<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 1): The Sessions Court awarded some RM700,000 to a businessman in a suit he filed against cryptocurrency platform Luno Malaysia Sdn Bhd (Luno) for not safeguarding cryptocurrencies kept in his Luno account.</p></div>

<div class=newsTextDataWrapInner><p>In the negligence suit filed by plaintiff Yew See Tak, Yew claimed that he had lost some RM600,000 in cryptocurrencies after his Luno account was hacked into, and held the platform responsible for failing to safeguard his holdings.</p></div>

<div class=newsTextDataWrapInner><p>In the&nbsp;first decision of its kind against a cryptocurrency platform in Malaysia, Petaling Jaya Sessions Court judge Sazlina Safie said that Yew had proven his claim against Luno based on the balance of probabilities.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The court held Luno to be negligent and awarded Yew RM597,920.05, together with an additional RM100,000.00 as exemplary damages.</p></div>

<div class=newsTextDataWrapInner><p>RM597,920.05 was the sum that was withdrawn by an unknown hacker from Yew’s Luno cryptocurrency account.</p></div>

<div class=newsTextDataWrapInner><p>The court also ordered costs and interests on the judgment sum to be paid by Luno to Yew.</p></div>

<div class=newsTextDataWrapInner><p>Luno is recognised by the Securities Commission.</p></div>

<div class=newsTextDataWrapInner><p>The platform was represented by Faisal Moideen, Maximilian Tai and Clarence Tang.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, Yew was represented by Ong Yu Jian Joshua Ho and Hanani Azamuddin.</p></div>


The Sessions Court awarded some RM700,000 to a businessman in a suit he filed against cryptocurrency platform Luno Malaysia Sdn Bhd (Luno) for not safeguarding cryptocurrencies kept in his Luno account.

Court awards RM700,000 to man who had money stolen from crypto platform Luno

KUALA LUMPUR (May 14): Businessman Tan Sri Halim Saad’s latest suit against former prime minister Tun Dr Mahathir Mohamad, Tan Sri Nor Mohamed Yakcop and the federal government, in which Halim claimed his constitutional rights under Articles 8(1) and 12(1)(2) of the Federal Constitution for the government’s purchase of 32.69% stake in Renong Bhd from United Engineers Malaysia Bhd (UEM), a unit of Renong, has been struck out.

High Court strikes out Halim Saad’s latest suit against Dr M, Nor Yakcop and govt

For many years, the Friday prayers, at least in Selangor, ended with the imam in his khutbah (sermon) advising the congregation to stay away from giving or accepting bribes.

MySay: Political will a must, but be brave enough to say ‘no’ to corruption too

KUALA LUMPUR (May 13): The US International Trade Commission (USITC) has determined that there is a reasonable indication that an industry in the US is threatened by the import of dioctyl terephthalate (DOTP) from Malaysia, Poland, Taiwan and Türkiye.

US investigating sale of plasticizers for PVC from Malaysia, other countries

Shares of Dialog Group Bhd (KL:DIALOG) hit a 15-month high on Tuesday after the company's third-quarter results came in slightly stronger than expected while analysts broadly told investors to accumulate the stock.

Dialog shares rally to 15-month high on strong 3Q results

KUALA LUMPUR (May 14): Shares of Carlsberg Brewery Malaysia Bhd (KL:CARLSBG) surged to a three-month high on Tuesday, as analysts continued to recommend “buy” for the stock, following the group’s first quarter results.

Carlsberg Malaysia climbs to three-month high as analysts see better prospects after 1Q results

(May 14): US consumer expectations for inflation and home prices rose in April while perceptions of the labor market weakened, underscoring an uneasy backdrop for household finances and the cost of living.

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Malaysia Airports Holdings Bhd (KL:AIRPORT), or MAHB, is ready to have Mohamed Rastam Shahrom at the helm at the airport operator permanently after seven months as acting group chief executive officer, say sources.

MAHB to name Mohamed Rastam as permanent CEO soon, sources say

(May 14): At least 10 issuers are marketing deals in the US auto asset-backed securities market, with many hoping to finalize terms early this week to avoid potential volatility ahead of the latest consumer price index data release on Wednesday.

Vehicle makers like Honda Motor Co., Stel...

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(May 13): Walmart is cutting hundreds of corporate jobs and asking most remote workers to move to offices, the Wall Street Journal reported on Monday, citing people familiar with the matter.

Meanwhile, workers at the U.S. retail giant's smaller offices in Dallas, Atlanta a...

Walmart to lay off hundreds of corporate staff and relocate others, WSJ reports

(May 14): INDEED plans to cut about 1,000 employees, or roughly 8 per cent of its workforce, the job-search website’s second culling in two years as it seeks to simplify its business in a cooling labour market.

Job site Indeed cuts 8% of staff in second layoff in two years

<p>YNH Property Bhd’s (KL: YNHPROP) proposed sale of a 5.098-acre freehold land in Desa Sri Hartamas to Sunway Bhd (KL:SUNWAY) for RM170 million has been extended for a fifth time, stretching the deadline by another year to May 12, 2025, as more conditions are being added to the deal following the discovery of a registered caveat lodged over the property.</p>


YNH extends deadline for RM170 mil land sale to Sunway by a year after caveat found

<p dir="ltr">Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:</p>


PTT Synergy, Sime Darby Property, Telekom Malaysia, Aurelius Technologies, AME Elite, Mulpha International, Uzma, Dialog, GuocoLand, Swift Haulage, PA Resources

<p>Shares of Farm Price Holdings Bhd (KL:FPHB) surged 100% in its trading debut on Tuesday after the fresh vegetable wholesaler and distributor’s initial public offering (IPO) on the ACE Market raised RM24.48 million.</p>


Farm Price makes impressive debut on ACE Market at 48 sen versus IPO price of 24 sen

<p>Estithmar Holding and Baladna are among Qatar's largest companies by market capitalisation that attended a roundtable meeting hosted by Malaysia’s Ministry of Investment, Trade and Industry (Miti).</p>


Qatar 'big guns' of industries attend roundtable meeting with PM 

<p>Malaysia Airports Holdings Bhd (KL:AIRPORT), or MAHB, is ready to have Mohamed Rastam Shahrom at the helm at the airport operator permanently after seven months as acting group chief executive officer, say sources.</p>


<p>A police patrol car escorting Melaka Chief Minister Datuk Seri Ab Rauf Yusof's convoy was among 10 vehicles damaged by trees which fell in various parts of the city during a heavy downpour on Monday.</p>


Melaka CM's escort car among 10 vehicles hit by falling trees in KL

<p>Shares of Dialog Group Bhd (KL:DIALOG) hit a 15-month high on Tuesday after the company's third-quarter results came in slightly stronger than expected while analysts broadly told investors to accumulate the stock.</p>


<p>The S&amp;P 500 closed very slightly lower on Monday as investors took a breather after three weekly gains while they awaited key inflation readings and earnings reports due this week while a survey showed consumers concerned about inflation.</p>


S&P 500 barely changes as investors hold tight ahead of inflation data

<p>Shares of PTT Synergy Group Bhd (KL:PTT) soared on Tuesday to their highest in nearly 24 years after the construction company announced two contracts worth a total of RM169.85 million.</p>


PTT Synergy shares soar to over two-decade high on contract news

<p>RHB Retail Research said Cloudpoint Technology Bhd (KL:CLOUDPT) is set to resume its uptrend after observing a breakout above the 68 sen level last Thursday — backed by surging volume.</p>


Cloudpoint set to resume its uptrend, says RHB Retail Research 

<p>The US ordered a Chinese crypto mining company to vacate and sell a property it bought near a Wyoming Air Force base that houses intercontinental ballistic missiles, calling the firm a national security threat.</p>


US kicks Chinese crypto miner off land near air force base

<p>Global stock indexes were little changed on Monday while the US dollar index eased as investors awaited this week's US inflation data that is expected to be key for the outlook for US interest rates.</p>


Stocks near flat, dollar dips as focus shifts to US inflation data

<p>Shares of AME Elite Consortium Bhd (KL:AME) rose to a new all-time high on Tuesday after the company announced a land sale for RM209.84 million to a Hong Kong-based data centre operator.</p>


AME Elite shares rise to new record-high on land sale news

<p>As President Joe Biden prepares a new wave of tariffs against China, a US soybean trade group is pushing for higher levies on Chinese used cooking oil that it says is undercutting American crops used for biofuels.</p>


Flood of Chinese used cooking oil spurs call to boost US tariffs

<p>KUALA LUMPUR (May 14): Shares of Carlsberg Brewery Malaysia Bhd (KL:CARLSBG) surged to a three-month high on Tuesday, as analysts continued to recommend “buy” for the stock, following the group’s first quarter results.&nbsp;</p>


<p>KUALA LUMPUR (May 13): The US International Trade Commission (USITC) has determined that there is a reasonable indication that an industry in the US is threatened by the import of dioctyl terephthalate (DOTP) from Malaysia, Poland, Taiwan and Türkiye.</p>


<p>RHB Retail Research said Tasco Bhd (KL:TASCO) is poised for an uptrend reversal after rebounding above the 21-day simple moving average line while recently testing the 88 sen immediate resistance on strong volume.</p>


Tasco poised for uptrend reversal, says RHB Retail Research 

<p>MIDF Research said it foresees Malaysia’s civil engineering segment, particularly under the public corporations, to continue growing strongly amid key infrastructure projects such as Penang Light Rail Transit, East Coast Rail Link and potential projects like high-speed rail and Mass Rapid Transit Line 3.</p>


MIDF foresees Malaysia’s public civil engineering segment to continue growing strongly

<p>Treasury Secretary Janet Yellen said she hopes China won’t mount major retaliation against any steps Washington takes to safeguard investments in critical new industries, while emphasising the US cannot allow these emerging sectors to be “wiped out” by Chinese competition.</p>


Yellen hopes China doesn’t mount ‘significant’ trade retaliation

<p>Prime Minister Datuk Seri Anwar Ibrahim’s discussion with two prominent Qatar government leaders on Monday was rooted primarily on the Palestine-Israel conflict and touched on the current development in Gaza.</p>
