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<div class=newsTextDataWrapInner><p class="thumb-cap">EVENING 5: JS-SEZ pact to be inked in Sept</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>
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<div class=newsTextDataWrapInner><p>Dirty dealings. Corporate battles. Consumer woes. Here are five things you need to know today.</p></div>

<div class=newsTextDataWrapInner><p>1. <a href="https://theedgemalaysia.com/node/718439" target="_blank">Putrajaya expects the Johor-Singapore Special Economic Zone pact to be signed this September.</a></p></div>

<div class=newsTextDataWrapInner><p>2. <a href="https://theedgemalaysia.com/node/718442" target="_blank">The six federal lawmakers who were sacked by Bersatu have managed to retain their seats.</a></p></div>

<div class=newsTextDataWrapInner><p>3. <a href="https://theedgemalaysia.com/node/718418" target="_blank">The National Audit Department says HRD Corp invested in Widad whose stock is now tanking.</a></p></div>

<div class=newsTextDataWrapInner><p>4. <a href="https://theedgemalaysia.com/node/718415" target="_blank">UOB Kay Hian says a merger between MISC and Bumi Armada may be too difficult to pull off.</a></p></div>

<div class=newsTextDataWrapInner><p>5. <a href="https://theedgemalaysia.com/node/718450" target="_blank">The High Court allows the removal of UEM Genisys’ liquidators and appoints a new one.</a></p></div>


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

EVENING 5: Five things you need to know today

WCE Holdings Bhd (KL:WCEHB), the operator of the West Coast Expressway (WCE) project, has logged its fifth consecutive quarterly net loss, primarily due to interest expense incurred in relation to project financing for completed sections of the highway.

WCE Holdings posts fifth consecutive quarterly loss despite jump in toll collection

Wanita Umno has urged the party to start considering a reasonable political formula in Sabah as preparation for the state election, expected to be held by next year at the latest.

Umno wings highlight need for strategic unity, youth engagement

The number of Americans filing new applications for unemployment benefits ticked up in the latest week, but appeared to be steadying near a level consistent with a gradual cooling of the labour market that should set the stage for the Federal Reserve to kick off interest rate cuts next month.

US jobless claims, business activity keep economy on gradual cooling path

Rembia assemblyman Datuk Muhammad Jailani Khamis must provide proof that he joined PAS in 2023 before the upcoming state legislative assembly sitting in November, said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.

Rembia rep must prove PAS membership since 2023 — CM

Continuous heavy rain since 4pm on Thursday led to the collapse of a retaining wall at Taman Bunga Raya, Jalan Genting Klang near Kem Wardieburn, affecting a house in the area.

Heavy rain causes retaining wall to collapse in KL's Taman Bunga Raya

Low-cost airline Capital A Bhd said on Thursday that it has secured a US$443 million (RM1.9 billion) revenue bond to refinance AirAsia Bhd's (AAB) lease liabilities, cover aircraft and engine maintenance costs and support its working capital needs.

Capital A secures US$443m revenue bond to strengthen AirAsia fleet, financials

The S&P 500 and the Nasdaq rose in volatile trading on Thursday, as investors were more hopeful the Federal Reserve would kick off its interest rate cut cycle next month, while awaiting policymakers' commentary at Jackson Hole this week.

S&P, Nasdaq inch up on hopes of September rate cut; Jackson Hole in focus

Shares in BP plc fell to the lowest in close to two years as investors punish the company for shifting away from the oil and gas business.

BP shares fall to two-year low as investors spurn green shift

Canada’s two biggest railways shut down early Thursday after talks with union leaders failed, immediately blocking arteries of North American supply chains that carry about C$1 billion (RM3.22 million) per day in trade.

Canada Railways lock out union workers, snarling trade

7-Eleven Malaysia Holdings Bhd (KL:SEM) said its net profit increased 5.9% to RM20.49 million for the second quarter ended June 30, 2024 (2QFY2024), from RM19.35 million a year ago, supported by better revenue and lower administrative and other operating expenses.

7-Eleven Malaysia’s 2Q net profit up 6% on higher revenue, lower expenses

<p>The Securities Commission Malaysia (SC) is undertaking a review of practices by Malaysian public listed companies (PLCs) in managing the annual general meeting.</p>

<p>Executive chairman Datuk Mohammad Faiz Azmi said the review found that many general shareholder meetings are still being held in a fully virtual format both by the Main Board and ACE companies.</p>


SC asks public listed companies to transition back to holding physical, hybrid shareholder meetings

<p>Low-cost airline Capital A Bhd said on Thursday that it has secured a US$443 million (RM1.9 billion) revenue bond to refinance AirAsia Bhd's (AAB) lease liabilities, cover aircraft and engine maintenance costs and support its working capital needs.</p>


<p>While the implementation of e-invoicing has limited impact on automotive companies with an in-house vehicle financing arm, its impact on car&nbsp;sales will be significant, according to TA Securities in a note on Thursday.</p>


E-invoicing to dent car sales, with limited impact on auto firms with in-house financing — TA Securities

<p>Xiaomi Corp&nbsp;is willing to grow its nascent electric vehicle (EV) arm at the expense of profits for now, as it angles to join Tesla Inc&nbsp;and BYD Co&nbsp;among the world’s biggest automakers over the next decade or two.</p>


Xiaomi will swallow EV losses to join Tesla in the big leagues

<p>Oil-and-gas services firm Bumi Armada Bhd (KL:ARMADA) said on Thursday its net profit more than doubled in the second quarter from a year earlier, thanks to higher margins and contributions from&nbsp;<em>Armada Kraken FPSO</em>&nbsp;and&nbsp;<em>Armada Olombendo</em>.</p>


Bumi Armada's 2Q net profit more than doubles

<p>Malaysia’s international reserves continued to build up and expanded to the largest level in 16 months by mid-August, the central bank said on Thursday.</p>


BNM: Malaysia racks up largest foreign reserves in 16 months

<p>The government has fixed the system access charge (SAC) for renewable energy (RE) plants and power consumers wishing to deliver their own power through the national grid at 45 sen per kilowatt-hour (kWh).</p>


Govt mulls 45 sen/kWh charge for RE plants to access national grid via TPA

<p>Perikatan Nasional (PN) chairman&nbsp;Tan Sri Muhyiddin Yassin never had a sufficient&nbsp;number of statutory declarations (SDs) from members of Parliament (MPs)&nbsp;pledging support for him to become the prime minister after the 15th&nbsp;general election (GE15) in November 2022, according to Deputy Prime Minister&nbsp;Datuk Seri Dr Ahmad Zahid Hamidi.</p>


Muhyiddin never had enough SDs to become PM after GE15, says Zahid

<p>Cekap Urus Sdn Bhd, a joint venture between Berjaya Group and Naza Group, has filed a notice of discontinuance over its legal action against the Malaysian government, the Ministry of Finance (MOF) and Spanco Sdn Bhd for the termination of the company’s services in a vehicle fleet project for the government.</p>


Naza-Berjaya JV files notice of discontinuance over challenge of govt vehicle fleet project

<p>Eupe Corp Bhd (KL:EUPE) said on Thursday a piece of recently acquired land in Bangsar, Kuala Lumpur could yield a gross development value (GDV) of RM300 million.</p>


Eupe Corp sees Bangsar land yielding RM300 mil in GDV

<p>Hextar Retail Bhd (KL:HEXRTL) has entered into a strategic partnership with Hong Kong fast-casual dining group&nbsp;Tam Jai International Co Ltd (TJI) to introduce a noodle chain in Malaysia.</p>


Hextar Retail to introduce Hong Kong's Tam Jai noodle chain in Malaysia

<p>SD Guthrie Bhd (KL:SDG), the world's largest palm oil producer by acreage, said on Thursday its venture into renewable energy may begin to contribute to its earnings within the next two years. &nbsp;</p>


SD Guthrie expects renewable energy venture to contribute to earnings over next two years

<p>Minister of Investment, Trade and Industry Tengku Datuk Seri Zafrul Abdul Aziz said the collaboration with electric vehicle (EV) manufacturer Tesla is expected to drive Malaysia to be the main green technology hub in the region.</p>


Zafrul: Tesla has invested nearly RM60m in Malaysia, to further country’s green tech drive 

<p>Thailand became the first country in Asia to detect the new mutated strain of mpox virus, as the pathogen spreads to more geographies after the World Health Organization declared the outbreak in Africa a new global health emergency.</p>


Thailand confirms Asia’s first case of new mpox virus strain

<p>Construction firm Kerjaya Prospek Group Bhd's (KL:KERJAYA) unit is suing Apple 99 Development Sdn Bhd, a wholly owned subsidiary of Yong Tai Bhd (KL:YONGTAI), over an alleged failure to pay an outstanding contract sum of RM105.14 million.</p>


Kerjaya Prospek unit sues Yong Tai subsidiary over alleged unpaid sum of RM105 mil

<p>The property market is poised to strengthen in 2025 due to the potential of increased affordability, amid the proposed Madani Deposit initiative and related&nbsp;proposals in Budget 2025, said BIMB Securities.</p>


BIMB Securities sees stronger 2025 for developers, keeps 'overweight' sector rating

<p>Prime Minister Datuk Seri Anwar Ibrahim said it is best to let the issue concerning the extradition of Islamic preacher Dr Zakir Naik rest for a while, as long as he does not harm Malaysia-India relations.</p>


Anwar says would consider Zakir Naik’s extradition if India provides proof of extremism 

<p>Chinese regulators will likely impose a six-month business suspension on a big part of PricewaterhouseCoopers' auditing unit in mainland China, as a penalty for its work on troubled property developer Evergrande, according to five sources with knowledge of the matter.</p>


PwC China faces six-month business ban, large fine over Evergrande audit 

<p>Malaysia’s&nbsp;inflation remained steady in July against expectations for an uptick, with price increases led by restaurants, though key food items rose at a slower pace, official data showed on Thursday.</p>


Malaysia's consumer prices up 2% in July, matching June's pace — official data

<p>Chinese&nbsp;battery maker&nbsp;Gotion High-Tech Co&nbsp;Ltd (Gotion) is planning&nbsp;to set up&nbsp;a battery pack&nbsp;assembly plant in Malaysia to boost&nbsp;its presence in Southeast Asia, said its senior vice-president&nbsp;and Asia-Pacific&nbsp;business unit president&nbsp;Dr Qian Cheng.</p>
