<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 29): Diversified conglomerate Oriental Holdings Bhd saw a series of boardroom changes today and top of the list is the retirement of its chairman and executive director, Datuk Seri Loh Cheng Yean, 71, effective Dec 31, filings with Bursa Malaysia showed.</p></div>

<div class=newsTextDataWrapInner><p>Taking over from Cheng Yean is her nephew, Datuk Loh Kian Chong, 38, who has been re-designated as chairman and executive director from deputy chairman previously. His redesignation will be effective from Jan 1 next year.</p></div>

<div class=newsTextDataWrapInner><p>According to the group's latest filing with the bourse, Kian Chong has a deemed interest of 57.06% in the group via Boon Siew Sdn Bhd, amongst other privately owned companies. Property developer Boon Siew is Oriental Holdings' largest shareholder with a direct 43% stake and 12.34% indirect stake.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Meanwhile, Cheng Yean's daughter, Tan Kheng Hwee, 48, has been appointed executive director. Kheng Hwee will cease to be alternate director to Cheng Yean following the latter's retirement on Dec 31.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Additionally, Datuk Sri Tan Hui Jing, 33, has been re-designated to executive director from non-executive director effective Jan 1 next year. Hui Jing is the son of Datuk Dr Tan Chong Siang, another nephew of Cheng Yean.</p></div>

<div class=newsTextDataWrapInner><p>Oriental Holdings closed up 2 sen or 0.29% at RM6.88, giving it a market capitalisation of RM4.27 billion.</p></div>


KUALA LUMPUR (Dec 29): Diversified conglomerate Oriental Holdings Bhd saw a series of boardroom changes today and top of the list is the retirement of its chairman and executive director, Datuk Seri Loh Cheng Yean, 71, effective Dec 31, filings with Bursa Malaysia showed.

Taking over fr...

Oriental Holdings' chairman retires, to be replaced by nephew Kian Chong

A highly anticipated Bitcoin software update called the “halving” has been completed, dealing a potential blow to the companies that make money by ensuring that the digital currency functions smoothly and securely.

Bitcoin ‘halving’ cuts supply of new tokens in threat to miners

A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.

Philippines wants US, Japan to take over rail deal eyed by China

The World Bank on Friday said that 11 countries have pledged to contribute over US$11 billion (RM52.62 billion) to new hybrid capital and portfolio guarantee instruments designed to expand the bank's financing capacity by US$70 billion over a decade to tackle climate change, pandemics and other global challenges.

World Bank wins US$11b in pledges to boost lending for climate, global crises

Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.

IMF concerned about debt, fiscal challenges facing low-income countries

The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.

Ringgit likely to trade around 4.78 versus greenback next week

Attention this week will be on the March inflation rate, with the Department of Statistics Malaysia (DOSM) slated to put out Consumer Price Index (CPI) — the key gauge for inflation — data on Thursday.

Inflation edged up by a higher-than-expected 1.8% i...

The Week Ahead: Eyes on March inflation, US 1Q GDP and tech earnings

Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".

Fed survey cites inflation, US election as key financial stability risks

Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.

Former IGP Tun Hanif Omar passes away

The Nasdaq and the S&P 500 closed sharply lower on Friday and Treasury yields dipped as investors juggled lacklustre earnings, uncertainties surrounding central bank policy and geopolitical strife.

Nasdaq tumbles, Treasuries dip amid earnings, geopolitical crosscurrents

Oil settled slightly higher on Friday, but posted a weekly decline, after Iran played down a reported Israeli attack on its soil, a sign that an escalation of hostilities in the Middle East might be avoided.

Oil settles slightly higher as Iran plays down reported Israeli attack

<p>KUALA LUMPUR (April 19): Here is a brief recap of some business news and corporate announcements that made the headlines on Friday:</p>

<p>Shares of <strong>Sapura Energy Bhd</strong> have been suspended from trading, pending a material announcement. The suspension took effect from 2.30pm onwa...

Sapura Energy, PIE Industrial, LSH Capital, YX, Westports, Yinson, Sime Darby Property, MISC, Meta Bright, EG Industries, Hextar, Uzma, Nova MSC and Iconic Worldwide

<p>Former inspector general of police Tun Mohammed Hanif Omar died at 2.15am on Saturday. He was 85.</p>


<p>The long-awaited Energy Exchange Malaysia (Enegem) has finally been introduced, along with guidelines on cross-border electricity sales announced by the Ministry of Energy Transition and Water Transformation (Petra) last Monday for exports of green electricity from Malaysia to Singapore and Thailand.</p>


Enegem: Malaysia edges closer to RE exports

<p>All travellers entering or leaving Singapore carrying Physical Currency and Bearer Negotiable Instruments (CBNI) that are valued more than S$20,000 or its equivalent in a foreign currency, must submit the necessary declarations electronically with effect from May 13.</p>


Travellers to and from Singapore carrying over S$20,000 must submit online declaration from May 13

<p>Prime Minister Datuk Seri Anwar Ibrahim arrived in Kota Kinabalu on Friday night for a one-day working visit to the state.</p>

<p>Anwar's plane landed at Terminal Two, Kota Kinabalu International Airport at 11.40pm, where he was greeted by Chief Minister Datuk Seri Hajiji Noor.</p>


Anwar arrives in Kota Kinabalu for one-day visit

<p>KUALA LUMPUR (April 19): Ten individuals suspected of being involved in the case related to an&nbsp;Israeli man who was charged with possessing bullets and trafficking&nbsp;guns, were rearrested under the Security Offences (Special Measures) Act 2012 (Sosma).</p>


Israeli man’s case: 10 individuals rearrested under Sosma

<p>The Nasdaq and the S&amp;P 500 ended lower on Friday as Netflix shares weighed, but American Express (AmEx) kept the Dow afloat after quarterly earnings from both companies, while growing pessimism that the Federal Reserve (Fed) would cut interest rates soon also dented sentiment.</p>


Nasdaq, S&P tumble as Netflix, chip stocks drag; AmEx boosts Dow

<p>Israel's apparent strike on Iran after days of vacillation was small and appeared calibrated to dial back risks of a major war, even if the sheer fact it happened at all shattered a taboo of direct attacks that Tehran broke days earlier.</p>

<p>Prime Minister Benjamin Netanyahu's war cabinet had initially approved plans for a strike on Monday night inside Iranian territory to respond forcefully to last Saturday's missile and drones from Iran, but held back at the last-minute, three sources with knowledge of the situation said.</p>


Israel's Iran attack carefully calibrated after internal splits, US pressure

<p>CIMB Thai Bank PCL’s net profit for the first quarter ended March 31, 2024 (1QFY2024) dropped 24.6% year-on-year to 626.1 million baht from 830.1 million baht, as it reported lower operating income and higher expenses. &nbsp;</p>

<p>The group recorded an 8.4% drop in operating income and an 11.8% increase in operating expenses. The effects of these were partially offset by a 36.9% decline in expected credit loss, according to CIMB Thai president and chief executive officer Paul Wong Chee Kin in a statement. CIMB Group Holdings Bhd has a 94.83% interest in CIMB Thai.</p>


CIMB Thai's 1Q earnings drop 24.6% as operating income falls while opex climbs

<p>Fitters Diversified Bhd has landed a subcontract worth RM26.1 million from a unit of IJM Corp Bhd for fire protection services at the compound of a four-storey logistics hub, including its parking and ancillary buildings, in Shah Alam, Selangor.</p>


Fitters Diversified bags RM26.1 mil fire protection services job

<p>Attention this week will be on the March inflation rate, with the <strong>Department of Statistics Malaysia</strong> (DOSM) slated to put out <strong>Consumer Price Index</strong> (CPI) — the key gauge for inflation — data on Thursday.</p>

<p>Inflation edged up by a higher-than-expected 1.8% i...

<p>Parties in the Unity Government have their methods to ensure a win in the Kuala Kubu Baharu by-election next month, Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.</p>

<p>Ahmad Zahid, who is also Barisan Nasional (BN) chairman, said this was discussed at the Unity Government secretariat meeting on Wednesday.</p>


Unity Govt parties have ways to ensure victory in Kuala Kubu Baharu polls — Ahmad Zahid

<p>The Bank of Japan (BOJ) must tread cautiously in raising interest rates, as some indicators of inflation expectations remain short of its 2% target, the International Monetary Fund's Japan mission chief Nada Choueiri said on Friday.</p>


IMF urges Bank of Japan to tread cautiously in raising interest rates

<p>(April 19):&nbsp;Oyo Hotels is in talks to raise up to US$450 million via dollar bonds, a person familiar with the matter said, as the once-high-flying Indian startup seeks to replace an existing high-cost loan amid delays in its stock-market debut.</p>


Softbank-backed Oyo eyes US$450 mil bond sale for refinancing

<p>A Philippine freight railway project may be built with the support of the US and Japan, an official in charge of it said, as Manila seeks alternative financing deals after dropping funding talks with China.</p>


<p>The ringgit is likely to trade in the same range of around 4.78 against the US dollar next week, as the situation in the Middle East will continue to be under scrutiny by investors, said an analyst.</p>


<p>Persistent inflation and higher-for-longer interest rates were cited as key risks to financial stability in the Federal Reserve's (Fed) latest survey of US central bank contacts, with geopolitical troubles and the 2024 US presidential election also mentioned as "a potentially significant source of shocks".</p>


<p>Shareholders of the International Monetary Fund (IMF) agreed this week on the importance of addressing challenges faced by low-income countries, many of which are facing unsustainable debt burdens, IMF Managing Director Kristalina Georgieva said on Friday.</p>
