SINGAPORE (April 23): The Bank of Singapore (BOS) has appointed Rickie Chan as chief executive of its Hong Kong branch. The appointment was effective April 17. Chan will still remain as head of private banking, Greater China, of BOS’ Hong Kong branch.

Bank of Singapore appoints Rickie Chan as chief executive of its Hong Kong branch

SINGAPORE (April 19): Wilmar International Ltd’s board of directors has appointed former foreign minister George Yeo as a non-executive and independent director with effect from Friday.

Wilmar appoints former Singapore foreign minister George Yeo as non-executive and independent director

Elon Musk said some of the severance packages sent to former Tesla Inc employees as part of its biggest-ever workforce reduction were too low.

Musk apologises for ‘incorrectly low’ Tesla severance packages

Alphabet Inc’s Google has put more than two dozen employees on immediate administrative leave after they were involved in protests against Project Nimbus, a US$1.2 billion (RM5.7 billion) joint contract with Amazon.com Inc to provide the Israeli government with AI and cloud services.

Google fires workers protesting US$1.2b Israeli contract

Alphabet-owned Google is laying off an unspecified number of employees, a company spokesperson said on Wednesday, marking the latest cuts at the technology giant as it cracks down on costs.

Google lays off employees, shifts some roles abroad amid cost cuts

Tesla Inc asked shareholders to vote again on the same US$56 billion (RM268.35 billion) compensation package for chief executive officer Elon Musk that was voided by a Delaware court early this year.

Tesla asks investors to approve Musk’s US$56b pay again

Morgan Stanley and HSBC are cutting dozens of investment banking jobs in the Asia Pacific this week, sources with knowledge of the matter said, as weaker deal activities and sluggish markets in China and Hong Kong weigh on their business prospects.

Morgan Stanley, HSBC cutting dozens of Asia investment banking jobs on deal slowdown

(April 17): US banking giants continued to shed employees in the first quarter, with Citigroup seeing the biggest drop.

Headcount at Citi declined by 2,000 employees after the third-largest US lender completed a sweeping reorganisation aimed at improving profits and reducing manage...

Big banks led by Citi continue layoffs amid pressure to cut costs

KUALA LUMPUR (April 16): The Malaysian Investment Development Authority (Mida) has appointed Sikh Shamsul Ibrahim Sikh Abdul Majid as its new chief executive officer (CEO), effective April 18, 2024.

Mida appoints Sikh Shamsul as new CEO

Stellantis NV CEO Carlos Tavares’ jump in 2023 remuneration is getting pushback as the Jeep maker pursues deep job cuts and tough savings goals in the EV transition.

Stellantis’ US$39m CEO pay draws investor ire amid cuts

Datuk Abdul Rahman Ahmad will return to Permodalan Nasional Bhd (PNB) as its president and group chief executive effective July 1, 2024, the government-linked investment company said.

CIMB’s Abdul Rahman Ahmad returns to PNB as president, group chief executive

KUALA LUMPUR (April 15): Eduspec Holdings Bhd, an education technology products and services provider, has appointed its new substantial shareholder Datuk Kang Pang Kiang as executive deputy chairman, effective Monday.

Eduspec appoints EG Industries CEO as deputy chair as the firms mull plans for a training centre

CVC Capital Partners revived plans for an initial public offering (IPO) in Amsterdam, seeking to raise at least €1.25 billion (RM6.37 billion) with its investors in a listing that potentially paves the way for other private equity firms to go public.

Buyout giant CVC seeks €1.25 billion in long-awaited IPO

Temenos AG said an independent examination found allegations made two months ago by short seller Hindenburg Research about the company’s accounting practices, products and client relationships to be “inaccurate and misleading”.

Temenos says probe finds allegations by short seller Hindenburg not correct

The Ministry of Energy Transition and Water Transformation (Petra), in collaboration with The National Water Services Commission (SPAN), is poised to establish and devise the framework for implementing transformative measures in the water services sector over the next decade.

Fadillah: Petra, SPAN to drive implementation of transformative measures for water services sector

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

KomarkCorp, Topmix, PavREIT, Axis REIT, KIP REIT, Cypark, Crest Builders, Capital A, Gadang, Haily, DXN, Inta Bina, Comfort Gloves, AHB

The fatal collision between two Royal Malaysian Navy helicopters that killed 10 personnel abroad could be due to a failure in the critical points of the aircraft structure, aviation expert Assoc Prof Maj Dr Mohd Harridon Mohamed Suffian said.

Critical point failure could’ve led to fatal Lumut chopper crash, says expert

KOTA BHARU (April 23): The man involved in the shooting incident at the Kuala Lumpur International Airport (KLIA) in Sepang on April 14 will be charged in a Kota Bharu court on Wednesday (April 24), according to the police.

KLIA shooting suspect to be charged in Kota Bharu on Wednesday

Sarawak’s strategic alliances with the UK's leading industry partners in the development of compound semiconductors will drive innovation to increase the capability of microchips to power new technologies and applications, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

Sarawak eyeing partnership with UK companies to boost semicon capabilities

Malaysia's education system must be synonymous with the development of the country, said Higher Education Minister Datuk Seri Zambry Abd Kadir.

Zambry: Education system must be synonymous with country’s development

IPOH (April 23): The post-mortems of 10 victims of the tragedy of two helicopters colliding near the Royal Malaysian Navy (TLDM) base in Lumut, currently being carried out at the Raja Permaisuri Bainun Hospital here, are expected to be completed by Wednesday (April 24) afternoon.

Helicopter tragedy: Victims’ post-mortems expected to be completed on April 24 afternoon

The M503-3 Maritime Operations Helicopter (HOM) that was involved in a crash Tuesday morning was used for the first time in the flyby for the 90th Royal Malaysian Navy (TLDM) Anniversary parade.

Downed HOM chopper used for the first time in flyby, says defence minister 

BENGALURU (April 23): Gold prices extended losses for a second day to hit a more than two-week low on Tuesday, as diminishing fears about an escalation of tensions in the Middle East prompted investors to book profits ahead of key US economic data this week.

Gold drifts lower for second day as Middle East fears subside

Wall Street's main indexes rose on Tuesday as some growth and chip shares gained, while stocks like General Motors and Spotify advanced on upbeat earnings updates ahead of quarterly reports from big technology companies.

Wall Street gains on bright earnings, megacaps' support

The Edge covers former Malaysian Prime Minister Datuk Seri Najib Razak's 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial live.

Najib's 1MDB-Tanore trial live reporting (April 23)

Moomoo Malaysia, an online trading platform, garnered 100,000 clients within six weeks of its launch, making it one of the most downloaded financial mobile applications in Malaysia.&nbsp;

Moomoo Malaysia surpassed 100,000 clients within six weeks of its debut in Malaysia

While Sapura Energy Bhd has resolved one key condition of its reset plan, analysts did not change their recommendations on the group, as there is still an arduous journey ahead for the group to address its balance sheet position.

Sapura Energy not out of the woods yet as large debts still in its way

KUALA LUMPUR (April 23): Malaysia has emerged as the most significant country within Asean for businesses to venture into, as shown by the UOB Business Outlook Study 2024 (SMEs &amp; Large Enterprises).

Malaysia emerges as prime destination for Asean biz expansion — UOB study

KUALA LUMPUR (April 23): Former Sapura Energy Bhd chief executive officer Tan Sri Shahril Shamsudin has settled his defamation lawsuit against Economics Minister Rafizi Ramli out of court.

Ex-Sapura Energy CEO Shahril settles defamation suit against Rafizi

Cypark Resources Bhd said on Tuesday that its 100MW Large Scale Solar 3 (LSS3) hybrid solar plant project in Merchang, Terengganu, will transition to full commercial operations by next month.

In a statement, the group said the plant consists of 83MWac (megawatt, alternating current) ground-mounted solar photovoltaics and 32MWac floating solar photovoltaics.

Cypark's LSS3 solar plant in Terengganu set for commercial operations next month

Construction and engineering contractor Crest Builder Holdings Bhd said it had secured a condominium project valued at RM486 million in Mont Kiara. &nbsp;

The project, awarded by Kiaramas Development Sdn Bhd, involves the construction of three blocks of condominiums with car park podiums in Jalan Desa Kiara.&nbsp;The contract period is 42 months from May 2, according to Crest Builder in a filing with Bursa Malaysia on Tuesday.

Crest Builder bags RM486m condominium project in Mont Kiara

Bursa Malaysia continued its upbeat momentum to end higher for the fifth consecutive day on Tuesday, thanks to buying from local and foreign institutions, said an analyst.&nbsp;

Bursa ends higher on buying support from local and foreign institutions

Apple's smartphone shipments in China tumbled 19% in the first quarter of the year, the worst performance since 2020, as its dominance in the high-end segment came under pressure from Huawei's new product launches, market data showed.

Apple's 1Q smartphone shipments in China tumble 19%, data shows

GLOBETRONICS Technology Bhd, an established outsourced semiconductor assembly and test (OSAT) player, is planning to move up the value chain by diversifying into advanced packaging to ride the wave of rising demand for such services.

It also expects advanced packaging to be its future r...

Globetronics to venture into advanced packaging on back of rising demand

The defence in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial will contest the 25 abuse of power and money-laundering charges levelled against former prime minister Datuk Seri Najib Razak.

Shafee: 1MDB-Tanore charges 'all wrong', will mount challenge

Malaysia still has the advantages for the “China plus one” (China+1) strategy, despite facing rising competition from its neighbouring countries, according to the Socio-Economic Research Centre (SERC).

Malaysia still front runner for China+1 strategy despite rising competition from regional countries, says SERC

KomarkCorp Bhd, which lost its defamation suit against The Edge Communications Sdn Bhd in the High Court last month, is appealing against the court's decision, which found that the media company had not defamed it in an article about the manipulation of penny stocks that was published nearly three years ago.

KomarkCorp appeals against High Court's ruling that The Edge did not defame the company

KUALA LUMPUR (April 23):&nbsp;The Iskandar Regional Development Authority’s (IRDA) target to achieve&nbsp;cumulative investments of RM636 billion by 2030 is among Iskandar Malaysia’s strategies to assist the country in becoming one of the top 30 global economies and the top 12 in global competitiveness.

Iskandar Malaysia’s RM636b investment target to help propel country into world's top 30 economies — PM

The bodies of the 10 victims involved in the mid-air collision and crash involving two helicopters at the Royal Malaysian Navy (RMN) base in Lumut were recovered earlier on Tuesday.

Police confirm all bodies recovered from helicopters' crash

KUALA LUMPUR (April 23): Gadang Holdings Bhd said it will appeal to the Economic Planning Unit (EPU) for a waiver of the Bumiputera equity requirement to facilitate its acquisition of a 21.08-acre land in Kwasa Damansara.

In a bourse filing on Tuesday, the builder-cum-property developer...

Gadang to lodge appeal over Bumi equity requirement in Kwasa Damansara land acquisition 

Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday.

Comfort Gloves Bhd said there was a fire at the glove maker’s newly-built three storey warehouse and packing department in Taiping, Perak on Tuesday morning.

“The cause of the fire and the actual extent of the damage are currently still unknown, pending the completion of police investigations into the fire and issuance of their report,” the group said in a bourse filing.

Comfort Gloves reports fire at new Taiping warehouse

KUALA LUMPUR (April 23): Malaysia Airports Holdings Bhd’s (MAHB) passenger traffic at its airports in Malaysia and Türkiye continued to recover in the first quarter of 2024 (1Q2024), recording 31.37 million in total passenger movements, with international passenger movements surpassing pre-pandemic levels for the first time.

MAHB’s 1Q passenger traffic rose 17% y-o-y, Istanbul airport exceeds pre-pandemic levels

The Malaysian Oil, Gas &amp; Energy Services Council (MOGSC) has called on oil and gas (O&amp;G) stakeholders, especially financial institutions, not to write off O&amp;G services and equipment (OGSE) players in the energy transition agenda, as they still have a role to play.

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