<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 22):&nbsp; Genting Malaysia Bhd (GenM) said the purchaser of its 15.5 acres of land in Miami has elected to end its current US$1.225 billion bid.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing on Thursday (June 22), AmInvestment Bank on behalf of GenM nevertheless said the purchaser remains interested in the Miami land.</p></div>

<div class=newsTextDataWrapInner><p>It said the purchaser had requested an extension of the exclusivity period and sought amendments to the commercial terms of the sale and purchase agreement.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“However, the Purchaser’s requests were not granted at this time and hence the Purchaser has elected to end its current bid.</p></div>

<div class=newsTextDataWrapInner><p>“GenM has seen the value of its investment in Miami increase approximately 400% in just over a decade, and firmly believes in the sustained strength and growth of the Miami market.</p></div>

<div class=newsTextDataWrapInner><p>“GenM will review other opportunities to close on the sale of the Miami land as-is, while the Company continues to enhance its remaining Miami holdings,” it said.</p></div>

<div class=newsTextDataWrapInner><p>Last week, GenM shareholders on Thursday approved the company’s plans to sell its property in Miami for US$1.225 billion.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (June 22):  Genting Malaysia Bhd (GenM) said the purchaser of its15.5 acres of land in Miami has elected to end its current US$1.225 billion bid.

Genting Malaysia says Miami land parcel purchaser has ended US$1.225 billion bid

The Selangor State Development Corporation (PKNS) is set to launch about 12 projects with a gross development value (GDV) of RM1.5 billion in 2025, reflecting its commitment to advancing Selangor’s property market, said group chief executive officer Datuk Mahmud Abbas.

PKNS to launch property projects with RM1.5b GDV in 2025

The assistance provided to the people, including the Sumbangan Tunai Rahmah (STR) cash aid, has increased during the first two years of the Madani government's administration, according to Prime Minister Datuk Seri Anwar Ibrahim.

Increased assistance provided to M'sians under Madani govt, says Anwar

The Madani government remains focused on initiatives to develop the country, and will not entertain "trivial" statements that do not contribute to such efforts, said Prime Minister Datuk Seri Anwar Ibrahim.

Govt to disregard 'trivial' statements as it focuses on development — PM

The government is committed to ensuring that the implementation of Madani economic reforms has minimal or no impact on the people in general, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysians won't be burdened by economic reforms, says Anwar

The Adani Group will respond to bribery allegations levelled by the US after a detailed legal review and once it has secured approvals from its counsel to speak on sub-judice issues.

Adani to respond to US bribery allegations after legal review

Philippine Vice President Sara Duterte said on Saturday she would have President Ferdinand Marcos Jr assassinated if she herself were killed, prompting Marcos' office to vow "immediate proper action".

In widening rift, Sara Duterte says she would have Marcos assassinated if she is killed

The Ministry of Transport has proposed the establishment of a dedicated logistics hub in Nilai or Enstek, Negeri Sembilan, to further bolster Malaysia’s logistics sector.

Loke proposes new logistics hub in Nilai or Enstek

President-elect Donald Trump may have campaigned hard against high inflation, but by the time of his Nov 5 election victory financial professionals had moved on from rising prices and begun worrying about rising US debt, possible recession, and risks to global trade as among the top threats to the stability of the financial sector, according to a new Federal Reserve (Fed) survey released on Friday.

Fed survey finds inflation fading as a risk next to debt, trade wars

Bitcoin touched a record high on Friday, with its sights set firmly on the US$100,000 (RM446,800) barrier, in a stellar rally for the cryptocurrency sparked by expectations of a more friendly regulatory environment under a Donald Trump administration.

Bitcoin at record highs, sets sights on US$100,000

The health of the US consumer and the retail sector will be in focus in the coming week, as Black Friday kicks off a holiday shopping season that could shed light on how buyers are grappling with higher prices.

Black Friday puts consumer spending in market's glare with stocks near records

<p>The government has increased the rooftop solar capacity by another 300MW for the commercial and industrial segment, and by 50MW for households.&nbsp;</p>


Additional rooftop solar quota for M'sian businesses, households

<p>When Kumpulan Wang Persaraan (Diperbadankan) (KWAP) was established in 2007, with an initial fund of RM41.9 billion, the federal government’s pension and gratuity obligations stood at a mere RM8.25 billion, just 6.7% of its total operating expenditure (opex).</p>


The pension conundrum: KWAP pushes for thoughtful reform amid growing charges

<p>The Ministry of Transport has proposed the establishment of a dedicated logistics hub in Nilai or Enstek, Negeri Sembilan, to further bolster Malaysia’s logistics sector.</p>


<p>The corporate earnings reporting season for the July-September quarter comes to a close this week. Among the companies slated to announce their financial results are banking groups <b>Malayan Banking Bhd</b> (KL:MAYBANK), <b>Public Bank Bhd</b> (KL:PBBANK), <b>RHB Bank Bhd</b> (KL:RHBBANK) and <b>Hong Leong Bank Bhd</b> (KL:HLBANK) as well as utility giant <b>Tenaga Nasional Bhd</b> (KL:TENAGA).</p>


The Week Ahead: Spotlight on corporate earnings of banks, Tenaga and Opec+ meeting

<p>President-elect Donald Trump on Friday said he will nominate prominent investor&nbsp;Scott Bessent&nbsp;as the US&nbsp;Treasury secretary, a key Cabinet position with vast influence over economic, regulatory and international affairs.</p>


Trump taps tax reform, deregulation advocate Scott Bessent for Treasury

<p>Keck Seng (M) Bhd (KL:KSENG) booked an unrealised foreign exchange (forex) loss of RM81.84 million in the third quarter ended Sept 30, 2024 (3QFY2024), which in turn dragged the group into the red.&nbsp;</p>


Unrealised forex loss of RM81.8 mil pulls Keck Seng into the red in 3Q

<p>Nvidia&nbsp;chief executive officer Jensen Huang said on Saturday that global collaboration and cooperation in technology will continue, even if the incoming US&nbsp;administration imposes stricter export controls on advanced computing products.</p>


Nvidia CEO says global cooperation in tech will continue under Trump administration

<p>Philippine Vice President Sara Duterte said on Saturday she would have President Ferdinand Marcos Jr assassinated if she herself were killed, prompting Marcos' office to vow "immediate proper action".</p>


<p>Bitcoin touched a record high on Friday, with its sights set firmly on the US$100,000 (RM446,800) barrier, in a stellar rally for the cryptocurrency sparked by expectations of a more friendly regulatory environment under a&nbsp;Donald Trump&nbsp;administration.</p>


<p>Global&nbsp;stocks registered&nbsp;a strong weekly gain on Friday, while US&nbsp;Treasury yields&nbsp;slipped as&nbsp;markets&nbsp;eyed President-elect&nbsp;Donald Trump's likely policies&nbsp;and their&nbsp;impact on the US&nbsp;economy, even as bitcoin traded near the US$100,000 (RM446,800) threshold.</p>


Stocks notch strong weekly gain, US yields slip as markets eye Trump policies

<p>Amazon.com Inc&nbsp;is investing an additional US$4 billion (RM17.87 billion) in artificial intelligence (AI) startup Anthropic, boosting its stake in one of OpenAI’s chief rivals.</p>


Amazon invests additional US$4b in AI firm Anthropic

<p>US&nbsp;bank Citigroup has received approval to establish&nbsp;its regional headquarters in Saudi Arabia's Riyadh, according to an internal memo seen by<em> Reuters </em>on Friday.</p>


Citi granted licence for regional headquarters in Saudi Arabia, memo shows

<p>The Madani government remains focused on initiatives to develop the country, and will not entertain "trivial"&nbsp;statements that do not contribute to such efforts, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


<p>Prime Minister Datuk Seri Anwar Ibrahim is scheduled to officiate the Two Years of Madani Government (2TM) Programme and the 2024 National Convention on Public Service Reform in the Kuala Lumpur Convention Centre on Saturday.</p>


PM to officiate 'two years of Madani govt' programme, national convention on public service reform on Saturday

<p>The Adani Group will respond to bribery allegations levelled by the US after a detailed legal review and once it has secured approvals from its counsel to speak on sub-judice issues.&nbsp;</p>


<p>Japanese Prime Minister Shigeru Ishiba’s Cabinet approved a stimulus package that’s slightly bigger than last year’s, as he followed up on a pledge to ramp up support for households and businesses struggling to cope with higher costs.</p>


Japan’s Cabinet approves stimulus in show of progress for Ishiba

<p>President-elect&nbsp;Donald Trump&nbsp;may have campaigned hard against high inflation, but by the time of his Nov&nbsp;5&nbsp;election victory&nbsp;financial professionals had moved on from rising prices and begun worrying about rising US&nbsp;debt, possible recession, and risks to global trade as among the top threats to the stability of the financial sector, according to a new Federal Reserve (Fed) survey released on Friday.</p>


<p>As of the end of October, Malaysia’s 5G coverage in populated areas had reached 82.1%, up from 80.2% last year, while internet coverage in populated areas stood at 98.38%, compared with&nbsp;97.07% in 2023.</p>


Malaysia's 5G coverage hit 82.1%, internet access near 100% at end-October — ministry

<p>Lattice Semiconductor Corp&nbsp;is considering making an offer for all of Intel Corp’s Altera, people familiar with the matter said, in a twist that could complicate the chip giant’s plans to sell a minority stake in the unit.&nbsp;</p>


Lattice Semiconductor mulling offer for Intel’s Altera unit, Bloomberg reports

<p>Saudi Arabia’s sovereign rating was upgraded by Moody’s Ratings for the first time since the company first assessed the kingdom in 2016.</p>

<p>The rating&nbsp;company took the kingdom’s creditworthiness up a notch to Aa3, its fourth-highest grade, according to a statement on Friday. The Moody’s rating is now above those of Fitch Ratings and S&amp;P Global Ratings.&nbsp;</p>
