<div class=newsTextDataWrapInner><p>GEORGE TOWN (Aug 21): A top executive of the Penang Regional Development Authority (Perda) has been nabbed by the Malaysian Anti-Corruption Commission (MACC).</p></div>

<div class=newsTextDataWrapInner><p>The senior executive, holding office since 2023, was among five people nabbed for alleged abuse of power in the sale of eight plots of land belonging to the agency, causing the government agency to lose about RM1.96 million. MACC chief commissioner Datuk Seri Abd Halim Aman confirmed to <em>The Edge </em>that they had&nbsp;been arrested.</p></div>

<div class=newsTextDataWrapInner><p>Besides him, the MACC also arrested two company directors, a technical manager and a female clerk, all in their 40s and 50s.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The senior executive allegedly used his position at Perda, where he was serving in a different capacity at the time, to endorse the 2015 sale of land in Seberang Perai Selatan to a company linked to an associate.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Arrested between 11am and noon on Thursday at the Penang MACC headquarters, the suspects will be remanded on Friday.</p></div>

<div class=newsTextDataWrapInner><p>Perda is a federal statutory agency under the Ministry of Rural and Regional Development, which is under Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi’s purview.&nbsp;</p></div>


A top executive of the Penang Regional Development Authority (Perda) has been nabbed by the Malaysian Anti-Corruption Commission (MACC).

Penang development agency senior exec among five nabbed over RM1.96m land deal

Enproserve Corp Bhd (KL:ENPRO) said on Thursday it has secured a RM12.31 million contract to maintain government quarters in Putrajaya.

Enproserve wins RM12.3m contract to maintain Putrajaya govt quarters 

Zetrix AI Bhd (KL:ZETRIX) founder Wong Thean Soon has ceased to be a substantial shareholder in Cuscapi Bhd (KL:CUSCAPI), after disposing of about 103.6 million shares in the company.

The shares disposed of via direct business transactions on Sept 11, comprise 99.1 million shares held directly and 4.5 million shares held indirectly through his private vehicle Asia Internet Holdings Sdn Bhd, according to a bourse filing. The shares represented nearly an 11% stake in Cuscapi.

TS Wong ceases to be substantial shareholder in Cuscapi after offloading 103.6 mil shares

Prime Minister Datuk Seri Anwar Ibrahim on Thursday hinted at “good news” following a special meeting to discuss concerns over recent increases in electricity bills affecting some households.

PM promises ‘good news’ on electricity bills soon 

Glomac Bhd (KL:GLOMAC) posted a net profit of RM7.6 million for its first financial quarter compared to a net loss of RM1.42 million a year earlier, on the back of a sharp increase in revenue.

Glomac returns to profitability in 1Q on higher property development revenue

The Bank of England set out a multi-year programme on Thursday to offload most of its remaining £488 billion pounds of government bonds, but will pause sales for the next six months and halt sales of long-dated gilts entirely.

The BOE's decision comes days after British 30-year borrowing costs hit their highest since 1998 as part of a global bond selloff which reignited criticism that the BOE's bond sale policy crystallises losses for the central bank that are underwritten by the government.

Bank of England sets out long-term plan to unwind QE, halts long-dated gilt sales

Malaysia has experienced steady economic growth of over 5% annually in the last couple of years, but overall job creation increased by less than 2% each year, according to a discussion paper published by the PNB Research Institute (PNBRI) — the research arm of Permodalan Nasional Bhd.

PNB Research Institute: Malaysia needs a ‘good jobs strategy’ to escape low-wage trap

The World Bank on Thursday said it attracted US$112 billion (RM459 billion) in private capital in the year ended June versus US$69 billion a year earlier, and more than triple the amount in fiscal 2022 before former Mastercard CEO Ajay Banga became president.

World Bank boosts private capital mobilisation to record US$112b

The Bank of England predicted British inflation will top 4% early next year as it held interest rates unchanged on Thursday, and governor Andrew Bailey warned explicitly that prolonged conflict in the Middle East may require tighter policy.

Bank of England sounds inflation alarm as it holds interest rates

Reservoir Link Energy Bhd (KL:RL) said it has signed a 30-year power purchase agreement (PPA) with Syarikat SESCO Bhd, a wholly-owned subsidiary of state-owned Sarawak Energy Bhd, for a 200MWac solar photovoltaic project in the state with an estimated development cost of RM570 million.

Reservoir Link inks PPA with Sarawak state-owned firm for RM570 mil solar project

Tan Chong Motor Holdings Bhd (KL:TCHONG) and China‑based Saike REPT Power Battery System Co Ltd (Saike) have agreed to explore the production of electric vehicle (EV) battery packs and identified components in Malaysia.

Tan Chong Motor unit, China firm ink MOU to study EV battery production in Malaysia

<p>Over the past two years, I have occasionally written about some of the people I regard as role models in Malaysia's plantation and palm oil journey — Tun Dr Lim Keng Yaik, Tun Raja Muhammad Alias Raja Muhammad Ali, Tan Sri Abdul Khalid Ibrahim, Tan Sri Datuk Dr Augustine Ong Soon Hock, Datuk Boon Weng Siew, fondly remembered as “Uncle Boon”, MR&nbsp;Chandran and Mahbob Abdullah, among others.</p>


Opinion: Tan Sri Lee Oi Hian — the planter, the steward and the next row

<p>The Dewan Keadilan dan Undang Negeri Sembilan (DKU) has accused the Negeri Sembilan state executive council of treason and an attempted coup d'etat against ruler Tuanku Muhriz Tuanku Munawir, according to a letter issued on Wednesday night by Messrs Halim &amp; Ismail.</p>


DKU accuses Negeri Sembilan exco of treason and attempted coup d'etat against ruler Tuanku Muhriz

<p>The ringgit on Thursday depreciated to its lowest level in nearly three months amid broad-based greenback strength at a time of rising US interest rates.</p>


Ringgit approaches three-month low as Fed rate hike strengthens dollar

<p>AirAsia Group Bhd (KL:AAGB) fell on Thursday to the lowest in nearly four years amid mounting concerns over the low-cost airline’s financial health.</p>


AirAsia falls to near four-year low amid concerns over financial health

<p>Malaysia’s struggling bond market may see an outflow of Japanese capital as its yield premium shrinks.</p>


Malaysia’s battered bonds face growing risk of Japan fund exodus

<p>Analysts say now is a good opportunity to buy and accumulate YTL Power International Bhd's (KL:YTLPOWR) shares, given the recent pullback and the company's&nbsp;reservation of four new gas turbines amid a global backlog.</p>


YTL Power worth accumulating on pullback and new gas turbines — analysts

<p>&nbsp;Pioneer Heat Holdings Bhd (KL:PIONEER) ended its ACE Market debut on Thursday 5 sen, or 20%, higher than its initial public offering price of 25 sen. &nbsp;</p>


Pioneer Heat ends ACE Market debut 20% above IPO price

<p>Blogger Wan Muhammad Azri Wan Deris, or better known as Papagomo, has failed to obtain a stay of a High Court judgement in May that had ordered him to pay RM280,000 in damages for defaming former finance minister Lim Guan Eng and his son Clint Lim Way Chau six years ago.</p>


Papagomo fails to obtain stay of damages payment to Guan Eng, son

<p>Pestec International Bhd (KL:PESTEC) said the Kuala Lumpur High Court has extended an injunction preventing its China-based supplier Shandong Power Equipment Co Ltd (SPECO) from enforcing an undated corporate guarantee against the group.</p>


Pestec wins High Court order preventing Chinese supplier from enforcing corporate guarantee

<p>The government has agreed to expand the Budi Madani Diesel&nbsp;eligibility transfer facility, allowing registered owners of private diesel vehicles to transfer their eligibility to any eligible actual user,&nbsp;effective immediately.</p>


Budi Diesel: Govt now allows eligibility transfer to any eligible actual user

<p>Singapore’s push to become a major gold hub is gaining momentum, with DBS Group Holdings Ltd&nbsp;adding bullion storage capacity and other banks considering similar moves.</p>


Singapore’s gold hub plan gets lift with DBS vault expansion

<p>The judge presiding over the SRC International Sdn Bhd and 1Malaysia Development Bhd suits against Datuk Seri Najib Razak and the suit filed by Muhammed Yusoff Rawther against Prime Minister Datuk Seri Anwar Ibrahim will be&nbsp;transferred to Ipoh.</p>


Judge hearing Yusoff Rawther suit against PMX, and SRC, 1MDB suits to be transferred to Ipoh

<p>CCK Consolidated Holdings Bhd (KL:CCK) is no longer a ‘buy’ amid slower-than-expected recovery from a fire incident at one of its plants in Indonesia, said an analyst.</p>


CCK Consolidated no longer a ‘buy’ as Indonesian plant fire leaves lasting burn — analyst

<p>Huawei Technologies Co is set to unveil new artificial intelligence (AI) technology this week in defiance of US export control curbs, advancing its ambition to replace Nvidia Corp in China and compete on the global stage.</p>


Huawei set to unveil AI chips to match Nvidia 

<p>An individual who relies only on a fixed salary will eventually reach a ceiling.</p>


My Say: PETRONAS: Our hope for Malaysian global champions

<p>Negeri Sembilan Menteri Besar Datuk Ismail Lasim has confirmed that the state executive council recognises the proclamation removing Tuanku Muhriz Tuanku Munawir as the Yang di-Pertuan Besar, <em>Bernama</em> reported.</p>


Negeri Sembilan MB confirms state govt recognises removal of Tuanku Muhriz

<p>US President Donald Trump said he still had confidence in Federal Reserve (Fed) chairman Kevin Warsh and criticised what he said is a “hostile” board even after the central bank unanimously defied his calls to lower borrowing costs.</p>


Trump backs Warsh, faults ‘hostile’ Fed board for rate hike

<p>Malaysia has delayed the mandatory reasonable&nbsp;assurance requirements&nbsp;of&nbsp;applicable entities&nbsp;on their greenhouse gas (GHG) emissions by a year.&nbsp;</p>


Malaysia delays reasonable assurance requirements on greenhouse gas emissions by a year

<p>A total of 30 areas nationwide recorded unhealthy air pollutant index (API) readings as of 5pm on Thursday.</p>


Haze: Unhealthy air in 30 areas nationwide as of 5pm

<p>Mah Sing Group Bhd (KL:MAHSING) is expanding its property development pipeline in Johor with two residential projects scheduled for launch in the second half of 2026.</p>
