In today’s edition of Evening 5 — Top Glove Corp reports a third loss-making quarter, the High Court refuses to grant a permanent stay of a winding up petition against Serba Dinamik pending its appeal, and Bank Negara says Malaysia’s lenders are on solid footing amid fears about the health of the global financial system. </div><div class=inPageAd id=div-gpt-ad-inpage>

EVENING 5: Top Glove posts third quarterly loss

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

Gamuda, MUI Properties, Chin Teck Plantations, Gadang, Apex Equity, Samaiden, Yinson, Well Chip, Sunway, EA Technique

US stock markets will close Jan 9, in observance of a national day of mourning for former President Jimmy Carter.

The New York Stock Exchange, Nasdaq Inc’s US equities exchanges and Cboe Global Markets Inc will shut, the companies said. CME Group Inc, operator of US-based equity and interest-rates markets, had not yet commented on its plans.

US stock market to close Jan 9 on Carter’s day of mourning

Ukraine and Russia carried out a new exchange of prisoners of war on Monday, with Kyiv bringing home 189 former captives, President Volodymyr Zelenskiy said on Monday.

Zelenskiy thanked the United Arab Emirates and other partners for facilitating the swap.

Ukraine says it brings home 189 POWs in swap with Russia

Wall Street's main stock indexes opened sharply lower on Monday and hit their lowest in over a week, as sparse trading volumes and the specter of elevated treasury yields cast a cloud over the traditionally strong year-end rally for equities.

Wall Street hits one-week low in thin trading, elevated yields add pressure

Sunway Bhd (KL:SUNWAY) has appointed its independent director Datuk Mohd Anuar Taib to an executive role as deputy president effective Jan 2, 2025.

Anuar, who will step down as chief executive officer of Sapura Energy Bhd (KL:SAPNRG) on Tuesday (Dec 31), joined the board of Sunway in July 2023 as an independent non-executive director.

Sunway appoints outgoing Sapura Energy CEO Anuar Taib as deputy president

A federal appeals court on Monday upheld a US$5 million (RM22.3 million) verdict that E Jean Carroll won against Donald Trump when a jury found the US president-elect liable for sexually abusing and later defaming the former magazine columnist.

Trump loses appeal of E Jean Carroll US$5m defamation verdict

EVENING 5: 2024: A data driven year

Fitch Ratings is expecting crude palm oil prices to retreat from the current level of over US$1,100 to US$800 (RM3,576) per tonne in 2025.

Fitch expects CPO prices to weaken in 2025 amid improved yield, higher soybean output

Petroliam Nasional Bhd (Petronas), in response to an online news portal's report that it might be trimming its workforce due to its gas distribution agreement with Petroleum Sarawak Bhd, said it is conducting a comprehensive review of its own productivity.

Petronas says reviewing productivity in response to report of potential downsizing

The flood situation in Kelantan and Terengganu is improving as the number of evacuees continue to drop, while in Johor, one new relief centre has been opened as of 8pm.

Flood situation improves in Terengganu and Kelantan; evacuees on the rise in Johor

Gamuda Bhd is acquiring 389.7 acres of land in the Springhill Industrial Park, Port Dickson for RM424.4 million from a joint venture (JV) between MUI Properties Bhd (MUIPROP) and Chin Teck Plantations Bhd.

Gamuda buys land from MUI Properties-Chin Teck JV for RM424m cash, for data centre project

Petroliam Nasional Bhd (Petronas), in response to an online news portal's report that it might be trimming its workforce due to its gas distribution agreement with Petroleum Sarawak Bhd, said it is conducting a comprehensive review of its own productivity.

A businessman with a Datuk Seri title, his daughter, son-in-law, and two employees, pleaded not guilty in the Ayer Keroh magistrates court to charges of causing hurt and threatening an insurance manager last month.

Mohamad Fazil Shafie, 62, Nur Amalina Mohamad Fazil, 33, and Amran Azmi, 32, and their employees, Azian Ab Rahim, 37, and Muhammad Azrul Syafiq Rosman, 28, are accused of jointly and intentionally injuring Muhammad Nur Hakim Baharudin, 30.

Datuk Seri and four others charged with injuring insurance manager

Apex Equity Holdings Bhd (KL:APEX), which is involved in stockbroking, property development and money lending services, said on Monday it is buying a boutique office building in Bangsar South, Kuala Lumpur for RM50 million.

Apex Equity buys office building in Bangsar South for RM50 mil for relocation

Samaiden Group Bhd (KL:SAMAIDEN) said on Monday that it has been selected to develop a 99.99-megawatt large-scale solar photovoltaic plant in Pasir Mas, Kelantan.

Samaiden picked for Kelantan solar plant project

KUALA LUMPUR (Dec 30): <a href="https://theedgemalaysia.com/" target="_blank">theedgemalaysia.com</a> highlighted eight stocks with momentum at Bursa Malaysia’s afternoon close on Monday. Two stocks showed positive momentum, while six stocks showed negative momentum.

Stocks with momentum on Dec 30, 2024: Southern Cable, Crescendo, Eversendai, Xin Synergy, Willowglen, GDB, MN Holdings, ECA Integrated

KUALA LUMPUR (Dec 30): Higher electricity bills will harm steel companies’ competitiveness and impair the decarbonisation efforts of an industry grappling with losses over the past three years, a trade group said on Monday.

Steel trade group warns higher electricity tariffs will impair competitiveness, decarbonisation

The new staffer was supposed to help Toronto-Dominion Bank spot money laundering from an outpost in New York.

She instead used her access to bank data to distribute customer details to a criminal network on Telegram, according to prosecutors in Manhattan.

Bank insiders are leaking data on client accounts as scams surge

KUALA LUMPUR (Dec 30): Prime Minister Datuk Seri Anwar Ibrahim said immediate steps will be taken to stimulate growth, enhance the tourism sector, and ensure the preservation of biodiversity on Langkawi Island, Kedah.

Anwar: Immediate steps to boost Langkawi tourism industry

KUALA LUMPUR (Dec 30): Former AEON BiG managing director Sheikh Farouk Sheikh Mohamed has been appointed as the chief executive of the Malaysian Employers Federation (MEF), effective Jan 1, 2025.

In a statement, MEF president Datuk Syed Hussain described Sheikh Farouk as the "ideal choi...

Former AEON BiG MD Sheikh Farouk appointed MEF chief executive

KUALA LUMPUR (Dec 30): Gadang Holdings Bhd (KL:GADANG) and its joint venture (JV) partners have successfully won a bid to develop a 15-megawatt alternating current (MWac) large-scale solar (LSS) photovoltaic (PV) plant in Tawau, Sabah.

Gadang unit’s JV wins bid to develop 15MWac solar plant in Tawau, Sabah

Well Chip Group Bhd (KL:WELLCHIP), a Johor-based pawnbroker listed in July this year, announced an acquisition of three pawnbroking companies in Perak for RM63.44 million in cash.

In an exchange filing, the Main Market-listed firm said it is taking over the three companies, namely Pajak Gadai Koong Sing Sdn Bhd, Lian Foh Pawnshop Sdn Bhd and Fook Foh Pawnshop Sdn Bhd. These companies will become Well Chip’s wholly-owned subsidiaries following the proposed acquisition, slated to be completed by the first quarter of 2025. &nbsp;

Well Chip acquires three pawnshops in Perak for RM63 mil

Yinson Production, the offshore business arm of Yinson Holdings Bhd (KL:YINSON), has secured an 18-month extension for the bareboat charter contract of its floating production storage and offloading (FPSO) unit operating in offshore Vietnam.

Yinson unit secures RM161.8m bareboat charter extension for FPSO unit

The Adani Group will exit from Mumbai-listed Adani Wilmar Ltd in a US$2 billion (RM8.94 billion) multi-phased deal by selling its stake in its consumer joint venture (JV), as the conglomerate’s flagship focuses on its core infrastructure businesses.

Adani plans US$2b exit from JV with Singapore’s Wilmar

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Monday

FBM KLCI up 0.59% to 1,637.68 on Dec 30, 2024

Commercial aviation has suffered its deadliest year since 2018 after the Jeju Air Co disaster in South Korea and last week’s downing of an Azerbaijan Airlines plane.

Two plane crashes lead to deadliest year in skies since 2018

The German government accused US billionaire Elon Musk on Monday of trying to influence its election due in February with articles supporting the far-right Alternative for Germany (AfD) party, even though it suggested they amounted to "nonsense".

Germany accuses Elon Musk of trying to influence its election

SHAH ALAM (Dec 30): A catering supply company on Monday became the first employer in Malaysia to have its assets seized after failing to settle its Social Security Organisation (Socso) contributions totalling RM19,765.20.

Selangor Perkeso director Ismail Abi Hashim said the action was t...

Catering supply company is first employer to have assets seized for failing to settle Socso contributions

Marine transportation and offshore storage company EA Technique (M) Bhd (KL:EATECH) has proposed to change its name to Avangaad Bhd. &nbsp;

In a bourse filing on Monday, it said that this transition is expected to be finalised by the first quarter of 2025, subject to shareholder consent and regulatory clearances.&nbsp;

EA Technique proposes name change to Avangaad Bhd 

The Penang Water Supply Corporation has activated its dry weather protocols since mid-November to ensure adequate water supply in preparation for high water demand during the festive season in the first quarter of 2025.

Its chief executive officer Datuk K Pathmanathan added that the corporation is urging consumers to use water with care during the first quarter of 2025 and recommended that water conservation practices be used till the expected more consistent rainfall occurs in April or May next year.