<div class=newsTextDataWrapInner>SINGAPORE (Dec 20): Singapore Exchange (SGX)-listed SPAC (special purpose acquisition companies) firms Pegasus Asia and Novo Tellus Alpha Acquisition (NTAA) are not looking to merge with any target companies and are instead seeking to dissolve the blank-cheque companies, according to sources familiar with the matter.</div>

<div class=newsTextDataWrapInner>This is on the back of lower-than-expected numbers owing to unfavourable market conditions, The Edge Singapore understands. Pegasus’ announcement is expected to be made by Dec 22, while NTAA’s is set to be released next week. The deadline for<a href="https://www.theedgesingapore.com/news/spacs/two-remaining-sgx-listed-spac-firms-dissolve-ending-further-despac-hopes" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div>

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SINGAPORE (Dec 20): Singapore Exchange (SGX)-listed SPAC (special purpose acquisition companies) firms Pegasus Asia and Novo Tellus Alpha Acquisition (NTAA) are not looking to merge with any target companies and are instead seeking to dissolve the blank-cheque companies, according to sources familiar with the matter.

Two remaining SGX-listed SPAC firms to dissolve, ending further de-SPAC hopes

India — which relies on coal to meet about three-quarters of electricity demand — kept installations of new capacity near a five-year high to try to meet surging power usage.

India’s coal-power plant growth holds near five-year high

Tenaga Nasional Bhd (TNB) through its wholly-owned subsidiary TNB Renewables Sdn Bhd (TRe) has received a letter of notification as a shortlisted bidder to develop a 500 megawatts of alternating current (MWac) large scale solar photovoltaic plant in Kuala Muda, Kedah from the Energy Commission (EC).

TNB unit shortlisted for development of 500 MWac LSS power plant in Kedah 

The National Institute of Occupational Safety and Health (Niosh) recommends that regular maintenance be mandatory for all heavy vehicles with strict supervision by the Computerised Vehicle Inspection Centre (Puspakom) to ensure they are roadworthy.

Strict enforcement, heavy fines against heavy vehicles failing to comply with safety standards, says Niosh

CCK Consolidated Holdings Bhd (KL:CCK), a retail chain store and supermarket operator in Sabah and Sarawak, has declared its first-ever special dividend of five sen per share for the financial year ending Dec 31, 2024 (FY2024), payable Jan 22, 2025.

CCK Consolidated declares first-ever special dividend of five sen

The Malaysian Bar on Thursday urged the Terengganu state government and the federal government to reconsider public caning practices by reviewing and amending laws that permit such punishments to ensure they are proportionate, rehabilitative and respectful of human dignity.

Terengganu state govt, Putrajaya urged to review practice of public caning 

China’s finance and property companies saw their workforces shrink in recent years years for the first time, reflecting the damage caused by a housing market collapse and regulatory probes.

China’s finance, property firm workforces shrink for first time

A summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.

FBM KLCI rises 0.67% to 1,613.70 on Dec 26, 2024

Pan Merchant Bhd, a manufacturer of filters for solid liquid filtration and a provider of steel works and technical support services, is looking to raise capital from a planned initial public offering (IPO) on the ACE Market of Bursa Malaysia to expand its manufacturing plants, product development, business expansion and for working capital.

Pan Merchant files draft prospectus for ACE Market listing

Jinjiang Group, a contractor for Chinese electric vehicle (EV) maker BYD, said on Thursday Brazilian authorities' portrayal of their employees as "enslaved" was inconsistent with the facts and that there were translation misunderstandings.

BYD contractor denies its construction site employees 'enslaved'

Elon Musk’s deputy Steve Davis has spent more than 20 years helping the billionaire cut costs at businesses like SpaceX, the Boring Company and Twitter — making the engineer by training a natural choice for his new role at Musk’s Department of Government Efficiency, or DOGE for short.

Elon Musk’s go-to cost-cutter is working for DOGE 

Petronas Chemicals Group Bhd (KL:PCHEM) could be close to its turning point, and investors should take position in its stock ahead of a rebound in the industry, said Kenanga Investment Bank.

Kenanga says Petronas Chemicals close to turning point, investors should take position ahead of rebound

Shares of SNS Network Technology Bhd (KL:SNS) rose 17.5% in active trade on Thursday amid broader gains in the sector following the Christmas Eve rally of US technology stocks.

SNS Network rises 17% in highly active trade

Southern Cable Group Bhd (KL:SCGBHD) has bagged a contract worth RM172.57 million to supply cables and conductors.

Southern Cable gets RM173m supply contract

Yildiz Holding AS, the Turkish conglomerate behind Godiva chocolates and McVitie’s biscuits, will sell its marinas to focus on its core food and retail businesses.

Godiva’s Turkish owner to sell marinas to focus on core business

The Penang government is granting a 100% exemption from quit rent and parcel rent penalty arrears to all land and parcel owners in the state who make payments for the two taxes from Jan 2 to Feb 28, 2025.

Penang grants exemption from land, parcel tax penalty arrears from Jan 2 to Feb 28

Asia shares eased in holiday-thinned trade on Thursday, paring some of their gains from earlier in the week, while the dollar rose alongside US treasury yields.

Dollar stays resilient, Asian shares wobble

Honda Motor Co&nbsp;absorbing Nissan Motor Co could give the two struggling Japanese brands the scale they need to take on China’s BYD Co, sales figures released on Wednesday showed.

Honda-Nissan deal may be key in fight against China’s BYD

The Ministry of Energy Transition and Water Transformation (Petra) has announced that the Green Electricity Tariff (GET) programme will continue into 2025, maintaining current premium rates while introducing discounted long-term subscription packages to boost renewable energy adoption.

Energy ministry: Current green electricity tariff rates retained, cheaper long-term packages introduced

Azerbaijan Airlines suspended flights to two cities in southern Russia after a passenger plane heading in that direction was diverted across the Caspian Sea and crashed near the city of Aktau in Kazakhstan, killing dozens.

Azerbaijan Airlines pauses flights to south Russia after deadly crash

THE government has given its blessing to Malaysian Resources Corp Bhd (KL:MRCB) for the redevelopment of Kuala Lumpur Sentral (KL Sentral) as it was the master developer of the transport hub connecting the Keretapi Tanah Melayu Bhd (KTMB) train service, Light Rail Transit, KLIA Transit and Rapid ...

Cover Story: Why MRCB was the choice for KL Sentral redevelopment

Malaysia’s automotive sector will have to contend with weaker sales of non-national cars&nbsp;amid intensifying competition, while the industry grapples with easing backlog orders, RHB Investment Bank flagged.

Malaysia's auto sector to see intensifying competition among non-national brands, says RHB IB

SP Manufacturing, an electronics manufacturing services company founded and headquartered in Singapore, has announced its expansion into Senai, Johor.&nbsp;

S'pore-based SP Manufacturing expands into Johor with new facility, acquisition of Ideal Jacobs Corporation

The South Korean won hit the weakest level since March 2009 in holiday-thinned trading amid the US dollar's continued rally. South Korean stocks fell, while the benchmark bond yield rose.

South Korean won drops to lowest level since March 2009; stocks ease

Oil steadied after an advance on Tuesday, with China’s stimulus measures and the outlook for US stockpiles in focus.

Oil holds gains with China stimulus and US stockpiles in focus

Selangor remained the top destination for investments so far this year, as the state drew in RM66.8 billion in approved investments.

Selangor top destination for investments, draws in RM66.8b in January to September

Alibaba Group Holding Ltd agreed to merge its South Korean operations with E-Mart Inc’s e-commerce platform to better compete in the country’s fast-paced online retail sector.

Alibaba, E-Mart to create US$4 bil e-commerce JV in Korea

Bursa Malaysia Bhd on Thursday issued a consultation paper seeking public feedback on the proposed amendments to the Rules of Bursa Malaysia Depository Sdn Bhd as it moves towards further digitisation in the issuance of securities account statements to depositors (CDS statements).

Bursa Malaysia seeks feedback on depository rules for electronic CDS statements

Tune Protect Group Bhd (KL:TUNEPRO), which mainly provides travel insurance, is expected to end 2024 with a small profit following a recent turnaround before a jump in 2025, said TA Securities.

Tune Protect to end 2024 with small profit following 3Q turnaround — TA Securities

Fourteen members of the Syrian police were killed in an "ambush" by forces loyal to the ousted government in the Tartous countryside, the transitional administration said early on Thursday, as demonstrations and an overnight curfew elsewhere marked the most widespread unrest since Bashar al-Assad's removal more than two weeks ago.

Unrest in Syria spreads as 14 Syrian police killed in ambush

Telegram and Tencent’s WeChat have begun the process of obtaining the requisite licence to operate their platforms in Malaysia next year, according to regulator Malaysian Communications and Multimedia Commission (MCMC).