<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 24): Silver Ridge Holdings Bhd's (KL:<a href="/askedge/klse/0129" class="ce-stock" target="_blank">SRIDGE</a>) group chief executive officer Lee Wei Chiek has resigned just over one month after being appointed to the post.</p></div>

<div class=newsTextDataWrapInner><p>According to a bourse filing on Friday, Lee resigned from the position due to a “personal matter”.</p></div>

<div class=newsTextDataWrapInner><p>The 42-year-old was appointed as group CEO on April 1, along with a slew of other boardroom changes.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group’s then chief financial officer cum executive director Datuk Khoo Yik Chou was redesignated as group managing director.</p></div>

<div class=newsTextDataWrapInner><p>Meanwhile, Syauqat Mohd Suhaimi was redesignated to deputy group managing director from group managing director, replacing his brother Syakur Mohd Suhaimi, who has been redesignated as an executive director.</p></div>

<div class=newsTextDataWrapInner><p>Both Syauqat and Syakur are the sons of Silver Ridge’s founder and the largest shareholder, Datuk Mohd Suhaimi, who owns a 13.94% stake.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Silver Ridge ended 1.5 sen or 4.35% higher at 36 sen, valuing the group at RM78.99 million.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/706563" target="_blank">Boardroom reshuffles at Silver Ridge</a></em></p></div>


Silver Ridge Holdings Bhd's (KL:SRIDGE) group chief executive officer Lee Wei Chiek has resigned just over one month after being appointed to the post.

Silver Ridge CEO Lee Wei Chiek resigns after one month

The legal counsel for Segambut Member of Parliament Hannah Yeoh has filed an appeal in the Court of Appeal on Thursday challenging the High Court's decision to dismiss her defamation suit against former inspector general of police Tan Sri Musa Hassan.

Hannah Yeoh appeals dismissal of defamation suit against ex-IGP

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

TNB, Samaiden, Gadang, Aizo, MyMBN, YTL Power, Kawan Renergy, Taghill, BHIC, Teck Guan, CCK, Lebtech, Southern Cable

Wall Street's main indexes drifted lower in light trading volumes on Thursday, as rising yields pressured some shares, while investors looked for a year-end boost from the so-called Santa Claus rally.

Wall Street slips as rising yields pressure some shares 

Azerbaijan Airlines’ Embraer SA 190 aircraft was damaged by Russian air defence systems near Grozny before it crashed in Kazakhstan during an attempted emergency landing, according to Azerbaijan government-backed Caliber news website.

Azeri plane hit by Russian air defence before crash — report

YTL Power International Bhd (KL:YTLPOWR) said on Thursday that the Employees Provident Fund (EPF) has once again ceased to be a substantial shareholder in the multi-utility owner and operator after offloading 14.93 million shares.

EPF ceases to be substantial shareholder in YTL Power

Keyfield International Bhd (KL:KEYFIELD) has issued its maiden RM200 million Islamic bonds (sukuk) under its sukuk wakalah programme of RM1 billion.

Keyfield International issues maiden RM200m sukuk

The Taiping High Court has awarded RM1.8 million in damages to a former security guard who sustained a brain injury due to medical negligence during treatment following a motorcycle accident in 2016.

Court awards RM1.8 mil to ex-security guard over medical negligence

EVENING 5: Base electricity tariff for 2025-2027 to be adjusted upward, says TNB

Finnish authorities said they had boarded and taken control on Thursday of an oil tanker travelling from Russia, on suspicion it had caused the outage on Wednesday of an undersea power cable and three internet lines connecting Finland and Estonia.

Finland boards oil tanker after internet and power cable outages

Recurring applications for US unemployment benefits rose to the highest in more than three years, adding to signs that it is taking longer for out-of-work people to find a job.

US continuing claims rise to highest in more than three years

<p>Peninsular Malaysia's base electricity tariff has been set at 45.62 sen per kilowatt hour (kWh) in the three-year regulatory period 2025-2027 (RP4), said Tenaga Nasional Bhd (TNB) (KL:TENAGA).&nbsp;</p>


TNB announces higher base electricity tariff for 2025-2027, raises capex to ensure reliable supply

<p>Tenaga Nasional Bhd (KL:TENAGA) said on Thursday that its unit has been shortlisted by the Energy Commission (EC) to develop a 500-megawatt (MWac) large-scale solar photovoltaic (PV) plant in Kuala Muda, Kedah.</p>


TNB among LSS5 winners, bags 500MW solar farm project in Kedah

<p>Boustead Heavy Industries Corp Bhd (KL:BHIC) has appointed former Royal Malaysian Air Force (RMAF) chief Tan Sri Roslan Saad as its independent non-executive chairman.</p>


Boustead Heavy Industries names ex-air force chief as chairman

<p>Bird's nest processor MyMBN Bhd (KL:MBN) said the government has imposed a temporary suspension on the export of bird's nest products to China following the discovery of the Newcastle disease in Malaysia.</p>


MyMBN says bird's nest exports to China suspended due to Newcastle disease

<p>Elon Musk’s deputy Steve Davis has spent more than 20 years helping the billionaire cut costs at businesses like SpaceX, the Boring Company and Twitter — making the engineer by training a natural choice for his new role at Musk’s Department of Government Efficiency, or DOGE for short.</p>


Elon Musk’s go-to cost-cutter is working for DOGE 

<p>Jinjiang Group, a contractor for Chinese electric vehicle (EV) maker BYD, said on Thursday Brazilian authorities' portrayal of their employees as "enslaved" was inconsistent with the facts and that there were translation misunderstandings.</p>


BYD contractor denies its construction site employees 'enslaved'

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


<p>CCK Consolidated Holdings Bhd (KL:CCK), a retail chain store and supermarket operator in Sabah and Sarawak, has declared its first-ever special dividend of five sen per share for the financial year ending Dec 31, 2024 (FY2024), payable Jan 22, 2025.</p>


CCK Consolidated declares first-ever special dividend of five sen

<p>YTL Power International Bhd (KL:YTLPOWR) said on Thursday that the Employees Provident Fund (EPF) has once again ceased to be a substantial shareholder in the multi-utility owner and operator after offloading 14.93 million shares.&nbsp;</p>


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


EVENING 5: Five things you need to know today

<p>Teck Guan Perdana Bhd (KL:TECGUAN) said its third quarter net profit fell 34.3% to RM2.39 million from RM3.64 million a year ago, on lower revenue and a net loss on forward currency contracts amounting to RM4.33 million.</p>


Teck Guan's 3Q net profit falls 34% on lower revenue, loss on forward currency contracts

<p>Pan Merchant Bhd, a manufacturer of filters for solid liquid filtration and a provider of steel works and technical support services, is looking to raise capital from a planned initial public offering (IPO) on the ACE Market of Bursa Malaysia to expand its manufacturing plants, product development, business expansion and for working capital.</p>


Pan Merchant files draft prospectus for ACE Market listing

<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.</p>


FBM KLCI rises 0.67% to 1,613.70 on Dec 26, 2024

<p>Kawan Renergy Bhd co-founder and managing director Lim Thou Lai has pared his stake in the ACE Market-listed engineering services firm to 67.03%.</p>


Kawan Renergy MD Lim Thou Lai trims stake to 67%

<p>China revised upwards on Thursday the size of its economy by 2.7%, but said the change would have little impact on growth this year, as policymakers pledged more stimulus to spur expansion in 2025.</p>


China revises up 2023 GDP, sees little impact on 2024 growth

<p>An Indonesian woman has applied for leave from the Federal Court to appeal against&nbsp;the Court of Appeal's (COA) decision, which dismissed her appeal seeking a court declaration that her second son is a Malaysian citizen.</p>


Indonesian woman seeks leave to appeal against COA decision, wants son declared M'sian

<p>Japan’s financial regulator ordered AEON Bank Ltd&nbsp;to fix its anti-money laundering system, saying it failed to detect and report suspicious activities by clients.</p>


Japan's regulator orders AEON Bank to fix money laundering gaps

<p>Finnish authorities said they had boarded and taken control on Thursday of an oil tanker travelling from Russia, on suspicion it had caused the outage on Wednesday of an undersea power cable and three internet lines connecting Finland and Estonia.</p>


<p>Taghill Holdings Bhd (KL:TAGHILL), formerly known as Siab Holdings Bhd, said on Thursday that its wholly owned unit has received an adjudication claim from its subcontractor, seeking to recover an outstanding amount of RM2.59 million.</p>


Taghill unit faces adjudication claim from subcontractor

<p>Russia rebuffed incoming US President Donald Trump’s call for an immediate ceasefire in Ukraine, while saying it’s ready to hold negotiations on a long-lasting peace agreement to end almost three years of war.</p>
