Agrochemical businessman Datuk Eddie Ong Choo Meng has emerged as a substantial shareholder in Hektar Real Estate Investment Trust (Hektar REIT), after acquiring a 28.462% stake, or 143.9 million shares, in the company.

Eddie Ong buys into Hektar REIT, says no plan to merge with KIP REIT for now

In a surprise move, Swiss-based multinational investment bank UBS Group has emerged as a substantial shareholder in Boustead Plantations Bhd (BPlant), which is in the midst of being privatised, with a 5.36% stake, or 120.06 million shares.

UBS Group emerges as substantial shareholder in Boustead Plantation amid privatisation 

KUALA LUMPUR (Dec 6): Gamuda Bhd’s Singapore branch (GBSG), an operating unit of the group, has secured a S$509.568 million (RM1.77 billion) design and construction contract for the West Coast station and tunnel.

Gamuda bags RM1.77 bil Singapore MRT project

KUALA LUMPUR (Dec 6): Property developer IOI Properties Group Bhd plans to acquire five-star hotel W Kuala Lumpur (W KL) in Jalan Ampang, KL for RM270 million, cash, from property group Tropicana Corp Bhd.

IOI Properties to buy W Kuala Lumpur hotel from Tropicana for RM270 mil cash

Malaysia's tourism sector is anticipated to fully recover by next year, with the number of tourist arrivals seen surpassing pre-Covid-19 levels, driven by better flight connectivity and increased visitors from China and India, said Tourism Malaysia deputy director general (promotion) Datuk Musa Yusof.

Malaysia’s 2024 tourist arrivals expected to surpass pre-Covid-19 levels — Tourism Malaysia

A total of 6.5 million eMadani credit assistance applications have been approved and credited to recipients, involving an allocation of RM650 million thus far, according to Deputy Finance Minister I Datuk Seri Ahmad Maslan.

Ahmad Maslan says 6.5 million eMadani applications approved, RM650m credited

MyEG Lodging (NC) Sdn Bhd, a subsidiary of e-government service provider MyEG Services Bhd, has signed a 30-year lease agreement with Penang Development Corp (PDC) to develop a foreign workers' village project worth RM108 million.

MyEG inks deal with PDC to develop RM108m foreign workers' village

The government’s initiative for digital identification — dubbed MyDigital ID — is expected to be made available for the general public by July next year, according to Mimos Bhd chief techno-venture Dr Saat Shukri Embong.

MyDigital ID to be made available to public by July 2024, says Mimos 

The High Court here on Wednesday granted a permanent injunction sought by Berjaya Land Bhd (BLand) and Berjaya Group founder Tan Sri Vincent Tan against Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor, which prohibits the PAS politician from repeating his comments with regard to the Selangor Maritime Gateway project until the disposal of the defamation suit against him.

Court prohibits Sanusi from repeating Selangor Maritime Gateway comments until disposal of suit filed by BLand, Vincent Tan

A blackout at Johor Bahru's Customs, Immigration, and Quarantine Complex (CIQ) that went on for at least 11 hours was an "embarrassment", said Johor Menteri Besar Datuk Onn Hafiz Ghazi on Wednesday.

'Embarrassment to the state', says Johor MB after hours-long blackout hit Causeway checkpoint

The Securities Commission Malaysia (SC) is seeking to introduce a streamlined transfer mechanism that will enable qualifying ACE Market companies to transfer to the Main Market beginning in 2024, said its chairman Datuk Seri Dr Awang Adek Hussin.

SC to debut streamlined transfer mechanism to Main Market — chairman

MSM Malaysia Holdings Bhd expects a better financial year in the year ending Dec 31, 2024 (FY2024).

Group chief executive officer Syed Feizal Syed Mohammad said the sugar refiner is taking steps to reduce its losses, while the industry is anticipated to turn around soon.

MSM anticipates a more prosperous financial year in 2024, says group CEO

Malaysia was not spared from the decline in educational performance, due to learning disruptions caused by the Covid-19 pandemic, according to the Organisation for Economic Cooperation and Development’s (OECD) Programme for International Student Assessment (Pisa) 2022.

Malaysia’s educational performance declined in 2022, in line with pandemic impact — OECD's Pisa report

On Oct 6, 2023, the Malaysian Anti-Corruption Commission (MACC) attempted to conduct an illegal raid at the law office of Rosli Dahlan Saravana Partnership (RDS). I notified the MACC officers of the illegality of their conduct under Section 46 of their own MACC Act.

MACC had to withdraw vexatious and fundamentally flawed application, says lawyer Rosli Dahlan

Here is a brief recap of some corporate announcements that made the news on Wednesday: Gamuda Bhd, Boustead Plantations Bhd, LB Aluminium Bhd, Comintel Corp Bhd, IOI Properties Group Bhd, Malaysian Pacific Industries Bhd, Hiap Teck Ventures Bhd, Heitech Padu Bhd, Sime Darby Bhd, MyEG Services Bhd, UMW Group.

Gamuda, Boustead Plantations, Comintel, IOI Prop, Tropicana, MPI, Hiap Teck, Heitech Padu, Sime Darby, MyEG, UMW Holdings 

(Dec 6): Dalian Wanda Group Co’s founder Wang Jianlin is planning to sell the rest of the firm’s film unit as the troubled Chinese conglomerate faces increasing debt repayment pressure.

 The billionaire plans to transfer his 51% stake in Beijing Wanda Investment Co, which controls ...

Wanda’s billionaire founder sells film unit as debt pressure builds

Airline profits are set to stabilise in 2024 as continued growth in post-pandemic travel is offset by the high cost of capital and capacity constraints, industry group IATA said on Wednesday.

Airlines see stable profits, record traveller numbers in 2024

Wall Street's main indexes gained on Wednesday as investors turned more optimistic about rate cuts from the Federal Reserve early next year, after data showed further signs of a cooling jobs market.

Wall Street rises as soft employment data supports rate cut bets

SINGAPORE (Dec 6): The Monetary Authority of Singapore (MAS) has published its finalised Code of Conduct for ESG rating and data product providers.

MAS publishes code of conduct for ESG rating, data product providers

Alphabet on Wednesday introduced its most advanced artificial intelligence model, a technology capable of crunching different forms of information such as video, audio and text.

Alphabet unveils long-awaited Gemini AI model

SINGAPORE (Dec 6): Oiltek International has won new contracts worth RM52.5 million from Colombia and Malaysia, bringing its total order book to RM390.6 million.

Oiltek wins RM52.5 mil worth of new contracts from Malaysia and Columbia

Boustead Heavy Industries Corp Bhd (BHIC) has proposed to undertake a partial debt settlement with three banks totalling RM183.26 million and the full settlement of its RM234 million debt with Boustead Holdings Bhd (BHB), before Dec 31.

Boustead Heavy Industries announces RM417m debt settlement plan with three lenders, Boustead Holdings

McDonald's is planning to open about 10,000 restaurants globally by 2027 and more than double revenue from its loyalty programme, the company said on Wednesday, as it invests heavily to automate processes and speed up service at its stores.

McDonald's plans to add about 10,000 new stores by 2027, double loyalty programme sales

KUALA LUMPUR (Dec 6): Property developer IOI Properties Group Bhd plans to acquire five-star hotel W Kuala Lumpur (W KL) in Jalan Ampang, KL for RM270 million, cash, from property group Tropicana Corp Bhd.

In a surprise move, Swiss-based multinational investment bank UBS Group has emerged as a substantial shareholder in Boustead Plantations Bhd (BPlant), which is in the midst of being privatised, with a 5.36% stake, or 120.06 million shares.

KUALA LUMPUR (Dec 6): Gamuda Bhd’s Singapore branch (GBSG), an operating unit of the group, has secured a S$509.568 million (RM1.77 billion) design and construction contract for the West Coast station and tunnel.

MyEG Lodging (NC) Sdn Bhd, a subsidiary of e-government service provider MyEG Services Bhd, has signed a 30-year lease agreement with Penang Development Corp (PDC) to develop a foreign workers' village project worth RM108 million.

KUALA LUMPUR (Dec 6): Malaysian Pacific Industries Bhd (MPI) said it will cease its leadframes manufacturing operations under Dynacraft Industries Sdn Bhd by end-January next year.

MPI ceases leadframe manufacturing after 49 years

KUALA LUMPUR (Dec 6): Gamuda Bhd recorded a net profit of RM195.04 million in the first quarter ended Oct 31, 2023 (1QFY2024), compared to RM1.168 billion a year ago.

Gamuda records RM195 mil net profit in 1QFY2024

(Dec 6):&nbsp;Thailand is on course to meet its target for 28 million foreign tourist arrivals this year, as a surge in visitors from neighbouring Malaysia helps counter a slow recovery in the Chinese market, the biggest source of inbound travellers to Thailand, pre-Covid.

Malaysians top list of tourists flocking to Thailand as Chinese miss target

Agrochemical businessman Datuk Eddie Ong Choo Meng has emerged as a substantial shareholder in Hektar Real Estate Investment Trust (Hektar REIT), after acquiring a 28.462% stake, or 143.9 million shares, in the company.

Bursa Malaysia ended on a lower note on Wednesday amid muted trading throughout most of the session.

Bursa marginally lower in listless trading

KUALA LUMPUR (Dec 6): Hiap Teck Ventures Bhd will fork out RM53.24 million under its steel manufacturing joint-venture (JV)’s &nbsp;RM195 million rights issue, which is to fund the JV’s capital expenditure, in particular a hot rolling mill.

Hiap Teck to spend RM53.2 mil under steel-making JV’s cash call

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EVENING 5: Five things you need to know today

Talks between Malaysia and the United Arab Emirates (UAE) concerning a comprehensive economic partnership agreement between the two nations will be completed by the first quarter of 2024 (1Q2024), said the Ministry of Investment, Trade and Industry (Miti).

Malaysia and UAE to complete bilateral trade talks by 1Q2024, says Zafrul

Here is a brief recap of some corporate announcements that made the news on Wednesday: Gamuda Bhd, Boustead Plantations Bhd, LB Aluminium Bhd, Comintel Corp Bhd, IOI Properties Group Bhd, Malaysian Pacific Industries Bhd, Hiap Teck Ventures Bhd, Heitech Padu Bhd, Sime Darby Bhd, MyEG Services Bhd, UMW Group.&nbsp;&nbsp;

KUALA LUMPUR (Dec 6): CSH Alliance Bhd has appointed former Bank Negara Malaysia's (BNM) currency management and operations department&nbsp;director Azman Mat Ali as its independent and non-executive chairman, effective immediately.&nbsp;

Former BNM forex dept director appointed CSH Alliance chairman

(Dec 6): Treasury Secretary Janet Yellen said US lawmakers hold Ukraine’s fate in their hands as they block $61 billion in fresh funding requested by the Biden administration for the embattled East European country.

“This is a dire situation and we can hold ourselves responsible for Ukr...

Yellen appeals to Congress as Republicans block fresh aid to Ukraine

Luis Caputo was once nicknamed the "Messi of finance" for reopening Argentina's access to credit markets after lengthy negotiations with debt holdouts. He now faces a World Cup-sized challenge to fix the South American country's worst economic crisis in decades.

'Messi of finance': Argentina economy chief faces World Cup of crises

Comintel Corp Bhd, which completed its regularisation plan last year, has proposed a rights issue exercise followed by a private placement to raise approximately RM90 million for acquisition of construction equipment and working capital purposes.

Comintel proposes 1-for-10 rights issue, private placement to raise up to RM90 mil

Heitech Padu Bhd has secured a contract worth RM37.01 million to provide end-to-end services for the hospital information system (HIS) at Sultan Ismail Hospital in Johor Bahru.

Heitech Padu secures RM37 mil contract for end-to-end HIS system services

Dalian Wanda Group Co’s founder Wang Jianlin is planning to sell the rest of the firm’s film unit as the troubled Chinese conglomerate faces increasing debt repayment pressure.

PUTRAJAYA (Dec 6): Umno does not intend to re-establish political cooperation with PAS.

In fact, Umno president Datuk Seri Dr Ahmad Zahid Hamidi said the party has not heard rumours or received any proposal regarding this.

“We hope they would never try to dupe Umno again... as...

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