The Securities Commission Malaysia (SC) said it is looking into a complaint filed by South Malaysia Industries Bhd (SMI), in which the group accused that some parties acting in concert violated the Capital Markets and Services Act 2007 (CMSA) in accumulating shares without making a mandatory general offer (MGO).

SC to look into SMI's complaint alleging breach of mandatory general offer requirements by parties acting in concert

KUALA LUMPUR (Sept 6): Boustead Heavy Industries Corp Bhd (BHIC) will not be penalised for mismanagement and irregularities related to the troubled littoral combat ship (LCS) project.

No penalty for BHIC over LCS mismanagement

KUALA LUMPUR (Sept 7): Boustead Naval Shipyard Sdn Bhd (BNS) has assured that there will be no major delays in the construction of littoral combat ships (LCS) despite its termination of two main contractors of the project.

No further delay in LCS project despite termination of contractors — BNS

KUALA LUMPUR (Sept 7): Malaysian semiconductors players’ latest quarterly results were largely mixed with growth of certain companies moderating, weighed by prolonged supply chain disruptions and the easing of consumer electronics demand from the pandemic high.

Malaysia’s semiconductor outlook turns cloudy after mixed 2Q earnings

KUALA LUMPUR (Sept 2): With the upsized dividend of RM50 billion from Petroliam Nasional Bhd (Petronas) this year, economists are optimistic that it will be sufficient to help fund the government’s subsidy bill, which is expected to eventually hit a whopping RM80 billion — the highest in history.

Additional RM25 bil dividend from Petronas can meet hefty subsidy bill, say economists

The number of reported cybercrime incidents in Malaysia has grown over time, especially with banks and their customers as targeted victims.

Cybercrime incidents on the rise in Malaysia, says Sophos

Electronic prescription telemedicine provider DOC2US aims to raise between US$8 million to US$10 million which will be utilised for research and development (R&D) in its e-pharmacy model, data analytics and human resources.

DOC2US seeks to raise US$8 million to US$10 million for expansion

Lim Hwee Bin, the wife of former Goldman Sachs banker Roger Ng Chong Hwa who is indicted in the United States (US), is scheduled to leave Malaysia and testify in her husband's defence next week.

Roger Ng's wife to travel to US next week to testify

In an exclusive interview, SEMI president and CEO Ajit Manocha (pictured) said the longer-term growth outlook is exceptional and exciting, with projections pointing to the industry more than doubling revenue to approximately US$1.3 trillion (RM5.43 trillion) by 2030.

Global semiconductor equipment materials industry revenue to hit US$1.3tril by 2030, says SEMI

KUALA LUMPUR (July 9): As the nation labours to move forward in fighting the coronavirus pandemic, Sunway Education Group announces exciting news for students with the opening of its Sunway International School’s new campus in January 2023.

Sunway Education Group’s new RM300 mil school campus to open in 2023

Sarawak and Sabah hold the ignominy of having the highest sales of illicit cigarettes in Malaysia which costs an estimated RM5 billion in tax revenue to the government annually.  

In an email response to theedgemarkets.com, Retail and Trade Brands Advocacy Malaysia (RTBA Malaysia) said that in Sarawak, illicit cigarettes made up 86.1% of market share versus legitimate cigarettes, while it is 81% in Sabah.

Sarawak, Sabah top spots for illicit cigarettes

Utusan Malaysia, the oldest Malay-language newspaper in the country, will carry on despite the operational shutdown of its former holding company Utusan Melayu (M) Bhd today, says the latter's executive chairman Datuk Abd Aziz Sheikh Fadzir.

"Utusan will live on. We are liquidating the holding company but the ownership of the printing licences [has] been acquired by Aurora Mulia and they will relaunch publications in the near future," Abdul Aziz told theedgemarkets.com.

'Utusan will live on,' says executive chairman

KAJ Development Sdn Bhd will resume two projects under the RM43 billion Melaka Gateway plan after the Transport Ministry allowed the company to appeal against the government's earlier decision to scrap the development.

Melaka Gateway developer to resume projects, withdraws suit

Telekom Malaysia Bhd (TM) said today the sale of non-core property assets, such as land and buildings, is consistent with the group's strategy to create long-term value shareholders by strengthening the balance sheet and focusing the company's portfolio on its core business that will drive growth.

TM: Non-core property asset sale to create long-term value for shareholders

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

Berjaya Corp&nbsp;Bhd (BCorp) has denied that its founder Tan Sri&nbsp;Vincent Tan Chee Yioun participated in talks to revive a US$100 billion (RM477.60 billion)&nbsp;Forest City casino resort as reported recently.

Berjaya Corp denies participation in talks to revive Forest City casino resort

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

The country’s&nbsp;fifth-generation (5G) network&nbsp;adoption rate has reached nearly 36% as of mid-April, while the service coverage rate stood at 80.3% in February.

Fahmi: 5G adoption rate almost 36%, coverage 80.3%, second network unveiling next week

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

The world’s 3,000 billionaires should pay a minimum 2% tax on their fast-growing wealth to raise £250 billion (RM1.28 trillion) a year for the global fight against poverty, inequality and global heating, ministers from four leading economies have suggested.

World’s billionaires should pay minimum 2% wealth tax, say G20 ministers

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.

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