<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 7): FGV Holdings Bhd (KL:<a href="/askedge/klse/5222" class="ce-stock" target="_blank">FGV</a>) on Thursday said its indirect subsidiary FGV Bulkers Sdn Bhd is being sued for allegedly breaching an agreement for the supply of palm kernel shells.</p></div>

<div class=newsTextDataWrapInner><p>In a filing to Bursa Malaysia, the plantation giant said that the lawsuit was filed by South Asian International Distribution Sdn Bhd, seeking damages totalling RM90.84 million for losses incurred due to the alleged breach.</p></div>

<div class=newsTextDataWrapInner><p>FGV Bulkers is required to respond to the suit within 14 days, and a case management hearing is scheduled for Nov 20.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>FGV said FGV Bulkers is currently seeking legal advice and will make further announcements on any material development in the suit in due course.</p></div>

<div class=newsTextDataWrapInner><p>“The company does not expect that there will be any material operational and financial impact to FGV Bulkers and FGV from the suit for the financial year ending Dec 31, 2024,” FGV added.</p></div>

<div class=newsTextDataWrapInner><p>Shares of FGV closed up one sen or 0.88% at RM1.14 on Thursday, giving the group a market capitalisation of RM4.16 billion.</p></div>


FGV Holdings Bhd (KL:FGV) on Thursday said its indirect subsidiary FGV Bulkers Sdn Bhd is being sued for allegedly breaching an agreement for the supply of palm kernel shells.

FGV’s unit sued over alleged breach of supply agreement

JF Technology Bhd (KL:JFTECH) co-founder and managing director Datuk Foong Wei Kuong, who became the second-largest shareholder of Cosmos Technology International Bhd (KL:COSMOS) on Wednesday, said he intends to tap into the growing opportunities within Malaysia's water infrastructure sector.

JF Tech boss sees water infrastructure potential in Cosmos as he becomes second-largest shareholder

Qatar announced that all parties to Israel-Hamas war have agreed that the Gaza ceasefire will take effect at 8.30am local time on Sunday, a few hours earlier than had been anticipated.

Gaza ceasefire to start on Sunday, Qatari ministry says

Deutsche Lufthansa AG completed the acquisition of a minority stake in Italian carrier ITA Airways late on Friday after first making an offer for its competitor in January 2023.

Lufthansa finalises deal for 41% stake in Italy’s ITA Airways

Malaysia's economy is projected to grow at a moderate pace of 4.5% to 5.0% in 2025, benefiting from strong economic fundamentals and an uptick in foreign investments, Hong Leong Bank Bhd or HLB (KL:HLBANK) said.

HLB forecasts M'sian economic growth at moderate pace of 4.5% to 5% in 2025

A four-day road ban on goods vehicles will be enforced in conjunction with the Chinese New Year celebration to alleviate traffic congestion and minimise the risk of accidents.

MOT to enforce road ban on goods vehicles during Chinese New Year

Discussions are underway between the Malaysian Communications and Multimedia Commission (MCMC) and Microsoft, the owner of LinkedIn, regarding the licensing of the social media platform, said Communications Minister Fahmi Fadzil.

MCMC discussing LinkedIn licensing with platform owner Microsoft, says Fahmi

Social enterprises have a vital role to play in addressing societal challenges and giving back to the community. Focusing on sustainable solutions and ensuring social welfare, these organisations’ earnest efforts greatly benefit communities and the environment. City & Country speaks ...

Empowering community and shaping a sustainable environment

Long queues were spotted at Sports Toto Bhd's (KL:SPTOTO) outlets across Malaysia on Saturday, as eager punters lined up for a chance to strike it rich with the record-breaking RM100 million Supreme 6/58 jackpot.

Nationwide frenzy: Long queues at Sports Toto outlets as punters hope to win RM100m jackpot

Malaysia’s Energy Commission (EC) will conduct an open tender for the large-scale solar (LSS) Petra 5+ programme, offering opportunities to develop solar plants with capacities ranging from 10MW to 500MW, scheduled for operation in 2027.

Malaysia calls for second LSS5 bid, target 2GW

The US Federal Trade Commision (FTC) said on Friday it had approved a consent order to resolve antitrust issues concerning Chevron's US$53 billion (RM238.71 billion) takeover of Hess.

US FTC finalises consent order for US$53b Chevron-Hess merger

<p>Long queues were spotted at Sports Toto Bhd's (KL:SPTOTO) outlets across Malaysia on Saturday, as eager punters lined up for a chance to strike it rich with the record-breaking RM100 million Supreme 6/58 jackpot.</p>


<p>In a last-minute move by the Biden-Harris administration, a new Interim Final Rule on Artificial Intelligence Diffusion was announced on Monday (Jan 13), imposing stricter export controls on US-developed AI chips.</p>


Is Malaysia’s chip sector prepared for the storm?

<p>US President-elect Donald Trump’s policies risk stunting global growth and weakening demand for Malaysian chips, according to Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.</p>


US trade war threatens demand for Malaysian chips, says Zafrul

<p>Malaysia’s Energy Commission (EC) will conduct an open tender for the large-scale solar (LSS) Petra 5+ programme, offering opportunities to develop solar plants with capacities ranging from 10MW to 500MW, scheduled for operation in 2027.</p>


<p>TikTok said it will be forced to “go dark” in the US on Sunday unless there is a clear statement from the Biden administration to service providers that are maintaining its availability.</p>


TikTok says to ‘go dark’ in US on Sunday without White House clarity

<p>Intel Corp&nbsp;shares jumped as much as 9.5% on Friday morning after a report on a technology news site said the beleaguered chipmaker is an acquisition target.</p>


Intel shares jump on report it’s an acquisition target

<p>Prime Minister Datuk Seri Anwar Ibrahim’s visit to the UK has successfully attracted&nbsp;RM11 billion in potential investments across various sectors, including renewable energy and the digital economy.</p>


PM's UK visit attracts potential investments worth RM11b

<p>Outgoing Treasury Secretary Janet Yellen said her department will start taking special accounting manoeuvres as of Jan&nbsp;21 to avoid breaching the US debt limit, and urged lawmakers again to take steps to increase or suspend the statutory ceiling.</p>


US to take extraordinary steps to avert default, Yellen says

<p>Donald&nbsp;Trump's&nbsp;incoming US&nbsp;presidential administration plans to intensify immigration enforcement nationwide soon after he takes office on Monday, a person with knowledge of the plans said.</p>


Trump plans to intensify immigration enforcement soon after inauguration, Reuters reports

<p>MSCI's&nbsp;global&nbsp;equities index rose on Friday, while US&nbsp;Treasury yields turned higher with the dollar, as upbeat economic data and earnings appeared to help investors shrug off any jitters ahead of the US&nbsp;presidential inauguration.</p>


Global shares rise with dollar, US bond yields turn higher

<p>With US President-elect Donald Trump due to be sworn in on Monday, Jan&nbsp;20, Malaysia believes it can navigate any&nbsp;political or economic&nbsp;uncertainties arising from his second term in the White House.</p>


Malaysia confident of navigating possible challenges from Trump's presidency, says Anwar

<p>Malaysians abroad should not underestimate the technological advancement, expertise and talent available back home, said Prime Minister Datuk Seri Anwar Ibrahim.</p>


Don’t underestimate technological advancement and talent back home, says Anwar

<p>Chief Minister Chow Kon Yeow has denied recent claims in local media reports that the state government plans to increase hotel accommodation fees by up to 50% this year.</p>


Penang has no plans to raise hotel fees, says CM

<p>JF Technology Bhd (KL:JFTECH) co-founder and managing director Datuk Foong Wei Kuong, who became the second-largest shareholder of Cosmos Technology International Bhd (KL:COSMOS) on Wednesday, said he intends to tap into the growing opportunities within Malaysia's water infrastructure sector.</p>


<p>Bitcoin appears to be back on track towards record highs with the second presidential inauguration of pro-crypto Donald Trump just days away.&nbsp;</p>

<p>The largest cryptocurrency by market value has climbed as much as 13% since Sunday, putting it on pace for the biggest weekly gain since election week in November. Bitcoin, which reached a record US$108,315 (RM487,851) in December, had declined in three of the prior four weeks. It was up about 4.9% to US$105,076 as of 3.44pm&nbsp;in New York.</p>


Bitcoin jumps to high for year ahead of Trump inauguration

<p>Malaysia's economy is projected to grow at a moderate pace of 4.5% to 5.0% in 2025, benefiting from strong economic fundamentals and an uptick in foreign investments, Hong Leong Bank Bhd or HLB (KL:HLBANK) said.</p>


<p>Bank of America Corp&nbsp;is divvying up a roughly US$1 billion (RM4.5&nbsp;billion) pool of restricted stock among the majority of its staff, lifting compensation to retain employees as the lender seeks to boost earnings while keeping a lid on expenses.</p>


Bank of America staff to share about US$1b of stock awards

<p>Discussions are underway between the Malaysian Communications and Multimedia Commission (MCMC) and Microsoft, the owner of LinkedIn, regarding the licensing of the social media platform, said Communications Minister Fahmi Fadzil.</p>


<p>The US Federal Reserve (Fed) has withdrawn from the Network of Central Banks and Supervisors for Greening the Financial System (NGFS), a global coalition of central banks engaged in the study of climate risk that was launched in 2017.</p>


Fed withdraws from global climate coalition

<p>Starbucks Corp&nbsp;said it will eliminate some corporate positions, the latest chapter of chief executive officer Brian Niccol’s plan to rebuild the company.</p>

<p>The announcement will come in early March and “will not affect our in-store teams or the investments we are making in store hours,” Niccol wrote in a memo to workers that was included in a regulatory filing. The company declined to say how many positions will be eliminated and in what areas.</p>
