The suit filed by 1Malaysia Development Bhd (1MDB) against a landowner to recover over RM6 million in relation to 94.7ha in Air Itam, Penang, has been moved to the Penang High Court.

Lawyer Theomus Foo Chee Wai, who appeared on behalf of the landowner — Tan Jiak Chye, told reporters that the High Court here allowed his client's application to transfer the case to Penang High Court today.

1MDB suit against Air Itam landowner to recover RM6m to be heard at Penang High Court

AFTER five years and multiple suits, the Genting family feud is finally set to end amicably.

Court documents sighted by The Edge confirm that the two key warring factions involved in the family dispute have agreed to a global settlement of all claims and counterclaims against each other...

Newsbreak: Global settlement ends Genting family feud  

The "official receipt" allegedly received by a developer after making a RM2 million "political donation" to former Federal Territories minister Datuk Seri Tengku Adnan Tengku Mansor was not found in Umno's official receipt book, the High Court was told today.

Tengku Adnan trial: No record of RM2m donation in Umno official receipt book — MACC officer

Former Attorney-General (AG) Tan Sri Mohamed Apandi Ali had earlier this month filed a defamation suit against DAP veteran Lim Kit Siang, seeking RM10 million over an article which allegedly accused him of aiding and abetting in the 1Malaysia Development Bhd scandal.

Former AG Apandi Ali files RM10m defamation suit against Lim Kit Siang

Accounting irregularities found but firm not taking action against the then CEO, CFO

Transmile drops civil suit against top executives

Former federal territories minister Datuk Seri Tengku Adnan Tengku Mansor would advance anywhere from RM100,000 to RM300,000 monthly to Umno, his former senior private secretary told the High Court today.

Datuk Mohd Rahimi Rejab, 46, testified that Tengku Adnan had on many occasions used his own money to advance funds for the party’s expenses, including the Sungai Besar, Selangor and Kuala Kangsar, Perak by-elections held in June 2016.

Ku Nan sometimes loaned over RM300,000 a month to Umno — former private secretary

KUALA LUMPUR: Former federal territories minister Datuk Seri Tengku Adnan Tengku Mansor would advance anywhere from RM100,000 to RM300,000 monthly to Umno, his former senior private secretary told the High Court yesterday.

Datuk Mohd Rahimi Rejab, 46, testified that Tengku Adnan, on man...

‘Ku Nan sometimes loaned over RM300,000 a month to Umno’

KUALA LUMPUR: The defamation suit filed by Deputy Defence Minister Liew Chin Tong over two articles in relation to the communist uniform issue against Jaringan Melayu Malaysia (JMM) president Datuk Azwanddin Hamzah may be settled out of court.

The case was called up for case management ...

Liew’s defamation suit against Azwanddin may be settled out of court

KUALA LUMPUR: A claim filed by the government seeking RM1.69 billion in additional taxes from former premier Datuk Seri Najib Razak for 2011 to 2017, has been set for further case management on July 25, while waiting for Najib to file his memorandum of appearance (MoA) in the High Court.

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Ball in Najib’s court in IRB’s tax suit; case management set for July 25

A claim filed by the government to seek RM1.69 billion in additional taxes from former premier Datuk Seri Najib Razak for the years 2011 to 2017 has been set for further case management on July 25, while waiting for Najib to file his Memorandum of Appearance (MoA) in the High Court.

Ball in Najib's court in IRB's RM1.69b tax suit, case management set for July 25

WASHINGTON (April 16): US Treasury Secretary Janet Yellen on Tuesday warned that the US intends to hit Iran with new sanctions in coming days over its unprecedented attack on Israel, and these actions could seek to reduce Iran’s capacity to export oil.

US to hit Iran with new sanctions in ‘coming days’, Yellen says

KUALA LUMPUR (April 16): The Unity Secretariat meeting, held on Tuesday night, discussed preparations to strengthen machinery and the working mechanism of parties within the Unity Government, in preparation for next month’s Kuala Kubu Baharu by-election.

Saifuddin Nasution: Unity Secretariat discussed machinery preps for Kuala Kubu Baharu by-election

WASHINGTON (April 16): Iran’s unprecedented missile and drone strike on Israel is unlikely to prompt dramatic sanctions action on Iran’s oil exports from the Biden administration due to worries about boosting oil prices and angering top buyer China, said analysts.

Biden unlikely to cut Iran’s oil lifeline after Israel attack

KUALA LUMPUR (April 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

MyEG, HeiTech Padu, Apex Healthcare, Globetronics Technology, Kossan Rubber, Tomei, GDEX, Serba Dinamik, Alpha IVF and Comfort Gloves

KUALA LUMPUR (April 16): The 14-year-old daughter of Lahad Datu police chief ACP Dzulbaharin Ismail was found dead in a pool of blood, in a room at her home in Taman Tabanak, Lahad Datu on Tuesday.

Teen daughter of Lahad Datu police chief found dead in pool of blood

KUALA LUMPUR (April 16): The Malaysian Investment Development Authority (Mida) plays an instrumental investment facilitator role in removing obstacles for prospective investors, said Investment, Trade and Industry (Miti) Minister Tengku Datuk Seri Zafrul Tengku Abdul Aziz.

Zafrul: Mida a vital instrument to remove obstacles for prospective investors

NEW YORK/BENGALURU (April 16): The Dow Jones Industrial Average outshone its peers on Tuesday, following upbeat results from health insurer UnitedHealth, while higher Treasury yields and conflict in the Middle East kept investors on edge.

Dow up on UnitedHealth boost; higher bond yields, Mideast tensions cap gains

KUALA LUMPUR (April 16): Comfort Gloves Bhd said two subsidiaries of the group have commenced legal action over an additional tax demand totalling RM99.3 million by the Inland Revenue Board (IRB).

Comfort Gloves’ units go to court over RM99 mil additional tax demand

Tesla Inc shares extended their decline for 2024, pushing the electric-vehicle (EV) maker’s market valuation below US$500 billion (RM2.40 trillion), as a round of job cuts this week further soured sentiment around the company.

Tesla’s value declines below US$500b as risks pile up

Federal Reserve (Fed) vice chair Philip Jefferson said he expects inflation to continue to moderate, with interest rates at their current level, but persistent price pressures would warrant holding borrowing costs high for longer.

Fed’s vice chair sees steady rate helping to push down inflation

Outsourced semiconductor assembly and testing (OSAT) player Globetronics Technology Bhd is in the final stages of discussion with two prospective clients interested in leveraging advanced packaging technology.

Globetronics in final talks with two potential customers for advanced packaging

European Commission President Ursula von der Leyen is unleashing a barrage of trade restrictions against China as she seeks to follow through on a pledge to make the EU a more relevant political player on the global stage.

EU goes on China trade offensive after getting ‘played’ 

Practice Note 17 (PN17) company Serba Dinamik Holdings Bhd said it had been granted an extension of time until May 15 by Bursa Malaysia to submit its regularisation plan.

Bursa grants Serba Dinamik second extension of time until May 15 to submit regularisation plan

ISKANDAR PUTERI (April 16): The Johor government wants to develop a multi-tiered Automated Rapid Transit (ART) system in Johor Bahru to address traffic congestion in the city.

MB: Multi-tiered Automated Rapid Transit system planned to overcome Johor Bahru congestion

The Ministry of Investment, Trade and Industry (Miti) will draw up a comprehensive semiconductor strategic plan to ensure that Malaysia continues to be the chosen investment destination for this strategic industry, said Prime Minister Datuk Seri Anwar Ibrahim.

Anwar: Miti to draw up comprehensive semiconductor strategic plan

HSBC Holdings plc has started a new round of job cuts at its Asia investment bank amid a slump in dealmaking across the region, according to people familiar with the matter.

The London-based lender cut around a dozen bankers across its investment banking division in Asia on Tuesday, one of the people said, asking not to be identified discussing a private matter.&nbsp;

HSBC slashes a dozen investment bankers in Asia on deals slump

Bursa Malaysia ended lower for the second consecutive day on Tuesday, tracking the weak global sentiment due to the Middle East conflict, said an analyst. &nbsp;

Bursa closes lower, tracking weak global sentiment

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Tesla's global job cuts include reducing staff in the US&nbsp;and China, the automakers' two biggest markets, across sales, tech, and engineering, five sources briefed on the matter said.

Chief executive officer Elon Musk on Monday told staff in an&nbsp;internal memo&nbsp;seen by Reuters that the company is laying off more than 10% of its global workforce, as it grapples with falling sales and an intensifying price war for electric vehicles.

Tesla's global job cuts include leading markets US, China

KUALA LUMPUR (April 16): Malaysian airlines will be hurt by higher fuel costs, even as escalating geopolitical tensions in the Middle East are not expected to dent ticket sales, analysts said.

Local airlines may feel heat from rising oil prices as Middle East tensions simmer — analysts

1Malaysia Development Bhd (1MDB) on Tuesday failed to transfer its case concerning its US$6.59 billion (RM31.58 billion) suit against its former president Arul Kanda Kandasamy and former Treasury secretary general Tan Sri Dr Mohd Irwan Serigar Abdullah from the Civil High Court to the Commercial High Court.

1MDB fails to transfer suit against Arul Kanda and Irwan to another court

MIDF Research expects crude palm oil (CPO) prices to moderate in the second quarter of 2024 (2Q2024), yet predicts a month-on-month (m-o-m) increase of 4.6%&nbsp;to RM4,410.5 per tonne in April due to&nbsp;mild El&nbsp;Niño events.&nbsp;

MIDF sees CPO price moderation in 2Q

The Ministry of Finance (MOF) has registered the proposed construction of a new highway alignment that will connect Tanjung Malim to Lumut.

Confirming the matter, Menteri Besar Datuk Seri Saarani Mohamad said the construction of the highway is necessary&nbsp;to facilitate export logistics services through the Lumut Maritime Industrial City (LuMIC) when the High Technology Automotive Valley (AHTV) project in Tanjung Malim begins operation.

Perak proposes new highway between Tanjung Malim and Lumut

Kossan Rubber Industries Bhd has proposed a final dividend of two sen per share for the financial year ended Dec 31, 2023 (FY2023).

The final dividend will be paid on July 18, with June 20 as the ex-date and June 21 as the entitlement date, the glove maker said in a bourse filing on Tuesday.

Kossan proposes final dividend of two sen for FY2023

The Sarawak government has welcomed the appointment of Lawrence Wong as Singapore's next&nbsp;prime minister, while also expressing interest in studying further the republic's approach to assisting its low-income sector.

Abang Johari sees more Sarawak-Singapore collaborations under PM Wong

Tesla Inc&nbsp;shares extended their decline for 2024, pushing the electric-vehicle (EV) maker’s market valuation below US$500 billion (RM2.40 trillion), as a round of job cuts this week further soured sentiment around the company.&nbsp;

KUALA LUMPUR (April 16): Bursa Malaysia Bhd is collaborating with the UK government’s Mobilising Institutional Capital Through Listed Product Structures (Mobilist) programme to help address the funding gap needed in Malaysia to achieve the United Nations’ (UN) Sustainable Development Goals (SDGs) by 2030.

Bursa works with UK's Mobilist programme to address funding gap and achieve UN SDGs

Former prime minister Tun Dr Mahathir Mohamad said on Tuesday that the Malaysian Anti-Corruption Commission (MACC) has accused him of abusing power for personal gain.

Mahathir claims MACC accuses him of power abuse for personal gain

KUALA LUMPUR (April 16): Newly-listed fertility care company Alpha IVF Group Bhd made a net profit of RM13.59 million for its third quarter ended Feb 29, 2024 (3QFY2024), on a revenue of RM40.7 million.

Alpha IVF makes RM13.6 mil net profit in 3Q, sees rising demand for fertility solutions amid resurgence in medical tourism

KUALA LUMPUR (April 16): Here is a brief recap of some business news and corporate announcements that made the headlines on Tuesday:

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