<div class=newsTextDataWrapInner>SINGAPORE (Aug 28):&nbsp;Malaysian pet food retailer Petico has acquired Perromart’s assets. Perromart is a Singaporean online retailer that sells pet food, accessories and others.</div>

<div class=newsTextDataWrapInner>The acquisition includes Perromart’s inventory, customer data, domain name, warehouse equipment and fittings, as well as intellectual property rights for Perromart’s in-house brands.</div>

<div class=newsTextDataWrapInner>The acquisition does not include Perromart’s liabilities, such as bank loans and trade creditors<a href="https://www.theedgesingapore.com/news/ma/malaysian-pet-food-retailer-petico-acquires-perromarts-assets" target="_blank">...(click here for the full story on theedgesingapore.com).</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

Malaysian pet food retailer Petico has acquired Perromart’s assets. Perromart is a Singaporean online retailer that sells pet food, accessories and others.

Malaysian pet food retailer Petico acquires Perromart’s assets

Kuala Lumpur Kepong Bhd (KL:KLK) reported a record low net profit for its fourth quarter, dragged by non-cash losses and an inventory write-down related to its investment in an overseas associate, Synthomer Plc. The losses and impairment at Synthomer, coupled with lower property development profit, pulled Batu Kawan Bhd (KL:BKAWAN), which owns 47% in KLK, into the red in the same quarter.

Batu Kawan falls into the red as KLK reports record low profit on one-off losses, impairments

Rivian Automotive Inc won preliminary approval for a US$6.6 billion (RM29.42 billion) federal loan that would support the construction of an electric-vehicle (EV) factory the company put off building earlier this year to save money.

Rivian wins preliminary approval for US$6.6b federal loan

Businessman Datuk Eddie Ong Choo Meng, a controlling shareholder in Hextar Global Bhd (KL:HEXTAR), has continued to pare down his stake in the agrochemical and fertiliser trading company.

Eddie Ong continues to trim stake in Hextar Global  

Vietnamese electric vehicle (EV) manufacturer VinFast on Tuesday reported a smaller US$550 million (RM2.45 billion) net loss for the third quarter compared with a year earlier, helped by lower costs for materials and ramped-up production volumes.

EV maker VinFast narrows 3Q losses, beats revenue estimates on strong demand

Citigroup is cutting the number of year-end promotions it awards as it seeks to hold costs down amid a long-term restructuring to shrink headcount, the Financial Times reported on Tuesday.

Citigroup slashes promotions as it seeks to overhaul bank — report

The rent-to-own (RTO) scheme will be extended to the upcoming Residensi Rakyat Programme (PRR), set to launch next year, Housing and Local Government Minister Nga Kor Ming announced.

Rent-to-own scheme to be extended to upcoming Residensi Rakyat Programme, says Nga

China’s largest jewellery retailer Chow Tai Fook Jewellery Group Ltd saw revenue plunge 20.4% in the half year ended September, the biggest drop for the period since 2016 as the world’s No 2 economy slows and record high gold prices dent luxury spending.

Hong Kong's Chow Tai Fook sees steep revenue fall amid China slowdown

Prime Minister Datuk Seri Anwar Ibrahim’s three-day working visit to South Korea, which ended on Tuesday, has generated potential investments worth RM32.8 billion for Malaysia.

Visit to South Korea yields RM32.8b in potential investments, says Anwar

Sunway Bhd (KL:SUNWAY) posted a net profit of RM376.08 million for the third quarter ended Sept 30, 2024 (3QFY2024), more than doubled than a year ago when it registered RM180.3 million, on stronger operating performance across its core businesses.

Sunway's net profit doubles in 3Q, as order book replenishment target of RM4 bil-RM5 bil achieved

The Royal Malaysian Police have revealed that TikTok is becoming the app of choice for criminal syndicates looking for victims to promote their investment scams, as the app is fast being adopted by social media users.

TikTok becoming app of choice for criminals promoting investment scams — police

Penang Development Corporation (PDC) has rejected an RM818 million bid by a tripartite consortium led by IJM Corporation Bhd (KL:IJM) to develop the Batu Kawan Industrial Park 2 in Penang, Free Malaysia Today (FMT) reported.

Penang Development Corp rejects RM818 mil bid by IJM-led consortium to develop Batu Kawan industrial park — report

Malayan Banking Bhd (KL:MAYBANK), the country’s largest bank by assets, on Tuesday reported that its quarterly net profit rose 7.6% from a year earlier, as non-interest income growth offset a decline in net interest income.

Maybank's 3Q net profit edges up 7.6% as non-interest income rise offsets decline in interest revenue

Aluminium products manufacturer Winstar Capital Bhd has launched the prospectus for its ACE Market initial public offering (IPO), aiming to raise up to RM25.88 million to purchase new machinery and equipment to expand its manufacturing capacity.

Winstar Capital launches ACE Market IPO at 35 sen per share to raise RM26 mil

Shares of Hong Leong Industries Bhd (KL:HLIND) hit a new record high on Tuesday, after the motorcycle assembler reported a surge in quarterly profits.

Hong Leong Industries shares hit new all-time high amid surge in 1Q profit

The Public Accounts Committee (PAC) has found that Mara Incorporated Sdn Bhd (Mara Inc) purchased&nbsp;overvalued properties in London and Australia&nbsp;in&nbsp;2013 and 2014.

Mara Inc bought overvalued properties in London and Melbourne — PAC

Six years since the financial woes of Lembaga Tabung Angkatan Tentera (LTAT) and Boustead Holdings Bhd came to light, there is still no firm plan in place to nurse either entity back to health.

Alternative Views: LTAT’s obsession with Boustead remains a puzzle

YTL Power International Bhd (KL:YTLPOWR) saw its net profit for the first quarter ended Sept 30, 2024 (1QFY2025) fall 44.5% compared to the previous year’s corresponding period due to a decline in the group’s power generation business.

YTL Power’s 1Q net profit down 44.5% on decline in power generation business

Malaysia's national electricity utility Tenaga Nasional Bhd (KL:TENAGA) is owed more than RM1 billion in arrears from over 600,000 accounts at the end of September which have been disconnected.

Tenaga is owed more than RM1 bil from over 600,000 accounts in arrears

Shares of MBM Resources Bhd (KL:MBMR) broke another new record high on Tuesday, as the company declared a special dividend following better-than-expected results.

MBM Resources' shares touch new highs on special dividend; analysts wary of further upside

Youth and Sports Minister Hannah Yeoh Tseow Suan disagreed with the notion that her autobiography titled&nbsp;Becoming Hannah: A Personal Journey&nbsp;had caused uneasiness among Muslims, as the book had been read by Muslims and non-Muslims alike, and added that the Home Ministry had not banned her book.

Hannah Yeoh: My autobiography did not cause uneasiness among Muslims

The Federation of Investment Managers Malaysia (FIMM) recently reprimanded three former unit trust scheme (UTS) and private retirement scheme (PRS) consultants for breaching FIMM’s Consolidated Rules and Code of Ethics.

In a statement on Tuesday, the federation said a former UTS consultant at CIMB Bank Bhd, Nur Syuhaida Rozaidi, was found violating Paragraph 3.1 of FIMM’s Code and Rule 4.2.1 of the Consolidated Rules.

FIMM reprimands former consultants for misconduct

Pharmaniaga Bhd (KL:PHARMA) on Tuesday reported that it has turned around in the third quarter thanks to higher sales and the reversal of penalty charges from the government.

Pharmaniaga turns around in 3Q, expects strong close to 2024

The Ministry of Finance (MOF) announced on Tuesday that it has decided to register MyData Informatica Sdn Bhd and One Future Solutions Sdn Bhd as new credit reporting agencies.

MOF announces MyData Informatica and One Future Solutions as credit reporting agencies

PLAGUED by an oversupply glut, Lotte Chemical Titan Holding Bhd (LC Titan) (KL:LCTITAN) is facing its toughest challenge since relisting on Bursa Malaysia in July 2017. Analysts are of the view that “noting much can be done for the time being, except to wait for polymer prices to rebound”.
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Lotte Chemical Titan’s tough time to continue as no signs of petrochemical supply-demand dynamics improving, say analysts

Huawei Technologies Co will from next year strip its smartphones and tablets of Google’s open-source Android and move devices to homegrown software, broadcasting its ambitions to pivot away from US technology.

Huawei drops Android from gadgets next year in China tech pivot

China's electric vehicle giant BYD said it will launch a new generation of blade batteries in 2025, Chinese state media CGTN reported on Saturday.

BYD says it will launch new generation of blade batteries next year

Shares of Gas Malaysia Bhd (KL:GASMSIA) rose on Tuesday and flirted with their all-time highs after the natural gas distribution company reported record earnings that came in above consensus expectations.

Gas Malaysia shares flirt with all-time highs; analysts warn of weaker outlook after record earnings

Eastern &amp; Oriental Bhd (KL:E&amp;O) on Tuesday declared a special dividend, even as the property developer’s net profit only edged up slightly in the second financial quarter from a year earlier.

E&O declares special dividend of one sen, 2Q net profit up 2.2%

Malaysia's digital economy is poised to reach US$31 billion (RM138.4 billion) in gross merchandise value (GMV) in 2024, an increase of 16% from 2023.

According to the latest e-Conomy Southeast Asia (SEA) 2024 by Google, Temasek and Bain &amp; Company, the country's digital economy has progressed towards profitability while maintaining double-digit growth for GMV.

Malaysia's digital economy to reach US$31 bil in 2024 — report

Analysts are positive on IJM Corporation Bhd’s (KL:IJM) investment in JRL Group Holdings Ltd, as the move is expected to strengthen its presence in the UK construction sector. &nbsp;