<div class=newsTextDataWrapInner>KUALA LUMPUR (Nov 7): Former Selangor Menteri Besar Datuk Seri Azmin Ali&nbsp;has withdrawn a counterclaim against Puncak Niaga Holdings Bhd in the Court of Appeal which relates to its RM14 billion lawsuit against him and his predecessor Tan Sri Khalid Ibrahim.</div>

<div class=newsTextDataWrapInner>“Puncak wishes to announce to the Exchange that the hearing of Datuk Seri Azmin’s appeal to the Court of Appeal against the High Court's decision in dismissing his counterclaim against Puncak that was scheduled on November 5, 2018 was vacated as Datuk Seri Azmin had withdrawn the said appeal,” the company said in a brief filing with Bursa today.</div>

<div class=newsTextDataWrapInner>This comes after almost a year-long lawsuit which started last November when Puncak Niaga filed an RM14 billion lawsuit against Azmin&nbsp;-- who is now the Economic Affairs Minister -- as well as Khalid. The company&nbsp;claimed&nbsp;they had abused their powers in public office during their time as Selangor Menteri Besar by threatening to cause, or attempting to cause, the federal government to invoke the use of the Water Services Industry Act 2006 (WSIA) to force a take-over of the state’s water industry.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Puncak Niaga closed unchanged today at 49.5 sen, for a market capitalisation of RM221.39 million.</div>

KUALA LUMPUR (Nov 7): Former Selangor Menteri Besar Datuk Seri Azmin Ali has withdrawn a counterclaim against Puncak Niaga Holdings Bhd in the Court of Appeal which relates to its RM14 billion lawsuit against him and his predecessor Tan Sri Khalid Ibrahim.

“Puncak wishes to announc...

Azmin Ali withdraws counterclaim appeal against Puncak Niaga

Indonesian president elect Prabowo Subianto received a boost on Thursday after a prominent political party that backed another candidate pledged its support for his administration, moving him a step closer to securing a majority in the new parliament.

NasDem, which won 10% of the vote in February's legislative election, was ready to pledge its "full support" for the next administration, its chief Surya Paloh told reporters after a meeting with Prabowo.

Indonesia's Prabowo closes in on parliamentary majority after rival party pledges support

The Employees Provident Fund (EPF) has announced the implementation of Account 3, named Flexible Account, from May 11.

NEWS: EPF introduces Account 3

Global semiconductor firm Nasdaq-listed TTM Technologies Inc has invested US$200 million (about RM958 million) for its first manufacturing plant in Malaysia.

Nasdaq-listed TTM Technologies invests RM958 mil for manufacturing plant in Penang

Pantech Group Holdings Bhd is considering to list two wholly-owned subsidiaries — Pantech Stainless & Alloy Industries Sdn Bhd and Pantech Steel Industries Sdn Bhd — on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV).

Plans for this are still at the preliminary stage and extensive preparatory work needs to be carried out, Pantech said in a bourse filing on Thursday.

Pantech mulls listing two subsidiaries on Main Market via SPV

PARIS (April 25): French President Emmanuel Macron appealed on Thursday for stronger, more integrated European defences and said the continent must not become a vassal of the United States, as he outlined his vision for a more assertive European Union (EU) on the global stage.

'Europe could die,' Macron warns, as he calls for stronger defences

Construction company Inta Bina Group Bhd has secured a contract worth RM224.8 million to develop a 38-storey business serviced apartment in Subang Jaya.

Inta Bina bags RM224.8m job to build business serviced apartments in Subang Jaya

(April 25): Nasdaq beat estimates for first-quarter revenue on Thursday, driven by strong demand for its financial technology products used by traders and investors to navigate the capital markets.

Revenue from its financial technology unit surged 71% to US$392 million (RM1.9 billion) i...

Nasdaq's revenue beats on strong demand for fintech products

Shares of CapitaLand Malaysia Trust (CLMT) surged on Thursday to its highest in nearly four years while analysts remained upbeat following better-than-expected first-quarter (1Q) results.

CapitaLand Malaysia Trust surges to near four-year high after strong 1Q

Continental AG was fined €100 million (RM512 million) for failing to prevent that its staff participated in the diesel emissions fraud as the auto supplier works through a range of governance issues.

Continental fined €100m over role in diesel emission scam

MKH Oil Palm (East Kalimantan) Bhd (MKHOP), the plantation arm of property developer MKH Bhd, reported RM16.02 million net profit on the back of RM86.05 million revenue for the second quarter ended March 31, 2024 (2QFY2024), ahead of its listing on Bursa Malaysia’s Main Market.

MKH Oil Palm posts RM16 mil net profit in 2Q, q-o-q up 44% ahead of Main Market listing

KUALA LUMPUR (April 25): Members of the the Employees Provident Fund (EPF) who are below 55 years old will have an Account 3 starting from May 11, from which they can make withdrawals at any time for any purpose —&nbsp;subject to a minimum withdrawal amount of RM50. This is on top of the two existing accounts they currently have for retirement savings.&nbsp;

EPF members under age 55 will have Account 3 starting May 11

Malaysia is in early discussions with tycoons on opening a casino in Forest City, people familiar with the matter said, in a bid to revive the beleaguered US$100 billion (RM478.35 billion) property project that counts the country’s monarch as one of its shareholders.

Malaysia is said to mull casino resort to revive Forest City

Shares of YTL Corp Bhd rallied to a new all-time high on Thursday after Hong Leong Investment Bank (HLIB) flagged more upside even after a 42% year-to-date surge.

YTL Corp rallies to new all-time high after HLIB flags more upside

Digital Nasional Bhd (DNB), the state-owned company in charge of the 5G network infrastructure rollout, on Thursday named five new board members, comprising senior leaders from the telecom and technology industries.

Digital Nasional names senior telco and tech leaders as new directors

A made-in-China electric vehicle (EV) will hit US dealers this summer offering power and efficiency similar to the Tesla Model Y, the world's best-selling EV, but for about US$8,000 (RM38,228) less.

How Volvo landed a cheap Chinese EV on US shores in a trade war

Sports retailer Al-Ikhsan Sports Sdn Bhd, in which state-owned private equity firm Ekuiti Nasional Bhd (Ekuinas) owns a 35% stake, has appointed Datuk Hishammudin Hasan as its new chief executive officer effective April 17.

Ekuinas-backed Al-Ikhsan Sports names former 7-Eleven head as CEO

Wireless carrier Axiata Group Bhd and conglomerate PT Sinar Mas Group are moving forward with plans to merge their telecommunications operations in Indonesia, people familiar with the matter said.

Axiata, Sinar Mas move closer to US$3.5b telco merger, Bloomberg reports

KUALA LUMPUR (April 25): Mega First Corp Bhd shares have likely peaked following a recent rally to new all-time highs, and investors should stop buying the stock now, Maybank Investment Bank (Maybank IB) said and downgraded the stock to ‘hold’.

Maybank IB is the first from a total of fi...

Mega First shares likely peaked; Maybank IB the first to downgrade stock

Prime Minister Datuk Seri Anwar Ibrahim on Thursday denied claims that the government will issue a licence for the operation of a casino in Forest City, Johor.

PM denies claims that govt issuing casino licence for Forest City

Housing and Local Government Minister Nga Kor Ming’s press secretary Pang Sock Tao was announced as the unity government’s candidate for the Kuala Kubu Baharu by-election on May 11.

Nga's press secretary Pang picked as unity govt's candidate for Kuala Kubu Baharu by-election

KUALA LUMPUR (April 25): Agricore CS Holdings Bhd, a food ingredients supplier, has obtained approval from Bursa Malaysia Securities Bhd to list on its ACE Market.

Agricore CS Holdings gets Bursa Malaysia nod to list on ACE Market

JOHOR BAHRU (April 25): The Johor branch of the Malaysian Quarantine and Inspection Services Department (Maqis) found parasitic worms Anisakis sp in samples of sardine cans from China that were brought in through the Sultan Iskandar Building (BSI) here, earlier this month.

Parasitic worms Anisakis sp found in canned sardines from China — Johor dept

Malaysia’s consumer inflation came in lower than expected in March from a year earlier as prices of healthcare and food rose at a slower pace, official data on Thursday showed.

The Consumer Price Index — Malaysia’s main gauge of inflation — rose 1.8% year-on-year, according to the Department of Statistics. The headline figure was a tad lower than the median 2% rise predicted in a Bloomberg survey of economists, and unchanged versus February’s 1.8% gain.

Malaysia’s inflation steady at 1.8% in March

IOI Properties Group broke ground on Thursday for Senna Puteri, its latest township development located in Sepang, Selangor. The developer is looking to launch 386 units of townhouses in its first phase before the end of the second quarter.

Spanning 117 acres in southern Klang Valley, the 12-phase Senna Puteri will be developed over the next 10 years, offering residential, commercial, recreational areas, green spaces, community hall, surau and more. It has a gross development value (GDV) of over RM3 billion.

IOI Properties breaks ground for 117-acre Senna Puteri in Sepang

The Malaysian Anti-Corruption Commission (MACC) has confirmed that former prime minister Tun Dr Mahathir Mohamad is among individuals under investigation by the commission.

Azam Baki confirms Dr M among individuals under MACC probe

The Court of Appeal has allowed a bid by Tan Sri Muhyiddin Yassin to have a bench of five judges to hear his review application to restore his acquittal by the High Court of four of his abuse of power charges last year.

His lawyer Chetan Jethwani said that Court of Appeal deputy registrar Muhammad Noor Firdaus Rosli informed the parties of the matter on Thursday morning during case management.

Appellate court grants Muhyiddin five-member bench for review of charges

RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.

Naim Holdings likely to resume its uptrend, says RHB Retail Research 

RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.

NationGate is observing technical breakout, says RHB Retail Research 

Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.

Singapore's Keppel profit rises on strong infra, connectivity performance

KUALA LUMPUR (April 25): Former prime minister Datuk Seri Najib Razak had never instructed 1Malaysia Development Bhd’s (1MDB) management to transfer a total US$1.03 billion to Good Star Ltd, a company linked to the fugitive Low Taek Jho (Jho Low), the court heard on Thursday.