<div class=newsTextDataWrapInner>SINGAPORE (April 1): The Competition and Consumer Commission of Singapore (CCCS) issued a set of interim measures directions (IMDs) to Foodpanda operator Delivery Hero and Grab Holdings on Feb 2, in relation to Grab’s possible acquisition of the whole or part of its rival's business in Southeast Asia, including Singapore.&nbsp;</div>

<div class=newsTextDataWrapInner>The statutory board of the Ministry of Trade and Industry noted in a media release on Monday that the IMDs ceased to have effect from Feb 23, after it was informed that the possible transaction had been abandoned.</div>

<div class=newsTextDataWrapInner>This followed an investigation commenced by the CCCS on Jan 10 into whether the possible transaction would infringe Section 54 of the Competition Act 2024<a href="https://www.theedgesingapore.com/news/regulatory-action/cccs-issued-set-interim-measures-directions-grabs-possible-acquisition" target="_blank">...(click here for the full story on theedgesingapore.com).</a></div><div class=inPageAd id=div-gpt-ad-inpage></div>

The Competition and Consumer Commission of Singapore (CCCS) issued a set of interim measures directions (IMDs) to Foodpanda operator Delivery Hero and Grab Holdings on Feb 2, in relation to Grab’s possible acquisition of the whole or part of its rival's business in Southeast Asia, including Singapore.

Set of interim measures directions issued over Grab's possible acquisition of Delivery Hero’s business in Singapore

NEW DELHI (May 9): Malaysia's former health minister Khairy Jamaluddin Abu Bakar has been named a member of India-based Fischer Medical Ventures Ltd's board.

The company, formerly known as Fischer Chemic Ltd, announced his appointment as additional director in the capacity of independen...

Khairy Jamaluddin named member of India-based company's board

The federal government is determined to eradicate hardcore poverty in Terengganu within the next two months, said Prime Minister Datuk Seri Anwar Ibrahim.

He said as of May 2, there were 1,663 families in the state still in the hardcore poor group.

Hardcore poverty in Terengganu to be eradicated in two months

The number of Americans filing new claims for unemployment benefits rose last week to the highest level in more than eight months, further evidence that the labour market was cooling.

US weekly jobless claims highest in more than eight months

Property developer Kerjaya Prospek Property Bhd (KL:KPPROP) will jointly develop a piece of freehold land in Aspen Vision City, Batu Kawan, Penang into a mixed development that will include a hotel and serviced apartments.

Kerjaya Prospek Property to jointly develop Penang plot with Aspen group

Prime Minister Datuk Seri Anwar Ibrahim on Thursday held a closed-door meeting with Terengganu Menteri Besar Datuk Seri Dr Ahmad Samsuri Mokhtar and attended a briefing on the development of the state at Wisma Darul Iman here.

Anwar, Terengganu MB hold closed-door meeting

SINGAPORE (May 9): Wilmar International Ltd has secured a US$100 million (S$135.7 million) sustainability-linked loan from Malayan Banking Bhd (KL:MAYBANK).

Wilmar secures US$100m sustainability-linked loan from Maybank

China's largest contract chipmaker SMIC reported a first-quarter revenue rise of 19.7% on Thursday, as its global customers rebuilt their inventories.

Chinese chipmaker SMIC says revenue up 20% as clients restock

SINGAPORE (May 9): Fraser and Neave, Ltd has reported a 2% year-on-year rise in revenue for its 1HFY2024 to S$1.07 billion, with its key food and beverage business having been the key driver.

Fraser & Neave’s 1H earnings jump despite flattish revenue, thanks to lower costs

China Eastern Airlines has announced the launch of a daily passenger flight service starting June 30, connecting Nanjing, capital of east China's Jiangsu Province, with Kuala Lumpur, capital of Malaysia, reported Xinhua.

New passenger air route to link Nanjing and Kuala Lumpur

KUALA LUMPUR (May 9): The East Coast Rail Link (ECRL) project has started its system installation works, marking the final phase of construction works before entering the testing and commissioning stage.

ECRL project contractor commences system installation works

The property arm of Sunway Bhd (KL:SUNWAY), Sunway Property's newly launched Sunway Velocity 3 residential project has achieved a take-up rate of 60%, with over 400 out of 695 units snapped up during its opening weekend on May 4.

Sunway Velocity 3 residential development 60% taken up at launch 

Shares of VSTECS Bhd (KL:VSTECS) climbed to a new all-time high on Thursday as investors scrambled for a piece of the company that has been appointed the country’s first distributor of Amazon Web Services (AWS).

VSTECS shares hit new record high on Amazon Web Services partnership

Transport Minister Anthony Loke on Thursday said the ship allegedly owned by an Israeli company while using a port in this country has actually changed ownership. It now belongs to another company based in Hong Kong.

Alleged Israeli ship that recently docked in Malaysia has changed hands, Loke clarifies

A total allocation of RM180 billion in the construction sector for government and private sector projects will be up for grabs this year, according to Deputy Works Minister Datuk Seri Ahmad Maslan.

RM180 bil available for construction sector jobs this year — Ahmad Maslan

MEMBERS’ ability to decide not to transfer existing Employees Provident Fund (EPF) savings into the newly created Flexible Account 3 for anytime withdrawals is seen as the saving grace to what critics deem as a short-sighted compromise that will prove to have longer-term consequences.

I...

Cover Story: Who pays for anytime EPF withdrawals?

KUALA LUMPUR (May 9): The Securities Commission Malaysia has finally managed to charge a man related to a securities fraud involving RM17.6 million in 2007, following his arrest on his return to Malaysia on Wednesday (May 8) after having evaded authorities for 15 years.

Man who evaded the law for 15 years charged with abetment in securities fraud

Shares of Sarawak Cable Bhd (KL:SCABLE) fell to its lowest in five months on Wednesday after the loss-making cable manufacturer's so-called resuscitation exercise has been terminated.

Sarawak Cable shares fall to five-month low after losing its white knight

Malaysia’s central bank on Thursday left the benchmark interest rate unchanged as widely expected, citing improving economic activity amid moderate inflation.

BNM keeps overnight policy rate unchanged as widely expected

Shares of Kerjaya Prospek Group Bhd (KL:KERJAYA) surged to a new record high on Thursday, as investors bet on better earnings growth for its upcoming financial results for the first quarter ended March 31, 2024 (1QFY2024).

Kerjaya Prospek shares at fresh record high on expectation of better 1Q

The Federal Court on Thursday agreed to hear the merits of the appeal filed by the National Feedlot Corporation Sdn Bhd (NFCorp) and four others, including its chairman Datuk Seri Mohamad Salleh Ismail, for damages against Public Bank Bhd (KL:PBBANK).

At the same time, the apex court also granted leave to Public Bank's cross-appeal, to challenge the outcome of the Court of Appeal’s decision that had overturned the High Court’s decision to grant RM10,000 in damages to NFCorp and others, and RM500,000 in costs to be paid by the bank.

Apex court allows merits of both NFCorp and Public Bank appeals to be heard in account info leak case

Solarvest Holdings Bhd (KL:SLVEST) said on Thursday that it has secured a contract worth RM40.4 million to install rooftop solar photovoltaic (PV) systems.

Solarvest bags RM40.4m contract from Scientex to install rooftop solar PV systems

LBS Bina Group Bhd (KL: LBS) has launched SkyRia, the latest addition to its D'Island Residence project in Puchong.

LBS Bina launches RM457 mil SkyRia residential project in Puchong

Mah Sing Group Bhd (KL:MAHSING), via its unit Star Residence Sdn Bhd, officially launched its latest serviced apartment development named M Zenya in Kepong, Kuala Lumpur on May 9 during the opening ceremony of its sales gallery at Sungai Mas Plaza at Jalan Ipoh.

Mah Sing officially launches M Zenya serviced apartment in Kepong with 92% take-up

Glove manufacturer Supermax Corp Bhd (KL:SUPERMX) is acquiring the remaining 33% equity interest in its 67%-owned subsidiary Supermax Healthcare Canada Inc (SHCI) for C$5.5 million (RM18.96 million) cash.

Supermax is acquiring the stake from Sylvain Bergeron, who has been a business partner of the company since 2004 when Supermax's founder and managing director Datuk Seri Stanley Thai Kim Sim partnered with Bergeron to start the Canadian branch of Supermax.

Supermax acquires remaining stake in 67%-owned loss-making Canadian unit for RM18.96 mil cash

The government must ensure that foreign direct investments (FDI) to develop data centres in Malaysia will benefit local players, according to speakers at the National Economic Forum 2024 here hosted by the National Chamber of Commerce and Industry of Malaysia.

Govt urged to ensure FDI on data centres benefit local players

Malaysia’s largest telecom company by revenue Axiata Group Bhd (KL:AXIATA) may face earnings pressure from a potential merger of its unit PT XL Axiata with PT Smartfren Telecom in Indonesia, and investors should sell the stock, said MIDF Amanah Investment Bank.

MIDF says Axiata may face earnings pressure ahead, downgrades stock to 'sell'

MCE Holdings Bhd said Brahmal Vasudevan has emerged as a substantial shareholder with a 5.02% indirect stake in the automotive parts and accessories manufacturer.

Brahmal held 6.2 million shares in MCE via Creador Conscienta Ltd, who raised its stake beyond 5% following the acquisition of 100,000 shares earlier on Thursday.

Creador’s Brahmal emerges as substantial shareholder of MCE Holdings

Former finance minister Tun Daim Zainuddin has failed in his appeal to reinstate his legal challenge against the Malaysian Anti-Corruption Commission (MACC) over its investigation into his and his family’s finances, which had led to the freezing of their various accounts and the seizure of Ilham Tower.

Daim and family fail to reinstate legal challenge against MACC investigations and criminal charges

KUANTAN (May 9): An armoured vehicle plant will be built&nbsp;in the Padang Tengku Industrial Estate (Phase II) to further boost the development of the Lipis district as a defence city, thus stimulating the economic growth of the local population, as well as job opportunities.

Armoured vehicle plant to be built in Lipis — Pahang MB

WhatsApp’s begun working freely and consistently for some users in China despite a longstanding government ban on the messaging service, an unusual phenomenon for a country with some of the world’s strictest internet curbs.