<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 24): The intraday short selling (IDSS) of Tanco Holdings Bhd’s (KL:<a href="/askedge/klse/2429" class="ce-stock" target="_blank">TANCO</a>) shares has been suspended for the rest of the day after its last done price dropped more than 15% or 15 sen from its reference price.</p></div>

<div class=newsTextDataWrapInner><p>Bursa Malaysia announced on its website that the IDSS of Tanco’s shares will only be reactivated at 8.30am on the following trading day (Monday, Jan 27).</p></div>

<div class=newsTextDataWrapInner><p>At 3.27pm on Friday, Tanco’s shares, which opened at RM2.13 sen per unit, slipped 26 sen to RM1.87 sen, with 21.07 million shares changing hands.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The counter had traded between RM1.80 and RM2.15 earlier on.</p></div>

<div class=newsTextDataWrapInner><p><em>Uploaded by Lam Seng Fatt</em></p></div>


The intraday short selling (IDSS) of Tanco Holdings Bhd’s (KL:TANCO) shares has been suspended for the rest of the day after its last done price dropped more than 15% or 15 sen from its reference price.

Bursa Malaysia suspends short-selling of Tanco's shares

Meta Platforms Inc plans to invest as much as US$65 billion (RM288.56 billion) on projects related to artificial intelligence (AI) in 2025, including building a giant new data centre and increasing hiring in AI teams, chief executive officer Mark Zuckerberg said on Friday.

The company intends to use the funds to build a data centre “so large that it would cover a significant part of Manhattan,” Zuckerberg said in a Facebook post.

Zuckerberg says Meta to spend up to US$65 bil on AI this year

Urban development planning in Malaysia must preserve the country’s identity, particularly in terms of its arts and culture, even while embracing advanced technology.

Prime Minister Datuk Seri Anwar Ibrahim said in addition to prioritising organised and systematic planning, cities in the country should also be recognised for their distinct character and uniqueness, setting them apart from major cities like London and those in Japan.

Urban planning in Malaysia must preserve national identity, culture — PM 

Sales of previously owned homes in the US rose for the third straight month in December, entering 2025 with some momentum after the worst year in nearly three decades.

Contract closings of existing homes last month increased 2.2% to an annualised rate of 4.24 million, the most since February, according to National Association of Realtors data released on Friday. That was in line with the estimate of economists surveyed by Bloomberg.

US existing-home sales pick up at end of worst year since 1995

(Jan 24): US Treasury yields have trended up since late last year, and commercial real estate distress risk is straining regional banks’ balance sheets again.

Stocks are already reacting to the higher borrowing costs. Smaller bank shares have fallen about 8.2% since late November a...

Regional banks face headache from rising Treasury yields

The benchmark S&P 500 and the Nasdaq struggled for direction on Friday, as investors avoided big bets and assessed fresh data to gauge the health of the economy, while Boeing dipped after issuing a quarterly profit warning.

A S&P Global survey showed that business activity slowed to a ninth-month low in January amid rising price pressures, but firms reported higher hiring, supporting the Federal Reserve's cautious approach to monetary policy this year.

S&P 500, Nasdaq flat as investors assess economic data; Boeing slips

Sarawak Consolidated Industries Bhd (KL:SCIB) on Friday said that the project developer for the now-scrapped civil servants housing project in Perak has disagreed with the repayment terms, and denied the outstanding debt it owed to the Main Market-listed company.

On Jan 13, SCIB announced that the RM162 million contract awarded to its wholly owned unit, SCIB Properties Sdn Bhd (SCIBP), from Awana JV Suria Saga Sdn Bhd in July 2024 as part of a debt settlement collapsed after Awana failed to fulfil a key condition precedent within the stipulated time frame.

Developer disagrees over repayment conditions, debt owed to SCIB for scrapped Perak housing project

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

MAHB, Gamuda, MRCB, Scientex, Genting Plantations, TMC Life Sciences, Axis REIT, AmanahRaya REIT, Taghill, Chin Hin, Ajiya, TCS 

Changpeng “CZ” Zhao, a few months out of prison and worth US$70 billion (RM310.75 billion)thanks to the relentless crypto rally, is turning the former venture capital (VC) arm of his Binance Holdings Ltd into a family office.
 
Binance Labs, which oversees about US$10 billion of crypto-related assets, will be renamed YZi Labs, according to a statement on Thursday.

Crypto’s richest man turns VC firm into giant family office

One of Chicago’s wealthiest families has named new leaders and appointed a board for the dynasty’s business after the death of Jim Crown at a racetrack accident in 2023.

Bill Crown, Jim’s first cousin, will replace him as president and chief executive officer of Henry Crown & Co, according to a statement on Friday. Brother Steve Crown will serve as executive chairman of a board of directors that will have five members.

Billionaire Crown dynasty revamps leadership after death of Jim Crown

TMC Life Sciences Bhd (KL:TMCLIFE) warned on Friday that it expects to report a loss for the second quarter ended Dec 31, 2024 (2QFY2025), compared to the net profit recorded in the same period last year.

TMC Life Sciences issues profit warning due to contract issues

<p>Bursa Malaysia Bhd and its subsidiaries will be closed on Jan 29 and 30 in conjunction with the Chinese New Year (CNY) public holiday.</p>


Bursa Malaysia, subsidiaries to close for CNY public holiday

<p>Eco World Development Group Bhd (KL:ECOWLD)(EcoWorld Malaysia) has officially opened the Tuah 1895 dining and lifestyle hub at its Bukit Bintang City Centre (BBCC) mixed-use development in Pudu, Kuala Lumpur on Friday.&nbsp;</p>

<p>Developed by BBCC Development Sdn Bhd, which is a joint venture company between EcoWorld Malaysia, UDA Holdings Bhd and the Employees Provident Fund, the 19.4-acre BBCC comprises residential suites, offices, hotels, a mall and entertainment offerings.</p>


EcoWorld Malaysia officially opens Tuah 1895 dining and lifestyle hub at Bukit Bintang City Centre

<p>Packaging manufacturer and developer Scientex Bhd (KL:SCIENTX) on Friday said it is acquiring 528.49 acres of land in Paya Rumput, Melaka for RM333.8 million cash (RM14.50 per sq ft) from Genting Plantations Bhd (KL:GENP).</p>


Scientex buys Melaka land from Genting Plantations for RM333 mil cash

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


<p>TMC Life Sciences Bhd (KL:TMCLIFE) warned on Friday that it expects to report a loss for the second quarter ended Dec 31, 2024 (2QFY2025), compared to the net profit recorded in the same period last year.</p>


<p>Changpeng “CZ” Zhao, a few months out of prison and worth US$70 billion (RM310.75 billion)thanks to the relentless crypto rally, is turning the former venture capital (VC) arm of his Binance Holdings Ltd into a family office.<br />
&nbsp;<br />
Binance Labs, which oversees about US$10 billion of crypto-related assets, will be renamed YZi Labs, according to a statement on Thursday.</p>


<p>The big data analytics (BDA) market is experiencing robust growth globally and in Malaysia, driven by the rising demand for data-driven solutions, said associate professor in Computer Science and head of the School of Mathematical and Computer Sciences at Heriot-Watt University Malaysia, Dr Ian Tan.</p>


Malaysia's big data analytics market poised for robust growth, says expert

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>Building and infrastructure construction services provider TCS Group Holdings Bhd (KL:TCS) saw the emergence of a new substantial shareholder.</p>

<p>James Liew Vun Tak acquired an 11.9% stake, equivalent to 71.5 million shares, through a direct business transaction on Friday.</p>


TCS sees emergence of new substantial shareholder with 11.9% stake as MD trims shareholding

<p>One of Chicago’s wealthiest families has named new leaders and appointed a board for the dynasty’s business after the death of Jim Crown at a racetrack accident in 2023.</p>

<p>Bill Crown, Jim’s first cousin, will replace him as president and chief executive officer of Henry Crown &amp; Co, according to a statement on Friday. Brother Steve Crown will serve as executive chairman of a board of directors that will have five members.</p>


<p>Sarawak Consolidated Industries Bhd (KL:SCIB) on Friday said that the project developer for the now-scrapped civil servants housing project in Perak has disagreed with the repayment terms, and denied the outstanding debt it owed to the Main Market-listed company.</p>

<p>On Jan 13, SCIB announced that the RM162 million contract awarded to its wholly owned unit, SCIB Properties Sdn Bhd (SCIBP), from Awana JV Suria Saga Sdn Bhd in July 2024 as part of a debt settlement collapsed after Awana failed to fulfil a key condition precedent within the stipulated time frame.</p>


<p>Building materials and construction engineering firm Chin Hin Group Bhd (KL:CHINHIN) has proposed to acquire an additional 37.38 million shares or a 12.27% stake in metal roofing and safety glass maker Ajiya Bhd (KL:AJIYA) for RM54.2 million or RM1.45 per share.</p>


Chin Hin raises Ajiya stake by 12.27% to 66.4% for RM54.2 mil

<p>China Life Insurance Co, the nation’s largest insurer by market value, said 2024 profit may have jumped as much as 144% from the previous year as the country’s stock rally boosted investment returns.<br />
&nbsp;<br />
Preliminary net income is estimated to rise between 122% and 144% to a range between 102.4 billion yuan (RM62.05 billion) and 112.6 billion yuan, the Beijing-based company said in a statement to the Hong Kong stock exchange on Friday.&nbsp;</p>


China Life says profit jump up to 144% on market rally

<p>manahRaya Real Estate Investment Trust (AmanahRaya REIT) has terminated its plan to sell the Contraves building in Cyberjaya due to a failed condition precedent, but is simultaneously pursuing the acquisition of a sustainable asset to boost its distribution per unit (DPU).</p>

<p>The purchaser, 4X Software Sdn Bhd, was unable to fulfill the stipulated condition precedent within the agreed timeline, which ended on Dec 26, 2024, according to AmanahRaya Kenedix REIT Manager Sdn Bhd, the REIT’s manager.</p>


AmanahRaya REIT pursues new asset buy as its RM42.5 mil Cyberjaya property sale falls through

<p>Abu Dhabi-based Modon Holding PSC has bought a stake in the London skyscraper that will house Ken Griffin’s Citadel and Citadel Securities once complete.<br />
&nbsp;<br />
The company purchased 50% of the 2 Finsbury Avenue project from Broadgate REIT, which is itself a venture between British Land Co and Singapore’s GIC Pte, according to a statement on Friday.</p>


Abu Dhabi developer buys stake in new Citadel London tower

<p>Meta Platforms Inc plans to invest as much as US$65 billion (RM288.56 billion) on projects related to artificial intelligence (AI) in 2025, including building a giant new data centre and increasing hiring in AI teams, chief executive officer Mark Zuckerberg said on Friday.</p>

<p>The company intends to use the funds to build a data centre “so large that it would cover a significant part of Manhattan,” Zuckerberg said in a Facebook post.</p>


<p>The benchmark S&amp;P 500 and the Nasdaq struggled for direction on Friday, as investors avoided big bets and assessed fresh data to gauge the health of the economy, while Boeing dipped after issuing a quarterly profit warning.</p>

<p>A S&amp;P Global survey showed that business activity slowed to a ninth-month low in January amid rising price pressures, but firms reported higher hiring, supporting the Federal Reserve's cautious approach to monetary policy this year.</p>


<p>The recently-busted vape smuggling syndicate is believed to have an international network to make false declarations to mislead the country's authorities.</p>

<p>Malaysian Anti-Corruption Commission (MACC) Chief Commissioner Tan Sri Azam Baki said the syndicate's tactics made it difficult for the authorities to detect the goods, with the bribes paid making it even harder for them and resulting in the goods not being inspected.</p>


Vape smuggling syndicate believed to have international network

<p>Solid Automotive Bhd's (SAB) wholly- owned subsidiary Part Center Sdn Bhd (PC) has entered into Sale and Purchase Agreements (SPAs) with two land owners to buy two plots of land, both measuring 1.90 hectares (4.69 acres) in Kapar, Klang.</p>


Solid Automative subsidiary to acquire two land parcels in Klang for combined RM33 mil

<p>(Jan 24):&nbsp;US Treasury yields have trended up since late last year, and commercial real estate distress risk is straining regional banks’ balance sheets again.</p>

<p>Stocks are already reacting to the higher borrowing costs. Smaller bank shares have fallen about 8.2% since late November a...