<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

Canada is examining whether it needs to raise tariffs on Chinese-made electric vehicles (EVs) after the White House announced major new levies on them, Trade Minister Mary Ng said.

Canada is looking at EV tariff policy after Biden’s move against China

Berjaya Asset Bhd (KL:BJASSET) on Saturday officially launched Times Square 2, a luxury serviced apartment development located next to Berjaya Times Square in Jalan Imbi, Kuala Lumpur.

Berjaya Asset officially launches Times Square 2

Singapore will resume flying its F-16 fleet after suspending training when one of the jets crashed earlier this month, the defence ministry on Saturday.

Singapore to resume flying F-16 jets after crash this month

If the past three years have taught us anything, it is that low inflation cannot be taken for granted.

Trump’s Plans for the Fed Would Revive 1970s-Style Inflation The New Global Economy

Two men were arrested on Friday for attempting to trespass into Istana Negara.

In a statement on Friday, Kuala Lumpur police chief Commissioner Datuk Rusdi Mohd Isa said a police officer had stopped a Perodua Kembara vehicle that had attempted to enter Gate 3 of Istana Negara with the passengers intending to meet the King.

Two men arrested for attempting to trespass into Istana Negara

The suspect killed in the attack at the Ulu Tiram police station, here on Friday, was believed to have acted alone, said Home Minister Datuk Seri Saifuddin Nasution Ismail.

Suspect in Ulu Tiram police station attack acted alone, says Saifuddin Nasution

Crypto lender Genesis Global received court approval on Friday to return about US$3 billion (RM14.06 billion) in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group, with no recovery from the bankruptcy.

Crypto lender Genesis to return US$3b to customers in bankruptcy wind-down

Seven individuals, including a Singaporean, were remanded for seven days from Saturday until May 24, to assist in the investigation into the attack on the Ulu Tiram police station, early on Friday morning.

Ulu Tiram police station attack: Singaporean among seven remanded

If an exciting race, a packed crowd with A-list bristle, and a surprise winner was the happening event Formula One needed in America, then the Miami Grand Prix delivered in spades. But that’s not all a scorching afternoon in the Florida sunshine achieved; it also added fuel to the “end of empire” feeling about Red Bull’s domination of the sport.

Business of Sports: Bull market correction is a gain for F1

Home Minister Datuk Seri Saifuddin Nasution Ismail has given his assurance that the Jemaah Islamiyah (JI) movement in the country is still under control.

Saifuddin Nasution: Jemaah Islamiyah movement in Malaysia still under control

<p>Genting Singapore has confirmed its interest in developing an integrated resort (IR) development in the United Arab Emirates (UAE), as per its executive chairman Tan Sri Lim Kok Thay’s comments to shareholder queries at the gaming group’s annual general meeting (AGM) last Friday.</p>


Genting Singapore keen on UAE casino resort development

<p>The slide in Kuala Lumpur International Airport (KLIA)’s position on the list of the World's Top 100 Airports over the last decade is just a symptom of bigger problems in the management and structure of the airport industry in Malaysia.</p>


A deal to bring the experts in

<p>A rebound that has taken the US stock market to record highs this week may have further to run, if history is any guide.</p>


Stock market's record-setting rebound may have further to go

<p>A US company has become the world’s most valuable solar manufacturer for the first time since 2018, as Chinese rivals suffer from a profit-slashing price war and an onslaught of trade barriers erected by Washington.</p>


US company becomes world’s most valuable solar firm after Chinese rivals slip

<p>The seven individuals who were arrested on Friday over an attack at the Ulu Tiram police station here will be brought to the Magistrate's Court here on Saturday to obtain a remand order.</p>


Ulu Tiram police station attack: Seven individuals to be taken to court for remand

<p>Berjaya Asset Bhd (KL:BJASSET) on Saturday officially launched Times Square 2, a luxury serviced apartment development located next to Berjaya Times Square in Jalan Imbi, Kuala Lumpur.</p>


<p>The suspect killed in the attack at the Ulu Tiram police station, here on Friday, was believed to have acted alone, said Home Minister Datuk Seri Saifuddin Nasution Ismail.</p>


<p>Seven individuals, including a Singaporean, were remanded for seven days from Saturday until May 24, to assist in the investigation into the attack on the Ulu Tiram police station, early on Friday morning.</p>


<p>World stock indexes were nearly flat while US Treasury yields rose on Friday as investors tried to assess the timing of potential interest rate cuts by the Federal Reserve (Fed) this year.</p>


Stocks near flat as timing of US rate cuts weighed; copper jumps

<p>Two men were arrested on Friday for attempting to trespass into Istana Negara.</p>

<p>In a statement on Friday, Kuala Lumpur police chief Commissioner Datuk Rusdi Mohd Isa said a police officer had stopped a Perodua Kembara vehicle that had attempted to enter Gate 3 of Istana Negara with the passengers intending to meet the King.</p>


<p>As the local stock market edged higher, investors will be closely monitoring the financial performance of listed firms to justify the ongoing rally with the <b>FBM KLCI</b> reaching a multi-year high of 1,619.45 points last Friday in intra-day trade. The better-than-expected Malaysian economic growth of 4.2% in 1Q2024, which was released last Friday, is expected to help sustain the positive market sentiment.</p>


The Week Ahead: Corporate earnings, trade data and US Fed minutes in focus

<p>Traders are keeping a close eye on flows into equities from the retail crowd as stocks hover near record highs and meme stocks popped and then fizzled this week.</p>


Goldman sees fear of underperforming as retail crowd returns

<p>The Dow Jones industrial average closed above the 40,000 mark for the first time on Friday, with other major indexes also scoring weekly gains, as data supported expectations for interest rate cuts by the Federal Reserve (Fed) this year.</p>


Dow ends above 40,000 milestone, indexes notch up weekly gains

<p>Home Minister Datuk Seri Saifuddin Nasution Ismail has given his assurance that the Jemaah Islamiyah (JI) movement in the country is still under control.</p>


<p>The US Justice Department and TikTok on Friday asked a US appeals court to set a fast-track schedule to consider the legal challenges to a new law requiring Chinese-based ByteDance to divest TikTok's US assets by Jan 19 or face a ban.</p>


US, TikTok seek fast-track schedule, ruling by Dec 6 on potential ban

<p>Citigroup Inc was accused in a lawsuit of racial discrimination for its policy of waiving ATM fees for customers of minority-owned banks.</p>


Citi hit with racial bias suit from a conservative law firm

<p>Crypto lender Genesis Global received court approval on Friday to return about US$3 billion (RM14.06 billion) in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group, with no recovery from the bankruptcy.</p>


<p>Mercedes-Benz Group AG employees in Alabama voted against joining the United Auto Workers, a major blow to the union’s recently reinvigorated efforts to grow its ranks.</p>


Mercedes workers in Alabama reject union in pivotal vote

<p>Spot silver surpassed US$30 an ounce to hit the highest level in more than a decade.</p>

<p>The precious metal closed 6.5% higher at US$31.49 an ounce Friday, the highest since February 2013. It has soared 32% this year, outpacing gold and making it one of the year’s best-performing major commodities.</p>


Spot silver tops US$30 an ounce to hit highest since 2013

<p>The US awarded contracts for the purchase of 3.3 million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) after a massive sale from the stockpile in 2022, the Department of Energy said on Friday.</p>
