HSBC hires ex-Citi executive Ida Liu to lead its private bank — Bloomberg
(Dec 22): HSBC Holdings Plc has hired former Citigroup Inc executive Ida Liu to run its global private banking business, according to people familiar with the matter. Liu replaces Gabriel Castello, who was appointed interim chief executive officer of the wealth business late last year, when Annabel Spring stepped down as part of a management shake-up under group chief executive officer Georges Elhedery. Castello will assume the role of vice-chairman of HSBC’s private bank, and will oversee the bank’s most valuable clients. The move comes as HSBC’s Swiss private bank is in the process of ending relationships with more than 1,000 wealthy Middle Eastern clients, including many with assets exceeding US$100 million (RM407.9 million). Jane Fraser, the bank’s chief executive, has stood by Sieg, who has since been handed greater responsibilities.
Source:The Edge Markets
December 22, 2025 11:44 UTC
Netflix refinances part of US$59b loan for Warner Bros bid
(Dec 22): Netflix Inc has refinanced part of a US$59 billion (RM240.7 billion) bridge loan to support its potential acquisition of Warner Bros Discovery Inc. The streaming giant secured a US$5 billion revolving credit facility and two US$10 billion delayed-draw term loans to refinance part of the bridge facility it took out for its Warner Bros bid, according to a filing on Monday. Netflix agreed to a deal in early December that values Warner Bros’ studio and streaming assets at US$82.7 billion. Warner Bros last week advised its shareholders to reject the Paramount bid in favour of its original agreement with Netflix. While Netflix has the support of Warner Bros’ board, it faces regulatory and political hurdles to get the acquisition over the line.
Source:The Edge Markets
December 22, 2025 11:34 UTC
Citaglobal lands RM83 mil contracts for infrastructure projects in Johor and Labuan
KUALA LUMPUR (Dec 22): Citaglobal Bhd (KL:CITAGLB) said on Monday that its unit, Citaglobal Land Sdn Bhd (CLSB), has secured two infrastructure contracts worth a total of RM82.7 million. The project, aimed at developing modern family-oriented homes and commercial units, is scheduled for completion in July 2027, Citaglobal noted. Meanwhile, CLSB also secured a design-and-build contract worth RM20.3 million for the Labuan Jetty Upgrading Project from the Public Works Department. With the latest contract wins, Citaglobal said its outstanding order book now stands at RM1.8 billion. “These projects reflect the trust placed in Citaglobal to deliver infrastructure that matters to communities and supports economic activity.
Source:The Edge Markets
December 22, 2025 11:29 UTC
Swiss court allows Indonesian islanders climate case against Holcim
The court said it had admitted the case but noted this could still be reversed if in subsequent appeal proceedings it concluded that procedural requirements are not met. Non-profit Swiss Church Aid (HEKS/EPER), which is backing the Pari complaint, said in a statement the case marks the first time a court has admitted climate litigation brought against a large corporation in Switzerland. The company also says it has reduced direct CO2 emissions from its operations by more than 50% since 2015. The plaintiffs are seeking compensation from Holcim for climate damage they have suffered, financial participation in flood protection measures and a rapid cut in CO2 emissions. Cement production accounts for about 7% of global CO2 emissions, the Global Cement and Concrete Association says.
Source:The Edge Markets
December 22, 2025 11:24 UTC
Wheat rises as Black Sea attacks add to crop-export concerns
(Dec 22): Grain and oilseed futures edged up in the US, as attacks on both Ukrainian and Russian infrastructure added to fresh worries over crop exports from the key Black Sea region. Russia stepped up attacks at Ukraine’s Odesa ports in the Black Sea, including Pivdennyi, the country’s largest. Meanwhile, Russia said a drone attack damaged infrastructure and vessels at the Black Sea port of Taman, which handles products including grains, fertilisers and oil. Ukraine and Russia are major exporters of grain and sunflower oil, and the recent pickup in attacks on infrastructure risks slowing the pace of shipments. Palm oil futures in Kuala Lumpur also climbed, partly as the attack on the Ukrainian sunflower oil terminals sparked supply concerns, said Anilkumar Bagani, head of research at Mumbai-based Sunvin Group.
Source:The Edge Markets
December 22, 2025 11:04 UTC
Hannah committed to clean, transparent and basic services in administration of Federal Territories
PUTRAJAYA (Dec 22): Minister in the Prime Minister's Department (Federal Territories) Hannah Yeoh has reiterated her commitment to administer the Federal Territories in a clean manner in terms of environment and governance, with emphasis on basic services and the real needs of the people. She said the initial agenda of her administration was to ensure that Kuala Lumpur, Putrajaya and Labuan become clean territories not only in terms of the environment but also the integrity of governance. "Form and substance means not only a clean environment, but also clean governance. "The strategic appointment of the deputy minister from Sabah also reflects the government's commitment to ensuring that Labuan receives greater attention and support," she said. She said that armed with that experience, she would give priority and close cooperation to all Federal Territories Members of Parliament.
Source:The Edge Markets
December 22, 2025 10:41 UTC
Indonesia operations set to lift United Malacca
CIMB Research said United Malacca’s Indonesia segment delivered stronger growth, even though Malaysia remained the key earnings contributor. In the first half of the financial year 2026 (1H26), United Malacca’s Malaysian plantation operations accounted for 81% of total earnings before interest, tax, depreciation and amortisation (Ebitda). “However, United Malacca’s Indonesian plantation operations recorded faster y-o-y Ebitda growth, benefitting from a lower base. “Higher production volumes also helped reduce unit production costs, further improving profitability at United Malacca’s Indonesian operations,” said CIMB Research. Meanwhile, Kenanga Research pointed out that the Indonesia operation is still expanding, from 8,000ha out of the 11,000ha available for planting.
Source:The Star
December 22, 2025 10:33 UTC
German auto exports hit hard by Trump tariffs, study shows
BERLIN (Dec 22): German car exports to the United States slumped by almost 14% in the first three quarters of 2025, making it the hardest-hit branch of German industry in U.S. President Donald Trump's trade war, according to a study seen by Reuters on Monday. German engineering companies have also struggled under the tariff regime, with the study showing exports in that sector to the U.S. declining by 9.5% in the first nine months of 2025. The chemical industry also saw exports to the country's top export market decline by 9.5%, although the report said this could not be blamed solely on tariffs. Across all sectors, German exports to the U.S. were down 7.8% year on year over the three quarters - following average growth of nearly 5% in the comparable periods of 2016 to 2024. "Since it must currently be assumed that U.S. import tariffs will not return to pre-Trump administration levels in the foreseeable future, a significant recovery in German exports to the U.S. is unlikely," study author Samina Sultan said, referring to a "new normal" for German exporters.
Source:The Edge Markets
December 22, 2025 10:09 UTC
China's power reforms, global data centre buildout usher in battery boom
China's monthly battery exports by region, 2018-2025Going global"These leading energy storage cell makers, they have full orders. The boom "is one of the biggest surprises of the year, I think, in China's energy space." "US AI data centre power demand is very robust, but power is the biggest bottleneck, and US baseload power — gas, nuclear, thermal — they won't grow much in the next five years." China's battery storage this year overtook its capacity of conventional pumped hydro, a geographically more limited technology that uses water stored behind dams to generate electricity when needed. However, much of that battery storage capacity has sat idle because it was not profitable to operate.
Source:The Edge Markets
December 22, 2025 09:54 UTC
Floods: Situation in Pahang improves as number of evacuees drops to 580
KUANTAN: The flood situation in Pahang has improved, with the number of victims at temporary relief centres dropping sharply to 580 people from 167 families as of Monday (Dec 22) morning, compared to 2,575 victims (859 families) the previous afternoon. The state disaster management committee reported that only eight relief centres remain operational across five districts as of 8am: three in Pekan, two in Bera, and one each in Kuantan, Temerloh and Maran. Kuantan recorded the highest number of victims, with 259 people from 75 families, followed by Pekan (206 victims, 67 families), and Bera (67 victims, six families). Maran reported 35 victims from six families, while Temerloh had 13 victims from three families. Public InfoBanjir reported that Sungai Pahang has exceeded danger levels at two points: Lubuk Paku, Maran (19.39m) and Kuala Sungai Chini, Pekan (15.73m).
Source:The Star
December 22, 2025 09:12 UTC
Coffee Break: It’s not you, it’s me
This article first appeared in Capital, The Edge Malaysia Weekly on December 22, 2025 - December 28, 2025I’ve lost another lunch buddy. We’ve become so attached to our phones — checking the news, social media, messages and the latest cat meme — that charging rent for the time they are in our hands might actually be profitable. We live much of our lives online now, which brings us to another issue: social media. A CEO once pointed out that the real problem with social media is that no one is held accountable. Malaysia is planning to follow Australia in banning social media accounts such as TikTok and Instagram for users under 16 next year.
Source:The Edge Markets
December 22, 2025 08:31 UTC
FBM KLCI opens week lower amid cautious sentiment
KUALA LUMPUR: The FBM KLCI opened the week lower on Monday, as investors adopted a cautious stance following the recent rally. Rakuten Trade believes there is a strong possibility that the index may test the enigmatic 1,700 level in the near term. “For today, we expect the index to trend between the 1,650-1,665 range underpinned by the strengthening ringgit,” it said. Meanwhile, Berjaya Research Sdn Bhd said the FBM KLCI is expected to trade on a cautious yet stable footing in the near term, with gains likely to be capped by intermittent profit-taking following the recent rally. With the RSI approaching overbought territory, bouts of quick profit-taking activities could emerge, with the 1,648 points acting as immediate support, followed by 1,638 points.
Source:The Star
December 22, 2025 07:25 UTC
Asean must do what is necessary to maintain regional peace, says Tok Mat
KUALA LUMPUR (Dec 22): Asean must do whatever is necessary to maintain regional peace and stability, Foreign Minister Datuk Seri Mohamad Hasan said on Monday, stressing that efforts to address the Cambodia-Thailand situation must go beyond de-escalating tensions. “Asean must do whatever is necessary to maintain regional peace and stability. “In a highly interconnected Asean and world, a security shock is an Asean matter and a global concern. Cambodian Deputy Prime Minister and Foreign Minister Prak Sokhonn, Thai Foreign Minister Sihasak Phuangketkeow, and Asean secretary general Dr Kao Kim Hourn were among the attendees. Brunei was represented by Foreign Minister II Datuk Erywan Pehin Yusof and Vietnam by Deputy Foreign Minister Dang Hoang Giang, while Myanmar officials participated in the meeting virtually.
Source:The Edge Markets
December 22, 2025 07:14 UTC
Yeoh stresses commitment to good governance in administration of FTs
PUTRAJAYA: Minister in the Prime Minister's Department (Federal Territories) Hannah Yeoh has reiterated her commitment to administer the Federal Territories in a clean manner in terms of environment and governance, with emphasis on basic services and the real needs of the people. She said the initial agenda of her administration was to ensure that Kuala Lumpur, Putrajaya and Labuan become clean territories not only in terms of the environment but also the integrity of governance. "Form and substance mean not only a clean environment, but also clean governance. "The strategic appointment of the Deputy Minister from Sabah also reflects the government's commitment to ensuring that Labuan receives greater attention and support," she said. She said that armed with that experience, she would give priority and close cooperation to all Federal Territories lawmakers.
Source:The Star
December 22, 2025 07:01 UTC
Yeoh dismisses race-based criticism, pledges focus on service in Federal Territories role
NEWLY appointed Minister in the Prime Minister’s Department (Federal Territories) Hannah Yeoh has dismissed race-based criticism of her appointment as the first non-Malay to hold the portfolio. The Cabinet reshuffle announced by Prime Minister Datuk Seri Anwar Ibrahim on Dec 16 sparked online debate, particularly about the appointment of non-Malays to both the Minister and Deputy Minister positions for Federal Territories. Drawing on this experience, our administration will prioritise close cooperation with all Federal Territories MPs. “It is vital to preserve traditional Malay villages in Federal Territories. Yeoh also shared her vision for the Federal Territories to be “clean in form and substance.”“This is not just about cleanliness but also clean in governance.
Source:The Star
December 22, 2025 06:09 UTC