<div class=newsTextDataWrapInner><p>PUTRAJAYA (Oct 21): The freeze on foreign worker employment quota applications will continue until a date to be announced later.</p></div>

<div class=newsTextDataWrapInner><p>Home Minister Datuk Seri Saifuddin Nasution Ismail said this is because the total number of foreign workers in the country (as of Sept 15)&nbsp;is nearing the stipulated ceiling.</p></div>

<div class=newsTextDataWrapInner><p>He said the total number of foreign workers in the country is guided by the stipulation set by the Ministry of Economy under the 12th Malaysia Plan, which is 157% of&nbsp;the total workforce in the country.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"The government will study and reconsider the ruling on opening the quota for foreign worker employment.</p></div>

<div class=newsTextDataWrapInner><p>"As such, it is informed that the freeze on&nbsp;foreign worker employment quota applications is extended until a date to be announced later,” he said in a statement on Monday.</p></div>

<div class=newsTextDataWrapInner><p>Saifuddin&nbsp;said the Workforce Recalibration Programme 2.0 registration period had ended on Dec 31, 2023, and the government had no plans to implement the programme again in the future.</p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Tham Yek Lee</em></p></div>


The freeze on foreign worker employment quota applications will continue until a date to be announced later.

Home Minister Datuk Seri Saifuddin Nasution Ismail said this is because the total number of foreign workers in the country (as of Sept 15) is nearing the stipulated ceiling.

Freeze on foreign worker employment quota to continue — home minister

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

Gamuda, Bahvest, Globetronics, Teo Seng, Green Ocean, Ge-Shen

Starboard Value LP chief executive officer Jeffrey Smith said there has been at least US$20 billion (RM86 billion) in value destruction at drugmaker Pfizer Inc, which he admonished for failing to deliver on a pipeline of new potential blockbusters.

Starboard scolds Pfizer over US$20 bil value destruction

US stock indexes sagged on Tuesday as rising treasury yields impacted rate-sensitive sectors, while investors evaluated earnings to assess the health of American companies.

Wall Street tumbles as yields jump; Verizon slides

Pacific Investment Management Co (Pimco), one of the world’s largest asset managers, says investors have misplayed emerging markets by focusing too heavily on risky bonds.

Pimco says favouring world’s riskiest bonds is a loser’s game

Near-term global financial risks are contained, but monetary policy easing could fuel asset price bubbles and markets might be underestimating risks posed by military conflicts and impending elections, the International Monetary Fund said on Tuesday.

Global markets might be underestimating geopolitical risks, IMF says

The FBI is investigating the public disclosure of a pair of highly classified intelligence documents describing Israel's preparations for a retaliatory strike on Iran, the bureau said on Tuesday.

FBI probing leak of US intel on Israel's attack plans for Iran

Shell said on Tuesday that most of the oil leak from a land-based pipeline at Shell Energy and Chemicals Park Singapore on Bukom island had been cleaned up, with only small patches of light sheens around the island and Bukom Kechil remaining.

Shell says most oil around Bukom, Singapore cleaned up after leak

Globetronics Technology Bhd (KL:GTRONIC) said its chief executive officer (CEO) Heng Charng Yee and executive director Kang Wei Luen have resigned from their positions.

Both of them cited personal matters and other commitment as the reason for the resignation, according to the group's filings with Bursa Malaysia on Tuesday.

Globetronics announces resignation of CEO, executive director

A Member of Parliament (MP) called on the government to clarify its proposal for compulsory Employees Provident Fund (EPF) contribution by foreign workers as announced in Budget 2025.

MP asks govt to clarify mandatory foreign worker EPF contribution proposal 

Willowglen MSC Bhd (KL:WILLOW) said on Tuesday that it has been awarded a RM16.43 million contract to supply security systems in Singapore.

Willowglen MSC wins RM16.4m security systems contract in Singapore

<p>Gamuda Bhd (KL:GAMUDA) and its joint-venture (JV) partners have been awarded a RM4.3 billion main design and build contract by the Department of Rapid Transit Systems, New Taipei City Government, to deliver the Xizhi Donghu Mass Rapid Transit (MRT) in Taiwan.</p>


Gamuda JV wins RM4.3 bil MRT job in Taiwan

<p>The appointment of Datin Nooryana Najwa Najib, daughter of jailed former prime minister Datuk Seri Najib Razak, as a director of the Malaysia External Trade Development Corporation (Matrade) needs some explaining.</p>


Frankly Speaking: Has Nooryana done anything to deserve Matrade appointment?

<p>HSBC Holdings merged some operations and split its geographic footprint into East and West in a sweeping restructuring under new CEO Georges Elhedery that includes the appointment of the bank's first female finance chief.</p>


HSBC splits East and West in major revamp and appoints first female finance chief

<p>Bagan Member of Parliament Lim Guan Eng called for an increase in the corporate income tax threshold to alleviate the burden on small and medium enterprises (SMEs) following the implementation of the new minimum wage of RM1,700.</p>


Guan Eng calls for higher corporate tax threshold following minimum wage hike

<p>Prime Minister Datuk Seri Anwar Ibrahim said the merger of Bank Pembangunan Malaysia Bhd (PBMB), Exim Bank&nbsp;and SME Bank is still in progress, and&nbsp;the focus on small and medium enterprises (SMEs) will continue.</p>


Merger of BPMB, Exim Bank and SME Bank still ongoing, says Anwar

<p>Prime Minister Datuk Seri Anwar Ibrahim defended&nbsp;the&nbsp;political appointees&nbsp;in government-linked companies (GLCs) and government-linked investment companies (GLICs) made under the unity government, saying they are all professionals.</p>


Appointees in GLICs and GLCs are professionals — PM

<p>The US is paying close attention to the ‘dark fleet’ of tankers carrying restricted oil and doing ship-to-ship transfers in Southeast Asian waters, the State Department’s top energy official said.</p>

<p>Countries in the region need to consider the risks these activities pose, Geoffrey Pyatt, an&nbsp;assistant secretary for energy resources, said on the sidelines of the Singapore International Energy Week conference.&nbsp;</p>


US watching 'dark fleet' ship-to-ship oil transfers in Asian waters

<p>CelcomDigi Bhd (KL:CDB) CEO Datuk Idham Nawawi plainly admits that the group prefers to lead the second 5G network rather than take over the existing 5G network under state-owned Digital Nasional Bhd (DNB) when Malaysia transitions to a dual network model for 5G versus a single wholesale network ...

Why CelcomDigi prefers to lead second 5G network

<p>Lee Hsien Yang, the youngest son of the late founder of modern Singapore Lee Kuan Yew, said on Tuesday he is now a political refugee, in the latest twist in a high-profile feud in the city-state's most famous family.</p>


Lee Kuan Yew's youngest son says he is now a political refugee as family spat snowballs

<p>Bank Negara Malaysia (BNM) will stay on its toes against risks of faster than expected inflation in 2025 as the government embarks on subsidy rationalisation and raising taxes, said DBS Bank.</p>


BNM to stay on high alert for inflation risk in 2025 as subsidy retargeting looms, DBS warns

<p>Teo Seng Capital Bhd (KL:TEOSENG), whose share price soared to an all-time high of RM2.60 on Monday, proposes a one-for-one bonus issue of up to 300 million shares to reward shareholders.</p>


Teo Seng proposes one-for-one bonus issue as share price reaches new peak

<p>Datuk Azman Ismail, former managing director and chief executive officer of PLUS Malaysia Bhd, has been appointed as CEO of Digital Nasional Bhd (DNB).</p>

<p>This confirms <em>The Edge</em>’s report in September last year which named Azman as one of the frontrunners for the job to lead the Ministry of Finance-owned (MOF) special purpose vehicle tasked with the country’s 5G rollout.</p>


Former PLUS executive Azman Ismail named DNB CEO

<h3><span style="color:#d35400;">Genting Malaysia Bhd</span></h3>

<p>Target price: <strong>RM3.30 <span style="color:#27ae60;">BUY</span></strong></p>

<div class="mt-3 mb-5 embed-right imgw-300"><a class="mobx pb-5 embedimg-icon imgw-300" data-desc="" data-rel="ceolightbox" href="//myassets.th...

Brokers Digest: Local Equities - Genting Malaysia Bhd, Dayang Enterprise Holdings Bhd, Sarawak Oil Palms Bhd, Malayan Banking Bhd

<p>The Ministry of Plantation and Commodities on Tuesday proposed investing in new technologies and infrastructure to more efficiently convert wastes from palm oil production into biomass energy.</p>


Plantation Ministry proposes investing in new tech, infra for waste-to-energy production

<p>Bahvest Resources Bhd (KL:BAHVEST) said it had entered into an exclusive prospecting and contract of works agreement with Aurelius Borneo Mining Sdn Bhd, which is involved in gold mining.</p>


Bahvest signs exclusive gold mining agreement with substantial shareholder’s vehicle

<p>Globetronics Technology Bhd (KL:GTRONIC) said its chief executive officer (CEO) Heng Charng Yee and executive director Kang Wei Luen have resigned from their positions.</p>

<p>Both of them cited personal matters and other commitment as the reason for the resignation, according to the group's filings with Bursa Malaysia on Tuesday.</p>


<p>Shenzhen-listed Kedali Industry Co Ltd said on Monday that it will invest 600 million yuan (RM364.5 million) to construct a lithium battery precision structural parts plant in Kedah.</p>


China-listed battery parts maker Kedali Industry to invest RM365m in Kedah

<p>ASML Holding NV CEO Christophe Fouquet expects pressure will grow from the US to further restrict sales of semiconductor technology to China, the biggest market for the Dutch producer of chipmaking machines.</p>


ASML chief sees US pressure building for more China restrictions

<p>The EY Entrepreneur of the Year (EOY) 2024 Malaysia awards has shortlisted a total of 13 nominees on Sept 26 in the Emerging, Technology, Woman and Master categories.</p>


Thirteen shortlisted for E&Y Entrepreneur of the Year award

<p>I have known Leslie Lopez since the early 1990s, when he was starting to make a name for himself as a business journalist. And he was a good journalist, tenacious and a good storyteller. Over the past 30 years, he has worked for international news organisations and, most importantly for a journal...