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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: Aerotrain project back on track with Alstom, IJM-Pestech</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
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<div class=newsTextDataWrapInner><p>Here’s a quick look at some of the stories that made headlines today.</p></div>

<div class=newsTextDataWrapInner><p>Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.</p></div>

<div class=newsTextDataWrapInner><p>1. Malaysia Airports Holdings Bhd has announced that a consortium consisting of ALSTOM Transport Systems (Malaysia) Sdn Bhd, IJM Construction Sdn Bhd and Pestech Technology Sdn Bhd will be <a href="https://theedgemalaysia.com/node/697672" target="_blank">completing </a>the aerotrain replacement project.</p></div>

<div class=newsTextDataWrapInner><p>2. The National Water Services Commission has announced that water tariffs for domestic users in the peninsula and Labuan will <a href="https://theedgemalaysia.com/node/697645" target="_blank">increase </a>an average of 22 sen per cubic metre, effective Feb 1.</p></div>

<div class=newsTextDataWrapInner><p>3. It was a red day on the bourse as heavy selling <a href="https://theedgemalaysia.com/node/697712" target="_blank">persisted </a>and a number of counters <a href="https://theedgemalaysia.com/node/697686" target="_blank">hit </a>limit down.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>4. Datuk Seow Gim Shen, Metaco Assets Holdings Sdn Bhd and Bemas Holdings Sdn Bhd have <a href="https://theedgemalaysia.com/node/697708" target="_blank">emerged </a>as the new substantial shareholders of Rexit Bhd.</p></div>

<div class=newsTextDataWrapInner><p>5. Sarawak Consolidated Industries Bhd is in talks with the Sarawak state government over a potential land acquisition, after its shares hit limit down for the <a href="https://theedgemalaysia.com/node/697648" target="_blank">second </a>consecutive day.</p></div>

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EVENING 5: Five things you need to know today

Asian stocks were set for a higher open following election-day gains in the US, as traders hunkered down awaiting results in a presidential race pitting divergent visions of global trade and the economy.

Gauges of expected volatility crept up amid hedging by investors before an outcome that remained too close for pollsters to call.

Asian stocks to echo US gains as vote count nears

Malaysia remained the fifth most connected country in Asean in the first half of 2024 (1H2024), after Thailand, Singapore, Vietnam and Indonesia, according to the Malaysian Aviation Commission’s (Mavcom) latest Air Connectivity Index (ACI).

Malaysia the fifth most connected country in Asean in 1H

A growing number of Wall Street strategists are predicting that a decision in the US presidential election will set the stage for stocks to rally into the end of 2024, building on a 21% gain this year for the S&P 500 Index.

Morgan Stanley’s Mike Wilson and JPMorgan Chase & Co.’s Dubravko Lakos-Bujas are among market watchers who said this week that the stock benchmark is poised to swing higher once a victor is declared.

Wall Street is counting on stocks to rally after election hurdle

Stocks climbed Tuesday while Treasuries were mixed and the dollar fell in the last trading session before votes are tallied in a US presidential race with far-reaching implications for the economy.

Neither the size of the moves nor volume indicated strong conviction on the outcome of a contest that polls continue to put at a dead heat.

Tech pushes stocks higher with vote in full swing

Wall Street's main indexes rose on Tuesday as technology and chips stocks gained, while investors braced for volatile trading over the next few sessions as voting began in a tightly contested US presidential election.

Wall Street gains on election day as technology, chip stocks rise

The economic cost of climate change will likely be much more severe than previously feared, as fresh data informs models used to predict the most probable outcomes.

Taking the latest available climate data into account, including record increases in temperatures, “the projected physical risk impact” of climate change on gross domestic product (GDP) has quadrupled by 2050 in some scenarios, the Network for Greening the Financial System (NGFS) said in a report on Tuesday.

Global GDP seen taking much bigger climate hit than first feared

The US trade deficit surged to nearly a 2-1/2-year high in September as businesses boosted imports to meet robust domestic demand and in anticipation of higher tariffs on goods.

Imports boost US trade deficit to nearly 2-1/2-year high in September

The UK’s fiscal watchdog accused Treasury civil servants of breaking the law by withholding information before the March budget, raising the stakes in a blame game over who was responsible for hiding a multi-billion pound shortfall.

UK budget watchdog says Treasury officials may have broken law

Global investors were on edge as Americans headed to the polls on Tuesday, drawing to a close a dramatic US election cycle that has moved bonds, stocks and other assets in recent months and could further sway markets as results become clearer.

Anxious global investors brace for long-awaited US election results 

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

F&N, Xin Hwa, IOI Corp, T7 Global, TCS Group, Sime Darby Property, Aneka Jaringan

<p>Super Micro Computer Inc started the year as a hot artificial intelligence (AI) trade. But just eight months after shares hit a record high, investors are asking whether the server maker will be delisted by Nasdaq Inc and booted from the S&amp;P 500.</p>


Super Micro faces delisting, S&P 500 removal amid auditor woes

<p>Police in Bangladesh have asked the Malaysian government to arrest and extradite two businessmen as part of a probe of alleged money laundering, extortion and trafficking of migrant workers.</p>


Bangladesh seeks arrest of Bestinet founder, associate in worker trafficking probe

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.</p>


<p>Electrical engineering services provider HE Group Bhd (KL:HEGROUP), which was listed on the ACE Market in January, said its major shareholders plan to dispose of 4.54% of their shares to comply with a Bumiputera equity condition set by the authorities.</p>


HE Group's major shareholders to sell 4.54% stake to Bumiputera investors

<p>The founding couple of an online fashion business on Tuesday provided their statements to the Malaysian Anti-Corruption Commission (MACC).</p>


FashionValet founders quizzed over RM43.9m investment loss

<p>Construction player Gagasan Nadi Cergas Bhd (KL:NADIBHD) is buying two companies for RM185 million, cash, to gain control of Konsortium PAE Sepakat Sdn Bhd (KPSSB), which owns a facility management concession for student hostel facilities in seven polytechnic campuses.</p>


Gagasan Nadi Cergas buys student hostel management concession for RM185m

<p>Here’s a quick look at some of the stories that made headlines today.</p>


<p>Wall Street's main indexes rose on Tuesday as technology and chips stocks gained, while investors braced for volatile trading over the next few sessions as voting began in a tightly contested US presidential election.</p>


<p>The US stock market is unlikely to head into a bear market in the next 12 months, with a resilient economy continuing to support equities, according to Goldman Sachs Group Inc strategists.</p>


Goldman strategists see little chance of post-poll bear market

<p>Malaysia will be the first Southeast Asian country to host the Smart City Expo (SCE) in Kuala Lumpur from Sept 17-19, 2025. It highlights the country’s commitment to innovation and sustainable digital city development while positioning itself as a leading nation in Asean.&nbsp;</p>


KL gears up for Southeast Asia's inaugural Smart City Expo — Gobind

<p>A growing number of Wall Street strategists are predicting that a decision in the US presidential election will set the stage for stocks to rally into the end of 2024, building on a 21% gain this year for the S&amp;P 500 Index.</p>

<p>Morgan Stanley’s Mike Wilson and JPMorgan Chase &amp; Co.’s Dubravko Lakos-Bujas are among market watchers who said this week that the stock benchmark is poised to swing higher once a victor is declared.</p>


<p>Malaysia remained the fifth most connected country in Asean in the first half of 2024 (1H2024), after Thailand, Singapore, Vietnam and Indonesia, according to the Malaysian Aviation Commission’s (Mavcom) latest Air Connectivity Index (ACI).</p>


<p>Asian stocks were set for a higher open following election-day gains in the US, as traders hunkered down awaiting results in a presidential race pitting divergent visions of global trade and the economy.</p>

<p>Gauges of expected volatility crept up amid hedging by investors before an outcome that remained too close for pollsters to call.</p>


<p>Global investors were on edge as Americans headed to the polls on Tuesday, drawing to a close a dramatic US election cycle that has moved bonds, stocks and other assets in recent months and could further sway markets as results become clearer.</p>


<p>The economic cost of climate change will likely be much more severe than previously feared, as fresh data informs models used to predict the most probable outcomes.</p>

<p>Taking the latest available climate data into account, including record increases in temperatures, “the projected physical risk impact” of climate change on gross domestic product (GDP) has quadrupled by 2050 in some scenarios, the Network for Greening the Financial System (NGFS) said in a report on Tuesday.&nbsp;</p>


<p>Housing and Local Government Minister Nga Kor Ming urged the international community to promote people-public-private partnerships (4P) for sustainable cities and communities.</p>

<p>Speaking at the 12th World Urban Forum Business Assembly in Cairo, Egypt he said a better quality of life for the citizens cannot be delivered without the full participation of the private sector.</p>


Nga calls for global support of people-public-private partnership for sustainable cities

<p>The increased RM25 million allocation in the 2025 Budget for rare disease treatment costs is expected to improve haemophilia care, said Bentong Member of Parliament (MP) Young Syefura Othman.</p>


Increased allocation for rare diseases expected to assist haemophilia treatment, says Bentong MP

<p>The UK’s fiscal watchdog accused Treasury civil servants of breaking the law by withholding information before the March budget, raising the stakes in a blame game over who was responsible for hiding a multi-billion pound shortfall.</p>


<p>Investigators searched the offices of US streaming giant Netflix in France and the Netherlands as part of a preliminary investigation into tax fraud laundering, a French judicial source said on Tuesday.</p>


Tax fraud investigators search Netflix offices in Paris and Amsterdam — Reuters

<p>The US trade deficit surged to nearly a 2-1/2-year high in September as businesses boosted imports to meet robust domestic demand and in anticipation of higher tariffs on goods.</p>
