KUALA LUMPUR: The High Court here yesterday endorsed a notice here by the Registrar of Societies (RoS) to validate the dismissal of Malay Chamber of Commerce Malaysia (DPMM) president Rizal Faris Mohideen Abdul Kader.

With this decision by Justice Datuk Seri Mariana Yahya, Datuk Seri Sy...

Court upholds Syed Hussein’s election as DPMM president

KUALA LUMPUR (Sept 5): The High Court today endorsed a notice by the Registrar of Societies (RoS) to validate the dismissal of Malay Chamber of Commerce Malaysia (DPMM) president Rizal Faris Mohideen Abdul Kader.

With this decsion by Justice Datuk Seri Mariana Yahya, Syed Hussein Alhabshee is recognised as the chamber's president.

Mariana endorsed the notice issued by RoS yesterday, which stated that the extraordinary general meeting (EGM) held on Nov 22 last year was valid and in accordance with the decision made by chamber’s executive council (MED) meeting a day earlier.

Court upholds Syed Hussein's election as DPMM president

KUALA LUMPUR: No one in the Prime Minister’s Office (PMO)dared to ask Datuk Seri Najib Razak about the source of funds received by him when he was the most powerful person in the country.

Najib’s former special officer Datuk Amhari Efendi Nazaruddin, 43, testified during the ex-PM’s 1Ma...

No one in PMO dared ask Najib about source of funds

The High Court was told today that no one in the Prime Minister's Office (PMO) dared to question Datuk Seri Najib Razak regarding the source of funds received by him when he was the most powerful person in the country.

Najib's former special officer Datuk Amhari Efendi Nazaruddin, 43, said at the witness stand that this was because the PMO officers feared being seen as doubting Najib's credibility.

No one in PMO dared to ask Najib about his source of funds — witness

KUALA LUMPUR: The High Court here allowed an application by senior lawyer Tan Sri Muhammad Shafee Abdullah, who is facing charges for money laundering involving RM9.5 million and making incorrect income tax filings, for the temporary return of his impounded passport.

Muhammad Shafee is ...

Shafee gets passport back for work in Sydney

KUALA LUMPUR: Former prime minister Datuk Seri Najib Razak, his wife Datin Seri Rosmah Mansor and their two children, Umno and Lebanese jeweller Global Royalty Trading SAL have indicated to the High Court that they will stake their claims in the RM680 million 1Malaysia Development Bhd forfeiture ...

Najib to stake claims in RM680m forfeiture suit against Obyu

Fugitive businessman Low Taek Jho explained the formation of Terengganu Investment Authority (TIA) to former premier Datuk Seri Najib Razak's aide by scribbling on a whiteboard in his apartment kitchen here.

This was revealed by Najib's former special officer Datuk Amhari Efendi Nazaruddin, who is also one of the prosecution's key witnesses in the 1MDB-Tanore trial.

Jho Low explained TIA to Najib's aide by scribbling on a whiteboard in his kitchen

The High Court here allowed an application by senior lawyer Tan Sri Muhammad Shafee Abdullah, who is facing charges for money laundering involving RM9.5 million and making incorrect income tax filings, for the temporary return of his impounded passport.

Shafee is the lead defence counsel for former Prime Minister Datuk Seri Najib Razak in the 1Malaysia Development Bhd (1MDB)-Tanore trial, which started last week.

Najib's lawyer Shafee gets passport back to go to Sydney for work

Former prime minister Datuk Seri Najib Razak, his wife Datin Seri Rosmah Mansor and their two children, Umno, and Lebanese jeweller Global Royalty Trading SAL had today indicated to the High Court that they will stake their claims in the RM680 million 1Malaysia Development Bhd forfeiture suit against OBYU Holdings Sdn Bhd.

Lawyers, who are representing the four parties, revealed this to High Court Judge Collin Lawrence Sequerah when the OBYU case was called up for case management today.

Najib, Rosmah, Umno, jeweller to stake claims in OBYU RM680m forfeiture suit

KUALA LUMPUR: The government will file an application to obtain a summary judgement against former prime minister Datuk Seri Najib Razak regarding the alleged RM1.69 billion in taxes owed by him to the Inland Revenue Board (IRB).

A summary judgement is a decision made on the basis of st...

Govt seeks summary judgement against Najib on RM1.69b tax

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

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

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

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

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

Penang Chief Minister Chow Kon Yeow&nbsp;has announced that he is in talks with a group of companies which have recently participated in Selangor’s integrated circuit (IC) design park.

Integrated circuit design firms to announce investments in Penang on Saturday, says Chow

Wiradani Development Sdn Bhd — a property developer linked to the son of former finance minister Tun Daim Zainuddin — has filed a fresh winding-up petition against SPNB Aspirasi Sdn Bhd, a wholly-owned subsidiary of Syarikat Perumahan Negara Bhd (SPNB).

SPNB unit faces fresh winding-up petition on failure to complete payment to Wiradani after settlement

S P Setia Bhd will launch Casaville, which comprises 38 single-storey bungalows, in its Setia EcoHill township in Semenyih at end-April.

With a gross development value (GDV) of RM50 million, the homes measure 52ft by 90ft each, with built-ups from 1,994 to 2,074 sq ft, and a three-bedroom, three-bathroom layouts. The selling price starts from RM1.376 million. It is slated for completion in the second quarter of 2026.

S P Setia to launch single-storey bungalows in Setia EcoHill at end-April

KUALA LUMPUR (April 26): Software company Microlink Solutions Bhd said on Friday that it has secured a contract worth RM56.45 million to implement and maintain a new core banking system for Bank Islam Brunei Darussalam Bhd.

Microlink gets RM56.45 mil contract from Bank Islam Brunei

Malaysia is poised to be the next home of Zhejiang Geely Holding Group Co Ltd’s (Geely) methanol-powered vehicles, after China and the European market.&nbsp;

Malaysia the next market for Geely’s methanol vehicle

Hong Kong and China stocks extended gains on Friday, with the Hang Seng Index logging its best week since October 2011, as sentiment recovered further after strategists from global investment houses upgraded their views on Chinese shares.

Hong Kong stocks notch best week in more than 12 years; China attracts record inflow 

KUALA LUMPUR (April 26): China will firmly support Malaysia in pursuing a development path suited to its national conditions, and support Malaysia’s Prime Minister Datuk Seri Anwar Ibrahim in promoting the principle of "Malaysia Madani" in governance.

China’s Foreign Minister Wang Yi sa...

China backs Malaysia firmly in pursuing its development, role in global arena — Wang Yi

Huawei Technologies Co’s latest smartphones carry a version of the advanced made-in-China processor it revealed last year, independent analysis revealed, underscoring the Chinese company’s ability to sustain production of the controversial chip.

Huawei’s new phone runs latest version of made-in-China chip

Homeritz Corporation Bhd’s net profit surged by 65.9% in the second quarter ended Feb 29, 2024 (2QFY2024) to RM9.24 million, due to increased sales volume and a stronger US dollar.

Paw Ai Chin

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