Bank Negara lost RM31.5bil between 1991 and 1994, RCI concludes; PNB says it wants to hold less cash; and Malakoff and Nestle see quarterly earnings shrink. Jaqueline P’ng has the details.</div><div class=inPageAd id=div-gpt-ad-inpage>

EVENING 5: BNM lost RM31.5b in forex scandal, says RCI

KUALA LUMPUR (April 23): The government’s moves to implement targeted subsidies and review the civil service salary scheme are based on the principle of prioritising the interests of the people and the nation, said Communications Minister Fahmi Fadzil.

Fahmi: Govt’s moves on targeted subsidies, civil service new salary scheme prioritise nation’s interest

KUALA LUMPUR (April 23): Construction outfit Haily Group Bhd has secured a RM109.5 million contract to undertake the construction and completion of 332 units of double-storey terrace houses in Pontian, Johor.

Haily bags RM109.5 mil housing jobs in Johor from Gadang’s unit

Leading countries in the Islamic finance space within the Asean region, such as Malaysia and Indonesia, should collaborate in the banking and takaful sectors, as bright prospects are seen for both Islamic finance and financial technology (fintech) in the region, said Bank Negara Malaysia (BNM) deputy governor Adnan Zaylani.

Malaysia, Indonesia should forge alliance to enhance Islamic finance, fintech growth in Asean — BNM

The ringgit closed slightly lower on Tuesday against the greenback after Asian foreign exchange (FX) markets displayed mixed performance against the US dollar.

Ringgit closes lower against US dollar 

DAP will announce its candidate for the May 11 Kuala Kubu Baharu by-election on Tuesday.

Pakatan Harapan (PH) by-election director Ng Sze Han said the candidate selection will take place during Monday night's PH leadership council meeting, chosen from a list of 10 potential candidates previously shortlisted.

DAP to unveil Kuala Kubu Baharu by-election candidate on Tuesday

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 company

Petronas Gas Bhd (PetGas) is committed to creating sustainable value from its core businesses while pursuing growth.

This commitment involves securing high-impact projects by leveraging PetGas’ core competencies and exploring industry-adjacent opportunities, the group stated in a release on Tuesday, in conjunction with its 41st annual general meeting (AGM).

PetGas stresses commitment to sustainability, announces total dividend of 72 sen per share for 2023

Matrix Concepts Holdings Bhd unveiled the second phase of Resort Villa in Bandar Sri Sendayan, Seremban last Friday (April 19).

Matrix Concepts unveils phase two of Resort Villa

Thailand's cabinet on Tuesday approved a plan to select a new slate of senators who will no longer be allowed to vote on who becomes prime minister, removing what has effectively served as a veto for the powerful military on who leads the country.

Thailand to replace military-appointed Senate, reduce its powers

Topmix Bhd, a surface decorative company listed on Tuesday, expects its expansion in the northern region of Peninsular Malaysia to boost its earnings growth.

The northern region, particularly Penang, has seen an influx of foreign investors, leading to higher income levels and rapid development of housing and commercial projects, which all “bode well for Topmix’s expansion plans", said managing director Teo Quek Siang.

Topmix eyes northern region for expansion amid development boom

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)

Ten members of the Royal Malaysian Navy (RMN) were confirmed dead in an incident where two helicopters collided and crashed at the Royal Malaysian Navy (RMN) base in Lumut, Perak on Tuesday morning.

Two helicopters crash in Lumut, 10 confirmed killed — RMN

Shares of Topmix Bhd surged 32% in its trading debut on Tuesday after the surface decorative products company’s initial public offering (IPO) on the ACE Market raised RM31.7 million.

Topmix surges 32% on ACE Market debut

Healthcare stocks still have legs to run following the recent rally and investors should continue to buy hospital operators for their further earnings growth this year, analysts said.

KPJ near record high, IHH surges as analysts bet on more upside

Eight contractors face possible Malaysia Competition Commission (MyCC) fines for alleged bid rigging in 2019, in respect of two tenders of the Public Works Department (JKR) and one tender of the Department of Drainage and Irrigation.

Eight contractors face possible MyCC fines for bid rigging in tenders worth RM473m

Malaysia’s construction tender prices are&nbsp;expected to grow by 3% in 2024, compared to the previous year, driven by various factors such as project type, industry procurement strategy and currency fluctuations, according to a report by global professional services company Turner &amp; Townsend.

Malaysia’s construction tender prices to grow by 3% in 2024, says Turner & Townsend

Indonesian President Joko Widodo and his son, incoming vice-president Gibran Rakabuming Raka, are no longer members of the country's largest party after they backed rival candidate and election winner Prabowo Subianto, a party official said on Tuesday.

Indonesia's biggest party confirms President Jokowi no longer a member after backing Prabowo

Swatch Group (M) Sdn Bhd&nbsp;said the seizure of its 172 rainbow-themed watches had caused much grief to its international reputation, as the renowned Swiss watch maker had always been dutiful citizens of any state where the watches were sold.

Swatch says advocating compassion for LGBTQ is not a crime, seizure illegal

Former Umno Supreme Council member Hizatul Isham Abdul Jalil or better known as Isham Jalil has offered to make an unreserved apology to bring an end to his contempt of court proceedings.

Ex-Umno leader ready to apologise in contempt of court case

ATX Semiconductor Group, a globally renowned semiconductor provider from China, intends to ramp up investment to US$200 million (RM952 million) for its new manufacturing plant in Melaka over the next five years for its second-phase business expansion.

ATX Semiconductor to boost investment in Melaka to RM952m

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

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is still in the pre-qualification stage for the acquisition of national carrier SriLankan Airlines.&nbsp;

However, AirAsia Consulting has yet to submit any price bid since due diligence has not been carried out, its chief executive officer Subashini Silvadas told The Edge on Tuesday.

Capital A’s unit in RFQ process for SriLankan Airlines, no price bid yet

Chinese universities and research institutes recently obtained high-end Nvidia artificial intelligence (AI) chips through resellers, despite the US widening a ban last year on the sale of such technology to China.

China acquired recently banned Nvidia chips in Super Micro, Dell servers, tenders show

Hong Leong Investment Bank (HLIB) has a “trading buy” rating on SDS Group Bhd and said with 33 of its F&amp;B outlets situated across Johor state, and a wholesale segment that is focusing in this region, SDS appears strategically positioned to leverage the burgeoning vibrancy in Johor, propelled further by the continuous influx of visitors from Singapore.

SDS strategically positioned to leverage burgeoning vibrancy in Johor, says HLIB 

CONSTRUCTION firm GDB Holdings Bhd — which has been embroiled in disputes with KSK Group in the last two years over the development of the 8 Conlay project in Kuala Lumpur — appears to be back on investors’ radar, judging by the recent upward trend in its share price.

According to marke...

GDB Holdings a front runner for several jobs

PETALING JAYA (April 23): Tropicana Corp Bhd is partnering with Maybank Islamic Bhd to provide a home financing solution called Maybank Islamic’s HouzKEY.&nbsp;

Tropicana partners Maybank Islamic to offer HouzKEY home financing solution

Datin Seri Rosmah Mansor's appeal against her guilty conviction and sentence over all three counts of graft pertaining to the RM1.25 billion solar hybrid project for 369 rural schools in Sarawak will be heard in October.

October hearing for Rosmah's appeal in solar project graft trial

Malton Bhd has unveiled the final tower (Block B) of River Park, following the successful launch of its previous Tower A and Tower C blocks with more than 70% take-up rate.

Malton unveils River Park's final tower

High crude oil prices&nbsp;caused by&nbsp;tension in the Middle East&nbsp;will help to boost Malaysia's oil and gas exports. However, escalated fuel&nbsp;prices will dampen the country’s economic growth, according to the Socio-Economic Research Centre (SERC).

SERC: Escalated oil price boon and bane for Malaysia

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).