The full statement of former finance minister Tun Daim Zainuddin in response to statements by Prime Minister Datuk Seri Anwar Ibrahim and the Malaysian Anti-Corruption Commission (MACC) on an ongoing investigation against him.

Daim denies wrongdoing, calls investigation 'nothing short of a political witch-hunt'

THE future is in coconut instead of oil palm.” My provocative statement at the Asian Strategy & Leadership Institute dialogue session “Poverty in Malaysia: Reality vs Perception” got a good response from the Minister of Primary Industries. We were discussing the matter of shared prosperity an...

Special Report: The future of agriculture is in technology and innovation

The New Economic Policy started out with the best intentions, but over the years, it has become a polarising policy associated with discrimination on one hand and entitlement as to rights on the other.

In actual fact, the NEP, in its original concept and purpose, is neither of the two.<...

MySay: A new economic policy for a new Malaysia

The late Sanusi Junid was a loyal, reliable and very trustworthy friend, and was absolutely honest. Besides his wife and family, his other love was books. He was never without a book and his house is full of books. When he was the menteri besar of Kedah, he set aside a few acres of land in Langka...

My Say: Sanusi Junid — a loyalist till the end

This article first appeared in The Edge Malaysia Weekly, on December 19 - 25, 2016.

 

I have been asked to share my thoughts on key structural issues facing the country, and what we can do about it. I am most reluctant to put my thoughts into words or sh...

Cover Story: Chronic trust deficit must be addressed

Copper surged to its highest-ever level, extending a months-long rally driven by financial investors who’ve piled into the market in anticipation of deepening supply shortages.

Futures on the London Metal Exchange (LME) jumped more than 4%, taking copper past US$11,000 (RM51,529) a tonne for the first time, before paring some gains in afternoon trading.

Copper hits record above US$11,000 on bets of impending shortage

Binastra Corp Bhd's (KL:BNASTRA) managing director and largest shareholder Datuk Tan Kak Seng has sold a 6% stake in the construction outfit for RM36 million.

Binastra MD offloads 6% stake for RM36 mil

Bright Packaging Industry Bhd’s (KL:BRIGHT) largest shareholder Datuk Ricky Wong Shee Kai, who has been embroiled in a legal battle with the Securities Commission Malaysia (SC), has trimmed his stake in the company after selling 20 million shares or 9.74% stake in the company.

Fugitive businessman Ricky Wong trims stake in Bright Packaging amidst legal woes with SC

Coastal Contracts Bhd (KL:COASTAL) has secured the sale of an offshore support vessel (OSV) and a charter extension for a separate vessel.

Coastal Contracts bags vessel sale, five-year charter extension

The tech-heavy Nasdaq climbed to a record high on Monday, boosted by chipmakers, with highly awaited quarterly results from Nvidia and the Federal Reserve's (Fed) policy meeting minutes this week likely to test Wall Street's record-breaking run.

Nasdaq hits record high on chip boost as Nvidia results in focus

The Magistrate’s Court here on Monday sentenced two men to two months in jail for attempting to trespass into Istana Negara three days ago.

Two men jailed two months for attempting to trespass into Istana Negara

Voters in India’s financial capital Mumbai — home to billionaires, film stars and millions of slum dwellers — went to the polls on Monday, with the opposition alliance making a renewed push to break Prime Minister Narendra Modi’s hold on power.

Mumbai votes in India’s election as opposition gets boost

Engineering, procurement, commissioning and construction (EPCC) work has yet to begin on Toyo Ventures Holdings Bhd’s (KL:TOYOVEN) thermal power plant project in Vietnam, said Sunway Construction Group Bhd (KL:SUNCON).

EPCC work yet to start on Toyo’s Song Hau power plant, says SunCon

JPMorgan Chase predicted it would earn more income from rising interest rates despite uncertainty hanging over the economy, executives said at the bank's investor day on Monday.

JPMorgan expects rising interest income while citing economic risks

Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labour costs and a disastrous unlimited shrimp promotion.
 
The Orlando, Florida-based company filed for Chapter 11 protection on Sunday (May 19), listing assets and liabilities of US$1 billion (RM4.68 billion) to US$10 billion each in its bankruptcy petition. The filing allows the company to keep operating while it works out a plan to repay creditors.

Red Lobster chain goes bankrupt after unlimited shrimp deal

Iran's President Ebrahim Raisi was killed in a helicopter crash, an Iranian official and Mehr news agency reported on Monday. Below is a brief outline of what Iran's constitution says happens when a president is incapacitated or dies in office:

What happens in Iran when a president dies in office?

The High Court has ordered former Mara Corp chief executive officer (CEO) Datuk Badlisyah Abdul Ghani to pay the firm RM3.4 million after finding him guilty for breach of duty during his three-month term with the company, which is the investment and commercial arm of Majlis Amanah Rakyat.

Former Mara Corp CEO ordered to pay RM3.4m to company for breach of duty

AS more investments continue to pour into the data centre (DC) industry, companies are looking to tap opportunities in either the DC construction, fit-out or testing and commissioning segments.

Notably, the artificial intelligence (AI) boom has spurred demand for digital infrastructure,...

Data centre-linked stocks gain traction on news flow

Public Bank Bhd (KL:PBBANK), Malaysia’s third-largest banking group by assets, said on Monday its net profit slipped 3.5% for the first quarter ended March 31, 2024 (1QFY2024) from a year earlier, mainly due to higher personnel costs and higher provisions.

Public Bank's 1Q net profit slips 3.5% on higher costs, provisions

A senior banker from Maybank Investment Bank Bhd, Kevin Davies, is said to be moving to smaller-sized rival RHB Investment Bank Bhd to take on the CEO role, according to at least three industry sources.

“The move is subject to regulatory approvals,” one of the sources tells The Edge.</p...

Maybank senior banker Kevin Davies said to be headed to RHB

Shares in gold-related counters surged on Monday after the precious metal notched a fresh all-time high as investor demand soared across the broader metals market amid increasing optimism that the US will cut interest rates this year.

Poh Kong leads rally in gold-linked stocks as the precious metal hits fresh record

Bursa Malaysia said on Monday it is introducing Trading Reminders, a new tool that highlights unusual trading activity in addition to queries issued over spikes in prices and volumes.

Bursa introduces Trading Reminder flag on top of unusual market activity queries

Maxis Bhd’s (KL:MAXIS) intention to build a second fifth-generation (5G) network could potentially put the group’s financial position and future earnings under pressure, according to analysts.

Maxis' financial position could face pressure from proposed second 5G network, say analysts

theedgemalaysia.com&nbsp;highlighted one stock with positive momentum and 16 stocks with negative momentum at Bursa Malaysia's afternoon close on Monday. &nbsp;

Cahya Mata Sarawak, Willowglen, Oceancash, Excel Force, Manulife, MBSB, MFM, Panasonic, ELK-Desa, Puncak Niaga, BIG Industries, Astral Asia, Niche Capital Emas, Hextar Retail, Arka, AHB, Dataprep

Bumiputera-mandated agencies under the Ministry of Economy will move away from giving out ‘free money’ or grants, to focus on providing financial leverage and assistance for business expansion, its minister Rafizi Ramli said on Monday.

Bumiputera agencies to move away from giving out 'free money', says Rafizi

The government has decided to once again extend the freeze on foreign worker applications, according to Home Minister Datuk Seri Saifuddin Nasution Ismail.

Govt extends freeze on foreign worker applications, no new quota

Malaysia’s exports rebounded at a slower-than-expected 9.1% in April from a year earlier, as a surge in shipments of machineries, chemicals and palm oil offset a decline in deliveries of petroleum products and subdued electronics demand, official data Monday showed.

Malaysia's exports rebound slower than expected in April, official data shows

TWO days can mean a lot in the world of high finance. The minority shareholders of Kuchai Development Bhd (KL:KUCHAI) learnt this the hard way.

Last Tuesday, the shareholders of Kuchai approved a transaction to dispose of all the assets and liabilities in the company to Sungei Bagan Rub...

Kuchai shareholders missed out on bonanza by a mere two days 

Malaysia Airports Holdings Bhd’s (KL:AIRPORT) traffic expanded by 7.6% to 11 million passengers in April 2024, compared with the preceding month's 10.2 million passengers.

MAHB's passenger traffic hit 11 million in April, 7.6% higher month-on-month

Kuala Lumpur Kepong Bhd (KL:KLK), Malaysia’s third-largest palm oil producer by acreage, said on Monday its net profit fell 39% in the second quarter as the same quarter in the previous year was partly inflated by disposal gains.

KLK, Batu Kawan post lower 2Q earnings despite improved performance by plantation segment

Crude palm oil prices (CPO) are expected to range between RM3,700 to RM3,950 this month as seasonal recovery production push prices down, according to the Malaysian Palm Oil Council (MPOC).

CPO prices to range between RM3,700-RM3,950 on seasonal production recovery — MPOC 

Putrajaya is expected to roll out the multi-tier levy mechanism (MTLM) for foreign workers in January next year, according to Human Resources Minister&nbsp;Steven Sim Chee Keong.

Multi-tier levy on foreign workers to be implemented in January 2025, says HR minister

Energy and engineering services firm Kinergy Advancement Bhd (KL:KAB) said on Monday its net profit doubled in the first quarter, thanks to new projects and entities acquired.

Kinergy's 1Q net profit doubles on new projects, entities

Last week was a bad one for the world order. Russia made new military advances in Ukraine, and the US slapped punitive tariffs on Chinese imports. None of that spooked stock market indices, which reached&nbsp;record highs&nbsp;on both sides of the Atlantic.

Pricey stocks overlook the world’s troubles

Ehsan Bina Group has formed a partnership through a Memorandum of Understanding (MOU) with Maybank Islamic Bhd to extend a financing programme called HouzKEY to buyers of ForestHill Residences, a high-rise residential project located in Damansara Perdana, Selangor.

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