Money
Aeon Credit says it will focus on asset quality, digitalisation for sustained earnings growth
KUALA LUMPUR (June 20): Aeon Credit Service (M) Bhd (KL:AEONCR) wants to enhance its asset quality while expanding its business reach to higher income segments to position itself for sustained earnings growth. Aeon Credit plans to digitise its onboarding process, allowing it to serve a wider range of customers, and further leverage artificial intelligence (AI) credit scoring and risk-based collection strategies to improve its asset quality....
MoneyOCK Group deputy chairman, ED resign amid internal board restructuring
KUALA LUMPUR (June 19): OCK Group Bhd (KL:OCK) announced on Wednesday that its deputy chairman Abdul Halim Abdul Hamid and executive director Chang Tan Chin have resigned, with immediate effect, as part of the board's internal restructuring efforts. Abdul Halim and Chang have been serving on OCK's board since their appointments in October 2011. Neither of them holds any shares in the telecommunications tower company, according to OCK’s filing....
Money'Certain protocols' prevented SRC board from directly engaging with Najib, says Suboh
KUALA LUMPUR (June 20): Former SRC International Sdn Bhd director Datuk Suboh Md Yassin told the High Court on Thursday that the company's board of directors did not directly engage with then-prime minister Datuk Seri Najib Razak due to "certain protocols". Testifying in the company's ongoing civil action against Najib, Suboh said that despite being misrepresented by SRC’s then chief executive officer Nik Faisal Ariff Kamil over the management's...
MoneyNajib and Irwan’s IPIC trial postponed again, judge warns against further delay
KUALA LUMPUR (June 19): Former prime minister Datuk Seri Najib Razak's fourth criminal trial has been postponed again, following the previous postponement on June 4. The trial where Najib is accused along with former Treasury secretary general Tan Sri Dr Mohd Irwan Serigar Abdullah on six counts of criminal breach of trust (CBT) — over more than RM6.6 billion of government funds to International Petroleum Investment Company (IPIC) — was supposed...
MoneyCover Story: My Say: All eyes on Malaysia amid global chip war
This article first appeared in The Edge Malaysia Weekly on June 10, 2024 - June 16, 2024 IT is not very often that Malaysia garners global attention for good reasons. Amid escalating geopolitical tensions between the US and China, and supply chain diversification worldwide, Malaysia is now in a sweet spot to become a third force in the global semiconductor industry. Following back-to-back reports by Financial Times and The New York Times in...
MoneyDeloitte auditor who signed off on 1MDB 2013 and 2014 audit reports will have to face second disciplinary proceeding, apex court rules
PUTRAJAYA (June 19): The second disciplinary proceeding against Deloitte auditor, Ng Yee Hong, for possible professional misconduct over his role in signing off on the 1Malaysia Development Bhd audit reports ending March 31, 2013 and March 31, 2014 will proceed. The second proceeding follows a complaint from former Damansara Member of Parliament Tony Pua against Ng over his role in preparing the audit report. The Federal Court on Wednesday...
MoneyHamdan’s surprise exit from Ranhill paves the way for YTL Power in Johor water sector
This article first appeared in The Edge Malaysia Weekly on June 10, 2024 - June 16, 2024 THE surprise exit of Tan Sri Hamdan Mohamad from Ranhill Utilities Bhd (KL:RANHILL) has paved the way for YTL Power International Bhd (KL:YTLPOWR) to gain a foothold in the water supply sector in Johor. YTL Power first emerged as Ranhill’s substantial shareholder last November after it bought a substantial stake of close to 19% for RM140 million, or 58 sen...
MoneyMalaysia will see full recovery in Chinese tourist arrivals — HSBC
KUALA LUMPUR (June 19): Malaysia will see a full recovery in the return of Chinese tourists this year on top of booming foreign direct investments and exports to China, according to HSBC. Malaysia is one of the main beneficiaries of an accelerated arrival of Chinese tourists thanks to the visa-free scheme, HSBC said in a note assessing the linkages between the two countries. Malaysia has yet to release the latest tourism figures, though high...
MoneyBrokers Digest: Local Equities - ITMAX System Bhd, Kimlun Corp Bhd, IHH Healthcare Bhd, Datasonic Group Bhd
This article first appeared in Capital, The Edge Malaysia Weekly on June 10, 2024 - June 16, 2024 ITMAX System Bhd Target price: RM2.65 BUY MAYBANK INVESTMENT BANK GROUP RESEARCH (JUNE 5): ITMAX (KL:ITMAX) has secured its maiden Letter of Award (LoA) for smart parking operations in Johor, in effect creating a new revenue vertical for the group. ITMAX’s 65%-subsidiary, Southmax Sdn Bhd (SSB) was awarded a LoA by Majlis Bandaraya Iskandar Puteri...
MoneyParamount takes unconventional road for overseas ambition
This article first appeared in The Edge Malaysia Weekly on June 10, 2024 - June 16, 2024 PARAMOUNT Corp Bhd (KL:PARAMON) is known as a steady and predictable counter, so much so that some would even call it “boring”. As such, the announcement last month that the property developer was buying 517 million shares, equivalent to a 21.5% strategic stake, in Ecoworld International Bhd (KL:EWINT) took the market by surprise and made investors sit up....
MoneyHLIB upgrades property sector, sees benefits from revamped MM2H policy
KUALA LUMPUR (June 18): Hong Leong Investment Bank (HLIB) research has upgraded its rating on the property sector to “overweight” from “neutral”. In a sector update on Tuesday, the research house said its top picks in the sector include IOI Property Group Bhd (KL:IOIPG), OSK Holdings Bhd (KL:OSK), Sime Darby Property Bhd (KL:SIMEPROP), and Sunway Bhd (KL:SUNWAY). This follows an announcement last week by the Ministry of Tourism, Arts and Culture...
MoneyFrom rising O&G star to two-sen stock: Serba Dinamik’s short seven-year Bursa journey
This article first appeared in The Edge Malaysia Weekly on June 10, 2024 - June 16, 2024 THE past three years have not been easy for Serba Dinamik Holdings Bhd (KL:SERBADK) after audit discrepancies were revealed, culminating in the delisting of its shares last Wednesday following Bursa Malaysia’s rejection of its final appeal to remain on the bourse. The company was removed from the stock exchange on June 5. In truth, the writing had been on...
MoneyBoustead Holdings creditors uneasy with delay in Affin Bank stake sale
This article first appeared in The Edge Malaysia Weekly on June 10, 2024 - June 16, 2024 BOUSTEAD Holdings Bhd (KL:BSTEAD) is understood to be in talks with a number of financial institutions to seek their indulgence as lenders and allay fears of triggering a cross default, sources familiar with the matter tell The Edge. The conglomerate and its parent company Lembaga Tabung Angkatan Tentera (LTAT) are like ants on a hot pan as the sale of a 25%...
MoneySpotting Crypto Scams And How To Avoid Them
While crypto isn’t as insane as it used to be, scammers are still everywhere. The post Spotting Crypto Scams And How To Avoid Them appeared first on iMoney Malaysia.
MoneyChanges slated to take place at Petronas
This article first appeared in The Edge Malaysia Weekly on June 10, 2024 - June 16, 2024 CHANGES are afoot at a high level at Petroliam Nasional Bhd (Petronas), and most likely will materialise by early next month, sources familiar with the national oil company tell The Edge. It is understood that Datuk Adif Zulkifli, executive vice-president and CEO of the company’s upstream business, may be transferred to take over the position of executive...
MoneyWaz Lian founder Ta Kin Yan passes away in sleep — reports
KUALA LUMPUR (June 15): Waz Lian Group founder Tan Sri Ta Kin Yan passed away in his sleep in the afternoon on Sunday at the age of 72, according to various news reports. Born in 1952, Ta was also the founder and chairman of Majestic Gen Sdn Bhd, but his footprint was not limited to just real estate development; he was also known to be involved in a myriad of businesses, from hotel and resort management to manufacturing to golf club operation....
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