IN a span of four months — between early September 2023 and early January 2024 — information technology and telecommunications outfit Edaran Bhd snagged RM490.46 million worth of contracts from the government.

In response to the sudden change in its fortunes, Edaran’s stock hit a 20-yea...

Edaran in the cross hairs 

MALAKOFF Corp Bhd is among the few independent power producers (IPPs) that were granted the first-generation power purchase agreements (PPAs) — sweetheart deals that offer favourable terms and high internal rate of return to woo private investments in power generation following the nationwide bla...

Malakoff needs a recharge

Notable filings

From Dec 26 to 29 last year, notable changes in shareholding in companies listed on Bursa Malaysia included those at Minetech Resources Bhd.

Businessman Datuk Awang Daud Awang Putera ceased to be a substantial shareholder of Minetech — which ...

Insider Moves: Minetech Resources Bhd, Jiankun International Bhd, Frontken Corp Bhd, CCK Consolidated Holdings Bhd, Eden Inc Bhd, TIME dotCom Bhd  

TOP-level executives from four large long steel companies in Malaysia — Ann Joo Resources Bhd, Malaysia Steel Works (KL) Bhd (Masteel), Lion Industries Corp Bhd and Southern Steel Bhd — have written in to the Ministry of Investment, Trade and Industry (Miti) urging it to scrutinise Alliance Steel...

Long steel players urge close scrutiny of Alliance Steel

It was sometime in May of 1992 in a bar called Colors Fun Pub and KTV (what a cheesy name) in Damansara Utama that a French gentleman walked in and asked the barman — in his early twenties and clad in a black Colors Fun Pub and KTV T-shirt that was one size too big — in his French accent and all, “Zu you ave ze Kawv-waa-zee-ay?”

Coffee Break: Of marketing and Courvoisier

THE Sarawak State Financial Secretary is understood to be close to concluding a memorandum of understanding (MoU) which will lead to a deal to acquire an additional stake in Affin Bank Bhd from Lembaga Tabung Angkatan Tentera (LTAT).

At present, Sarawak has a 4.95% stake in the bank. Th...

Sarawak on verge of raising stake in Affin Bank

IN late August this year, when The Edge met armed forces fund Lembaga Tabung Angkatan Tentera (LTAT) CEO Datuk Ahmad Nazim Abdul Rahman, he was in high spirits, and understandably so.

LTAT, which has some RM11 billion in assets under management, and its flagship Boustead Holdings Bhd (B...

Turkeys Of The Year: Taxpayers pay for termination of KLK-Boustead Plantations deal

THE sight of 114 passengers lugging their bags and forced to walk along the 1.5km railway track that connects the main terminal building to the satellite building of Terminal 1 (T1) of the Kuala Lumpur International Airport (KLIA) after the aerotrain service broke down is likely to be etched in o...

Turkeys Of The Year: KLIA’s aerotrain saga — the little train that couldn’t

Ongoing restructuring of LTAT and Boustead hogs the limelight 

Throughout the year, the armed forces fund, or Lembaga Tabung Angkatan Tentera (LTAT), and its flagship Boustead Holdings Bhd (Boustead) hogged the limelight, with the restructuring...

Stories Of The Year - LTAT 

A familiar face resurfaces as chairman of Lembaga Tabung Haji

 

 

 

Tan Sri Abdul Rashid Hussain

Chairman of Lembaga Tabung Haji

2023 - NEWSMAKERS: THE YEAR’S COMEBACK 

WASHINGTON (April 19): Donald Trump said on Thursday the survival of Ukraine is important to the United States, a shift in tone days before the Republican-led U.S. House of Representatives is due to vote on a $61 billion aid package.

The former president did not endorse the package, and...

Donald Trump says Ukraine's survival is important to US

(April 19): The Indonesian government is working with central bank governor Perry Warjiyo to cushion the country’s economy from the rise in the US dollar, according to its finance minister.

“We work very closely with Governor Perry,” Finance Minister Sri Mulyani Indrawati said in a Bloo...

Indonesian finance chief aims to shield economy from dollar rise

A trader accused of exploiting Mango Markets rules to steal US$110 million (RM526.2 million) from the exchange was convicted of fraud in the first US trial involving criminal charges tied to cryptocurrency manipulation.

Crypto trader convicted in US$110m Mango Markets fraud

The US on Thursday effectively stopped the United Nations from recognising a Palestinian state by casting a veto in the Security Council to deny the Palestinian Authority full membershipof the world body.

US stops UN from recognising a Palestinian state through membership

NEW YORK (April 19): US stocks vacillated on Thursday, swinging from red to green and back as investors contended with the push-pull of a strong economy and restrictive Federal Reserve policy.

Benchmark Treasury yields resumed their climb and gold added strength as ongoing turmoil in th...

Wall Street closes lower; gold climbs amid economic, geopolitical crosswinds

Chinese government-linked hackers have burrowed into US critical infrastructure and are waiting "for just the right moment to deal a devastating blow," FBI director Christopher Wray said on Thursday.

FBI says Chinese hackers preparing to attack US infrastructure

US stocks closed near the unchanged mark on Thursday, as investors sifted through the latest corporate earnings, while economic data and comments from Federal Reserve officials suggested the central bank was unlikely to cut interest rates in the near future.

Stocks end near flat as investors assess earnings, data

Atalanta progressed to the Europa League semi-finals despite losing 1-0 to Liverpool on Thursday as they triumphed 3-1 on aggregate to move one step closer to a first ever European final for the Serie A side.

Liverpool eliminated as Atalanta book Europa League semi-final place

LILLE (April 19): Aston Villa goalkeeper Emiliano Martinez saved two spot kicks and survived a bizarre red card incident as his side beat French club Lille on penalties to reach the Europa Conference League semi-finals on Thursday.

A chaotic match ended 3-3 on aggregate after Lille's 2-...

Martinez avoids red card, saves penalties to send Villa into semis

A Florida jury on Thursday concluded that Johnson & Johnson's baby powder talc product did not cause the ovarian cancer of a Florida woman who died in 2019.

J&J wins trial over Florida woman who claimed its baby powder caused her cancer

Malaysia’s current tallest building, the Merdeka 118 tower, has been awarded the Leadership in Energy and Environmental Design (LEED) Platinum certification in the LEED v2009 Core and Shell rating system, marking it as the first megatall building in the country to achieve it, according to a press statement on Thursday.&nbsp;

Merdeka 118 first megatall building in Malaysia to get LEED Platinum certification

KUALA LUMPUR (April 18): Here is a brief recap of some business news and corporate announcements that made the headlines on Thursday:

Datuk Farhash Wafa Salvador, former political aide to Prime Minister Datuk Seri Anwar Ibrahim, has ceased to be a substantial shareholder of HeiT...

HeiTech Padu, Axiata, AmanahRaya REIT, AmFirst REIT, RHB Bank, 7-Eleven Malaysia, MBSB, Awantec, MAA Group, UMediC, Systech, Pansar, Auro, Kimlun and AWC

KUALA LUMPUR (April 18): AwanBiru Technology Bhd (Awantec) said trading in its shares will be suspended from April 26, after the group failed to submit its regularisation plan to the regulators for approval within the stipulated timeframe.

Awantec faces trading suspension from April 26 after failing to submit regularisation plan

After spending over two years in court due to a suit from Empire Holdings Ltd, MAA Group Bhd, its major shareholder Tunku Datuk Yaacob Khyra and Turiya Bhd have been dropped as parties in the suit over MAA’s purchase of Turiya shares from a Bahrain-based bank. &nbsp;

MAA Group exits legal bout over 2021 Turiya share acquisition under settlement deal

Engineering services provider AWC Bhd has bagged two contracts worth a total of RM19.39 million for plumbing works at Hospital Kapar in Selangor and a data centre in Cyberjaya.

In a statement on Thursday, AWC said the Hospital Kapar job was awarded to its wholly-owned subsidiary Qudotech Sdn Bhd by the project's main contractor, IJM Corp Bhd's unit IJM Construction Sdn Bhd.

AWC secures plumbing jobs at Hospital Kapar and Cyberjaya data centre

High-impact projects such as the Johor-Singapore Special Economic Zone (JS-SEZ) and&nbsp;Special Financial Zone&nbsp;(SFZ) in Forest City can spur Johor’s economy to outpace that&nbsp;of other states in the next one to two years, said Prime Minister Datuk Seri Anwar Ibrahim.

Special economic, financial zones can help Johor surpass other states economically, says Anwar

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EVENING 5: Five things you need to know today

Bursa Malaysia Securities Bhd has approved the transfer of UMediC Group Bhd’s listing status from the ACE Market to the Main Market, under the 'health care'&nbsp;sector.

Bursa approves UMediC’s transfer to Main Market

A former technician was brought before the Sessions Court again here on Thursday on a charge of posting offensive messages insulting Islam on his Facebook account in&nbsp;March, regarding the sale of stockings bearing the word 'Allah'.

'Allah' socks insults: Former technician brought before Sessions Court again

The developer of the&nbsp;Petaling Jaya Dispersal Link (PJD Link) expressway will receive an official letter soon, notifying it of the cancellation of the construction project.

PJD Link developer to get official letter soon on cancellation, says Nanta

Swiss state prosecutors are seeking long prison terms for two men accused of embezzling US$1.8 billion from 1Malaysia Development Bhd (1MDB) — Saudi-Swiss businessman Tarek Obaid and his Swiss-British business partner Patrick Mahony, the AFP reported.

Swiss prosecutors seek long jail terms for duo in US$1.8bil 1MDB fraud — report

The allocations that the government has agreed to consider extending to elected representatives from the opposition are subject to terms and conditions, said DAP Parliament chief whip Nga Kor Ming.

Nga: Proposed allocations for opposition reps conditional

KUALA LUMPUR (April 18): 7-Eleven Malaysia Holdings Bhd, known for its extensive network of convenience stores, declared on Thursday an interim dividend of 2.7 sen per share for its financial year ended Dec 31, 2023 (FY2023), after posting a record high net profit.

7-Eleven declares 2.7 sen dividend for FY2023

(April 18):&nbsp;The world of chocolate is facing such immense cocoa shortages that the wild trading lured an unlikely player&nbsp;—&nbsp;Pierre Andurand, a hedge-fund manager best known for his bets on oil.&nbsp;

Why the world of chocolate is in crisis

FE Green Pet (M) Sdn Bhd’s new high-tech recycling factory is expected to make Melaka a green investment destination and complement the economic growth strategy in the state, said Melaka Chief Minister Datuk Seri Ab Rauf Yusoh.

He said with an investment totalling approximately RM958 million, the plant on 14 hectares of land is projected to be completed by 2Q 2025, creating almost 500 jobs.

RM958 mil high-tech recycling factory puts Melaka on green investors map — Ab Rauf

Kimlun Corporation Bhd has bagged a construction contract worth RM150 million for a serviced apartment development project in Johor Bahru.

In a bourse filing on Thursday, Kimlun said its wholly-owned subsidiary Kimlun Sdn Bhd received the award as the main contractor for the Aliva Mount Austin residential project from Astaka Development Sdn Bhd, a subsidiary of Singapore-listed Astaka Holdings Limited.

Kimlun bags RM150 mil contract for residential construction project in Johor

More than a year after it diversified into the sand dredging business, timber products manufacturer Auro Holdings Bhd (formerly known as NWP Holdings Bhd) is proposing to venture into the food and beverage (F&amp;B) business.

The proposed diversification is aimed at expanding its revenue stream and reducing its reliance on the wood-based and sand mining industries, said the loss-making company in a bourse filing on Thursday. &nbsp;

Auro forays into F&B business to cut dependence on wood-based and sand mining industries

The Penang government will wait&nbsp;for&nbsp;recommendations from the&nbsp;undersea tunnel project&nbsp;steering committee before making any decision&nbsp;regarding the implementation of the project, said&nbsp;Chief Minister&nbsp;Chow Kon Yeow.

Undersea tunnel: Penang to wait for steering committee's recommendations, says Chow

（吉隆坡18日讯）马建屋（Malaysia Building Society Bhd）建议在截至2023年12月31日财年（2023财年）派发每股3.5仙终期股息，总值2亿8778万令吉。

马建屋建议2023财年派息3.5仙

With 94% of Malaysian companies gearing up for an artificial intelligence (AI) driven future, National Technology and Innovation Sandbox (NTIS) together with NVIDIA has launched an AI pilot sandbox programme.

Jose Barrock

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