<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 16): PETRONAS and Vietnam National Industry–Energy Group (Petrovietnam) have signed a strategic alliance agreement to strengthen their 35-year partnership and advance energy security, sustainability and long-term growth.</p></div>

<div class=newsTextDataWrapInner><p>In a statement issued on Friday, PETRONAS said the agreement provides a framework for cooperation across the energy value chain, including oil and gas (O&amp;G) exploration, natural gas and liquefied natural gas (LNG), downstream activities and low-carbon solutions.</p></div>

<div class=newsTextDataWrapInner><p>The agreement was signed by PETRONAS president and group CEO Tan Sri Tengku Muhammad Taufik and Petrovietnam president and CEO Le Manh Cuong, witnessed by Vietnamese Prime Minister Le Minh Hung.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>PETRONAS has operated in Vietnam since 1991, with investments spanning O&amp;G, petrochemicals, renewable energy and LNG. Its regional cooperation also includes a tripartite renewable energy initiative involving Vietnam, Malaysia and Singapore.</p></div>

<div class=newsTextDataWrapInner><p>Both companies said they would continue working together to support Vietnam’s energy needs and expand energy cooperation across the region.<br />
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PETRONAS and Vietnam National Industry–Energy Group (Petrovietnam) have signed a strategic alliance agreement to strengthen their 35-year partnership and advance energy security, sustainability and long-term growth.

PETRONAS, Petrovietnam sign strategic alliance to deepen 35-year energy partnership

Chinese chipmaker CXMT Corp reported a surge in preliminary profit and sales during the first nine months of the year after global demand for memory sent prices of the components soaring.

China’s CXMT swings to profit after memory chip prices surge

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

Zetrix AI, Genting, Genting Plantation, IOI Properties, Public Bank, RHB Bank, Cape EMS, Turiya, EGH International, Westsports Holdings & Cosmos Tech 

ExxonMobil Holdings Corp is the latest oil supermajor to signal soaring third-quarter refining profits as wars in the Persian Gulf and Russia crippled fuel-making facilities causing prices to surge.

Exxon signals record refining earnings on soaring diesel prices 

IOI Properties Group Bhd (KL:IOIPG) said its board has yet to deliberate on the potential acquisition of Singapore properties mentioned by its chief executive officer in a media report.

IOI Properties board yet to deliberate on potential Singapore acquisitions

Shipping estimates for Apple Inc’s first folding phone, the iPhone Duo, slipped into December and beyond within minutes of the company opening pre-orders on Friday.

Apple iPhone Duo orders slip into 2027 amid pre-order frenzy

The benchmark S&P 500 was muted on Friday as worries about cracks in the AI trade pressured semiconductor stocks, while gains in banks limited overall declines.

S&P 500 subdued as gains in banks offset AI jitters; Dow at one-month high

Ukrainian President Volodymyr Zelenskiy took aim on Friday at US President Donald Trump's diesel deal with Russia and welcomed the prospect of European allies stepping up their role in talks, calling Moscow's stance a "parody" of peace negotiations.

Zelenskiy blasts Trump's diesel deal and calls Russian peace moves a 'parody'

Parti Amanah Negara (Amanah) president Datuk Seri Mohamad Sabu stated that the party has been allocated eight state legislative assembly (DUN) seats to contest in the Melaka state election (PRN).

Amanah allocated eight seats in Melaka polls — Mohamad Sabu

The US is on track to install record amounts of clean energy this year and next as developers race to claim expiring federal tax credits and as soaring data-centre electricity demand stimulates growth.

US clean energy set to reach new highs as tax-credit cliff looms

US factory production increased in September, but lost considerable momentum in the third quarter amid headwinds from the Middle East conflict, which has snarled supply chains and raised energy prices.

US manufacturing output rises in September

<p>UBB Amanah Bhd has said that there would be delays in its trust income and maturity payments for October, due to "temporary liquidity constraints arising from delayed repayments by certain investee companies".</p>


UBB Amanah defers October trust payouts amid ‘temporary liquidity constraints’

<p>Genting Bhd (KL:GENTING) executive chairman Tan Sri Lim Kok Thay’s private investment vehicle, Kien Huat Realty Sdn Bhd, has acquired additional shares in the group as its stock hovers near its two-decade lows.</p>


Genting chairman buys more shares as stock nears two-decade low

<p>The Sessions Court here was told on Friday that local fashion company&nbsp;FashionValet Sdn Bhd&nbsp;received investment funds totalling nearly RM40 million from Khazanah Nasional Bhd and Permodalan Nasional Bhd (PNB) eight years ago.</p>


FashionValet received investment of almost RM40 mil from Khazanah, PNB, says witness

<p>PETRONAS and Vietnam National Industry–Energy Group (Petrovietnam) have signed a strategic alliance agreement to strengthen their 35-year partnership and advance energy security, sustainability and long-term growth.</p>


<p>Zetrix AI Bhd (KL:ZETRIX) faces potential sukuk payment obligations of RM2.16 billion if it fails to resolve a covenant breach by Oct 22, which could trigger a payment default.</p>


Zetrix on the hook for RM2.16 bil as sukuk holders sound alarm bell  

<p>Two Tenaga Nasional Berhad (TNB) workers were rushed to hospital after a fire broke out at &nbsp;a major electricity substation in Johor Bahru on Friday, causing power outages across large parts of the state capital.</p>


Two TNB workers rushed to hospital after JB power substation fire  

<p>Datuk Vijayasundaram Jeyabalan has emerged as a substantial shareholder in Turiya Bhd (KL:TURIYA) after acquiring 22.872 million shares, representing a 9.091% stake in the company, through a private placement.</p>


Vijayasundaram Jeyabalan emerges as Turiya’s second-largest shareholder with 9.09% stake via placement

<p>Bank Negara Malaysia (BNM) has maintained additional capital buffer requirements for the country’s three biggest banks: Malayan Banking Bhd (KL:MAYBANK), CIMB Group Holdings Bhd (KL:CIMB) and Public Bank Bhd (KL:PPBANK).</p>


Bank Negara keeps Maybank, CIMB and Public Bank on systemically important banks list, with capital buffers unchanged

<p>Public Bank Bhd (KL:PBBANK) could see its consolidated net assets and earnings per share reduced by four sen, following an expected HK$1.964 billion — or about RM1.1 billion — goodwill impairment at its Hong Kong-listed subsidiary, Public Financial Holdings Ltd (PFHL).</p>


Public Bank’s HK unit to take HK$1.9b non-cash impairment, trimming parent’s net assets and earnings by four sen per share

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


<p>The new minimum wage rule for larger firms will be assessed at the group level and not individual subsidiaries, Human Resources Minister Datuk Seri R Ramanan said.</p>


Ramanan: Minimum wage threshold applies at group level, covers foreign workers too

<p>RHB Bank Bhd (KL:RHBBANK) said on Friday it has applied to Bank Negara Malaysia (BNM) for more time to conclude negotiations with Tokio Marine Asia Pte Ltd on the proposed merger of their insurance business in the country.</p>


RHB Bank seeks more time to conclude insurance merger with Tokio Marine

<p>The Human Resources Ministry plans to amend the National Wages Consultative Council Act 2011 to allow minimum wages to be set based on education levels, paving the way for a mandatory minimum starting salary of RM2,500 a month for graduates and semi-skilled workers under Budget 2027.</p>


Govt to amend wage law for mandatory RM2,500 minimum starting salary for graduates, semi-skilled workers — HR minister

<p>For a decade, Southeast Asia has sold a rather attractive story about the US–China rift: let the giants throw furniture at each other; we will take the factory bookings.&nbsp;</p>


Opinion: China’s export boom has a hidden bill; Asean is already paying

<p>Chinese chipmaker CXMT Corp reported a surge in preliminary profit and sales during the first nine months of the year after global demand for memory sent prices of the components soaring.</p>


<p>Shipping estimates for Apple Inc’s first folding phone, the iPhone Duo, slipped into December and beyond within minutes of the company opening pre-orders on Friday.</p>


<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday.</p>


FBM KLCI down 0.98% to 1,607.76 on Oct 16, 2026

<p>Indonesia's President Prabowo Subianto has agreed to accept assistance from neighbouring countries to tackle its worst forest fires in more than a decade, the country's foreign minister said.</p>


Indonesia's president ready to accept foreign assistance to combat fires, foreign minister says

<p>IOI Properties Group Bhd (KL:IOIPG) said its board has yet to deliberate on the potential acquisition of Singapore properties mentioned by its chief executive officer in a media report.</p>


<p>The Malaysian Photovoltaic and Sustainable Energy Industry Association (MPSEA) hopes the government’s revised System Access Charge (SAC) and tariff structure under the Corporate Renewable Energy Supply Scheme (CRESS) Acceleration Package (CAP) will be the final version, providing greater certainty for renewable energy developers and businesses.<br />
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