Despite widespread concern that generative AI could interfere with major elections around the globe this year, the technology had limited impact across Meta Platforms' apps, the tech company said on Tuesday.

Meta says gen AI had muted impact on global elections this year

Cloudpoint Technology Bhd (KL:CLOUDPT) said it has secured a RM33.6 million contract to implement advanced integrated service management automation (ISMA) solutions from a local bank.

Cloudpoint Technology bags management automation solutions contract from local bank

AT&T expects its free cash flow to be more than US$18 billion (RM80.4 billion) in 2027, the company said on Tuesday as it detailed a three-year vision for the business to expand its 5G and fiber services across the United States.

AT&T expects over US$18b in free cash flow in 2027, driven by 5G and fibre expansion

Intel former CEO Pat Gelsinger could get as much as US$12 million (RM53.6 million) as payout, a regulatory filing showed on Tuesday, following his ouster from the struggling US chipmaker.

Intel's ousted CEO Gelsinger to receive up to US$12m payout

Indonesia is expecting to get a US$1 billion (RM4.47 billion) investment commitment from tech firm Apple Inc in a week, its investment minister said on Tuesday, after the government banned iPhone 16 sales for failing to meet local content rules.

Indonesia expects US$1b investment commitment from Apple in a week, in response to iPhone 16 sales ban

Computer chip equipment maker ASML said it does not expect new US restrictions on semiconductor exports to China, announced on Monday, to affect its most recent financial guidance.

ASML not changing guidance after new US crackdown on Chinese chip exports

KUALA LUMPUR (Dec 3): Malaysia’s digital talent salary growth is projected to stabilise at 7.1% this year and 7.12% in 2025, said the National Tech Association of Malaysia (Pikom).

Pikom: Salaries of local talents stabilising at healthy rates against growing digital economy

Microchip Technology Inc, a maker of chips for cars, consumer devices and other products, said it would close a plant in Tempe, Arizona, affecting about 500 employees.

Microchip says it will shut Arizona plant

Malaysia has recorded 17.5 million users of 5G services to date, covering over 82% of populated areas nationwide, according to Digital Minister Gobind Singh Deo.

“The ministry, through Digital Nasional Berhad (DNB), has provided and will continue to provide 5G infrastructure. The high number of users indicates a strong interest in this technology.

17.5 million 5G users in Malaysia — Gobind

Amazon Web Services (AWS) anticipates strong growth in its cloud services business, driven by the adoption of generative artificial intelligence (Gen-AI) that will further enhance the digital economy across the Asean region.

AWS Asean managing director Jeff Johnson highlighted that the company is focusing on three main areas to help create the digital future needed in the region — security, inclusivity, and sustainability.

AWS sees strong growth in Asean cloud services market

KUALA LUMPUR (Dec 3): JF Technology Bhd (KL:JFTECH) is set to begin selling and distributing its products in the US by January 2025, following a cross-licensing agreement signed with US-based Ironwood Electronics in July.

JF Technology to begin selling in US by January 2025

Amazon Web Services (AWS) on Monday announced that Mesolitica, a Malaysian startup specialising in training large language models (LLMs), has built a Malay-language generative artificial intelligence (GenAI) LLM called MaLLaM on its cloud services.

The MaLLaM can understand local nuances, such as slang and colloquialisms that merge different dialects, Bahasa Melayu, and 16 other regional languages, for use in AI-assistants across industries.

AWS announces GenAI large language model in Malay built by Malaysian startup on its cloud services

A joint venture between Samsung SDI Co and Stellantis NV to create battery manufacturing plants in Indiana is being offered US$7.5 billion (RM33.5 billion) in financing from the Biden administration.

Biden offers US$7.5b for Samsung SDI-Stellantis hub

SpaceX is in discussions to sell insider shares that could boost the value of Elon Musk’s rocket and satellite company to around US$350 billion (RM1.56 trillion), according to people familiar with the matter.

SpaceX weighing tender offer at roughly US$350b valuation, cementing it as world's most valuable private startup — Bloomberg

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

Binastra Corp, Mah Sing, T7 Global, JF Technology, VS Industry, Solarvest Holdings, Magni-Tech Industries

Financially distressed MMAG Holdings Bhd (KL:MMAG) has taken a step forward in its recovery efforts by securing a partnership with Malaysia Airlines Bhd.

MMAG signs deal to serve as MASKargo's exclusive freighter operator

Wall Street's main indexes were subdued in choppy trading on Tuesday after the S&P 500 and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials.

Wall Street muted with focus on more data, US Fed commentary

US job openings increased moderately in October while layoffs declined, suggesting the labour market continued to slow in an orderly fashion.

US job openings rise in October, layoffs decrease

Singapore and Australia agreed on Tuesday to seek opportunities for increased access to their respective defence facilities, including more frequent Australian visits to the city-state's air force and navy bases.

Australia, Singapore agree to seek expanded access to their defence facilities

Chinese companies should be wary of buying US chips as they are "no longer safe" and buy locally instead, four of the country's top industry associations said on Tuesday in a rare coordinated response to Washington's curbs on Chinese chipmakers.

US chips are 'no longer safe,' Chinese industry bodies say in latest trade salvo

Investment company Abrdn plc, formerly known as Aberdeen Asset Management plc, has emerged as a substantial shareholder in Feytech Holdings Bhd (KL:FEYTECH), after raising its stake to 5.21% or 43.91 million shares.

Abrdn emerges as substantial shareholder in Feytech

The founding couple of FashionValet Sdn Bhd (FashionValet), who have been linked to the investment losses of Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), will be charged at the Kuala Lumpur Sessions Court on Thursday.

FashionValet founders to be charged on Thursday, says MACC chief

Vietnamese tycoon Truong My Lan has lost her appeal against the death sentence handed down in April for masterminding the country’s largest-ever fraud scandal.

Vietnamese tycoon loses death penalty appeal over fraud scandal

China has banned exports to the US of items related to the minerals gallium, germanium and antimony that have potential military applications, its commerce ministry said on Tuesday, a day after Washington's latest crackdown on China's chip sector.

China bans export of key minerals to US as trade frictions escalate

Mah Sing Group Bhd (KL:MAHSING) is acquiring 59.12 acres (23.93 hectares) of prime land in the Pulai district of Johor Bahru for RM62.98 million, which will be developed into super-linked homes with an estimated gross development value (GDV) of RM463 million.

Mah Sing buys Johor Bahru land for township project with GDV of RM463 mil

Construction outfit Binastra Corp Bhd (KL:BNASTRA) on Tuesday said it had bagged a building contract worth RM327.74 million to build two blocks of a 58-storey serviced apartment for The Vividz @ Bukit Jalil project.

Binastra wins RM328m building contract for Bukit Jalil serviced apartment

The Malaysian Meteorological Department (MetMalaysia) has issued a weather warning for thunderstorms, heavy rain and strong winds in eight states, expected to continue until late this afternoon.

In a statement, MetMalaysia said the adverse weather conditions are also forecast to affect the Federal Territories of Kuala Lumpur and Putrajaya.

Thunderstorms, heavy rain, strong winds expected in eight states — MetMalaysia

Analysts have revised their earnings forecasts for Malaysian stocks and trimmed the year-end target for the benchmark FBM KLCI following mixed results across sectors in the July-September quarter (3Q2024).

In a note, UOB Kay Hian has trimmed earnings forecasts for the FBM KLCI by 0.8% for 2024 and 1.7% for 2025, driven by downgrades in the plantation and consumer sectors and weakness in the oil and gas shipping segment.

Analysts revise KLCI growth forecast after mixed 3Q, cut year-end target

Amazon Web Services (AWS) on Monday announced that Mesolitica, a Malaysian startup specialising in training large language models (LLMs), has built a Malay-language generative artificial intelligence (GenAI) LLM called MaLLaM on its cloud services.

The MaLLaM can understand local nuances, such as slang and colloquialisms that merge different dialects, Bahasa Melayu, and 16 other regional languages, for use in AI-assistants across industries.

KUALA LUMPUR (Dec 3): JF Technology Bhd (KL:JFTECH) is set to begin selling and distributing its products in the US by January 2025, following a cross-licensing agreement signed with US-based Ironwood Electronics in July.&nbsp;

KUALA LUMPUR (Dec 3): Sime Darby Property Bhd’s (KL:SIMEPROP) two recent launches — JUMPA @ Elmina Valley and Kanopi — have recorded strong take-up rates, according to a media statement by the developer on Friday (Nov 29). &nbsp;

Strong take-ups for Sime Darby Property’s recent launches in Elmina City Centre, Shah Alam

South Korean President Yoon Suk Yeol on Tuesday declared martial law in a surprise late-night TV address, slamming domestic political opponents and sending shockwaves through the country.

South Korea President Yoon declares martial law, slams domestic opponents 

(Dec 3):&nbsp;Cargill Inc&nbsp;is cutting thousands of jobs globally, after the largest privately held company in the US missed profit targets.

Cargill to cut thousands of jobs globally as profits shrink

The founding couple of FashionValet Sdn Bhd (FashionValet), who have been linked to the investment losses of Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), will be charged at the Kuala Lumpur Sessions Court on Thursday.

Indonesia is expecting to get a US$1 billion (RM4.47 billion)&nbsp;investment commitment from tech firm&nbsp;Apple&nbsp;Inc&nbsp;in a week, its investment minister said on Tuesday, after the government banned iPhone 16 sales for failing to meet local content rules.

Datuk Seri Najib Razak took aim at Malaysian Anti-Corruption Commission (MACC) investigating officer (IO) Nur Aida Arifin’s testimony, saying that her assertions were “deranged”, “deluded” and coming from someone “unversed” with diplomacy.

Najib: MACC IO deranged, deluded and unversed with diplomacy to suggest I had G2G meeting on yacht 

Lawyer and former de-facto law minister Datuk Zaid Ibrahim said the then Malaysian Bar president Karen Cheah Yee Lynn should have asked him and his partners, Liew Teck Huat and Rueben Mathiavaranam, for their views before issuing a statement on Aug 19, 2022, complaining of their conduct in former prime minister Datuk Seri Najib Razak’s final appeal in the SRC International Sdn Bhd criminal case.

Zaid Ibrahim says past Bar president ‘jumped the gun’ to issue statement against him and law partners

(Dec 3):&nbsp;Oil major Exxon Mobil Corp&nbsp;is considering a sale of its gas stations in Singapore, which could raise about US$1 billion (RM4.46 billion), according to people familiar with the matter.

Exxon said to weigh sale of US$1b Singapore gas stations — Bloomberg

Datuk Seri Najib Razak said that he was not sure how fugitive businessman Low Taek Jho (Jho Low) obtained his personal mobile phone number, but because he was the prime minister back then, many Malaysians would have the phone number.

1MDB-Tanore: Najib unsure how Jho Low obtained his mobile number

Vehicle owners must be more attentive to announcements regarding recall for inspection by the Road Transport Department (JPJ), said Transport Minister Anthony Loke.

Vehicle owners told to take JPJ’s recall announcements seriously 

VS Industry Bhd’s latest quarterly net profit dropped 37.53%, mainly due to lower sales orders from existing customers, unfavourable foreign exchange (forex) rates and higher labour costs as a result of an increase in headcount.

VS Industry’s 1Q net profit drops 38% on lower sales orders; declares 0.4 sen dividend 

NAGA 5, one of six jack-up drilling rigs belonging to Velesto Energy Bhd (KL:VELESTO), is in its 55-day major maintenance programme at a Seatrium Ltd-owned shipyard in Tuas, Singapore.

Another two jack-up rigs, Naga 3 and Naga 8, are scheduled for drying dock in the first half of next y...

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