<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 16): Zetrix AI Bhd (KL:<a href="/askedge/klse/0138" class="ce-stock" target="_blank">ZETRIX</a>) acknowledged a potential breach of a sukuk's clause that requires the digital services firm’s managing director to remain as its single-largest shareholder.</p></div>

<div class=newsTextDataWrapInner><p>A spate of forced selling that began near the end of August has cut Wong Thean Soon’s shareholding to less than 2% now from nearly 30%, resulting in the potential covenant breach under the RM2 billion sukuk programme, the company said in an exchange filing. Zetrix AI has to remedy the breach by Oct 22.</p></div>

<div class=newsTextDataWrapInner><p>If the company fails to remedy the breach by then, “the consent and instructions or direction of the sukukholders will be sought via an extraordinary resolution of sukukholders”, Zetrix AI said.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The company added that it is currently in talks with the sukuk trustee.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/821959" target="_blank">Zetrix AI confirms police investigation into company following Bursa query</a><br />
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Zetrix AI Bhd (KL:ZETRIX) acknowledged a potential breach of a sukuk's clause that requires the digital services firm’s managing director to remain as its single-largest shareholder.

Zetrix AI acknowledges potential breach of sukuk covenant

Oil prices eased on Friday but were heading for weekly gains on the uncertainty over Middle East supplies and a larger-than-expected crude stocks draw in the US.

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All school bus owners and operators have been urged to update their drivers’ details from now until Oct 30 to facilitate the disbursement of RM1,000 in special financial assistance.

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Indonesia's stock market is no longer worthy of "emerging market" status, according to MSCI, and the index provider said it intends to cut it from a suite of products tracked by global investors, a major setback that sent money fleeing.

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Malaysia-China cooperation in technical and vocational education and training (TVET) has secured thousands of training opportunities for Malaysians, with the partnership now focusing on developing skilled talent for high-value jobs in emerging technologies.

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Sumitomo Life Insurance Co is considering buying companies in Southeast Asia and the US as the Japanese insurer seeks to expand and diversify its income, its top executive said.

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Malaysia has proposed establishing a World Technical and Vocational Education and Training (TVET) Council, with China as its permanent host, to strengthen international cooperation in skills and workforce development.

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Malaysia’s economy expanded 5.3% in the third quarter from a a year earlier as growth of the manufacturing and services sectors offset a contraction in mining activities, official flash estimates showed.

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Pasir Gudang in Johor recorded a very unhealthy air pollutant index (API) reading of 207, the highest in the country, while 30 other areas recorded unhealthy readings as of 9am on Friday.

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Bank of England governor Andrew Bailey said there is little evidence yet of inflation becoming embedded in UK price and wage-setting.

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<p>Indonesia's stock market is no longer worthy of "emerging market" status, according to MSCI, and the index provider said it intends to cut it from a suite of products tracked by global investors, a major setback that sent money fleeing.</p>


<p>Zetrix AI Bhd (KL:ZETRIX) acknowledged a potential breach of a sukuk's clause that requires the digital services firm’s managing director to remain as its single-largest shareholder.</p>


<p>EGH International Bhd (KL:ECOGRP) fell in its ACE Market trading debut on Friday amid relatively weak demand for the interior fit-out firm’s shares.</p>


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<p>Asian equities rose on Friday morning, tracking gains on Wall Street as dip buyers stepped in following a chip-stock sell-off fuelled by concerns about the artificial intelligence (AI) trade.</p>


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<p>Eligible renewable energy developers under the Corporate Renewable Energy Supply Scheme (CRESS) Acceleration Package (CAP) will benefit from a fixed system access charge (SAC) of 14 sen per kilowatt-hour (kWh) for 10 years, while green consumers will be subject to a separate charge of four sen/kWh.</p>


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<p>Malaysian banking stocks could see some stability towards the end of 2026 as declining global bond yields provide an opportunity for banks to recover investment losses, said MBSB Research.</p>


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<p>(Oct 15): Is an October Fed hike back on the table? The release of hot headline and core September US inflation figures sent markets into a tailspin on Wednesday, with futures markets at one point showing as much as a ​50-50 chance that the Federal Reserve may raise interest rates again this mont...

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<p>Kepong Member of Parliament Lim Lip Eng has called on the Prisons Department to disclose the conditions governing convicted former prime minister Datuk Seri Najib Razak’s house arrest.</p>


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<p>Oil prices eased on Friday but were heading for weekly gains on the uncertainty over Middle East supplies and a larger-than-expected crude stocks draw in the US.</p>


<p>The European Union (EU) is preparing to create new trade powers that could completely shut off access to its single market as part of a dramatic new push to cut the trade deficit with China.&nbsp;</p>


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<p>A local assembly operation by Chinese carmaker BYD&nbsp;will offer incremental upside to Sime Darby Bhd (KL:SIME) which controls the plant, an analyst said.<br />
&nbsp;</p>


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<p>Wall Street staged a comeback after losses driven by concerns about the sustainability of the artificial-intelligence trade that has powered the bull market in stocks.</p>


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<p>Malaysia’s economy expanded 5.3% in the third quarter from a a year earlier as growth of the manufacturing and services sectors offset a contraction in mining activities, official flash estimates showed.</p>


<p>Fit-out or refurbishment specialist EGH International Bhd (KL:ECOGRP) is focusing on its expansion into Sarawak and Sabah, while eyeing contracts from the US&nbsp;and Vietnam.</p>


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<p>Singapore is looking into companies that may be responsible for forest fires in Indonesia, which have worsened haze conditions in the region, Singapore Prime Minister Lawrence Wong said.</p>


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<p>ORLANDO, Florida (Oct 15): The AI equity rout accelerated significantly in Asia on Thursday on growing fears about the murky, circular financing powering the intelligence revolution's buildout, although its force evaporated in European and US trading hours. Still, safe-haven inflows meant US Trea...

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<p>Pasir Gudang in Johor recorded a very unhealthy air pollutant index (API) reading of 207, the highest in the country, while 30 other areas recorded unhealthy readings as of 9am on Friday.</p>


<p>Westport Holdings Bhd's (KL:WPRTS) earnings are likely to beat consensus in the third quarter, underpinned by stronger throughput and value-added services (VAS), Maybank Investment Bank said in a note on Friday.</p>
