<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 18): Matrix Concepts Holdings Bhd (KL:MATRIX) announced that Datuk Hon Choon Kim has resigned as its independent and non-executive director, effective immediately.</p></div>

<div class=newsTextDataWrapInner><p>Hon's resignation comes as he reaches the maximum nine-year tenure allowed as the group's independent director since he was appointed in 2015, according to the property developer's stock exchange filing on Tuesday (June 18).</p></div>

<div class=newsTextDataWrapInner><p>Following Hon’s resignation, he also ceased to be the chairman of the group's remuneration committee and a member of its nomination and audit committees.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The 76-year-old currently has a 0.06% stake in Matrix Concepts.</p></div>

<div class=newsTextDataWrapInner><p>Hon started his career in the government’s statistical department in 1977. He was later elected as a state assemblyman and appointed as a state executive councillor of Negeri Sembilan.</p></div>

<div class=newsTextDataWrapInner><p>In 1995, he was elected into Parliament and then appointed as the deputy education minister from 1999 to 2008.</p></div>

<div class=newsTextDataWrapInner><p>Matrix Concepts closed unchanged at RM1.80 on Tuesday, giving the group a market capitalisation of RM2.25 billion.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/article/matrix-announces-board-room-changes" target="_blank">Matrix announces board room changes</a></em></p></div>


Matrix Concepts Holdings Bhd (KL:MATRIX) announced that Datuk Hon Choon Kim has resigned as its independent and non-executive director, effective immediately.

Hon Choon Kim steps down as Matrix Concepts independent director after nine years

HeiTech Padu Bhd (KL:HTPADU) is acquiring a 30% stake in a privately held company linked to Mirzan Mahathir for RM16.17 million.

HeiTech Padu buys 30% stake in Islamic payment gateway owner Souqa Fintech for RM16.17m

A member of the Siemens family dynasty is embroiled in a bitter London divorce case, with his wife accusing him of avoiding child payments despite living a lavish lifestyle.

Siemens family scion in bitter London divorce dispute with wife

Commerzbank AG chief executive officer-designate Bettina Orlopp laid out her strategy to UniCredit SpA’s top leadership in their first substantive meeting since the Italian lender took a large stake.
 
Orlopp explained in a virtual meeting on Friday how she intends to boost the performance of the lender, which on Thursday raised profitability and payout targets, people familiar with the matter said.

Commerzbank’s Orlopp lays out goals in first meeting with Orcel

Here is a brief recap of some corporate announcements that made the news on Friday:

Affin Bank, Gamuda, HeiTech Padu, Bintai Kinden, Kim Loong, Propel Global, Crescendo, PT Resources, Astino, Signature International, Talam Transform, Citaglobal

As Malaysia continues to attract investors, Digital Minister Gobind Singh Deo is confident that the digital economy will meet, or even exceed, the projected 25.5% contribution to Malaysia’s gross domestic product (GDP) by the end of 2025.

Digital economy to meet or exceed projected 25.5% contribution to GDP by end-2025 — Gobind

Property developer Talam Transform Bhd (KL:TALAMT) has proposed to consolidate every five existing shares held by its shareholders into one share, with the entitlement date to be determined later.

Talam Transform plans five-to-one share consolidation, capital reduction and private placement

US consumer spending increased slightly less than expected in August, suggesting some moderation in economic growth in the third quarter, while the annual rise in prices was the smallest in just over 3-1/2 years.

US consumer spending, inflation rise moderately in August 

US main stock indexes inched up on Friday and small-cap stocks outperformed after a benign inflation report cleared the way for the Federal Reserve to focus on shoring up the labour market while continuing its interest rate easing.

Wall Street edges higher after inflation report; small caps outperform

Citaglobal Bhd (KL:CITAGLB) has entered into a binding term sheet with Germany’s LAWI Engineering GmbH (LAWI Germany) to collaborate exclusively on providing advanced waste-to-energy (WTE) technology and engineering solutions for waste management projects identified by Citaglobal and its affiliates.

Citaglobal inks waste-to-energy partnership with LAWI Germany, eyes listed entity in five years

The European Union’s (EU) biggest banks have spent years quietly creating a new way to pay that could finally allow customers to ditch their Visa Inc and Mastercard Inc cards — the latest sign that the region is looking to dislodge two of the most valuable financial firms on the planet.

EU banks launch Wero payments to dislodge Visa, Mastercard

<p>Crescendo Corporation Bhd’s (KL:CRESNDO) net profit for the second quarter ended July 31, 2024 (2QFY2025) surged more than 30-fold year-on-year (y-o-y), boosted by its data centre-linked land sales in Nusa Cemerlang Industrial Park (NCIP), Johor.</p>


Crescendo set to hit record-breaking FY2025 results as 2Q profit surges over 30-fold on data centre-linked land sales

<p>Here is a brief recap of some corporate announcements that made the news on Friday:</p>


<p>The European Union’s (EU) biggest banks have spent years quietly creating a new way to pay that could finally allow customers to ditch their Visa Inc and Mastercard Inc cards — the latest sign that the region is looking to dislodge two of the most valuable financial firms on the planet.</p>


<p>Malaysia’s gaming industry is positioned for an increase in foreign investment, especially from Japan, according to the Malaysia Digital Economy Corporation (MDEC).</p>

<p>MDEC said this was due to lower business costs, a skilled talent pool, a robust network of Malaysian studios, and strong government support.</p>


Malaysia’s gaming industry set to attract investments from Japan

<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>Signature International Bhd (KL:SIGN) plans to transfer its ownership in the two subsidiaries it wants to spin off for a listing into a newly formed entity, Signature Alliance Group Bhd (SAG), and then offer 26% of SAG's enlarged share base to the public via an initial public offering.</p>


Signature to transfer two subsidiaries into new entity ahead of ACE Market IPO

<p>Mechanical and electrical (M&amp;E) services specialist Bintai Kinden Corp Bhd (KL:BINTAI) is doubling down on its construction division as part of its proposed regularisation plan to uplift the company from its Practice Note 17 (PN17) status.</p>


Bintai Kinden doubles down on construction business to exit PN17

<p>A member of the Siemens family dynasty is embroiled in a bitter London divorce case, with his wife accusing him of avoiding child payments despite living a lavish lifestyle.</p>


<p>HeiTech Padu Bhd (KL:HTPADU) is acquiring a 30% stake in a privately held company linked to Mirzan Mahathir for RM16.17 million.</p>


<p>Frozen seafood supplier PT Resources Holdings Bhd’s (KL:PTRB) partnership with China’s Ocean Exchange (Fujian) Foreign Trade Services Co Ltd (Ocean Exchange) to develop the Malaysia East Coast International Supply Chain Intelligent Park in Kuantan, Pahang has fallen through.</p>


PT Resources’s planned RM1 bil supply chain intelligent park in Kuantan called off

<p>US consumer spending increased slightly less than expected in August, suggesting some moderation in economic growth in the third quarter, while the annual rise in prices was the smallest in just over 3-1/2 years.</p>


<p>Citaglobal Bhd (KL:CITAGLB) has entered into a binding term sheet with Germany’s LAWI Engineering GmbH (LAWI Germany) to collaborate exclusively on providing advanced waste-to-energy (WTE) technology and engineering solutions for waste management projects identified by Citaglobal and its affiliates.</p>


<p>Property developer Talam Transform Bhd (KL:TALAMT) has proposed to consolidate every five existing shares held by its shareholders into one share, with the entitlement date to be determined later.</p>


<p>The toll collection for Section 1 of the West Coast Expressway (WCE), which connects the Banting Interchange to the South Klang Valley Expressway (SKVE) Interchange, will commence next Monday (Sept 30), according to WCE Holdings Bhd (KL:WCEHB).&nbsp;</p>


Toll collection on Section 1 of WCE to commence on Sept 30 after month-long toll-free operation

<p>Assets held by exchange-traded funds in the US hit US$10 trillion (RM41.3 trillion) for the first time as the investor-friendly products continue their relentless takeover of Wall Street.</p>


Wall Street’s ETF assets hit US$10 tril milestone

<p>The European Union will take steps to exclude Chinese manufactured hydrogen electrolysers from an upcoming auction aimed at spurring the production of the fuel during the bloc’s green transition.</p>


EU aims to block Chinese hydrogen tech in new auction rules

<p>Plantation company Kim Loong Resources Bhd (KL:KMLOONG) reported an 8.9% decline in its second quarter net profit from a year earlier, no thanks to lower earnings contribution by its palm oil milling operations due to lower crude palm oil (CPO) extraction rates.</p>


Kim Loong’s 2Q net profit dips 8.9% on lower CPO extraction rates

<p>The ringgit is expected to continue strengthening, supported by the government's ongoing efforts to enhance economic activity and attract investments into the country.</p>


Ringgit expected to remain strong, driven by economic growth, says Amir Hamzah

<p>The Sultan of Selangor Sultan Sharafuddin Idris Shah has once again expressed his disappointment over the abuse and neglect of children linked to GISB Holdings Sdn Bhd (GISB).</p>

<p>Through a post on the Facebook of the Royal Selangor Office, His Royal Highness said it shows that GISB does not understand that children have rights that need to be respected and treated with respect.</p>


Sultan of Selangor reiterates disappointment with abuse of children linked to GISB

<p>A tepid response from shoppers to the iPhone 16 has not dented investors’ enthusiasm for Apple Inc shares, which enjoyed a multi-month rally in anticipation of the launch.<br />
&nbsp;&nbsp;<br />
The model went on sale this month, though the highly touted artificial intelligence (AI) tools won’t arrive as software updates until October.</p>
