KUALA LUMPUR (July 26): On Nov 26, 2019, the Federal Court, which is Malaysia’s apex court, delivered a judgement to declare Regulation 11(3) of the Housing Development (Control and Licensing) Regulations 1989 as void in Ang Ming Lee & Ors vs Menteri Kesejahteraan Bandar, Perumahan dan Kerajaan Tempatan & Anor and other appeals (AML). The decision of the Federal Court effectively rendered earlier decisions of the Controller of Housing in granting an extension of time to developers to deliver vacant possession as null and void. In Malaysia, a judgement of a court applies retrospectively, meaning that a new interpretation of the law would apply to situations or transactions that occurred before the judgement was delivered. Despite the AML being handed down in November 2019, homebuyers began commencing lawsuits against developers for late delivery of vacant possession, for sale of property as far back as 2013.

Federal Court’s judgement in Ang Ming Lee case relieves developers from retrospective suits

The urgency of climate change is becoming increasingly apparent, with Malaysia experiencing more frequent and intense weather-related disasters, food insecurity and water scarcity. The effects of climate change are accelerating faster than predicted. Certainly, there is a need for an emergency re...

Trust In Resilience: Accelerating carbon capture adoption in Malaysia

Spain celebrated; England wept. But contrasting emotions at the end of the European Championships were not confined to one nation’s swift reclamation of the podium and the other’s perennial pain. The tournament’s joyous return to party mood after the pandemic was a welcome distraction from politi...

Business Of Sports: Football is becoming more of an entertainment than a sport

We are just over halfway through 2024 but it is already shaping up to be one of the most exciting years for Johor’s economy.

Talent the secret sauce to Johor’s developed economy ambitions

In the wake of the Great Recession of 2008-2009, practically everyone seemed convinced that China’s economy would surpass that of the US by 2030. Today, China is facing a range of crises that could spell doom for its economic “miracle”. In an effort to get back on track — and strengthen its strat...

The New Global Economy: The US needs a techno-industrial strategy

Toh Kin Woon. Malaysia’s New Economic Policy in Its First Decade: The Role of the State in Economic Development, 1971-1980. SIRD, Petaling Jaya, 2024.

 

Datuk Toh Kin Woon’s book analyses the changing government role in Malaysi...

My Say: Razak’s policy legacy in the nation’s history

It is now fashionable in education marketing to add “A” to “STEM”, as a means to extend and deepen the range of topics a school covers. While teaching science, technology, engineering and mathematics (STEM) to the young has been commendable in many ways, albeit mainly in providing talent to corpo...

Picking On The Present: Making the most of the promising epistemological shift from STEM to STEAM

There are growing calls to rethink the dominant paradigm in economic policymaking, which is the pursuit of continued economic growth. The argument for “degrowth” is usually applied to developed economies on the basis that, beyond a point, economic growth does not improve social welfare and in fac...

My Say: Balanced economic growth is the way ahead

A DAP minister was reported to have said that he will consult the Madani Cabinet on the need to revise a Ministry of Education (MOE) guideline that bans schools from receiving funds generated from selling tobacco products and alcoholic beverages.

Hanipa on issue of MOE guidelines banning schools from receiving funds generated from selling tobacco products and alcoholic beverages

KUALA LUMPUR (July 23): Supporters of forest-based carbon markets will point to the continual improvements made to methodologies as science advances, the increasing use of precision technologies to monitor impacts, and the opportunity they provide for transfering climate finance from the global north to the global south, as among reasons to use high quality credits as one of a package of tools to drive climate, biodiversity and local community gains.

Improving carbon markets can help finance large-scale climate action; rejecting them outright means potential is lost

Proponents of freedom of expression and the press believe that they can be self-regulated and be responsible enough to ensure that what they say, write, critique and post on the internet is always right. It is also within their democratic rights. After all, this is the age of digital democracy.

My Say: From digital democracy to anarchy

The bosses of Europe’s biggest banks are asking investors to believe two seemingly contradictory things: that while their earnings benefitted from rate hikes, rate cuts could be good for them too. It’s less implausible than it sounds.

As rates fall, European banks can still rise

On July 15, de facto law minister Datuk Seri Azalina Othman told reporters that the Legal Affairs Division of the Prime Minister’s Department was ready to propose amendments to the anti-party hopping law. This follows an earlier comment by Prime Minister Datuk Seri Anwar Ibrahim that the government was open to holding discussions to fix any loophole in the Constitution (Amendment) (No 3) Act 2022 (Act A1663).

Frankly Speaking: Make haste in closing anti-party hopping law loopholes

Sultan Abdul Aziz Shah Airport (Subang Airport) in Subang, Selangor — formerly the country’s main gateway — is set to be a bustling hub again.

Frankly Speaking: Resumption of jet operations at Subang Airport needs to be done right

Sarawak certainly had more good reasons to celebrate its 61st year of independence last Monday (July 22).

In conjunction with the celebration, the state saw the inauguration of a new methanol plant in Bintulu and the signing of gas sales agreements — the first after state-owned Petroleum Sarawak Bhd (Petros) became the sole gas aggregator, taking over from Petroliam Nasional Bhd (Petronas).

A major win in Sarawak’s bid to reclaim rights

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Premier: Sarawak expects to ink S&P on Affin Bank deal in a month

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Treasuries rally as data points to a September rate cut

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce & Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.

Miami condo tower moves on from brokers facing rape allegations

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Deputy PM Fadillah pays courtesy visit to Vietnamese PM, strengthens bilateral cooperation

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Wall Street rebounds on tech recovery, small caps jump after benign inflation data

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

Malaysia urges Asean dialogue partners to support ceasefire in Gaza

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

US charges Citron's Andrew Left over alleged multi-million fraud scheme

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Malaysia steps up efforts to finalise South China Sea code of conduct

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

AirAsia X, Capital A, Hibiscus, Dagang NeXchange, ViTrox, Ekovest, Knusford, Alam Maritim, Datasonic, Kumpulan Kitacon, DXN, Homeritz, Westport, MGRC 

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

The prestigious five-star Lexis Hibiscus 2 luxury resort is currently under construction by the KL Metro Group and is expected to be completed by 2029, said Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.

Construction of RM1.6 bil GDV Lexis Hibiscus 2 resort will be completed in 2029

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Upholstery furniture products manufacturer Homeritz Corp Bhd’s (KL:HOMERIZ) net profit surged 46.37% in the third quarter from a year earlier, thanks to higher sales volume and stronger US dollar. &nbsp;

Net profit for three months ended May 31, 2024 (3QFY2024) climbed to RM9.09 million or earnings per share of 1.96 sen, from RM6.21 million or 1.34 sen per share recorded in 3QFY2023. &nbsp;

Homeritz’s 3Q net profit soars 46.37% on higher sales and strong greenback

Cyberview Sdn Bhd has signed three Memoranda of Understanding (MOUs) with three companies to make Cyberjaya a global technology hub.

Chief executive officer Kamarul Ariffin Abdul Samad said the companies involved were Permodalan Negeri Selangor Bhd (PNSB), Selangor Information Technology &amp; Digital Economy Corporation (SIDEC) and digital infrastructure company Equinix Malaysia.

Cyberview signs three MOUs to make Cyberjaya a global technology hub

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce &amp; Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.&nbsp;

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

Kumpulan Kitacon bags RM54.5m job to build houses in Rawang

Penang Port Sdn Bhd (Penang Port) on Friday announced the acquisition of five Kalmar container handling machines to optimise operations and improve service levels.

Penang Port acquires Kalmar container handling equipment to enhance services

A new recruitment of 3,950 staff, comprising 3,200 medical officers, 350 dental officers and 400 pharmacy officers, will be made through contract (interim) appointments, the Ministry of Health (MOH) said.

More than 3,900 contract officers to be appointed in latest recruitment — MOH

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Hungary will face fuel shortages from September if full Russian oil flows are not restored, a government official said on Friday, accusing Ukraine of blackmailing it by partially suspending supplies.

Eastern European Union (EU) members Slovakia and Hungary have been hit by a stop in flows from Russian group Lukoil coming via Ukraine after sanctions were imposed on the company.

Hungary says it will face fuel shortages from September without Lukoil supplies

The government will now determine the locations for distributing subsidised cooking oil packets to retail outlets to prevent further leakage of controlled goods, says Domestic Trade and Cost of Living Minister Datuk Armizan Mohd Ali.

KPDN to set subsidised cooking oil distribution locations to curb leakage — Armizan

Digital Penang has announced the Market Access Thailand programme, which aims to propel Penang’s startups into Thailand’s market and create opportunities for exponential growth and innovation.

Digital Penang announces cross-border startup collaboration with Thailand

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

Sarawak certainly had more good reasons to celebrate its 61st year of independence last Monday (July 22).

In conjunction with the celebration, the state saw the inauguration of a new methanol plant in Bintulu and the signing of gas sales agreements — the first after state-owned Petroleum Sarawak Bhd (Petros) became the sole gas aggregator, taking over from Petroliam Nasional Bhd (Petronas).

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