The Malaysian Pulse
Beat of the Nation
Tue, 10 Dec 2019, 5:57 AM
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Perdana Petroleum, MISC, PetDag, PetGas, MTAG, IHH and FGV
KUALA LUMPUR (Dec 9): Based on corporate announcements and news flow today, companies in focus tomorrow could include: Perdana Petroleum Bhd, MISC Bhd, Petronas Dagangan Bhd (PetDag), Petronas Gas Bhd...
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Former chief justice Richard Malanjum is now Berjaya Land chairman
KUALA LUMPUR (Dec 9): Former chief justice Tan Sri Richard Malanjum has been made the independent and non-executive chairman of Berjaya Land Bhd (BLand), effective today.
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S&P 500, Nasdaq edge higher; tariff deadline in focus
NEW YORK, Dec 9 — The S&P 500 and Nasdaq indexes edged higher today, with investors keeping a close watch on headlines around US-China trade as planned tariffs on Chinese imports kick in on December...
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Mexico president says senators OK’d changes to USMCA trade pact
MEXICO CITY, Dec 9 — Mexican President Andres Manuel Lopez Obrador said today that the country’s senators have accepted proposed changes to the United States-Mexico-Canada Agreement as US lawmaker...
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UK PM Johnson questions BBC’s licence fee funding
LONDON, Dec 9 — British Prime Minister Boris Johnson today questioned why the BBC should continue to be supported by an annual fee paid by all viewing households, one of the biggest hints to date th...
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EU opens subsidies for electric battery push
BRUSSELS, Dec 9 — The EU’s powerful anti-trust authority today approved billions of euros in subsidies from seven member states as Europe seeks to make up lost ground in batteries.
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Caring Pharmacy sees 5.97% traded off-market
KUALA LUMPUR (Dec 9): Caring Pharmacy Group Bhd saw 13 million of its shares, representing a 5.97% stake, traded off-market today.
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Communism claims a ploy to tarnish democratic process
KUALA LUMPUR (Dec 9): Minister in the Prime Minister's Department Senator P. Waytha Moorthy has expressed disappointment over allegations made by a Terengganu UMNO member that communist elements have ...
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Yusoff Rawther gives statement to Bukit Aman
KUALA LUMPUR (Dec 9): Muhammed Yusoff Rawther recorded his statement at Bukit Aman here today pertaining to his allegations that he was sexually assaulted by PKR president Datuk Seri Anwar Ibrahim.
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DWP to serve as roadmap for Malaysia's defence industry for the next 10 years
KUALA LUMPUR (Dec 9): The Defence White Paper (DWP) is the roadmap and strategic action plan for Malaysia’s defence and security industry in addressing the increasingly challenging and sophisticated...
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Tesco should take the money and run: Andrea Felsted
(Dec 9): Selling Tesco Plc’s operations in Thailand and Malaysia for about 7 billion pounds (US$9.2 billion) would be a nice parting present from outgoing chief executive officer Dave Lewis to his s...
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Tesco could pay special dividend on Asian exit, analysts say
LONDON (Dec 9): Tesco Plc analysts see the potential for a special dividend, after the U.K. supermarket chain confirmed it’s carrying out a strategic review of its operations in Thailand and Malaysi...
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Global stocks whacked as China export decline highlights trade war damage
LONDON, Dec 9 — Global equity markets were in a sombre mood today after Chinese export data highlighted the economic damage from the 17-month long trade war and re-focused attention on a crucial Dec...
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Powerwell signs underwriting agreement with Mercury Securities
KUALA LUMPUR (Dec 9): ACE Market-bound Powerwell Holdings Bhd has signed an underwriting agreement with Mercury Securities Sdn Bhd.
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Halal Industry Development Corporation empowers SMEs through HSPP
KUALA LUMPUR (Dec 9): Ten small and medium-sized enterprises (SMEs) are exploring opportunities to become suppliers for multinational corporations (MNC) through the Halal Sourcing Partnership Programm...
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Dewan Negara observes moment's silence for late senators
KUALA LUMPUR (Dec 9): The Dewan Negara today observed a minute of silence and extended its condolences to family members of senator Datuk M. Sambanthan and senator Datuk Ong Chong Swen who died recent...
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FGV says unaware of talks about Syed Mokhtar wanting to buy stake in group
KUALA LUMPUR (Dec 9): FGV Holdings Bhd said today that it is unaware of any proposals and discussions about tycoon Tan Sri Syed Mokhtar Al-Bukhary buying a stake in the plantation group.
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ARB terminates MoU for Cambodian market entry
KUALA LUMPUR (Dec 9): ARB Bhd has terminated a Memorandum of Understanding (MoU) that was aimed at facilitating the group’s foray into Cambodia to implement the enterprise resource planning (ERP) sy...
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EVENING 5: Five things you need to know today
Dirty dealings. Corporate battles.
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Entrepreneur Development Ministry, MTDC collaborate to prepare SMEs for digital technology
BANGI, Dec 9 — The Ministry of Entrepreneur Development (MED) has forged a cooperation with Malaysian Technology Development Corporation (MTDC) to prepare the small and medium enterprise (SME) to sh...
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Prosus hikes hostile bid for Just Eat
LONDON, Dec 9 — Prosus, Europe’s largest consumer-tech company, said today it has hiked its hostile takeover bid for Just Eat, in an attempt to derail the latter’s merger deal with peer Takeaway...
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IHH shareholders approve RM1.02b Prince Court acquisition from Khazanah
KUALA LUMPUR (Dec 9): IHH Healthcare Bhd’s non-interested shareholders and proxies have voted 99.99% in favour of the proposed RM1.02 billion acquisition of Prince Court Medical Centre from Khazanah...
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Perak Amanah supports any decision made on land ownership
IPOH (Dec 9): Any decision to be made by the Perak state government in granting 999-year ownership or permanent titles to new villages, will have to be in line with Pakatan Harapan’s (PH) stance, sa...
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Award of APEC 2020 communications and translation contract above board — MITI
KUALA LUMPUR (Dec 9): The Ministry of International Trade and Industry (MITI) says the award of the communications and translation tender for next year’s Asia Pacific Economic Council (APEC) meeting...
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MTAG to buy 12-acre industrial land in Johor for RM24m
KUALA LUMPUR (Dec 9): MTAG Group Bhd is buying two pieces of freehold industrial land that span 12.1 acres collectively in Plentong, Johor for RM24.56 million.
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Stronger US dollar curbs demand for ringgit
KUALA LUMPUR, Dec 9 — The ringgit closed lower against the US dollar today as the positive sentiment for the greenback curbed interest for local currency.
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Gas Malaysia: Average natural gas selling price to fall for Jan 1-Dec 31, 2020
KUALA LUMPUR, Dec 9 — The average natural gas selling price applicable for Gas Malaysia Energy and Services Sdn Bhd from January 1 to December 31, 2020 will be set at RM33.65/MMBtu, lower by 2.91 pe...
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Petronas places out stakes in three companies
KUALA LUMPUR: Petroliam Nasional Bhd has disposed of some stakes in three of its related companies to Malaysia institutional funds.
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Petronas raises RM6b cutting listed unit stakes — sources
KUALA LUMPUR (Dec 9): Petroliam Nasional Bhd has raised about RM6 billion (US$1.4 billion) cutting its stakes in three listed units, people with knowledge of the matter said.
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Sugar supply liberalisation will benefit consumers in the long run — Chong...
KUCHING (Dec 9): The liberalisation policy on sugar supply in Sarawak will not result in an immediate effect to the price of the commodity but will definitely benefit consumers in the long term, Domes...
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EC has received court notification on Kimanis seat — Azhar
PUTRAJAYA (Dec 9): The Election Commission (EC) has received the official notification from the court on its decision in declaring the result for the P.176 Kimanis parliamentary seat in Sabah in the g...
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IHH receives shareholders' approval to acquire Prince Court
KUALA LUMPUR (Dec 9): IHH Healthcare Bhd hopes to complete its proposed acquisition of the Prince Court Medical Centre in the first quarter of 2020, following the strong approval obtained from its sha...
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NFCP project gets solid cooperation from state governments — Gobind
CYBERJAYA (Dec 9): The National Fiberisation and Connectivity Plan (NFCP) has received positive and solid cooperation from the state governments to help in achieving the targets of the project, said C...
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Malaysians spend 70% of monthly income on goods, housing and transport
KUALA LUMPUR (Dec 9): Almost 70% of Malaysians’ monthly income are spent on goods, housing and transport, Domestic Trade and Consumer Affairs Minister Datuk Seri Saifuddin Nasution Ismail said.
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KLCI dragged by declines at Top Glove, TNB and banking stocks
KUALA LUMPUR (Dec 9): The FBM KLCI closed 0.37% or 5.73 points lower at 1,562.71 today, weighed down by Top Glove Corp Bhd and Tenaga Nasional Bhd (TNB), while banking constituents declined.
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Former AG Apandi to be called in as defence witness in SRC trial
KUALA LUMPUR (Dec 9): Former attorney-general Tan Sri Mohamed Apandi Ali will be called in as a defence witness in former Prime Minister Datuk Seri Najib Razak’s SRC International Sdn Bhd corruption...
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Dollar holds ground as central bank meetings loom, pound jumps
LONDON, Dec 9 — The dollar held its ground today thanks to last week’s stronger-than-expected jobs data, although worries about US/China trade talks kept gains in check, while Britain’s pound ju...
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European companies minimise risks from US-China trade war
BEIJING, Dec 9 — European companies in China have been able to minimise the effect from the tariff war between Beijing and Washington, although some are considering relocating their businesses, the ...
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Bursa Malaysia ends lower on subdued sentiment
KUALA LUMPUR, Dec 9 — Bursa Malaysia finished lower today on subdued sentiments as weak export data from China, the country’s biggest trading partner, signalled weakness for the broader Asian econ...
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FGV rallies to 14 month high on report of new substantial shareholder
KUALA LUMPUR: FGV Holdings Bhd's share price rallied to a high of RM1.45 on Monday on expectations of a new substantial shareholder.
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Newsbreak: TH Plantations in advanced talks to sell assets in Sarawak
DEBT-LADEN TH Plantations Bhd (THP) is in advanced talks to sell some assets in Sarawak, in what may precede an exit from the state, as it seeks to raise cash for debt repayments.
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Newsbreak: Are issues cropping up at Felcra?
THE only thing worse than having one statutory body in a pickle is to have two in a quandary at the same time.
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Waytha Moorthy's suit against JMM president settled, Azwanddin to apologise
KUALA LUMPUR (Dec 9): The defamation suit filed by Minister in the Prime Minister’s Department Waytha Moorthy against Jaringan Melayu Malaysia (JMM) president Azwanddin Hamzah is settled after the l...
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411 detained in Sabah for corruption since 2015 — Latheefa
KOTA KINABALU (Dec 9): The Malaysian Anti-Corruption Commission (MACC) has detained 411 people from both public and private sectors, as well as members of the public in Sabah for corruption offences s...
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Asian markets mixed with US rally unable to inspire
HONG KONG, Dec 9 — Asian markets were mixed today as investors struggled to track a rally on Wall Street that was fuelled by a forecast-busting US jobs report, while there was little inspiration fro...
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Petronas stocks, Tenaga weigh on KLCI, plantations shine
KUALA LUMPUR: Petronas-linked stocks, Tenaga Nasional and Public Bank weighed on the FBM KLCI on Wednesday on continued fund selling but plantations brightened the gloomy market as crude palm oil (CPO) futures rallied past RM2,900.
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Insurance, road tax for Ahmad Zahid's 20 vehicles paid by Yayasan Akalbudi,...
KUALA LUMPUR (Dec 9): The High Court today was told that the road tax and insurance for 20 vehicles belonging to former Deputy Prime Minister Dr Ahmad Zahid Hamidi amounting RM107,509.55 was paid usin...
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Malaysia needs to enhance trade diversification, investment competitiveness —...
KUALA LUMPUR (Dec 9): The more challenging external environment has underscored the need for Malaysia to increase trade diversification and strengthen investment competitiveness moving forward, accord...
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Malaysia's consumer price inflation to rise to 1.5-2.0% next year — World Bank
KUALA LUMPUR (Dec 9): Malaysia’s headline inflation is expected to increase modestly in 2020, with consumer price inflation to average higher in the range of 1.5-2.0% next year as compared with 0.7%...
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King on special visit to UK
KUALA LUMPUR (Dec 9): Yang di-Pertuan Agong Al-Sultan Abdullah Ri'ayatuddin Al-Mustafa Billah Shah is making a special visit to the United Kingdom (UK) from today till Dec 16.
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Najib spent almost half a million ringgit on Rosmah's Chanel birthday watch
KUALA LUMPUR (Dec 9): Former prime minister Datuk Seri Najib Razak spent RM466,330.11 from his AmBank account — allegedly funds from SRC International Sdn Bhd — to buy a Chanel watch as a birthday...
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Singapore authority revokes Inter-Pacific Petroleum’s bunker supplier licence
SINGAPORE, Dec 9 — The Maritime and Port Authority of Singapore (MPA) has revoked the bunker supplier licence of Inter-Pacific Petroleum Pte Ltd effective today.
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EU fuels Indonesia trade tensions with 5-year biodiesel tariffs
BRUSSELS: The European Union imposed five-year tariffs on biodiesel from Indonesia to counter alleged subsidies to producers in the country, a move that could prompt the Indonesian government to retaliate.
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China says hopes it can reach trade agreement with US as soon as possible
BEIJING: China said on Monday that it hoped to make a trade deal with the United States as soon as possible, amid intense discussions before fresh U.S. tariffs on Chinese imports are due to kick in at the end of the week.
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Newsbreak: Berjaya in talks to sell stake in Kenny Rogers Intl business
BERJAYA Group is in preliminary talks to dispose of a substantial stake in Kenny Rogers International business to a foreign party, say several people familiar with the matter.
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Coffee Break: The Unpopular Guide to Happy Offices in 2020
Having happy employees who feel valued is key for any organisation.
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The State of the Nation: Positive, but muted, export growth seen in 2020
MALAYSIA’s export growth so far this year has been anything but stellar, with negative growth seen in five of the first nine months.
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The Week Ahead: A trade data-packed week before the year ends
It will be a busy week on the economic data front in Asia, even as more people head off for the year-end holidays.
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RTM upgrades equipment to meet international standards — Eddin Syazlee
KUALA LUMPUR (Dec 9): The Malaysian Broadcasting Department (RTM) is now actively upgrading its equipment to meet the international standards and to effectively and efficiently disseminate information...
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Sanichi says China's Second Construction Co keen on its Halal Gelatin...
KUALA LUMPUR (Dec 9): The Second Construction Co Ltd of China Construction Third Engineering Bureau, a key enterprise of China State Construction Engineering Corp (CSCEC), is said to have shown intere...
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1MDB scandal: Feb 3 for management of Obyu Holdings forfeiture case
KUALA LUMPUR (Dec 9): The High Court here today set Feb 3 next year for case management of a government’s application to forfeit assets worth RM680 million allegedly linked to 1Malaysia Development ...
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Originating summons filed against Samy Vellu because he has Alzheimer's — Vell...
KUALA LUMPUR (Dec 9): The originating summons filed by Datuk Seri S Vell Paari against his father Tun S Samy Vellu at the High Court was necessary, because the latter has been suffering from dementia ...
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More contribution from eCommerce sector this year: Communications and...
KUALA LUMPUR (Dec 9): The eCommerce sector is expected to increase its contribution to the economy this year from the RM115.5 billion or 8% last year, given the strong momentum and greater participati...
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Bursa Malaysia extends losses at mid-afternoon
KUALA LUMPUR, Dec 9 — Bursa Malaysia drifted lower at mid-afternoon today led by losses in selected heavyweights.
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Tokyo stocks close up for third straight session
TOKYO, Dec 9 — Tokyo stocks rose for a third consecutive session today, extending rallies on Wall Street as investors closely watched key events this week including central bank meetings and the UK ...
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Only option was to put South African Airways on rescue, says Ramaphosa
JOHANNESBURG, Dec 9 — South African Airways (SAA) had to be placed on “business rescue” because there was no other viable and financially workable option to secure a credible future for the stat...
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Sanofi to buy Synthorx for US$2.5b to expand in cancer
LONDON: French pharma giant Sanofi agreed to buy Synthorx Inc. for $2.5 billion, more than double the U.S. biotech company’s last market price, accelerating its push into the field of cancer under new Chief Executive Officer Paul Hudson.
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Oil near 12-week high after Saudis surprise with output curbs
SINGAPORE: Oil traded near the highest level in almost 12 weeks after Saudi Arabia surprised the market Friday with a significant supply cut beyond what was agreed to with fellow OPEC+ members.
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China sets up national pipeline company in major energy revamp
SINGAPORE: China announced the creation of its long-planned national oil and gas pipeline company, officially kicking off one of its biggest energy revamps aimed at helping supply keep pace with swelling demand.
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A US$1b grudge drove GM’s shock suit against Fiat Chrysler
SOUTHFIELD: General Motors Co. executives had laid the groundwork for a new labour agreement with the United Auto Workers union in September 2015. The company had met most of the union’s demands with a proposal that would have boosted pay and benefits by almost $1 billion over four years.
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Lead Story: Lessons from a rogue trader
KWEKU Adoboli was a rising star at investment bank UBS in London when his world collapsed spectacularly.
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Frankly Speaking: What about FIC’s board?
Last month, the Federal Land Development Authority (FELDA) and its subsidiary, Felda Investment Corp Sdn Bhd (FIC), filed a suit against 21 parties in an attempt to cancel land ownership transfer inst...
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Sluggish income growth among youth, low-income households contributes to 'left-...
KUALA LUMPUR (Dec 9): Slowing income growth among lower-income households and young workers has contributed to perceptions of being "left behind", the World Bank said in its latest Malaysia Economic M...
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Protasco associate lands ten-year job in Sarawak
KUALA LUMPUR (Dec 9): Protasco Bhd's 30%-owned associate company PJP Barisan HCM JV Sdn Bhd has secured a ten-year contract from the Public Works Department.
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Najib 'utterly shocked' Jho Low managed his accounts
KUALA LUMPUR (Dec 9): Former premier Datuk Seri Najib Razak said he was shocked to learn that fugitive financier Low Taek Jho — better known as Jho Low — was dealing with AmBank on the management ...
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Bank Rakyat 9M PBTZ up 4% to RM1.29b
KUALA LUMPUR: Bank Rakyat Group's profit before tax and zakat (PBTZ) for the nine months ended Sept 30,2019 rose by 4% to RM1.29bil, underpinned by financing and treasury activities.
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Frankly Speaking: Should this be how the cookie crumbles?
On Nov 29, London Biscuits Bhd (LBB) announced that it had impaired RM363.2 million worth of receivables in the third quarter ended Sept 30, 2019 (3QFY2019). That is nearly 18% more than its entire re...
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Najib says Azlin told him in 2014 King Abdullah will make more donations
KUALA LUMPUR (Dec 9): Former premier Datuk Seri Najib Razak told the High Court today that his principal private secretary, the late Datuk Azlin Alias, informed him in 2014 that he would receive furth...
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Najib says he never abused his public position with regard to two govt...
KUALA LUMPUR (Dec 9): Datuk Seri Najib Razak today denied that he had abused his power as a civil servant, regarding the two government guarantees (GGs) given to SRC International Sdn Bhd on Aug 17, 2...
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APEC 2020 to focus on redefining role of trade and investment
LANGKAWI (Dec 9): APEC 2020 will focus on redefining the role of trade and investment from one that is solely for wealth creation to one that is also able to deliver social and economic inclusivity.
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Maxis scores award hat trick
KUALA LUMPUR (Dec 9): Maxis Bhd achieved a hat trick when it made a clean sweep of highly coveted brand accolades at the Malaysia Effie Awards 2019, Kancil Awards 2019, and Putra Brand Awards 2019.
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All eyes on Lagarde’s ECB debut this week
FRANKFURT, Dec 9 — Christine Lagarde delivers her first monetary policy announcements as ECB president on Thursday, with observers set to scrutinise every word for hints of the bank’s future direc...
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Natural rubber production falls 21.4pc in Oct 2019
KUALA LUMPUR, Dec 9 — Malaysia’s natural rubber production in October 2019 decreased by 21.4 per cent to 48,549 tonnes from 61,731 tonnes in the preceding month, said the Department of Statistics ...
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Inflation, climate, jargon: ECB launches major review
FRANKFURT, Dec 9 — The European Central Bank’s (ECB) new president Christine Lagarde has announced that the Frankfurt-based institute will soon undertake a strategic review, its first since 2003.
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Jobs of the future are clustering in a handful of US cities, study finds
WASHINGTON, Dec 9 —  A new analysis of where “innovation” jobs are being created in the United States paints a stark portrait of a divided economy where the industries seen as key to future gro...
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Bursa Malaysia ends morning session lower
KUALA LUMPUR, Dec 9 — Bursa Malaysia ended the morning session lower today amid worries over uncertainties surrounding negotiations to broker a trade deal between the United States and China.
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Chinese policymakers expected to be flexible in drive for economic growth
CHINESE policymakers will likely be more flexible when setting next year's growth target, showing greater tolerance for slower growth in exchange for policy leeway to carry out longer-term reform objectives that are crucial to the country's high-quality development, analysts said on Sunday.
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Moody's 2020 outlook for Asia-Pacific banks negative
SINGAPORE: Moody's Investors Service's outlook for the banking industry in Asia Pacific (AsiaPac) is negative over the next 12 months as the US-China trade dispute will weaken economic and trade activ...
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Sentiment turns sour one week ahead of US tariffs deadline
KUALA LUMPUR: The local equities market turned to consolidation on Monday as a positive US jobs data report over the weekend failed to inspire optimism in the global economy as the deadline for fresh US tariffs on Chinese imports loomed.
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Leverage local tech, expertise for growth
NATIONAL agendas such as the Shared Prosperity Vision 2030 and the Ministry of International Trade and Industry’s (Miti) National Policy on Industry 4.0 (Industry4WRD) are emphasising the use of emerging technologies to fast-track industry transformation in order to spur economic growth.
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Getting credit management right
BEING a business owner in this day and age can prove to be an uphill challenge, especially when the company is still in its infancy.
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World Bank revises down Malaysia 2020 GDP target to 4.5% from 4.6%
KUALA LUMPUR (Dec 9): The World Bank Group has revised down Malaysia's 2020 gross domestic product (GDP) target to 4.5% from 4.6% previously on weaker-than-anticipated investment and export growth in ...
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KLCI pares loss, stays in the red as Tenaga and Public Bank drag
KUALA LUMPUR (Dec 9): The FBM KLCI pared some of its loss at the midday break today, but remained in negative zone, dragged by Tenaga Nasional Bhd and Public Bank Bhd.
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Sime Darby Plantation shares up on Liberian operation disposal news
KUALA LUMPUR (Dec 9): Sime Darby Plantation Bhd's shares were up in the morning session today after announcing the disposal of its Liberian operations.
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Syarikat Air Melaka must resolve water woes in one week — Melaka CM
MELAKA (Dec 9): The Melaka state government has given Syarikat Air Melaka Bhd (SAMB) one week to resolve water supply problems.
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YTD foreign sale of Malaysian equity breaches RM10b mark, says MIDF Research
KUALA LUMPUR (Dec 9): Foreign investors sold RM834.6 million of local equities last week, the highest weekly foreign net outflow in 17 weeks, according to MIDF Investment Bank Bhd Research.
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World Bank trims Malaysia’s GDP forecast in 2020 to 4.5pc
KUALA LUMPUR, Dec 9 — World Bank Group has revised Malaysia’s gross domestic product (GDP) growth forecast slightly down to 4.5 per cent for 2020 as compared with this year’s forecast of 4.6 per...
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MMC shares up slightly after bagging RM131m EPCC pipeline replacement contract
KUALA LUMPUR, Dec 9 — MMC Corporation Bhd shares rose slightly in the morning session today after securing an engineering, procurement, construction and commissioning (EPCC) of the PGU-I gas pipelin...
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Cahya Mata Sarawak shares up after securing long-term road maintenance contract
KUALA LUMPUR, Dec 9 — Cahya Mata Sarawak Bhd shares improved in the morning session today after its 51 per cent-owned subsidiary, PPES Works (Sarawak) Sdn Bhd, secured a 10-year road maintenance con...
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World Bank: More can be done to raise government revenue
KUALA LUMPUR: The World Bank believes the Malaysian government can do more to raise its revenue, forecasted to be at 15.2% of GDP in 2020, without affecting low-income households.
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Frankly Speaking: If he lied in 2015, why should we believe him now?
Back in 2015, when some news media, including The Edge, reported on 1MDB’s questionable transactions, Datuk Seri Najib Razak denied numerous times that Low Taek Jho (Jho Low) had anything to do with...
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Frankly Speaking: Digital tax hurts Malaysians, not FB or Google
Governments around the world are struggling to deal with what we call the “new colonialists” — tech giants like Facebook and Google.
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Hearing of suit by Abdul Azeez against Lim Guan Eng postponed to Feb 2
GEORGE TOWN (Dec 9): The High Court here today postponed to Feb 21 next year the hearing of the defamation suit filed by Baling MP Datuk Seri Abdul Azeez Abdul Rahim against former Penang Chief Minist...
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China's AI market to reach US$11.9b by 2023: white paper
BEIJING: The artificial intelligence (AI) market in China is expected to reach 11.9 billion U.S. dollars by 2023, said a new white paper.
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Ringgit easier in early on trade on better greenback demand
KUALA LUMPUR: The ringgit opened easier against the US dollar in early trade today, on better demand for the greenback amidst the upbeat US economic data.
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Global halal industry – low-hanging fruit for SME
THE global halal industry is a low hanging fruit waiting for the small and medium enterprises (SME) to harvest, says Entrepreneur Development Minister Datuk Seri Mohd Redzuan Mohd Yusof.
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Swedish startup tunes into original music demand
EPIDEMIC Sound, backed by Spotify’s investors, is one of a new wave of music companies expanding rapidly on the back of demand for easy access to original music from commercial users, especially YouTubers.
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Filling the healthcare gap
Group uses technology to address rising cost.
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Small businesses help revive rural Portugal
Tourist interest and funding opportunities draw entrepreneurs home.
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Instant noodles steaming back to life in China
Consumers drawn back by product innovation, rising food delivery prices.
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Novartis Malaysia awarded Top Employer Award for 2020
KUALA LUMPUR (Dec 9): Healthcare outfit Novartis Corporation (M) Sdn Bhd (Novartis Malaysia) has been awarded the Top Employer for 2020, in recognition of its excellence in people practices.
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World Bank revises down Malaysia 2020 GDP target to 4.5% from 4.6%
Flash: World Bank revises down Malaysia 2020 GDP target to 4.5% from 4.6%
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HLIB Research expects Pecca to declare 6.5 sen dividend for FY20
KUALA LUMPUR (Dec 9): Hong Leong Investment Bank Bhd Research (HLIB Research) has maintained its "buy" call on Pecca Group Bhd at RM1.17 with an unchanged target price of RM1.45, and said it expects P...
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AmInvest Research retains Buy on MMC Corp, FV RM1.58
KUALA LUMPUR: AmInvestment Research is maintaining its Buy recommendation on MMC Corporation (MMC).
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Ringgit easier in early trade on better demand for greenback
KUALA LUMPUR (Dec 9): The ringgit opened easier against the US dollar in early trade today, on better demand for the greenback amidst the upbeat US economic data.
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KLCI drifts lower as Petronas stocks and Tenaga drag
KUALA LUMPUR (Dec 9): The FBM KLCI drifted lower in early trade this morning, dragged by select index-linked blue chips, against the backdrop of steady regional markets.
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Golden years over for Latitude Tree
SHAH ALAM: While the worst is over for furniture maker Latitude Tree Holdings Bhd, its managing director Lin Chin Hung is quick to add that the company’s “golden years are [also] over”.
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Axis REIT hungry for more assets
KUALA LUMPUR: Axis Real Estate Investment Trust (REIT) is in talks with several parties on buying more assets, a clear indication that it does not intend to slow down in its acquisition spree.
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Investors would need to be ‘patient’ with Inari
KUALA LUMPUR: Investors eyeing Inari Amertron Bhd would have to be patient if they want to see the same kind of returns that the stock has delivered in the past.
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CCC-ECRL to ramp up construction work in 1st quarter
KUANTAN: Construction activities for the 640km East Coast Rail Link (ECRL), which passes through five states, will be ramped up soon in Pahang.
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Rocky road ahead for FBM KLCI, says Affin Hwang Capital
KUALA LUMPUR (Dec 9): Affin Hwang Capital Research has maintained its “Neutral” rating on the FBM KLCI with an end-2020 target of 1,660 points and said despite the KLCI's underperformance over the...
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Bursa Malaysia opens lower on market consolidation
KUALA LUMPUR, Dec 9 — Bursa Malaysia opened lower today as market consolidation momentum continued, dealers said.
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Japan third-quarter GDP growth revised up
TOKYO, Dec 9 — Japan’s growth in the July-September quarter was greater than initially estimated, thanks to strong pre-tax hike consumption and corporate investment, government data showed on Mond...
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Foreign investors ramp up selling on Bursa to RM834.6mil net
KUALA LUMPUR: Offshore funds accelerated their selling of equities on Bursa Malaysia last week to RM834.6mil, said MIDF research.
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Weak start for Bursa as Tenaga weighs on KLCI
KUALA LUMPUR: Blue chips slumped in early Monday trade, weighed down by declines in Tenaga Nasional and Axiata, as Bursa trailed the more positive key Asian markets.
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Tesco considers sale of Thai, Malaysia supermarket businesses
DUBAI: Britain’s biggest supermarket chain, Tesco Plc, is considering the sale of its supermarket businesses in Thailand and Malaysia.
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PIVB Research upgrades Tenaga to Neutral from Trading Sell
KUALA LUMPUR: PublicInvest Research has upgraded Tenaga Nasional Bhd (TNB) to Neutral (previously Trading Sell) with an uncharged target price of RM14.12.
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Saudi energy minister is confident of Opec+ unity
VIENNA: The Organisation of the Petroleum Exporting Countries (Opec) and its allies would only ease supply curbs and pump more oil once global crude inventories fall and pricing reflects a tighter market, Saudi Arabia’s energy minister told Reuters.
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Ringgit to strengthen towards 4.00 versus USD by end-2020, says RHB IB
KUALA LUMPUR (Dec 9): RHB Investment Bank Bhd expects the ringgit (MYR) to strengthen further towards 4.00 versus the US Dollar (USD) by end-2020.
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Tokyo stocks open higher with eyes on key global events
TOKYO, Dec 9 — Tokyo stocks opened higher today extending rallies on Wall Street after strong jobs data, as investors closely watched key events this week including central bank meetings and the UK ...
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RHB upbeat on Comfort Gloves' earnings prospects, maintains 'buy'
KUALA LUMPUR: Comfort Gloves Bhd's earnings for its financial year ending Jan 31, 2020, could benefit from its ongoing capacity expansion, R&D efforts in growing sales and demand for speciality gloves, says RHB research.
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Japan upgrades 3Q GDP as capex jump boosts domestic demand
TOKYO: Japan's economy expanded at a much faster-than-initially-reported pace in July-September, driven by resilient domestic demand even as exports took another hit from slowing global growth and rising trade tensions.
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HSBC reshapes senior team ahead of new CEO
London: HSBC Holdings Plc has begun to reshape top management, laying the groundwork for a new direction under its next boss.
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AOC, Sanders say I told you so, as Amazon, Facebook move to NYC
San Francisco: Democratic Representative Alexandria Ocasio-Cortez (AOC) and Presidential candidate Bernie Sanders are taking a victory lap after Amazon.com Inc and other technology giants leased millions of sq ft of office space in New York City – without the billions of dollars in government support that Amazon tried to negotiate earlier this year.
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T-Mobile US Inc girds for decisive battle with states over Sprint Corp
Washington: The future of the US wireless industry hinges on a court battle kicking off today in federal court in Manhattan, a case that could end with T-Mobile US Inc buying Sprint Corp, and Dish Network Corp getting the go-ahead to enter the market.
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China exports fall, but import growth hints of recovering demand
BEIJING: China’s exports in November shrank for the fourth consecutive month, underscoring persistent pressures on manufacturers from the Sino-US war but growth in imports may be a sign that Beijing’s stimulus steps are helping to stoke demand.
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South Korea invests in fintech unicorn
THE Finance Ministry announced last Wednesday plans to establish a 12 trillion won (RM42bil) fund to help support competent startups scale up as unicorns, allocating 300 billion won exclusively for fintech firms.
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Central banks battle trade war teams for attention
NEW YORK: Central bankers will vie with trade negotiators for the attention of investors this week.
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Asian Stocks Look Set to Start Week With Gains
(Dec 9): Asian stocks were poised to kick off the week with gains after U.S. equities rallied Friday on better-than-expected jobs data.
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Huawei to shift research from hostile US to Canada, says founder
OTTAWA, Dec 9 — Chinese tech giant Huawei, facing US criminal charges and economic sanctions, is planning to relocate its telecommunications research from the United States to Canada, founder Ren Zh...
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Global financial watchdogs take aim at Big Tech’s data dominance
LONDON, Dec 9 — Google, Alibaba and other “Big Tech” companies could be forced to share data on financial services customers with banks and financial technology firms to prevent unfair competiti...
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EU budget rules need rethink, says new commissioner
FRANKFURT, Dec 9 — The European Union’s (EU) new economy commissioner Paolo Gentiloni said the bloc should consider loosening its strict budget deficit rules to respond to climate risks and weak g...
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Banks may need political help to survive big tech
COPENHAGEN: First there was the financial crisis of 2008. Then years of negative interest rates. Now, banks face what one financial regulator calls the “real game changer”.
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7-Eleven soon to be pharmacy play
PETALING JAYA: 7-Eleven Malaysia Holdings Bhd is looking to get a foothold in the thriving Malaysian pharmaceutical industry following its proposed acquisition of Caring Pharmacy Group Bhd recently.
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Building global success
MORE than 15 years after Muhibbah Engineering (M) Bhd (MEB) received Construction Industry Development Board (CIDB) Malaysia’s International Achievement Award, it still retains its position among the top Malaysian construction companies for its global reach.
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All in good time
Local watch brand making a mark in the industry.
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Advertising platform Adwork launched
KUALA LUMPUR: The small and medium enterprises (SME) segment is poised for a shakeup.
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Work-life balance in the spotlight
KUALA LUMPUR: What is a long festering issue in Malaysia and around the world was thrust into the spotlight by the International Advertising Association (IAA) Malaysia at its recent forum series event.
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Loke: Consider consolidation to strengthen shipbuilding industry
LONDON: Local shipbuilding companies could consider consolidation to achieve better economies of scale amid a challenging environment that has resulted in mega-mergers and alliances among the super powers in the sector globally, according to Transport Minister Anthony Loke Siew Fook.
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Appetite for non-rated bonds
PETALING JAYA: The appetite for non-rated bonds, which was once thought to be “inferior” to their rated counterparts, is fast gaining traction in Malaysia.
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