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.

Homeritz’s 2Q net profit jumps 66% on increased sales volume, stronger greenback

PETALING JAYA (May 24): The Real Estate and Housing Developers' Association (Rehda) Malaysia has lost a mentor and a pillar of support following the passing of Datuk Teo Chiang Quan, Paramount Corp Bhd chairman and executive director, said Rehda president Datuk Soam Heng Choon (pictured).

The passing of Datuk Teo Chiang Quan: We have lost a great leader, says Rehda

A total of 75% of developers are seeing declining work efficiency due to the Covid-19 pandemic, thus impacting their construction progress of existing developments, a survey by Real Estate and Housing Developers Association Malaysia (Rehda) Malaysia showed.

Rehda survey: 75% of developers see construction progress affected due to Covid-19 and MCO

Permodalan Nasional Bhd (PNB) has sold Menara MIDF in Jalan Raja Chulan to Singapore-based JD Hospitality Sdn Bhd, The Edge Malaysia weekly reported in its latest issue.

Menara MIDF sold to Singapore-based group — sources

Developers should rethink their building strategies for high-rise strata properties especially in terms of density in relation to safety and disaster management issues.

"This is going to be their biggest challenge moving forward. The [COVID-19] pandemic may end with lifestyles returning to normal, but while we are concentrating only on the pandemic, that does not mean something else will not happen. How are we going to manage if other disasters happen?" asked Solaris Dutamas Management Corporation (MC) chairman Datuk Nabhesh Khanna during EdgeProp Malaysia's Virtual Fireside Chat entitled “Inside story: Managing high-end strata homes” on Facebook Live this evening.

Note to developers: Reconsider building strategies post pandemic

The Strata Management Act (SMA) should be reviewed to include the duties and responsibilities of strata building management committee members and chairman, urged Sri Penaga Condominium Management Corporation (MC) past chairman Khaw Chay Tee.

He said many people who become committee members of Joint Management Bodies or Management Corporations get on board not knowing what to do

SMA should define duties of JMB/MC committee members

Should there be a limit to a strata management committee's power especially with regards to the usage of the sinking fund?

Although existing laws do not impose legal limitations on a committee's powers, Solaris Dutamas Management Corporation (MC) chairman Datuk Nabhesh Khanna said a cap should perhaps be put on the usage of the sinking fund at any one time

Should there be a limit to an MC's use of the sinking fund?

The implementation of the Movement Control Order (MCO) to curb the spread of the COVID-19 pandemic from March 18 to May 4 had undeniably posed numerous challenges to Joint Management Bodies (JMBs) and Management Corporations (MCs) of strata properties.

The biggest challenge was to manage the residents' expectations during the lockdown period. Communication was crucial as many did not understand that the things that they used to do in normal days were being prohibited, said Sri Penaga Condominium MC past chairman Khaw Chay Tee.

MC chairmen: Making strata residents understand SOPs was the main challenge during lockdown

At a glance, the outside of a building may look fantastic. However, things may not be as rosy on the inside. And given the ongoing COVID-19 outbreak, we are spending more time indoors. How do we know if the building is ‘healthy’ or that our homes are safe?

According to Architect Centre Sdn Bhd accredited architect and trainer Anthony Lee Tee, a house could be your biggest single purchase - a dream purchase. “Most of the time, people tend to buy from the heart. We see parts [of the property] that we want to see, either beautiful landscaping or nice facilities. In fact, we could buy into a property where beauty is just skin deep but comes with many frivolous facilities,” shared Lee on EdgeProp Malaysia’s Virtual Fireside Chat titled "Stop! Are you destroying your property value?" on Facebook Live this evening. He also shared some insights obtained as a fellow judge on EdgeProp Malaysia’s Best Managed and Sustainable Awards over the years.

Ignore frivolous features when buying a property

Since the outbreak of COVID-19, one fundamental change for residential properties is that they have also become a workplace or the office to many people.

“As COVID-19 has forced more people to work or do business from home, residential properties have doubled up as commercial space, or even for industrial usage, depending on what you are doing, it could even be a warehouse,” offered Chur Associates founder and managing partner Chris Tan during EdgeProp Malaysia's Virtual Fireside Chat titled "Stop! Are you destroying your property value?" held this evening

Is your home still considered home following COVID-19?

Choosing a building that was designed for easy maintenance is one of the key attributes of building value in a property investment, according to the panel of experts featured on EdgeProp Malaysia's Virtual Fireside Chat titled “Stop! Are you destroying your property value?” held this evening.

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