<div class=newsTextDataWrapInner>SINGAPORE (Sept 29): Su Zhu, a co-founder of failed hedge fund Three Arrows Capital (3AC), was arrested on Friday afternoon at Changi Airport, while trying to leave the country.</div>

<div class=newsTextDataWrapInner>According to Teneo, the joint liquidator&nbsp;of 3AC, Zhu has also been sentenced to a jail term of four months.</div>

<div class=newsTextDataWrapInner>This follows a committal order granted by Singapore courts against Zhu on Sept 25, for deliberately refusing to comply with a court order to cooperate with the liquidator's investigations, and to also account for his activities while running the fund<a href="https://www.theedgesingapore.com/news/singapore/three-arrows-capitals-zhu-arrested-while-trying-leave-changi-airport" target="_blank">...(click here for the full story on theedgesingapore.com).</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

Su Zhu, a co-founder of failed hedge fund Three Arrows Capital (3AC), was arrested on Friday afternoon at Changi Airport, while trying to leave the country.

Three Arrows Capital's Zhu arrested while trying to leave via Changi Airport

Chinese President Xi Jinping urged caution in the face of what he said could be a rough patch ahead for the country, in his first public comments since the government announced an unprecedented stimulus package.

Xi warns of obstacles ahead in first speech after stimulus plans

Tenaga Nasional Bhd (TNB) (KL:TENAGA) has named former MMC Corp Bhd group chief financial officer (CFO) Badrulhisyam Fauzi as its new CFO with effect from Jan 1, 2025.

He will replace Nazmi Othman, 60, whose employment contract will expire on Dec 31, 2024, according to TNB's bourse filing on Monday.

TNB appoints new CFO from MMC Corp

World shares edged off record highs on Monday, as strife in the Middle East fuelled economic uncertainty, just as Chinese shares posted their biggest one-day gain in 16 years, thanks to Beijing's latest raft of stimulus policies.

Chinese stocks surge on stimulus optimism, world's off record highs

Rightmove shares dropped 8% on Monday, after media mogul Rupert Murdoch's REA Group ended its US$8.29 billion (RM34.19 billion) takeover pursuit following a fourth bid rejection from the British real estate portal.

Murdoch's REA ends month-long takeover pursuit of UK property portal Rightmove

German inflation fell to its lowest level since February 2021 this month, preliminary data showed on Monday, helping European Central Bank (ECB) doves build their case for another interest rate cut next month.

German inflation eases, spurring hopes for another ECB cut

Global rice prices fell on Monday after India, the world's No 1 exporter of the grain, gave the go-ahead for exports to resume, boosting global supply and helping poor Asian and African buyers secure more affordable supplies, exporters said.

Global rice prices drop after India allows exports of white rice again

Roche said on Monday that three early-stage obesity and diabetes drug candidates from its acquisition of Carmot Therapeutics have the combined potential of more than three billion Swiss francs (US$3.60 billion or RM14.66 billion) in annual sales.

Roche targets more than US$3b in annual obesity drug sales

The Inland Revenue Board (IRB) has conducted over 60 audits on GISB Holdings Sdn Bhd (GISBH), its associated companies and related individuals for previous assessment years.

IRB: Over 60 audits conducted on GISBH, related parties

India’s current account deficit widened marginally last quarter as the nation’s trade gap increased due to higher imports and weak exports.

The shortfall in the broadest measure of trade in goods and services was US$9.7 billion (RM40.15 billion), or 1.1% of gross domestic product (GDP) in the quarter, the Reserve Bank of India (RBI) said in a statement on Monday.

India’s current account deficit widens on higher trade gap

AME Elite Consortium Bhd’s (KL:AME) wholly owned unit AME Capital Sdn Bhd has issued a total of RM1.8 billion in sukuk wakalah.

In a filing with Bursa Malaysia on Monday, AME Elite said the issuance include a RM1.5 billion Islamic medium-term notes (IMTN) programme and RM300 million separate Islamic commercial papers (ICP) programme, both in nominal value based on the shariah principle of Wakalah Bi Al-Istithmar.

AME Elite unit issues RM1.8b sukuk wakalah

Singapore’s High Court approved former oil tycoon Lim Oon Kuin’s agreements to pay about US$3.59 billion (RM14.8 billion) to the liquidators of his company and creditor HSBC Holdings Plc, ending the multi-year civil cases against him and his family.

Former Singapore oil mogul to pay liquidators, HSBC US$3.6b

The National Audit Department (NAD) will be auditing 2,000 government-linked companies (GLCs) beginning next year, in&nbsp;an effort to create a new era of enhanced governance in Malaysia, said Auditor General Datuk Wan Suraya Wan Mohd Radzi.

Govt to audit 2,000 GLCs next year, with 'no entity left behind'

Foreign investors ended their six-week net buying streak with a net outflow of RM527 million last week, according to a MIDF Research note on Monday.

Foreign investors turn net sellers amid declining trading volumes

The Malaysia Competition Commission (MyCC) said on Monday investigation found 81 enterprises allegedly involved in a price-fixing agreement for the provision of Umrah travel services.

MyCC probe finds 81 enterprises fixing prices of Umrah travel services

Analysts foresee a substantial rise in deposits at Affin Bank Bhd (KL:Affin) after the Sarawak government raised total ownership in the bank to 31%, becoming its largest shareholder.

Analysts expects CASA surge for Affin Bank after Sarawak govt ups stake

Dagang NeXchange Bhd (KL:DNEX) said on Monday that it is&nbsp;partnering with Singapore-based&nbsp;Google Asia Pacific Pte Ltd to provide sovereign cloud services in the country.

DNeX partners Google to provide cloud services in Malaysia

Toh Puan Na'imah Abdul Khalid has called on the police to investigate Prime Minister Datuk Seri Anwar Ibrahim for alleged abuse of power, conspiracy and criminal conduct.

Daim’s wife wants police to investigate Anwar

Animal spirits are back in&nbsp;China's stock market as investors rush into equities, galvanised by Beijing's policy bonanza and driven by fear of missing out on what some see as a rally of historic intensity.

Chinese investors rush into stocks for fear of missing out on epic rally

Malaysia needs to rationalise subsidies for RON95 petrol next year or risk greater fiscal burden after the government decided to raise civil servants’ salaries, said the Australia &amp; New Zealand Banking Group.

Govt needs to rationalise RON95 subsidies next year or risk greater burden after pay hike for civil servants — ANZ

KUALA LUMPUR (Sept 30): Uzma Bhd’s (KL:UZMA) unexpected proposed dividend, its first in 10 years, signals a sustainable outlook for the oil and gas services firm, Phillip Capital said on Monday.

Uzma’s surprise proposal of first dividend in a decade signals sustainable outlook — Phillip Capital

FIVE banks are said to be exploring a potential acquisition of Islamic lender Kuwait Finance House (M) Bhd’s (KFH Malaysia) retail banking portfolio in Malaysia, sources say.

“A request for proposal was sent [by KFH Malaysia] to banks and we gather that five seem to be interested — two ...

Five banks said to be keen on Kuwait Finance House Malaysia’s retail portfolio 

(Sept 30): Malaysia's ringgit climbed on Monday against the dollar to hit its highest in more than three years as additional Chinese stimulus measures over the weekend propped up sentiment for regional currencies and extended a sharp rally in China stocks.

The ringgit rose as much as 0....

Ringgit gains most among Asian FX, Chinese stocks soar

The official reserve assets amounted to US$116.77 billion (RM481.6 billion), while other foreign currency assets amounted to US$88.9 million as at end-August 2024, said Bank Negara Malaysia (BNM).

BNM: Malaysia’s official reserve assets at US$116.7b as of end-August 2024 

The government will shift to a more meaningful measurement of poverty based on the concept of net disposable income (NDI) as the basis for identifying target groups for aid distribution, said Datuk Seri Anwar Ibrahim.

Anwar: Net disposable income to form basis of govt’s aid distribution moving forward

BYD has informed the Chinese regulator it is recalling nearly 97,000 electric vehicles (EVs) for a manufacturing fault involving a steering control unit that could lead to fire risks, the market regulator said on Sunday.

BYD recalling 97,000 top-selling EVs on steering component fault, regulator says

Astro Malaysia Holdings Bhd (KL:ASTRO) posted a net profit of RM54.71 million in the second quarter ended July 31, 2024 (2QFY2025), its best quarterly results since the quarter ended January 2023, on the back of lower expenses, and better finance costs on favourable foreign exchange impact.

Astro posts best quarter since January 2023 on lower expenses, better finance costs

KUALA LUMPUR (Sept 30): The Malaysian Aviation Commission (Mavcom) has received a total of 2,083 complaints, marking a 32% year-on-year (y-o-y) decease in the number of complaints filed for the first six-month period of this year (1H2024), according to its 16th issue of its&nbsp;bi-annual consumer report.&nbsp;&nbsp;

Mavcom sees 32% drop in complaints received for 1H2024, Firefly tops list

THE technology sector has gone on a wild swing in 2024, erasing almost all of its gains so far this year. At its height in mid-July, the Bursa Malaysia Technology Index was trading at 55 times price-earnings ratio, easing to 37 times PER at present, which is within its historical average of 38 ti...

Potential upside in local tech stocks despite short-term challenges

A schizophrenic 39-year-old construction worker has been sentenced by the High Court to a total of 61 years’ jail, after the court found Mahadi Mamat guilty of commissioning terrorist acts by threatening to attack the Sri Maha Mariamman temple in Seafield, Selangor, and threatening to attack four high profile individuals.

Ex-Daesh 'wolf pack' leader gets 61-year jail term for terrorism activities, threat to attack temple

Kawan Food Bhd (KL:KAWAN) said it is closing its manufacturing facility in China, due to the impact of US tariffs and limited room for expansion.