<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 15): KKB Engineering Bhd said its 60.81%-owned OceanMight Sdn Bhd (OMSB) has initiated arbitration proceedings against Shapadu Energy Services Sdn Bhd, which it subcontracted to undertake certain hook-up and commissioning projects in Sarawak, to resolve a dispute between them over the projects.</p></div>

<div class=newsTextDataWrapInner><p>According to KKB Engineering's bourse filing Friday, OMSB alleged that Shapadu Energy had breached its contractual obligations, leading to the takeover of the projects by OMSB. OMSB awarded the contracts to Shapadu Energy — a wholly-owned unit of Shapadu Corp Sdn Bhd — in December 2019 and January 2020.</p></div>

<div class=newsTextDataWrapInner><p>Hence, OMSB is claiming from Shapadu Energy the costs for the completed projects, loss of profits, all other losses and expenses incurred.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The abovementioned arbitration proceedings commenced by OMSB is not expected to have any material effect on the earnings, net assets and gearing of KKB Group for the financial year ending Dec 31, 2023. The arbitration proceedings are also not expected to have material operational impact on KKB Group,” it added.</p></div>

<div class=newsTextDataWrapInner><p>On Friday, KKB’s share price finished up one sen or 0.69% at RM1.45, giving the group a market capitalisation of RM418.65 million.</p></div>


KKB Engineering Bhd said its 60.81%-owned OceanMight Sdn Bhd (OMSB) has initiated arbitration proceedings against Shapadu Energy Services Sdn Bhd, which it subcontracted to undertake certain hook-up and commissioning projects in Sarawak, to resolve a dispute between them over the projects.

KKB Engineering initiates arbitration against Shapadu to resolve dispute over hook-up, commissioning projects in Sarawak

Thunderstorms, heavy rain and strong winds are expected in Perak, Kelantan, Terengganu, Pahang, Selangor and Johor until 4pm on Saturday.

Thunderstorms in six states until 4pm on Saturday — MetMalaysia

Nippon Steel alleges the White House had "impermissible undue influence" over a national security review of its US$14.9 billion (RM67.2 billion) bid for US Steel and threatened legal action if the deal is blocked.

Nippon Steel alleges undue White House influence on doomed US Steel deal review, letter says

Alphabet Inc’s Google called a US Justice Department (DOJ) plan to force it to sell its web browser “extreme” and at odds with the law, urging a Federal Court judge to take caution lest he stifle innovation and future investment.

Google blasts Chrome sale as ‘extreme’ remedy at odds with law

The launch of a new direct route from Chennai to Penang, via IndiGo, commencing on Saturday, marks a significant milestone in enhancing connectivity, generating economic opportunities, and solidifying Penang’s position as a regional air travel hub.

Direct route from Chennai elevates Penang as key regional air travel hub, says exco

At first glance, Sony Group Corp’s US$1.2 billion (RM5.4 billion) acquisition of the anime streaming site Crunchyroll in 2021 looks like a success. Subscribers to the US$8-a-month service have tripled to 15 million since then, and the number of new shows has doubled to more than 50 every quarter.

Sony's Crunchyroll finds its early lead in anime under attack

Samsung Electronics Co and Texas Instruments Inc completed final agreements to get billions of dollars of government support for new semiconductor plants in the US, cementing a major piece of the Biden administration’s Chips Act initiative.

Samsung, Texas Instruments finalise Chips Act awards deals

OpenAI is preparing to launch a new artificial intelligence (AI) model that it said is capable of more advanced human-like reasoning than its current offerings, ratcheting up the competition with rivals such as Alphabet Inc’s Google.

OpenAI unveils more advanced reasoning model in race with Google

The House passed funding to keep the US government operating until mid-March just hours before a midnight shutdown deadline, capping off a tumultuous two days in which two earlier plans pursued by Speaker Mike Johnson collapsed.

House passes plan to fund US govt as shutdown deadline nears

US President-elect Donald Trump appears committed to imposing high tariffs on imports to the United States – or, at least, using the threat of tariffs to bend US trading partners to his will. Trump now says he will enact a 25% tariff on all imports from Canada and Mexico on his first day in offic...

Asia In The World Economy: Trump’s Tariffs Will Backfire

Volkswagen AG (VW) reached an agreement with labour leaders to cut capacity at its namesake brand while avoiding factory closures, capping three months of tense negotiations and preventing further union walkouts.

VW, union agree to cut capacity and keep German plants open

<p>Bank Negara Malaysia (BNM) announced on Friday evening several temporary measures to address the uproar over the sizeable medical insurance premium hikes that insurance and takaful operators deem necessary to cover the higher costs of medical services.</p>


Who pays the price of runaway healthcare inflation?

<p>Highway users nationwide will enjoy toll-free travel&nbsp;on Dec 23 and 24, in conjunction with&nbsp;Christmas celebration.</p>


Christmas: Toll-free travel for Class 1 vehicles on all highways on Dec 23 and 24

<p>Wall Street surged on Friday and the dollar softened as cooler-than-expected inflation data helped investors look past the possibility of a government shutdown and fresh tariff threats from US&nbsp;President-elect Donald Trump.</p>


US stocks end sharply higher, dollar drops after inflation report

<p>In a<em>&nbsp;Vanity Fair&nbsp;</em>video&nbsp;last month, Lisa, a member of mega&nbsp;K-pop&nbsp;band Blackpink, shared her obsession with toys from Chinese company Pop Mart International Group Ltd.&nbsp;</p>


China's hottest stock Pop Mart rockets 370% on craze for collectibles

<p>The House passed funding to keep the US government operating until mid-March just hours before a midnight shutdown deadline, capping off a tumultuous two days in which two earlier plans pursued by Speaker Mike Johnson collapsed.</p>


<p>Singapore’s main stock index is on track to have its best annual performance since 2017, but any celebrations over the Straits Times Index’s 15% gain so far this year are likely to be overshadowed by doubts about what lies ahead.&nbsp;</p>


Singapore stocks’ best year since 2017 masks downbeat outlook

<p>Qualcomm Inc prevailed at trial against Arm Holdings plc’s claim that it breached a licence for chip technology that the world’s largest maker of mobile-phone processors acquired when it bought a startup in 2021.&nbsp;</p>


Qualcomm defeats Arm’s claim over chip design licence breach

<p>The election of Donald Trump will usher in a wave of private-company purchases that had previously been slowed by red tape, investor Cathie Wood said in an interview, in which she also reiterated her ultra-bullish view on bitcoin.</p>


Cathie Wood predicts wave of startup M&A after Trump election, ultra-bullish on bitcoin

<p>Volkswagen AG (VW) reached an agreement with labour leaders to cut capacity at its namesake brand while avoiding factory closures, capping three months of tense negotiations and preventing further union walkouts.</p>


<p>Alphabet Inc’s Google called a US Justice Department (DOJ) plan to force it to sell its web browser “extreme” and at odds with the law, urging a Federal Court judge to take caution lest he stifle innovation and future investment.</p>


<p>The launch of a new direct route from Chennai to Penang, via IndiGo, commencing on Saturday, marks a significant milestone in enhancing connectivity, generating economic opportunities, and solidifying Penang’s position as a regional air travel hub.</p>


<p>Express bus companies must ensure a second driver is on board for long-distance trips, especially during the festive season, said Deputy Transport Minister Datuk Hasbi Habibollah.</p>


Express bus companies must have second driver for long trips, says deputy minister

<p>OpenAI is preparing to launch a new artificial intelligence (AI) model that it said is capable of more advanced human-like reasoning than its current offerings, ratcheting up the competition with rivals such as Alphabet Inc’s Google.</p>


<p>At first glance,&nbsp;Sony Group Corp’s US$1.2 billion (RM5.4&nbsp;billion) acquisition of the anime streaming site Crunchyroll in 2021 looks like a success. Subscribers to the US$8-a-month service have tripled to 15 million since then, and the number of new shows has doubled to more than 50 every quarter.</p>


<p>Samsung Electronics Co&nbsp;and Texas Instruments Inc&nbsp;completed final agreements to get billions of dollars of government support for new semiconductor plants in the US, cementing a major piece of the Biden administration’s Chips Act initiative.&nbsp;</p>


<p>US President-elect Donald Trump appears committed to imposing high tariffs on imports to the United States – or, at least, using the threat of tariffs to bend US trading partners to his will. Trump now says he will enact a 25% tariff on all imports from Canada and Mexico on his first day in offic...

<p>Thunderstorms, heavy rain and strong winds are expected in&nbsp;Perak, Kelantan, Terengganu, Pahang, Selangor and&nbsp;Johor until 4pm on Saturday.</p>


<p>Nippon&nbsp;Steel alleges the White House had "impermissible undue influence" over a national security review of its US$14.9 billion (RM67.2&nbsp;billion) bid for US&nbsp;Steel and threatened legal action if the deal is blocked.</p>
