A Singapore court has sentenced Malaysian John Soh Chee Wen — who was found guilty of masterminding the manipulation of three penny stocks that eventually collapsed and wiped off S$8 billion (RM26.23 billion) in market capitalisation in 2013 — to 36 years in jail. His main accomplice Quah Su Ling, another Malaysian, was given 20 years.

The Edge Says: Singapore gets it right — Severe punishment is the best deterrent against future commercial crimes

The Federal Land Development Authority (Felda) is silent after its third six-month special exemption from Bursa Malaysia for the 25% public shareholding spread in FGV Holdings Bhd expired on Aug 3 2022.

It continues to mop up more shares on the open market in an apparent attempt to privatise FGV on the cheap despite high palm oil prices and record profits.

Felda and privatisation of FGV: No end in sight

KUALA LUMPUR (April 17): To compound or not to compound may very well be the question when it comes to compoundable offences. The decision to compound the four executives in the Serba Dinamik Holdings Bhd case has raised a myriad of questions, thoughts, and opinions.

As a general princi...

MSWG CEO: What is the reason for the decision to compound in Serba Dinamik case?

KUALA LUMPUR (April 5): Whilst Gamuda is still considering and deliberating the offer from Amanat Lebuhraya Rakyat Berhad (ALR), and we will duly announce our decision on their offer immediately after our Board has made a decision on it, we would like to make the following comment(s):

Gamuda says everyone wins with ALR's takeover offer

KUALA LUMPUR (Feb 8): Last Friday (Feb 4), I took my children to the World Trade Centre in Kuala Lumpur to be vaccinated. Like all parents, whether a pandemic was in progress or not, my wife and I were understandably anxious. Indeed we are always anxious. We worry about the state of the world our children are growing up in and about the future they may have to inhabit. We want the best for them and we live in the hope that somehow, things will get better. We steel ourselves to be ready for anything but we weren't prepared for what awaited us that day.  As expatriate parents, understandably, our anxiousness had added dimensions to it.

A pleasant surprise during my children’s vaccination

Serba Dinamik Bhd’s standoff with market regulators and two major accounting firms over its delayed financial statements is becoming a joke. But it is definitely not funny.

To recap, the problem surfaced after its long-time external auditor KPMG highlighted discrepancies involving trans...

End the standoff: Serba Dinamik should make EY review public to prove it has nothing to hide

KUALA LUMPUR (Nov 16): Effective Jan 1, 2022, a proposal to remove tax exemption on income derived from foreign sources and received in Malaysia by Malaysian residents under Paragraph 28, Schedule 6 of the Income Tax Act (ITA) 1967 was announced in the recent Budget 2022.

Look into issues in proposed tax on foreign-sourced income

Money laundering is a process of converting cash or property derived from illegal activities to give it a legitimate appearance. It is a process to clean "dirty" money in order to disguise its criminal origin.

The Malaysian Anti-Corruption Commission (MACC) is empowered to enforce recovery of stolen assets via the Anti-Money Laundering and Anti-Terrorism Financing Act 2001 (AMLATFPUAA 2001).

Understanding money laundering and asset recovery strategies

There are views now being promoted that any prescriptive regulations or employment requirements for vaccination status on individuals militate against the liberty of a person to choose NOT to be vaccinated. And further this is unconstitutional.

Does the Federal Constitution protection of fundamental liberty mean that laws employer cannot prescribe vaccination against Covid-19 be imposed?

MERDEKA!

On the 31st of August 2021, Malaysia will celebrate 64 years of independence. Over the last two years, the usual fanfare associated with the occasion (among others) has been replaced with quieter celebrations at home under what seems to be a perpetual state of lockdown.

Merdeka, in the midst of a pandemic

There is a call to set up a Royal Commission of Inquiry (RCI) to investigate allegations of interference on the judiciary. Such a call is wrong and must be rejected.

Setting up of RCI to investigate judiciary is unconstitutional

While grappling with the Covid-19 pandemic, Malaysia has also gone through a very toxic and stormy period of political crisis since the Sheraton coup took place in February 2020. Seventeen months after the parliamentary coup, we have yet another unelected government led by the ninth prime minister (PM), and third in three years, Datuk Seri Ismail Sabri Yaakob.

An idea of economic governance for new PM

If Daniel Moss of Bloomberg has accurate facts on his hand by just working harder to look at the latest ranking of the Fragile States Index (FSI 2021), he would not have been gloating in his article that Malaysia is staggering down the road to failed statehood.

The injustice of stereotyping Malaysia as a failed state

KUALA LUMPUR (July 1): The rakyat are grateful to the government for the various assistance given to the rakyat affected by Covid-19, as well as the implementation of the National Covid-19 Immunisation Programme (PICK).

Daily Covid-19 infections in Malaysia have exceeded 4,000 for many months, while deaths from the pandemic have also been rising.

Malaysia must make Covid-19 tests mandatory to all, in order to capture, isolate asymptomatic cases and prevent them from spreading the virus

Russia and Ukraine exchanged fire on energy facilities overnight, with an oil refinery damaged in Russia’s Krasnodar region, while Ukraine sustained a missile barrage on gas infrastructure and other targets.

Russia, Ukraine exchange strikes on refinery and gas targets

Deutsche Bank AG is putting aside as much as €1.3 billion (US$1.4 billion or RM6.6 billion) in legal provisions, warning this will hit profits.

The bank will book the potential payment in the current quarter, it said in a statement late on Friday. That will impact “second quarter and full-year profitability”, it said, while adding that the ultimate amount of the provisions is not clear yet.

Deutsche Bank earmarks US$1.4b provision in hit to profit

Genting Malaysia Bhd has dismissed reports linking the group and its deputy chairman and chief executive Tan Sri Lim Kok Thay to supposed discussions relating to the opening of a second casino for Malaysia in Forest City, Johor, to revive the US$100 billion (RM477.60 billion) development.

Genting Malaysia denies involvement in talks for Forest City casino

The Territorial Sea Act 2012 (Act 750) remains valid and applicable throughout Malaysia, including in Terengganu, unless declared otherwise by the court, says the Prime Minister’s Office, despite the Terengganu State Legislative Assembly's decision to reject its use.

Territorial Sea Act 2012 still valid, including in Terengganu, says PMO

The Malaysian government is serious about resolving issues surrounding the palm oil industry in the country, said Plantation and Commodities Minister Datuk Seri Johari Abdul Ghani.

Govt serious about resolving palm oil industry issues, says Johari Ghani

Three new semiconductor companies are keen to invest in Penang with total investments of US$100 million (RM477 million), said Chief Minister Chow Kon Yeow.

Three semiconductor firms keen to invest US$100m in Penang

Tan Sri Mokhzani Mahathir and his brother Mirzan Mahathir, who have been asked to declare their assets by the Malaysian Anti-Corruption Commission (MACC), have both denied being investigated by the agency.

Mahathir's sons, Mirzan and Mokhzani, deny being under MACC probe

Defence Minister Datuk Seri Mohamed Khaled Nordin said the government had no plans to temporarily suspend the service of Fennec and HOM helicopters.

Govt not suspending service of Fennec and HOM helicopters, says minister

It will be a four-way fight in the upcoming Kuala Kubu Bahru by-election between Pakatan Harapan’s pick Pang Sock Tao, Hulu Selangor Bersatu action division head Khairul Azhari, Parti Rakyat Malaysia’s Hafizah Zainudin and independent Nyau Ke Xin.

NEWS: Four-cornered fight in KKB by-election

Parti Rakyar Malaysia’s Hafizah Zainudin says that if elected, PRM will stand on a platform of increased transparency in government.

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