<div class=newsTextDataWrapInner>KUALA LUMPUR: The recent redesignation of CLIQ Energy Bhd as a non-syariah compliant entity by the Securities Commission Malaysia was due to interest income received during the firm’s initial public offering (IPO).</div>

<div class=newsTextDataWrapInner>In a statement to Bursa Malaysia yesterday, the oil and gas entity&nbsp; said it received interest income amounting to RM688,555 via IPO funds deposited in conventional bank accounts.</div>

<div class=newsTextDataWrapInner>The interest income was derived from funds received from selected investors by Maybank Investment Bank Bhd and Hong Leong Investment Bank Bhd during the IPO process prior to transferring the funds to the trust account, CLIQ Energy said. The special purpose acquisition company was listed on Bursa’s Main Market on April 10 last year.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>This article first appeared in The Edge Financial Daily, on December 5, 2014.</div>

KUALA LUMPUR: The recent redesignation of CLIQ Energy Bhd as a non-syariah compliant entity by the Securities Commission Malaysia was due to interest income received during the firm’s initial public offering (IPO).

In a statement to Bursa Malaysia yesterday, the oil and gas entity ...

IPO interest income costs CLIQ Energy syariah-compliance status

Voice TV, a Thai media company owned by former prime minister Thaksin Shinawatra’s family, said it will cease operations next month and lay off about 200 employees including journalists.

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(April 26): The allies of Republican presidential candidate Donald Trump are drafting proposals that would attempt to erode the Federal Reserve's independence if he wins, the Wall Street Journal reported on Thursday, citing people familiar with the matter.

A small group of the fo...

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S P Setia Bhd will launch Casaville, which comprises 38 single-storey bungalows, in its Setia EcoHill township in Semenyih at end-April.

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HOUSTON (April 26): Exxon Mobil Corp missed analysts' estimates on Friday with a 28% year-on-year drop in first quarter profits, as weaker refining margins and lower natural gas prices offset volume gains.

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The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering & Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

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PADANG BESAR (April 26): Communications Minister Fahmi Fadzil said on Friday that the Terengganu government’s decision to reject the Territorial Sea Act 2012 through a motion passed in the State Legislative Assembly (DUN) on Thursday (April 25), has been seen as a cynical and hypocritical act.

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MOSCOW/LONDON (April 26): Russia's central bank held its key interest rate at 16% for the third meeting running on Friday, but raised its inflation forecast for 2024, acknowledging for the first time that it may struggle to reach its 4% target this year.

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Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi's defamation lawsuit against former prime minister Tan Sri Muhyiddin Yassin is headed for a settlement after the two leaders agreed to end a personal dispute between them.

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Gadang Holdings Bhd has secured a RM280 million contract to design and develop the Klang Valley Data Centre Block 2 in Cyberjaya from TM Technology Services Sdn Bhd, a business entity of Telekom Malaysia Bhd.

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Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.

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Maxis Bhd could work with another consortium partner to lower the cost of deploying the second 5G network, even after the recapitalisation of Digital Nasional Bhd (DNB), said RHB Research in a note on Friday.

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Analysts believe Capital A Bhd's proposed restructuring plan will help the group exit the Practice Note 17 (PN17) status and enhance its competitiveness, as well as provide benefits to AirAsia X Bhd's (AAX) shareholders in terms of free warrants and improved company valuation post restructuring.

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The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.

Merger of airlines alone enough to reverse all of Capital A's negative equity, says Fernandes

Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.

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Shares in ViTrox Corp Bhd fell to their lowest in a month, as first-quarter results disappointed investors, while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

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The Securities Commission Malaysia (SC) has updated its Investor Alert List.

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Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.

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RHB Retail Research said YTL Corp Bhd is eyeing to extend the upside movement after it staged a bullish breakout.

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Malayan Banking Bhd (Maybank) has obtained a summary judgement at the High Court here against ACE Credit (M) Sdn Bhd, ACE Corporation (M) Sdn Bhd, and the company directors Datuk Choong Chee Meng and Chang Ai Nee, for defaulting on a RM46.47 million loan given to them by the bank.

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Prime Minister Datuk Seri Anwar Ibrahim on Friday suggested all parties mentioned in a recent report&nbsp;alleging that the government is planning to issue&nbsp;a licence for a casino in&nbsp;Forest City, Johor, to take necessary action&nbsp;against the foreign news agency.

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The country’s&nbsp;fifth-generation (5G) network&nbsp;adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.

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RHB Retail Research said VS Industry Bhd is poised to continue the bullish trajectory after it broke past the key resistance on high volume.

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The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.

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The battle for consumer attention in China's electric car market is being fought over touches of "tech luxury" that car buyers in other markets have never seen.

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Pavilion Real Estate Investment Trust rose to its highest in more than a month&nbsp;after the release of its first-quarter results, while analysts expect the REIT, which mainly manages shopping malls, to benefit further from higher tourist arrivals.