<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 30): Scomi Group Bhd said the High Court today approved the winding-up of its wholly-owned subsidiary Scomi Engineering Bhd.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia, Scomi Group said it does not intend to contest the winding-up order.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The group said the court appointed lawyer Lim Tian Huat of Messrs Rodgers Reidy &amp; Co as the liquidator of Scomi Engineering, with costs to be paid out of the subsidiary's assets. &nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Scomi Group said the winding-up of Scomi Engineering will not have any financial or operational impact on the group for the financial year ending June 30, 2020 (FY2020).&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>It added that the assets and liabilities of Scomi Engineering and its subsidiaries have been deconsolidated from Scomi Group’s consolidated financial statement as at June 30, 2019. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Scomi Group also said no material loss is expected to arise from the winding-up of Scomi Engineering.&nbsp;<br />
<br />
On Nov 19, 2018, Scomi Group announced that Scomi Engineering had been served with a winding-up petition by Gemilang Coachwork Sdn Bhd. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The amount claimed was RM7.17 million, which includes costs and interest&nbsp;at the rate of 5%. &nbsp;&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Shares of Scomi Group closed up 0.5 sen or 14.29% at 4 sen per share today, for a market capitalisation of RM38.41 million.&nbsp;</p></div>


KUALA LUMPUR (Jan 30): Scomi Group Bhd said the High Court today approved the winding-up of its wholly-owned subsidiary Scomi Engineering Bhd. 

In a filing with Bursa Malaysia, Scomi Group said it does not intend to contest the winding-up order.

Court approves winding-up of Scomi Engineering

Malaysia plans to introduce "orangutan diplomacy" in its relations with major palm oil-importing countries, offering the animals as trading gifts in an effort to allay concerns about the environmental effects of growing the commodity.

Malaysia eyes 'orangutan diplomacy' with nations that import palm oil

Singapore's biggest bank DBS Group said on Wednesday that it has appointed Ping An Technology's chairman and CEO Eugene Huang as its chief information officer (CIO) effective Friday.

Singapore's DBS appoints Ping An Technology CEO as chief information officer

Shares in Sime Darby Plantation Bhd [KL: SIMEPLT] rose to their highest in two years following its announcement to develop the Tali Ayer estate in Perak into a green industrial park.

Sime Darby Plantation shares surge to two-year high following proposed solar project in Perak

Industronics Bhd said it has been appointed as the project management company to develop a hotel and golf course on a 155-acre parcel of land in Langkawi.

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The emergence of digital banks in Malaysia does not significantly impact traditional banks, primarily due to their limited ability to achieve rapid growth within the initial years of operation.

S&P Global Ratings senior analyst, financial institution ratings, South and Southeast Asia (SSEA), Sue Ong said that the five digital banking licences issued by the Bank Negara Malaysia (BNM) in 2022 do not seem to be a game changer for now.

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Financial planners need to carry out their duty to report any suspicious activities, that might be linked to money laundering, to the authorities, Bukit Aman Anti-Money Laundering Criminal Investigation Division assistant director ACP Foo Wei Min.

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Its South and Southeast Asia financial institutions ratings director Nikita Anand said the agency expects corporate loan growth to revive in 2024.

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The Biden administration is poised to open up a new front in its effort to safeguard US AI from China with preliminary plans to place guardrails around the most advanced AI Models, the core software of artificial intelligence systems like ChatGPT, sources said.

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<p>Former prime minister Tan Sri Muhyiddin Yassin has been granted a temporary release of his passport to visit a sick family member in Australia.</p>

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<p>Shell said on Wednesday it has agreed to sell its refinery and petrochemical assets in Singapore, Asia's main oil hub, to a joint venture between Indonesian chemicals firm Chandra Asri and Swiss miner and commodities trader Glencore.</p>


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<p>The US has revoked licences that allowed companies including Intel and Qualcomm to ship chips used for laptops and handsets to sanctioned Chinese telecoms equipment maker Huawei Technologies, three people familiar with the matter said.</p>


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<p>A Singapore Air Force F-16 jet crashed during takeoff at a military airbase, the Ministry of Defence said on Wednesday.</p>


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<p>Communications Minister Fahmi Fadzil said the government is prepared to engage with the US counterparts to understand the details regarding possible sanctions against Malaysian companies.</p>


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<p>Former National and Johor Darul Ta’zim (JDT) skipper Safiq Rahim became the third National footballer to be attacked within a week, although the JDT player’s attack seemed more of a warning than personal harm.</p>


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<p>KUALA LUMPUR (May 8): Go Hub Capital Bhd (KL:GOHUB), a provider of information technology (IT) services catering to the transportation sector, said on Wednesday that it has received approval for its listing on the ACE Market of Bursa Malaysia.&nbsp;</p>


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<p>SYDNEY/HONG KONG/SINGAPORE (May 8): Global private equity investors and asset managers are readying for billions of dollars worth of mergers and acquisitions (M&amp;As) and investments linked to data centres in the Asia Pacific, as the artificial intelligence (AI) boom fuels demand for digital infrastructure.</p>


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<p>The FBM KLCI was little changed in early trade on Wednesday although it held firm above the 1,600-point level.</p>
