<div class=newsTextDataWrapInner>KUALA LUMPUR (June 24): MBSB Bank Bhd said on Monday that it is working closely with authorities to resolve a case concerning illegal withdrawals in Kota Kinabalu.</div>

<div class=newsTextDataWrapInner>A thorough internal review initiated by the bank led to the commencement of a police investigation into the matter, said the Islamic bank in a statement on Monday.</div>

<div class=newsTextDataWrapInner>It said the incident involved a syndicate that colluded with certain staff members, who are currently in police custody, to carry out the illegal withdrawals authenticated through forged identity cards used by the syndicate.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>“Our priority is the security and trust of our customers. We are working closely with the authorities to ensure the perpetrators are brought to justice. We have refunded all monies illegally withdrawn from the affected customers’ accounts,” said MBSB.</div>

<div class=newsTextDataWrapInner>“MBSB Bank is committed to maintaining the integrity of banking security for all our customers and will continue to work with the police and relevant authorities to ensure that those involved face the full consequences of their actions,” the bank added.</div>

MBSB Bank Bhd said on Monday that it is working closely with authorities to resolve a case concerning illegal withdrawals in Kota Kinabalu.

A thorough internal review initiated by the bank led to the commencement of a police investigation into the matter, said the Islamic bank in a statement on Monday.

MBSB Bank says it's working with authorities to resolve illegal withdrawals case in Sabah

Tech and growth stocks dragged Wall Street's main indexes lower on Friday, at the end of an upbeat holiday-shortened week driven by expectations around a traditionally strong period for markets.

Wall Street falls as strong holiday-shortened week nears close

SCGM Bhd's (KL:SCGM) substantial shareholders are to inject their agriculture-related business into the cash company in return for RM207.94 million worth of shares as part of the company's regularisation plan.

SCGM formalises injection of agriculture business, proposes 25 sen special dividend 

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

ViTrox, Kim Loong Resources, Crescendo, JcbNext, OCB, Paragon Globe, Tropicana, Asia Poly, Nova MSC, PUC, SCGM

A mystery seller is asking US$200 million (RM893.43 million) for an empty waterfront lot next door to the properties Jeff Bezos bought in South Florida.

The roughly 1.84 acre lot (0.74 hectare) is located at Indian Creek, a man-made barrier island that’s been dubbed “Billionaire Bunker.” Ilya Reznik, who’s brokering the transaction, declined to identify the seller but said they are “willing to negotiate” on price.

Bezos’ Miami neighbour seeking US$200 mil for empty lot

Brazil’s annual inflation unexpectedly slowed in early December as energy costs dropped, giving central bankers limited relief as they pledge two more jumbo interest rate hikes by March.

Official data released on Friday showed consumer prices rose 4.71% from a year earlier, below the 4.83% median estimate in a Bloomberg survey of economists and the prior reading of 4.77%.

Brazil’s annual inflation unexpectedly slows, giving central bank limited respite

Vietnamese Prime Minister Pham Minh Chinh instructed the investment ministry and other authorities to work on development scenarios and measures that will enable the country to attain “double-digit” growth in gross domestic product next year.

Vietnam PM seeks steps for double-digit GDP growth next year

Shell has shut down one of its oil processing units at the Shell Energy and Chemicals Park on Singapore’s Pulau Bukom to facilitate an investigation into a suspected leak in the system.

Shell shuts down oil processing unit at Singapore's Pulau Bukom to probe leak

A Norwegian shipping company on Friday rejected an accusation from Dmitry Medvedev, deputy chairman of Russia's Security Council, that it refused to rescue sailors from a sinking Russian cargo ship in the Mediterranean Sea.

Norwegian shipping firm denies Moscow's claim it refused to help sinking Russian ship

OpenAI, founded a decade ago as a research organisation, is considering a change to the AI company’s structure that would create a more conventional money-making corporation alongside a non-profit arm.

OpenAI mulls plan for more conventional for-profit business 

Over 330 initial public offerings (IPOs), US$20 billion (RM89.34 billion) of proceeds and more than US$160 billion addition in country’s market value, sums up a bumper year for India that is set to further strengthen its position among top global destinations for capital raising.

Roaring debuts cap a bumper year for IPOs in India

Khazanah Nasional Bhd announced on Friday that it has invested in private equity Cambrian Fund and California-based artificial intelligence (AI) firm Syntiant Corp.

In a statement, the sovereign wealth fund said the investment was made through its RM1 billion Dana Impak fund, which aims to drive greater growth and innovation in Industrial Revolution 4.0 (IR4) technologies and capacity development, and boost research and development (R&amp;D) in AI and semiconductor technologies.

Khazanah announces investments into ViTrox-backed Cambrian Fund and AI firm Syntiant Corp

The government will not allow increases in electricity tariffs that would burden the majority of the public, said Prime Minister Datuk Seri Anwar Ibrahim.

Electricity tariff adjustment won’t burden majority, says PM

Crescendo Corporation Bhd (KL:CRESNDO) reported a more than fivefold increase in net profit for its third quarter, driven by data centre land sales in Nusa Cemerlang Industrial Park (NCIP) in Iskandar Puteri, Johor.

Data centre land sales lift Crescendo's 3Q net profit

Industrial services firm Swift Energy Technology Bhd's initial public offering (IPO) was oversubscribed by 58.09 times for the 50.04 million new shares offered to the public, the issuing house said on Friday.

Swift Energy's IPO shares for public oversubscribed by 58 times

No decision has been made regarding electricity tariff hikes in Peninsular Malaysia as of now, said Deputy Prime Minister Datuk Seri Fadillah Yusof.

No decision on electricity rate hike just yet — DPM Fadillah

Cocoaland Holdings Bhd co-founder Lau Pak Lam has ceased to be a substantial shareholder in PUC Bhd (KL:PUC) after disposing of 100 million shares or a 3.6% stake in the digital payment solutions provider via a direct business transaction on Dec 23.

PUC changes substantial shareholders

A man was whipped at a mosque in Terengganu on Friday for the Islamic crime of close proximity with a non-family member of the opposite sex, local media reported, in a rare public sentencing.

Man publicly whipped in Terengganu for Islamic crime of close proximity

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

Malaysia's Foreign Ministry through the Embassy of Malaysia in Stockholm, is in constant communication with the Norwegian authorities to gather more information regarding a bus accident near Lake Åsvatnet on Dec 26 which reportedly involved passengers from several countries including Malaysia.

Malaysia sends consular team following bus accident in Norway

The LED Fantasy Light Carnival held at the Bukit Gambir Multipurpose Hall has been ordered to cease immediately and has been fully shut down.

The Tangkak District Council (MDT), through a post on its Facebook page, announced that an investigation found the organisers had failed to comply with the conditions for holding the carnival, particularly in terms of its sensitivity to the local community.

Tangkak LED Fantasy Light Carnival shut down over Chinese flag on rocket

China’s Loong Air will launch a new direct flight from Xi’an to Penang from Dec&nbsp;30, marking a significant milestone in the growing tourism and aviation collaboration between Malaysia and China.

Xi’an-Penang direct flight from Dec 30 seen boosting M'sia-China tourism ties

Chinese national Huang YongKang has emerged as Asia Poly Holdings Bhd's (KL:ASIAPLY) second biggest shareholder after taking up the entire 95.85 million shares issued under a private placement.&nbsp;

The shares represent a 9.09% stake in the Klang-based cast acrylic sheets manufacturer.

Asia Poly sees emergence of new substantial shareholder

Loss-making OCB Bhd (KL:OCB) is to sell its loss-making and indebted wholly owned subsidiary Agrow Malaysia Sdn Bhd for RM3 million cash.

The purchaser, Tan Sim Lam, will also take over OCB’s role as the building materials unit’s guarantor of RM20.32 million debt as part of the deal, according to the consumer food and bedding maker’s bourse filing on Friday.

OCB to offload debt-laden building materials business

The staff involved in the Christmas celebration at the Ministry of Housing and Local Government (KPKT) in Putrajaya recently were mostly Christians.&nbsp;

Minister Nga Kor Ming said many of those who sang “Jingle Bells” were Kadazans&nbsp;from Sabah, apart from employees from Sarawak.

Nga says ministry's Christmas celebration involved mostly non-Muslims

Paragon Globe Bhd’s (KL:PGLOBE) shareholders have approved the Johor-based property developer’s various land deals as well as its joint development with a unit of Tropicana Corp Bhd (KL:TROP).

Paragon Globe shareholders greenlight deals on land, development rights with Tropicana unit

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

EVENING 5: Five things you need to know today

SCGM Bhd's (KL:SCGM) substantial shareholders are to inject their agriculture-related business into the cash company in return for RM207.94 million worth of shares as part of the company's regularisation plan.

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday.

FBM KLCI up to over one-month high of 1,628.14 on Dec 27, 2024

Kim Loong Resources Bhd (KL:KMLOONG) reported its highest ever quarterly net profit of RM49.96 million in its third quarter ended Oct 30, 2024 (3QFY2025), helped by higher average selling prices in both its plantation and palm oil milling divisions.

Kim Loong sees FFB slipping in FY2025 after posting record quarter in 3Q

German President Frank-Walter Steinmeier dissolved parliament and set the country’s snap election for Feb 23, formally endorsing a timetable proposed by Chancellor Olaf Scholz.