<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Sept 29): LYC Healthcare Bhd wants to lease part of a medical and wellness asset that it plans to develop on a piece of land owned by LYC Wellness Sdn Bhd — the personal vehicle of its major shareholder — in Bentong, Pahang.</p></div>

<div class=newsTextDataWrapInner><p>The asset is going to be part of a mixed development that LYC Healthcare is planning to develop on the land, which will have apartments and commercial properties.</p></div>

<div class=newsTextDataWrapInner><p>LYC Wellness is 99% owned by LYC Healthcare's major shareholder Lim Yin Chow, who has a 16.45% stake in LYC Healthcare. His daughter, Lim Yan Tong, is part of the group's senior management as the chief operating officer of its confinement centres.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>LYC Healthcare inked a Memorandum of Understanding with LYC Wellness on Friday to negotiate and finalise the definitive agreement for the asset leasing upon completion of the development. The parties plan to execute the definitive agreement in three years.</p></div>

<div class=newsTextDataWrapInner><p>LYC Healthcare shares closed unchanged at 19 sen on Friday, with a market capitalisation of RM123.5 million.</p></div>


LYC Healthcare Bhd wants to lease part of a medical and wellness asset that it plans to develop on a piece of land owned by LYC Wellness Sdn Bhd — the personal vehicle of its major shareholder — in Bentong, Pahang.

LYC Healthcare plans to develop, lease medical wellness asset on major shareholder's land in Pahang

The legal counsel for Segambut Member of Parliament Hannah Yeoh has filed an appeal in the Court of Appeal on Thursday challenging the High Court's decision to dismiss her defamation suit against former inspector general of police Tan Sri Musa Hassan.

Hannah Yeoh appeals dismissal of defamation suit against ex-IGP

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

TNB, Samaiden, Gadang, Aizo, MyMBN, YTL Power, Kawan Renergy, Taghill, BHIC, Teck Guan, CCK, Lebtech, Southern Cable

Wall Street's main indexes drifted lower in light trading volumes on Thursday, as rising yields pressured some shares, while investors looked for a year-end boost from the so-called Santa Claus rally.

Wall Street slips as rising yields pressure some shares 

Azerbaijan Airlines’ Embraer SA 190 aircraft was damaged by Russian air defence systems near Grozny before it crashed in Kazakhstan during an attempted emergency landing, according to Azerbaijan government-backed Caliber news website.

Azeri plane hit by Russian air defence before crash — report

YTL Power International Bhd (KL:YTLPOWR) said on Thursday that the Employees Provident Fund (EPF) has once again ceased to be a substantial shareholder in the multi-utility owner and operator after offloading 14.93 million shares.

EPF ceases to be substantial shareholder in YTL Power

Keyfield International Bhd (KL:KEYFIELD) has issued its maiden RM200 million Islamic bonds (sukuk) under its sukuk wakalah programme of RM1 billion.

Keyfield International issues maiden RM200m sukuk

The Taiping High Court has awarded RM1.8 million in damages to a former security guard who sustained a brain injury due to medical negligence during treatment following a motorcycle accident in 2016.

Court awards RM1.8 mil to ex-security guard over medical negligence

EVENING 5: Base electricity tariff for 2025-2027 to be adjusted upward, says TNB

Finnish authorities said they had boarded and taken control on Thursday of an oil tanker travelling from Russia, on suspicion it had caused the outage on Wednesday of an undersea power cable and three internet lines connecting Finland and Estonia.

Finland boards oil tanker after internet and power cable outages

Recurring applications for US unemployment benefits rose to the highest in more than three years, adding to signs that it is taking longer for out-of-work people to find a job.

US continuing claims rise to highest in more than three years

<p>Peninsular Malaysia's base electricity tariff has been set at 45.62 sen per kilowatt hour (kWh) in the three-year regulatory period 2025-2027 (RP4), said Tenaga Nasional Bhd (TNB) (KL:TENAGA).&nbsp;</p>


TNB announces higher base electricity tariff for 2025-2027, raises capex to ensure reliable supply

<p>Petronas Chemicals Group Bhd (KL:PCHEM) could be close to its turning point, and investors should take position in its stock ahead of a rebound in the industry, said Kenanga Investment Bank.</p>


Kenanga says Petronas Chemicals close to turning point, investors should take position ahead of rebound

<p>THE government has given its blessing to Malaysian Resources Corp Bhd (KL:MRCB) for the redevelopment of Kuala Lumpur Sentral (KL Sentral) as it was the master developer of the transport hub connecting the Keretapi Tanah Melayu Bhd (KTMB) train service, Light Rail Transit, KLIA Transit and Rapid ...

Cover Story: Why MRCB was the choice for KL Sentral redevelopment

<p>Shares of SNS Network Technology Bhd (KL:SNS) rose 17.5% in active trade on Thursday amid broader gains in the sector following the Christmas Eve rally of US technology stocks.</p>


SNS Network rises 17% in highly active trade

<p>Tenaga Nasional Bhd (KL:TENAGA) said on Thursday that its unit has been shortlisted by the Energy Commission (EC) to develop a 500-megawatt (MWac) large-scale solar photovoltaic (PV) plant in Kuala Muda, Kedah.</p>


TNB among LSS5 winners, bags 500MW solar farm project in Kedah

<p>Southern Cable Group Bhd (KL:SCGBHD) has bagged a contract worth RM172.57 million to supply cables and conductors.</p>


Southern Cable gets RM173m supply contract

<p>Malaysia’s automotive sector will have to contend with weaker sales of non-national cars&nbsp;amid intensifying competition, while the industry grapples with easing backlog orders, RHB Investment Bank flagged.</p>


Malaysia's auto sector to see intensifying competition among non-national brands, says RHB IB

<p>SP Manufacturing, an electronics manufacturing services company founded and headquartered in Singapore, has announced its expansion into Senai, Johor.&nbsp;</p>


S'pore-based SP Manufacturing expands into Johor with new facility, acquisition of Ideal Jacobs Corporation

<p>Boustead Heavy Industries Corp Bhd (KL:BHIC) has appointed former Royal Malaysian Air Force (RMAF) chief Tan Sri Roslan Saad as its independent non-executive chairman.</p>


Boustead Heavy Industries names ex-air force chief as chairman

<p>Bird's nest processor MyMBN Bhd (KL:MBN) said the government has imposed a temporary suspension on the export of bird's nest products to China following the discovery of the Newcastle disease in Malaysia.</p>


MyMBN says bird's nest exports to China suspended due to Newcastle disease

<p>Elon Musk’s deputy Steve Davis has spent more than 20 years helping the billionaire cut costs at businesses like SpaceX, the Boring Company and Twitter — making the engineer by training a natural choice for his new role at Musk’s Department of Government Efficiency, or DOGE for short.</p>


Elon Musk’s go-to cost-cutter is working for DOGE 

<p>Alibaba Group Holding Ltd agreed to merge its South Korean operations with E-Mart Inc’s e-commerce platform to better compete in the country’s fast-paced online retail sector.</p>


Alibaba, E-Mart to create US$4 bil e-commerce JV in Korea

<p>Jinjiang Group, a contractor for Chinese electric vehicle (EV) maker BYD, said on Thursday Brazilian authorities' portrayal of their employees as "enslaved" was inconsistent with the facts and that there were translation misunderstandings.</p>


BYD contractor denies its construction site employees 'enslaved'

<p>Selangor remained the top destination for investments so far this year, as the state drew in RM66.8 billion in approved investments.</p>


Selangor top destination for investments, draws in RM66.8b in January to September

<p>CCK Consolidated Holdings Bhd (KL:CCK), a retail chain store and supermarket operator in Sabah and Sarawak, has declared its first-ever special dividend of five sen per share for the financial year ending Dec 31, 2024 (FY2024), payable Jan 22, 2025.</p>


CCK Consolidated declares first-ever special dividend of five sen

<p>Telegram and Tencent’s WeChat have begun the process of obtaining the requisite licence to operate their platforms in Malaysia next year, according to regulator Malaysian Communications and Multimedia Commission (MCMC).</p>


Telegram, WeChat begin licensing process in Malaysia, as MCMC urges others to follow suit

<p>The World Bank raised on Thursday its forecast for China's economic growth in 2024 and 2025, but warned that subdued household and business confidence, along with headwinds in the property sector, would keep weighing it down next year.</p>


World Bank raises China's GDP forecast for 2024, 2025

<p>Malaysia’s total trade in the livestock industry grew 23.2%, or RM254.7 million, to RM1.4 billion in 2023, according to the Department of Statistics Malaysia (DOSM).</p>


M'sian livestock industry's total trade up 23.2% to RM1.4b in 2023 — official data

<p>Here is a brief recap of the business news and corporate announcements that made the headlines on Thursday.</p>


<p>YTL Power International Bhd (KL:YTLPOWR) said on Thursday that the Employees Provident Fund (EPF) has once again ceased to be a substantial shareholder in the multi-utility owner and operator after offloading 14.93 million shares.&nbsp;</p>
