EKOVEST Bhd is vastly different now compared with when Tan Sri Lim Keng Cheng (KC) took over as managing director 10 years ago in May 2011.

The construction giant has a 60% interest in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd, which operates the Duta-Ulu Kelang Expressway (Duke) co...

Lim Keng Cheng says no feud at Ekovest, but doubts remain 

THE plan by the Ministry of Transport to change the East Coast Railway Line’s (ECRL) alignment, reverting to the original plan proposed by the Barisan Nasional (BN) government, is understood to have received the tacit approval of the cabinet, sources familiar with the matter tell The Edge.

...

Newsbreak: ECRL’s ‘new’ alignment likely to get approval  

Tan Sri Wan Zulkiflee Wan Ariffin, who is better known as Wan Zul, is said to be stepping down as the president and CEO of Petroliam Nasional Bhd (Petronas), after helming the company for five years.

According to sources, the resignation is expected to be announced soon, and that an internal candidate will succeed him

Possible change of guard at Petronas, Wan Zul to step down

This article first appeared as 'A lot on Loke's plate' in The Edge Malaysia Weekly, on May 13, 2019 - May 19, 2019. 

TRANSPORT Minister Anthony Loke Siew Fook offers us a firm handshake as he gets off the escalator at the swanky hotel in downtown Kuala Lumpur where we are meeti...

What's on Transport Minister Anthony Loke's plate?

This article first appeared as 'Airports need private investments' in The Edge Malaysia Weekly, on May 13, 2019 - May 19, 2019. 

IT may not be that Malaysia is blowing its own trumpet when we say the country has all it needs to be an aviation hub. The country i...

Anthony Loke: Airports need private investments  

This article first appeared as '‘You cannot be popular all the time’' in The Edge Malaysia Weekly, on May 13, 2019 - May 19, 2019. 

OVER the past year, Transport Minister Anthony Loke Siew Fook’s life has largely revolved around meetings and briefings with the 30 or so agencies...

Anthony Loke: ‘You cannot be popular all the time’

Indonesia’s ride-hailing operator, PT Aplikasi Karya Anak Bangsa, or Go-Jek as it is popularly known, is understood to be in the midst of setting up a company in Malaysia in what is seen as a precursor to commencing operations here.

Newsbreak: Indonesia’s Go-Jek looking to set up shop here  

PRESIDENT and CEO of Sapura Energy Bhd Tan Sri Shahril Shamsuddin was visibly pleased when The Edge met him last week. His enthusiasm is understandable.

The oil and gas services provider, in which Shahril has 16.8% equity interest, had just announced that Austrian oil and gas giant OMV ...

Sapura Energy strikes a good cash deal

SAPURA Energy Bhd’s RM4 billion cash call — involving a rights issue of Islamic convertible preference shares (ICPS) and new ordinary shares sweetened by free detachable warrants — is seen as an effective medicine but is nevertheless a bitter pill to swallow.

“The medicine is bitter but...

Sapura Energy’s cash call a bitter remedy?

AFTER going on a buying spree by raising debt over the past few years, DRB-Hicom Bhd has Pos Malaysia Bhd, Proton Holdings Bhd, Composites Technology Research Malaysia Sdn Bhd (CTRM) and Konsortium Logistik Bhd under its belt.

Now, the diversified group has reversed its strategy by goin...

Asset sale to fund Proton's operations

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 prosecution succeeded in its appeal at the Federal Court on Wednesday to forfeit RM1,112,700 from 79 investors involved in an illegal deposit-taking scheme.

Apex court allows forfeiture of RM1.11m belonging to investors of illegal deposit-taking scheme

EVENING 5: Five things you need to know today

The Nasdaq outpaced Wall Street peers on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support.

Nasdaq outshines Wall Street peers on tech boost, earnings glee 

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)

Capital A Bhd’s unit AirAsia Consulting Sdn Bhd is the entity that is bidding to acquire SriLankan Airlines, and if it materialises, will raise its own capital for the acquisition, according to chief executive officer Tan Sri Tony Fernandes.

AirAsia Consulting, not AirAsia, is bidding for SriLankan Airlines, says Fernandes

Farm Price Holdings Bhd on Wednesday began taking orders from investors for its initial public offering (IPO) on the ACE Market to raise up to RM32.4 million.

The IPO, priced at 24 sen apiece, involves a public issuance of 102 million new shares as well as an offer for sale of 33 million existing shares, according to its prospectus. All in, the listing offers investors a 30% stake in the Johor-based wholesalers and vegetables distributor.

Farm Price starts taking orders for ACE Market IPO to raise up to RM24.48 mil

Malaysian automotive companies may see earnings decline this year as sales dip and operating costs rise amid the emergence of several Chinese brands offering attractive pricing, analysts cautioned.

M'sian automakers expected to feel pinch from lower sales, higher costs, and rise of Chinese OEMs

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

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

One of the world’s busiest land checkpoints is set to become less congested as Malaysians travelling to Singapore on factory buses will be able to clear immigration through QR code.

Malaysia to start using QR code at checkpoints with Singapore, report says

Chin Hin Group Property Bhd said on Wednesday it had signed two agreements to develop two separate residential projects in Kuala Lumpur worth RM1.08 billion in combined gross development value (GDV).&nbsp;

Chin Hin Group Property to develop two residential projects worth RM1.08 bil

Bursa Malaysia remained in positive territory at the midday break on Wednesday, supported by continuous buying in selected heavyweight counters, especially in the telecommunications and media sectors.&nbsp;

Telco shares lift Bursa higher at midday

Capital A Bhd’s board of directors has decided to extend Tan Sri Tony Fernandes'&nbsp;tenure as the chief executive officer for another five years, and as a strategic adviser to the airlines business, which is poised to be merged into AirAsia X Bhd.

Fernandes to be CEO of Capital A for another five years

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 Malaysian Anti-Corruption Commission investigating officer (MACC IO) probing Datuk Seri Najib Razak in relation to the 1Malaysia Development Bhd (1MDB) debacle never asked the former prime minister if he had instructed for the controversial transfer of US$700 million to a company linked to fugitive Low Taek Jho (Jho Low), the court heard on Wednesday.

MACC officer did not ask Najib if he instructed controversial transfer of US$700m to Good Star

Gold’s record-setting rally this year has puzzled market watchers, as bullion has roared higher, despite headwinds that should have held it back. With prices sagging this week, the explanation may lie in China.

Gold’s record-setting rally may have its roots in Chinese frenzy

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

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

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

Jose Barrock and Kathy Fong

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Jose Barrock and Kathy Fong

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