<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 10): Sunway Bhd’s (KL:<a href="/askedge/klse/5211" class="ce-stock" target="_blank">SUNWAY</a>) unit Sunway Developments Pte Ltd (SDPL), together with Hoi Hup Realty Pte Ltd, have been awarded a parcel of land by the Housing and Development Board of Singapore.</p></div>

<div class=newsTextDataWrapInner><p>This was after the duo’s successful joint tender for the land.</p></div>

<div class=newsTextDataWrapInner><p>The leasehold land, measuring 23,512 square metres at Tampines, will be used for a mixed commercial and residential development at S$668.28 million (RM2.19 billion).</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Hoi Hup and SDPL will incorporate a joint venture company, in which Hoi Hup or its nominee companies, and SDPL, shall have equity interest in the proportion of 65:35 at a later date, to undertake the development of the land.</p></div>

<div class=newsTextDataWrapInner><p>Hoi Hup is a company incorporated in Singapore, with its principal activity being real estate development.</p></div>

<div class=newsTextDataWrapInner><p>The completion period of the proposed project shall be in 84 months, commencing from Oct 10, 2024.</p></div>

<div class=newsTextDataWrapInner><p>It is expected to contribute positively to the group’s earnings from the financial year ending Dec 31, 2026 (FY2026) onwards.</p></div>

<div class=newsTextDataWrapInner><p>Sunway’s share price closed unchanged at RM4.27 on Thursday, bringing the group a market capitalisation of RM24.47 billion.&nbsp;</p></div>


KUALA LUMPUR (Oct 10): Sunway Bhd’s (KL:SUNWAY) unit Sunway Developments Pte Ltd (SDPL), together with Hoi Hup Realty Pte Ltd, have been awarded a parcel of land by the Housing and Development Board of Singapore.

Sunway to jointly develop Singapore land for mixed-use development worth S$668.28 mil

Caterpillar Inc posted a third-quarter (3Q) profit that missed analysts’ expectations as the machinery producer grappled with weakening demand in construction around the world.

The US maker of iconic yellow industrial machines reported adjusted per-share earnings of US$5.17 (RM22.59) on Wednesday, missing the US$5.34 average estimate of analysts polled by Bloomberg.

Caterpillar misses 3Q estimates on weakening construction worldwide

JOHOR BAHRU (Oct 30): GISB Holdings Sdn Bhd (GISB) chief executive officer (CEO) Datuk Nasiruddin Mohd Ali and his wife Azura Md Yusof, charged with involvement in an organised crime group, have filed a habeas corpus application seeking immediate release.

GISB CEO, wife apply for court hearing to seek immediate release

Shake Shack Inc quarterly sales beat Wall Street estimates as the burger chain said a new workforce model had raised its labour sales per hour to the highest level since 2019.

Same-store sales grew 4.4% in the three months ended Sept 25, topping analyst estimates for 3.6%, and above 2.3% growth in the same period last year.

Shake Shack shares rise after chain cuts customer wait times

Britain's new finance minister Rachel Reeves announced the biggest tax increases in three decades in her first budget, as she accused the Conservatives of leaving public services broken when they lost July's election after 14 years in power.

UK's Reeves raises taxes by most since 1993 in first Labour budget

AME Elite Consortium Bhd (KL:AME) is working together with Kuala Lumpur Kepong Bhd (KL:KLK) in a joint venture (JV) to develop a new industrial park in Ijok, Selangor. 

The collaboration marks KLK’s inaugural venture into industrial property development and represents an expansion for AME Elite outside of Johor and Penang, where it is a major industrial property developer.

AME Elite, KLK to jointly develop industrial park in Ijok

Sapura Resources MD Shahriman Shamsuddin quits having been on garden leave since Sept 11

Testimonies of witnesses about the verbal communications they had had with certain key players in the 1MDB-Tanore case, which the defence had slammed as hearsay, can be accepted as evidence as they met conditions that allow for such exceptions to the hearsay rule, said the judge hearing the case who on Wednesday ordered that Datuk Seri Najib Razak enter his defence in the suit.

Exceptions to hearsay rule allow testimonies about missing 1MDB players be admitted as evidence, says judge

Senai Airport City Sdn Bhd (SACSB), a member of MMC Group, is selling approximately 15.06 acres of industrial land located in the Senai Airport City Free Industrial Zone in Johor to Taiwan-based Chenbro Micom Co Ltd.

Senai Airport City master developer sells 15 acres of industrial land to Taiwan-based Chenbro Micom

Plantation group FGV Holdings Bhd (KL:FGV) has approved a loan of RM260 million to its 72%-owned subsidiary FGV Palm Industries Sdn Bhd (FGVPI) to finance FGVPI’s capital expenditure requirements.

FGV grants RM260m loan to unit for capital expenditure

Hiring at US companies accelerated by the most in more than a year, pointing to surprisingly solid demand for workers.

US hiring in ADP data rises to fastest pace in more than a year

<p>The High Court on Wednesday ordered former prime minister Datuk Seri Najib Razak to enter his defence against all four abuse of power and 21 money-laundering charges for allegedly receiving gratifications worth RM2.27 billion in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial.</p>


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<p>KUALA LUMPUR (Oct 30): IJM Land Bhd’s chief executive officer (CEO) Datuk Wong Tuck Wai is retiring after a 28-month stint at the property division of conglomerate IJM Corp Bhd (KL:IJM),&nbsp;internal communication showed.</p>


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<p>(Oct 30): Malaysia’s currency is on course for its worst month in more than nine years, as investors scale back on risk assets amid concerns over the US election.</p>


Ringgit set for biggest monthly decline since 2015 — analysts

<p>KUALA LUMPUR (Oct 30): Stock exchange operator Bursa Malaysia Bhd (KL:BURSA) reported its highest quarterly net profit in three years, thanks to higher income across its business segments, including the securities and derivatives market.&nbsp;</p>


Bursa Malaysia’s net profit surges to three-year high in 3QFY2024

<p>Former prime minister Datuk Seri Najib Razak's wife Datin Seri Rosmah Mansor and their eldest son Datuk Mohamad Nizar Mohamad Najib arrived at the Kuala Lumpur Courts Complex at 9.33am on Wednesday.</p>


Rosmah, son Nizar arrive at court to show support for Najib

<p>Below is the summary of key findings at the end of the prosecution’s case, written by trial judge Datuk Collin Lawrence Sequerah, and upon which, among others, he based his decision on Wednesday to call for the accused, former prime minister Datuk Seri Najib Razak, to enter his defence for four abuse of power and 21 money-laundering charges, for allegedly receiving gratifications worth RM2.27 billion in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial.</p>


1MDB-Tanore: Judge’s summary of key findings that led to decision to call the defence

<p>TOWARDS the end of the European trading day on Oct 15, Dutch chip equipment giant ASML Holding NV, which has a monopoly on making machines and tools for manufacturing the most advanced chips, like those used to train large language artificial intelligence (AI) models, inadvertently revealed its t...

Tech: Chip equipment giant ASML poised to bounce back 

<p>The West Ipoh Span Expressway, to span 60.88km from Gopeng to Kuala Kangsar, is now estimated to cost RM6.2 billion instead of RM5.75 billion, according to the project's concessionaire, East Coast Road Sdn Bhd (ECRSB).</p>


West Ipoh Span Expressway now estimated to cost RM6.2 bil, says concessionaire

<p>Main Market-bound Life Water Bhd could see a 16.9% rise above its initial public offering (IPO) price of 65 sen apiece, according to Public Investment Bank (PublicInvest).</p>


Life Water shares worth 16.9% more than IPO price — PublicInvest

<p>FGV Holdings Bhd (KL:FGV) has appointed Fakhrunniam Othman as group chief executive officer (CEO) of the plantation group effective Nov 1.</p>


FGV names Fakhrunniam Othman as new group CEO

<p>Prominent lawyer Tan Sri Muhammad Shafee Abdullah claimed that his client Datuk Seri Najib Razak’s public apology last week for the 1Malaysia Development Bhd (1MDB) debacle had been purposely misinterpreted by certain political quarters.</p>

<p>Speaking at a press conference at the Duta Court Complex here, Shafee said that politicians on “the other side” had misinterpreted Najib’s apology. He clarified that the former PM had only apologised for the 1MDB debacle happening during his tenure, and nothing else.</p>


Shafee: Najib’s apology deliberately misinterpreted by politicians

<p>KUALA LUMPUR (Oct 30): The High Court on Wednesday reinstated the legal action by Cekap Urus Sdn Bhd against Spanco Sdn Bhd and the government, over the government fleet car project.</p>


Vincent Tan-controlled Cekap Urus resumes action against govt and Spanco over fleet car project

<p>KUALA LUMPUR (Oct 30): YTL Power International Bhd (KL:YTLPOWR) is “seeking legal advice regarding potential steps” against unnamed parties that it said are spreading accusations of misconduct by the company in the 1Bestarinet project currently under investigations.</p>


YTL Power mulls action over 1Bestarinet ‘accusations by irresponsible parties’, says ‘committed to transparency’ in MACC probe

<p>Clean energy specialist Solarvest Holdings Bhd (KL:SLVEST) said its 70%-owned subsidiary Setia Kawan Energy Sdn Bhd (SKESB) has been approved by Tenaga Nasional Bhd (TNB) (KL:TENAGA) to operate as a merchant generator to sell energy to the single buyer for a capacity of 29.99 megawatt (MW) to be located in Manjung, Perak.</p>


Solarvest's 70%-owned unit to operate as merchant generator under Neda

<p>Visa is planning to lay off about 1,400 employees and contractors by the end of the year, <em>The</em> <em>Wall Street Journal</em>&nbsp;(<em>WSJ</em>) reported on Tuesday, as the card giant looks to streamline its international business.</p>


Visa to lay off around 1,400 employees and contractors, WSJ reports

<p>KUALA LUMPUR (Oct 30): Shares of Unisem (M) Bhd (KL:UNISEM) fell on Wednesday, while analysts slashed their earnings forecasts, following weaker-than-expected quarterly results.&nbsp;</p>


Unisem shares fall, analysts slash estimates after underperforming 3Q

<p>KUALA LUMPUR (Oct 30): British American Tobacco (Malaysia) Bhd (BAT Malaysia)(KL:BAT) posted a 14.1% rise in its net profit for the third quarter ended Sept 30, 2024 (3QFY2024), as its operating expenses were significantly reduced by 28.9% year-on-year (y-o-y), given the group’s substantial investment in the launch of its vaping brand, Vuse, in Malaysia last year.</p>


BAT Malaysia’s 3Q net profit up 14%, pays 22 sen dividend

<p>There is ultimately no motive for the prosecution witnesses in the 1MDB-Tanore trial to frame Datuk Seri Najib Razak, who was at the time wielding enormous powers as prime minister and finance minister, said the High Court judge who ordered Najib to enter his defence against the abuse of power and money laundering charges he faces in the case.</p>


No motive for witnesses to frame Najib as it would be tantamount to suicide given his powers then, says judge

<p>Google parent Alphabet Inc&nbsp;showed on Tuesday that an expensive foray into artificial intelligence (AI) is starting to pay off, delivering better-than-expected traction for its cloud computing business and driving more usage for its flagship search engine.</p>


Alphabet’s pricey AI bet pays off with growth in cloud, search

<p>NEW YORK (Oct 29):&nbsp;A US bankruptcy judge on Tuesday approved Tupperware Brands’&nbsp;proposal to sell its assets to its lenders, clearing the company to exit bankruptcy with most of its operations intact.</p>
