At their recent summit in San Francisco, US President Joe Biden and China’s President Xi Jinping made progress in a few key areas. Notably, they agreed to resume direct military-to-military communications — which China had suspended last year following a visit by then-Speaker of the House of Repr...

Asia In The World Economy: China’s self-inflicted economic wounds

STEEL players have welcomed the government’s decision to impose a two-year moratorium on all expansion and diversification of manufacturing activities in the iron and steel industry, saying the move will allow them to reconfigure their businesses.

The government is also considering exem...

Cover Story: Steelmakers welcome government’s two-year moratorium on long products

TAN Sri David Law Tien Seng mines for fortune through his mining businesses in Australia and forges wealth through his steel businesses in Malaysia.

Nonetheless, Law is no different from any traditional businessman who believes that land is a scarce resource — something necessary for we...

Cover Story: TS Law Group making its presence felt in KL property scene

LOW-profile tycoon Tan Sri David Law Tien Seng, better known as T S Law, certainly has a colourful background. About two decades ago, he faced challenges that led him to relocate to Australia, where he was fortunate enough to have amassed considerable wealth through his mining ventures.

Cover Story: Law: ‘I couldn’t be more satisfied with what I have today’ 

AT a time when most steel millers making long products are finding ways to stay above water as the weak demand is coupled with overcapacity in Southeast Asia, Tan Sri David Law Tien Seng celebrated the completion of Eastern Steel Sdn Bhd’s (ESSB) Phase 2 expansion at its integrated plant in Kemam...

Cover Story: Steel going strong

Well, that’s one way to spice up an international break! The 10-point deduction the English Premier League (EPL) imposed on Everton has been the talk of football even though no club games were being played.

But the headlines were less about what it might mean for Liverpool’s neighbours ...

Business Of Sports: Everton sanction could be bad news for City and Chelsea

How many times have we bought a cup of coffee much larger than what we need simply because it was only slightly more expensive? Or looked at our long “to-do” lists and decide that the next course of action would be to take a quick nap?

These are just some of the many behavioural biases ...

My Say: Behavioural interventions: Nudging Malaysia towards retirement adequacy

SO seriously does LGMS Bhd take cybersecurity that a user’s site is vetted before he or she can even access its website.

“Checking if site connection is secure …”, its web page states as a scan is conducted for a few seconds before a user is allowed access, ostensibly as no virus or mal...

LGMS to expand reach in non-core markets

The survival of natural rubber as a smallholder crop is in doubt due to the depressed rubber prices seen over the last couple of years. Rubber smallholders, due to poor incomes from the sale of rubber, are finding it very difficult to survive economically. They have no control whatsoever over rub...

My Say: Cultivating rubber smallholders for the good of the planet

I am hopeful that the upcoming COP 28 climate summit will give nature the role it deserves in our fight against climate change.

The COP 28 Presidency’s Action Agenda is ambitious and to the point, with a focus on fast-tracking the energy transition by slashing emissions before 2030. Imp...

Climate And Environmental Governance: Let’s put nature at the heart of our climate plans

THE odds were stacked against legacy airlines brave enough to launch an in-house low-cost carrier (LCC). Many shuttered their low-cost arm within a few years of inception because of their distinctly different strategies and business models. However, Singapore Airlines Ltd (SIA) and its wholly-own...

The ‘unlikely’ pair that fly in the face of the odds 

SHELL, the country’s second largest oil and gas (O&G) producer, intends to keep its “very, very strong” presence in this market, which represents one of nine core countries in the oil major’s portfolio, says country chair Siti Hurrairah Sulaiman, who took the role in December last year.
...

Shell ‘absolutely prepared’ to explore deeper Malaysian waters

NationGate Holdings Bhd

Target price: RM1.83 BUY

Brokers Digest: Local Equities - NationGate Holdings Bhd, Ranhill Utilities Bhd, Genting Bhd, Dialog Group Bhd

Notable filings

From Nov 6 to 10, notable shareholding changes at Bursa Malaysia-listed companies included those at Ranhill Utilities Bhd, which had seen the emergence of YTL Power International Bhd with 243.3 million shares, or an 18.87% stake, on Nov 1.

A ...

Insider Moves: Ranhill Utilities Bhd, BSL Corp Bhd, Sunway Bhd, Salcon Bhd

A weekly round-up of tanker and dry bulk market (Dec 1, 2023)

Baltic Exchange shipping updates: Dec 1, 2023

Mining firm OM Holdings Ltd, which is dual-listed on Bursa Malaysia and the Australian Stock Exchange, has issued 27.63 million shares, representing a 3.75% stake, in the company to JFE Shoji Corp for A$13.04 million (about RM40.34 million) or A$0.472 sen per share.

Japan-based JFE Shoji takes up 3.75% stake in OM Holdings

The daily usage of public transport provided by Prasarana Malaysia Berhad (Prasarana) has increased consistently following the Covid-19 pandemic, with an average of 1.1 million passengers recorded per day as of Thursday.

Prasarana in a statement said that of the total, Rapid Rail Sdn Bhd (Rapid Rail) services which include LRT, MRT and Monorail recorded an average daily usage rate of 835,119 passengers, while the average usage of Rapid Bus Sdn Bhd (Rapid Bus) services was 258,710.

Prasarana: Public transport usage on the rise, average of 1.1 million commuters per day

A man was arrested on Thursday on suspicion of posting criminal threats against Prime Minister Datuk Seri Anwar Ibrahim on social media.

Man arrested over criminal threats against PM

KUALA LUMPUR (Dec 1): Dutaland Bhd has appointed the 13th chief justice of Malaysia, Tun Ariffin Zakaria as its new chairman, effective immediately.

Tun Ariffin was chief justice from Sept 2011 to March 2017.

In a local exchange filing on Friday, the property developer sa...

Dutaland appoints ex-chief justice Tun Arifin Zakaria as new chairman

Citaglobal Bhd, in which the Yang di-Pertuan Agong Sultan Abdullah Sultan Ahmad Shah is a substantial shareholder, has together with its consortium partner TIZA Global Sdn Bhd, executed a 40:60 joint development agreement with clean energy player Abu Dhabi Future Energy Company PJSC (Masdar) for a two-gigawatt (2GW) solar farm project in Pahang for US$2 billion (RM9.75 billion).

Under the deal, Citaglobal and TIZA will hold a 40% equity interest in the project, with the remaining 60% held by Masdar. The parties will put in funding for the project's development's cost — which will be determined later — in proportion to their stake in the project.

Citaglobal executes agreement with Abu Dhabi energy firm to develop solar farm in Pahang worth US$2 billion

After seven turbulent years in Nepal, Axiata Group Bhd is selling its stake in Ncell Axiata Bhd by disposing of its shares in Reynolds Holdings Ltd, which holds an 80% stake in Ncell Axiata, and exiting the country.

Axiata sells Ncell stake and exits Nepal, cites unfair taxation and unfavourable foreign investor protection

Five local mobile network operators have finally executed their share subscription agreements to take up equity stakes in Digital National Bhd.

NEWS: DNB finalises share deal with five telcos

Country Heights Holdings Bhd has appointed its deputy managing director Dr Ricky Yip Chun Mun as the new acting MD effective Friday (Dec 1).

The appointment follows the recent stepping down of Datuk Mircle Yap Ching Chai, who will now serve as a non-independent non-executive director of the group, the property developer said in a statement.

Country Heights promotes deputy MD to acting MD

Bintai Kinden Corporation Bhd has proposed to undertake a private placement of up to 281.54 million shares, or 30% of its issued share capital, to third-party investors who have yet to be identified.

Bintai Kinden proposes private placement to raise RM19.71m for working capital 

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week.

Most read this week

Prime Minister Datuk Seri Anwar Ibrahim on Friday registered with the National Digital Identity or Digital ID, making him the first person in the country to have&nbsp;the Digital ID facility.

Anwar first to have Digital ID in Malaysia

A client of Malaysia’s biggest bank recently discovered that her bank balance had mysteriously increased to more than US$86 million (RM404 million).

Woman discovers over RM404m mistakenly deposited in Maybank account

After ditching the airasia Superapp name and rebranding as Move in September, Capital A Bhd’s digital arm wants to become an established and widely recognised online travel agency in Southeast Asia.&nbsp;

Move CEO wants travel brand recognition in post-AirAsia era

Petroliam Nasional Bhd (Petronas) and its petroleum arrangement contractors have recorded 19 exploration discoveries and two exploration-appraisal successes, contributing over one billion barrels of oil equivalent (bboe) of new resources for Malaysia in 2023.

Petronas finds over 1 bil barrels of oil equivalent exploration discoveries in 2023

Banking and financial services stocks were among the top gainers in early morning trade on Friday, after they concluded the latest earnings reporting season with mostly encouraging&nbsp;results.

Banking stocks among top gainers in early trade

Digital Nasional Bhd (DNB) is to be 70%-owned by five local mobile network operators (MNOs), while the remaining 30% will be retained by Putrajaya, accompanied by a golden share, according to Communications and Digital Minister Fahmi Fadzil.

Five telcos to collectively own 70% stake in DNB; Putrajaya to retain 30% plus golden share

BEIJING (Dec 1): Malaysia&nbsp;has invited China’s President Xi Jingping to visit, its ambassador to Beijing said on Friday, as the Southeast Asian country also seeks to boost the number of Chinese tourists to five million a year, to fuel economic growth.

Malaysia invites China’s Xi to visit, ramps up tourism target

The defence in Datuk Seri Najib Razak’s second SRC International Sdn Bhd case on Friday applied for the former prime minister to be given a discharge not amounting to acquittal in the ongoing money-laundering case, as the attorney general had not made a decision over the representation letter submitted in July.

Defence applies to discharge Najib in second SRC case

Apex Healthcare Bhd has proposed to acquire industrial land in Melaka for RM66.5 million, its Bursa Malaysia filing showed on Friday.

The group said its wholly owned subsidiary Xepa-Soul Pattinson (Malaysia) Sdn Bhd had entered into a sale and purchase agreement with Panasonic Appliances Refrigeration Devices Malaysia Sdn Bhd (PAPRDMY) for the proposed acquisition.

Apex Healthcare to acquire industrial land in Melaka for RM66.5 mil

Prime Minister Datuk Seri Anwar Ibrahim on Friday stressed that the people's concerns&nbsp;over the implementation of the National Digital Identity or&nbsp;Digital ID, such as personal and banking records being leaked and chips implanted into the bodies of individuals, are completely unfounded.

Digital ID concerns such as personal data leaks and chip implants unfounded, says Anwar

KUALA LUMPUR (Nov 30): Analysts are expecting wider losses for Capital A Bhd for the financial year ending Dec&nbsp;31, 2023 (FY2023), after its recent nine-month results missed consensus, in line with lower-than-expected rebound in air travel.

Analysts expect wider losses for FY2023 after Capital A’s 9M earnings missed expectations

Global commercial real estate and investment management company JLL has announced the retirement of JLL Property Services (Malaysia) chairperson YY Lau, and a new strategic partnership with Appraisal Malaysia, a domestic real estate firm with over 50 years of valuations, consultancy and advisory services expertise, according to a press release issued on Friday.

JLL announces retirement of country head YY Lau, new partnership with Appraisal Malaysia

Hong Leong Investment Bank (HLIB) has maintained its “buy” call on IHH Healthcare Bhd, with a target price of RM7.62, as it continued to favour IHH for its resilience in a defensive sector and positioning to benefit from global megatrends, such as an ageing population.

IHH Healthcare poised to benefit from megatrends such as ageing population, says HLIB

(Dec 1): President Vladimir Putin has ordered the transfer of all the rights to managing St&nbsp;Petersburg’s Pulkovo airport from foreign shareholders that include Germany’s Fraport AG and the Qatari wealth fund by shifting their stakes into a new Russian entity.

Under a decree publish...

Putin seizes rights to St Petersburg Airport from foreign investors

KUALA LUMPUR (Dec 1): Bursa Malaysia ended the morning session flat&nbsp;on Friday, as buying interest in selected heavyweight stocks&nbsp;was offset by selling in the mid- and lower liners, while worries over China’s economy further dampened sentiment,&nbsp;a dealer said.&nbsp;

Bursa Malaysia flat at midday break as China worries weigh on sentiment

Bursa Malaysia Bhd on Friday launched the IR4U programme, a comprehensive programme to support and enhance the standards and capabilities of investor relations (IR) practices&nbsp;to raise the visibility and investability of Malaysian&nbsp;listed companies.

Bursa launches IR4U programme to support, enhance investor relations practices

Alibaba Group Holding Ltd received a rare downgrade from Wall Street on the same day it lost its crown as China’s most valuable e-commerce firm to one of its main rivals.

Morgan Stanley cut its rating on Alibaba’s American depositary receipts to equal-weight from overweight, lowering its price target to US$90 (RM420.93) from US$110.

Alibaba gets rare Wall Street downgrade as rival gains traction

KUALA LUMPUR (Dec 1): RHB Investment Bank Research&nbsp;(RHB IB) has upgraded its rating on IJM Corp&nbsp;Bhd&nbsp;(IJM) to “buy”, with a higher target price of RM2.21 (previously RM1.99) based on sum-of-the-parts valuation, following the group’s better-than-expected financial performance in the first half of&nbsp;financial year&nbsp;ended Sept 30, 2023 (1HFY2024).&nbsp;

RHB IB upgrades IJM Corp on strong earnings and prospects, raises target price to RM2.21

A media statement by Dr&nbsp;Ong Kian Ming, a former deputy international trade and industry minister, on Dec 1, 2023.

Edge Weekly

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Edge Weekly

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