<div class=newsTextDataWrapInner><p>SINGAPORE (Sept 28): mm2 Asia has reshuffled its senior management and reorganised its operational structure&nbsp;effective Oct 1.</p></div>

<div>These changes&nbsp;come&nbsp;ahead of expansion plans that include the proposed acquisition of several cinemas&nbsp;from Cathay Cineplexes Sdn Bhd and Mega Cinemas Management Sdn Bhd in Malaysia.</div>

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<div>Incumbent mm2&nbsp;CFO Tay Joo Heng will be re-designated as CEO of mm2 Screen Management Sdn Bhd. He&nbsp;will oversee the group's cinema business.</div>

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<div>Tay's deputy CFO,&nbsp;Chong How Kiat,&nbsp;will replace him&nbsp;as CFO,&nbsp;assuming the responsibility for all finance-related matters of the company and group.</div>

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<div>Angelin Ong will be appointed as chief operating officer of mm2 Screen, on top of her current role as general manager of mm2 Entertainment Sdn Bhd. She will be responsible for the overall operations of mm2 Screen.</div>

<div class=newsTextDataWrapInner><p>Shares of mm2 ended down one cent or 1.7% at 57 cents.</p></div>

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SINGAPORE (Sept 28): mm2 Asia has reshuffled its senior management and reorganised its operational structure effective Oct 1.

These changes come ahead of expansion plans that include the proposed acquisition of several cinemas from Cathay Cineplexes Sdn Bhd and Meg...

mm2 Asia reshuffles senior management, reorganises operational structure

China’s pledge to nearly double the loan quota for unfinished residential projects to four trillion yuan (US$562 billion or RM2.42 trillion) fell short of market expectations, causing property shares to retreat as investors looked for stronger policies.

China’s US$562b loan push for unfinished homes disappoints

Medical equipment and furniture manufacturer LKL International Bhd (KL:LKL) has announced a proposed joint venture (JV) with PT Fasilitas Teknologi Nusantara (Fastech) to expand into the Indonesian healthcare market.

LKL expands into Indonesia's medical equipment and furniture market via JV

The KL Strike Force, established by the Federal Territories Department, has identified eateries and food courts around Jalan Pudu and Jalan Loke Yew here as the latest hotspots for prostitution activities, the Dewan Rakyat was told on Thursday.

Eateries, food courts new hotspots for prostitution in KL — Zaliha

Alimentation Couche-Tard Inc is interested in buying the entirety of Seven & i Holdings Co, and will keep the local operations of the Japanese convenience store and retail giant intact, chairman and founder Alain Bouchard said. 

It is also confident of addressing anti-trust regulatory concerns over a deal that would create the biggest convenience store company in the world, with Bouchard noting that it’s always been able “to have a great solution” for the US Federal Trade Commission (FTC) in past acquisitions.

Couche-Tard wants to buy entire Seven & i, confident of FTC deal

Nestlé SA cut its sales and profit guidance for the year, as the Swiss foodmaker struggles to rebuild market share after higher prices turned consumers off branded products.

The maker of Nescafe coffee and Purina pet food now expects organic sales to rise around 2% in 2024, below the previous forecast of at least 3%, it said on Thursday. Growth of 2% would be the lowest annual rate since at least the turn of the century.

Nestlé SA cuts full-year guidance weeks after naming new CEO

The Ministry of Health (MOH) will disclose the findings of an independent committee investigating the death of a pathology medical officer at a hospital in Lahad Datu, who was allegedly bullied at work, said Health Minister Datuk Seri Dr Dzulkefly Ahmad.

MOH will reveal findings of investigation into pathologist's death — Dzulkefly

A total of 3,847 children aged below 18 were reported missing between 2020 and September this year, but 96% of them were successfully found, the Dewan Rakyat was told on Thursday.

3,847 children reported missing from 2020 to September this year, 96% found

1Malaysia Development Bhd's (1MDB) lawyers claimed that Riza Aziz, the stepson of former prime minister Datuk Seri Najib Razak, had spent US$248 million in siphoned 1MDB funds on gambling, real estate, movie memorabilia, and to fund his company Red Granite Pictures and its motion picture productions.

Riza Aziz spent 1MDB funds on gambling, real estate, memorabilia, and making movies, court told

(Oct 17): A Bitcoin rally is grabbing the spotlight in part because some investors view the climb as a sign that markets anticipate a victory for pro-crypto Republican candidate Donald Trump in the US presidential election.

Bitcoin pulls ahead in markets in sign of bets on Trump victory

TSMC, the world's largest contract chipmaker, said on Thursday it expects strong growth in its business to be sustained as it reported a forecast-beating 54% jump in quarterly profit due to soaring demand for chips used in artificial intelligence (AI).

TSMC bullish on outlook as 3Q profit surges 54% on AI boom

<p>KUALA LUMPUR (Oct 17:) TA Securities expects egg prices to increase by just two- to three sen if the government proceeds with the removal of its 10 sen subsidy, easing concerns of a sharp price hike.</p>


Potential egg subsidy removal saves govt RM1.2b annually, unlikely to impact players — TA Securities

<p>KUALA LUMPUR (Oct 17): Public Bank Bhd’s (KL:PBBANK) capitalisation will remain healthy, even after fully accepting the mandatory general offer (MGO) to acquire all remaining shares of LPI Capital Bhd (KL:LPI), said S&amp;P Global Ratings.</p>


Public Bank still well capitalised after LPI Capital stake buy — S&P Global

<p>Apple Inc&nbsp;worked with Chinese automaker BYD Co&nbsp;for years as part of its now-cancelled car project, developing long-range batteries that helped lay the groundwork for technology used today, according to people familiar with the situation.</p>

<p>Apple and the Shenzhen-based company teamed up around 2017 to build a battery system using lithium iron phosphate cells, said the people, who asked not to be identified because the effort hadn’t been disclosed. The technology was designed to be longer-range and safer than typical electric-vehicle (EV) batteries at the time.&nbsp;</p>


Apple secretly worked with China’s BYD on long-range EV batteries — Bloomberg

<p>Eighteen months ago, LVMH shares were trading at a record high and the group’s controlling shareholder, Bernard Arnault, was the world’s wealthiest person.</p>

<p>Fast forward to Wednesday and a slump in Chinese demand for Louis Vuitton bags, Dior gowns and other high-end fashion has wiped out more than €150 billion (US$163 billion or RM701.2 billion) in LVMH market capitalisation. Arnault’s fortune has been relegated to the fifth place on the Bloomberg Billionaires Index, which also shows that he has lost more money — US$37 billion — during the period than anyone else on the ranking of the world’s 500 richest people.</p>


Arnault’s US$37b wealth loss comes as luxury dims in China

<p>Equities in Asia rose after Wall Street closed higher, helped along by a rotation out of megacap tech to small-cap companies. Chinese stocks erased gains after a press briefing by finance and housing ministers.</p>

<p>China’s CSI 300 index was flat amid the press briefing, after rising as much as 1.3% earlier. A gauge of Chinese property stocks extended losses. China&nbsp;said&nbsp;that will expand a programme to support “white list” projects to four trillion yuan&nbsp;(US$562 billion or RM2.42 trillion) from about 2.23 trillion yuan already deployed. Hong Kong stock benchmarks also trimmed gains.</p>


Asian stocks rise, Chinese shares reverse gains after housing minister's briefing

<p>(Oct 17):&nbsp;Malaysia’s sovereign bonds and currency are poised to rebound on robust economic indicators and expectations for fiscal discipline in the upcoming budget, investors said.</p>


Malaysia’s budget eyed for catalysts to spur rebound in bonds — Bloomberg

<p>Go <a href="https://theedgemalaysia.com/budget/2025/" target="_blank">here</a>&nbsp;for all about Budget 2025</p>

<p>MALAYSIA’s Budget 2025, themed “Madani Economy: Negara Makmur, Rakyat Sejahtera” to be tabled on Oct 18, was originally slated for a week earlier on Oct 11, the day Prime Minist...

The State of the Nation: What Anwar’s Budget 2025 could look like

<p>KUALA LUMPUR (Oct 17): The prosecution in former finance minister Tun Daim Zainuddin’s criminal trial has questioned the validity of a medical certificate and his recent hospitalisation, saying that the certificate is not complete and should not be allowed by the court.&nbsp;</p>


Daim ordered to come to court on Nov 20 as prosecution questions his recent hospitalisation

<p>Energy firms TotalEnergies, Qatar Energy,&nbsp;Petroliam Nasional Bhd (Petronas),&nbsp;Cybele Energy, Delcorpand International Group Investment&nbsp;have reached agreements with Guyana&nbsp;over&nbsp;terms of production sharing&nbsp;deals&nbsp;to&nbsp;explore five oil and gas offshore blocks, the country's Energy Ministry said on Wednesday.</p>


Petronas among companies reaching agreements to explore Guyana's offshore O&G blocks

<p>1Malaysia Development Bhd's (1MDB) lawyers claimed that Riza Aziz, the stepson of former prime minister Datuk Seri Najib Razak, had spent US$248 million in siphoned 1MDB funds on gambling, real estate, movie memorabilia, and to fund his company Red Granite Pictures and its motion picture productions.&nbsp;</p>


<p>China’s pledge to nearly double the loan quota for unfinished residential projects to four trillion yuan (US$562 billion or RM2.42 trillion) fell short of market expectations, causing property shares to retreat as investors looked for stronger policies.&nbsp;</p>


China’s US$562b loan push for unfinished homes falls short of market expectations

<p>Stock traders kept driving a rotation out of the megacaps that have powered the bull market and into other corners of Wall Street.</p>

<p>Economically sensitive shares outperformed, with the Russell 2000 of smaller firms hitting the highest in almost three years. Most big techs fell, though Nvidia Corp&nbsp;jumped 3.1%. An equal-weighted version of the S&amp;P 500 — where the likes of Apple Inc&nbsp;carry the same heft as Dollar Tree Inc&nbsp;— beat the US benchmark. That gauge is less impacted by the largest companies — providing a glimpse of hope the rally will broaden out.</p>


Stock rotation lifts small caps to three-year high

<p>Bitcoin bulls are setting their sights again on the record highs reached in March with optimism building around riskier assets and the looming US election.&nbsp;</p>

<p>“After six months of price consolidation this year, the stage is set for a perfect storm in favour of bitcoin and other crypto assets,” wrote Blockforce Capital’s Brett Munster. He cited a rise in global liquidity, including from China, which has been offering a raft of stimulus measures in recent days in an attempt to boost its economy.</p>


Bitcoin approaches US$70,000 with speculators eyeing record highs

<p>Malaysia plans to diversify its trading partners to explore new solar export markets, amid geopolitical tensions and the ongoing trade war between China and the US, according to the Ministry of Investment, Trade and Industry (Miti).</p>


Zafrul stresses need for 'diverse trading partners' to explore new solar markets

<p>China&nbsp;is building its capacity to rapidly turn military drills into a full-out attack, a senior security official of Taiwan said, providing the Taipei government's assessment of the strategic intent behind Beijing's war games around the island this week.</p>


China building capacity to rapidly strike Taiwan, island's senior official says

<p>TSMC, the world's largest contract chipmaker, said on Thursday it expects strong growth in its business to be sustained as it reported a forecast-beating 54% jump in quarterly profit due to soaring demand for chips used in artificial intelligence (AI).</p>


<p>Malaysia’s participation in BRICS will not include any free trade agreement (FTA) between the country and members of the economic&nbsp;group, said Deputy Investment, Trade, and Industry Minister Liew Chin Tong.</p>


Malaysia’s BRICS participation won't involve free trade agreements, says Liew

<p>Lim Seong Hai Capital Bhd (KL:LSH) and Besteel Engtech Sdn Bhd (BESB) have delivered their maiden joint-venture high-rise residential project named Laman Seri Harmoni (LSH33) in Sentul, Kuala Lumpur. Vacant possession of the project was delivered 33 days ahead of schedule on Sept 12.</p>

<p>According to a media statement, LSH Capital through a wholly owned subsidiary,&nbsp;LSH Best Builders Sdn Bhd (LSHBB), and BESB held the key handover ceremony on Wednesday. The event was graced by Kuala Lumpur mayor Datuk Seri Maimunah Mohd Sharif.</p>


LSH Capital hands over maiden high-rise project in Sentul, KL

<p>KUALA LUMPUR (Oct 17): Some 70% of Malaysian consumers believe that the health and retirement benefits provided by their employers are insufficient to meet their future financial and medical needs, indicating heightened concerns over rising healthcare costs and the ability to achieve retirement savings goals, according to a survey done by Manulife.&nbsp;</p>


Some 70% of Malaysians believe employee benefits insufficient to meet future financial needs — survey

<p>TA Securities said the government should consider the feasibility of a second, larger-capacity interconnection facility for exports of renewable energy (RE) between Peninsular Malaysia and Singapore, as the interconnection capacity is rapidly "depleting".</p>
