KUALA LUMPUR (Jun 5): The civil suit against D&O Green Technologies Bhd (D&O) has concluded after its 89.8%-owned subsidiary, Dominant Opto Technologies Sdn Bhd (Dominant), agreed to pay a sum of RM10.16 million to the plaintiff, Geepar Enterprise Sdn Bhd.

According to the filin...

D&O legal tussle with Geepar concluded, subsidiary agrees to pay RM10.2 mil as full settlement

KUALA LUMPUR (June 5): SCH Group Bhd is disposing of a 1½ storey semi-detached factory in Balakong, Selangor for RM4.6 million, proceeds of which will be used for working capital.

The proposed disposal will result in a net gain of about RM2.3 million for SCH Group.

In a bourse...

SCH to sell unused property for RM4.6m for working capital

KUALA LUMPUR (Jun 5): Ekovest Bhd’s joint venture agreement (JVA) with Samling Resources Sdn Bhd to jointly undertake the development and upgrading of the Pan Borneo Highway in the state of Sarawak — Phase 1 for work package contract WPC-02 (Semantan to Sg Moyan Bridge and KSR Interchanges) — wit...

Ekovest-Samling JV for RM2.1 bil Pan Borneo highway job is now void

KUALA LUMPUR (June 5): The FBM KLCI closed 0.03 point lower at 1,755.14 points on local institutional support. At 5pm, the KLCI cut losses from its intraday low of 1,747.76 points after major Asian stock markets ended higher.

Across Bursa Malaysia, 2.73 billion shares were traded for RM...

FBM KLCI cuts losses after Asian markets end higher

KUALA LUMPUR (June 5): Cuscapi Bhd saw its share price rise by 12.9% or 2 sen to 17.5 sen with about 43 million shares traded, following the resignation of its chairman Datuk Mohd Jimmy Wong Abdullah, just two months after his appointment on March 28.

Abdullah also sits on the board of ...

Cuscapi active, up 12.9% after chairman resigns

KUALA LUMPUR: My EG Services Bhd’s (MyEG) share price rebounded from its intraday low of 65.5 sen yesterday, after it issued a clarification regarding the termination of its contract to manage the rehiring of illegal foreign workers in Malaysia.

Its share price fell 23.8% to its intrada...

MyEG shares recover after clarification on ceased project

KUALA LUMPUR (Jun 4): WCT Holdings Bhd has withdrawn a proposal to grant share options to its independent non-executive directors from being put forward for voting in Wednesday’s annual general meeting (AGM).

The decision was made after taking into consideration feedback received from s...

WCT withdraws share options for independent directors proposal

KUALA LUMPUR (June 4): Cymao Holdings Bhd will dispose of two parcels of industrial land for RM12 million cash, which is more than half its market capitalisation at the moment.

According to its filing with Bursa, Cymao Plywood Sdn Bhd, a wholly-owned subsidiary of Cymao, has entered int...

Cymao to sell industrial land for RM12 million cash, more than half its market cap

KUALA LUMPUR (June 4): The FBM KLCI slipped 1.21 points or 0.1% after volatile trade amid foreign selling as investors evaluated Malaysian Government policies and news on global trade and economic data.

At 5pm, the KLCI closed at 1,755.17 points after rising to its intraday high and fal...

FBM KLCI lower after volatile trade

KUALA LUMPUR (June 4): My E.G Services Bhd (MyEG)’s share price has rebounded from its intraday low of 65.5 sen, after it issued a clarification regarding termination of its contract to manage illegal foreign workers for rehiring in Malaysia.

Its share price fell 23.8% to its intraday l...

MyEG rebounds from intraday low after clarification about terminated project

The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.

MYAirline loses licence to operate as commercial airline as CAAM revokes AOC

Chin Hin Group Property Bhd on Wednesday announced that troubled developer YNH Property Bhd has appointed it to develop a 6.49-acre plot of land in Segambut, featuring a potential gross development value (GDV) of RM685.1 million.

YNH aborts sale of Segambut land, appoints Chin Hin Group Property to develop it instead

Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.

Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.

TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions.

CLMT’s 1Q net property income jumps 63% to RM64m, DPU up 37%

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

KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

The strategic collaboration between Sabah Ports Sdn Bhd (SPSB) and DP World, a global port terminal operator, will be a boon to Sabah’s aspiration to promote the Sepangar Bay Container Port (SBCP) as a key transshipment hub in the region, said Chief Minister Datuk Seri Hajiji Noor.

Hajiji: Tie-up between Sabah Ports, DP World to boost state’s aim to become transshipment hub

The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.

High Court bins Musang King farmers’ bid to challenge land eviction notice in Pahang

KUALA LUMPUR (April 24): A meeting with 70 financial fund investors and corporate members at the recently concluded joint investors meeting in London has touched on the Madani government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MOF).

MOF: Meeting with 70 fund investors highlights Madani govt’s action to spur strategic investments

In today’s edition of Evening 5: 00:00 MYAirline loses licence to operate 01:41 New developments, new board to be announced for DNB 02:59 Fernandes to be CEO of Capital A for five more years 04:09 ACE Market-bound Farm Price eyes Singapore expansion05:33 Suria KLCC shrugs off the competition

EVENING 5: MYAirline runs out of time, loses licence to operate

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)

The Civil Aviation Authority of Malaysia (CAAM) has revoked the air operator's certificate (AOC) of cash-strapped low-cost carrier MYAirline Sdn Bhd, effective April 15, after it failed to find a new investor before the April 14 deadline.

JASMINE Loo was the third individual wanted by the authorities, on the Interpol Red Notice list, &nbsp;to return to Malaysia.

More than 10 years on from the first signs of trouble at 1Malaysia Development Bhd (1MDB), there are still a number of individuals who remain on the run, sought ...

Most yet to return to face the music

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

French electronic manufacturing service firm eolane has launched a new manufacturing plant in Kulim Hi-Tech Park, Kedah involving an investment of €8.7 million (RM45 million) for the first phase of the project.

France-based eolane launches RM45 mil facility in Kulim Hi-Tech Park

Chin Hin Group Property Bhd on Wednesday announced that troubled developer YNH Property Bhd has appointed it to develop a 6.49-acre plot of land in Segambut, featuring a potential gross development value (GDV) of RM685.1 million.

Bursa Malaysia closed at a two-year high on Wednesday with the key index rising 0.63%, driven by a positive outlook on the local bourse and amid an upbeat performance by regional peers.&nbsp;

Bursa races to two-year high as investors turn bullish

Tan Sri Muhammad Ikmal Opat Abdullah, founder and controlling shareholder of Widad Group Bhd, has continued to trim his stake in the construction company as well as in IT products and services firm Dataprep Holdings Bhd.

Muhammad Ikmal continues to trim stake in loss-making Widad, Dataprep 

OYO plans to add 100 self-operated hotels in Malaysia in 2024 and will be looking to secure annual to long-term management contracts on a revenue-sharing basis for these properties. This is part of OYO's programme aimed at fostering economic growth in communities via partnerships.&nbsp;

OYO plans to launch 100 self-operated hotels in Malaysia for 2024, with the first in Kota Damansara

The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.

Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co, the world’s largest nickel and stainless steelmaker, agreed to buy the 2,612 sq m (28,111 sq ft) house in the country’s Bin Tong Park enclave, according to a property record seen by Bloomberg News.

Chinese metal tycoon’s heir buys US$62m Singapore mansion

Mah Sing Group Bhd's land acquisition for its third development in Setapak,&nbsp;Kuala Lumpur, namely M Azura, has become unconditional. The developer has three months to pay the balance purchase price of about RM59 million. The land for M Azura was acquired on Dec 8, 2023 for a total cost of RM74.3 million.

Mah Sing's land acquisition for M Azura has become unconditional

Several important developments related to Digital Nasional Bhd (DNB), including the appointment of its board members and the direction of the agency, will be announced on Thursday, said Communications Minister Fahmi Fadzil.

Digital minister to unveil DNB board, announce new developments tomorrow — Fahmi

Some of the world’s biggest energy trading companies are returning to metals, years after getting burnt in the notoriously difficult markets.

World’s biggest energy traders are returning to metals

KUALA LUMPUR (April 24): Construction outfit Fajarbaru Builder Group Bhd has bagged a RM252.26 million contract from WCT Holdings Bhd to undertake Phase 1 of a two-phase development of two blocks of serviced apartments in Johor Bahru.

Fajarbaru Builder bags RM252m construction job in Johor Bahru from WCT

The son of a menteri besar is among six individuals remanded by the Malaysian Anti-Corruption Commission (MACC) here to assist in investigations regarding a case of submitting false documents and claims involving RM600,000 over the past two years.

MB's son among six remanded over document forgery, false claims involving RM600,000

Perlis Menteri Besar&nbsp;Mohd Shukri Ramli confirmed that he knew about his son being arrested by the Malaysian Anti-Corruption Commission (MACC),&nbsp;and will leave it to the authorities to complete their investigation.

Perlis MB knows about son's arrest, leaves it to MACC to investigate

KUALA LUMPUR (April 24): A meeting with 70 financial fund investors and corporate members at the recently concluded joint investors meeting in London&nbsp;has touched on the Madani government’s immediate action to stimulate strategic investment in important technologies, according to the Ministry of Finance (MOF).

KLCCP Stapled Group, controlled by national oil and gas company Petroliam Nasional Bhd, said on Wednesday that it is still actively pursuing and exploring opportunities.

KLCCP Stapled Group on active lookout to expand portfolio

KUALA LUMPUR (April 24):&nbsp;Petronas&nbsp;Chemicals Group Bhd&nbsp;is focused on advancing its growth initiatives and strengthening its operational performance, despite the expectation that 2024 will continue&nbsp;to be a challenging year.

Petronas Chemicals to focus on advancing growth initiatives, strengthening operational performance

Hibiscus Petroleum Bhd said it has completed the drilling of the Bunga Aster-1 exploration well and is expecting its first oil production to begin in May.

Billy Toh

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