Two Umno leaders were sworn in as senators before Dewan Negara President Datuk Awang Bemee Awang Ali Basah on Thursday.

They were Wanita Umno secretary Datuk Rosni Sohar, and Ipoh Barat Umno division chief Datuk Shamsuddin Abd Ghaffar.

Two Umno leaders sworn in as senators

The third meeting of the third session of the 15th Parliamen adjourned on Thursday after sitting for 12 days since Dec 2, with 26 bills passed.

Dewan Negara adjourns after passing 26 bills in 12 days

The Senate’s Special Select Committee on Social and Community Affairs (JKPK HESM) has urged the government to expedite the formulation of the Anti-Ali Baba Act to tackle the growing issue of foreigners' dominance in small and medium-sized enterprises (SMEs).

Putrajaya urged to hasten creation of ‘Anti-Ali Baba’ law 

A total of 288,000 members of the Employees Provident Fund (EPF) have registered to contribute more than the statutory rate of 11% for employee contributions as of October 2024.

288,000 EPF members register to contribute above the statutory 11% employee rate — Lim

The Ministry of Finance (MOF) has found that instances of using cryptocurrency as a medium for money laundering in Malaysia are low.

Deputy Finance Minister Lim Hui Ying said that this conclusion was based on the latest Virtual Assets Risk Assessment conducted by the National Coordination Committee to Counter Money Laundering (NCC) based on observations from the Securities Commission Malaysia (SC) and Bank Negara Malaysia (BNM).

MOF: Few cases of using cryptocurrency in money laundering

The government has acquired 10 new train sets for the Electric Train Service (ETS), which is expected to be operational from the first quarter of next year, said Deputy Transport Minister Datuk Hasbi Habibollah.

Ten new ETS trains to be operational by 1Q2025, 50 more on the way, Senate told

KUALA LUMPUR (Dec 18): The SouthEast Asia Hainan-Hong Kong Express Cable System (SEA-H2X), the 160Tbps (trillion bits per second) undersea fiber-optic cable network designed to enhance connectivity and data transmission in the Asia-Pacific region, is expected to be completed by the third quarter of 2025 (3Q2025).

SEA-H2X undersea cable network in Sarawak set for completion by 3Q2025 — Teo

The Health Ministry (MOH) will introduce a rotation system to improve the placement of medical officers, particularly in rural and urban areas, to address the shortage of workers in the sector.

MOH to introduce rotation system to address workforce shortage

The Dewan Negara on Tuesday passed three bills under the Prime Minister's Department, namely the Legal Profession (Amendment) Bill 2024, the Trustees (Amendment) Bill 2024, and the Trustees (Incorporation) (Amendment) Bill 2024.

Dewan Negara passes five bills

KUALA LUMPUR (Dec 17): The government is scrutinising the need for a plastic-related act that is more comprehensive through a feasibility study under the 13th Malaysia Plan (13MP).

Minister of Natural Resources and Environmental Sustainability Nik Nazmi Nik Ahmad said the study needed t...

Environment ministry scrutinising need for comprehensive plastic policy through study under 13MP

Proposals related to the definition and classification of the T15 income group are being refined and will be decided by the Cabinet soon, Economy Minister Rafizi Ramli said on Tuesday.

Rafizi: Definition, classification of T15 will be decided soon

The ringgit has strengthened by 2.8% against the US dollar as of Nov 22, 2024, according to the Ministry of Finance (MOF).

Ringgit strengthened 2.8% against US dollar as of Nov 2024 — MOF

The implementation of the 15% global minimum tax (GMT) starting next year is expected to have a positive impact on the country’s financial position, according to the Ministry of Finance (MOF).

MOF sees global minimum tax boosting Malaysia’s financial position 

he Malaysia Digital Investment Strategy (MDIS) (formerly Digital Investments Future5 Strategy or DIF5) has attracted investments totalling RM224.72 billion since its launch in 2021 until the third quarter of this year.

Malaysia’s digital investment strategy attracted RM224.7b in investments since 2021, created nearly 96,000 jobs — Gobind

J Sainsbury plc will cut 3,000 staff and close its remaining cafes, as Britain’s second-largest supermarket chain steps up a cost-saving drive after the government announced higher taxes on businesses.

The move will involve a restructuring of head office positions and a 20% reduction in senior management roles, Sainsbury said on Thursday.

Sainsbury’s to lay off 3,000 workers, close cafes in cost-savings measure

Volkswagen AG estimated it will take a €1.5 billion (US$1.6 billion or RM6.9 billion) hit this year from stricter European Union (EU) standards for car emissions that the manufacturer will struggle to meet.

Volkswagen sees €1.5b cost from EU emissions rules

Destini Bhd (KL:DESTINI) has managed to stay in the black for a second consecutive quarter as revenue more than doubled, mainly due to the delivery of trains and equipment by its mobility and aviation sectors, as well as cost-cutting measures undertaken by the company.

The engineering services provider reported a net profit of RM6.07 million for its second quarter ended Dec 31, 2024 (2QFY2025) compared with a net loss of RM3.93 million a year earlier.

Destini posts second straight quarterly profit in 2Q

Indebted property developer China Vanke Co Ltd is in advanced talks to sell a controlling stake in VX Logistics to Singaporean sovereign wealth fund GIC, a person with knowledge of the matter said.

China's Vanke in talks to sell controlling stake in logistics firm to GIC, Reuters reports

The chief executive of Norway's US$1.8 trillion (RM7.99 trillion) sovereign wealth fund, one of the world's largest investors, said on Thursday that inflationary pressure in the US posed a risk to financial markets this year.

Asked what were the biggest risks to markets in 2025, Nicolai Tangen said: "Inflationary pressure from what's going on in the US now."

Norway wealth fund CEO says US inflationary pressure a risk to markets in 2025

The government will introduce more incentives in the 13th Malaysia Plan (13MP) to stimulate the economy that goes beyond the distribution of funds and projects, said Economy Minister Datuk Seri Mohd Rafizi Ramli.

Rafizi says 13th Malaysia Plan to introduce incentives based on policies to drive behavioural economics

Axis Real Estate Investment Trust (Axis REIT) posted a 15.39% year-on-year increase in net property income (NPI) for the fourth quarter ended Dec 31, 2024 (4QFY2024), contributed by its new acquisitions and new tenancies.

For the 4QFY2024, Axis REIT’s NPI rose to RM76.35 million, compared to RM66.16 million a year earlier, thanks to its newly acquired properties, new tenancies from its logistics warehouse Axis Mega Distribution Centre (Phase 2), as well as positive rental reversion from the existing portfolio.

Axis REIT’s 4Q NPI rises 15% on new acquisitions, new tenancies

Censof Holdings Bhd (KL: CENSOF) said on Thursday that it has secured a RM4.3 million contract from pension fund Kumpulan Wang Persaraan (Diperbadankan) or KWAP, to replace and implement a new cloud-based accounting system.

The system, dubbed the government resource planning (GRP) system, is designed to migrate operations from on-premises to cloud-based platforms, aiming to enhance efficiency, scalability, and accessibility while streamlining processes and improving adaptability.

Censof bags RM4.3 mil cloud-based accounting system contract from KWAP

The Securities Commission Malaysia (SC) has issued a statement to give the assurance that it is closely monitoring recent takeover activities in the Malaysian market to ensure compliance with relevant regulations, and to safeguard the integrity of the capital market, citing recent interest in such matters.

SC says it is keeping close watch on takeovers amid public interest in MAHB deal

Nanyang-style coffeehouse chain operator Oriental Kopi Holdings Bhd (KL:KOPI) concluded its maiden trading day on the ACE Market of Bursa Malaysia with its share price almost doubled, following strong demand during its initial public offering (IPO).

Oriental Kopi serves a strong dose of caffeine on ACE Market debut

KUALA LUMPUR (Jan 23): The High Court allowed the forfeiture of Ricky Wong Shee Kai’s luxury condominium unit at Four Seasons Place in Kuala Lumpur, as well as RM445,039.28 in the businessman’s personal fixed deposit account.

High Court allows seizure of Ricky Wong's luxury condo unit, fixed deposit

Nanyang-style coffeehouse chain operator Oriental Kopi Holdings Bhd (KL:KOPI) concluded its maiden trading day on the ACE Market of Bursa Malaysia with its share price almost doubled, following strong demand during its initial public offering (IPO).

Café chain operator Oriental Kopi Holdings Bhd (KL:KOPI), which debuted on the ACE Market of Bursa Malaysia on Thursday, said the company is scaling up its product offerings in the fast-moving consumer goods (FMCG) segment, targeting the launch of over 20 products by year end.

Oriental Kopi aims to launch over 20 fast-moving consumer goods by year end

Gamuda Land, in collaboration with Meaningfull Life, is launching Malaysia’s first integrated eldercare facility within its twentyfive7 township, setting a new benchmark for multi-generational community living.

Gamuda Land unveils Malaysia’s first integrated eldercare facility in twentyfive7

Sime Darby Property Bhd (KL:SIMEPROP) has signed five anchor tenants for its upcoming KLGCC Mall, marking a significant milestone in the company's retail expansion strategy.

The tenants include Jaya Grocer, Serai Group’s flagship concept, ACE Hardware, Asia Ballet Academy, and the first HarborLand kids playland in Malaysia.

Sime Darby Property secures five anchor tenants for KLGCC Mall

BYD Co has beaten out Toyota Motor Corp to take the title of most popular car brand in Singapore for the first time.

BYD outsells Toyota to becomes Singapore’s most popular car

KUALA LUMPUR (Jan 23): KIP Real Estate Investment Trust (KL:KIPREIT) unitholders have approved the acquisition of four industrial properties associated to its largest shareholder Datuk Eddie Ong Choo Meng, for a total purchase price of RM98.3 million.

KIP REIT unitholders approve RM98m industrial properties buy from Eddie Ong

YTL Corp Bhd (KL:YTL) and YTL Power International Bhd (KL:YTLPOWR) have each proposed a bonus issue of free warrants, on the basis of one free warrant for every five shares held in the respective companies. The warrants are planned to be exercised at a discount to the share prices of each company —&nbsp;at 37% discount for YTL Corp, and a 39.5% discount for YTL Power based on their closing prices on Thursday&nbsp;— bourse filings showed.

YTL Corp, YTL Power plan free warrants; exercise prices at discount to market prices

Kepala Batas Member of Parliament Dr Siti Mastura Muhammad has settled the payment of RM830,034.75 in damages and legal costs (including interest) to three DAP stalwarts.

PAS MP Siti Mastura settles payment of RM830k to Kit Siang, Guan Eng and Teresa Kok pending defamation appeal

The share price of Gadang Holdings Bhd (KL:GADANG) may rally on the back of strong earnings growth, following a better-than-expected quarter, TA Securities said.

Gadang shares may rally on strong earnings growth, says TA Securities in upgrade to 'buy'

China announced plans on Thursday to channel hundreds of billions of yuan annually into shares from state-owned insurers, in the government's latest effort to support equity markets.

China pushes insurers to invest billions in latest move to support market

KUALA LUMPUR (Jan 23): Aeon Co (M) Bhd (KL:AEON) is set to deliver another strong performance in the final quarter of the financial year 2024, with a projected net profit of RM57.3 million, according to CIMB Securities.

Aeon poised for strong 4Q performance on festive season, reopening of stores — CIMB Securities

(Jan 23):&nbsp;Saudi Arabian Crown Prince Mohammed bin Salman told President Donald Trump that the kingdom wants to put US$600 billion (RM2.66 trillion)&nbsp;into expanded investment and trade with the United States over the next four years, the Saudi state news agency said early on Thursday.

Saudi Arabia plans US$600 bil in new US investment, trade over four years

Binastra Corporation Bhd (KL:BNASTRA) may introduce a dividend payout earlier than expected in FY2025, according to Phillip Capital.

Binastra could issue dividend as early as FY2025 — Phillip Capital

Malaysian Resources Corp Bhd (KL:MRCB) is partnering Ipoh Sentral Sdn Bhd (ISSB) to jointly develop the Ipoh Sentral project, with an estimated gross development value of RM6.25 billion.

MRCB to jointly undertake RM6.25b GDV Ipoh Sentral development project

Prime Minister Datuk Seri Anwar Ibrahim said the government is working on a more targeted approach for the provision of toll exemptions during festive seasons.

Govt working on targeted toll exemptions for festive seasons, to benefit only B40, M40 — PM

KUALA LUMPUR (Jan 23): KIP Real Estate Investment Trust (KL:KIPREIT) said it remains in acquisition mode, aiming to expand its portfolio with more retail and industrial properties.

KIP REIT remains in acquisition mode, says CEO

KUALA LUMPUR (Jan 23): Westports Holdings Bhd (KL:WSPRTS) reported a record-high net profit of RM256.7 million for the fourth quarter ended Dec 31, 2024 (4QFY2024), a 25% increase from RM206.1 million a year ago, driven by higher container revenue.

Westports books record revenue and profit for FY2024, declares 10.86 sen dividend

Former prime minister Datuk Seri Najib Razak on Thursday sought to portray a contrast between his leadership style with the 'work-in-silo' culture in 1Malaysia Development Bhd (1MDB).

1MDB-Tanore trial: Work-in-silo not my leadership style, says Najib

Constitutionalism and the independence of the judiciary took centre stage in the speech of The Right Honourable the Chief Justice of Malaysia, Tun Tengku Maimun Tuan Mat, at the opening of the legal year on Jan 8, 2025.

Parliament

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