The Securities Commission Malaysia (SC) said it is looking into a complaint filed by South Malaysia Industries Bhd (SMI), in which the group accused that some parties acting in concert violated the Capital Markets and Services Act 2007 (CMSA) in accumulating shares without making a mandatory general offer (MGO).

SC to look into SMI's complaint alleging breach of mandatory general offer requirements by parties acting in concert

KUALA LUMPUR (Sept 7): Boustead Naval Shipyard Sdn Bhd (BNS) has assured that there will be no major delays in the construction of littoral combat ships (LCS) despite its termination of two main contractors of the project.

No further delay in LCS project despite termination of contractors — BNS

KUALA LUMPUR (Sept 7): Malaysian semiconductors players’ latest quarterly results were largely mixed with growth of certain companies moderating, weighed by prolonged supply chain disruptions and the easing of consumer electronics demand from the pandemic high.

Malaysia’s semiconductor outlook turns cloudy after mixed 2Q earnings

KUALA LUMPUR (Sept 6): Boustead Heavy Industries Corp Bhd (BHIC) will not be penalised for mismanagement and irregularities related to the troubled littoral combat ship (LCS) project.

No penalty for BHIC over LCS mismanagement

KUALA LUMPUR (Sept 2): With the upsized dividend of RM50 billion from Petroliam Nasional Bhd (Petronas) this year, economists are optimistic that it will be sufficient to help fund the government’s subsidy bill, which is expected to eventually hit a whopping RM80 billion — the highest in history.

Additional RM25 bil dividend from Petronas can meet hefty subsidy bill, say economists

The number of reported cybercrime incidents in Malaysia has grown over time, especially with banks and their customers as targeted victims.

Cybercrime incidents on the rise in Malaysia, says Sophos

Electronic prescription telemedicine provider DOC2US aims to raise between US$8 million to US$10 million which will be utilised for research and development (R&D) in its e-pharmacy model, data analytics and human resources.

DOC2US seeks to raise US$8 million to US$10 million for expansion

Lim Hwee Bin, the wife of former Goldman Sachs banker Roger Ng Chong Hwa who is indicted in the United States (US), is scheduled to leave Malaysia and testify in her husband's defence next week.

Roger Ng's wife to travel to US next week to testify

In an exclusive interview, SEMI president and CEO Ajit Manocha (pictured) said the longer-term growth outlook is exceptional and exciting, with projections pointing to the industry more than doubling revenue to approximately US$1.3 trillion (RM5.43 trillion) by 2030.

Global semiconductor equipment materials industry revenue to hit US$1.3tril by 2030, says SEMI

KUALA LUMPUR (July 9): As the nation labours to move forward in fighting the coronavirus pandemic, Sunway Education Group announces exciting news for students with the opening of its Sunway International School’s new campus in January 2023.

Sunway Education Group’s new RM300 mil school campus to open in 2023

Sarawak and Sabah hold the ignominy of having the highest sales of illicit cigarettes in Malaysia which costs an estimated RM5 billion in tax revenue to the government annually.  

In an email response to theedgemarkets.com, Retail and Trade Brands Advocacy Malaysia (RTBA Malaysia) said that in Sarawak, illicit cigarettes made up 86.1% of market share versus legitimate cigarettes, while it is 81% in Sabah.

Sarawak, Sabah top spots for illicit cigarettes

Utusan Malaysia, the oldest Malay-language newspaper in the country, will carry on despite the operational shutdown of its former holding company Utusan Melayu (M) Bhd today, says the latter's executive chairman Datuk Abd Aziz Sheikh Fadzir.

"Utusan will live on. We are liquidating the holding company but the ownership of the printing licences [has] been acquired by Aurora Mulia and they will relaunch publications in the near future," Abdul Aziz told theedgemarkets.com.

'Utusan will live on,' says executive chairman

KAJ Development Sdn Bhd will resume two projects under the RM43 billion Melaka Gateway plan after the Transport Ministry allowed the company to appeal against the government's earlier decision to scrap the development.

Melaka Gateway developer to resume projects, withdraws suit

Telekom Malaysia Bhd (TM) said today the sale of non-core property assets, such as land and buildings, is consistent with the group's strategy to create long-term value shareholders by strengthening the balance sheet and focusing the company's portfolio on its core business that will drive growth.

TM: Non-core property asset sale to create long-term value for shareholders

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

Genting, JAKS Resources, KIP REIT, ITMAX, OSK Holdings, Kawan Food, Crescendo Corp, Cypark, FSBM, MMAG

SNS Network Technology Bhd (KL:SNS) has signed a three-year memorandum of understanding with Mimos Bhd to enhance software testing processes and drive innovation in artificial intelligence (AI).

SNS Network, Mimos partner to boost AI innovation and software testing capabilities

Wall Street's main indexes edged higher on Friday, with the S&P 500 and the Nasdaq touching intraday record highs as traders increased bets on a Federal Reserve rate cut this month following robust November payrolls data.

Wall Street climbs after monthly jobs data boosts December rate-cut bets

Things were already looking bad for Intel Corp shares this year. But the chipmaker’s sudden ouster of its chief executive officer has led to even more investors throwing in the towel.

Intel’s lack of a clear plan makes Wall Street even more bearish

A US federal appeals court on Friday upheld a law requiring Chinese-based ByteDance to divest its popular short video app TikTok in the United States by early next year or face a ban.

US appeals court upholds TikTok law forcing its sale

The flood situation in the country continued to improve as the number of flood evacuees in relief centres dropped steadily, with Terengganu fully recovering from flooding.

Flood situation continues to improve with number of evacuees dropping

Shareholders of Ubisoft Entertainment SA are considering how to structure a possible buyout of the Assassin's Creed video game maker without reducing the founding family's control, two people familiar with the matter told Reuters.

Ubisoft shareholders in talks over possible buyout terms — Reuters

Tanco Holdings Bhd (KL:TANCO) announced that its 79%-owned subsidiary, Midports Holdings Sdn Bhd (MHSB), is exploring a potential collaboration with Hong Kong-listed Cosco Shipping Ports Ltd for the operation and management of MHSB's proposed "smart AI container port project" in Port Dickson, Negeri Sembilan.

Tanco unit and HK-listed Cosco Shipping explore partnership to manage proposed Port Dickson AI port 

The European Union (EU) and the South American Mercosur bloc clinched a long-sought trade deal over the vehement objections of France, which has pledged to lead a charge to obstruct its ratification.

EU reaches long-sought Mercosur deal despite French objections

A weekly round-up of tanker and dry bulk market (Dec 6, 2024)

Baltic Exchange shipping updates: Dec 6, 2024

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

Frozen food manufacturer Kawan Food Bhd (KL:KAWAN) is venturing into the supply and distribution of information technology equipment via a joint venture with several individuals, including its founder cum major shareholder, and its current chairman.

Kawan Food ventures into IT equipment business via JV  

US job growth surged in November after being severely hindered by hurricanes and strikes, but a rise in the unemployment rate to 4.2% pointed to an easing labour market that should allow the Federal Reserve to cut interest rates again this month.

US job growth rebounds in November but unemployment rate ticks up

Tanco Holdings Bhd (KL:TANCO) announced that its 79%-owned subsidiary, Midports Holdings Sdn Bhd (MHSB), is exploring a potential collaboration with Hong Kong-listed Cosco Shipping Ports Ltd for the operation and management of MHSB's proposed "smart AI container port project" in Port Dickson, Negeri Sembilan.

Wall Street's main indexes edged higher on Friday, with the S&amp;P 500 and the Nasdaq touching intraday record highs as traders increased bets on a Federal Reserve rate cut this month following robust November payrolls data.

SNS Network Technology Bhd (KL:SNS) has signed a three-year memorandum of understanding with Mimos Bhd to enhance software testing processes and drive innovation in artificial intelligence (AI).

Things were already looking bad for Intel Corp shares this year. But the chipmaker’s sudden ouster of its chief executive officer has led to even more investors throwing in the towel.

A US federal appeals court on Friday upheld a law requiring Chinese-based ByteDance to divest its popular short video app TikTok in the United States by early next year or face a ban.

The flood situation in the country continued to improve as the number of flood evacuees in relief centres dropped steadily, with Terengganu fully recovering from flooding.

A weekly round-up of tanker and dry bulk market (Dec 6, 2024)

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Romania's top court annulled the result of the first round of the country's presidential election on Friday, adding that the entire election process would have to be rerun.

The second round had been due to be held on Sunday and voting is already underway in polling stations abroad.

Romanian top court annuls presidential election result, election to be rerun

Canadian automobile plants are set to produce about 1.3 million vehicles this year, the lowest level in decades outside the Covid pandemic, as US companies idle factories in the country amid slowing demand, according to a manufacturing think-tank.

Canadian auto production tumbles before Trump’s return as Detroit pulls back

EU antitrust regulators are asking Nvidia rivals and customers if the US artificial intelligence chipmaker bundles its products that may give it an unfair advantage, people with direct knowledge of the matter said, in a move that may lead to a formal investigation.

Nvidia's business practices in EU antitrust spotlight — Reuters

Shareholders of Ubisoft Entertainment SA are considering how to structure a possible buyout of the Assassin's Creed video game maker without reducing the founding family's control, two people familiar with the matter told Reuters.

Australian police said on Friday they were looking for two people suspected of deliberately starting a fire at a Melbourne synagogue that injured one and caused widespread damage.

The fire at the Adass Israel synagogue began early on Friday and police said the suspects were wearing masks.

Australian police looking for two suspects in arson attack on Melbourne synagogue

Canada's unemployment rate rose more than expected to 6.8% in November, a near-eight-year high excluding the pandemic years, even as the economy added a net 50,500 jobs, data showed on Friday, likely boosting chances of a large interest rate cut next week.

Canada's jobless rate jumps to near eight-year high of 6.8% in November 

Britain's Thames Water has received a joint bid from Covalis Capital and France's Suez Group as it seeks more than £3 billion (RM16.9 billion) of new equity, in the latest part of a rescue aimed at preventing its collapse.

UK investor Covalis, France's Suez team up to bid for Thames Water 

OpenAI is in discussions to ditch a provision that shuts Microsoft out of its most advanced models when the start-up achieves "artificial general intelligence", as it seeks to unlock billions of dollars of future investment, the Financial Times reported on Friday, citing people familiar with the matter.

OpenAI seeks to unlock investment by ditching 'AGI' clause with Microsoft — report

The European Union (EU) and the South American Mercosur bloc clinched a long-sought trade deal over the vehement objections of France, which has pledged to lead a charge to obstruct its ratification.

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