<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 11): Time Dotcom Bhd has inked a definitive agreement with 49%-owned Thai-listed associate Symphony Communication Public Co Ltd to develop a data centre business in Thailand.</p></div>

<div class=newsTextDataWrapInner><p>This follows approval from Symphony’s shareholders for Symphony to invest in a 49:51 joint venture with Time for the business, which was first proposed on June 5.</p></div>

<div class=newsTextDataWrapInner><p>Under the deal, Symphony will acquire 270,039 shares or 49% in Time’s indirect wholly-owned unit AIMS Data Centre (Thailand) Ltd (ADCTH) for RM3.66 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Meanwhile Symphony has agreed to novate its rights and obligations relating to the office lease and the construction and the development of the data centre to ADCTH.</p></div>

<div class=newsTextDataWrapInner><p>Subsequently, Symphony and Time agreed to loan 150 million bahts (RM20.31million) and 156 million bahts (RM21.12 million) respectively to ADCTH for the project.</p></div>

<div class=newsTextDataWrapInner><p>“Time will be able to develop its first AIMS branded data centre in Thailand, to satisfy the regional demands for a data centre presence from its customers and to accelerate its growth outside Malaysia,” Time said.</p></div>

<div class=newsTextDataWrapInner><p>Time’s share price closed unchanged at RM10.80 today, valuing the group at RM6.53 billion.</p></div>


Time Dotcom Bhd has inked a definitive agreement with 49%-owned Thai-listed associate Symphony Communication Public Co Ltd to develop a data centre business in Thailand.

This follows approval from Symphony’s shareholders for Symphony to invest in a 49:51 joint venture with Time for the business, which was first proposed on June 5.

Time Dotcom inks agreement with Thai associate to develop data centres in Thailand

LONDON (May 9): British foreign minister David Cameron urged fellow NATO members on Thursday to meet pledges to spend 2% of GDP on defence, saying a tougher foreign policy is needed in a world more dangerous "than most of us have ever known".

In a wide-ranging speech that touched o...

In 'dangerous world', UK's Cameron says NATO must be tougher, spend more

Strategists at Citigroup Inc downgraded high-flying Chinese equities to neutral, arguing that their recent rally has come despite weakening fundamentals. The team upgraded emerging-market rival India to overweight.

Citi downgrades Chinese stocks, raises India on earnings outlook

Logistics software company Total Dynamic Holdings Bhd has received Bursa Malaysia’s approval to be listed on the LEAP Market by way of introduction.

Logistics software company Total Dynamic gets approval for LEAP Market listing

Singapore’s GIC Pte Ltd, one of the world’s largest sovereign wealth funds, is making an outsized bet on Latin American infrastructure, while targeting smaller technology companies in the region.

Singapore’s GIC bets on Latin American infrastructure companies

KUALA LUMPUR (May 10): United Overseas Bank (Malaysia) Bhd (UOB Malaysia) posted a net profit of RM1.9 billion in financial year 2023 (FY2023), up 44.4% from RM1.3 billion in the previous year, driven by higher operating income.

UOB Malaysia’s FY2023 net profit up 44.4% to RM1.9b

China firmly opposes the abuse of export control tools such as the US entity list, a foreign ministry spokesperson said on Friday, after the US added 37 Chinese firms to a trade restriction list over national security concerns.

China says it firmly opposes US export control tools

Most Asian currencies were heading for weekly declines on Friday, although largely unchanged on the day, while stocks rose on optimism about US rate cuts stirred by fresh signs of a cooling labour market.

Asian currencies set for weekly fall; stocks firm on US rate cut bets

In the next two weeks, students of higher education institutions (IPT) will have access to existing information and findings of research at ministries and government agencies in an effort to strengthen artificial intelligence (AI) technology in the country.

IPT students can access ministries, agencies' research info in two weeks — Anwar

Transport Minister Anthony Loke announced that the redevelopment of the Kuala Lumpur Sentral Station (KL Sentral) will begin later this year.

KL Sentral Station redevelopment project to commence by year end — Loke

South Korea's foreign minister Cho Tae-yul will visit China between Monday and Tuesday next week at the invitation of his Chinese counterpart Wang Yi, Seoul's foreign ministry said on Friday.

South Korea's foreign minister to visit China next week

<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>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>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>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>The Dow Jones Industrial Average closed higher on Thursday, the seventh straight daily advance for the benchmark, as all three major US indexes gained after weekly jobless claims data offered fresh hope for interest-rate cuts.</p>


Dow closes up to make it seven in a row, as jobs data boosts rate-cut hopes

<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 

<p>KUALA LUMPUR (May 10): The Malaysian Anti-Corruption Commission (MACC)said on Friday that the King has consented to the extension of Tan Sri Azam Baki’s contract as chief commissioner at the agency for another one year, beginning May 12, 2024.</p>

<p><em><strong>More to come</strong></em></p>...

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

<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>World stocks rallied on Thursday, led by surging European shares and a larger-than-expected rise in US weekly jobless claims that buoyed interest rate cut hopes, while the dollar eased as the market awaits key inflation data next week.</p>


Asia stocks rally on renewed global rate cut optimism

<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

<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...

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<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>Singapore's second-largest bank Oversea-Chinese Banking Corp (OCBC) posted on Friday a better-than-expected 5% rise in first-quarter profit and forecast its net interest margin at the higher end of a 2.20% to 2.25% range for the full year.</p>


Singapore's OCBC posts record 1Q profit, lifts margin guidance for 2024

<p>CelcomDigi Bhd has completed 44% of its nationwide network integration and modernisation (NIM) 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>
