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

Azerbaijan Airlines said the crash of its passenger plane in Kazakhstan that killed 38 people this week was caused by “external interference.”

Azerbaijan Airlines pauses over half of flights to Russia after crash

Terraform Labs Pte Ltd co-founder Do Kwon will be handed over to the US for prosecution, the government of Montenegro said, potentially ending a standoff over competing extradition demands by the US and Kwon’s native South Korea.

Crypto mogul Do Kwon to be extradited to US, Montenegro says

President-elect Donald Trump thrust himself into the high-stakes fight over the fate of TikTok in the US by urging the Supreme Court to pause a law that would ban the social media platform if it isn’t sold by its Chinese parent company.

Trump asks Supreme Court to pause law threatening TikTok ban

After closing the books on a banner year for US stocks, investors expect to ride seasonal momentum into mid-January when a slew of economic data and a transition of power in Washington could send markets moving.

Trump's first actions and job data to test US market in January

US stocks wrapped up Christmas week on Friday with retracements of double-digit uptrends, and, alongside the dollar to a smaller degree, succumbed to profit taking in illiquid markets heading into the last weekend of 2024.

Stocks hit, dollar slips in illiquid year-end profit taking

Oil prices settled more than 1% higher on Friday and recorded a weekly gain in low trading volume ahead of year-end, buoyed by a larger-than-expected drawdown from US crude inventories last week.

Oil settles up over 1% on large draw from US crude stocks

Wall Street's holiday cheer ended abruptly on Friday, with all three main benchmarks closing lower in a broad-based sell-off affecting even tech and growth stocks that had driven markets higher through much of the shortened trading week.

Wall Street finishes down after sell-off at end of strong holiday-shortened week

SCGM Bhd's (KL:SCGM) substantial shareholders are to inject their agriculture-related business into the cash company in return for RM207.94 million worth of shares as part of the company's regularisation plan.

SCGM formalises injection of agriculture business, proposes 25 sen special dividend 

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

ViTrox, Kim Loong Resources, Crescendo, JcbNext, OCB, Paragon Globe, Tropicana, Asia Poly, Nova MSC, PUC, SCGM

A mystery seller is asking US$200 million (RM893.43 million) for an empty waterfront lot next door to the properties Jeff Bezos bought in South Florida.

The roughly 1.84 acre lot (0.74 hectare) is located at Indian Creek, a man-made barrier island that’s been dubbed “Billionaire Bunker.” Ilya Reznik, who’s brokering the transaction, declined to identify the seller but said they are “willing to negotiate” on price.

Bezos’ Miami neighbour seeking US$200 mil for empty lot

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

SCGM Bhd's (KL:SCGM) substantial shareholders are to inject their agriculture-related business into the cash company in return for RM207.94 million worth of shares as part of the company's regularisation plan.

Wall Street's holiday cheer ended abruptly on Friday, with all three main benchmarks closing lower in a broad-based sell-off affecting even tech and growth stocks that had driven markets higher through much of the shortened trading week.

A mystery seller is asking US$200 million (RM893.43 million) for an empty waterfront lot next door to the properties Jeff Bezos bought in South Florida.

The roughly 1.84 acre lot (0.74 hectare) is located at Indian Creek, a man-made barrier island that’s been dubbed “Billionaire Bunker.” Ilya Reznik, who’s brokering the transaction, declined to identify the seller but said they are “willing to negotiate” on price.

Shell has shut down one of its oil processing units at the Shell Energy and Chemicals Park on Singapore’s Pulau Bukom to facilitate an investigation into a suspected leak in the system.

Shell shuts down oil processing unit at Singapore's Pulau Bukom to probe leak

Vietnamese Prime Minister Pham Minh Chinh instructed the investment ministry and other authorities to work on development scenarios and measures that will enable the country to attain “double-digit” growth in gross domestic product next year.

Vietnam PM seeks steps for double-digit GDP growth next year

President-elect Donald Trump thrust himself into the high-stakes fight over the fate of TikTok in the US by urging the Supreme Court to pause a law that would ban the social media platform if it isn’t sold by its Chinese parent company.

Brazil’s annual inflation unexpectedly slowed in early December as energy costs dropped, giving central bankers limited relief as they pledge two more jumbo interest rate hikes by March.

Official data released on Friday showed consumer prices rose 4.71% from a year earlier, below the 4.83% median estimate in a Bloomberg survey of economists and the prior reading of 4.77%.

Brazil’s annual inflation unexpectedly slows, giving central bank limited respite

After closing the books on a banner year for US stocks, investors expect to ride seasonal momentum into mid-January when a slew of economic data and a transition of power in Washington could send markets moving.

Terraform Labs Pte Ltd co-founder Do Kwon will be handed over to the US for prosecution, the government of Montenegro said, potentially ending a standoff over competing extradition demands by the US and Kwon’s native South Korea.

Azerbaijan Airlines said the crash of its passenger plane in Kazakhstan that killed 38 people this week was caused by “external interference.”

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