SINGAPORE: A group of minority shareholders of Magnus Energy shot down all the resolutions put forward at the recent annual general meeting on Oct 30. They ousted three of the directors and blocked the reappointment of the external auditor, as well as the mandate to issue shares to raise funds or pay director's fees.

Now, this group of Magnus Energy’s minority shareholders — including its former managing director Charles Madhavan — are keen to press on.

Penny stock-linked Magnus Energy's past transactions under spotlight as dissenting minorities call for EGM

SINGAPORE (Nov 12): Financial technology firms in Singapore continue to grab the lion’s share of funding in Asean, according to a report by United Overseas Bank (UOB), PwC and the Singapore FinTech Association (SFA).

According to the report, “FinTech in Asean: From Start-up to Scale-up”, fintech companies here received 51% of funding for the region.

Singapore fintech firms grab more than half of funding in Asean — report

SINGAPORE (Nov 5): StarHub saw its earnings rise slightly to S$58.0 million for the 3QFY19 ended September, from S$57.0 million a year ago.

However, the group reported a 1.6% dip in revenue to S$572.6 million during the quarter, from S$582.2 million a year ago.

StarHub reports 1.7% rise in 3Q earnings to S$58 mil despite revenue dip

SINGAPORE (Nov 5): Singapore Airlines saw earnings of S$94.5 million for 2QFY20 ended Sept 30, 2019, 70% higher compared to a year ago.

SIA says this was mainly mainly due to higher contributions from associates and joint ventures of S$78 million, only to be offset by higher finance charges of S$28 million.

SIA 2Q revenue and earnings up despite mixed performances across group

The prosecution in the trial of alleged 2013 penny stock crash masterminds John Soh Chee Wen and Quah Su-Ling has made applications to cross examine former Phillip Securities remisier Joe Tiong Sing Fatt as a “hostile witness”.

A hostile witness is one who deviates from prior statements made to law enforcement officers and gives evidence favouring the accused persons

Prosecution seeks to impeach 'hostile witness'

When Singapore Airlines announced an expanded code-sharing agreement with Malaysia Airlines Bhd on Oct 30, some members of SIA’s KrisFlyer and PPS Club loyalty programmes must have been unhappy.

SIA purists may lament new partnership, Malaysians rooting for Malaysia Airlines to turn around

SINGAPORE (Oct 30): Joe Tiong Sing Fatt, a witness in the trial of alleged 2013 penny stock crash masterminds John Soh Chee Wen and Quah Su-Ling, in court on Wednesday was caught making a series of contradictory statements.

The former Phillip Securities remisier had told the Commercial Affairs Department (CAD) that he had only met Quah once before, at a corporate function.

Witness makes series of contradictory statements, blames 'undue stress'

SINGAPORE (Oct 29): Adeline Cheng Jo-Ee, the ex-girlfriend of alleged 2013 penny stock crash mastermind John Soh Chee Wen, would often take “extreme actions” against people she dislikes or felt betrayed her, prosecution witness Ivy Tan Ai Bee reveal in court on Tuesday.

“[Cheng] always threatened to give people legal letters,” Tan said under cross-examination by Philip Fong, managing director of Eversheds Harry Elias. Fong is the lawyer for Quah Su-Ling, Soh’s alleged co-conspirator and romantic partner.

John Soh’s ex-lover took 'extreme actions,' witness reveals

SINGAPORE (Oct 25): The defence counsels for John Soh Chee Wen and Quah Su-Ling, the alleged masterminds behind the 2013 penny stock crash, in court on Friday sought to suggest that prosecution witness Ivy Tan Ai Bee was more than just a “personal assistant” to Soh’s former romantic partner.

Tan is described as the PA to Adeline Cheng Jo-Ee, the ex-girlfriend of Soh and owner of Alethia Asset Management.

Alleged penny stock mastermind John Soh target of pregnancy plot, defence counsels suggest

SINGAPORE (Oct 21): Millennials prefer owning a car over public transportation or ride sharing, a recent survey found.

More surprisingly, more than 80% of Asian millennials surveyed have also shown interest in car ownership, despite traffic concerns common in most cities in this region.

These findings were revealed in the Millennials and Auto Trends Report released by consultancy firm Duff & Phelps on Friday (Oct 18).

Millennials value car ownership, survey reveals

The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

KLCI up 0.43% with focus on energy, plantation, financial stocks

India began voting on Friday in the world's largest election as Prime Minister Narendra Modi seeks a historic third term in office on the back of growth, welfare, his personal popularity and Hindu nationalism.

India begins voting in gigantic election, Modi seeking historic third term

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

Malaysia's economy grew 3.9% in 1Q2024, advance estimate shows

The planned merger of Axiata Group Bhd, Malaysia’s largest telecommunications company by revenue, with India’s Bharti Airtel Ltd raises concerns as the latter's subsidiary Airtel Lanka is currently a loss-making company, analysts said.

Malaysia’s Axiata merger with Bharti Airtel of India raises earnings concern — analysts

Melaka State Secretary Datuk Zaidi Johari died of a heart attack this morning. He was 54.

According to a statement from the Melaka Chief Minister’s Office, Zaidi breathed his last at about 8.15am at Hospital Melaka here.

Melaka State Secretary Zaidi dies of heart attack

Israel has attacked Iran, three people familiar with the matter said, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.

Israel attacks Iran, Reuters reports, as drones spotted over Isfahan 

Israel was downgraded by S&P Global Ratings, which joined Moody’s Ratings in lowering the nation’s sovereign credit score as geopolitical risks in the Middle East escalated.

S&P joins Moody’s in downgrading Israel on geopolitical risk

North Korea has released a new song praising leader Kim Jong Un for being a "friendly father" and a "great leader", in a move that appears to be part of a propaganda drive to enhance his standing in the reclusive state.

North Korea releases song praising leader Kim as 'friendly father'

Standard Chartered Plc is offering short-term deposit rates of as high as 10% as the lender seeks to attract Chinese customers.

StanChart dangles 10% deposit rate in HK to draw China cash 

China’s Zhejiang Geely Holding Group is selling the entirety of its Class B shares in truckmaker Volvo AB that were worth about 14.46 billion Swedish krona (RM6.2 billion).

Geely to sell US$1.32b of Volvo Truck shares 

Israel has attacked Iran, three people familiar with the matter said, as Iranian state media reported early on Friday that its forces had destroyed drones, days after Iran launched a retaliatory drone strike on Israel.

Shares of Awanbiru Technology Bhd (Awantec) fell as much as 53% on Friday, prompting Bursa Malaysia to suspend the counter’s intraday short selling (IDSS).&nbsp;

Awantec shares plunge 53%, intraday short selling suspended 

PIE Industrial Bhd, whose share price extended its rally to a new all-time high on Thursday on reports that it has secured a new customer, confirmed the matter and said it is expecting the new customer to contribute an additional RM2.5 billion revenue to the group, of which RM1 billion will be recognised as early as next year.

PIE Industrial confirms bagging new client, expects additional RM2.5 bil revenue

The oil-rich Malaysian state of Sarawak in Borneo is aiming to transform itself into a centre for clean hydrogen energy, betting that its ability to harness an abundance of hydropower can help it defy challenges that are clouding the fuel’s prospects elsewhere.

 Sarawak aiming to transform itself into a centre for clean hydrogen energy

Asian shares and bond yields sank on Friday while safe-haven currencies, gold and crude oil jumped after reports of a sharp escalation in Middle East hostilities.

Stocks sink, oil jumps as Middle East attack reports unnerve markets

Apple said on Friday it had removed Meta Platforms' WhatsApp and Threads from its App Store in China after being ordered to do so by the Chinese government, which cited national security concerns.

Apple pulls WhatsApp, Threads from China app store after Beijing order

The Malaysian rubber glove industry has demonstrated resilience and adaptability amidst challenging global dynamics, with optimism for a rebound in 2024, with an anticipated surge to approximately 450 billion pieces by 2027 despite a downturn in 2023, according to the Malaysian Rubber Glove Manufacturers Association (Margma).

Margma optimistic of rebound in 2024, expects surge to 450 billion pieces by 2027

RHB Investment Bank Bhd (RHB IB) on Friday upgraded Public Bank Bhd to “buy” from “neutral”, with a higher target price (TP) of RM4.80 (from RM4.70).

RHB upgrades Public Bank to ‘buy’, raises target price to RM4.80

Malaysia's economy grew by 3.9% in the first quarter of 2024 (1Q2024), as compared to 3.0% in the previous quarter, according to Department of Statistics Malaysia (DOSM) advance gross domestic product (GDP) estimates.

The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.

US stops UN from recognising a Palestinian state through membership

The amount of reserves in banking system — a key determinant for the Federal Reserve to continue shrinking its balance sheet — dropped by the most in two years as Americans paid income tax bills out of their bank accounts.

US bank reserve balances see largest drop since 2022 tax season

Hong Leong Investment Bank (HLIB) expects Bursa Malaysia Bhd’s earnings for the first quarter to rise 34% year-on-year to RM75 million, amid the expectation of higher securities average daily value (ADV) and derivatives average daily contract (ADC).

HLIB sees Bursa Malaysia’s 1Q earnings rising 34% y-o-y 

RHB Retail Research said Inari Amertron Bhd is poised to challenge the RM3.27 resistance level once again, which would make this its fourth attempt this year.

Inari poised to challenge RM3.27 resistance, says RHB Retail Research 

The escalating tensions in the Middle East have influenced market sentiment and shifted investors' emphasis to the energy, finance and plantation sectors, which helped boost the FBM KLCI higher by midday on Friday.

Malaysia’s exports contracted at a slower than expected pace in March mainly due to lower foreign demand for electronics while shipments to China fell, official data Friday showed.

Malaysia’s March exports down 0.8%, imports surge 12.5%

Chinese government-linked hackers have burrowed into US critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI director Christopher Wray said on Thursday.

FBI says Chinese hackers preparing to attack US infrastructure

Bursa Malaysia started the morning trading in positive territory, attributed to broad-based buying in response to a regional recovery, with investors seen focusing on counters with high cash reserves.

Bursa opens higher on buying sentiment

RHB Retail Research said Muhibbah Engineering (M) Bhd may be headed for an uptrend after rebounding strongly from a recent pullback and pushing past the 21-day simple moving average line.

Muhibbah Engineering may be headed for uptrend, says RHB Retail Research 

Cocoa futures hit a new high in New York — topping US$11,000 (RM52,624) a metric tonne — as the pace of processing in chocolate factories holds up even in the face of a global supply crunch and record prices.

Cocoa soars above US$11,000 a tonne as processing pace holds up

Rakuten Trade said United U-Li Corporation Bhd may trend higher after breaking out from its two-week bullish flag pattern with a long white candle on Thursday.

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