BAGAN DATUK (Feb 11): The decision by the Federal Court to strike down 16 provisions in the Kelantan Syariah Criminal Code Enactment (1) 2019 on Friday (Feb 9) should not be politicised, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

Ahmad Zahid: Do not politicise apex court’s ruling on Kelantan Syariah Criminal Code

The decision by the Federal Court to strike down 16 provisions in the Kelantan Syariah Criminal Code Enactment (1) 2019 on Friday was solely because they exceeded the jurisdiction granted to the state legislative body (DUN), according to the Department of Syariah Judiciary Malaysia (JKSM).

Syariah Judiciary Dept sees apex court ruling strengthening Islamic law in Malaysia 

The Federal Court, the country's highest court, has jurisdiction to overturn civil laws and shariah laws if they conflict with the Federal Constitution.

Top court has jurisdiction to strike down civil, shariah laws that are in conflict with Constitution — lawyers

PETALING JAYA (Feb 8): The Cooperative Institute of Malaysia (CIM) has been asked to step up its efforts to train cooperative members, especially in management, said Deputy Minister of Entrepreneur Development and Cooperatives Datuk R Ramanan.

CIM needs to train cooperative members, especially in management — Ramanan

One Glove Group Bhd announced that it plans to implement an internal reorganisation of its glove business, including the manufacturing and trading of all types of gloves and related activities.

One Glove proposes internal reorganisation of glove business

Prime Minister Datuk Seri Anwar Ibrahim will visit Kelantan on Thursday to personally check on the flood situation currently affecting the state.

Anwar shared this information through a Facebook post following his meeting with the Prime Minister of Thailand, Srettha Thavisin, in Phuket on Tuesday.

Anwar to check on flood situation in Kelantan on Thursday

KUALA LUMPUR (Nov 29): Rapid KL has denied a viral post that there was an explosion or fire involving a Mass Rail Transit (MRT) train along the Kajang route this afternoon.

Rapid KL in a statement on Wednesday informed that the incident only involved the sound of a spark from train numb...

Rapid KL denies explosion involving MRT train

Bursa Malaysia maintained its upbeat momentum to close the morning session higher in sync with the regional market performance. 

At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 9.05 points to 1,445.54 from Wednesday’s close of 1,436.49.

Bursa remains higher at midday, in sync with regional peers

Former Goldman Sachs banker Roger Ng Chong Hwa is expected to return to Malaysia on Saturday night to help in investigations into the 1Malaysia Development Bhd (1MDB) scandal, said Home Minister Datuk Seri Saifuddin Nasution Ismail.

Former Goldman banker Roger Ng expected to return on Saturday night to help in 1MDB probe — Saifuddin Nasution

The Perak government will maximise the use of the Geographic Information System (GIS) in making any decisions or formulating policies in line with the development of digitalisation.

Perak govt to maximise use of GIS data

Jiankun International Bhd (KL:JIANKUN) has redesignated its president Datuk Saiful Nizam Mohd Yusoff as non-independent and non-executive chairman, effective Friday.

Jiankun redesignates Zahid’s son-in-law Saiful Nizam as chairman 

In today’s edition of Evening 5: 0:06 Paramount buys 21.5% stake in Eco World International from Quek Leng Chan2:02 Azam Baki’s contract as MACC chief commissioner extended for one year3:01 No settlement in sight, Semantan Estate’s appeal to resume in Sept4:20 CIMB Securities eyes single-digit growth in market share by year-end5:39 Sg Bagan shares jump 15% to record high on Great Eastern privatisation bid

EVENING 5: Paramount buys 21.5% stake in EWI from Quek Leng Chan

[Branded] Sunway University achieved a new milestone when it became a first-time host for the Times Higher Education Asia Universities Summit, bringing together over 600 delegates representing the cream of global academia.

NEWS: Sunway University hosts THE Asia Universities Summit 2024

Euro zone inflation remains on track to fall back to 2% next year, so European Central Bank policymakers will likely start cutting interest rates from a record high in June, the account of their April meeting showed on Friday.

ECB set scene for June rate cut at last meeting, account shows

LFE Corp Bhd (KL:LFECORP) has secured an RM8.27 million piling contract from Puncakcity Development Sdn Bhd (PDSB).

LFE secures related-party contract worth RM8m for piling works 

KUALA LUMPUR (May 10): Pharmaniaga Bhd (KL:PHARMA), whose weak financials have just been flagged by its independent auditor for a second consecutive year, assures shareholders that it is committed to financial recovery and has made “strong and steady progress” on it.

Pharmaniaga says it is confident of financial recovery after auditors again flag going-concern issues

KUALA LUMPUR (May 10): Public-private partnerships (PPP) should be enhanced, as this system has been proven to be effective as a catalyst for the country’s development, and its implementation has provided many benefits to the government and the people.

Loke: Public-private partnerships should be enhanced to benefit govt, public

(May 10): Airwallex has held talks with several Middle Eastern sovereign wealth funds to raise capital, as the payment platform startup prepares to join global peers in expanding into the region.

Tencent-backed startup Airwallex courts Middle Eastern wealth funds

MAA Group Bhd (KL:MAA) has acquired an additional 201.48 million shares, or a 4.98% stake, in troubled Practice Note 17 (PN17) company KNM Group Bhd (KL:KNM) for RM33.24 million, or an average price 16.5 sen per share.

MAA raises stake in KNM to 13.54%

Mi Technovation Bhd (KL:MI) saw its net profit more than quadruple to RM26.79 million in the first quarter ended March 31, 2024 (1QFY2024), compared to RM6.4 million in the same period last year.

Mi Technovation’s 1Q net profit jumps over fourfold on higher revenue, forex gains 

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

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.

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

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.

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

KUALA LUMPUR (May 10): Paramount Corp Bhd (KL:PARAMON) bought a 21.54% stake in Eco World International Bhd (EWI)(KL:EWINT) for RM170.61 million in cash.&nbsp;

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

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.

MCE Holdings surges to highest in at least two decades

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.

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

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

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

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.

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

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;

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

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;

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

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).

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

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.

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

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.

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

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.

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

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.

CelcomDigi completes 44% in nationwide network modernisation programme

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;

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

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

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.

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

KUALA LUMPUR (May 10): Bursa Malaysia Securities Bhd (Bursa Securities) on Friday lifted AwanBiru Technology Bhd (KL:AWANTEC), formerly Prestariang Bhd, from its status as an affected listed issuer, after three years.

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