Former 1Malaysia Development Bhd chief executive officer Datuk Shahrol Azral Ibrahim Halmi told the High Court here today that he had not struck a deal with the Malaysian Anti-Corruption Commission and the government to testify against ex-prime minister Datuk Seri Najib Razak in exchange for him (Shahrol) escaping criminal charges linked to the 1MDB-Tanore trial.

Ex-1MDB CEO denies striking deal with MACC to testify against Najib

Former 1Malaysia Development Bhd (1MDB) chief executive officer (CEO) Datuk Shahrol Azral Ibrahim Halmi said today he had never read Billion Dollar Whale, the bestseller which documents the financial exploits of fugitive businessman Low Taek Jho (Jho Low) and how he made off with billions of ringgit from 1MDB.

Shahrol: I have never read ‘Billion Dollar Whale’ and rejected authors’ interview requests

Brazen Sky Ltd, a company incorporated in the British Virgin Islands, was set up by fugitive financier Low Taek Jho (Jho Low) and his associates as part of a ruse to divert 1Malaysia Development Bhd’s (1MDB) investment in PetroSaudi Oil Services Ltd (PSOSL), the High Court was told today.

Brazen Sky was set up as a ruse by Jho Low to divert 1MDB funds, Shahrol says

KUALA LUMPUR: The Tun Razak Exchange (TRX), previously known as the Kuala Lumpur International Financial District, was “vital” for the 13th general election (GE13), former 1Malaysia Development Bhd (1MDB) chief executive officer Datuk Shahrol Azral Ibrahim Halmi testified yesterday.

Fug...

How TRX became vital for 13th general election

KUALA LUMPUR: Former 1Malaysia Development Bhd (1MDB) chief executive officer Datuk Shahrol Azral Ibrahim Halmi told the High Court here yesterday that he was unaware that Aabar Investments PJS Ltd (Aabar BVI), which 1MDB paid US$576.94 million to as a security deposit for a corporate guarantee, ...

Shahrol did not realise US$577m payment was made to ‘fake’ Aabar

Former 1Malaysia Development Bhd (1MDB) CEO Datuk Shahrol Azral Ibrahim Halmi told the High Court today he was not aware Aabar Investment PJS Ltd (Aabar BVI), the company which 1MDB paid US$576.94 million to as security deposit for a corporate guarantee, was not a subsidiary of International Petroleum International Corp (IPIC).

Aabar BVI was in fact a company incorporated by Low Taek Jho — better known as Jho Low — and his associates in British Virgin Islands (BVI).

Shahrol didn't realise US$577m payment was made to 'fake Aabar'

KUALA LUMPUR: HeiTech Padu Bhd is eyeing to secure 10% of the Malaysian software testing market by 2020, as the group aims to set up a new software testing business segment.

According to International Data Corp, the local software testing market is projected to be worth US$2.9 billion b...

HeiTech Padu eyes 10% of software testing market by 2020

KUALA LUMPUR: The government is looking into establishing a single authority to monitor Malaysia’s property market, amid issues of supply and demand mismatch within the affordable housing segment.

According to Second Finance Minister Datuk Seri Johari Abdul Ghani, the definition of affo...

Single authority for property market

KUALA LUMPUR: Prime Minister Datuk Seri Najib Razak has publicly admitted for the first time that there were lapses in governance at troubled investment fund 1Malaysia Development Bhd (1MDB), but pointed out that the government has taken steps to address the matter.

“At 1MDB, it is now ...

Najib admits lapses in governance at 1MDB

The first ICCA Association Impact Masterclass kicked off in Kuching on Friday with 24 Malaysian and international association leaders in line to be awarded the “Association Impact Leadership” Certificate.

ICCA Association Impact Masterclass kicks off in Kuching

The global legal technology market has grown significantly in recent years and generative AI (GenAI) will accelerate this growth, with the market reaching US$50 billion (RM238.88 billion) in value by 2027, according to Gartner Inc.

Global legal tech market will hit US$50b by 2027, says Gartner

(April 25): Shares of Meta Platforms sank 13% on Thursday, sparking a selloff in big technology stocks after the social media firm signaled its costly bet on AI could take years to pay off.

The drop was set to erase nearly $170 billion from the company's market value and triggered ...

Meta sparks tech selloff as AI splurge spooks Wall Street

Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

Vitrox shares on pace for worst day in 18 months as 1Q disappoints

Four of seven ships trapped in Baltimore Harbour since the Francis Scott Key Bridge collapsed last month have cleared the wreckage and are en route to their destinations.

Baltimore’s trapped ships start leaving as new channel opens

Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data centre and PC chips and trails in the surging market for artificial intelligence (AI) components.

Intel forecast misses estimates; shares tumble

China’s top diplomat Wang Yi warned his American counterpart that problems are mounting between the world’s largest economies, as the US threatens Beijing with sanctions for its support of Russia.

China warns Blinken ‘negative factors’ building in US relations

Microsoft beat Wall Street estimates for third-quarter revenue and profit on Thursday, driven by gains from adoption of artificial intelligence (AI) across its cloud services, and the company's shares jumped more than 4% in extended trade.

Microsoft results top Wall Street targets, driven by AI investment

The US plans to award Micron Technology Inc US$6.1 billion (RM29.14 billion) in grants and as much as US$7.5 billion in loans to help the memory-chip maker build new American factories, rounding out a slew of major federal awards for advanced semiconductor manufacturing.

Micron clinches up to US$13.6b in US grants, loans

US Treasury Secretary Janet Yellen said on Thursday the strong dollar reflected the strength of the US economy and high interest rates, insisting that interventions by governments in currency markets were acceptable only in rare circumstances.

Yellen says currency intervention acceptable only in rare situations

Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

AirAsia X, Capital A, ViTrox, PavREIT, Luxchem, Chin Teck, MKHOP, TAS Offshore, Inta Bina, Heineken, Pantech and Infoline Tec 

Wall Street stocks closed lower on Thursday as markets were stunned by data showing slower-than-expected US economic growth and persistent inflation, coupled with a sell-off in large cap stocks triggered by disappointing results from Meta Platforms.

Wall Street stocks fall as weak GDP growth spreads rate-cut gloom

TAS Offshore Bhd’s net profit has leapt by nine-fold year-on-year for the financial quarter ended Feb 29, 2024 (3QFY2024) due to more vessels delivered.

TAS Offshore’s 3Q net profit up nine-fold, shares surge to eight-year high

Harvey Weinstein's 2020 conviction for sexual assault and rape was overturned by New York's highest court, reopening the landmark case that fuelled the #MeToo movement and highlighting the challenges of holding powerful men accountable.

Harvey Weinstein's rape conviction overturned by top New York court

Mercury Securities Sdn Bhd has valued ACE Market-bound Sin-Kung Logistics Bhd at 14 sen based on a 14 times financial year 2025 (FY2025) earnings per share forecast of one sen.

Mercury Securities values ACE Market-bound Sin-Kung Logistics at 14 sen

The Securities Commission Malaysia (SC) has updated its Investor Alert List.

SC adds four entities to Investor Alert List, two being potential clones

EUPE Corp Bhd's net profit surged by 28.9% to RM14.54 million in the fourth quarter ended Feb 29, 2024 (4QFY2024) from RM11.28 million a year ago, underpinned by a higher contribution from the property development division.

EUPE Corp net profit surges 28.9% in 4Q, driven by strong property sales

Hulu Selangor Bersatu action division head has been named as Perikatan Nasional's (PN) candidate for the Kuala Kubu Baharu (KKB) state by-election on May 11.

PN names Hulu Selangor Bersatu acting division head as candidate for KKB by-election

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

YTL Corp eyeing to extend upside movement, says RHB Retail Research 

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

VS Industry poised to continue bullish trajectory, says RHB Retail Research 

The Tesla Inc shareholder who won a court order in Delaware killing co-founder Elon Musk’s US$56 billion (RM267.54 billion) pay package is premature in asking the judge to bar the billionaire from moving the executive-compensation dispute to Texas, the car company’s lawyers argue.

Tesla fires back at investor who doesn’t want pay fight in Texas

Former president Donald Trump’s economic advisers are considering ways to actively stop nations from shifting away from using the dollar — an effort to counter budding moves among key emerging markets to reduce exposure to the US currency, according to people familiar with the matter.

Trump advisers discuss penalties for nations that move away from the dollar

Shares of ViTrox Corp Bhd are headed for its worst day in 18 months as first-quarter (1Q) results disappointed investors while analysts turned increasingly cautious on the semiconductor company’s near-term prospects.

Alphabet announced its first-ever dividend on Thursday and a US$70 billion (RM334.43 billion) stock buyback, cheering investors who sent the stock surging nearly 16% after the bell.

Google parent Alphabet announces first-ever dividend, shares soar

Asian shares rose cautiously on Friday as markets sobered up to the idea that US rate cuts were most likely some time away, while the yen and Japanese government bonds struggled ahead of a closely watched policy decision by the Bank of Japan (BOJ).

Asia stocks, yen tentative with eyes on BOJ decision

China is preparing a United Nations General Assembly resolution that it says is intended to help close gaps between rich and developing countries in the advance of artificial intelligence (AI), an initiative that follows an extensive and ambitious campaign by the US, its biggest AI competitor.

China prepares UN resolution to tap AI for good

One fixture lurking like a troll in Arsenal's Premier League title run-in has probably consumed the thoughts of the club's fans more than any other — Sunday's short trip to arch-rivals Tottenham Hotspur.

Arsenal face derby test with title up for grabs

Foreign states are using UK universities to “steal advantage” by covertly acquiring British intellectual property, the government warned, saying it would explore proposals to protect cutting-edge research and technology.

UK warns universities about research threat from foreign states

The Federal Communications Commission (FCC) said on Thursday it is ordering the US units of China Telecom, China Unicom and China Mobile to discontinue fixed or mobile broadband internet operations in the US.

Agency bars Chinese telecom carriers from offering US broadband services

Intel forecast second-quarter revenue and profit below market estimates on Thursday, sending its shares tumbling roughly 8% as it faces weak demand for its traditional data centre and PC chips and trails in the surging market for artificial intelligence (AI) components.

Ahmad Naqib Idris & Emir Zainul

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Ahmad Naqib Idris & Emir Zainul

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