<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 18): Dayang Enterprise Holdings Bhd’s pan Malaysia contract from PTTEP Sarawak Oil Ltd and PTTEP Sabah Oil Ltd to provide maintenance, construction and modification has been extended until Dec 31, 2024.</p></div>

<div class=newsTextDataWrapInner><p>The original contract duration was from 2018 to mid-July 2023, the integrated oil and gas service provider said in a bourse filing.</p></div>

<div class=newsTextDataWrapInner><p>The value of the contract is based on work orders issued by PTTEP throughout the contract duration.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Dayang shall ensure strict compliance with the safety and operational procedures in the execution of the contract requirements,” the group said.</p></div>

<div class=newsTextDataWrapInner><p>It added that the contract will have no effect on its issued capital, and is expected to contribute to its earnings over the duration of the contract.</p></div>

<div class=newsTextDataWrapInner><p>Dayang shares closed up four sen or 2.19% at RM1.87 on Monday, valuing the group at RM2.17 billion.</p></div>


Dayang Enterprise Holdings Bhd’s pan Malaysia contract from PTTEP Sarawak Oil Ltd and PTTEP Sabah Oil Ltd to provide maintenance, construction and modification has been extended until Dec 31, 2024.

Dayang Enterprise secures extension for maintenance job contract from PTTEP

Eco World Development Group Bhd’s (KL:ECOWLD) largest shareholder and deputy chairman Datuk Leong Kok Wah has been redesignated as a non-independent non-executive director, effective immediately.

Eco World Development deputy chairman Leong Kok Wah redesignated as non-executive director

The S&P 500 and the Nasdaq slipped on Thursday after ending the previous session on a positive note, while investors assessed some of the last economic datasets ahead of the Federal Reserve's meeting.

S&P, Nasdaq take breather as markets assess economic data

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday.

Gamuda, EcoWorld, Sapura Energy, Bermaz Auto, Hiap Teck, Uni Wall APS, GDB, Paramount, Homeritz, Dataprep, Kerjaya Prospek 

Warner Bros Discovery on Thursday decided to separate its declining cable TV business from the streaming and studio operations, laying the groundwork for a potential sale or spinoff of its TV business as cord-cutting picks up pace.

Warner Bros Discovery plans two-way split aiming for potential cable deal 

Tesla CEO Elon Musk's net worth crossed US$400 billion (RM1.7 trillion) on Thursday, the Forbes real-time billionaires list showed, boosted by a nearly 71% surge in the automaker's shares this year and the soaring valuation of his rocket company SpaceX.

Elon Musk's net worth tops US$400b, Forbes billionaires list shows

Minister in the Prime Minister's Department (Law and Institutional Reform) Datuk Seri Azalina Othman Said said on Thursday that the motion she tabled to debate the Royal Commission of Inquiry's (RCI) report on Pulau Batu Puteh, Middle Rocks and South Ledge in Dewan Rakyat is not intended to prosecute any individual involved.

Motion to debate Batu Puteh RCI sparks fierce debate, Azalina says it isn't to prosecute anyone

US wholesale inflation unexpectedly accelerated in November on a surge in egg prices, while other categories suggested a muted increase in the Federal Reserve’s preferred price gauge.

US producer prices jump on eggs but Fed categories come in soft

Datasonic Group Bhd (KL:DSONIC) has proposed to change its name to NEXG Bhd.

Datasonic proposes name change to NEXG

Hong Seng Consolidated Bhd (KL:HONGSENG) said it has been asked to stop conducting business using the “Hong Seng” name and trademark.  

The request was made in a notice issued by Hong Seng Group, under the stewardship of Hong Seng Consolidated’s former executive chairman Datuk Seri Teoh Hai Hin, according to the diversified group’s bourse filing on Thursday.

Hong Seng Consolidated receives notice from ex-chairman to cease use of Hong Seng name

China signalled more public borrowing and spending in 2025 with a shift of policy focus to consumption, stepping up stimulus to recharge growth ahead of looming US tariffs.

China vows bigger fiscal spending to boost consumption next year 

<p>A Temasek Holdings Pte Ltd firm’s stake sale agreement values U Mobile Sdn Bhd at about RM7.5 billion (US$1.7 billion), according to people familiar with the matter, after the Malaysian phone company won a major 5G contract.</p>


Temasek firm’s deal values U Mobile at US$1.7 bil — Bloomberg

<p>Discussions on&nbsp;gas distribution&nbsp;in Sarawak between Petroliam Nasional Bhd (Petronas) and Petroleum Sarawak Bhd (Petros) have been&nbsp;settled, and the government is currently fine-tuning the&nbsp;details, parameters&nbsp;and implications of the move.</p>


Gas distribution between Petronas and Petros settled, govt fine-tuning details — PM

<p>Food and beverage services cafe chain operator Oriental Kopi Holdings Bhd on Thursday signed an underwriting agreement with Alliance Islamic Bank Bhd for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.</p>


Oriental Kopi looking at IPO in 1Q, inks underwriting agreement with Alliance Islamic Bank

<p>The two princes who allegedly made "donations" to Datuk Seri Najib Razak's personal accounts&nbsp;were directly linked to the&nbsp;late King Abdullah of Saudi Arabia, the court heard on Thursday. &nbsp;</p>


Saudi princes who made transactions to Najib's accounts were directly linked to late Saudi monarch, court told

<p>KUALA LUMPUR (Dec 12): South Korean engineering firm Samsung E&amp;A said on Thursday that it has been awarded a contract to build a refinery in Malaysia to produce sustainable aviation fuel (SAF) and other biofuels.</p>


Samsung E&A to build biofuel refinery in Johor worth over RM6b

<p>Kumpulan Kitacon Bhd (KL:KITACON) said on Thursday it had secured two building works contracts worth a total of RM203.9 million.</p>

<p>One of the contracts involves the construction of 237 landed houses and ancillaries for RM143 million at the Gamuda Gardens project developed by Gamuda Bhd (KL:GAMUDA), Kitacon said in an exchange filing. The contract will start from Jan 2, 2025, and be completed within 18 months.</p>


Kumpulan Kitacon gets construction contracts worth RM204 mil

<p>Paramount Corp Bhd (KL:PARAMON) is acquiring a 18,317 sq m leasehold land together with a residential development comprising 93 units of low-rise luxury condominium in Taman U-Thant, Kuala Lumpur for RM145 million cash.</p>


Paramount buys land, 93 condominium units in KL for RM145 mil

<p>The Public Accounts Committee (PAC) has included investigations into Khazanah Nasional Bhd’s controversial deals in its schedule for next year.</p>


PAC to probe Khazanah's controversial deals early next year

<p>Astro Malaysia Holdings Bhd (KL:ASTRO) is still not out of the woods&nbsp;as weak revenue clouds its outlook, analysts said on Thursday while the pay-television operator’s stock hovered near record lows.</p>


Astro's outlook shrouded by weak revenue, tax case as shares hover near record lows

<p>Malaysia has the opportunity to leverage rare earth element (REE) mining management technology through negotiations with China, despite the country's strict policies on technology transfer.</p>


Malaysia eyes opportunities in rare earth mining technology through China deal

<p>Gamuda Bhd (KL:GAMUDA) reported that its net profit climbed 5.31% in the August-October quarter as revenue jumped on improved contributions from all segments. It also achieved a record high order book of RM30 billion.</p>


Gamuda pays five sen dividend as 1Q profit climbs 5%; order book hits record RM30b

<p>PUTRAJAYA (Dec 12): A three-member Court of Appeal bench has granted the Kedah state government and its Menteri Besar Datuk Sanusi Md Nor an extension of time until Monday (Dec 16) for them to amend their memorandum of appeal, to consolidate all six of their appeals over the Alor Setar High Court’s decision in June to lift the state’s ban on lottery outlets.</p>


Kedah govt, MB gets more time to challenge court's decision to lift state's ban on lottery outlets

<p>Datuk Seri Najib Razak on Thursday testified to his version of events when The Edge Media Group chairman Tan Sri Tong Kooi Ong had come to his house in 2015 to warn him about the misappropriation of 1Malaysia Development Berhad (1MDB) funds. The former prime minister said that when Tong came to visit him, he had already consented to a request by the then auditor general (AG) to investigate 1MDB. Najib also denied showing Tong the door.</p>


Najib denies showing The Edge's owner the door during his visit, claims he already agreed to 1MDB probe

<p>168 Park Selayang Sdn Bhd, a subsidiary of Infra Segi Sdn Bhd, on Thursday announced the soft opening of 168 Park Mall, the retail component of the formerly abandoned mixed-use development located in Selayang, Selangor.</p>


168 Park Mall in Selayang soft opens

<p>YTL Power International Bhd released its Malaysian large language model (LLM), Ilmu 0.1, which outperforms global counterparts in Bahasa Melayu. &nbsp;</p>

<p>Ilmu 0.1 was released in conjunction with the launch of the National AI Office by the Digital Ministry, according to the company’s statement on Thursday.&nbsp;</p>


YTL Power releases Malaysian large language model Ilmu 0.1 

<p>Malaysians under the age of 55 have withdrawn a total of RM11.6 billion from Account 3, also known as the Flexible Account,&nbsp;following the Employees Provident Fund (EPF) account restructuring in May.</p>


EPF members withdrawn RM11.6b from Account 3 as of Nov 27, says Amir Hamzah

<p>KUALA LUMPUR (Dec 12): Malaysia&nbsp;launched on Thursday a national artificial intelligence (AI) office aimed at shaping policies and addressing regulatory issues, as it looks to establish itself as a regional hub for AI development.</p>


Malaysia launches National AI Office for policy, regulation

<p>MUCH has been reported about the Sarawak government’s negotiations via Petroleum Sarawak Bhd (Petros) with Petroliam Nasional Bhd (Petronas) for the Bornean state’s rights to regulate the oil and gas (O&amp;G) developments within its boundaries. Next door, however, information on Sabah’s progress...

Cover Story: Sabah’s O&G aspirations quietly brewing 

<p>Kerjaya Prospek Property Bhd (KL:KPPROP) said it will redeem the outstanding 1.72 billion redeemable convertible preference shares (RCPS) issued in 2019 by the investment vehicle of its controlling shareholder Datuk Tee Eng Seng for RM292.07 million on Jan 9.</p>


Kerjaya Prospek to pay Tee Eng Seng’s family vehicle RM292m in preference share redemption

<p>KUALA LUMPUR (Dec 12): Analysts have maintained their outlook on Axiata Group Bhd (KL:AXIATA) following the recent merger between XL Axiata and Smartfren Telecom, suggesting that potential benefits may take time to materialise.</p>
