<div class=newsTextDataWrapInner>KUALA LUMPUR (May 31): Eight shareholders of Sarawak Consolidated Industries Bhd (SCIB) want to hold an extraordinary general meeting (EGM) to remove three directors from the board and replace them with four new candidates.</div>

<div class=newsTextDataWrapInner>According to a bourse filing on Wednesday (May 31), the shareholders are Lim Hau Yang, Ang Sok Kiang, One Ungguh Holdings Sdn Bhd, Teo En Chie, Lee Chee Hoon, Chin Choon Wei, Liaw Way Gian and Hong Mei Ying, who collectively hold more than 10% of the issued share capital of the company.</div>

<div class=newsTextDataWrapInner>The directors they are seeking to remove are Noor Azri Noor Azerai, Mohd Shakir Shahimi, and &nbsp;Nuraiman Shaiful Annuar.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Meanwhile, the four new directors the shareholders are seeking to have appointed are Kang Wei Luen, Dang Nguk Ling, Liaw, and Pakharuddin Mohd Samin.</div>

<div class=newsTextDataWrapInner>The shareholders are also moving a resolution to have anybody appointed as a director between the date of the notice and up to the commencement of the EGM to be removed immediately.</div>

<div class=newsTextDataWrapInner>SCIB closed up three sen or 16.22% to 21.5 sen on Wednesday, for a market capitalisation of RM130.51 million.</div>

Eight shareholders of Sarawak Consolidated Industries Bhd (SCIB) want to hold an extraordinary general meeting (EGM) to remove three directors from the board and replace them with four new candidates.

Eight SCIB shareholders seek EGM to boot Azri Azerai, two others from board, appoint four new directors

Canadian police on Friday made arrests linked to the murder of Sikh separatist leader Hardeep Singh Nijjar in the province of British Columbia in June 2023, a source directly familiar with the matter said.

The source, who requested anonymity given the sensitivity of the case, said the Royal Canadian Mounted Police would brief media later on Friday.

Canada police make arrests linked to murder of Sikh leader Hardeep, says source

Just over six months ahead of the US election, the world is starting to consider what a return to a Trump presidency might mean. While Americans might be weighing up the difference between the two candidates domestic policies, the rest of the globe is more interested in what foreign policy decisions he might make.

What a second Trump presidency might mean for the rest of the world

The European Commission has warned three Chinese electric vehicle makers that they have not supplied sufficient information for its anti-subsidy investigation, according to two people familiar with the case.

If the Commission concludes that the provided information from sampled companies BYD, SAIC and Geely is insufficient, it could use evidence available elsewhere to compute tariffs, a move that can inflate them.

EU says information from three Chinese EV makers insufficient

Wall Street's main indexes advanced on Friday after a softer-than-expected jobs report revived hopes of the Federal Reserve cutting interest rates this year, while gains in Apple and Amgen also helped.

US job growth slowed more than expected in April and the increase in annual wages fell below 4% for the first time in nearly three years. The unemployment rate came in higher than estimated.

Wall St rallies after soft jobs data allays rate jitters

Prime Minister Datuk Seri Anwar Ibrahim has given the assurance that salary increase for civil servants starting this December, as announced two days ago, can be implemented through strict financial management.

Anwar, who is also Finance Minister, said the projected salary adjustment, estimated to cost over RM10 billion from next year onward, is feasible with disciplined financial oversight.

Civil servants salary hike achievable through prudent financial management — Anwar

Mastering Artificial Intelligence (AI) is crucial to ensure Malaysians themselves determine the cultural and moral values within this technology.

Prime Minister Datuk Seri Anwar Ibrahim said if AI is not mastered, the values and morals embedded in it will be determined by those who control the technology, particularly from Western countries.

Master AI to shape own moral values, cultural impact in technology — PM

Pakatan Harapan (PH) candidate Pang Sock Tao has unveiled a five-pronged manifesto for the Kuala Kubu Baharu (KKB) state by-election.

Themed 'Kekal Kuala Kubu', the manifesto focuses on economic aspects; facilities; environment and recreation; heritage and culture; and the people's well-being.

KKB polls: PH candidate unveils five-point manifesto

Johor Menteri Besar Datuk Onn Hafiz Ghazi hopes more Johoreans living outside Johor will return to the state and contribute ideas to ensure progress and development in the state that they were born in.

According to Onn Hafiz, the state government has initiated efforts to attract Johoreans who have progressed in their professional careers to come back and serve the state in efforts to turn Johor into developed status.

Onn Hafiz hopes Johoreans living elsewhere can come back and contribute ideas to develop the state

MJets Air Sdn Bhd has entered into an aircraft charter agreement with Teleport Everywhere Pte Ltd (Singapore).

MJets Air is the commercial air cargo operator of MMAG Aviation Consortium Sdn Bhd, under the umbrella of MMAG Holdings Bhd, while Teleport, which caters to Teleport Commerce Malaysia Sdn Bhd, is an integrated logistics solutions provider and logistics venture of Capital A Bhd.

MJets Air inks aircraft charter agreement with Teleport Everywhere

KUALA LUMPUR (May 3): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Boustead Heavy Industries Corp Bhd’s (BHIC) planned disposal of its 20.77% stake in Lumut Naval Shipyard Sdn Bhd (Lunas) to the Ministry of F...

BHIC, Berjaya Corp, F&N, Pestech, PetGas, XOX, TT Vision, Uzma, SLP, WTK, Ranhill Utilities and Sarawak Cable

Ranhill Utilities Bhd will cooperate with the Malaysian Anti-Corruption Commission (MACC) throughout an investigation involving its employees, it said on Friday.

“We are alarmed and take serious note of the matter. We shall cooperate fully with MACC in its investigation if required,” Ranhill said in a bourse filing.

Ranhill to cooperate with MACC over bribery probe on employees

KUALA LUMPUR (May 3): Fresh vegetables wholesaler and distributor Farm Price Holdings Bhd, which is set for listing on the ACE Market of Bursa Malaysia on May 14, said on Friday that its initial public offering (IPO) had been oversubscribed by 91.35 times.

ACE Market-bound Farm Price’s IPO oversubscribed by 91.35 times

GEORGE TOWN (May 3): China Southern Airlines plans to double its weekly flights from Guangzhou, China to Penang, increasing from seven to 14, starting June 20.

China Southern Airlines to double weekly flights to Penang starting June 20

Seventy-eight property owners in Hatten Square, Melaka, have obtained a summary judgement from the High Court there against the main developer, MDSA Development Sdn Bhd, which requires the company to pay them RM2.009 million in rental arrears for a mix of commercial and residential units, and the return of RM591,143.90 as payment for refurbishments that were never done.

Judge Mohd Radzi Abdul Hamid allowed the plaintiffs' application for a summary judgment as he ruled that there was no arguable case.

78 property owners obtain summary judgment against Hatten Square developer over unpaid rents, non-existent refurbishments

Practice Note 17 (PN17) outfit Sarawak Cable Bhd announced that Datuk Seri Fong Joo Chung has stepped down as non-independent non-executive deputy chairman, effective immediately.

Fong, 75, resigned due to personal reasons, prevailing circumstances, and recent developments concerning the company, the cable manufacturer said in its filing.

Fong Joo Chung steps down as Sarawak Cable deputy chairman

Pestech International Bhd has lost an appeal to stop the tampering of machineries used in the Gemas-Johor electrified double track project by main contractor Syarikat Pembenaan Yeoh Tiong Lay Sdn Bhd (SPYTL).

Pestech loses another appeal in Gemas-JB double track dispute

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

EVENING 5: Five things you need to know today

XOX Bhd has proposed to undertake a share capital reduction to wipe out RM303 million of the virtual mobile network operator’s accumulated losses.

The company, which had been in the red for five straight years, had racked up losses totalling RM307.48 million by the end of 2023 despite a slew of fundraising exercises.

XOX proposes RM303mil share capital reduction

KUALA LUMPUR (May 3): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:

Boustead Heavy Industries Corp Bhd’s (BHIC) planned disposal of its 20.77% stake in Lumut Naval Shipyard Sdn Bhd (Lunas) to the Ministry of F...

Boustead Heavy Industries Corp Bhd’s (BHIC) planned disposal of its 20.77% stake in Lumut Naval Shipyard Sdn Bhd (Lunas) to the Ministry of Finance (Inc)-owned Ocean Sunshine Bhd has turned unconditional after shareholders of BHIC endorsed the RM1 deal.

BHIC’s stake sale in LCS contractor to MOF turns unconditional

Plastic packaging maker SLP Resources Bhd’s net profit surged 63% in the first quarter from a year earlier bolstered by better product mix and higher output.

Net profit for the three months ended March 31, 2024 (1QFY2024) was RM4.94 million compared with RM3.03 million over the same period last year, SLP said in an exchange filing. Earnings per share came in at 1.56 sen in 1QFY2024, higher than 0.96 sen in 1QFY2023.

SLP Resources net profit soars on better product mix, higher output

Perak Mufti Datuk Seri Wan Zahidi Wan Teh said accusing any party of insulting Islam must be proven before considering a boycott.

He said one of the crucial elements in criminal behaviour is intent or "alqasdul jinaei" (criminal intent).

Allegations of insulting Islam must be proven before boycott — Perak Mufti

The Road Transport Department (RTD) has issued a recall notice for 600 units of Chery's Omoda 5 model vehicles, effective immediately, in response to a widely circulated incident on social media that occurred on April 28.

In a statement, the RTD announced that they have summoned Chery Corporate Malaysia Sdn Bhd to conduct a thorough investigation and gather additional information to ensure the safety of both vehicle owners and road users.

RTD issues immediate recall of 600 Chery Omoda 5 SUVs

The Energy Commission (EC) has raised the tariff to transport gas via Peninsular Malaysia’s gas pipeline, owned and operated by Petronas Gas Bhd (PetGas), to RM1.096 per gigajoule per day (GJ/day) for 2024, versus a base of RM1.063 GJ/day under Regulatory Period 2 (2023-2025).

PetGas gets nod for gas transportation tariff hike; regas sees mixed adjustment

Plantation company WTK Holdings Bhd is raising its stake in Sarawak-based rival Durafarm Sdn Bhd by another 15% for RM28.33 million.

WTK buys another 15% in Sarawak planter Durafarm for RM28m

HSBC has no current plans to sell more assets, its chairman Mark Tucker said on Friday at the annual shareholder meeting of the bank, which has scaled back its presence in Western markets in recent years as part of a sweeping overhaul.

HSBC has no plans to dispose of further businesses, chairman says

Penang-based automated test equipment (ATE) maker TT Vision Holdings Bhd is looking to raise RM25.27 million via a private placement of up to 23.4 million shares or 5% of its enlarged share base.

This is the group’s first fund-raising exercise since its listing on the Bursa Malaysia ACE Market in January last year.

TT Vision aims to raise RM25m via private placement to fund solar energy venture

Uzma Bhd has secured a contract from Sarawak Shell Bhd (SSB) and Sabah Shell Petroleum Company Ltd (SSPC) to provide integrated production and integrity chemical and associated services.

Uzma unit secures integrated production contract from Shell

Stern action will be taken against retailers, distributors and importers of products with labels discriminating against palm oil, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.

He said those found guilty could be fined up to RM250,000 under the Trade Descriptions (Prohibition of Use of Statement, Expression or Indication) (Oil Palm Product and Palm Oil Goods) Regulations 2022.

Stern action on traders discriminating against palm oil products — Johari

Prime Minister Datuk Seri Anwar Ibrahim has given the assurance that salary increase for civil servants starting this December, as announced two days ago, can be implemented through strict financial management.

Anwar, who is also Finance Minister, said the projected salary adjustment, estimated to cost over RM10 billion from next year onward, is feasible with disciplined financial oversight.