<div class=newsTextDataWrapInner>SINGAPORE (July 16): Shares of Indonesia coal miner BlackGold Natural Resources have slumped some 32% as at 3.20pm, after allegations of corruption by Indonesia’s anti-graft agency over the weekend.</div>

<div class=newsTextDataWrapInner>The Corruption Eradication Commission (KPK) detained Indonesian lawmaker Eni Maulani Saragih, who is suspected of embezzlement in connection with the construction of BlackGold’s Riau-1 coal-fired power plant project.</div>

<div class=newsTextDataWrapInner>Eni is alleged to have received a bribe from BlackGold shareholder Johanes Budisutrisno Kotjo to smoothen the signing of the contract. Johannes has also been named a suspect for his alleged role in the illicit transaction... <a href="https://www.theedgesingapore.com/blackgold-shares-tumble-32-despite-clarification-bribery-allegations" target="_blank">(Click here to read the full story)</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

SINGAPORE (July 16): Shares of Indonesia coal miner BlackGold Natural Resources have slumped some 32% as at 3.20pm, after allegations of corruption by Indonesia’s anti-graft agency over the weekend.

The Corruption Eradication Commission (KPK) detained Indonesian lawmaker Eni Maulani Sar...

BlackGold shares tumble 32% despite clarification of bribery allegations

COLOMBO (April 24): Iran's President Ebrahim Raisi arrived in Sri Lanka on Wednesday for a brief state visit aimed at strengthening ties, during which he will also open a US$514-million hydropower project.

Iran's Raisi arrives in Sri Lanka to foster ties, open hydropower project

In Jalan Rotan in Kampung Attap, Kuala Lumpur, there is a light yellow building with beautiful graffiti art on one wall. Built in 1912 by influential business tycoon Loke Yew, it was restored in recent years and is now the office of master planning, architecture and landscape design consultancy P...

Designworks: Preserving space and land for posterity

PERCEIVED to be in the ­“inner circle” of fugitive financier Low Taek Jho (Jho Low) in the heist of billions of dollars from 1Malaysia Development Bhd (1MDB), the state-owned company’s former general counsel Jasmine Loo Ai Swan recently recalled life on the run. Conditions were uncertain, even pr...

Traversing Indochina and China, Loo negotiated return while on the run in Myanmar 

The US Department of Justice (DOJ) recommended a 36-month prison sentence for Changpeng Zhao, the former chief executive officer of Binance, the world’s largest crypto exchange.

The sentence “will not just send a message to Zhao but also to the world”, the DOJ wrote in a court filing on Tuesday, adding the price for violating US law “must be significant to effectively punish Zhao for his criminal acts and to deter others”.

US seeks three-year prison sentence for ex-Binance CEO Zhao

The Bank of England (BOE) said on Tuesday that very few banks had a clear idea of their "holistic" exposures to private equity, putting them at risk of a "large loss", and set an August deadline to identify how gaps would be filled.

Bank of England tells lenders to get data on private equity or risk 'large loss'

Carlsberg Brewery Malaysia Bhd, the locally-listed unit of the Danish brewer, confirmed the price increases for its beer products starting this month.

Carlsberg Malaysia raises prices of beers to preserve margin

THE appointment of Prabowo Subianto as the new president of the Republic of Indonesia has the potential to enhance bilateral relations between Malaysia and Indonesia. The relationship between the two countries is already built on a strong foundation, with mutual interests in strengthening cooperation. Prabowo’s interactions with Malaysian counterparts, including his visit to Malaysia and meetings with officials, have highlighted the importance of defence ties and the potential for collaboration in various areas, such as security, economic development and social cooperation.

Rumpun Nusantara: Leveraging Indonesia’s new leadership for bilateral sustainability with Malaysia

Britain's government borrowed more than expected in the 2023/24 financial year, data showed on Tuesday, in bad news for Prime Minister Rishi Sunak who hopes to woo back voters with tax cuts ahead of a national election.

UK budget deficit overshoots, turning fiscal screw on Sunak govt

theedgemalaysia.com highlighted five stocks with momentum at Bursa Malaysia's afternoon close on Wednesday. Two stocks showed positive momentum, while three indicated negative momentum.

Fiamma, Ramssol, Censof, Signature International, and Tex Cycle

Forbes has released its 2024 list of the 10 richest Malaysians.

NEWS: Who are Malaysia’s richest?

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 24)

Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.

The IPO, priced at 24 sen apiece, involves a public issuance of 102 million new shares as well as an offer for sale of 33 million existing shares, according to its prospectus. All in, the listing offers investors a 30% stake in the Johor-based wholesalers and vegetables distributor.

Farm Price starts taking orders for ACE Market IPO to raise up to RM24.48 mil

Analysts predict a decline in earnings for Malaysian automotive companies in 2024, attributed to lower sales volumes and higher operating costs, coupled with the emergence of several Chinese original equipment manufacturers (OEMs) offering attractive pricing.

M'sian automakers expected to feel pinch from lower sales, higher costs, rise of Chinese OEMs

With Malaysia’s 5G outdoor coverage having reached the 80% target for coverage of populated areas (CoPA) at the end of 2023 and after the signing of the share subscription agreements (SSAs) by five mobile network operators (MNOs) on Dec 1, 2023, what’s next for the next stage of 5G deployment in Malaysia?

What’s next for 5G deployment in Malaysia?

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.

AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

E-government services provider MyEG Services Bhd has inked an agreement to collaborate on the launch of a virtual asset fund or Hong Kong virtual assets exchange-traded fund (ETF) products.

MyEG inks partnership to launch Hong Kong virtual assets

Rakuten Trade said NationGate Holdings Bhd may extend its upward trajectory after breaking out from its one-month rectangular pattern on Tuesday.

NationGate may extend upward trajectory, says Rakuten Trade 

Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;

Telco shares lift Bursa higher at midday

Capital A Bhd’s board of directors has decided to extend Tan Sri Tony Fernandes'&nbsp;tenure as the chief executive officer for another five years, and as a strategic adviser to the airlines business, which is poised to be merged into AirAsia X Bhd.

Fernandes to be CEO of Capital A for another five years

One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.

Malaysia to start using QR code at checkpoints with Singapore, report says

Shares of DXN Holdings Bhd surged on Wednesday to its highest in more than a month as analysts continued to urge investors to buy the stock after the health supplement company’s fourth-quarter (4Q) results.

DXN climbs over one-month high, analysts see positive outlook

Global shares rose on Tuesday, with investors on Wall Street focused on earnings reports from the US megacaps, and the yen tumbled to multi-year lows against the dollar and the euro.

Asian shares jump on tech boost; fragile yen on intervention watch

Haily Group Bhd shares continued their uptrend on Wednesday to a near all-time high, after the construction outfit won a RM109.5 million contract for terrace houses in Pontian, Johor.

Haily shares near all-time high after securing RM109.5m housing job

Tesla Inc is accelerating the launch of more affordable models in a bid to arrest a deterioration in its profit margins and sales.

Tesla to accelerate launch of cheaper cars after sales miss

Bursa Malaysia opened higher on Wednesday, tracking Wall Street's upbeat overnight performance, as confidence was buoyed by a spate of solid corporate earnings that many see as a precursor of those from the mega caps which will be reported over the next few days, said an analyst.

Bursa opens higher, tracking overnight Wall Street

The Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.

MACC officer did not ask Najib if he instructed controversial transfer of US$700m to Good Star

US stocks closed higher on Tuesday following positive earnings from top-tier companies and as investors were focused on quarterly results from Magnificent Seven and other megacap growth stocks.

Wall Street closes higher as investors digest earnings, megacap outlook

Meta Bright Group Bhd said its wholly owned subsidiary FBO Land (Serendah) Sdn Bhd and Doople Tech Sdn Bhd have entered a solar supply agreement with Cherengin Hills Sdn Bhd, following its recent collaboration with Doople to form a joint venture (JV) company to bid for renewable energy (RE) projects with a Bumiputera equity requirement.

Meta Bright lands solar supply deal after forming JV company with Doople

This was supposed to be the year that Vietnam reaped the benefits from one of its largest natural gas discoveries.

Xi’s armada is winning the battle for energy in South China Sea

Sunway Putra Hotel Kuala Lumpur marked the commencement of its lobby area refurbishment with a ground-breaking ceremony.