KUALA LUMPUR (Jan 7): Adnex Group Bhd has signed an agreement with Public Investment Bank Bhd to underwrite its initial public offering (IPO) on the ACE Market. Under the agreement, Public Investment will underwrite shares set aside for the Malaysian public and the "pink form" allocation for eligible persons, the interior fit-out services firm said in a statement. “The signing of this underwriting agreement represents another major step in our journey towards becoming a listed company,” said Adnex managing director Kan Wai Chun. Headquartered in Shah Alam, Selangor, Adnex specialises in interior fit-out services for commercial and industrial properties, including corporate offices, food-and-beverage outlets, and sales galleries. Post-listing, Wai Chun’s shareholding will fall to 55.5% from 75% while Wai Peng’s ownership will be diluted to 18.5% from 25%.

The latest decision was made, notwithstanding that the 2009 High Court decision was upheld by the Court of Appeal and Federal Court in 2012. The calculation and compensation for the illegal acquisition will now be determined by High Court judge Roslan Mat Noor. Mesne profit is the rental loss that could have been obtained by Semantan Estate for the property if it had continued to own the land. Whatever the outcome, each separate finding could be subject to an appeal to the Court of Appeal and Federal Court. “It would be ‘horrendous’ if an order were issued to return the land to Semantan Estate after nearly 70 years.

Malaysia’s top construction players, including Gamuda Bhd and IJM Corp Bhd, may see increased opportunities this year as headline job flows in the sector are expected to remain on par with 2024-2025, supporting steady expansion of the industry’s order book. NSTP/SAIFULLIZAN TAMADIKUALA LUMPUR: Malaysia's top construction players, including Gamuda Bhd and IJM Corp Bhd, may see increased opportunities this year as headline job flows in the sector are expected to remain on par with 2024-2025, supporting steady expansion of the industry's order book. Hong Leong Investment Bank Bhd (HLIB) highlighted hyperscale data centres as a key growth driver, with larger campuses potentially taking shape in 2026. The bank is maintaining its "Overweight" stance on the sector for 2026, supported by an ongoing order book expansion phase. HLIB's top sector picks are Gamuda (Buy; target price: RM6.88) and IJM (Buy; target price: RM3.40).

And why did the case involving politically connected entrepreneur Datuk Farhash Wafa Salvador’s mineral exploration licence fizzle out without any charges? The Attorney-General’s Chambers (AGC) — the body responsible for deciding whether prosecution proceeds — has kept quiet on why the case has stalled. This also makes a strong case for the separation of the roles of the public prosecutor and the attorney-general. Only a little less beguiling, was the case of Farhash, the former political secretary of Prime Minister Datuk Seri Anwar Ibrahim. In early 2025, MACC investigated claims that Farhash had acquired a mineral exploration licence through a politically connected company.

The affected materials would be the same seven elements that China restricted in April in response to the trade war launched by the US. Since 2010, when China banned rare earths supplies to Japan as part of a territorial dispute, Tokyo has made some progress in building up a supply chain outside China. In particular, the Japanese government and industry bankrolled the expansion of Australia’s Lynas Rare Earths Ltd, one of the few Western miners and processors of the minerals. In 2024, a former minister told Bloomberg that Japan’s dependence on China for the full suite of 17 rare earths had fallen to 60% from 80%-90%. The threat to expand restrictions to civil customers once again highlights how so-called heavy rare earths, used as essential ingredients in powerful magnets, remain a key pressure point.

In the following cases, the judges did not mince their words in highlighting the failure of the executive and police to act as duty-bound. The judge also granted RM4 million in general damages and RM250,000 in legal costs to Koh’s family. The High Court had also relied on the commission’s report in its judgments. The government subsequently filed a fresh application at the Court of Appeal, which was granted on Nov 18, 2025. Police subsequently opened an investigation under Section 505(c) of the Penal Code for making statements conducive to public mischief.

(Jan 7): US President Donald Trump is set to meet with energy executives at the White House within the next week as he seeks to enlist Western companies in rebuilding Venezuela’s oil industry. The timing remains fluid, a White House official said. But some oil companies are wary of pouring tens of billions of dollars into the country over the next decade. Wright is separately expected to meet with executives from major oil companies during the Goldman Sachs Energy, Clean Tech & Utilities Conference on Wednesday in Miami, a White House official said. In the current environment, a gathering also could be seen as an endorsement of Trump’s plans to use Western oil companies to rebuild the Venezuelan oil sector.

KUALA LUMPUR (Jan 7): theedgemalaysia.com highlighted six stocks with momentum at Bursa Malaysia’s afternoon close on Wednesday. One showed positive momentum, while another five showed negative momentum. It merely tells you which stocks are seeing higher-than-normal volume and price movements. But the “+ve” (suggesting a rising price trend on volume) and “-ve” (suggesting a falling price trend on volume) indicators should give readers a better idea of what the market is buying and when to sell. However, each stock has an accompanying fundamental score and valuation score to help readers evaluate the attractiveness of the stocks if they want to ride the momentum.

SAN FRANCISCO: Wall Street ended higher on Tuesday, as chip stocks surged on renewed AI optimism, Moderna rallied and the Dow Jones Industrial Average reached a record high. Moderna jumped almost 11% after BofA Global Research raised its price target on the drugmaker, helping lift the S&P 500 healthcare index 1.96%. Memory and storage technology stocks rallied after Nvidia CEO Jensen Huang, speaking at the Consumer Electronics ‌Show in Las Vegas, gave details about upcoming AI processors that include a new layer ⁠of storage technology. Advancing issues ‍outnumbered falling ones within the S&P 500 by a 3.1-to-one ratio. The S&P 500 posted 62 new highs and 8 new lows; the Nasdaq recorded ⁠126 new highs and 42 new lows.

One factor weighing on decisions would be financial imbalances that build up from keeping rates low for a long time, the central bank said. The Monetary Policy Committee last month voted unanimously to cut the one-day repurchase rate by 25 basis points to 1.25%, the fifth cut in 14 months. The central bank has downgraded Thailand’s growth outlook for this year to 1.5%, from 1.6%, as consumption and exports slow. Solving Thailand’s economic and financial problems requires a combination of policy tools across multiple dimensions, the central bank said. The growth outlook is also clouded by forecasts of a hung parliament after elections next month.

Spot gold slipped 1.1% to US$4,449.38 per ounce, as of 0715 GMT. It touched a record high of US$4,549.71 last Monday. The dollar held near a more than two-week high, making greenback-priced assets more expensive for other currency holders. Elsewhere, spot silver lost 2.5% to US$79.27 per ounce, down from an all-time high of US$83.62 hit on Dec 29. Spot platinum dropped 6.2% to US$2,291.24 per ounce, receding from a record high US$2,478.50 touched last Monday.

PETALING JAYA: Men’s singles shuttler Lee Zii Jia’s much anticipated return to the Malaysian Open ended early after he lost to India’s Ayush Shetty in the opening round on Tuesday (Jan 6). After a sluggish start, the world No. 144 Zii Jia put on a good fight in the second, but fell 12-21, 17-21 to Shetty at the Axiata Arena in 39 minutes. Zii Jia is making a return to the court after recovering from injuries, and is still in search of a win since he last won a match at the Orleans Masters last March.

(Jan 7): Iron ore hit the highest price since February, buoyed by the outlook for macro-economic support in China and pre-holiday restocking. Futures rose for a fourth day, topping US$108 (RM437) a ton in Singapore. Prices were also supported by restocking before next month’s Lunar New Year break, according to Liz Gao, iron ore analyst at CRU. “Supply is robust now, but there are risks of disruptions for iron ore in the next few weeks due to seasonal weather. Iron ore gained as much as 1.7% to US$108.40 a ton in Singapore, and traded at US$108.35 at 12:07pm local time, while Dalian contracts were up 2.8%.

KUALA LUMPUR (Jan 7): The Royal Malaysian Police has received 45 reports to date in connection with alleged document forgery involving seven heritage players of the Harimau Malaya national football squad. Bukit Aman Commercial Crime Investigation Department director Datuk Rusdi Mohd Isa said statements have been recorded from eight individuals to assist in the investigation. On Sept 26, FIFA, in an official statement, confirmed that FAM and the seven players were found to have breached Article 22 of the FIFA Disciplinary Code (FDC). FIFA found that FAM had submitted documents believed to have been forged to verify the eligibility of the players. The national football governing body was fined about 350,000 Swiss francs (RM1.8 million), while each player was fined about RM11,000, and the seven players were suspended from all football-related activities for 12 months.

BEIJING (Jan 7): China's top diplomat began his annual New Year tour of Africa on Wednesday, with a focus on the strategically important east, as the world's No.2 economy seeks to reinforce its influence on the continent. Foreign Minister Wang Yi will travel to Ethiopia, Somalia, Tanzania and Lesotho on this year's trip. Further south, Tanzania is central to Beijing's push to secure access to Africa's vast copper deposits. Li Qiang made a landmark trip to Zambia in November, the first visit by a Chinese premier in 28 years. By visiting the southern African kingdom of Lesotho, Wang aims to highlight Beijing's push to position itself as a champion of free trade.