<div class=newsTextDataWrapInner>SINGAPORE: In separate announcements on Monday (March 24), UMS Integration Ltd and Grand Venture Technology Ltd said they have received approval from the Securities Commission Malaysia for the proposed secondary listing on the Main Market of Bursa Malaysia.&nbsp;</div>

<div class=newsTextDataWrapInner>According to UMS, the approval was subject to a few conditions, including UMS obtaining shareholders’ approval for the proposed adoption of the new constitution to incorporate provisions relating to the proposed secondary listing, and the company appointing at least two directors whose principal or only place of residence is within Malaysia.&nbsp;</div>

<div class=newsTextDataWrapInner>One of the two directors will also need to<a href="https://www.theedgesingapore.com/news/ipo/ums-grand-venture-tech-receive-approval-securities-commission-malaysia-secondary-listing" target="_blank">...(click on link for full story on theedgesingapore.com)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE: In separate announcements on Monday (March 24), UMS Integration Ltd and Grand Venture Technology Ltd said they have received approval from the Securities Commission Malaysia for the proposed secondary listing on the Main Market of Bursa Malaysia.

Singapore’s UMS, Grand Venture Tech receive approval from SC for secondary listing on Bursa Malaysia

US factory output unexpectedly declined for the first time this year as production of business equipment cooled and manufacturers grappled with higher input costs.

US factory output unexpectedly falls for first time this year

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

AirAsia Group, Capital A, KYM Holdings, TMK Chemical, Tenaga Nasional, Vestland, Eco World, Zetrix AI, Jati Tinggi 

Malaysia's Securities Commission plans to ask companies to disclose how they are preparing for El Niño amid concerns the country's businesses may be ill prepared for the fallout from the weather phenomenon, chairman Datuk Mohammad Faiz Azmi told Reuters.

SC to ask publicly-traded firms for El Niño plans, eyes deeper Middle East ties

Tenaga Nasional Bhd (KL:TENAGA) saw RM3.03 billion wiped off its market value in late-session selling on Friday, following the national utility's announcement it would absorb the government's expanded electricity subsidy for households until the year-end.

TNB sheds RM1.6 bil market cap after agreeing to absorb subsidy for domestic users

ES Sunlogy Bhd (KL:SUNLOGY) said on Friday it has secured a RM15.63 million subcontract for electrical phase two services works for a serviced apartment development in Johor.

ES Sunlogy bags electrical services subcontract for Johor serviced apartments

The Pakatan Harapan presidential council has stressed that no one is above the law, after former prime minister Datuk Seri Najib Razak was allowed house arrest to serve out the remainder of his jail term following his corruption conviction.

PH presidential council stresses 'no one above the law' following Najib's pardon

Evocom Bhd's initial public offering (IPO) has been oversubscribed by 3.6 times ahead of its listing on the ACE Market of Bursa Malaysia.

In a Bursa Malaysia filing, Malaysian Issuing House Sdn Bhd said a total of 6,326 applications were received for 104.69 million shares, while 22.78 million shares were available to the public.

Evocom IPO oversubscribed 3.6 times ahead of ACE Market debut

Malaysia’s stronger-than-expected export performance in August has prompted economists to reassess the country’s external trade outlook, with some raising their full-year growth forecast.

Economists see further upside to Malaysia’s 2026 exports after above-expectation August performance

By the end of this decade, the distinction between Malaysia’s “digital economy” and its traditional economy could begin to disappear. Artificial intelligence (AI) is moving rapidly beyond the chatbot.

Opinion: Reinventing Malaysia's economic core through AI and advanced digital technology

E5: King consents to house arrest for Najib until Aug 2028

AirAsia Group Bhd's (KL:AAGB) operation is sustainable with over RM1 billion cash in hand, group adviser Tan Sri Tony Fernandes said&nbsp;as he dismissed concerns about the airline's finances.

AirAsia sustainable with RM1 bil cash, no govt bailout requested, says Fernandes

Former prime minister Datuk Seri Najib Razak has been allowed house arrest to serve out his&nbsp;remaining sentence for grand corruption.&nbsp;

King consents to house arrest for Najib until August 2028

Budget 2027 could see further sales and service tax (SST) exemptions to reduce costs embedded in businesses, alongside possible personal income tax relief for middle-income taxpayers, according to CIMB Securities.

Budget 2027 may bring SST exemptions, income tax relief for middle-income earners — CIMB Securities

Minister in the Prime Minister’s Department (Federal Territories) Hannah Yeoh has denied signing any house arrest order involving former prime minister Datuk Seri Najib Razak, which has been circulating on social media.

Hannah Yeoh denies signing Najib’s house arrest order

Zetrix AI Bhd (KL:ZETRIX) is postponing its cash dividend payout following a court order secured by a substantial shareholder of the digital services firm.

One shareholder's court order holds up Zetrix AI's entire cash dividend payout

Malaysia Airlines’&nbsp;parent is said to be closing in on an order for Boeing Co 787 Dreamliners as the carrier seeks to renew its long-haul fleet, according to people familiar with the matter. 
&nbsp;

Malaysia Airlines closing in on order for Boeing 787 Dreamliners — Bloomberg

It is unfeasible for rivals to absorb AirAsia Group Bhd's (KL:AAGB) domestic market share even as a contingency plan, the airline’s adviser Tan Sri Tony Fernandes said.

Talks of rival airlines absorbing AirAsia's capacity 'ludicrous' — Fernandes

Pakatan Harapan will hold a presidential council meeting on Friday evening to discuss current developments, according to a local news report.

Pakatan Harapan leaders to meet on current political developments — report

Tenaga Nasional Bhd (KL:TENAGA) saw RM3.03 billion wiped off its market value in late-session selling on Friday, following the national utility's announcement it would absorb the government's expanded electricity subsidy for households until the year-end.

The Democratic Action Party (DAP) said its central executive committee will be meeting on Saturday to discuss and decide on the party's stance and follow-up actions, after former prime minister Datuk Seri Najib Razak was allowed house arrest to serve out his remaining corruption sentence.

DAP respects King’s prerogative on Najib, CEC to meet Saturday to decide party direction

The pardon given by the Federal Territory Pardons Board on Friday — for imprisoned former prime minister Datuk Seri Najib Razak to serve the remainder of his prison sentence for his SRC International Sdn Bhd conviction under house arrest until the end of his sentence in August 2028 — on condition that the RM50 million fine he had been given is paid first, sets a precedent for white collar crimes, says senior criminal lawyer Datuk N Sivananthan.

Pardon to serve house arrest sets precedent for white collar and other crimes, says lawyer

Tenaga Nasional Bhd (KL:TENAGA) will absorb the impact from the electricity tariff fuel surcharge exemption that has been expanded to more households up until the end of this year.

Tenaga Nasional to absorb fuel surcharge for electricity subsidy expansion

TMK Chemical Bhd (KL:TMK) has agreed to acquire Chemical Company of Malaysia Bhd (CCM) from Batu Kawan Bhd (KL:BKAWAN) and its wholly-owned unit Enternal Edge Sdn Bhd for RM939.9 million.

TMK Chemical to buy CCM from Batu Kawan for RM939.9m

The Bank of Japan (BOJ) raised its benchmark interest rate in a split decision showing dissent within the board as it confronts mounting inflation risks and unusually explicit calls for further policy normalisation from Washington.

Japan's central bank hikes rates in split decision after US pressure

Civil society groups have expressed concern and regret over the Federal Territories Pardons Board’s decision to allow former prime minister Datuk Seri Najib Razak to serve the remainder of his prison sentence under house arrest.

Civil society groups voice concern and regret over Najib’s house arrest decision

Sunway Medical Group broke ground for the RM800 million Sunway Medical Centre Iskandar Puteri in Johor on Friday, further completing the 2,000-acre Sunway City Iskandar Puteri township development.&nbsp;

Sunway Medical Group breaks ground for RM800 mil Sunway Medical Centre Iskandar Puteri in Johor

All ongoing court cases involving Datuk Seri Najib Razak must continue, national news agency Bernama reported on Friday, citing Prime Minister Datuk Seri Anwar Ibrahim.

Anwar says all legal cases involving Najib must continue — report

Russia took control of the local businesses of Swiss food giant Nestle SA and French supermarket chain Auchan in the Kremlin’s largest takeover of foreign corporate assets since at least 2024 amid rising tensions with Europe.

Russia grabs Nestle assets in biggest seizure since 2024

Minister in the Prime Minister’s Department (Federal Territories) Hannah Yeoh and Attorney General Tan Sri Mohd Dusuki Mokhtar attended the&nbsp;64th meeting of the Pardons Board for the Federal Territories of Kuala Lumpur, Labuan, and Putrajaya at Istana Negara on Friday.

Hannah Yeoh, AG attend Pardons Board meeting

Malaysia's inflation was a tad faster than expected in August as price growth in transport, utilities and food picked up, official data released on Friday showed.