KUALA LUMPUR (Sept 3): SME Bank has appointed Aria Putera Ismail as chief executive officer today.

SME Bank said in a media statement today Aria has over 18 years of progressive experience within the banking and investment industry. SME Bank said Aria specialises in achieving financial ...

Aria Putera Ismail is SME Bank new CEO

KUALA LUMPUR (Sept 3): Sime Darby Plantation Bhd (SDP), which is conducting a strategic review of its loss-making operations in Liberia, will remain prudent with investments, and is likely to incur additional debt to fund cash needs over the next 12 months, said Moody's Investors Service.

...

Moody's: Sime Darby Plantation to remain prudent with investments over next 12 months

KUALA LUMPUR (Sept 3): The Malaysian Anti-Corruption Commission (MACC) said it is "very surprised" by the Penang High Court's decision to acquit Finance Minister Lim Guan Eng and businesswoman Phang Li Koon over an allegation of corruption related to the purchase of a RM2.8 million bungalow on th...

MACC 'surprised' over Guan Eng's acquittal over RM2.8m Penang bungalow case

KUALA LUMPUR: Treasury secretary-general Datuk Seri Dr Ismail Bakar has been appointed as the new Chief Secretary to the government, replacing Tan Sri Dr Ali Hamsa, who retires today.

Prime Minister Tun Dr Mahathir Mohamad handed over the letter of appointment to Ismail at a brief meeti...

Ismail Bakar takes over as Chief Secretary

KUALA LUMPUR: UEM Sunrise Bhd is on track to meet its RM1.2 billion sales target for 2018, its managing director and chief executive officer Anwar Syahrin Abdul Ajib said.

As at end-June, the group’s property sales had already exceeded half of the year’s target.

Anwar Syahrin ...

‘UEM Sunrise on track to meet RM1.2b sales target this year’

KUALA LUMPUR: Loss-making Watta Holding Bhd, whose share price jumped to a record high of 74.5 sen during trading on Monday, said its deputy group executive chairman and chief executive officer (CEO) Datuk Lee Foo San was “exploring certain corporate proposals previously[,] which had been aborted...

UMA query: Watta says CEO exploring certain proposals previously

KUALA LUMPUR: Pos Malaysia Bhd has renewed talks with the ministry of communications and multimedia to raise the postal tariffs to minimise the group’s financial burden and to elevate the welfare of its postal workforce, according to Nomura Securities Malaysia Sdn Bhd.

“Pos Malaysia arg...

‘Pos Malaysia renews talks with govt on postal tariff hike’

KUALA LUMPUR: FGV Holdings Bhd slipped into the red in the second quarter of financial year 2018 ended June 30 (2QFY18), with a net loss of RM23.23 million, compared with a net profit of RM37.26 million a year ago.

Quarterly revenue dropped 18.42% to RM3.44 billion, from RM4.21 billion ...

FGV slips into the red in 2Q, sees challenges ahead

KUALA LUMPUR: FGV Holdings Bhd revealed yesterday that forensic investigations initiated in January this year into six transactions and investment decisions undertaken previously had exposed the group to significant financial loss.

Out of the six transactions, FGV said the forensic inve...

FGV to seek advice on possible legal recourse

KUALA LUMPUR: The Malaysian Anti-Corruption Commission (MACC) has arrested Datuk Hasanah Abdul Hamid, formerly director-general of Malaysian External Intelligence Organisation (MEIO) who wrote a controversial letter to the Central Intelligence Agency (CIA) seeking the US' support for the Barisan ...

MACC arrests ex-intel chief

Jiankun International Bhd (KL:JIANKUN) has redesignated its president Datuk Saiful Nizam Mohd Yusoff as non-independent and non-executive chairman, effective Friday.

Jiankun redesignates Zahid’s son-in-law Saiful Nizam as chairman 

KUALA LUMPUR (May 10): Bursa Malaysia Bhd expects strong equities market performance in 2024, attributed to positive news on foreign direct investment (FDI), notably Microsoft’s US$2.2 billion investment in a cloud and AI hub.

Bursa sees equities market strengthening in 2024 on FDI inflows; optimistic of hitting IPO targets

Sarawak Cable Bhd says it has identified "a strong alternative party" who is interested in spearheading a resuscitation plan for the group, after its plan to regularise its financials with the help of UK-based Serendib Capital Ltd fell through.

Sarawak Cable says it has 'strong' backup after losing Serendib Capital as white knight

Malaysia is ready to continue strengthening relations with Singapore under incoming prime minister Lawrence Wong, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia ready to strengthen ties with Singapore under new PM Wong, says Anwar  

US stocks rose on Friday, as investors eagerly awaited comments from Federal Reserve officials to get more clarity on the US monetary policy path, after economic data this week supported bets of interest rate cuts.

Wall Street gains ahead of Fed officials' remarks; Dow nears 40,000 mark

KUALA LUMPUR (May 10): Ajiya Bhd (KL:AJIYA) has entered into a loan agreement with Chin Hin Group Bhd (Chin Hin)(KL:CHINHIN) to provide a loan of up to RM250 million to Chin Hin.

Ajiya to loan Chin Hin RM250m for acquisition, expansion plans

Muar Member of Parliament (MP) Syed Saddiq Syed Abdul Rahman has filed an application seeking temporary release of his passport to enable him to travel to Singapore and Taiwan.

Syed Saddiq seeking temporary release of passport to travel to Singapore, Taiwan

KUALA LUMPUR (May 10): Genting Singapore Ltd reported on Friday that its earnings for 1QFY2024 had nearly doubled than that of the year earlier.

Genting Singapore nearly doubles 1Q earnings thanks to China-Singapore visa-free travel

BCM Alliance Bhd’s (KL:BCMALL) largest shareholder Kiu Cu Seng has disposed of his entire shareholding of 305.12 million shares, or a 15% stake, in the company.

BCM Alliance’s largest shareholder sells off 15% stake bought via ESOS

PUTRAJAYA (May 10): The Ministry of Finance (MOF) has cautioned the public about potential scams involving the official Rahmah cash aid (STR) or Rahmah basic donation (Sara) lines, where large payments are requested.

MOF: Be wary if you receive calls related to Rahmah cash aid, basic donation

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

KUALA LUMPUR (May 10): Datin Seri Rosmah Mansor faces another legal action, this time revolving around from 1Malaysia Development Bhd (1MDB), SRC International Sdn Bhd and subsidiaries over luxury goods that were allegedly obtained through misappropriated funds.

1MDB, SRC file fresh civil suit against Rosmah over US$350 mil luxury goods

KUALA LUMPUR (May 10): Paramount Corp Bhd (KL:PARAMON) bought a 21.54% stake in Eco World International Bhd (EWI)(KL:EWINT) for RM170.61 million in cash.&nbsp;

Paramount buys 21.5% stake in Eco World International from Quek Leng Chan for RM170.61m, cash

With signs of a simmering settlement with the government in one of the longest-standing civil land disputes in history dissipating, the Court of Appeal (COA) has fixed Sept 19 to hear the appeal by Semantan Estate (1952) Sdn Bhd in its seven-decade dispute over 263.272 acres of land along Jalan Duta that is currently occupied by public properties.

No settlement in sight, Semantan Estate’s appeal to resume in September

Bank Negara Malaysia (BNM) imposed a RM96,250 compound on Habib Jewels Sdn Bhd for non-compliance with the law on anti-money laundering and counter-terror financing.

BNM slaps Habib Jewels with RM96,250 compound for failing to report suspicious transactions

Shares of Sungei Bagan Rubber Co (Malaya) Bhd (KL:SBAGAN) rose as much as 76 sen or 15.29% to a new record high on Friday, following news a privatisation bid for Great Eastern Holdings Ltd, in which it owns a 1% stake.

Sg Bagan shares jump 15% to record high on Great Eastern privatisation bid

SINGAPORE (May 10): Oversea-Chinese Banking Corporation Ltd (OCBC) has announced a S$1.4 billion voluntary unconditional general offer for the 11.56% stake in Great Eastern Holdings (GEH) that it does not currently own.

Singapore’s OCBC makes privatisation bid for Great Eastern with S$25.60 offer price

KUALA LUMPUR (May 10): Personal care products retailer Innature Bhd (KL:INNATURE) said on Friday that it is acquiring the operator of Burger &amp; Lobster restaurants for RM21.25 million in a related-party deal as part of a diversification plan.

Innature to acquire Burger & Lobster operator for RM21.25m from major shareholders

KUALA LUMPUR (May 10): Bursa Malaysia Securities Bhd (Bursa Securities) on Friday lifted AwanBiru Technology Bhd (KL:AWANTEC), formerly Prestariang Bhd, from its status as an affected listed issuer, after three years.

Bursa lifts Awantec from affected issuer status after three years

KUALA LUMPUR (May 10):&nbsp; <a href="https://theedgemalaysia.com/" target="_blank">theedgemalaysia.com</a> highlighted three stocks with positive momentum and five stocks with negative momentum at Bursa Malaysia’s afternoon close on Friday. &nbsp;

Kuchai, VSTECS, AHB, Mclean, Kluang, Prtasco, Skywld, Kobay

Elon Musk touted plans to expand Tesla Inc’s Supercharger network just over a week after firing almost all of the roughly 500 people who ran the business.

Elon Musk changes tune on Tesla Superchargers after mass firing

Tan Sri Azam Baki's contract as chief commissioner of the Malaysian Anti-Corruption Commission has been extended for another year, starting&nbsp;this Sunday (May 12).

Azam Baki’s contract as MACC chief commissioner extended for another year

KUALA LUMPUR/MUMBAI (May 10): Malaysia’s palm oil stocks increased at the end of April for the first time in six months, as production jumped despite a drop in exports, the industry regulator said on Friday.

Malaysia’s palm oil stocks surge as output jumps despite weak exports

KUALA LUMPUR (May 10): Genting Singapore Ltd reported on Friday that its earnings for 1QFY2024 had nearly doubled than that of the year earlier.

Malaysia’s industrial output rose at a faster-than-expected pace in March from a year earlier with the manufacturing sector leading broad gains, the Department of Statistics Malaysia (DOSM) said on Friday.

Malaysia's industrial output grows faster-than-expected in March, official data shows

CelcomDigi Bhd has completed 44% of its nationwide network integration and modernisation&nbsp;programme as it modernised over 7,200 sites as at end-April, leading to improved download speeds of 20% to 26% and better signal strength of 13% to 16% in post-consolidation areas.

CelcomDigi completes 44% in nationwide network modernisation programme

Supermax Corp Bhd’s (KL:SUPERMX) plan to take full control of its loss-making Canadian unit will drag on its balance sheet and income statement, Kenanga Investment Bank flagged.

Supermax's full acquisition of Canadian unit will drag on earnings — Kenanga

<h3>Directors’ duties with respect to&nbsp;financial statements</h3>

In 2011, in the case of Australian Securities and Investments Commission v Healy &amp; Ors, the Federal Court of Australia delivered an important ruling and laid down important principles of law on the standard of care for th...

My Say: Court rulings on chairperson’s and directors’ duties raise cautions for holders of these posts

Automotive cover and seat manufacturer Feytech Holdings Bhd (KL:FEYTECH) said on Friday that investors have snapped up all the 42.16 million shares it made available for application by the public in its initial public offering, ahead of its Main Market debut.

Main Market-bound Feytech Holdings' IPO oversubscribed 15.6 times

Malaysia should move faster to build a robust ecosystem to drive the development and adoption of artificial intelligence (AI) technology in the current post-normal era, said Prime Minister Datuk Seri Anwar Ibrahim.

Sulhi Azman

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