Effective March 1, Eric Chan — former regional managing director at Jardine Cycle & Carriage Limited Singapore, Malaysia, Indonesia, and Myanmar — assumes the roles of Carsome group president and group chief operating officer (COO).

Carsome appoints Eric Chan as new group president, COO

A controlling block of 92 million shares, or a 48.3% stake, in Rexit Bhd was crossed on Wednesday morning via a direct business transaction.

48% stake in Rexit changes hands; new controlling shareholder likely to emerge

KUALA LUMPUR (Dec 10): Casino tycoon Tan Sri Dr Chen Lip Keong — founder, major shareholder and senior chief executive officer of NagaCorp Ltd — passed away at the age of 75, according to Chinese newspaper Nanyang Siang Pau.

NagaCorp boss Chen Lip Keong passes away at 75 — report

Datuk Azman Ismail, former managing director and chief executive officer at PLUS Malaysia Bhd, has emerged as one of the contenders in the race to lead Digital Nasional Bhd (DNB), sources say.

Former PLUS CEO Azman Ismail, Vell Paari, Al-Ishsal Ishak tipped as DNB CEO contenders

KUALA LUMPUR (July 21): Creador-backed retail pharmacy chain BIG Pharmacy Healthcare Sdn Bhd has inked a deal to buy its competitor Caring Pharmacy Group Bhd from convenience store operator 7-Eleven Malaysia Holdings Bhd in a deal worth about RM900 million, sources told The Edge.

BIG Pharmacy to acquire Caring Pharmacy from 7-Eleven Malaysia for RM900 mil — sources

Pelikan International Corp Bhd is said to have sealed a cash deal to sell its stationery business to a European firm for about RM680 million to RM700 million.

Pelikan, which has made known its intention to divest of the stationery business, will distribute the cash proceeds to shareholders in the form of capital repayment after paying off its borrowings, according to a source familiar with the negotiations.

Pelikan planning bumper dividend after sealing over RM680m asset sale deal — source

CIMB Group Holdings Bhd’s investment bank, CIMB Investment Bank Bhd, inked a deal earlier on Friday (April 7) to acquire KAF Equities Sdn Bhd from KAF Investment Bank Bhd (KAF IB), sources said.

CIMB Investment Bank inks deal to buy KAF Equities, sources say

Datuk Nik Airina Nik Jaffar, director of special projects and corporate finance at UEM Group Bhd, is said to have been appointed as new managing director and chief executive officer of PLUS Malaysia Bhd, according to sources.

Nik Airina Nik Jaffar is said to be PLUS Malaysia’s new MD and CEO

KUALA LUMPUR (Feb 25): Digital health platform and e-prescriptions issuer DOC2US is set to be physically operating in Saudi Arabia, bringing in and setting up its ecosystem and infrastructure in the country to provide digital healthcare services for international pilgrims and travelers.

DOC2US plans to invest US$1 mil to set up physical ops in Saudi Arabia, say sources

Former Civil Aviation Authority of Malaysia (CAAM) chief executive officer Datuk Captain Chester Voo Chee Soon is set to join AirAsia Aviation Group Ltd (AAAGL), the aviation arm of Capital A Bhd, as the group chief operating officer, The Edge has learned.

Ex-CAAM CEO Chester Voo to join Capital A's aviation arm, sources say

CIMB Group Holdings Bhd is looking to split the chief executive officer (CEO) job at its group wholesale banking segment into two, resulting in co-CEO positions to separately oversee the treasury and markets segment as well as the corporate and investment banking segment, said multiple sources familiar with the matter.

CIMB looks to split CEO job at wholesale banking; ex-JPMorgan banker to join as co-CEO — sources

Local e-prescription service provider DOC2US is set to ink a strategic regional partnership with Watsons Malaysia.

DOC2US set to ink strategic regional partnership with Watsons Malaysia

The Securities Commission Malaysia’s (SC) managing director Foo Lee Mei, general counsel Chee Fei Meng plus executive director of digital strategy and innovation Chin Wei Min are understood to have quit.

Three more top officials leave SC

Several sources say Berjaya Corp Bhd’s (BCorp) chief executive officer Abdul Jalil Abdul Rasheed will be stepping down from his post to pursue his personal interests.

Abdul Jalil to step down as Berjaya Corp CEO to pursue personal interests

UOB intends to continue collaborating with the Johor government to drive investment and trade into Malaysia, following the establishment of the Johor-Singapore special economic zone (SEZ).

UOB committed to bringing investments into Malaysia after meeting with Johor MB

Perdana Petroleum Bhd (KL:PERDANA) has announced the resignation of Datuk Hasmi Hasnan from its board of directors, effective Monday.

Dayang chairman quits Perdana Petroleum's board

Four multinational firms with total investments of RM7 billion have ceased operations in Malaysia during the first half of 2024, according to Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

Four multinational firms with investments totalling RM7b ceased operations in 1H2024 — Zafrul

Here is a brief recap of some business news and corporate announcements that made the headlines on Monday.

TM, Southern Score, TNB, Vitrox, PUC, Kinergy Advancement, Heineken Malaysia, Country Heights

The US Supreme Court for the first time on Monday recognised that ex-presidents have immunity from prosecution for certain actions taken in office, as it threw out a judicial decision rejecting Donald Trump's bid to shield himself from criminal charges involving his efforts to undo his 2020 election loss.

US Supreme Court rules Trump has immunity for official, not private acts 

Banking stocks lifted the Dow, while semiconductor shares weighed on the Nasdaq on Monday as focus moves to labour market data due later in the week for cues on the Federal Reserve's monetary policy path.

Banks lift Dow, semiconductor shares weigh on Nasdaq

The development and implementation of the Central Database Hub (Padu) system over three years from 2023 to 2025 is expected to cost RM85.27 million, said Economy Minister Rafizi Ramli.

Padu expected to cost over RM85m over three years — Rafizi

Affin Bank Bhd (KL:AFFIN) on Monday said the company and its wholly-owned unit Affin Hwang Investment Bank Bhd have established a commercial paper (CP) and medium-term notes (MTN) programmes, with a combined value of RM5 billion.

Affin Bank, Affin Hwang establish commercial papers and MTN programmes worth RM5b

An elderly voter from Kampung Sungai Buaya here was pleasantly surprised when a political campaign visit to his home for the Sungai Bakap by-election revealed that Pakatan Harapan (PH) candidate Dr Joohari Ariffin was an old acquaintance.

Che Dan Razak, 85, took a moment to study Joohari's campaign poster before realising that they knew each other from his days as an imam at Masjid Kampung Besar and teaching religious studies in Sungai Bakap.

Sg Bakap polls: Former imam delighted by unexpected reunion with Joohari

The US Supreme Court on Monday revived a North Dakota convenience store's challenge to a Federal Reserve regulation on debit card "swipe fees" in a ruling that could make it easier for businesses to try to undo longstanding federal rules.

Supreme Court 'swipe fees' ruling may open US regulations to more suits

After three straight years of growth, domestic consumption for steel is expected to grow further this year, to between 8.3 million tonnes and nine million tonnes this year, according to a forecast by the Malaysian Iron and Steel Industry Federation (Misif).

Data centre boom, chip industry expansion expected to boost local steel demand

The chief executive officer of a highway concessionaire who was arrested by the Malaysian Anti-Corruption Commission (MACC) in connection with the alleged bribery involving highway contracts worth RM1.67 billion has been released on bail.

The CEO, who has a "Datuk" title, was released on Monday, a day before his extended eight-day remand order expires on Tuesday. Arrested last Monday, he was originally remanded till Friday, until an order was obtained from the court to extend his remand.

CEO of highway concessionaire arrested over RM1.67 bil contracts released on bail

Bank Negara Malaysia (BNM) announced that Project Nexus, a multilateral platform that seeks to enhance cross-border payments, is ready to proceed to phase four, following the successful completion of its comprehensive blueprint in phase three.

BNM: Regional payment platform Project Nexus is preparing to go live

World’s first independent airport lounge operator Plaza Premium Group (PPG) said on Monday that its Plaza Premium Lounge has bagged the world's best independent airport lounge at the World Airline Awards 2024.

Plaza Premium Lounge named world’s best independent airport lounge for eight years in a row

ViTrox Corp Bhd (KL:VITROX) will begin construction of the first block of its planned five-block ViTrox Institute of Technology (VIT) on July 8 after it had appointed South Island Building Sdn Bhd (SIB) as the contractor for the project in a deal worth RM45.99 million.

ViTrox to begin construction of training and industrial research center after RM46 mil contract award to SIB

Mah Sing Group Bhd (KL:MAHSING) topped out both towers of M Arisa, its affordable residential development in Sentul. The project is slated to be completed by 4Q2024 with construction currently at around 85% completed.

Mah Sing tops out M Arisa in Sentul

Sapura Energy Bhd said it has been “advancing its plan” to regularise its financial position since being classified as a Practice Note 17 (PN17) company and given time extension to come up with the plan.

Sapura Energy says 'actively developing' financial regularisation plan

An Opposition member of Parliament (MP) has called on the Ministry of Defence to clarify whether the Armed Forces Fund Board (LTAT) is in talks to sell the petrol station operator Boustead Petroleum Marketing Sdn Bhd (BHPetrol).

Opposition MP alleges LTAT in talks to sell BHPetrol to Saudi Aramco

The Ministry of Investment, Trade, and Industry (Miti) is working with the Construction Industry Development Board (CIDB) and the Works Ministry to explore ways to enforce a more stringent localisation programme for government construction projects, as one of the ways to address the issue of overcapacity faced by the iron and steel industry.

“The iron and steel industry is a very important yet delicate industry that requires a lot of attention from policy makers. The iron and steel industry is heavily influenced by global factors. Policy changes or market trends in China or the US would have a huge 'butterfly effect' on the profitability or even survival of the Malaysian steel industry,” said Deputy Investment, Trade and Industry Minister Liew Chin Tong.

Miti working with construction industry, Works Ministry to ensure more local steel used in govt projects

EVEN as it prepares for the launch of the Chinese electric vehicle (EV) model XPeng G6 in the Malaysian market, Bermaz Auto Bhd (KL:BAUTO) is not planning on bringing in a huge volume of the car.

This is because the group believes the country’s ecosystem for EVs — from charging stations...

Bermaz cautious on EV demand even as it gets ready for XPeng G6 launch 

One way of looking at the eurozone is as a forest where dry tinder is piling up. The locals are not doing much to clear the debris, and some are wandering around with naked flames. But they know it would be foolish to throw lit matches on the forest floor. Besides, there is a fire engine which will probably ride to the rescue.

The risk of a euro crisis is rising

Telekom Malaysia Bhd (KL:TM) said it has been awarded a RM1.25 billion contract to undertake a new emergency call system, which will be a continuation of the existing Malaysia Emergency Response Services 999 (MERS999) system.

TM awarded RM1.25b contract to undertake new emergency call system for 12 years

Here is a brief recap of some business news and corporate announcements that made the headlines on Monday.

The growing prospect of a Trump presidential victory is making yield curve steepeners an attractive bet as growth will likely slow and inflation quicken under such a scenario, according to Morgan Stanley.

Trump ascendancy has Morgan Stanley team touting steeper US yield curve

Toyo Ventures Holdings Bhd (TVHB) (KL:TOYOVEN) said it has postponed the commencement of engineering, procurement, commissioning and construction (EPCC) works for its thermal power plant project in Vietnam by up to six months.

Toyo Ventures defers commencement of EPCC works for Vietnam thermal power plant

Oil and gas (O&amp;G) support services provider Steel Hawk Bhd (KL:SKHAWK) has inked an underwriting agreement with UOB Kay Hian Securities (M) Sdn Bhd for the transfer of its listing from Bursa Malaysia’s LEAP Market to the ACE Market.

Steel Hawk inks underwriting deal with UOB Kay Hian for ACE Market transfer listing

AirAsia X has announced a brand new route to Nairobi, Kenya in Africa, targeting to carry 156,000 travellers annually.

Airasia X launches first Africa route, targets 156,000 annual travellers 

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

EVENING 5: Five things you need to know today

Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Monday.

FBM KLCI up 0.51% to 1,598.20 on July 1, 2024

Four multinational firms with total investments of RM7 billion have ceased operations in Malaysia during the first half of 2024, according to Minister of Investment, Trade, and Industry Tengku Datuk Seri Zafrul Abdul Aziz.

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