<div class=newsTextDataWrapInner><p>(July 12): Citigroup Inc, which hired Viswas Raghavan as its new head of banking earlier this year, has granted the executive shares worth about US$41 million (RM191.6 million) at their current value.</p></div>

<div class=newsTextDataWrapInner><p>Raghavan, 57, who reports directly to chief executive officer Jane Fraser, got about 623,838 shares, according to a filing. Citigroup’s stock closed at US$65.71 apiece on Thursday.</p></div>

<div class=newsTextDataWrapInner><p>The award is to replace compensation Raghavan gave up when he left JPMorgan Chase &amp; Co to join Citigroup, according to the filing. The award vests in six installments, from January 2026 through 2031. None of the award is eligible for immediate sale.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Fraser poached Raghavan as part of her broader revamp of the US lender. Citi shares have rallied 39% in the past year, mirroring gains at rivals like Bank of America Corp, Wells Fargo &amp; Co and JPMorgan.</p></div>

<div class=newsTextDataWrapInner><p>The <i>Financial Times</i> reported the stock award earlier.</p></div>

<div class=newsTextDataWrapInner><p><i>Uploaded by Magessan Varatharaja</i></p></div>


Citigroup Inc, which hired Viswas Raghavan as its new head of banking earlier this year, has granted the executive shares worth about US$41 million (RM191.6 million) at their current value.

Citigroup’s new banking chief Raghavan gets US$41m in stock

theedgemalaysia.com highlighted two stocks with negative momentum at Bursa Malaysia’s noon market break on Tuesday.

TSA, Warisan TC

UOA Development Bhd (KL:UOADEV) said on Tuesday its net profit slipped 4.4% year-on-year in the second quarter as higher expenses offset marginal increase in revenue.

UOA Development's 2Q net profit slips 4.4%, expects Bamboo Hills sales starting 3Q

JAKARTA (Aug 27): Indonesian banks will be required to publish a breakdown of their lending rates including margins, starting in October under a new regulation, as financial authorities look to increase industry competitiveness.

Indonesian banks required to publish breakdown of lending rates starting October 2024 — authority

A consortium led by utility construction and tower fabrication company Rohas Tecnic Bhd (KL:ROHAS) has won a RM123 million contract from Gamuda Bhd to provide fabrication and installation works under Package 2 of the Sg Rasau water treatment plant project in Selangor.

Rohas Tecnic-led consortium wins RM123m contract for Sg Rasau Package 2 project

RHB Bank Bhd (KL:RHBBANK), Malaysia’s fourth largest bank by assets, said on Tuesday that its net profit fell by 11% in the second quarter from a year earlier, dragged by provisions.

RHB Bank’s 2Q net profit down 11%, declares 15 sen dividend

PETALING JAYA (Aug 27): The Ministry of Investment, Trade, and Industry (Miti) is collaborating with the Ministry of Higher Education (MOHE) to ensure a ready skilled workforce to support the nation’s adoption of artificial intelligence (AI).

Zafrul: Miti partners MOHE on AI talent development, presents proposal to MOF for Budget 2025

FGV Holdings Bhd (KL:FGV) has returned to the black with a net profit of RM86.38 million in the second quarter ended June 30, 2024 (2QFY2024) compared with a net loss of RM12.9 million a year earlier, on higher profits in the plantation, and logistics and support divisions.

FGV returns to the black in 2Q, driven by plantation, logistics and support divisions

THE mutual decision by IJM Corp Bhd (KL:IJM) and Pestech International Bhd (KL:PESTECH) to call off their plans to have IJM purchase a 44.83% stake in engineering outfit Pestech will not result in any loss to the construction giant, according to analysts. Under the deal, IJM would have spent RM12...

No loss for IJM Corp in aborted Pestech deal

Former prime minister Tan Sri Muhyiddin Yassin’s sedition charge shows a clear failure by Pakatan Harapan (PH) and a betrayal of their previous promise to repeal the draconian law, said Lawyers for Liberty.

Muhyiddin's sedition charge betrayal of Pakatan Harapan's past promise — Lawyers for Liberty

Menang Corp (M) Bhd (KL:MENANG) announced a slew of boardroom changes on Tuesday, including the departure of its executive director Lee Min Huat, who owns 13.53% of the property development and management company, while appointing Datuk Abd Aziz Abu Bakar and Tan Pei Geok as independent directors.

Menang announces slew of boardroom changes, 4Q results improved on reversal of over-accrued liability

<p>Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest banks by assets, said on Tuesday its net profit rose 10% in the second quarter from a year earlier, thanks to higher net interest income and non-interest income.</p>


Public Bank's 2Q net profit rises 10%, declares 10 sen dividend

<p>Colin Huang’s reign as China’s richest person only lasted about two weeks.</p>

<p>A slump on Monday in shares in PDD Holdings Inc, the parent company of e-commerce giant Temu, sent Huang’s fortune tumbling by US$14.10 billion (RM61.42 billion), his biggest one-day loss ever. Huang is now the fourth-wealthiest person in China with a net worth of US$35.2 billion, according to the Bloomberg Billionaires Index.&nbsp;</p>


Temu owner’s founder loses spot as China’s richest person after 18 days

<p>Tan Sri Bashir Ahmad Abdul Majid, former managing director of Malaysia Airports Holdings Bhd or MAHB (KL:AIRPORT), is set to join the board of directors of Malaysia Aviation Group (MAG), the parent company of national carrier Malaysia Airlines Bhd, sources said.</p>


Former MAHB MD Bashir Ahmad said to be joining MAG board

<p>Asian stocks fell on Tuesday as investors pondered looming US&nbsp;interest rate cuts and awaited earnings from&nbsp;artificial intelligence (AI)&nbsp;darling Nvidia, while rising tensions in the&nbsp;Middle East&nbsp;and&nbsp;supply concerns&nbsp;checked risk sentiment and lifted oil prices.</p>


Asian stocks slide as geopolitical worries sap confidence

<p>Silverlake Axis on Monday announced that it is offering 36 Singapore cents (RM1.20) per share to its shareholders in a bid to take the company private.</p>


Silverlake founder teams up with Nazir Razak’s Ikhlas Capital to privatise Singapore-listed firm

<p>Shares of Ajinomoto (Malaysia) Bhd (KL:AJI) jumped on Tuesday, and may be headed for their&nbsp;best day in 17 months, as the seasoning company reported a surge in quarterly profits.</p>


Ajinomoto shares jump, on course for best day in 17 months after profit surge

<p>RHB Bank Bhd (KL:RHBBANK), Malaysia’s fourth largest bank by assets, said on Tuesday that its net profit fell by 11% in the second quarter from a year earlier, dragged by provisions.</p>


<p>Shares of Hong Leong Industries Bhd (KL:HLIND) surged on Tuesday to a new all-time high, thanks to record profits at the motorcycle assembler on the back of better margins and other one-off gains.</p>


Hong Leong Industries shares surge to new all-time high on record earnings

<p>Sime Darby Bhd (KL:SIME) closed the financial year ended June 30, 2024 (FY2024) on a strong footing, with its net profit more than doubling to RM3.31 billion from RM1.46 billion in the previous year. This was largely due to a RM2 billion gain from the disposal of Ramsay Sime Darby Health Care (RSDH) in December 2023.</p>


Sime Darby ends FY2024 on strong footing on disposal gain from Ramsay Sime Darby Health Care stake, declares 10 sen dividend

<p>KUALA LUMPUR (Aug 27): Former two-time prime minister Tun Mahathir Mohamad told the court on Tuesday that he is not embarrassed to admit that he has Indian ancestry, but that does not negate the fact that he is a Malay.</p>


Tun M not ashamed to admit he has Indian blood, says he is still Malay

<p>Former prime minister Tan Sri Muhyiddin Yassin claimed trial at the Sessions Court here on Tuesday after being charged with sedition over his speech during the Nenggiri state by-election campaign.</p>


Muhyiddin claims trial after being hit with sedition charge

<p>The Securities Commission Malaysia’s Audit Oversight Board (SC's AOB) has imposed fines of RM150,000 on Grant Thornton Malaysia PLT (GTM) and RM37,500&nbsp;on its audit partner Mohamad Heizrin Sukiman,&nbsp;for failure to comply with a key audit partner rotation requirement.</p>


SC's AOB fines audit firm and partner for breach of partner rotation requirement

<p>KUALA LUMPUR (Aug 27): Attorneys of former finance minister Tun Daim Zainuddin are asking the Sessions Court here to deny the prosecution’s request that their client undergoes a mental health evaluation to ascertain if he is fit to stand trial for his criminal case.</p>


Prosecution wants Daim to undergo mental health evaluation

<p>Malaysia’s GEAR-uP initiative will bolster corporate capital spending and support infrastructure development without adding financial strain to the government, said Moody’s Ratings.</p>


Malaysia's RM120b GEAR-uP programme bolsters capital spending without extra fiscal strain — Moody’s

<p>Inta Bina Group Bhd (KL:INTA) is set for stronger earnings growth this year thanks to new contracts, TA Securities said on Tuesday after the construction company reported better-than-expected results.</p>


Inta Bina set for stronger earnings this year as 2Q outperforms — TA Securities

<p>Catcha Digital Bhd (KL:CATCHA) is planning a special issue of up to 52 million new shares to Bumiputera investors to meet the Bumiputera equity requirement for public listed companies, following the implementation of its regularisation plan last year that involved the acquisition of iMedia Asia Sdn Bhd.</p>


Catcha Digital plans special issue to fulfil Bumiputera equity requirement

<p>A deluge of bizarre computer-generated images swept Elon Musk’s social platform X last week&nbsp;— including&nbsp;violent, offensive and sexually suggestive content. In one, Trump piloted&nbsp;a helicopter as the World Trade Center buildings burned in the background. In others, Kamala Harris wore a bikini, and Donald Duck used heroin. Amid&nbsp;the online furore, Musk posted, “Grok is the most fun AI in the world!”&nbsp;</p>


Elon Musk’s Grok is a risky experiment in AI content moderation

<p>KUALA LUMPUR (Aug 27): Ta Ann Holdings Bhd’s (KL:TAANN) recent first half of FY2024 (1HFY2024) results have fallen below expectations, but analysts maintained their stance on the stock due to attractive dividend yield and better outlook for the rest of the year.</p>


Ta Ann’s 1H2024 results fall short, but analysts keep stance on dividend yield and 2H outlook

<p>The "low-hiring, low-firing" approach that US&nbsp;businesses currently take to their employment decisions is unlikely to last, Richmond Federal Reserve (Fed) president Thomas Barkin said in newly released comments, citing the risk that firms could resort to layoffs if the economy weakens.</p>


US firms' 'low firing' approach may turn to more layoffs, Fed's Barkin tells BBG

<p>The outlook for Indonesia’s palm oil harvest has dimmed as dry weather and&nbsp;ageing trees&nbsp;crimp production in the world’s top grower, which will likely tighten global supply and keep prices elevated.</p>
