<div class=newsTextDataWrapInner><p>(Oct 22):&nbsp;Petroliam Nasional Bhd (Petronas)&nbsp;is considering selling a minority stake in renewable energy firm Gentari Sdn Bhd&nbsp;to help expand the business, according to people with knowledge of the matter.</p></div>

<div class=newsTextDataWrapInner><p>The state-owned energy company is working with an adviser, and has drawn interest from infrastructure funds and industry peers, the people said, asking not to be identified as the process is private.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The stake could be worth US$300 million (RM1.30 billion) to US$500 million, the people said, though they added that considerations are preliminary, and the size of the sale and Gentari’s valuation are still under discussion.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Petronas may also decide not to sell, the people said. Petronas didn’t respond to requests for comment.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Petronas established Gentari in 2022, with the aim of delivering “a suite of renewable energy, hydrogen and green mobility solutions”, it said in a&nbsp;statement&nbsp;at the time. The unit has goals for the year 2030, including having 30 to 40 gigawatts (GW) of renewable energy capacity, developing hydrogen projects, and supporting electric-vehicle adoption. At the&nbsp;end of the first half&nbsp;of 2024, Gentari had 3.6 GW cumulative capacity, of which 2.4 GW was installed.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Tham Yek Lee</em></p></div>


Petroliam Nasional Bhd (Petronas) is considering selling a minority stake in renewable energy firm Gentari Sdn Bhd to help expand the business, according to people with knowledge of the matter.

The state-owned energy company is working with an adviser, and has drawn interest from infrastructure funds and industry peers, the people said, asking not to be identified as the process is private.

Petronas could sell minority stake in renewable energy unit Gentari to help expand business — Bloomberg

Chinese President Xi Jinping told Russia's Vladimir Putin that the international situation was gripped by chaos but that Beijing's strategic partnership with Moscow was a force for stability amid the most significant changes seen in a century.

Xi tells Putin the world is in chaos but friendship with Russia will endure

Taiwan Semiconductor Manufacturing Company notified the US a couple of weeks ago that one of its chips had been found in a Huawei device after a teardown by the tech research firm TechInsights, according to a person familiar with the matter.

TSMC told US of chip in Huawei device after TechInsights finding — Reuters 

Elon Musk’s US$1 million (Rm4.3 million) giveaway for voters who sign his free-speech and gun-rights petition falls into a gray area of election law, and legal experts are divided about whether the billionaire supporter of Donald Trump could be running afoul of prohibitions on paying people to register to vote.

Elon Musk's US$1m election giveaway tests limits of election law

The direction of European Central Bank (ECB) borrowing costs is clear but the pace at which they’ll be lowered is still to be decided, according to president Christine Lagarde, who didn’t rule out bigger moves.

Lagarde sees clear direction for ECB rates, pace to be decided

Options traders are increasing bets that Bitcoin will reach a record high of US$80,000 (RM344,025) by the end of November no matter who wins the US presidential election.
  
The implied volatility for Bitcoin options coming due around the Nov 5 election day is elevated, with the wagers skewed towards call options that give the buyer the right to buy the cryptocurrency at new highs.

Bitcoin options traders are betting on US$80,000 no matter who wins US election

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

<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>


Globetronics announces resignation of CEO, executive director

<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

<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>Taiwan Semiconductor Manufacturing Company notified the US a couple of weeks ago that one of its chips had been found in a Huawei device after a teardown by the tech research firm TechInsights, according to a person familiar with the matter.</p>


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


<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

<div class="ceonothumb mx-auto pb-5">
<div>
<div class="iframe-w100-wrapper"><iframe allowfullscreen="" frameborder="0" height="500" src="https://www.youtube.com/embed/zfl0P7l-hyw?si=EJn8MQBYV-CAV27h&amp;rel=0&amp;autoplay=1&amp;mute=1" width="840"></iframe></div>
</div>

<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>Beverage manufacturer Life Water Bhd said it will not be affected by the upcoming sugary drink&nbsp;tax increase, as its carbonated drinks have sugar contents below the taxable threshold, according to its executive director Chin Lee Ling.</p>


Main Market-bound Life Water sees no impact from imminent tax hike on sugary drinks

<p>Datuk Seri Wee Ka Siong, Ayer Hitam Member of Parliament, has called on the government to clarify whether the 2% tax on dividends will apply to all asset classes, including foreign investors.</p>


Ka Siong urges clarity on 2% dividend tax

<p>KUALA LUMPUR (Oct 22): Contract manufacturer Ge-Shen Corp Bhd (KL:GESHEN), whose share price has jumped over 200% year-to-date, has obtained shareholders’ approval to buy a 40% stake in electronic manufacturing services (EMS) firm Local Assembly Sdn Bhd for RM48 million, cash, and diversify its e...

Ge-Shen shareholders approve stake buy in EMS firm 

<p>Loss-making Green Ocean Corp Bhd (KL:GOCEAN) has proposed to undertake a RM92.5 million share capital reduction to wipe out the food and beverage (F&amp;B) distributor’s accumulated losses.</p>


Green Ocean proposes RM92.5m share capital reduction

<p>The Biden administration finalised rules for a 25% tax credit for semiconductor manufacturing projects, expanding eligibility for what is likely to be the largest incentive programme from the 2022 Chips and Science Act.</p>


US extends 25% semiconductor tax credit to chip and solar wafers

<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Tuesday.</p>


FBM KLCI down 0.19% to 1,642.54 on Oct 22, 2024

<p>Norway's US$1.8 trillion (RM7.8 trillion) sovereign wealth fund, the world's largest, posted a profit of 835 billion crowns&nbsp;(RM330.8 billion) in the third quarter as falling interest rates lifted stock markets, it said on Tuesday.</p>


Norway wealth fund posts US$76b profit in 3Q

<p>AirAsia became the first airline in Malaysia to adopt Combo Units, an advanced airport ground equipment that is more fuel efficient, at its main hub at the Kuala Lumpur International Airport (KLIA) Terminal 2 on Tuesday.</p>


AirAsia aims to reduce carbon emissions by 20,000 tonnes per year with new technology

<p>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.</p>


MP asks govt to clarify mandatory foreign worker EPF contribution proposal 

<p>Midvest Asia Sdn Bhd has ceased to be a substantial shareholder of Wasco Bhd (KL:WASCO), formerly known as Wah Seong Corp Bhd, after disposing of a 2.58% stake in the energy infrastructure group.</p>
