<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 3): Datuk Fad'l Mohamed has resigned as CEO of Maybank Investment Bank Bhd (Maybank IB).</p></div>

<div class=newsTextDataWrapInner><p>In a statement, the investment bank said its chief operating officer Tengku Ariff Azhar Tengku Mohamed has been appointed its officer-in-charge effective Wednesday, after Fad'l stepped down.</p></div>

<div class=newsTextDataWrapInner><p>"On behalf of Maybank Group, I extend my deepest gratitude to Fad'l for his invaluable contributions over the past nine years," said Maybank group CEO of global banking Datuk Muzaffar Hisham in the statement.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"He has played a pivotal role in steering the growth of our investment banking franchise in Malaysia, winning deals and accolades, and supporting the achievement of Maybank’s M25+ strategic priorities. We wish him well in his new undertakings," he added.</p></div>

<div class="mt-3 embed-right imgw-300"><img alt="" src="https://assets.theedgemarkets.com/pics/2023/Tengku-Ariff-mbbib.jpg" />
<div class="thumb-cap">Tengku Ariff Azhar Tengku Mohamed (Photo courtesy of Maybank)</div>
</div>

<div class=newsTextDataWrapInner><p>According to Maybank IB, Tengku Ariff will be responsible for the investment bank's day-to-day management on top of his COO duties, until a new CEO is appointed.</p></div>

<div class=newsTextDataWrapInner><p>Fad'l joined the investment bank as its deputy CEO back in 2015, before being promoted to CEO in 2018.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:</em><br />
<a href="https://theedgemalaysia.com/article/maybank-ib-appoints-fad%E2%80%99l-mohamed-deputy-ceo-confirms-edge-report" target="_blank"><em>Maybank IB appoints Fad’l Mohamed as Deputy CEO, confirms Edge report</em></a><br />
&nbsp;</p></div>


Datuk Fad'l Mohamed has resigned as CEO of Maybank Investment Bank Bhd (Maybank IB).

Fad'l Mohamed resigns as Maybank IB CEO, COO Tengku Ariff appointed as person-in-charge

KUALA LUMPUR (Nov 22): Damansara REIT Managers Sdn Bhd, the manager of Al-`Aqar Healthcare REIT and Al-Salam REIT, has appointed Zulhilmy Kamaruddin as its new chief executive officer (CEO) as of Thursday (Nov 21).

Damansara REIT Managers appoints Zulhilmy Kamaruddin as its new CEO

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.

Gold surges and euro sags as broader war risks rise 

GEORGE TOWN (Nov 22): The State Assemblyman for Sungai Bakap, Abidin Ismail, was sworn in on Friday during the second sitting of the second term of the 15th Penang State Legislative Assembly at the State Assembly building at Lebuh Light.

Abidin takes oath of office as Sungai Bakap state assemblyman

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.

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

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.

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

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

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

Japan's core inflation in October held above the central bank's 2% target and a key index stripping away the effect of fuel accelerated, data showed on Friday, keeping pressure on the central bank to raise its still-low interest rates.

Japan's core inflation steady above BOJ target, service prices firm

TOKYO (Nov 22): Nissan Motor 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 Reuters on Friday.

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

Singapore on Friday upgraded its economic outlook for 2024 as third quarter gross domestic product growth beat expectations and initial estimates, helped by stronger semiconductor production and engineering demand.

Singapore revises 3Q GDP higher, upgrades 2024 outlook

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.

Trump picks Pam Bondi for US attorney general after Gaetz withdraws

<p>Here is a brief recap of some corporate announcements that made the news on Thursday.</p>


Petron, DRB-Hicom, Dayang Enterprise, AEON, 7-Eleven, MSM, Hap Seng Consolidated, SunCon, UEM Sunrise, Mega First, Oriental, Heitech Padu, Can-One, Atlan, Maxim, Thong Guan, Globetronics

<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>


<p>The Inland Revenue Board (LHDN) will continue to enforce compliance through audits and investigations to detect any non-compliance among taxpayers in Malaysia.</p>

<p>LHDN deputy chief executive officer (Compliance) Datuk Hisham Rusli said that all actions are carried out in accordance with the laws set forth.</p>


IRB committed to improving tax compliance via  audits, probes

<p>Magnum Bhd (KL:MAGNUM) reported a slight dip in net profit in the July-Sept period as income tax and other expenses increased, but cushioned by better income generated by its gaming and investment holdings and other segments.</p>


Magnum posts marginally lower net profit in 3Q, amid higher tax and other expenses, declares 1.5 sen dividend

<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>


<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>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>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>


<p>The International Criminal Court issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes in the Gaza Strip, adding to pressure on the country’s leadership over the conduct of its military campaign against Hamas.</p>


ICC issues arrest warrant for Israel’s Netanyahu on Gaza ‘war crimes’

<p>Thailand is taking steps to attract more foreign investment to accelerate economic growth while preparing to adjust its policies to cope with potential changes to world trade under a Trump presidency, Prime Minister Paetongtarn Shinawatra said.</p>


Thailand seeks foreign investment as PM plans for Trump era

<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>Wall Street's main stock indexes were mixed in choppy trading on Thursday as Alphabet weighed on the market, while investors also focussed on AI-heavyweight Nvidia's upbeat quarterly results and forecast.</p>


Wall Street mixed after Nvidia results; Alphabet weighs

<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>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>


<p>The use of money-market fund tokens from the likes of BlackRock Inc&nbsp;and Franklin Templeton as collateral in traditional derivatives trades inched closer to reality on Thursday.</p>


CFTC advisers recommend use of tokenised assets as collateral

<p>Reddit was down for thousands of users on Thursday, according to outage tracking website Downdetector.com, a day after the social media company said it had fixed a software bug.</p>

<p>Downdetector, which tracks outages by collating status reports from several sources including users, showed more than 14,000 reports of outages.</p>


Reddit down for thousands of users, Downdetector shows

<p>PDD Holdings Inc’s shares plunged after warning that its profitability will trend downwards over time because of intensifying competition in its home market of China.</p>

<p>PDD, which competes with Alibaba Group Holding Ltd, said its team was struggling to catch up with unspecified rivals because of a lack of expertise.</p>
