<div class=newsTextDataWrapInner>SINGAPORE (March 22): Shangri-La Asia has reported a net profit attributable to owners before non-operating items of US$129.0 million (S$174.1 million) for its financial year ended Dec 31, 2023 (FY2023), reversing its loss of US$161.6 million in FY2022.</div>

<div class=newsTextDataWrapInner>Including non-operating profit, earnings came to US$184.1 million for the full-year period, a swing of US$342.6 million compared to<a href="https://www.theedgesingapore.com/capital/results/shangri-la-asia-reverses-previous-losses-fy2023-earnings-us1841-mil" target="_blank">...(click on link for full story on theedgesingapore.com)</a> 
 
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SINGAPORE (March 22): Shangri-La Asia has reported a net profit attributable to owners before non-operating items of US$129.0 million (S$174.1 million) for its financial year ended Dec 31, 2023 (FY2023), reversing its loss of US$161.6 million in FY2022.

Shangri-La Asia reverses previous losses with FY2023 earnings of US$184.1 mil

Russia and Ukraine exchanged fire on energy facilities overnight, with an oil refinery damaged in Russia’s Krasnodar region, while Ukraine sustained a missile barrage on gas infrastructure and other targets.

Russia, Ukraine exchange strikes on refinery and gas targets

Deutsche Bank AG is putting aside as much as €1.3 billion (US$1.4 billion or RM6.6 billion) in legal provisions, warning this will hit profits.

The bank will book the potential payment in the current quarter, it said in a statement late on Friday. That will impact “second quarter and full-year profitability”, it said, while adding that the ultimate amount of the provisions is not clear yet.

Deutsche Bank earmarks US$1.4b provision in hit to profit

Genting Malaysia Bhd has dismissed reports linking the group and its deputy chairman and chief executive Tan Sri Lim Kok Thai to supposed discussions relating to the opening of a second casino for Malaysia in Forest City, Johor, to revive the US$100 billion (RM477.60 billion) development.

Genting Malaysia denies involvement in talks for Forest City casino

The Territorial Sea Act 2012 (Act 750) remains valid and applicable throughout Malaysia, including in Terengganu, unless declared otherwise by the court, says the Prime Minister’s Office, despite the Terengganu State Legislative Assembly's decision to reject its use.

Territorial Sea Act 2012 still valid, including in Terengganu, says PMO

The Malaysian government is serious about resolving issues surrounding the palm oil industry in the country, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.

Govt serious about resolving palm oil industry issues, says Johari Ghani

Three new semiconductor companies are keen to invest in Penang with total investments of US$100 million (RM477 million), said Chief Minister Chow Kon Yeow.

Three semiconductor firms keen to invest US$100m in Penang

Tan Sri Mokhzani Mahathir and his brother Mirzan Mahathir, who have been asked to declare their assets by the Malaysian Anti-Corruption Commission (MACC), have both denied being investigated by the agency.

Mahathir's sons, Mirzan and Mokhzani, deny being under MACC probe

Defence Minister Datuk Seri Mohamed Khaled Nordin said the government had no plans to temporarily suspend the service of Fennec and HOM helicopters.

Govt not suspending service of Fennec and HOM helicopters, says minister

It will be a four-way fight in the upcoming Kuala Kubu Bahru by-election between Pakatan Harapan’s pick Pang Sock Tao, Hulu Selangor Bersatu action division head Khairul Azhari, Parti Rakyat Malaysia’s Hafizah Zainudin and independent Nyau Ke Xin.

NEWS: Four-cornered fight in KKB by-election

Parti Rakyar Malaysia’s Hafizah Zainudin says that if elected, PRM will stand on a platform of increased transparency in government.

NEWS: Parti Rakyat Malaysia will run on more transparency

Kuala Lumpur Kepong Bhd (KLK) is investigating allegations of unethical recruitment practices made against the sub-agents of SOS Manpower Service, its appointed agent to recruit Nepalese foreign workers for its subsidiary&nbsp;KL-Kepong Rubber Products Sdn Bhd.

The allegations, according to KLK, were made by Sajha Sabal Media, a news portal in Nepal.

KLK investigating allegations of unethical practice linked to its foreign worker recruitment agent

The Kuala Kubu Baharu (KKB) state by-election will see a four-cornered fight between the candidates of Pakatan Harapan (PH), Perikatan Nasional (PN), Parti Rakyat Malaysia (PRM), and an independent.

A four-way bout in Kuala Kubu Baharu by-election

Former prime minister Datuk Seri Najib Razak was never confronted by the Malaysian Anti-Corruption Commission (MACC) on whether Blackstone Asia Real Estate Partners — which received millions from 1Malaysia Development Bhd (1MDB) and transferred it to his private banking account — was controlled or owned by fugitive Eric Tan Kim Loong, an alleged associate of Low Taek Jho or Jho Low.

Court told MACC never asked Najib if he knew who owned shell company that transferred US$30 mil to his account

Three new semiconductor companies are keen to invest in Penang with&nbsp;total investments of US$100 million (RM477&nbsp;million), said Chief Minister Chow Kon Yeow.

Bank of Singapore Ltd, the private-banking arm of Oversea-Chinese Banking Corp (OCBC), has fired up to 40 employees over the misuse of medical benefits, according to a CNA report.

Singapore bank fires workers over misuse of medical claims — CNA

Global&nbsp;stocks were higher on Friday, as Big Tech gains lifted Wall Street shares, while Japan's yen&nbsp;sank to a&nbsp;34-year low after the Bank of Japan (BOJ)&nbsp;kept&nbsp;monetary policy loose.

Global stocks gain on Big Tech lift; yen slides to 34-year low

Alphabet Inc&nbsp;closed decisively above a US$2 trillion (RM9.54 trillion) market capitalisation for the first time on Friday, as a powerhouse earnings report reassured investors that the Google parent would be a major player in artificial intelligence (AI).

Alphabet joins US$2 trillion club as results show AI strength

The Malaysian Palm Oil Association (MPOA) said&nbsp;there is an urgent need to accelerate replanting to address the issue of ageing oil palm trees, and urges the government to provide replanting tax incentives to support such efforts.

Ageing oil palm trees: MPOA calls for govt incentives to speed up replanting

Richly valued US&nbsp;stocks are leaving investors with little tolerance for disappointment, raising the stakes ahead of a week in which two more technology and growth giants are set to report.

Lofty US stocks leave investors punishing earnings disappointments

Genting Malaysia Bhd has dismissed reports linking the group and its deputy chairman and chief executive Tan Sri Lim Kok Thai to supposed discussions relating to the opening of a second casino for Malaysia in Forest City, Johor, to revive the US$100 billion (RM477.60 billion) development.

The Perak government is expected to establish cooperation with Star Group Industries (SGI), a leading South Korean company with experience in the production of downstream products of rare earth elements (REE).

Perak to collaborate with rare earth elements company from South Korea, says MB

Tan Sri Mokhzani Mahathir and his brother Mirzan Mahathir, who have been asked to declare their assets by the Malaysian Anti-Corruption Commission (MACC), have both denied being investigated by the agency.

Candidates contesting the upcoming Kuala Kubu Bharu by-election, a semi-urban seat located in the Hulu Selangor district, have started executing their campaign strategies over the weekend. The by-election is being held following the demise of its incumbent, Lee Kee Hiong from DAP, on March 21 due to cancer.

The Week Ahead: Attention on KKB by-election, FOMC decision, trade data in Asia

The nomination centre&nbsp;for the Kuala Kubu Baharu state by-election closed at 10am on Saturday.

The announcement was made by returning officer Yuhanas Auree Kamaruddin&nbsp;at the Hulu Selangor Multipurpose Hall and District Sports Complex here.

Nomination centre for Kuala Kubu Baharu by-election closes at 10am

Singapore will introduce a new law this year that will help so-called gig-economy workers plan for their retirement needs and get work injury protection, Minister for Manpower Tan See Leng said.

Singapore plans law to support gig workers’ retirement needs

The Territorial Sea Act 2012 (Act 750) remains valid and applicable throughout Malaysia, including in Terengganu, unless declared otherwise by the court, says the Prime Minister’s Office,&nbsp;despite the Terengganu State Legislative Assembly's decision to reject its use.

The Kuala Kubu Baharu (KKB) state by-election&nbsp;is the time for Barisan Nasional (BN) to return Pakatan Harapan’s (PH) favour in assisting Umno candidates in the previous elections, said&nbsp;Datuk Seri Dr Ahmad Zahid Hamidi.

Time for BN to return PH's favour in Kuala Kubu Baharu by-election, says Zahid

US&nbsp;regulators have seized Republic First Bancorp and agreed to sell it to Fulton Bank, the Federal Deposit Insurance Corp (FDIC) said on Friday, underscoring the challenges facing regional banks a year after the collapse of three peers.

US regulators seize troubled lender Republic First, sell it to Fulton Bank

Two earthquakes, the largest a 6.1 magnitude, struck Taiwan's eastern county of Hualien on Saturday, the island's weather administration said, with no immediate reports of damage.

The quakes, within half an hour of each other in the early hours of the morning, shook buildings in the capital, Taipei.

Taiwan rattled by quakes again, no immediate reports of damage

The Malaysian government is serious about resolving issues surrounding the palm oil industry in the country, said Plantation&nbsp;and Commodities Minister Datuk Seri&nbsp;Johari&nbsp;Abdul&nbsp;Ghani.