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MORNING CALL:4/12/23

The Commodity Futures Trading Commission (CFTC) unveiled a proposal on Monday to regulate digital asset transactions and markets.

CFTC proposes registering crypto exchanges offering leverage

Saudi-backed Yemeni government forces staged a lightning advance on Monday to retake the coast around the Bab el-Mandeb Strait up to the city of Mocha, the government said, pushing the Iran-backed Houthis out of most of the areas they seized last month.

Yemeni government forces drive Houthis from Bab el-Mandeb Strait

Germany and France are urging the European Union (EU) to adopt new powers that would enable the bloc to cut off access to its single market if China or other nations destabilise trade relations.

Germany and France push trade weapon to deny access to China 

Shipping bottlenecks, deep cuts in refinery output and inventory draws that could take years to replace will keep global oil prices high beyond this year, industry executives said at a conference in London on Monday.

Oil market turmoil could last for years, executives say at London conference

The US Supreme Court opened its new nine-month term on Monday by hearing a bid by oil companies ExxonMobil and Suncor Energy to thwart a lawsuit by officials in Boulder, Colorado, seeking monetary damages for harms caused by climate change.

US Supreme Court hears bid by oil companies to avoid climate lawsuit

NEWS: MoT explains why Zetrix AI, MyEG services were suspended

PUTRAJAYA (Oct 5): Zetrix AI Bhd (KL:ZETRIX) owes the Road Transport Department some RM314 million as it failed to remit collections from May to September this year.

Zetrix owes JPJ RM314m from May to September this year; firm stopped RM231m cheque meant to settle arrears — Loke

The benchmark S&P 500 rose and the Nasdaq reached all-time highs on Monday as most megacap and growth stocks advanced, though risk sentiment remained in check as Treasury yields held near multi-year highs.

S&P 500 up, Nasdaq at record high as megacap tech stocks rise

A brief recap of some business news and corporate announcements that made the headlines on Monday.

Zetrix AI, Pertama Digital, HeiTech Padu, Yinson, Kelington, Go Hub Capital, Citaglobal, West River, Jati Tinggi, TNB, IJM, Asteel

“Shame on you! My family in India are dying from drought because of you.”

Opinion: The cloud comes down to earth

Zetrix AI Bhd (KL:ZETRIX) fell to its lowest in 13 years after the Ministry of Transport revealed that the digital services company owed the government some RM314 million.

Zetrix AI extends decline to lowest in more than a decade

Construction and property conglomerate IJM Corporation Bhd (KL:IJM)&nbsp;has appointed non-executive chairman of KPMG Malaysia&nbsp;Datuk Johan Idris as its independent non-executive director and chairman, effective Monday.

Johan, who previously served as KPMG Malaysia's managing partner and country senior partner, succeeds long-serving chairman Tan Sri Krishnan Tan following his retirement.

IJM appoints Johan Idris as new chairman

Zetrix AI Bhd (KL:ZETRIX) said it has submitted a proposal to resolve outstanding remittances to the government &nbsp;after the Road Transport Department (JPJ) suspended its services as a collection agent on Monday.

Zetrix submits proposal to settle government dues

Palm oil inventories in Malaysia likely swelled to a record last month, buffering supplies of the world’s most-used vegetable oil as an intensifying El Niño threatens to disrupt production in the coming year.

Malaysian palm oil stockpiles balloon to record on output surge

The oil stockpiles that cushion the world from supply shocks have become “scarily thin”, putting markets at risk of worsening unless the Strait of Hormuz reopens, according to the head of Saudi Arabia’s state producer.

Global oil supply buffer running ‘scarily thin’, Aramco CEO says

The Malaysian Bar has failed to get the green light to challenge former attorney general (AG) and sitting Federal Court judge Tan Sri Ahmad Terrirudin Mohd Salleh's appointment to the Judicial Appointments Commission (JAC).

Bar fails in bid to challenge ex-AG Terrirudin's appointment to Judicial Appointments Commission

Jelutong member of parliament RSN Rayer wants the identities of those behind the companies involved in the eJamin bail collection system to be disclosed in the Dewan Rakyat&nbsp;

MP wants to know who is behind companies involved in eJamin   

Some employees of Radiant World say they have not received their September salaries, an apparent delay that offers a glimpse of disruptions inside the iron ore trader as its operations are transferred to the care of court-appointed managers.

Radiant World misses salary payments for employees in September

It was a scorching afternoon when Country Garden Pacificview Sdn Bhd (CGPV) executive director and chief of regional industrial business development Kevin Li and regional vice-president Syarul Izam Sarifudin arrived at The Edge’s office in Petaling Jaya, Selangor. The pair had flown in f...

Cover Story: Playing the long game at Forest City

A brief recap of some business news and corporate announcements that made the headlines on Monday.

The government could not recover RM38.44 million cash advance to contractors who have been dissolved and placed into liquidation, the auditor general flagged.

Govt could not recover RM38 mil cash advance from defunct contractors — AG's report

Yinson Holdings Bhd (KL:YINSON) said it has secured about US$600 million (RM2.5 billion) in additional firm contract backlog following an amendment to its contract for the FPSO John Agyekum Kufuor offshore of&nbsp;Ghana.

Yinson secures additional RM2.5 bil in Ghana FPSO contract

Qualcomm Inc has agreed to license patents underpinning Huawei Technologies Co’s novel LogicFolding chipmaking technique, a win for the Chinese company and its push to advance in overseas artificial intelligence (AI) markets.

Qualcomm licenses patents on Huawei’s LogicFolding chip tech — Bloomberg

Nvidia Corp’s price-to-earnings multiple and projected 70% earnings growth for next year demonstrate that artificial intelligence-driven technology stocks remain far from bubble territory, DBS Group chief investment officer Hou Wey Fook said.

Nvidia’s valuations show AI rally isn’t a bubble, DBS says

KUALA LUMPUR (Oct 5): S P Setia Bhd (KL:SPSETIA) and clean energy solutions provider Gentari Green Mobility Sdn Bhd have signed a memorandum of understanding (MOU) to explore a collaboration in clean energy and green mobility solutions, according to a press statement issued on Monday.

S P Setia, Gentari sign MOU to explore green mobility solutions across Setia developments

An autopsy on 16-year-old Irene Sofiya Mohd Khairool Faisal, who was believed to have been murdered at a school in Yong Peng, Johor, on Saturday, found that she died from blunt trauma to the head.

Autopsy confirms Yong Peng schoolgirl died from head injury — police 

Several ministries and a statutory body announced initiatives on retirement and the ageing population at The Edge Third Age Megatrend Symposium 2026.

Initiatives under way to address Malaysia's ageing population challenges

Lembaga Tabung Haji’s (TH) new&nbsp;and existing investments have shown positive results following the transformation and strengthening of governance processes, said Minister in the Prime Minister’s Department (Religious Affairs) Dr Zulkifli Hasan.

Tabung Haji's new, existing investments positive following transformation process, says minister

The financial position of households has remained generally resilient, supported by Malaysia's stable labour market conditions, according to Bank Negara Malaysia (BNM).

BNM: Household financial position remains resilient amid West Asia risks

The implications of the West Asia conflict, which has disrupted global commodity supplies and strategic trade routes, have remained manageable for Malaysia's financial stability, according to Bank Negara Malaysia (BNM).&nbsp;