When Prime Minister Datuk Seri Anwar Ibrahim was the finance minister during the 1997/98 Asian Financial Crisis, he had requested Tan Sri Halim Saad to buy shares in Renong Bhd, according to the businessman who was then the controlling shareholder of the debt-laden conglomerate..  

In Halim’s statement of claim (SOC) to his latest lawsuit against Tun Dr Mahathir Mohamad, Tan Sri Nor Mohamed Yakcop and the federal government, he claimed that the request by Anwar was to help shore up the local stock market and prevent Malaysia from losing prized assets, including North-South Expressway (PLUS) which was then a wholly-owned unit of UEM.

Halim Saad: Anwar requested me to buy Renong shares to shore up stock market in 1997/98

Businessman Tan Sri Halim Saad has filed a suit against Tun Dr Mahathir Mohamad, former minister in the Prime Minister’s Department Tan Sri Nor Mohamed Yakcop and the federal government for losses that he suffered as a result of concerted efforts by the authorities to stop his bid to take over United Engineers Malaysia Bhd (UEM), which then owned prized assets including the North South Expressway’s toll concession.

Halim Saad sues Dr M, Nor Yakcop and federal govt again for losses stemming from UEM-Renong deal 

AMBANK was put under the spotlight again last week when former Bank Negara Malaysia governor Tan Sri Zeti Akhtar Aziz pinned the blame for many of the illicit banking transactions involving 1Malaysia Development Bhd funds on the bank’s failure to conduct due diligence of its clients’ accounts — p...

Court: Central bank in the dark as Ambank failed to report suspicious transactions

The Attorney General's Chambers will oppose Datin Seri Rosmah Mansor’s application for leave (permission) to appeal to the Federal Court, where she is seeking to initiate a judicial review to nullify her solar hybrid graft trial.

AG’s Chambers to oppose Rosmah’s bid for leave to nullify solar graft trial

KUALA LUMPUR (August 8): TH Heavy Engineering Bhd (THHE) has filed an ex-parte originating summons (OS) at the High Court here on July 27, calling for a creditors meeting, under Section 366 and Section 368 (1) of the Companies Act (CA) to propose a scheme of arrangement for its company.

THHE applies to call for creditors meeting

Former attorney general Tan Sri Mohamed Apandi Ali’s appeal over the dismissal of his RM10 million defamation suit against former DAP chairman Tan Sri Lim Kit Siang in the Court of Appeal will now be heard on Sept 4, after a judge recused herself on Tuesday (Aug 8).

Ex-AG Apandi's defamation appeal against Kit Siang put off to Sept 4 due to judge's recusal

Caretaker Kedah Menteri Besar Datuk Seri Muhammad Sanusi Md Nor has filed a defamation suit against Home Minister Datuk Seri Saifuddin Nasution Ismail over the alleged theft of rare earths in Bukit Enggang, Sik.

Sanusi files defamation suit against home minister, seeks apology and damages

Vinvest Capital Holdings Bhd’s allegation of losing its 17.82% stake in EA Holdings Bhd has caught the investing fraternity by surprise as to how this could happen without the knowledge of the parties involved.

Vinvest’s ‘missing’ EA Holdings shares in the limelight

The Federal Court on Thursday (Aug 3) ruled that the Departure Levy Act 2019, which imposes tax on Malaysians who travel overseas, is a valid law and does not impinge on the right of its citizens to depart from the country to travel abroad.

Fed Court: Departure levy does not impinge on right to travel abroad

Four Petaling Jaya residents who filed legal action against the Petaling Jaya Dispersal Link (PJD Link) want the Selangor government to give its firm commitment to reject any future highway development in the area.

The four, who are part of the "Say No to PJD Link" movement led by lawyer T Chakaravarthi, in a statement on Wednesday (Aug 2) said that while they welcome caretaker Selangor Menteri Besar Datuk Seri Amirudin Shari's announcement of the cancellation of the project, there are subsequent news quoting Amirudin as saying that the project may be revived if some conditions are met.

Four residents want Selangor govt's firm commitment to reject future highway development in PJ

World oil demand this year is expected to grow less than earlier forecast and output should expand faster than previous estimates, resulting in a more balanced market, the US Energy Information Administration (EIA) said on Tuesday.

EIA cuts 2024 world oil demand growth estimate, hikes output forecast

Taiwan's military is prepared for any moves China may make around the time president-elect Lai Ching-te takes office later this month, the island's deputy defence minister said on Wednesday.

Taiwan says its military is ready for China moves around the inauguration of new president 

HONG KONG (May 7): Two Chinese companies and JPMorgan have become the latest banking groups to cut jobs in China as a slow recovery in listing and dealmaking activities force them to ramp up cost controls, six sources with knowledge of the matter said.

Beijing-based China Internati...

CICC, Citic, JPMorgan cut investment banking jobs in China as deals stall

Around the world, populist nationalism is on the rise, often shepherded to power by authoritarian leaders. And yet the neoliberal orthodoxy — government downsizing, tax cuts, and deregulation — that took hold some 40 years ago in the West was supposed to strengthen democracy, not weaken it. What ...

Unconventional Economic Wisdom: Global elections in the shadow of neoliberalism

(May 7): Microsoft's Xbox is shutting down a number of gaming studios including Arkane Austin, making it the latest publisher to shut down studios amid signs of a gaming slowdown.

Studios such as "Hi-Fi Rush" maker Tango Gameworks, headquartered in Tokyo, and Canada-based Alpha Dog...

Microsoft's Xbox shuts multiple studios, consolidates teams in cost-cutting move

Former prime minister Tan Sri Muhyiddin Yassin has been granted a temporary release of his passport to visit a sick family member in Australia.

Sessions Court judge Azura Alwi allowed the Bersatu chief's application and ordered the travel document to be released on Wednesday and for it to be returned to the court on May 28.

Muhyiddin gets temporary release of passport to visit sick family member abroad

Shares in low-cost aviation operators Capital A Bhd (KL:CAPITALA) and AirAsia X Bhd (KL:AAX) rose in early trade on Wednesday, tracking gains at the broader market.

Capital A and AAX active, advance in post merger trade

IJM Land Bhd (KL: IJM) has achieved 55% take-up rate for serviced apartment Daffodil Residency since its launch on March 1, according to a press statement on May 7.

IJM Land’s Daffodil Residency achieves 55% take-up rate 

Hospital operator IHH Healthcare Bhd (KL: IHH) on Wednesday said it has invested in Belun Technology Company Ltd that makes devices tackling sleep apnea and other sleep disorders.

IHH Healthcare invests in Belun Technology for devices to tackle sleep disorders

Shares of CTOS Digital Bhd (KL:CTOS) rose to their highest in nearly two months as analysts flagged a pickup in earnings ahead following the seasonally weaker first-quarter results.

CTOS rises to near two-month high; analysts see stronger quarters ahead

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

Sime Darby Plantation, Pekat, Siab, OCK, Sapura Energy, CTOS, Awantec, Mobilia, Prolintas, Power Root

The takeover bid by Yinson Holdings Bhd’s major shareholder for Icon Offshore Bhd was made at 63.5 sen per share, as wellas 0.1 sen per warrant.

Yinson's major shareholder raises Icon stake to 56.67% as MGO closes

Power Root Bhd's subsidiaries have successfully recovered trademark of its own “Ah Huat” brand for coffee and tea beverages, after reaching an amicable out-of-court settlement with its Indonesian distributor CV Ego Sun Star Sukses Mandiri (CV Ego) following an infringement wrangle that started in 2013.

Power Root reclaims ‘Ah Huat’ brand in Indonesia after decade-long trademark tussle 

GCH Retail (M) Sdn Bhd, the operator of Giant hypermarkets, said the courts are still deciding on the company’s tenancy dispute with its landlord over premises it is currently occupying in Batu Caves.

GCH Retail says Giant Batu Caves tenancy dispute with landlord still being decided by courts

Global sales of semiconductors jumped 15.2% year-on-year (y-o-y) to US$137.7 billion (RM653.24 billion) during the first quarter of 2024, according to the US-based Semiconductor Industry Association (SIA).

First-quarter global semicon sales jump 15.2% y-o-y to US$137.7b, says SIA 

Former National and Johor Darul Ta’zim (JDT) skipper Safiq Rahim became the third National footballer to be attacked within a week, although the JDT player’s attack seemed more of a warning than personal harm.

Two suspects on motorcycles break Safiq Rahim's car windscreen in third attack on footballers 

United Overseas Bank (M) Bhd (UOB Malaysia) has launched a programme to assist businesses in understanding and preparing for the European Union's (EU) carbon border adjustment mechanism (CBAM), a carbon border tax that is set to take effect in 2026 and affect some 75% of Malaysian exports to the region.

UOB Malaysia introduces masterclass to prepare businesses for EU’s carbon border tax

Former prime minister Tan Sri Muhyiddin Yassin has been granted a temporary release of his passport to visit a sick family member in Australia.

Sessions Court judge Azura Alwi allowed the Bersatu chief's application and ordered the travel document to be released on Wednesday and for it to be returned to the court on May 28.

Shares in low-cost aviation operators Capital A Bhd (KL:CAPITALA) and AirAsia X Bhd (KL:AAX) rose in early trade on Wednesday, tracking gains at the broader market.

TikTok and its Chinese parent company ByteDance said on Tuesday they filed suit in US federal court seeking to block a law signed by President Joe Biden that would force the divestiture of the short video app used by 170 million Americans or ban its use.

TikTok, ByteDance sue to block US law seeking sale or ban of app

The head of Saudi Arabia’s new investment fund for semiconductor and artificial intelligence (AI) technology said the country would divest from China if it were asked to do so by the US.

Saudi Arabia AI fund would divest from China if US asked, CEO says

The FBM KLCI was little changed in early trade on Wednesday although it held firm above the 1,600-point level.

KLCI little changed in early trade, hovers above 1,600 resistance level

The S&amp;P 500 and Dow Jones Industrial Average both clung onto gains to ended slightly higher on Tuesday, extending recent winning streaks fueled by renewed expectations that the Federal Reserve (Fed) will cut interest rates this year.

S&P, Dow end slightly up, extend closing streaks despite Disney drag

As Malaysia aims to achieve high-income status, it needs to improve its human capital outcomes to match those of high-income countries.

Aspiring to high-income status: Education matters

The Malaysian Anti-Corruption Commission (MACC) is studying allegations against Housing and Local Government Minister Nga Kor Ming with regards to his announcement of an allocation for infrastructure in Kuala Kubu Bharu (KKB) recently.

MACC looking into minister’s KKB allocation announcement ahead of poll

Shares of CTOS Digital Bhd (KL:CTOS) rose to their highest in nearly two months as analysts flagged a pickup in earnings ahead following the seasonally weaker first-quarter results.

Wall Street pared earlier gains on Tuesday after equity markets elsewhere rallied as investors parsed when and by how much the Federal Reserve (Fed) cuts interest rates this year, while a resurgent dollar helped weaken the yen further.

Wall Street loses steam, dollar gains as investors mull rate cut timing

Australia said on Wednesday it would raise the amount of savings international students will need to get a visa and warned several colleges of fraudulent student recruitment practices, as part of efforts to rein in record migration.

Australia raises minimum savings for student visa, warns on fake recruitment

Reddit Inc jumped more than 10% in extended trading after reporting quarterly sales that topped analysts’ estimates, impressing investors in its first results as a public company.

Reddit gains after strong sales in first report since IPO

Currency markets have started pricing in elevated foreign exchange volatility around the US vote on Nov 5, even with election day almost six months away.

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