AS the unity government marks one year in power, some wonder whether it can last another year. While the Anti Party-Hopping Law is making it difficult for members of parliament (MPs) to change allegiances, coalitions can still switch sides en bloc.

And the support given by the five Part...

Cover Story: Difficult for unity government to fall but support of fence-sitters needed 

PRIME Minister Datuk Seri Anwar Ibrahim has spent the last 25 years calling for a reformation of the country’s governance and socioeconomic structure. Millions of Malaysians have rallied around his call for “reformasi” and remained true to the agenda since 1998.

One year into his premie...

Cover Story: Time to execute fiscal, economic and institutional reforms 

Every November, right after Halloween, like a spirit summoned by a bunch of millennials, Mariah Carey

Coffee Break: Of the Question of the Year and AI

WORLDWIDE Holdings Bhd, the sanitary landfill operator owned by Perbadanan Kemajuan Negeri Selangor (PKNS), is building up its portfolio of waste-to-energy (WTE) plants, with its latest win being the Bukit Payong WTE project in Batu Pahat, Johor.

According to a Worldwide spokesperson, t...

PKNS-owned Worldwide builds up WTE assets, adds Bukit Payong project to portfolio

Notable filings

Berjaya Corp Bhd became the largest shareholder of Salcon Bhd as it continued to acquire the water and wastewater engineering group’s shares during the holiday-shortened trading week of Nov 13 to 17, increasing its stake to 12.55% with 127.03 million shares as at Nov 2...

Insider Moves: Salcon Bhd, Pansar Bhd, Fitters Diversified Bhd, Maxim Global Bhd, XL Holdings Bhd 

CONSTRUCTION industry players are in a bind. Post-pandemic, smaller contractors have had to contend with higher costs of doing business as they compete for foreign workers, as well as pay higher prices for building materials, eating into their already thin margins.

At the same time, con...

MBAM urges government to expedite commencement of key catalytic projects

Datuk Seri Anwar Ibrahim spent the last 25 years calling for the reformation of Malaysia’s governance and socioeconomic structure. Millions of Malaysians rallied around his call for “reformasi” and stayed true to the agenda since 1998.

Time to act, Putrajaya

STEEL players have welcomed the government’s decision to impose a two-year moratorium on all expansion and diversification of manufacturing activities in the iron and steel industry, saying the move will allow them to reconfigure their businesses.

The government is also considering exem...

Cover Story: Steelmakers welcome government’s two-year moratorium on long products

MRT Corporation Bhd CEO Datuk Mohd Zarif Hashim’s contract has been extended for another two years. This provides certainty to the implementation of the Klang Valley Mass Rapid Transit Line 3 (MRT3) as Mohd Zarif initiated the tender process in May 2022.

An MRT Corp representative confi...

MRT Corp’s Mohd Zarif gets two-year extension

AwanBiru Technology Bhd (Awantec), which has been categorised as an “affected listed issuer” by Bursa Malaysia after it lost a major partnership deal in January 2021, has been picking up the pieces and getting back on its feet.

The company’s main source of income had been its partnershi...

Lesson learnt, Awantec picks up the pieces and moves on 

China passed a law on Friday strengthening its trade defence capabilities as the US and the European Union take aim at Beijing over excess industrial capacity.

China passes tariff law amid tensions with trading partners

FRANKFURT/BERLIN/PRAGUE (April 26): Thyssenkrupp will sell a 20% stake in its steel business to the energy holding controlled by Czech billionaire Daniel Kretinsky, a major breakthrough for the German conglomerate after years of unsuccessful attempts to divest the unit.

Thyssenkrupp sells stake in steel unit to Czech billionaire Kretinsky

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

BCorp, Capital A, AAX, YNH, Sam Engineering, Turiya, Gadang, Microlink, Nestle, Wiradani, D&O, Homeritz, Unisem

(April 26): HSBC Holdings Plc successfully fought off a London court claim brought by a group of investors in a £1.3 billion (US$1.6 billion) lawsuit over tax breaks linked to Walt Disney Co film financing.

HSBC wins £1.3 bil suit over Disney film finance scandal

KUB Malaysia Bhd has extended the deadline for its mandatory general offer for Central Cables Bhd (CCB) a second time to May 20 from April 30, according to its latest filing on Bursa Malaysia.

KUB extends deadline for CCB MGO a second time

EVENING 5: Five things you need to know today

KUALA LUMPUR (April 26): KPJ Healthcare Bhd, through its premier educational institution KPJ Healthcare University (KPJU), has entered into a memorandum of understanding (MOU) on Friday with Trusx Malaysia Sdn Bhd (Trustr), a global digital health organisation, as an initiative to revolutionise healthcare.

KPJ Healthcare, Trusx Malaysia collaborate for AI-driven healthcare solutions

Wall Street's main indexes advanced on Friday as most megacap growth stocks rose after robust quarterly results from Alphabet pushed its market value over US$2 trillion (RM9.5 trillion), while an in-line inflation reading calmed interest rate jitters.

Wall Street rises as Big Tech charges higher

In today’s edition of Evening 5: 00:00 Merger of airlines enough to reverse negative equity - Fernandes 02:16 Govt set to unveil second 5G network next week  03:26 Unisem’s 1Q hit by margins, forex 04:30 Berjaya Corp denies Forest City casino talks   05:30 Homeritz’s 2Q earnings spike on stronger greenback

EVENING 5: Merger of airlines enough to reverse negative equity - Fernandes

A weekly round-up of tanker and dry bulk market (April 26, 2024)

Baltic Exchange shipping updates: April 26, 2024

The Inland Revenue Board (IRB) on Friday announced that the deadline for taxpayers to submit Form E and CP8D has been extended to May 31.

Deadline to submit Form E, CP8D extended to May 31, says IRB

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

The corporate exercise to merge the AirAsia airline businesses under AirAsia X Bhd (AAX) is apparently sufficient to offset all of the RM8.7 billion negative equity in Capital A Bhd, according to chief executive officer Tan Sri Tony Fernandes.

Merger of airlines alone enough to reverse all of Capital A's negative equity, says Fernandes

Malayan Banking Bhd (Maybank) has obtained a summary judgement at the High Court here against ACE Credit (M) Sdn Bhd, ACE Corporation (M) Sdn Bhd, and the company directors Datuk Choong Chee Meng and Chang Ai Nee, for defaulting on a RM46.47 million loan given to them by the bank.

Maybank obtains summary judgement against ACE Corporation, three others for RM46m loan default

Doctor-turned-businessman Tan Sri Mohan MK Swami and his partner Datuk Seri Dr Shamir Kumar Nandy agreed on Friday to acquire a 58% stake in property management company Turiya Bhd for RM52.86 million from MAA Group Bhd.

Mohan Swami, partner agree to buy 58% of Turiya for RM52.86m from MAA Group

Uday Kotak built his Kotak Mahindra Bank Ltd over decades to become Asia’s richest banker. After India’s regulator slapped his firm with a surprise ban, he’s facing one of his biggest tests yet — and a dip in wealth.

Asia’s richest banker loses US$1.2 bil after RBI ban

KUALA LUMPUR (April 26): Gamuda Land, the property arm of Gamuda Bhd, has unveiled partners for Gardens Square, the latest commercial development at the 810-acre Gamuda Gardens in Sungai Buloh.

Gamuda Land announces retail partners for upcoming commercial development in Gamuda Gardens

The Employees Provident Fund (EPF) has emerged as the second largest shareholder of aero-engine components manufacturer Sam Engineering &amp; Equipment (M) Bhd, after Singapore's sovereign wealth fund Temasek Holdings Pte Ltd.

EPF emerges as second largest shareholder of Sam Engineering

Prime Minister Datuk Seri Anwar Ibrahim on Friday suggested all parties mentioned in a recent report&nbsp;alleging that the government is planning to issue&nbsp;a licence for a casino in&nbsp;Forest City, Johor, to take necessary action&nbsp;against the foreign news agency.

Anwar wants action taken against Forest City casino licence news report

Shares of AirAsia X Bhd (AAX) rose to a six-month high as investors cheered a restructuring plan that would make the company the largest low-cost carrier in Southeast Asia.

AirAsia X logs best day in six months on Capital A restructuring

YNH Property Bhd (YNH) issued a clarification to bondholders via Malaysian Trustee Bhd on the technical default of its Islamic notes, as well as the status of its mall sale and the appointment of a new auditor.

YNH says it has remedied 'technical default' involving sukuk programme

Nestle (Malaysia) Bhd is slated to raise prices for 22 of its products starting July 1, according to the Federation of Sundry Goods Merchants Associations of Malaysia (FSGMAM).

Nestle Malaysia to adjust prices of 22 products starting July 1

Gadang Holdings Bhd has secured a RM280 million contract to design and develop the Klang Valley Data Centre&nbsp;Block 2 in Cyberjaya from TM Technology Services Sdn Bhd, a business entity of Telekom Malaysia Bhd.

Gadang wins RM280 mil Klang Valley data centre jobs from TM Technology

MYAirline Sdn Bhd will continue to retain its nominated post holders as well as key personnel, while ensuring that its air operator’s certificate (AOC) documentation remains as current as possible.

MYAirline seeking multiple investors, to retain nominated post holders

Pavilion Real Estate Investment Trust rose to its highest in more than a month&nbsp;after the release of its first-quarter results, while analysts expect the REIT, which mainly manages shopping malls, to benefit further from higher tourist arrivals.

Pavilion REIT climbs over one-month high, analysts say earnings growth on track

The Malaysian Anti-Corruption Commission (MACC) has given businessmen Mirzan Mahathir and Tan Sri Mokhzani Mahathir a 30-day extension from Friday to declare their assets to the anti-graft body.

Mirzan and Mokhzani given 30-day extension to declare assets

D&amp;O Green Technologies Bhd, which mainly makes automotive light-emitting diodes (LEDs), is optimistic of at least 10% revenue growth this year and plans to build another facility in anticipation of “significant growth” over the next decade.

D&O optimistic of revenue growth, plans new RM200m facility

Anyone called in by the Malaysian Anti-Corruption Commission (MACC), either as a witness or subject of investigation, is given ample opportunity to provide additional, detailed information as they please, and this includes imprisoned former prime minister Datuk Seri Najib Razak.

MACC officer says Najib given ample opportunity to elaborate while statements were recorded

Majuperak Holdings Bhd (MHB) will collaborate with Shizen International Inc to explore the development of a solar photovoltaic (PV) project&nbsp;to expand Perak’s clean energy technology usage.

Majuperak, Shizen International to explore solar PV development in Perak

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

Kamarul Azhar

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