Datuk Seri Najib Razak's lawyer today accused former 1Malaysia Development Bhd chief executive officer Datuk Shahrol Azral Ibrahim Halmi of receiving kickbacks from Goldman Sachs for arranging the bank to be the financial adviser for 1MDB's RM10.64 billion acquisition of Tanjong Energy Holdings Sdn Bhd.

Shahrol accused of receiving kickbacks from Goldman for brokering RM10.64b Tanjong Energy acquisition

National Audit Department director Datuk Nor Salwani Muhammad has denied that she was conferred a datukship solely because of her role in exposing the alleged tampering of the original audit report of the scandal-hit 1Malaysia Development Bhd.

Nor Salwani: I was nominated for Datukship even before I testified against Najib

Former Prime Minister Datuk Seri Najib Razak will be attending his wife Datin Seri Rosmah Mansor's trial tomorrow as a show of "emotional support" when the High Court delivers its decision on whether she should be called to enter her defence over the three counts of graft she has been charged with.

This is as the judge presiding over his trial in the 1Malaysia Development Bhd (1MDB)-Tanore case has allowed the hearing tomorrow to start a bit later, pending the High Court's decision in Rosmah's case

Najib to attend Rosmah's trial tomorrow for 'emotional support' as court decides on whether to call for her defence

High Court judge Justice Collin Lawrence Sequerah, who is presiding over the 1Malaysia Development Bhd (1MDB)-Tanore trial, has dismissed the application made by the accused Datuk Seri Najib Razak to postpone the trial this week.

1MDB-Tanore trial: Judge turns down Najib's request to delay trial this week

Former 1MDB chief executive officer Mohd Hazem Abdul Rahman has denied being involved in the US$3 billion fundraising exercise undertaken by the state fund in 2012, contradicting an earlier statement by his predecessor Datuk Shahrol Azral Ibrahim Halmi.

Hazem denies involvement in 1MDB fundraising exercise as claimed by Shahrol

Several 1Malaysia Development Bhd (1MDB) meetings involving senior officials were held at purported master conspirator Low Taek Jho's apartment as he could not be seen at the government fund’s office giving advice, the High Court heard today.

1MDB’s senior executive meetings held in Jho Low's apartment at Jalan Kia Peng

Despite being aware of possible elements of criminal wrongdoing in 1Malaysia Development Bhd (1MDB), its former chief executive officer (CEO) said he went along with the instructions given to him by purported master conspirator Low Taek Jho (Jho Low) as the ex-CEO was fearful of then prime minister Datuk Seri Najib Razak.

I didn't tell 1MDB board the truth as I was scared of Najib — ex-CEO

Former prime minister Datuk Seri Najib Razak instructed his Cabinet during a meeting in 2010 to keep mum about the "donation" from Saudi Arabia's crown prince Prince Saud Abdulaziz Al-Saud to 1Malaysia Development Bhd's (1MDB) charity arm Yayasan 1MDB, a prosecution witness told the High Court here today.

Najib told Cabinet to keep Arab donation to Yayasan 1MDB under wraps, witness claims

The Parliament of Malaysia clarified today that the Covid-19 test results have shown that all parliamentary staff are negative and free from Covid-19 infection. 

In a statement, Parliament said the Covid-19 screenings were performed by the Ministry of Health (MoH) on Oct 28 and 30, involving all officers and staff of the Parliament, including auxiliary policemen, who are stationed there.

All MPs, Parliament staff tested negative for Covid-19

Former 1Malaysia Development Bhd (1MDB) chief executive officer Mohd Hazem Abdul Rahman was offered almost triple his salary in his previous company to join 1MDB, the High Court heard today.

Hazem was offered triple pay bump to join 1MDB; last drawn salary RM97,000 as CEO

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

Honda Motor Co will spend C$15 billion (US$11 billion or RM52.54 billion) to build out its electric vehicle (EV) supply chain in Canada, with billions of dollars of financial aid from government, as the Japanese automaker seeks to tap long-term demand in the region.

Honda to spend US$11 bil on EV strategy in Canada

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

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 

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

US economic growth for the first quarter could be revised higher and inflation will ease to more normal levels, Treasury Secretary Janet Yellen told Reuters on Thursday after a clutch of "peculiar" factors held the economy to its weakest showing in nearly two years.

US growth may get revised up, inflation will ebb

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

CGS International has cut its earnings estimate for Inari Amertron Bhd as recent data flagged weakened smartphone demand, according to its research note on Thursday.

CGS International cuts Inari Amertron earnings forecast on weak smartphone demand

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.

AirAsia X to buy Capital A's aviation business for RM6.8b via share and debt deal 

In today’s edition of Evening 5: 00:00 EPF unveils the details of flexible Account 3 02:07 AAX to buy Capital A’s airline business for RM6.8 bil 03:47 DNB adds five new members to its board 04:58 PM denies claims about a Forest City casino 05:51 Pantech mulls listing two subsidiaries

EVENING 5: EPF unveils the details of flexible Account 3

AirAsia X Bhd (AAX), which will be taking over Capital A Bhd's aviation business, has announced the mechanics of its plan via a bourse filing on Thursday.

The Malaysian Anti-Corruption Commission (MACC) has confirmed that former prime minister Tun Dr Mahathir Mohamad is among individuals under investigation by the commission.

Azam Baki confirms Dr M among individuals under MACC probe

Chin Teck Plantations Bhd’s net profit surged sevenfold for the financial quarter ended Feb 29, 2024 (2QFY2024) thanks to higher palm oil production as well as lower operating and administrative expenses.

Chin Teck’s 2Q net profit up sevenfold

MKH Oil Palm (East Kalimantan) Bhd (MKHOP), the plantation arm of property developer MKH Bhd, reported RM16.02 million net profit on the back of RM86.05 million revenue for the second quarter ended March 31, 2024 (2QFY2024), ahead of its listing on Bursa Malaysia’s Main Market.

MKH Oil Palm posts RM16 mil net profit in 2Q, q-o-q up 44% ahead of Main Market listing

Shares of CapitaLand Malaysia Trust (CLMT) surged on Thursday to its highest in nearly four years while analysts remained upbeat following better-than-expected first-quarter (1Q) results.

CapitaLand Malaysia Trust surges to near four-year high after strong 1Q

Global semiconductor firm Nasdaq-listed TTM Technologies Inc has invested US$200 million (about RM958 million) for its first manufacturing plant in Malaysia.

Nasdaq-listed TTM Technologies invests RM958 mil for manufacturing plant in Penang

The Council of Palm Oil Producing Countries (CPOPC) has called on the European Union to delay the implementation of deforestation rules by at least a year for small businesses, its secretary general said on Thursday.

Palm oil producers urges EU to delay deforestation rules for small businesses

Pantech Group Holdings Bhd is considering to list two wholly-owned subsidiaries — Pantech Stainless &amp; Alloy Industries Sdn Bhd and Pantech Steel Industries Sdn Bhd — on the Main Market of Bursa Malaysia via a special purpose vehicle (SPV).

Plans for this are still at the preliminary stage and extensive preparatory work needs to be carried out, Pantech said in a bourse filing on Thursday.

Pantech mulls listing two subsidiaries on Main Market via SPV

Practice Note 17 (PN17) company Khee San Bhd will increase the allotment underwritten in its proposed rights issue after Ng Meng Kee ceased to be a substantial shareholder and requested to discharge his undertaking.&nbsp;

Khee San revises underwriting of rights issue after substantial shareholder ceases to be, withdraws undertaking

ViTrox Corp Bhd saw its net profit nearly halved for the financial quarter ended March 31, 2024 (1QFY2024), primarily due to unfavourable product mix and higher research and development (R&amp;D) expenditures to support the introduction of new products.

ViTrox 1Q’s net profit nearly halved, extending declining profits to five quarters

Construction company Inta Bina Group Bhd has secured a contract worth RM224.8 million to develop a 38-storey business serviced apartment in Subang Jaya.

Inta Bina bags RM224.8m job to build business serviced apartments in Subang Jaya

The newly constituted board of Digital Nasional Bhd (DNB) will convene a meeting soon to review due diligence findings and address the remaining conditions precedent in the share subscription agreements (SSAs), said Digital Minister Gobind Singh Deo.

DNB's new board to review due diligence findings, finalise share subscription agreements soon — Gobind

While March’s headline inflation of 1.8% year-on-year (y-o-y) came in slightly lower than consensus expectations of 2%, economists are maintaining their projection that Malaysia's headline inflation will progressively accelerate towards the end of the year on account of the government's fuel subsidy rationalisation plan, utility tariff hikes, and its recent adjustments of the service tax.

Inflation to pick up soon on fiscal consolidation measures after weaker-than-expected March print — economists

Pavilion Real Estate Investment Trust (PavREIT) reported that its first quarter net property income (NPI) jumped 33.2% year-on-year, thanks largely to contribution from its newly acquired mall, Pavilion Bukit Jalil. The increase was also attributed to higher occupancy rates and higher revenue rent from its other retail malls.

PavREIT’s 1Q NPI jumps 33%, pays 2.48 sen distribution per unit

US economic growth slowed more than expected in the first quarter, but an acceleration in inflation suggested that the Federal Reserve would not cut interest rates before September.

US economic growth slows more than expected in first quarter

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

KUALA LUMPUR (April 25): The Companies Commission of Malaysia (SSM) expects more companies to utilise the new corporate rehabilitation framework introduced by the Companies (Amendment) Act 2024, which came into force on April 1.

SSM expects more companies to utilise new corporate rehabilitation framework

The Malaysian Anti-Corruption Commission (MACC) has served a senior police officer arrested on suspicion of protecting an illegal syndicate in the country's capital a notice to declare his assets before April 28.

Senior police officer arrested for alleged corruption given until April 28 to declare assets to MACC

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EVENING 5: Five things you need to know today

KUALA LUMPUR (April 25): HeiTech Padu Bhd targets&nbsp;stronger earnings growth after returning to profitability for the financial year ending Dec&nbsp;31, 2023 (FY2023), amid greater competition.

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