<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 13): UMNO president Datuk Seri Ahmad Zahid Hamidi is scheduled to have an audience with the Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah at 5pm on Thursday.</p></div>

<div class=newsTextDataWrapInner><p>UMNO secretary-general Datuk Seri Ahmad Maslan confirmed the matter after a meeting of the party’s Supreme Council Political Bureau at UMNO headquarters at World Trade Centre KL here tonight.</p></div>

<div class=newsTextDataWrapInner><p>“Datuk Seri Zahid Hamidi has been granted an audience by the King at 5pm on Thursday,” he told reporters.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Earlier, the meeting decided that UMNO considered withdrawing itself from supporting Perikatan Nasional (PN) and would give new conditions to the coalition to continue political cooperation in a written agreement to be implemented as soon as possible.</p></div>

<div class=newsTextDataWrapInner><p>This morning, Opposition Leader Datuk Seri Anwar Ibrahim was granted an audience by the Yang di-Pertuan Agong at Istana Negara.</p></div>

<div class=newsTextDataWrapInner><p>In a media conference this evening, Anwar claimed he has the support of more than 120 members of Parliament apart from saying that the Agong would be calling on party heads for input and to confirm the documents submitted by the PKR president.</p></div>


UMNO president Datuk Seri Ahmad Zahid Hamidi is scheduled to have an audience with the Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah at 5pm on Thursday.

UMNO secretary-general Datuk Seri Ahmad Maslan confirmed the matter after a meeting of the party’s Supreme Council Political Bureau at UMNO headquarters at World Trade Centre KL here tonight.

Ahmad Zahid to meet Agong on Thursday

Ares Management Corp and Tor Investment Management won a Singaporean court ruling that found an Indonesian borrower in contempt over a US$200 million (RM947.78 million) private credit loan, marking a rare win for direct lenders grappling with legal complexities in Asia.

Private credit lender Ares wins Singaporean court ruling on Indonesia debtor

Global shares rose to one-month highs on Friday while the dollar held steady, giving commodities a boost, after softer US jobs data gave investors confidence that interest rates will start to decline this year.

Stocks enjoy bounce from rate-cut fever 

Speaking at the launch of CIMB Securities, MoF II Datuk Seri Amir Hamzah Azizan said that its participation in the capital market scene will increase the vigour of the Malaysian financial market

NEWS: MOF II: CIMB Securities will add vigour to the market

CIMB Securities, which had its launch today, says that it is targeting “high” single-digit growth in market share by the end of this year

NEWS: CIMB Securities eyes single-digit growth in market share

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

Lim Oon Kuin, founder of collapsed oil firm Hin Leong Trading Pte., has been convicted of three criminal charges after a lengthy trial in Singapore, the Business Times reported.

Singapore’s oil veteran OK Lim convicted of criminal charges

KUALA LUMPUR (May 10): Property developer Paramount Corp Bhd (KL:PARAMON) said on Friday that it has acquired a 21.54% stake in rival Eco World International Bhd (KL:EWINT) for RM170.61 million in cash, to accelerate its overseas expansion and diversification plan.

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

Chinese electric vehicle maker Zeekr Intelligent Technology priced its US initial public offering (IPO) at the top of its indicated range, raising US$441 million (RM2.1 billion), it said on Friday.

China's Zeekr prices US IPO at top of range to raise US$441m

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

KUALA LUMPUR (May 10): Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Friday:

FBM KLCI slips 0.03% to 1,600.67 on May 10, 2024

<p>Hong Leong Investment Bank (HLIB) Research has a “trading buy” rating on Genting Bhd (KL:GENTING) at RM4.52 with a target price of RM7.12 and said it continues to like Genting for its well-established operational presence across diverse regions, mitigating regulatory and country risks.</p>


HLIB says Genting is undervalued, target price RM7.12

<p>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.</p>


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

<p>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.</p>


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

<p>Shares of MCE Holdings Bhd (KL:MCEHLDG) rose to their highest in at least two decades after the automotive parts manufacturer said Brahmal Vasudevan of private equity firm Creador is its newest substantial shareholder.</p>


MCE Holdings surges to highest in at least two decades

<p>CIMB Securities Sdn Bhd, a unit of CIMB Group Holdings Bhd (KL:CIMB), said on Friday it is targeting “high” single-digit growth in market share by year end.</p>


CIMB Securities eyes single-digit growth in market share by year end

<p>TA Securities has valued ACE Market-bound Smart Asia Chemical Bhd (SAC) at 12 times calendar year 2025 (CY2025) earnings per share (EPS), arriving at a fair value of 54 sen.</p>


TA Securities values ACE Market-bound Smart Asia Chemical at 54 sen 

<p>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.</p>


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

<p>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;</p>


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

<p>Shares of Globetronics Technology Bhd [KL:GTRONIC] surged on Friday as analysts project a promising outlook for the group's earnings in the second half of the financial year 2024 (2HFY2024), despite first quarter performance below consensus expectations.&nbsp;</p>


Globetronics surges to one-month high as analysts project strong outlook for 2HFY2024

<p>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).</p>


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

<p>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.</p>


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

<p>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.</p>


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

<p>Inter-Pacific Research Sdn Bhd said that after a two-day consolidation, the key FBM KLCI index could mount a rebound to end the week on a firmer note.</p>


KLCI seen hovering between 1,600 and 1,610 on Friday

<p>Phillip Capital has maintained its “buy” rating on Pentamaster Corp Bhd (KL:PENTA) at RM4.44 with a higher target price of RM6.23 (from RM5.65) and said Pentamaster’s first quarter of 2024 (1Q2024) core net profit of RM24 million was in line with its and consensus forecasts.</p>


Phillip Capital raises target price for Pentamaster to RM6.23 

<h3>Directors’ duties with respect to&nbsp;financial statements</h3>

<p>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

<p>KUALA LUMPUR (May 10): Bursa Malaysia’s&nbsp;all-time high indicates that measures under the Madani framework are building investor&nbsp;confidence, said Finance Minister II Senator Datuk Seri Amir Hamzah Azizan.&nbsp;</p>


Bursa’s all-time high indicates Madani Framework is building investor confidence — Amir Hamzah

<p>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.</p>


CelcomDigi completes 44% in nationwide network modernisation programme

<p>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.</p>


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

<p>MIDF Amanah Investment Bank started coverage of Allianz Malaysia Bhd (KL:ALLIANZ) with an above-consensus target price of RM23.37, citing stronger-than-average insurance growth and solid dividend yields.</p>


MIDF starts coverage of Allianz Malaysia with above-consensus target price

<p>Entities are expected to submit a declaration of compliance to the Securities Commission on the Guidelines on Technology Risk Management (GTRM) by the first quarter of 2025, as part of the regulator's commitment to promote cyber hygiene practices.</p>
