<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 17): Destini Bhd (KL:<a href="/askedge/klse/7212" class="ce-stock" target="_blank">DESTINI</a>) said a Dutch shipbuilding company has commenced arbitration proceedings against the group and its subsidiary, claiming up to €3.03 million (RM15.45 million) over alleged unpaid invoices.</p></div>

<div class=newsTextDataWrapInner><p>Damen Shipyards Gorinchem BV filed the notices of arbitration against Destini and Destini Shipbuilding and Engineering Sdn Bhd (DSBE) with the Singapore International Arbitration Centre (SIAC) on May 13, said Destini in a bourse filing on Friday.</p></div>

<div class=newsTextDataWrapInner><p>It said the disputes arose from a material packages contract Damen entered into with DSBE in June 2017 and a subsequent corporate guarantee given by Destini.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Under SIAC rules, Destini and DSBE are both required to file a response with the arbitration centre within 14 days from receipt of the notices of arbitration.</p></div>

<div class=newsTextDataWrapInner><p>Destini said it will seek legal advice to dispute the reliefs claimed by Damen.</p></div>

<div class=newsTextDataWrapInner><p>"The respondents (Destini and DSBE) will dispute the reliefs claimed by the claimant (Damen) and will raise a response in the response to notices of arbitration that will be served in due course," Destini added.&nbsp;&nbsp;&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Destini’s shares closed up 0.5 sen or 20% to three sen on Friday for a market capitalisation of RM124.76 million.</p></div>


Destini Bhd (KL:DESTINI) said a Dutch shipbuilding company has commenced arbitration proceedings against the group and its subsidiary, claiming up to €3.03 million (RM15.45 million) over alleged unpaid invoices.

Dutch firm initiates arbitration against Destini over alleged unpaid invoices

THE listing of TMK Chemical Bhd (KL:TMK) on the Main Market of Bursa Malaysia will take place on Thursday, Dec 12.

At an initial public offering (IPO) price of RM1.75 per share, TMK — which specialises in chemical management and storage solutions — will have a market capitalisation of R...

IPO Watch: Main Market debut for TMK Chemical this Thursday 

KUALA LUMPUR (Dec 16): Shares in Supermax Holdings Bhd (KL:SUPERMAX) rose to their highest in nearly three years in active trade on Monday morning, amid US’ efforts to boost nitrile-glove production there.

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theedgemalaysia.com highlighted three stocks with positive momentum and two stocks with negative momentum at Bursa Malaysia's afternoon close on Monday.

Stocks with momentum on Dec 16: Hektar REIT, ACME, JF Tech, ViTrox, OSK

Fuse Media, a Latino-owned entertainment company, has become the latest party to raise objections to the pending Skydance-Paramount merger, suggesting to a federal regulator that Paramount chair Shari Redstone would be overpaid in the deal, to the detriment of the media business.

Studio protests over Paramount chair payout in Skydance deal

(Dec 16): Wealth managers are ramping up hiring in Hong Kong to cater to an inflow of mainland Chinese money.

Private banks boost Hong Kong hiring to woo rich Chinese clients

Lotte Chemical Titan Holding Bhd (KL:­LCTITAN) just can’t seem to catch a break.

Last Friday, the loss-making olefin and polyolefin producer announced that it would temporarily shut down one of its plants at the Pasir Gudang Complex in Johor, from Dec 15, to mitigate losses stemming fro...

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THERE was a slew of initial public offerings (IPOs) over the last three years. Indeed, between the beginning of 2022 and November 2024, more than 100 companies made their debut on the local stock exchange, with the majority of them being ACE Market listings.

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EDGE WEEKLY: Fulfilling public transport needs

Indonesia on Monday announced economic measures to soften the blow of an increase in the value-added tax (VAT) rate, including electricity tariff cuts, incentives for labour-intensive industries, and VAT exemption on some property sales.

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Opposition lawmakers in Taiwan pushed forward legal changes that would make it harder to recall elected officials and representatives, a contentious move that would help them secure a legislative majority they’ve used to take on President Lai Ching-te.

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<p>YTL Power International Bhd's (KL:YTLPOWR) data centres are well on track, with the second phase of 8MW under Johor Data Centre 1 (JDC1) expected to come online by end-2024, according to MIDF Research.</p>


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<p>TopVision Eye Specialist Bhd (KL:TOPVISN) shares staged a strong debut on the ACE Market on Monday, as it looked to raise close to RM18 million from its initial public offering (IPO).</p>


TopVision shares stage strong debut on ACE Market

<p>KUALA LUMPUR (Dec 16): TNG Digital Sdn Bhd urges users to verify their TNG eWallet accounts for better security, according to its statement on Monday.</p>


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<p>(Dec&nbsp;16) :&nbsp;Australia’s markets watchdog sued HSBC Bank of Australia Ltd&nbsp;for failing to protect customers who lost millions of dollars in scams.&nbsp;</p>


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<p>KUALA LUMPUR (Dec 15): The International Monetary Fund (IMF) has commended Malaysia’s economic reforms, notably the introduction of the Public Finance and Fiscal Responsibility Act (FRA) 2023, and the successful implementation of electricity and diesel subsidy reforms.&nbsp;</p>


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<p>(Dec&nbsp;16):&nbsp;Asian stocks are set to fall on Monday, ahead of a swath of Chinese data and a vow from the nation’s regulators to stabilise markets. South Korean assets will be closely watched after President Yoon Suk Yeol was&nbsp;impeached.&nbsp;</p>


Asia wary of Fed rate future, China data disappoints

<p>Gamuda Bhd's (KL:Gamuda) Australian subsidiary DT Infrastructure Pty Ltd has secured a A$625 million (RM1.8 billion) engineering, procurement and construction (EPC) job for the Goulburn River Solar Farm project.</p>


Gamuda's Australian unit bags RM1.8 bil EPC job for Goulburn River Solar Farm

<p>The International Monetary Fund (IMF) has assessed Malaysia's current monetary policy stance as appropriate but emphasised that Bank Negara Malaysia has to be ready to tighten policy in 2025 amid inflation risks.</p>


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<p>(Dec&nbsp;16) :&nbsp;Wall Street is starting to sour on the dollar as President-elect Donald Trump’s policies and the Federal Reserve’s interest-rate cuts will likely put pressure on the greenback in the latter portion of 2025.</p>


Dollar’s trump-fuelled gains face a reality check late next year

<p>China's industrial output growth quickened slightly in November, while retail sales disappointed, keeping pressure on Beijing to ramp up stimulus for a fragile economy as it braces for more US trade tariffs under a second Trump administration.</p>


China's weak consumption drags on economy as Trump tariff threat looms

<p>KUALA LUMPUR (Dec 16): The High Court here has ordered former prime minister Tan Sri Muhyiddin Yassin to pay RM400,000 to DAP chairman Lim Guan Eng by year’s end, and the remaining RM1 million by Jan 27 next year.&nbsp;</p>


High Court orders Muhyiddin to pay RM400k to Guan Eng by year’s end, and balance RM1m by Jan 27

<p>Grab Holdings Ltd’s ability to cut costs and edge out rivals in Southeast Asia’s ride-hailing arena helped push its share performance above global peers this quarter, with some analysts citing further gains ahead.</p>


Grab stock’s big quarter has some analysts seeing further gains

<p>TOKYO/SINGAPORE (Dec 16): Bitcoin&nbsp;surged to a record high above US$106,000 (RM471,944) in early Asian trade on Monday, boosted by comments from President-elect Donald Trump that suggested he plans to create a US&nbsp;bitcoin&nbsp;strategic reserve similar to its strategic oil reserve.</p>


Bitcoin surges above US$106,000 on strategic reserve hopes

<p>(Dec&nbsp;16) :&nbsp;What was supposed to be a comeback year for Boeing Co. has turned into its worst stock-market plunge since 2008, and if Wall Street is right, the plane-maker’s shares may have only a modest recovery in store in 2025.&nbsp;</p>


Boeing’s year of crisis leaves investors wary of beaten-up stock

<p>(Dec&nbsp;16) : South Korea’s currency and its stock market will take centre stage on Monday, as investors respond to a weekend vote to impeach President Yoon Suk Yeol following his attempt to impose martial law.</p>


Korean won, stocks take spotlight after impeachment vote

<p>KUALA LUMPUR (Dec 16): Yinson Holdings Bhd (KL:YINSON), whose share price dropped nine sen in the morning session on Monday, is expected to see strong earnings ahead, as it gears up to deliver multiple major floating production storage and offloading (FPSO) units, with new opportunities on the horizon, said analysts.&nbsp;</p>


Yinson poised for strong earnings growth amid major FPSO deliveries, say analysts

<p>(Dec 16):&nbsp;Chinese President Xi Jinping dismissed internal divisions within the ruling Communist Party as unavoidable, while calling for greater efforts to instil&nbsp;discipline, according to newly disclosed remarks he made at an anti-graft meeting in January.</p>


Xi says ‘inevitable’ for ruling party to have internal conflicts

<p>PUTRAJAYA (Dec 16): Thailand’s Prime Minister Paetongtarn Shinawatra, who is on a two-day official visit to Malaysia, attended&nbsp;an official welcoming ceremony at Perdana Putra Complex&nbsp;here on Monday.</p>


Thai PM Paetongtarn Shinawatra accorded official welcome at Perdana Putra

<p>SEOUL (Dec 16): South Korea’s Constitutional Court will begin on Monday reviewing the impeachment of President&nbsp;Yoon&nbsp;Suk Yeol over his Dec&nbsp;3&nbsp;martial law&nbsp;attempt, while investigators said they plan to question him this week.</p>


South Korean court begins review of Yoon impeachment

<p>SEOUL (Dec 16):&nbsp;South&nbsp;Korean shares climbed on Monday to their highest level in more than two weeks, after parliament impeached President Yoon Suk Yeol over the short-lived martial law.</p>
