<div class=newsTextDataWrapInner><p>KUALA LUMPUR: Mizuho Corporate Bank (Malaysia) Bhd has received the Minister of Finance’s approval for its commercial banking licence.</p></div>
<div class=newsTextDataWrapInner><p>Mizuho Malaysia is a unit Mizuho Corporate Bank, Ltd and it was locally incorporated in November 2010.</p></div>
<div class=newsTextDataWrapInner><p>The banking group said on Monday, Feb 21 the licence would enable it to provide a full range of financial services to multinational companies seeking to establish and expand their broad manufacturing base.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
<div class=newsTextDataWrapInner><p>It was in June 2010, that Mizuho received approval from Bank Negara Malaysia for a new commercial banking licence in Malaysia.</p></div>
<div class=newsTextDataWrapInner><p>Mizuho Malaysia will be headed by Hiroyuki Yoshinari, who was in charge of mergers and acquisitions advisory and global money markets and currency markets in both the US and Japan prior to this appointment.</p></div>
<div class=newsTextDataWrapInner><p>“With a commercial banking licence, Mizuho’s Kuala Lumpur-based operations will be able to provide a full range of financial services to multinational companies seeking to establish and expand their broad manufacturing base in Malaysia,” he said.</p></div>

KUALA LUMPUR: Mizuho Corporate Bank (Malaysia) Bhd has received the Minister of Finance’s approval for its commercial banking licence.
Mizuho Malaysia is a unit Mizuho Corporate Bank, Ltd and it was locally incorporated in November 2010.
The banking group said on Monday, Feb 21 the licence would enable it to provide a full range of financial services to multinational companies seeking to establish and expand their broad manufacturing base.
It was in June 2010, that Mizuho received approval from Bank Negara Malaysia for a new commercial banking licence in Malaysia.
Mizuho Malaysia will be headed by Hiroyuki Yoshinari, who was in charge of mergers and acquisitions advisory and global money markets and currency markets in both the US and Japan prior to this appointment.
“With a commercial banking licence, Mizuho’s Kuala Lumpur-based operations will be able to provide a full range of financial services to multinational companies seeking to establish and expand their broad manufacturing base in Malaysia,” he said.

Mizuho Malaysia gets MoF approval for its commercial banking licence

Integrated power infrastructure group Pestech International Bhd (KL:PESTECH) and state utility firm Syarikat Sesco Bhd have scrapped plans to undertake the Entinggan–B 275/(33)kV substation project worth RM109.98 million after taking into consideration the economic factors of the job.

Pestech, Sesco nix RM109.98m substation project in Sarawak

South Malaysia Industries Bhd (KL:SMI) has sought a court order to compel local stockbrokers Kenanga Investment Bank Bhd to provide details of shareholders who sold their shares that led to Francis Leong Seng Wui becoming its major shareholder with a 30.67% stake.

Leong, the executive director of property developer Hong Seng Consolidated Bhd (KL:HONGSENG), emerged as a substantial shareholder of the company after he acquired 32.58 million shares or a 15.52% stake through his private vehicle Target 1 Sdn Bhd on June 4.

SMI seeks court order to identify sellers of shares acquired by new major shareholder

Appropriate action, including legal measures, has been initiated to address the RM286.3 million accumulated losses reported by Mara Incorporated Sdn Bhd (Mara Inc), as highlighted in the Auditor-General's Report (LKAN) released Thursday.

Mara director-general Datuk Seri Azhar Abdul Manaf said the accumulated losses between 2012 and 2022 were partly attributed to asset acquisitions abroad, particularly in Australia and the United Kingdom from 2012 to 2014.

Appropriate action taken to resolve Mara Inc's losses — Mara DG

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

Maybank, Southern Cable, TNB, GHL System, Eurospan Holdings, Salutica, Tex Cycle, Pestech, Computer Forms

Elon Musk wants to dismiss a lawsuit by former Twitter shareholders who said he waited too long in early 2022 to reveal his large ownership stake in the social media company, saying "all indications" show his delay was a mistake.

Musk suggests late Twitter disclosure was a mistake, seeks to end lawsuit

The Dow and the S&P 500 struggled for direction on Friday as investors assessed mixed payrolls data for cues on the Federal Reserve's pace of policy easing, while gains in megacap tech stocks lifted the Nasdaq.

Nasdaq gains on megacap boost as markets assess payrolls data

Umno will finalise its candidate for the Nenggiri state by-election next week, party president Datuk Seri Dr Ahmad Zahid Hamidi said.

Ahmad Zahid, who is also Deputy Prime Minister, said Gua Musang Umno has compiled a shortlist of potential candidates for the polls fixed for Aug 17.

Umno to finalise Nenggiri polls candidate next week — Ahmad Zahid

Umno has received numerous applications from former members who wish to become members again, party president Datuk Seri Dr Ahmad Zahid Hamidi said.

He said these applications will be reviewed by the party disciplinary board to verify their membership history.

Numerous requests from former members to rejoin Umno — Ahmad Zahid

The takeover bid by the children of businessman Tan Sri Robert Tan Hua Choon for Eurospan Holdings Bhd (KL:EUROSP) has closed, with the offerors increasing their stake in the furniture maker to 73.99%.

Casio King’s children raises stake in Eurospan to 73.99% as MGO closes

HB Global Ltd's (KL:HBGLOB) former executive chairman, Keh Chuan Seng, has ceased to be a substantial shareholder in the frozen food manufacturer.

Keh offloaded 15.7 million shares or a 2.01% stake in the group via direct business transactions on Friday, HB Global’s filing showed. This reduced his shareholding in the group to 4.9% from 6.91% previously.

HB Global's ex-chairman Keh Chuan Seng ceases to be substantial shareholder

<p>The worst is over for the electronic manufacturing services (EMS) sector, said UOB Kay Hian in a recent note.</p>

<p>Besides margin improvement from higher operational efficiency, the research house saw an additional boost that could lift the sector which it attributed to a higher degree of vertical integration, wider market reach, technological advancement, and new prospects from trade diversion.</p>


UOB Kay Hian says worst is over for electronic manufacturing services, keeps 'overweight' call on sector

<p>Shares of Salutica Bhd (KL:SALUTE) fell to their lowest in nearly nine months, and the sharp decline prompted the suspension of intraday short-selling of the electronics manufacturing services firm’s stock.</p>


Salutica falls to lowest in nearly nine months after suit against Apple dismissed

<p>Former inspector general of police (IGP) Tan Sri Musa Hassan said that he had not seen any confidential documents in the course of his duties to suggest that Youth and Sports Minister Hannah Yeoh was trying to “evangelise” and turn the nation into a Christian one.</p>


Ex-IGP said he had not seen any private documents to suggest Hannah Yeoh was trying to ‘evangelise’ Malaysia

<p>The Inland Revenue Board (LHDN) has extended the deadline for submission of tax return forms for the assessment year 2023 for taxpayers who operate businesses to July 15.</p>


Deadline to submit tax return forms for business taxpayers extended to July 15

<p>Thailand's consumer protection agency has received about 70 complaints since initiating a probe into aggressive discounting by BYD dealers that has left some buyers feeling they overpaid for their Chinese electric vehicles (EVs).</p>


BYD's steep EV discounting in Thailand sparks backlash, PM seeks assurances

<p>KUALA LUMPUR (July 5): A company director pleaded not guilty in the Sessions Court here on Friday to abusing his position by transferring the company’s funds into&nbsp;his personal bank account without the approval of the company’s general meeting.</p>


Director charged with transferring over RM3m in company funds into personal bank account

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.</p>


<p>KUALA LUMPUR (July 5): Trial will proceed against a&nbsp;Malaysian Anti-Corruption Commission (MACC) officer and a businessman,&nbsp;known as “Datuk Roy”, as they failed to get the Attorney-General Chambers (AGC) to review their charges of allegedly soliciting and receiving bribes amounting to RM640,000, said to be as an inducement to ensure former prime minister&nbsp;Tan Sri Muhyiddin Yassin’s son was not remanded by the graft-busting body.</p>


Court dismisses representation by MACC officer, Datuk Roy on Jana Wibawa-linked bribery charges

<p>The Ministry of Human Resources (MOHR) submitted a report on the mismanagement issue involving the Human Resource Development Corporation (HRD Corp) to the Malaysian Anti-Corruption Commission (MACC) on Friday.</p>


HR ministry submits report on HRD Corp mismanagement to MACC

<p>Integrated power infrastructure group Pestech International Bhd (KL:PESTECH) and state utility firm Syarikat Sesco Bhd have scrapped plans to undertake the Entinggan–B 275/(33)kV substation project worth RM109.98 million after taking into consideration the economic factors of the job.</p>

<p>&nbsp;</p>


<p>Hong Leong Investment Bank (HLIB) maintains an "underweight" rating on the media sector, noting several challenges ahead, it said in a note on Friday.</p>


HLIB stays 'underweight' on media sector, downgrades Astro to 'sell'

<p>The Malaysian&nbsp;Anti-Corruption Commission (MACC) said it will examine all documents related to the findings made in the latest Auditor General’s Report concerning the Human Resource Development Corporation (HRD Corp) to determine if there is any element of wrongdoing.</p>


MACC says will examine documents on HRD Corp to check for wrongdoing

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>The Federation of Malaysian Manufacturers (FMM) on Friday called for firmer action to be taken to further strengthen the governance and management of the Human Resource Development Corporation (HRD Corp).</p>


FMM calls for firmer action to strengthen HRD Corp following AG, PAC reports

<p>Prime Minister Datuk Seri Anwar Ibrahim wants every ministry, department and agency to give priority to the aspects of management, governance and accountability in issues mentioned&nbsp;in the Auditor General's Report 2/2024 tabled in the Dewan Rakyat on Thursday.</p>


PM wants priority given to management, governance, accountability in issues raised by AG's Report

<p>KUALA LUMPUR (July 5): NTT DATA Japan Corp (NTTD Japan) is extending the closing date of its unconditional mandatory takeover offer (MGO) of RM1.08 per share for GHL Systems Bhd (KL:GHLSYS) by two weeks.</p>


NTT Data Japan, holding 94.61% of GHL System shares, extends takeover closing date to July 23

<p>There was a time when US President Joe Biden’s allies abroad would make allowances for his age, let the slip-ups slide, gently bring him back to the fold when he appeared to wander off. No longer.</p>


Biden’s allies abroad think it’s untenable for him to stay on

<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday.</p>


FBM KLCI down 0.35% to 1,611.02 on July 5, 2024 

<p>Taiwan's Foxconn, the world's largest contract electronics maker and Apple's biggest iPhone assembler, posted on Friday better-than-expected quarterly revenue on AI server demand, and forecast continued growth in the current quarter.</p>


Foxconn 2Q revenue beats market forecast on AI server demand

<p>UK assets are back in favour after Keir Starmer’s Labour party swept to a landslide election win, fuelling hopes for a period of political calm and a steady approach to the nation’s finances.</p>
