SUGAR refining used to be a sweet business to be in. But it may turn bitter in the coming years if Putrajaya continues its liberalisation push to allow more sugar imports into the country.

For the two local refiners — public-listed MSM Malaysia Holdings Bhd and its unlisted competitor, ...

Sugar refinery CEO says he is ‘against monopoly’  

In the first full working week after three holiday-shortened weeks on the bounce, expect much attention to remain on the ongoing 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial on Monday.

The spotlight will be on Datuk Shahrol Azral Ibrahim Halmi, CEO of 1MDB from its inception in ...

The Week Ahead: 1MDB’s first CEO to testify after explosive revelations

FOR minority shareholders of TH Plantations Bhd (THP), its aggressive debt-fuelled expansion in 2011 and 2012 — underpinned by a massive related-party transaction (RPT) — was a watershed moment for their investment.

Prior to 2011, the total return to shareholders from THP’s listing on A...

Special Report: Not all shareholders suffer equally

IN 2012, TH Plantations Bhd (THP) paid RM254.58 million for Bumi Suria Ventures Sdn Bhd (BSV) and its subsidiary, Maju Warisanmas Sdn Bhd (MWM). Seven years later, both are up for sale after a massive impairment of close to the original price tag as THP seeks to unwind significant chunks of its m...

Special Report: Why one subsidiary lost RM244 million in book value 

IN 2011, TH Plantations Bhd (THP) embarked on an aggressive expansion drive that nearly tripled its land bank within three years. Eight years later, much of the land acquired is now for sale as THP’s bottom line crumbles under the weight of crippling debt.

As at June 30, 2019, THP’s boa...

Special Report: THP seeks to unwind mega expansion amid crippling debt 

IT was dubbed an audacious proposal to create the largest telco in the region by revenue. But Axiata Group Bhd and Telenor Group have called off the wedding for now due to “complexities” that may be beyond their control.

In identical statements released last Friday, both parties said th...

Insurmountable complexities halt Axiata-Telenor merger

AS TH Plantations Bhd (THP) released its second-quarter results last Thursday, its shareholders may rightly be even more concerned about its financial health amid its turnaround programme this year.

In a nutshell, its turnover in the second quarter was not enough to cover cost of sales ...

Low CPO prices pull TH Plantations deeper into the red 

Notable filings

BETWEEN Aug 19 and 23, notable filings with Bursa Malaysia included the sale of 159.64 million shares in oil and gas firm Velesto Energy Bhd by major shareholder Permodalan Nasional Bhd (PNB).

The share disposal was made via mu...

Insider Moves: Velesto Energy Bhd, Serba Dinamik Holdings Bhd, Westports Holdings Bhd, SMRT Holdings Bhd, Rimbunan Sawit Bhd, HeiTech Padu Bhd  

AIRASIA’s financial services venture, BigPay, will soon increase its offerings to include loans and remittances in its maiden step towards becoming the region’s largest financial institution operating on a challenger bank model.

BigPay already has the regulatory go-ahead to offer these ...

Tech: AirAsia’s BigPay eyes big slice of Southeast Asia’s online banking segment

KUALA LUMPUR: Conglomerate Sime Darby Bhd has confirmed that it is among the companies eyeing a new contract to supply government vehicles once the current contract ends in December.

“Have we put in a bid? Yes, we have,” said its group chief executive officer Datuk Jeffri Salim Davidson...

Sime Darby says it has put in bid for govt car fleet contract

Hong Kong issued its first red rainstorm warning of the year on Saturday as downpours caused flooding in areas of the territory, shutting roads and disrupting public transportation.

Hong Kong issues 2024’s first red storm signal amid flooding

Indonesia will permanently relocate the entire population of an island in North Sulawesi province because a volcano is threatening their safety.

Indonesia’s Ruang becomes ghost island as volcano erupts

The flight instructor and trainee of the Cessna 172 (9M ADA) type training aircraft which crashed in an oil palm plantation in Besout 2 Tambahan plantation, Sungkai near here have been identified as Captain Shahrul Imran Surea, 26, and Ho Jia Lee, 20.

Survivors of Sungkai plane crash identified

The Civil Aviation Authority of Malaysia (CAAM) has confirmed that a Cessna 172N Skyhawk aircraft with the registration number 9M-ADA crashed near Felda Gunung Besout, Sungkai, Perak on Saturday.

CAAM confirms Cessna 172N Skyhawk aircraft crashed near Felda Gunung Besout

The Melaka state government is setting its sights on bolstering its local business landscape by encouraging more companies in the state to be listed on Bursa Malaysia.

Melaka aims to boost local businesses, eyes more listings on Bursa Malaysia

The government is currently studying the proposal from marine robotics company Ocean Infinity to resume the search for Malaysia Airlines Flight MH370, which went missing while en route to Beijing 10 years ago.

Loke: Govt studying Ocean Infinity's proposal to resume search for MH370

Construction work on the East Coast Rail Link (ECRL) project in Kelantan, Terengganu, Pahang and Selangor has reached an average of 65% as of April, said Transport Minister Anthony Loke.

Progress of ECRL project in four states reaches 65%, says Loke

A training aircraft crashed in the Besout 2 Tambahan plantation area in Sungkai on Saturday.

Light aircraft crashes in Sungkai, two passengers survive

Malaysia's latest position in the Press Freedom Index is still considered good compared to the previous government, said Communications Minister Fahmi Fadzil.

Malaysia's press freedom index position is still good, says Fahmi

The Philippines central bank will require financial institutions to submit a report within 24 hours of discovering risks linked to money laundering and terrorist financing, as the Southeast Asian nation steps up its fight against illicit transactions.

Philippines' central bank tightens dirty money risk reporting rule

Retail sales typically slow in the second quarter of the year as consumers take a breather from spending after the festivities in the first quarter. As such, when retailers say their sales fell short of expectations during the two major festive periods so far this year, it is time to pay attention.

Retailers fear current weakness in consumer spending

Will Bank Negara Malaysia’s Monetary Policy Committee follow its Indonesian counterparts by raising interest rates when it holds its next meeting on Wednesday and Thursday?

The Week Ahead: All eyes on Bank Negara’s monetary policy meeting, Xi’s three-nation European trip

Hollywood superstar and acclaimed Malaysian actress Tan Sri Michelle Yeoh has received the prestigious Presidential Medal of Freedom from US President Joe Biden on Friday.

Michelle Yeoh receives Presidential Medal of Freedom from Biden

The flight instructor and trainee of the Cessna 172 (9M ADA) type training aircraft which crashed in an oil palm plantation in Besout 2 Tambahan plantation, Sungkai near here have been identified as Captain Shahrul Imran Surea, 26, and Ho Jia Lee, 20.

King Charles and other senior British royals are to relinquish patronages of almost 200 charities and organisations after a review of their association with more than 1,000 groups, Buckingham Palace said on Saturday.

King Charles and UK royals to relinquish dozens of patronages

The prospect of interest rates remaining elevated as the Federal Reserve (Fed) battles inflation is further clouding the outlook for shares of smaller US companies, which have lagged broader markets this year.

US small caps struggle as elevated interest rates take a toll

The Melaka state government is setting its sights on bolstering its local business landscape by encouraging more companies in the state to be listed on Bursa Malaysia.

Electric vehicle (EV) maker Zeekr Intelligent Technology Holding said on Friday it was targeting a valuation of up to US$5.13 billion (RM24.32 billion) in its US initial public offering (IPO), the first major floatation of a China-based company in more than two years.

China's Zeekr seeks up to US$5.13b valuation in US IPO

A training aircraft crashed in the Besout 2 Tambahan plantation area in Sungkai on Saturday.

Indonesia will permanently relocate the entire population of an island in North Sulawesi province because a volcano is threatening their safety.

Construction work on the East Coast Rail Link (ECRL) project in Kelantan, Terengganu, Pahang and Selangor has reached an average of 65% as of April, said Transport Minister Anthony Loke.

The Kuala Kubu Baharu (KKB) by-election campaign is entering a critical period for all contesting parties and candidates to redouble their efforts to win as many votes as possible.

KKB polls: Parties, candidates redoubling efforts as campaign enters critical period

The Civil Aviation Authority of Malaysia (CAAM) has confirmed that a Cessna 172N Skyhawk aircraft with the registration number 9M-ADA crashed near Felda Gunung Besout, Sungkai, Perak on Saturday.

US Treasury Secretary Janet Yellen said she still sees underlying price pressures receding even as a tight housing supply has helped stall the downward path of inflation.

Yellen says fundamentals still point to slowing inflation

The Philippines central bank will require financial institutions to submit a report within 24 hours of discovering risks linked to money laundering and terrorist financing, as the Southeast Asian nation steps up its fight against illicit transactions.

The government is currently studying the proposal from marine robotics company Ocean Infinity to resume the search for Malaysia Airlines Flight MH370, which went missing while en route to Beijing 10 years ago.

Google and the US Justice Department wrapped up closing arguments on Friday over claims that the Alphabet unit has unlawfully dominated web search and related advertising, in a case the government contends could shape the “future of the internet”.

Google trial wraps up as judge weighs landmark US antitrust claims

Malaysia's latest position in the Press Freedom Index is still considered good compared to the previous government, said Communications Minister Fahmi Fadzil.

This year marks the 30th anniversary of the United Nations’ International Year of the Family (IYF). In the decades since the IYF was proclaimed, demographic shifts, technological transformations, migration, urbanization, and climate change have upended societies around the world. Responding effec...

Khairie Hisyam Aliman

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