<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 21): Zecon Bhd (KL:<a href="/askedge/klse/7028" class="ce-stock" target="_blank">ZECON</a>) has teamed up with the Sabah Islamic Religious Council (MUIS) for a proposed housing development project in the state’s capital, Kota Kinabalu.</p></div>

<div class=newsTextDataWrapInner><p>The two parties inked a memorandum of understanding on Tuesday to collaborate on the development, said Zecon, adding that a definitive agreement in the form of a joint venture or concession agreement will follow carrying a proposed equity participation of 70% for Zecon and 30% for the MUIS.</p></div>

<div class=newsTextDataWrapInner><p>Zecon said the MUIS owns a 6.07-hectare land in Kota Kinabalu, where the proposed project is expected to be developed.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The MUIS shall undertake [the development] to develop the economic standing of the Muslim community in Sabah, particularly on the development of property owned by them,” said the engineering and construction firm in a bourse filing. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Shares in Zecon were last traded last Friday at 47 sen, valuing the company at RM69.78 million.</p></div>


Zecon Bhd (KL:ZECON) has teamed up with the Sabah Islamic Religious Council (MUIS) for a proposed housing development project in the state’s capital, Kota Kinabalu.

Zecon partners Sabah Islamic Religious Council for housing project

Former Sabah Infrastructure Development Minister Datuk Peter Anthony filed a review of the Court of Appeal's decision to uphold his three-year jail sentence and RM50,000 fine for falsifying documents related to the maintenance and service contract at Universiti Malaysia Sabah (UMS) 11 years ago.

Former Sabah minister Peter Anthony seeks to review Court of Appeal's decision

The federal government has allocated RM1.836 billion for development expenditure in Terengganu for this year.

Prime Minister Datuk Seri Anwar Ibrahim said the expenditure under Budget 2025 increased compared to the allocation for 2024 which was RM1.597 billion.

Terengganu was allocated RM1.84 bil for development this year — PM 

Malaysians must reject divisive voices that threaten the harmony of the country's multiracial society, said Housing and Local Government Minister Nga Kor Ming.

He said unity is the foundation of the nation's stability and progress in building a Malaysia Madani.

Nga tells the people to reject divisive voices that threaten multiracial unity

China has pledged strong support for Malaysia’s Asean 2025 chairmanship, emphasising the Asean-China Free Trade Area (ACFTA) 3.0 Protocol signing as a key priority for regional economic integration.

China backs Malaysia’s Asean leadership, prioritises ACFTA 3.0

The United Arab Emirates (UAE) will invest US$1.4 trillion (RM6.19 trillion) in the US following a meeting earlier this week between President Donald Trump and Sheikh Tahnoon Bin Zayed Al Nahyan, the UAE’s national security adviser, a White House official said.

UAE to pledge US$1.4 tril in US investment after Trump meeting

Nike shares fell more than 9% to their lowest since the pandemic on Friday after a warning of another quarter of sales decline sparked worries about the pace of a crucial turnaround at the sportswear giant under new CEO Elliott Hill.

Nike tumbles to five-year low as sales decline forecast clouds quick turnaround hopes

Billionaire Elon Musk held a meeting for more than an hour at the Pentagon on Friday morning as the close ally of President Donald Trump called for the prosecutions of any Pentagon officials leaking false information about his visit.

Elon Musk holds Pentagon meeting, wants leakers prosecuted

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

Alliance Bank, Crest Builder, Capital A, AirAsia X, Nestlé, DRB-Hicom, VS Industry, Genting, Salcon, Erdasan, CelcomDigi

Wall Street's main indexes declined on Friday as investors continued to navigate the complex landscape of tariffs, with FedEx becoming the latest firm to adjust its annual projections due to economic uncertainties.

Wall Street falls on tariff woes; FedEx slides after bleak forecast

Alliance Bank Malaysia Bhd (KL:ABMB) is making a cash call to its shareholders.

Alliance Bank proposes renounceable rights issue of shares to raise RM600m

<p>Genting Bhd (KL:GENTING) has agreed to pay a fine of US$10.5 million (RM46.41 million) to the Nevada Gaming Commission as part of a settlement for a complaint against its Las Vegas resort.</p>


Genting agrees to RM46m fine as part of settlement for complaint against Las Vegas resort  

<p>Nestlé (Malaysia) Bhd (KL:NESTLE) on Friday broke ground for a RM250 million integrated logistics hub in Port Klang.</p>

<p>The facility is designed to function as a regional hub, facilitating product exports to over 60 countries and sourcing imported raw materials, Nestle Malaysia said in a statement. The hub is expected to be fully operational by the first quarter of 2026 and create over 200 new jobs, it said.</p>


Nestlé Malaysia breaks ground for RM250m regional logistics hub in Port Klang

<p>The federal government announced on Friday it will distribute cash totalling RM900 million to eligible serving civil servants and public pensioners under a special Aidilfitri Financial Assistance programme.</p>


Govt to hand out RM900 mil cash to civil servants, public retirees for Aidilfitri

<p>China’s imports of US cotton, cars and some energy products all plunged in the first two months of the year after President Donald Trump started imposing tariffs and Beijing retaliated.</p>


China imports of US commodities, cars collapse in new trade war

<p>Boeing Global president Brendan Nelson has announced that the company will increase its Malaysian workforce by 20% over the next two years, reinforcing its commitment to the country’s aerospace industry.</p>


Boeing to increase Malaysian workforce by 20% as part of expanded partnership with Malaysia Airlines

<p>A pro-Beijing newspaper has called on CK Hutchison Holdings Ltd to pull out from an agreement to sell its ports on the Panama Canal to a group led by BlackRock Inc, marking an escalation of a pressure campaign on billionaire Li Ka-shing over the deal.</p>


Pro-Beijing paper urges Li Ka-shing to scrap Panama port sale

<p>Capital A Bhd (KL:CAPITALA) said the High Court has confirmed its issued share capital reduction and repayment, paving the way for the low-cost airline’s proposed distribution.</p>


Capital A to proceed with distribution plans after court confirms share capital reduction

<p>Alliance Bank Malaysia Bhd (KL:ABMB) is making a cash call to its shareholders.</p>


<p>The Consumer Credit Bill 2025, which is expected to be gazetted by the end of this year, will require buy now, pay later (BNPL) providers to report consumer borrowing data to credit rating agencies.</p>


Mandatory reporting of BNPL borrowing data to credit agencies under new bill

<p>MSB Global Group Bhd, an aftermarket automotive parts and components distributor, on Friday launched its initial public offering (IPO) that could raise up to RM41.4 million from the ACE Market.</p>


Autopart distributor MSB Global sets ACE Market IPO price at 20 sen per share

<p>Read more in the March 24 edition of The Edge Malaysia Weekly.</p>


Trumpianomics: The Art of Coercion

<p>Hotayi Electronic (M) Sdn Bhd, a Taiwanese electronics manufacturing services company, has launched the third phase of its expansion in Batu Kawan, Penang, with an investment of RM500 million in a manufacturing facility.</p>


Taiwanese firm Hotayi Electronic launches RM500 mil smart factory expansion in Penang

<p>DRB-Hicom Bhd (KL:DRBHCOM) has been spared from a potential RM246.25 million tax bill after the Inland Revenue Board (IRB) ruled in favour of the automotive-to-banking conglomerate’s appeal, reversing its decision to classify the gain from the disposal of its long-held stake in Alam Flora Sdn Bhd as income.</p>


DRB-Hicom spared RM246 mil tax bill after IRB rules in favour of appeal

<p>The Attorney General's Chambers (AGC) has applied to strike out the government, along with Prime Minister Datuk Seri Anwar Ibrahim, as parties in Datuk Seri Mukhriz Mahathir's ongoing legal action over additional taxes and subsequent penalty of about RM5 million.</p>


Anwar, govt seek to be removed from Mukhriz's legal challenge over RM5 mil additional taxes

<p>China has not shipped any antimony to European Union (EU) countries since October, customs data showed on Thursday, after the dominant supplier imposed&nbsp;export controls&nbsp;that have fuelled a surge in global prices for the strategic metal.</p>


China export controls freeze antimony shipments to EU from October

<p>Asean economies, particularly Vietnam, Malaysia, and India, have benefited from China's supply chain diversification, primarily in textiles and electronics, according to&nbsp;Moody's Ratings.</p>


Asean, including Malaysia, benefits from China's supply chain diversification, says Moody's

<p>Luxury retailer Bonia Corporation Bhd (KL:BONIA) said it is raising its stakes in a property investment subsidiary and an associate operating seafood restaurant for a combined RM13.16 million.</p>


Bonia to raise stakes in property investment subsidiary, restaurant associate for combined RM13m

<p>Malaysia recorded its&nbsp;biggest-ever drug bust, after the police seized RM1.06 billion worth of methamphetamine at West Port&nbsp;here&nbsp;on Jan 25.</p>


RM1.06b meth seized at West Port in Malaysia's largest-ever drug bust

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


<p>Federal Reserve chair Jerome Powell has been crystal clear about whether President Donald Trump can fire him. “Not permitted under the law,” he said — twice — when asked in November.</p>
