<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 17): KPMG Malaysia has announced the election of its current head of audit, Foong Mun Kong, as its incoming managing partner, with effect from Jan 1, 2025.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>According to KPMG's&nbsp;statement on Wednesday, he will succeed Datuk Johan Idris, who will transition to become the firm’s non-executive chairman at the end of his tenure as managing partner on Dec 31, 2024.</p></div>

<div class=newsTextDataWrapInner><p>Foong has been the firm’s head of audit since 2014, having proven expertise in various professional practice roles at the Malaysian Institute of Accountants (MIA), the Malaysian Institute of Certified Public Accountants (MICPA), and the Malaysian Accounting Standards Board (MASB).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“I’m extremely pleased to welcome Mun Kong as my successor with the full confidence that his expertise and leadership will benefit KPMG and the clients our professionals serve.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>“This passing of the torch is part of the firm’s one-year succession plan to ensure that KPMG remains on solid footing to drive continued business growth in Malaysia,” said Datuk Johan Idris.</p></div>


KPMG Malaysia has announced the election of its current head of audit, Foong Mun Kong, as its incoming managing partner, with effect from Jan 1, 2025.

KPMG’s head of audit to be incoming managing partner 

Meta’s move to remove independent fact-checking on its platforms will have repercussions, but it will not be affecting Malaysia’s social media community anytime soon, said Communications Minister Fahmi Fadzil.

Meta’s ending fact-checking on its platforms, but Malaysia yet to be affected — Fahmi

The owners of Swedish electric vehicle (EV) battery maker Northvolt on Wednesday voted in favour of continuing operations while it seeks to sort out its finances, the company said in a statement.

Northvolt to keep operating while seeking financial rescue

NEWS: Chief Justice: My conscience is clear

Aeon Co (M) Bhd (KL:AEON) announced on Wednesday that the High Court has granted the company a conditional stay of the judgment issued on Dec 16, 2024, which found Aeon in breach of a tenancy agreement with Betanaz Properties Sdn Bhd, a 51%-owned subsidiary of Ahmad Zaki Resources Bhd (KL:AZRB).

Aeon gets stay of High Court ruling in tenancy dispute with Ahmad Zaki unit, pending appeal 

Global Development Alliance’s (GDA) inability) to secure 90% shareholder acceptance for its takeover of Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT) by the initial Jan 8, 2025, deadline is an indication of the government’s failure and investors’ rejection of the privatisation plan, said Machang MP Wan Ahmad Fayhsal Wan Ahmad Kamal.

Inability to meet 90% acceptance for MAHB takeover signals govt failure — Perikatan MP

EVENING 5: Tax incentives for Johor-Singapore SEZ

The Malaysian Anti-Corruption Commission (MACC) has arrested eight individuals, including a government agency director and three company directors, on suspicion of involvement in bribery related to the approval of Commercial Vehicle Licences (LKP) without meeting required conditions.

Four directors among eight held by MACC over alleged vehicle licence bribery

(Jan 8): US mortgage rates edged up to just shy of 7% at the turn of year and a gauge of home-purchase applications tumbled to the lowest level since February, adding to evidence of a struggling housing market.

The contract rate on a 30-year mortgage rose two basis points to a six-month...

US 30-year mortgage rate just shy of 7% bridles home purchases

Erdasan Group Bhd, formerly known as AT Systematization Bhd, has proposed a share capital reduction to eliminate up to RM100 million of its accumulated losses.

The move is part of the group's strategy to align its capital structure with its current and future business needs, according to Erdasan.

Erdasan Group, formerly AT Systematization, proposes share capital reduction to wipe out losses

US President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, CNN reported on Wednesday, citing sources familiar with the matter.

Trump mulls national economic emergency declaration to allow for new tariff programme — report

<p>Immediate-past attorney general Tan Sri Ahmad Terrirudin Mohd Salleh and his successor, Datuk Mohd Dusuki Mokhtar, are choosing to stay silent over the controversial purported ‘house arrest addendum’ related to imprisoned former prime minister Datuk Seri Najib Razak.</p>


Present and former AGs keeping mum on purported house arrest addendum for Najib

<p>Investors in the Johor-Singapore Special Economic Zone (JS-SEZ) are eligible for a suite of incentives, including a special corporate tax rate that takes effect on Jan 1, the Finance Ministry said on Wednesday.</p>


Malaysia announces tax incentives for Johor-Singapore Special Economic Zone

<p>The Penang Water Supply Corporation (PBAPP) said on Wednesday that it will roll out six water supply related projects worth over RM1.8 billion, as part of its efforts to address rising water consumption.</p>


Penang to kick off six water projects worth over RM1.8 bil

<p>Local technology stocks are expected to see a double-digit compounded earnings growth till 2026, amid increased investments in artificial intelligence (AI), said CIMB Securities.</p>

<p>The technology sector's revenue is projected to grow at an average annual rate of 13% from 2025 to 2026, compared with 1% in 2024, driven by a rebound in semiconductor industry demand, supply chain diversification to Asean, and inventory replenishment, the research house said.</p>


Local tech stocks poised for double-digit earnings growth as semiconductor market recovers — CIMB Securities

<p>In what is possibly her final speech at the Opening of the Legal Year, Chief Justice Tun Tengku Maimun Tuan Mat said that her time as the top judicial officer of the country has been filled with tests — being criticised, vilified, labelled as un-Islamic or an enemy of Islam, and even having her husband (unfairly so) being used against her in some applications to not only have her recused&nbsp;but, more generally, to embarrass her and the bench.</p>


Chief justice: My conscience is clear

<p>Construction and property firms would be the first beneficiaries of the Johor-Singapore Special Economic Zone (JS-SEZ) that will require everything from utilities to warehouses, and from houses to offices.</p>


Builders, developers first beneficiaries of Johor-Singapore Special Economic Zone, analysts say

<p>MRT Corp has proposed part of the Sungai Nibong Festival Site here for use to build a depot for the Mutiara Line Light Rail Transit (LRT) project, said Penang Chief Minister Chow Kon Yeow.</p>


MRT Corp proposes LRT depot at Sungai Nibong Festival Site — Chow

<p>The new Monthly Tax Deduction (PCB) service system, e-PCB Plus, will be introduced to replace the existing systems e-PCB, e-Data PCB and eCP39, under one platform through the MyTax portal.</p>

<p>The Inland Revenue Board (IRB), in a statement on Wednesday, said that this is in line with the implementation of the transition plan towards the e-PCB Plus Phase 1 system on Sept 24 last year.</p>


IRB introducing new monthly tax deduction system called e-PCB Plus

<p><strong>Following is the full text of the speech given by the Chief Justice of Malaysia, Tun Tengku Maimun Tuan Mat on the occasion of the Opening of the Legal Year (OLY) 2025 on Wednesday (Jan 8) at the Putrajaya International Convention Centre.</strong></p>

<p>I would like to begin by thanki...

Speech by Chief Justice of Malaysia Tun Tengku Maimun Tuan Mat at the Opening of Legal Year 2025

<p dir="ltr" style="text-align:start; -webkit-text-stroke-width:0px; margin-top:0pt; margin-bottom:0pt">Competitive pressures within the data centre sector may pose a threat to smaller players with limited resources from gaining a foothold, especially in more saturated key markets such as Johor, said BMI.</p>


Smaller data centre players to face competitive pressures, especially in Johor — BMI

<p>Chief Justice Tun Tengku Maimun Tuan Mat hopes the present and future governments will uphold the cause of judicial independence to ensure the country's economic growth.</p>


Chief justice hopes Anwar and future govt remain committed to upholding judicial independence

<p>Welded pipe manufacturer Pantech Global Bhd entered into an underwriting agreement with Alliance Islamic Bank in conjunction with its initial public offering (IPO) on the Main Market of Bursa Malaysia.</p>


Pantech Global inks underwriting agreement with Alliance Islamic Bank for Main Market IPO

<p>South Korea's impeached President Yoon Suk Yeol faces a new and potentially more robust attempt to arrest him for insurrection after a top investigator vowed to do whatever it takes to break a security blockade and take in the embattled leader.</p>


South Korea's Yoon faces new arrest attempt in fortified compound

<p>Outgoing Chief Justice Tun Tengku Maimun Tuan Mat said that she had never coveted the country’s top judicial post, and while it was an intimidating position to hold, upon accepting it six years ago, she was fully committed to serving the position properly and would not “bend or bow” to any person.&nbsp;</p>


Chief justice: I never coveted top judicial post 

<p>Swift Energy Technology Bhd (KL:SET), listed on Wednesday, has already attracted the attention of two analysts projecting sharp earnings growth for the industrial services firm.</p>


Newly-listed Swift Energy attracts analyst coverage projecting sharp earnings growth

<p>Tencent Holdings Ltd repurchased the most shares in nearly two decades after a sell-off sparked by the tech firm’s addition to a US blacklist for alleged links to the Chinese military.</p>


Tencent makes biggest buyback since 2006 after US blacklist

<p>Electric vehicle producer BYD brought hundreds of Chinese workers on irregular visas to build a factory in Brazil, a key labour inspector told Reuters on Tuesday, adding the company has pledged to comply with local labour laws for the workers remaining in the country.</p>


BYD brought hundreds of Chinese workers to Brazil on irregular visas, inspector says

<p>Construction firm Lim Seong Hai Capital Bhd (KL:LSH) and soil erosion control company Fibromat (M) Bhd (KL:FBBHD) have received approval to transfer their listings to the ACE Market from the LEAP Market.</p>


Lim Seong Hai, Fibromat get Bursa nod for transfer to ACE Market

<p>Malaysia and Singapore reaffirmed their commitment to revamp the Joint Ministerial Committee for Iskandar Malaysia (JMCIM) to better support the Johor-Singapore Special Economic Zone (JS-SEZ).</p>


Malaysia, Singapore reaffirm plan to revamp joint ministerial committee after special economic zone agreement

<p>Soon-to-retire Chief Justice Tun Tengku Maimun Tuan Mat, mindful of three other top judges in the country who are also close to retirement, urged incoming judges to uphold their oaths of office and adhere to <em>stare decisis</em>, a Latin term meaning 'to stand by things decided'. It refers to the doctrine of precedent in justice, where courts follow previous rulings in similar cases to ensure consistency in legal decisions.</p>
