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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: MARC says weak exchange rate a ‘temporary boost’, warns of ‘de-development’</p></div>
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<div class=newsTextDataWrapInner><p>Here’s a quick look at some of the stories that made headlines today.</p></div>

<div class=newsTextDataWrapInner><p>Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.</p></div>

<div class=newsTextDataWrapInner><p>1. Malaysia Rating Corp Bhd has <a href="https://theedgemalaysia.com/node/673317" target="_blank">warned </a>that long-term reliance on a weaker currency exchange rate could put a nation towards a “race to the bottom”.</p></div>

<div class=newsTextDataWrapInner><p>2. Proton Holdings Bhd is <a href="https://theedgemalaysia.com/node/673328" target="_blank">divesting </a>a 60% stake in a subsidiary to Thailand-listed Aapico Hitech PCL as both parties eye an expansion path.</p></div>

<div class=newsTextDataWrapInner><p>3. Uzma Bhd announced that it is looking to <a href="https://theedgemalaysia.com/node/673310" target="_blank">partner </a>with Malaysia Marine and Heavy Engineering Holdings Bhd to jointly provide services in the oil and gas industry.</p></div>

<div class=newsTextDataWrapInner><p>4. Radium Development Bhd said its unit has been <a href="https://theedgemalaysia.com/node/673354" target="_blank">granted </a>an extension of time to submit its statement of defence in regard to the lawsuit filed by purchasers of its property development.</p></div>

<div class=newsTextDataWrapInner><p>5. The government has temporarily <a href="https://theedgemalaysia.com/node/673346" target="_blank">suspended </a>the quota application and approval for foreign workers for all sectors in Malaysia, including the scrap goods sub-sector, said Human Resources Minister V Sivakumar.</p></div>


EVENING 5: Five things you need to know today

KUALA LUMPUR (Oct 29): Pharmacy chains operator Big Caring Group Bhd's initial public offering is looking to raise RM2.03 billion in Malaysia's second-largest listing this year.

Big Caring sets Main Market IPO at RM1.08 apiece

(Oct 30): Qatari mediators returned to Tehran on Friday as part of efforts to reach a deal between the US and Iran, an official briefed on the talks told Reuters.

Qatari mediators return to Tehran to push for US-Iran deal, official says

GIIB Holdings Bhd (KL:GIIB) told Bursa Malaysia it is unaware of any corporate developments that could have caused the sharp fall in its share price on Thursday, prompting the market regulator to query the group for unusual market activity (UMA).

GIIB tells Bursa unaware of reason for sharp drop in share price 

KUALA LUMPUR (Oct 30): Mestron Holdings Bhd (KL:MESTRON) has obtained a new feed-in approval (FiA) from the Sustainable Energy Development Authority Malaysia (Seda Malaysia) to expand its biogas power generation facility in Gua Musang, Kelantan.

Mestron unit obtains Seda approval to expand biogas power generation facility in Kelantan

BENGALURU (Oct 30): Australia's Coles said on Friday that heightened promotional activity from competitors hurt early second-quarter sales as cost-conscious shoppers sought bargains, sending its shares to their steepest single-day decline in more than six years.

Australia's Coles marks steepest fall since 2020 as rival promotions bite

The Malaysian Communications and Multimedia Commission (MCMC) has issued spectrum assignments to CelcomDigi Bhd via its wholly-owned subsidiary, CelcomDigi Telecommunications Sdn Bhd (CDTel), for the 2600 MHz and 900 MHz frequency bands under Lot B of the Applicant Information Package No 1 of 2026.

MCMC issues spectrum assignments to CelcomDigi

TOKYO (Oct 30): The Bank of Japan (BOJ) kept interest rates steady on Friday, but declared victory in a nearly 14-year battle to hit its price target and signalled vigilance against inflation risks, suggesting the next rate hike could be as soon as December.

BOJ declares victory in hitting price target, signals near-term hikes

CelcomDigi Bhd (KL:CDB) said on Friday it has received spectrum assignments for two blocks each in the 2600-megahertz and 900-megahertz frequency bands.

CelcomDigi gets formal spectrum assignments, discloses annual fees

Sepang International Circuit (SIC) hopes Petronas will continue its commitment as title sponsor of the Malaysian Motorcycle Grand Prix (MotoGP) after the current contract ends this year, ensuring the continuity of a strategic partnership that began in 2022.

SIC chief executive officer Azhan Shafriman Hanif said the circuit hopes discussions between the current title sponsor and MotoGP commercial rights holder Dorna Sports will reach a positive outcome for both parties to continue staging the prestigious race together.

SIC hopes Petronas will continue as MotoGP Malaysia title sponsor until 2031

WHEN a company faces concerns about questionable transactions or financial records, public attention often turns quickly to one question. Was there fraud? It is an understandable reaction, particularly when public funds, investors’ money or the reputation of a major institution may be at stake. But there is another question worth asking. How should an organisation respond when something appears wrong, before the facts are fully established?

Opinion: From irregularities to accountability: The real test of corporate governance

<p>KUALA LUMPUR (Oct 30): All three audit committee members of Zetrix AI Bhd (KL:ZETRIX) and the majority of its board members resigned within a month, citing personal commitments.</p>

<p>The departure leaves the embattled company with only three directors remaining after four out of seven board ...

Zetrix AI loses entire audit committee, most board members resign

<p>Rakuten Trade Sdn Bhd’s online trading for Bursa Malaysia stocks has been disrupted for more than a week following precautionary measures taken in response to a cybersecurity attempt, with no confirmed date for services to resume.</p>


Rakuten Trade’s Bursa trading has been down for over a week following cyberattack, with no restart date

<p>(Oct 30):&nbsp;A US majority-owned startup plans to invest US$600 million in a rare-earth refinery in Malaysia, seeking to develop a new source of the critical minerals as Washington pushes to reduce its reliance on China.</p>


US-owned startup plans US$600 mil Malaysia rare-earth refinery

<p>Indonesia is set for more consistent rain next month, providing relief from wildfires that have spewed toxic smoke across Singapore and Malaysia, though widespread downpours are still weeks away.</p>


Indonesia rain set to ease toxic haze in Singapore, Malaysia

<p>(Oct 29):&nbsp;Intel shares plunged 21% on Thursday after ​the chipmaker said a deadly explosion at its Israel factory would erase roughly $600 million in revenue over two quarters, while a faltering PC market could ‌dent sales through the first half of next year.</p>

<p>A below-estimates fore...

Intel shares drop 21% on Israel factory blast, PC weakness

<p>MyDCD Bhd may have 91% upside to its listing price though there are risks that investors of the mechanical and electrical engineering firm have to watch out for, according to an analyst.</p>


MyDCD may have 91% upside, but watch out for risks, says analyst

<p>Hackers stole US$6.3 billion from Binance, the world's largest cryptocurrency exchange, in what analysts say is the biggest crypto hack ever, an attack that could prompt investors to rethink the risks of owning digital assets.</p>

<p>The hackers behind the raid were from North Korea, according to US blockchain analysis firms TRM Labs and Chainalysis. The attackers targeted Binance wallets on 10 blockchains and shifted most of the funds in about 20 minutes, TRM Labs said in a statement.</p>


Binance freezes assets after US$6.3 billion heist, crypto industry's biggest

<p>SINGAPORE (Oct 30): Tech shares slumped in Asia on Friday, while the yen rose and bonds surged towards their biggest monthly gain in nearly three years, as investors scurried to safety against worries that huge and rising AI spending may not deliver sufficient returns.</p>


Stocks slump, bonds leap as AI giants' spending spooks investors

<p>MBSB Research remains positive on YTL Power International Bhd’s (KL:YTLPOWR) longer-term growth prospects, underpinned by the ramp-up of its data centre operations in Kulai, Johor, the planned expansion into Sedenak Tech Park West (STeP West), and rising opportunities in the power and digital infrastructure sectors.</p>


MBSB Research sees potential for 4GW data centre campus at YTL Power’s Bukit Kerayong site

<p>SINGAPORE (Oct 30):Oil prices rose on Friday — set for a fourth monthly gain — as an attack on a tanker in the Strait of Hormuz highlighted the continuing supply risks from the US-Israeli war on Iran, which has entered its eighth month.</p>


Oil set for fourth monthly gain as Hormuz tanker attack highlights supply risks from war

<p>PPB Group Bhd (KL:PPB) could see weaker earnings for its third quarter ended Sept 30, 2026 (3QFY2026) following a sharp decline posted by key associate Wilmar International Ltd, said CIMB Securities.</p>


PPB faces weaker 3Q after Wilmar's margins hit by costs, soybean crushing margins — CIMB Securities

<p>(Oct 29): Cash flow is king again.</p>

<p>Wall Street rewarded Microsoft and Oracle on Wednesday for showing that they could ​fund their enormous AI ambitions without endlessly tapping investors.</p>

<p>Alphabet, by contrast, was punished for burning through cash, while Google Search's slow...

Cash is king as investors draw new battle lines in AI spending boom

<p>KUALA LUMPUR (Oct 30): The Waterfront Shoppes (TWS) at The Light City in Penang has officially held its soft opening, according to a press statement issued on Thursday (Oct 29). It is located within The Light City, an integrated development that is a joint venture between IJM Corp Bhd (KL:IJM) and Singapore-headquartered Perennial Holdings Private Ltd.</p>


Perennial, IJM Land mark soft opening of Penang's The Waterfront Shoppes

<p>(Oct 29): Amazon.com&nbsp;on Thursday reported a massive cash burn in the third quarter, sending shares sharply lower, while it signaled higher capital expenditures next year atop an already ​huge amount in 2026.</p>

<p>Amazon's cloud computing cash cow, Amazon Web Services, continued to accel...

Amazon sinks as AI spending eclipses fastest cloud growth in five years

<p>KUALA LUMPUR (Oct 30): Jin Jiang Hotels (Malaysia) is set to introduce Southeast Asia's first Renjoy Hotel in Desaru, Johor, alongside plans to launch a 7 Days Premium Hotel in Tanjung Malim, Perak in the first half of 2027, according to a press statement issued on Thursday (Oct 29). Details of the latter are forthcoming.</p>


Jin Jiang Hotels to open region's first Renjoy Hotel in Desaru; plans 7 Days Premium hotel in Tanjung Malim, Perak

<p>KUALA LUMPUR (Oct 30): Bank Negara Malaysia (BNM) has appointed Federal Territories Mufti Ahmad Fauwaz Fadzil as a member of its Shariah Advisory Council (SAC) for a two-year term, effective Nov 1.</p>


FT Mufti Ahmad Fauwaz joins Bank Negara’s Shariah Advisory Council

<p>(Oct 29): Wall Street's top alternative asset managers are betting on the AI boom by owning the infrastructure behind it and locking ​in rent through long-term leases.</p>

<p>With concerns growing that debt-laden neocloud companies at the heart of the AI infrastructure boom could default and ‌...

Wall Street's AI bet: Own the infrastructure, collect the rent

<p>OSLO (Oct 29):&nbsp;Forecasts published on Thursday of rapid growth in power demand from data centres in Norway have further underscored concerns among policymakers and energy market operators, ​with one political party calling an emergency debate in parliament next week that ‌may lead to a ban o...

Data centre growth triggers backlash in Norway over power deficit concerns

<p>A selloff in several tech companies spurred a rotation into a broader category of stocks while fueling a push toward the safety of bonds.</p>


Stock rotation hits AI winners on spending worries

<p>KUALA LUMPUR (Oct 30): Malaysia appears to be weathering the energy shock with inflation chugging along at a benign pace, reducing the urgency to tighten policy rate, HSBC said on Friday.</p>
