<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 2): MSM Malaysia Holdings Bhd has agreed to discontinue the legal proceedings against Gas Malaysia Energy and Services Sdn Bhd (GMES) over a disputed sum of RM10.32 million relating to gas supply to its wholly-owned unit MSM Sugar Refinery (Johor) Sdn Bhd (MSM Johor).</p></div>

<div class=newsTextDataWrapInner><p>The sugar refinery company told Bursa on Thursday that Notices of Discontinuance were filed to the Kuala Lumpur High Court on Nov 1 to signify the conclusion of the Writ Action with each party to bear its own costs and without liberty to file afresh.</p></div>

<div class=newsTextDataWrapInner><p>“There is no potential liability, financial and operational impact to the company and the MSM group of companies,” it said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In November last year, MSM Johor said it had filed a lawsuit against GMES.</p></div>

<div class=newsTextDataWrapInner><p>MSM Malaysia said MSM Johor was forced to stop accepting gas supply from Gas Malaysia's subsidiary, Gas Malaysia Energy and Services Sdn Bhd (GMES), following the shutdown of MSM Johor's refinery operations due to incidents of leakages in the boilers in 2020 and 2021.</p></div>

<div class=newsTextDataWrapInner><p>GMES had, in April 2022 demanded the RM10.32 million from MSM Johor via a take-or-pay (T-O-P) invoice for gas supply.</p></div>

<div class=newsTextDataWrapInner><p>Shares in MSM Malaysia finished one sen or 0.8% higher at RM1.26, giving it a market capitalization of RM885.75 million.</p></div>


MSM Malaysia Holdings Bhd has agreed to discontinue the legal proceedings against Gas Malaysia Energy and Services Sdn Bhd (GMES) over a disputed sum of RM10.32 million relating to gas supply to its wholly-owned unit MSM Sugar Refinery (Johor) Sdn Bhd (MSM Johor).

MSM Malaysia drops legal proceedings against Gas Malaysia Energy

Thailand’s Constitutional Court dismissed a complaint against former premier Thaksin Shinawatra and his-family backed ruling party, a major reprieve for his daughter’s less than three-month old government.

Thai court rejects case against Thaksin in reprieve for PM 

KUALA LUMPUR (Nov 22): This week’s Dewan Rakyat sitting saw nine ministries complete the winding-up of the Supply Bill 2025 debate at the committee stage.

Dewan Rakyat: Nine ministries completed winding-up debate on Supply Bill 2025 at committee stage this week

Oil prices extended gains on Friday, heading for a weekly uptick of more than 4%, as the Ukraine war intensified with Russian President Vladimir Putin warning of a global conflict.

Oil heads for weekly gains on anxiety over intensifying Ukraine war

SAO PAULO/RIO DE JANEIRO (Nov 21): Brazilian state-run oil firm Petrobras approved on Thursday a payout of 20 billion reais (US$3.4 billion, or RM15.34 billion) in extraordinary dividends to shareholders, and it lowered the minimum cash level required for its US$111 billion strategic plan.

Petrobras approves US$3.4b in extra dividends, US$111b strategic plan

KUALA LUMPUR (Nov 22): Master Builders Association Malaysia (MBAM) supports the Construction Industry Development Board (CIDB) Malaysia’s decision to retract its quality guidebook for homeowners, said MBAM president Oliver HC Wee.

MBAM supports CIDB’s decision to retract quality guidebook for homeowners

Stocks and bonds of India's Adani Group dropped for a second session on Friday after a US arrest warrant was issued for its billionaire founder Gautam Adani over an alleged US$265 million (RM1.2 billion) bribery scheme.

Adani Group stocks, bonds fall for a second day after founder's US indictment

Affin Bank Bhd (KL:AFFIN) said on Friday its net profit surged in the third quarter thanks to an increase in both interest and non-interest income, as well as impairment writeback and foreign exchange gains.

Affin Bank 3Q net profit surges on higher interest income; writeback, forex gain also provide boost

BENGALURU (Nov 21): Boeing said on Thursday that it has secured a US$2.38 billion (RM10.63 billion) contract from the US Air Force to build 15 additional KC-46A Pegasus aerial refuelling tankers under the Lot 11 procurement.

Boeing secures US$2.38b contract for 15 additional US Air Force KC-46A tankers

KUALA LUMPUR (Nov 22): Berjaya Hartanah Bhd, a wholly owned subsidiary of Berjaya Land Bhd (KL:BJLAND), officially launched on Friday, its latest condominium development named Oaka Residences at Bukit Jalil, Kuala Lumpur. The project has a gross development value (GDV) of RM373 million.

Berjaya Land launches RM373m Oaka Residences in Bukit Jalil

Northvolt, the Swedish maker of battery cells for electric vehicles, said on Thursday it has filed for Chapter 11 bankruptcy protection in the US, dealing a blow to Europe's hopes that its most developed battery player would reduce Western car makers' reliance on Chinese rivals.

Sweden's Northvolt files for bankruptcy, in blow to Europe's EV ambitions

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>AirAsia hopes to emulate Dubai’s success in connecting the world, but in a low-cost format from places like Bangkok and Kuala Lumpur as the discount carrier looks to move on from its tumultuous pandemic years.</p>


AirAsia founder plots low-cost Dubai-like hub in Bangkok, KL

<p>KUALA LUMPUR (Nov 22): Globetronics Technology Bhd (KL:GTRONIC) surged as top most-actively-traded stocks on Friday morning, after the company secured a RM145 million contract to provide integrated circuit (IC) product packaging, testing, and backend services to Taiwan-based ChipMOS Technologies Inc. &nbsp;</p>


Globetronics shares surge on RM145m contract win with Taiwan’s ChipMOS

<p>China’s richest man lashed out at two of the country’s biggest tech giants for fanning online vitriol targeting him earlier this year and instigating a price war that wiped out tens of billions of market value for his bottled-water empire.</p>


China’s richest man berates PDD, ByteDance for months of misery

<p>KUALA LUMPUR (Nov 22): Shares of DRB-Hicom Bhd (KL:DRBHCOM) fell on Friday to their lowest in more than four years, after the automotive-to-banking conglomerate reported weaker than expected quarterly results.</p>


DRB-Hicom shares fall to over four-year low, analysts divided over outlook after 3Q

<p>US President-elect Donald Trump said on Thursday he would nominate former Florida attorney general and loyalist Pam Bondi to be US attorney general, moving swiftly to replace his former nominee Matt Gaetz after the embattled former congressman withdrew from consideration.</p>


Trump picks Pam Bondi for US attorney general after Gaetz withdraws

<p>Now is an opportune time to accumulate Dayang Enterprise Holdings Bhd (KL:DAYANG) shares given its undemanding valuations, said CGS International.</p>


Good opportunity to accumulate Dayang shares — CGS

<p>TOKYO (Nov 22): Nissan&nbsp;Motor&nbsp;will cut or transfer about 1,000 jobs in Thailand, as it shrinks production in Southeast Asia, part of its recently announced global workforce reduction plan, two sources familiar with the matter told<em> Reuters</em> on Friday.</p>


Nissan to cut or transfer about 1,000 jobs in Thailand — Reuters

<p>Gold was headed for its largest weekly gain in nearly eight months on Friday and the euro hovered at a 13-month low as Russia lowered its threshold for using nuclear weapons and fired a hypersonic ballistic missile at Ukraine.</p>


Gold surges and euro sags as broader war risks rise 

<p>Nvidia Corp assured investors that its new product lineup will continue to fuel an artificial intelligence-driven growth run, while also signaling that the rush to get chips out the door is proving costlier than expected.&nbsp;</p>


Nvidia says new chip remains on track, helping soothe investors

<p>KUALA LUMPUR (Nov 22): TSH Resources Bhd (KL:TSH) reported a 12.19% increase in its net profit for the third quarter spanning July to September 2024 (3QFY2024), despite a drop in revenue, as it recorded reduced non-controlling interests, which resulted in the larger share of profit attributable to the owners of the company.</p>


TSH Resources reports 12% rise in 3Q net profit, pays 2.5 sen dividend

<p>CapitaLand Investment Ltd, one of Asia’s largest property investment managers, warned of potential losses as it seeks to extricate itself from China’s real estate crisis.</p>


CapitaLand warns of China losses as Singapore property investor cuts exposure

<p>Affin Bank Bhd (KL:AFFIN) said on Friday its net profit surged in the third quarter thanks to an increase in both interest and non-interest income, as well as impairment writeback and foreign exchange gains.</p>


<p>Australia’s flagship carrier Qantas Airways Ltd is the top-performing airline stock in Asia over the past year, and is seen as set to extend its climb with help from declining fuel prices.</p>


Qantas tops Asian airline stocks on cheap fuel, rival’s demise

<p>Stocks ended the day higher as traders contemplated a new US administration keen on deregulation. Bitcoin blew past US$98,000 (RM438,868) while the dollar gained and treasury yields rose.</p>


Trump trade boosts stocks, bitcoin run at US$100,000

<p>KUALA LUMPUR (Nov 22): Berjaya Hartanah Bhd, a wholly owned subsidiary of Berjaya Land Bhd (KL:BJLAND), officially launched on Friday, its latest condominium development named Oaka Residences at Bukit Jalil, Kuala Lumpur. The project has a gross development value (GDV) of RM373 million.&nbsp;</p>


<p>KUALA LUMPUR (Nov 22): Damansara REIT Managers Sdn Bhd, the manager of Al-`Aqar Healthcare REIT &nbsp;(KL:ALAQAR)&nbsp;and Al-Salam REIT&nbsp;(KL:ALSREIT), has appointed Zulhilmy Kamaruddin as its new chief executive officer (CEO) as of Thursday (Nov 21).</p>


Damansara REIT Managers appoints Zulhilmy Kamaruddin as its new CEO

<p>SEC Chair Gary Gensler, whose ambitious agenda drew fierce resistance from Wall Street and the crypto industry, plans to step down on Jan 20.</p>


Gary Gensler plans to step down from SEC in January

<p>NEW YORK (Nov 22): US&nbsp;stocks are extending their lead over&nbsp;global&nbsp;peers and some investors believe that dominance could grow if President-elect&nbsp;Donald Trump&nbsp;can implement his economic platform without becoming mired in a full-blown trade war, or ballooning the federal deficit.</p>


Trump's return could extend US stocks' dominance over global rivals

<p>Mercedes-Benz plans to cut costs by several billion euros per year in the coming years, the <em>Handelsblatt</em> newspaper reported on Thursday, citing a spokesperson for the German carmaker.</p>
