pulau Indah, reinforcing Malaysia’s positioning as a premier regional supply chain and logistics hub.

Japan's Daiso opens its largest ever logistics hub in Pulau Indah

KUALA LUMPUR (Nov 5): The Railway Assets Corporation (RAC) is suing political activist Badrul Hisham Shaharin (also known as Chegubard) regarding the dissemination of statements allegedly defaming RAC and the Rolling Stock Strategy (RSS) initiative. &nbsp;

Railway Assets Corp takes legal action against Chegubard over alleged defamatory claims

ZETRIX AI Bhd (KL:ZETRIX) has become a rudderless ship given its highly fragmented shareholding structure.

Beyond the forced sell-down of its shares held by its managing director Wong Thean Soon, several other shareholders have sold down their holdings, according to the latest sharehold...

Lawyers for Datuk Seri Jamil Khir Baharom have indicated that they will be filling several applications including a challenge to the charges against the former minister in charge of Islamic affairs.

Jamil Khir's lawyer indicates filing of several applications, including challenge to Tabung Haji charges

Democrats vowed on Wednesday to use their resounding midterm victory to rein in US President Donald Trump, setting up two years of possible deadlock in Washington, as Trump spent his first post-election appearance showing off his under-construction White House ballroom.

Democrats flex congressional majorities as Trump accepts electoral losses

ViTrox Corporation Bhd (KL:VITROX) is upbeat after the semiconductor equipment maker posted its best quarter since listing in 2005, as higher volume drove down unit costs.

ViTrox posts best quarter since listing as volume surges, sees bright outlook

SD Guthrie Bhd (KL:SDG) reported a 17% decline in third-quarter earnings though the world’s largest palm oil producer by acreage is still confident of ending the year strong.

SD Guthrie reports 17% drop in 3Q earnings, says still on track for strong year

Muar Member of Parliament Syed Saddiq Syed Abdul Rahman is working to settle his suit with the prime minister and the government over the withheld parliamentary allocation for his constituency.

Syed Saddiq to settle suit against govt over withheld Muar allocation

Any pullback in technology stocks following the US midterm elections could present a buying opportunity, said BIMB Securities, which expects long-term demand for artificial intelligence (AI) infrastructure to persist.

BIMB says buy the dip in Malaysian tech stocks as AI demand remains intact

SD Guthrie Bhd (KL:SDG) has called on the government to consider temporarily waiving the crude palm oil (CPO) export duty as a measure to resolve the ongoing supply glut.

SD Guthrie calls for export duty waiver to resolve palm oil supply glut

KLANG (Nov 5): Malaysia is rapidly expanding its transport infrastructure across land, sea and air as it seeks to establish itself as a world-class logistics hub, Prime Minister Datuk Seri Anwar Ibrahim said.

Edge Weekly

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