<div class=newsTextDataWrapInner>SINGAPORE (Oct 24): Sembcorp Industries’ wholly-owned subsidiary, Sembcorp Utilities, has signed a joint development study with Indonesian-state-owned utility company PT PLN (Persero) at the Singapore International Energy Week 2023.&nbsp;</div>

<div class=newsTextDataWrapInner>Witnessed by Rachmat Kaimuddin, the Indonesian deputy coordinating minister for infrastructure and transportation coordination and Ngiam Shih Chun, the CEO of Singapore’s Energy Market Authority (EMA), the agreement will explore the feasibility of green hydrogen production in Indonesia for export to Singapore.</div>

<div class=newsTextDataWrapInner>According to the joint release, the facility could potentially produce up to 100,000 tonnes of green hydrogen per year in Indonesia using locally sourced renewable energy. The final product will be exported via subsea pipeline to Singapore...<a href="https://www.theedgesingapore.com/news/sustainability/sembcorp-and-indonesias-persero-sign-joint-development-study-agreement-green" target="_blank">(click on link for full story on theedgesingapore.com)&nbsp;</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

Sembcorp Industries’ wholly-owned subsidiary, Sembcorp Utilities, has signed a joint development study with Indonesian-state-owned utility company PT PLN (Persero) at the Singapore International Energy Week 2023.

Sembcorp and Indonesia’s Persero sign joint development study agreement on green hydrogen production and export

Malaysia is aiming to align its real economy with ongoing developments in the capital market as the nation reinvents its economic framework, said Finance Minister II Datuk Seri Amir Hamzah Azizan.

Malaysia to align real economy & capital market to drive inclusive growth — Amir Hamzah

Wall Street's main indices dropped on Wednesday, as continued escalation of Russia-Ukraine tensions worried investors, while megacap Nvidia lost ground ahead of quarterly results.

Stocks dipped after a report Ukraine fired long-range British Storm Shadow missiles into Russian territory.

Wall St falls as Russia-Ukraine tensions raise concerns ahead of Nvidia earnings

Offshore marine services provider Perdana Petroleum Bhd (KL:PERDANA) reported a more than threefold jump in its third quarter net profit, as it enjoyed better charter rates and higher vessel utilisation, driven by a shortage of offshore support vessels for offshore production and operation activities during the July-September quarter.

Perdana Petroleum reports threefold jump in 3Q profit on higher charter rates, increased vessel use

Sime Darby Property Bhd (KL:SIMEPROP) said it has already hit 91% of its full-year sales target of RM3.5 billion for 2024 by September. Its unbilled sales stood at RM3.7 billion.

Sime Darby Property hits 91% of 2024 annual sales target in nine months

Hap Seng Plantations Holdings Bhd (KL:HSPLANT) logged its highest quarterly net profit in nearly three years boosted by strong palm oil prices and lower operating expenses but flagged rising costs ahead.

Hap Seng Plantations logs highest quarterly profits in nearly three years on strong prices, lower expenses

Kawan Food Bhd’s (KL:KAWAN) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) fell 87.5% to RM960,000 from RM7.69 million in the same quarter last year (3QFY2023), dragged by unrealised foreign exchange (forex) losses due to the weakening of the US dollar against the ringgit, and a higher tax charge.

Kawan Food’s 3Q profit drops over 80%, dragged by forex losses and higher tax expense

The United States on Wednesday vetoed a UN Security Council resolution for a ceasefire in Gaza, drawing criticism of the Biden administration for once again blocking international action aimed at halting Israel's war with Hamas.

US vetoes UN Security Council resolution on Gaza ceasefire

Here is a brief recap of some corporate announcements that made the news on Wednesday.

Petronas Chem, Sime Darby Property, SD Guthrie, Perdana Petroleum, Sports Toto, Hap Seng Plant, RCE Capital, MyEG Services, Pos, UOA Devt, Amway, Formosa, Hextar Ind, Thong Guan, Kawan Food, RHB Bank, IFCA, Sapura Energy, Reservoir Link, Velesto, Zelan

An AeroDarat Services (ADS) staff member, who allegedly mistreated a passenger issued with a Not to Land (NTL) notice at Kuala Lumpur International Airport Terminal 1 (KLIA1), has been given a show-cause letter and suspended from duty, said Transport Minister Anthony Loke.

He said that the decision was made to allow ADS, the ground handling service provider, to conduct a thorough investigation into the incident.

KLIA 1 altercation: AeroDarat worker suspended from duty

Ideas, initiatives and innovation form the basis of any effort to actualise goals and targets. Ideally, sustainability is embedded into the business case of every investment decision made by the company.

10 steps to frame your business case

The Kuala Lumpur High Court has sided with Tokio Marine Life Insurance Malaysia Bhd in its dispute with RHB Bank Bhd (KL:RHBBANK) over their bancassurance business, but also ordered it to respond to the best offer that RHB Bank receives within 14 days after receiving it from the bank.

Court orders Tokio Marine to respond to RHB's best offer within 14 days

There is a need to overhaul the entire implementation process of Phase 2 of the National Digital Network (Jendela) initiative to ensure effectiveness of the programme, according to Communications Minister Fahmi Fadzil.

Fahmi wants ‘overhaul’ of Jendela Phase 2, lambasts telcos over non-operational towers

The United States could impose nearly 40% tariffs on imports from China early next year, a Reuters poll of economists showed, potentially slicing growth in the world's second-biggest economy by up to one percentage point.

Poll: Trump to unleash nearly 40% tariffs on China in early 2025, hitting growth 

BMW Group Malaysia is currently engaging with the government and local partners on its plan to locally assemble its electric vehicle (EV) units, aligning with the tax exemption for EV owners until the end of 2025.

BMW Group Malaysia to discuss with govt entities and local partners on EV assembly

Bursa Malaysia has filed an application to the High Court seeking clarifications on the legal implications of the court's appointment of an interim judicial manager for Sarawak Cable Bhd (KL:SCABLE), whose shares it suspended from trading on Tuesday but has now allowed to resume on Thursday.

In a bourse filing on Monday, Sarawak Cable announced it had received a letter from Cheang and Ariff, the solicitors acting on behalf of Bursa, on the bourse operator's application.

Bursa lifts suspension of Sarawak Cable shares as it seeks clarification from court regarding interim judicial manager's appointment

KUALA LUMPUR (Nov 20): SRC International Sdn Bhd has settled a suit against Parti Bumiputera Perkasa Malaysia president Datuk Ibrahim Ali, while the company and Umno continue to negotiate towards a settlement.

SRC settles suit with Ibrahim Ali, inches towards settlement with Umno

Hap Seng Plantations Holdings Bhd (KL:HSPLANT) logged its highest quarterly net profit in nearly three years boosted by strong palm oil prices and lower operating expenses but flagged rising costs ahead.

Speculative fever in Chinese stocks is running red hot and catching the attention of some global funds, who figure local money is worth following into market segments sheltered from tariffs and likely to ride an eventual economic recovery.

China's cashed-up crowd is back in the stock market

IFCA MSC Bhd (KL:IFCAMSC) said it is targeting RM440 million in new sales over the next three years mainly through new customers arising from its property management system solutions, optimising pricing and growing its distributors programme.

IFCA MSC targets RM440m in new sales for next three years

KUALA LUMPUR (Nov 20): The Ministry of Transport may impose a fee on those who require a physical copy of their driving licence some time next year.

Transport Ministry may impose fee on physical driving licences next year

Lawyer Tan Sri Muhammad Shafee Abdullah on Tuesday claimed the media had failed to do its job during its reporting of former prime minister Datuk Seri Najib Razak's SRC International Sdn Bhd trial — for which Najib was found guilty of abuse of power, criminal breach of trust, and money laundering involving RM42 million of SRC's money — and alleged that the press had left out certain facts of the case.

Shafee claims media failed to do its duty in Najib's SRC trial

MyEG Services Bhd (KL:MYEG) posted its highest-ever quarterly net profit of RM195.05 million in the third quarter ended Sept 30, 2024 (3QFY2024), a 62.55% increase from RM120 million in the same quarter last year.

MyEG posts highest-ever quarterly net profit of RM195m in 3Q

KUALA LUMPUR (Nov 20): Bagan Member of Parliament Lim Guan Eng has called for an explanation from Education Minister Fadhlina Sidek regarding the hosting of officials from the Taliban-led Afghanistan government.

Lim said that the ministry's decision to host the Taliban has raised many c...

Guan Eng demands explanation from education minister for hosting Taliban delegates

Pos Malaysia Bhd (KL:POS) continued its quarterly streak in the red, posting a wider net loss for the third quarter on lower postal and freight volume, and higher other and tax expenses.

Pos Malaysia's 3QFY2024 net loss widens on lower postal and freight volume

With Nvidia Corp due to report an unusually complex quarter as the world’s most valuable company, traders are preparing for a potentially mammoth stock swing.

The options-implied move for Nvidia shares the day after earnings is about 8% in either direction, according to data compiled by Bloomberg.

Nvidia traders brace for potential US$300 bil earnings move

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

SD Guthrie Bhd (KL:SDG), formerly known as Sime Darby Plantation Bhd, reported a 36.75% drop in net profit for the third quarter on Wednesday due to the absence of a gain on land disposal, despite higher crude palm oil (CPO) prices.

Net profit for the three months ended Sept 30, 2024 (3QFY2024) was RM766 million or 11.1 sen per share, compared with RM1.21 billion or 17.5 sen per share a year earlier, the world's largest palm oil producer by acreage said in an exchange filing.

SD Guthrie's 3Q net profit down 37% on absence of disposal gain

Sapura Energy Bhd (KL:SAPNRG) has secured a contract to provide pan-Malaysia services from Petronas Carigali Sdn Bhd.

Sapura Energy gets pan-Malaysia services contract

Sports Toto Bhd’s (KL:SPTOTO) net profit for the first quarter ended Sept 30, 2024 (1QFY2025) fell 31.3% to RM41.33 million, from RM60.17 million a year ago, dragged by lower lottery sales as well as lower sales performance and forex loss impact arising from its UK luxury car unit, HR Owen plc.

Sports Toto’s 1Q net profit falls 31%, declares two sen dividend

Malaysia regained its position as the second-largest supplier of crude oil to China last month, data showed on Wednesday, with supplies rising 28% on year as independent refiners sought cheaper sanctioned oil amid Middle East supply concerns.