The Malaysian Communications and Multimedia Commission (MCMC) will provide a framework within a month to enable all social media platform providers to register with the agency and facilitate the regulating such platforms in the country.

Fahmi: MCMC working on framework to facilitate registration, regulation of social media platforms

Here is a brief recap of some corporate announcements that made the news on Friday involving Citaglobal Bhd, CelcomDigi Bhd, Maxis Bhd, Telekom Malaysia Bhd, YTL Power International Bhd, Axiata Group Bhd, Pansar Bhd, Apex Healthcare Bhd, Crest Builder Holdings Bhd and Sarawak Consolidated Industries Bhd.

Citaglobal, CelcomDigi, Maxis, TM, YTL Power, Axiata, Pansar, Apex Healthcare, Crest Builder, SCIB

The S&P 500 and Nasdaq fell on Friday as investors were on edge ahead of Federal Reserve chair Jerome Powell's comments that some fear may have a hawkish tilt towards monetary policy.

S&P, Nasdaq slip as caution prevails ahead of Powell comments

US-listed shares of Alibaba Group Holding declined on Friday following a Morgan Stanley downgrade on concerns over slower turnaround in its key businesses, hours after PDD raced past its rival to become the most valuable Chinese e-commerce firm.

Alibaba dips on Morgan Stanley downgrade as PDD grabs spot of most valuable Chinese e-commerce firm

Pavilion Real Estate Investment Trust (Pavilion REIT) has terminated two memoranda of understanding (MOUs) it inked for the purchase of renewable energy (RE) from a solar power plant in Pasir Mas, Kelantan, under the Corporate Green Power Programme (CGPP) to power its malls.

Pavilion REIT cancels MOUs to power Pavilion KL, Intermark and Pavilion Bukit Jalil with renewable energy

Shares of crypto miners and bitcoin-tracking companies climbed in premarket trading on Friday as the world's largest cryptocurrency extended a recent rally to touch a near 19-month high on improving risk appetite.

Bitcoin, up 2% at US$38,410, has been gaining since October on optimism that a potential approval of a spot exchange-traded fund is likely to unleash more capital investments in the digital asset sector.

Crypto stocks set to start December on a high note as bitcoin hits near 19-month high

In today’s edition of Evening 5 — Five telcos have finally inked deals with DNB, and will collectively own a 70% stake in the state-owned entity, while Putrajaya will retain 30% plus a golden share. Meanwhile, PM Datuk Seri Anwar Ibrahim says Digital ID concerns such as personal data leaks and chip implants are unfounded.

EVENING 5: Telcos finally ink DNB deal

A weekly round-up of tanker and dry bulk market (Dec 1, 2023)

Baltic Exchange shipping updates: Dec 1, 2023

Mining firm OM Holdings Ltd, which is dual-listed on Bursa Malaysia and the Australian Stock Exchange, has issued 27.63 million shares, representing a 3.75% stake, in the company to JFE Shoji Corp for A$13.04 million (about RM40.34 million) or A$0.472 sen per share.

Japan-based JFE Shoji takes up 3.75% stake in OM Holdings

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week.

Most read this week

A client of Malaysia’s biggest bank recently discovered that her bank balance had mysteriously increased to more than US$86 million (RM404 million).

Woman discovers over RM404m mistakenly deposited in Maybank account

Digital Nasional Bhd (DNB) is to be 70%-owned by five local mobile network operators (MNOs), while the remaining 30% will be retained by Putrajaya, accompanied by a golden share, according to Communications and Digital Minister Fahmi Fadzil.

Five telcos to collectively own 70% stake in DNB; Putrajaya to retain 30% plus golden share

Bursa Malaysia Securities Bhd has reprimanded Sarawak Consolidated Industries Bhd (SCIB) and two of its former directors, Datuk Mohd Abdul Karim Abdullah and Rosland Othman, for failing to submit the group’s 2021 annual report within the approved timeline.

Bursa reprimands SCIB, fines Abdul Karim and one other RM27,000 each for late submission of annual report

(Dec 1): President Vladimir Putin has ordered the transfer of all the rights to managing St&nbsp;Petersburg’s Pulkovo airport from foreign shareholders that include Germany’s Fraport AG and the Qatari wealth fund by shifting their stakes into a new Russian entity.

Under a decree publish...

Putin seizes rights to St Petersburg Airport from foreign investors

Citaglobal Bhd, in which the Yang di-Pertuan Agong Sultan Abdullah Sultan Ahmad Shah is a substantial shareholder, has together with its consortium partner TIZA Global Sdn Bhd, executed a 40:60 joint development agreement with clean energy player Abu Dhabi Future Energy Company PJSC (Masdar) for a two-gigawatt (2GW) solar farm project in Pahang for US$2 billion (RM9.75 billion).

Under the deal, Citaglobal and TIZA will hold a 40% equity interest in the project, with the remaining 60% held by Masdar. The parties will put in funding for the project's development's cost — which will be determined later — in proportion to their stake in the project.

Citaglobal executes deal with Abu Dhabi energy firm to develop US$2 bil solar farm in Pahang

The ringgit is expected to recover along with other emerging-market currencies once central banks in developed economies are done raising interest rates, according to Bank Negara Malaysia governor Datuk Abdul Rasheed Ghaffour.

BNM chief sees ringgit reprieve as rates peak

After seven turbulent years in Nepal, Axiata Group Bhd is selling its stake in Ncell Axiata Bhd by disposing of its shares in Reynolds Holdings Ltd, which holds an 80% stake in Ncell Axiata, and exiting the country.

Axiata sells Ncell stake and exits Nepal, cites unfair taxation and unfavourable foreign investor protection

Pavilion Real Estate Investment Trust (Pavilion REIT) has terminated two memoranda of understanding (MOUs) it inked for the purchase of renewable energy (RE) from a solar power plant in Pasir Mas, Kelantan, under the Corporate Green Power Programme (CGPP) to power its malls.

Property developer Avaland Bhd (formerly known as MCT Bhd) has redesignated its non-independent non-executive director Apollo Bello Tanco as the group’s executive director (ED) and chief executive officer effective Jan 1, 2024.

Property developer Avaland redesignates Apollo as group ED and CEO, effective Jan 1

Bitcoin soared to its highest price so far this year, as investors took on more risk ahead of comments from Federal Reserve chair Jerome Powell which could give guidance on whether the US is closer to lowering interest rates.

Bitcoin rally pushes largest token to 18-month high

Bursa Malaysia ended the week marginally higher due to late buying, particularly in telecommunications and banking stocks, a dealer said.

Bursa ends marginally higher

PUTRAJAYA (Dec 1): Minister of Communication and Digital&nbsp;Fahmi Fadzil assured the public on Friday that personal data protection and cyber security&nbsp;will always be under control&nbsp;in the&nbsp;implementation of the National Digital Identity, or Digital ID programme.

Digital ID: Public assured of data protection and cyber security — Fahmi

Global stocks edged up on Friday, having closed out their best month in three years the day before, as investor confidence that interest rates will fall next year has lured cash into equities, cryptocurrencies and gold at the expense of the dollar.

Shares rally as investor confidence in Fed cuts grows

Prime Minister Datuk Seri Anwar Ibrahim on Friday hinted at a Cabinet reshuffle this month.

Anwar hints at Cabinet reshuffle this month

Here’s a quick look at some of the stories that made headlines today.

Senior lawyer Datuk Hisyam Teh Poh Teik will be the lead counsel for former Tronoh assemblyman Paul Yong Choo Kiong’s appeal against his conviction, 13 years’ jail and two strokes of the cane for raping his maid in 2019.

Hisyam Teh to lead defence in ex-Tronoh assemblyman Paul Yong's rape appeal

KUALA LUMPUR (Dec 1): Pengurusan Aset Air Bhd (PAAB) has appointed Zulkiflee Omar as its new chief executive officer (CEO),&nbsp;effective Friday.

Pengurusan Aset Air appoints Zulkiflee Omar as new CEO

Country Heights Holdings Bhd has appointed its deputy managing director Dr Ricky Yip Chun Mun as the new acting MD effective Friday (Dec 1).

The appointment follows the recent stepping down of Datuk Mircle Yap Ching Chai, who will now serve as a non-independent non-executive director of the group, the property developer said in a statement.

Country Heights promotes deputy MD to acting MD

Israel's warplanes pounded Gaza on Friday after talks to extend a week-old truce with Hamas broke down, sending wounded and dead Palestinians into hospitals and others onto the streets to seek safety.

Eastern areas of Khan Younis in southern Gaza came under intensive bombardment as the deadline lapsed shortly after dawn, with columns of smoke rising into the sky, Reuters journalists in the city said. Residents took to the road with belongings heaped up in carts, fleeing for shelter further west.

Scores reported killed in Gaza after Israel-Hamas truce collapses

Of all people, former prime minister Tun Dr Mahathir Mohamad should know what is really ailing the ringgit.

The architect of capital controls did the right thing in September 1998 by taking the ringgit off the offshore markets, thus quelling speculation in it. He pegged the ringgit to t...

Alternative Views: Ringgit’s rot started 23 years ago

Over the last three decades of rapid globalisation, global corporations created new supply chains by breaking down production processes and allocating slices of production to locations that could produce them most efficiently. This helped to create production networks that spanned many countries,...

My Say: Accelerating supply chain changes set to benefit Southeast Asia

Future foods” — you know, the kind of food that will increasingly take the place of regular (read: unsustainably produced) food as we know it — are already here, according to several articles I recently came across while doing research on where to eat on my upcoming travels.

Coffee Break: The future of food is not so appealing

RCE Capital Bhd, whose share price has been on an upward trend in recent months, recently had a positive surprise for investors when it said it would raise its dividend payout ratio (DPR) policy to between 60% and 80%, from 20% to 40%, starting from the financial year ending March 31, 2024 (FY202...

RCE Capital’s higher dividend payout ratio raises interest

THE investment landscape has changed drastically post-pandemic. Interest rates are on the rise globally, signalling the end of the cheap money era. Inflation remains high and fears of a global recession still loom. Geopolitical tensions remain a concern.

In such a volatile environment, ...

Investing in a new environment

This week’s data calendar features three Group of 7 (G7) central bank policy decisions, starting with the US Federal Open Market Committee (FOMC) meeting on June 15, followed by the European Central Bank’s (ECB) decision later in the day.

The Week Ahead: US FOMC, ECB and BoJ policy meetings, Najib and son’s final IRB case hearings in focus

Known for its projects in Bangsar, Kuala Lumpur, BRDB Developments Sdn Bhd has also been making its mark down south. The 1,400-acre Bandar Baru Permas Jaya in Johor was launched in 1981 and has been developed for almost 42 years.

In an exclusive interview with City & Country

Cover Story: BRDB gears up for three launches in Bandar Baru Permas Jaya, Johor

THINGS could get worse for the ringgit before it gets better. Analysts see the local currency sliding further against the greenback and the Singapore dollar in the near term, before a reversal of dollar strength in the second half of the year sends the ringgit back to the range of 4.1 to 4.2 to t...

The State of the Nation: Ringgit recovery expected in second half after near-term volatility

First, not many companies issue a profit warning. On this score, Bumi Armada Bhd deserves a pat on the back for alerting investors to operational problems at one of its floating, production, storage and offloading (FPSO) vessels in the North Sea.

Frankly Speaking: Bumi Armada’s perplexing profit warning

PERMODALAN Nasional Bhd (PNB) is believed to be looking at selling its entire stake, and those held under its funds, in UMW Holdings Bhd, according to two sources privy to the matter.

One of the sources says that at least five bidders have thrown their hats into the ring. It is learnt t...

The Edge Malaysia

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