Malakoff-Solarvest JV inks 21-year power purchase agreement for Perak solar farm
KUALA LUMPUR (Dec 19): A Malakoff Corp Bhd (KL:MALAKOF)-led joint venture with Solarvest Holdings Bhd (KL:SLVEST) has on Friday signed a 21-year power purchase agreement with Tenaga Nasional Bhd (KL:TENAGA) for the sale of electricity generated from its large-scale solar photovoltaic facility in Perak. MSSSB is tasked to design, construct, own, operate and maintain a 470MWac solar photovoltaic energy generating facility located at Windsor Estate in Larut and Matang, Perak. The facility will generate, deliver and sell solar energy to Tenaga throughout the tenure of the agreement. The scheduled commercial operation date of the solar facility is expected in the first quarter of 2028. At market close on Friday, shares in Malakoff fell 0.5 sen or 0.62% to 80.5 sen, giving the group a market capitalisation of RM4 billion.
Source:The Edge Markets
December 19, 2025 11:06 UTC
Return of cheaper gas has not solved Europe’s industrial crisis
(Dec 19): Natural gas prices in Europe have fallen close to levels not seen since Russia’s invasion of Ukraine. Years of elevated costs have hollowed out parts of Europe’s industrial core, and even the lowest seasonal gas prices since 2020 aren’t enough to reopen shuttered factories. Despite the recent gas price decrease, the company said its structural challenges have either persisted or intensified since. The loss of so many industrial consumers means Europe’s underlying demand remains weak even with current benchmark gas prices of about €27 a megawatt-hour. Europe’s energy crisis did accelerate the rise of renewables, providing an alternative to gas-fired power.
Source:The Edge Markets
December 19, 2025 10:20 UTC
Sterling hits 17-year high against yen as traders overlook rate divergence
Sterling was mostly flat against the dollar at US$1.3378, while the euro was marginally lower at 87.55 pence. But now, traders are more concerned about Japan's longer-term finances than what the Japanese currency is yielding at the moment. Governor Andrew Bailey said the overall direction for rates was lower, but possibly at a slower rate. "We suspect that these wage expectations will come down in the New Year in line with lower headline inflation. In all, we continue to expect 25-basis-point rate cuts in February and April, compared to market pricing of just one cut.
Source:The Edge Markets
December 19, 2025 10:05 UTC
France is in danger if 2026 deficit not contained, says Villeroy
(Dec 19): France could face a market backlash if plans to repair the public finances fail to bring its deficit within 5% of economic output next year, the country’s central bank chief said. “Beyond a 5% deficit, France would clearly put itself in danger,” Francois Villeroy de Galhau said in an interview with Le Figaro. The government has warned that portions of finance bills so far approved would only bring the deficit to 5.3% of economic output in 2026, down from 5.4% this year. The yield premium on France’s 10-year bonds compared to German peers is about 70 basis points, after rising to over 89 in October. Villeroy said markets can suddenly shift if there is a sequence of events including a clash with the European Union over fiscal policy, more ratings downgrades or the withdrawal of hedge funds.
Source:The Edge Markets
December 19, 2025 09:25 UTC
Tawau cops nab jobless man over rape of 14-year-old
KOTA KINABALU: A jobless man has been arrested for allegedly raping his 14-year-old girlfriend in Sabah’s east coast Tawau district. Tawau police chief Asst Comm Jasmin Hussin said the arrest was made after a report lodged by the girl’s mother the previous day. Based on their probe, he said, the suspect lived in the same house in Balung as the victim, adding that the incident occurred on Nov 16. “The mother lodged the report after the daughter related the (alleged) incident to her,” he said in a statement on Friday (Nov 22). ACP Jasmin advised the public, particularly parents, not to leave their children unsupervised with unfamiliar individuals.
Source:The Star
November 23, 2024 17:10 UTC
Selangor leaders engage Nvidia for ‘Sovereign AI’ development
"This sovereign AI means that the AI belongs to the state or country only. Meanwhile, he also said that Selangor always strives to increase state revenue by introducing various new policies and formulas to ensure a sustainable income. He said his administration does not rely on land revenue and contributions from the federal government to increase state revenue, as claimed. "We also received revenue from the Zero Discharge Policy (ZDP). We have already received RM18mil this year and will get more... our first collection in Nov 2024 will reach RM1mil," he said.
Source:The Star
November 23, 2024 04:55 UTC
Anwar: Better a D than an F
KUALA LUMPUR: The “D” grading of the government by electoral reform watchdog Bersih is acceptable for now, says Datuk Seri Anwar Ibrahim. “About Bersih’s report, it is okay to get a ‘D’... (at least it’s not) an ‘F’. Today, we get a ‘D’ mark for the UPSR but next time, we can get an ‘A’ mark for the SPM,” he told Parliament yesterday. This was also included in the Bersih report. Anwar suggested that Awang take on the role of “mediator” and assured that funds would be channelled if an agreement was reached promptly.
Source:The Star
November 22, 2024 14:25 UTC
Govt to probe claims of GLC spending RM14mil to upgrade toilets, says Fahmi
SHAH ALAM: The public should be careful when using social media as a source of information following the allegation that a government-related real estate investment company spent almost RM14mil to repair toilets. Communications Minister Fahmi Fadzil said the matter was not discussed in the Cabinet meeting and he had no information about it. "Not everything we read is, firstly accurate, secondly full of context (because) sometimes it is uploaded with reasons known only to those who upload it. "The meaning is that there may be intentions of their own. So there should not be a trial by media situation but we will look into this matter," he said at a press conference after the signing of a Memorandum of Understanding (MoU) between the Employees' Provident Fund (EPF) and the National Film Development Corporation of Malaysia (Finas) at the EPF Tower in Kwasa Damansara, here.- Bernama
Source:The Star
November 19, 2024 20:19 UTC
Anwar's Brazil visit yields RM6.8bil potential export opportunities
RIO DE JANEIRO: Prime Minister Datuk Seri Anwar Ibrahim's inaugural visit to Brazil has generated potential export opportunities worth RM6.8bil (US$1.57bil) over the next three to five years. Anwar, who also serves as the Finance Minister, credited this achievement to discussions with 58 industry leaders representing 28 top companies and business associations in Brazil. "This round-table meeting generated a potential export value of RM6.8bil for the next three to five years," Anwar stated during a press conference on Monday (Nov 18). The identified export prospects include oil and gas services, semiconductors, palm oil, aerospace components, and food and beverage products. Meanwhile, Malaysian companies such as PETRONAS, Yinson, and Sapura have invested over US$15bil in Brazil’s energy and oil and gas sectors.
Source:The Star
November 19, 2024 05:10 UTC
Government holding RM12bil in unclaimed monies
KUALA LUMPUR: As of October 2024, the government is holding some RM12bil of unclaimed monies, says Finance Minister II Datuk Seri Amir Hamzah Azizan. In his winding-up speech on the Supply Bill 2025 on Wednesday (Nov 13), Amir Hamzah said that RM17bil of unclaimed money had been received as of Oct 31. “A total of RM4.2bil has been paid to the claimants, leaving a balance of RM12.8bil in unclaimed money," he added. The amendments to the Unclaimed Moneys Act 1965 allow the government to consider unclaimed money as revenue after 10 years. Unclaimed money previously held by companies and lodged with the Registrar was to be credited into the Consolidated Trust Account.
Source:The Star
November 13, 2024 20:12 UTC
Bumi Armada is said to weigh buying MISC Offshore energy assets
Bumi Armada Bhd ., an oil field services provider controlled by Malaysian tycoon T. Ananda Krishnan, is considering buying MISC Bhd .’s offshore energy business, according to people with knowledge of the matter. Shares of Bumi Armada are unchanged this year in Kuala Lumpur, giving it a valuation of RM2.9bil. A representative for Bumi Armada didn’t immediately respond to a request seeking comment, while MISC declined to comment. Bumi Armada has been expanding in Asia in areas such as upstream and low-carbon solutions to support its energy transition plans, according to its website. Ananda Krishnan owns 34.6% of Bumi Armada through Objektif Bersatu Sdn.
Source:The Star
November 13, 2024 17:14 UTC
FBM KLCI extends loss for second day running
KUALA LUMPUR: The FBM KLCI ended lower on Friday as investors sold off stocks, while regional markets showed mixed results. The benchmark FBM KLCI closed at 1,621.24, down 0.13% or 2.04 points, bringing its full-week gain to 1.08%. Dealers stated that today's decline is primarily driven by investors taking the opportunity to sell off their holdings following recent gains. Malaysian Pacific Industries slid 98 sen to RM26.50, Hong Leong Financial Group declined 30 sen to RM18.34 and Pentamaster gave up 30 sen to RM3.70. US West Texas Intermediate crude fell US$1.16 to US$71.20 and Brent lost US$1.01 to US$74.62 per barrel.
Source:The Star
November 08, 2024 11:04 UTC
MCMC to conduct first 5G readiness assessment survey for Malaysian industries
PUTRAJAYA: The Malaysian Communications and Multimedia Commission (MCMC), in collaboration with the Malaysian Investment Development Authority (Mida), will conduct the first 5G Readiness Assessment Survey for Malaysian Industries. The survey will run until Dec 1, 2024, aiming to analyse gaps in 5G adoption among companies in identified industries in Malaysia. This survey will evaluate companies’ preparedness for adopting 5G-based technologies, identify challenges to 5G adoption, and obtain input for further innovation and improvement of service quality for service providers. Enterprise participation is vital in supporting MCMC and Mida’s initiatives to advance the deployment of 5G technology, it said. Any changes to the survey duration will be announced on the MCMC website http://www.mcmc.gov.my.
Source:The Star
November 07, 2024 15:30 UTC
Bag with RM1mil now missing from Ampang shopping complex
AMPANG: A bag filled with RM1mil went missing at an Ampang shopping complex on Wednesday (Nov 6). Ampang Jaya OCPD Asst Comm Mohd Azam Ismail said a police report was lodged by a security company following the collection process at a bank at the shopping complex at about 3.55pm on Wednesday. "We are investigating under Section 379 of the Penal Code. We will inform the public if there are any developments in the investigation," he said in a statement. Meanwhile, it is understood that the money bag went missing after the security van driver realised the vehicle's door was open.
Source:The Star
November 07, 2024 03:55 UTC
Malaysia strengthens security at border checkpoints
Malaysian Home Minister Saifuddin Nasution Ismail has announced that approximately 13,000 officers and personnel from the Malaysian Border Security Agency will be deployed in phases across 143 entry points nationwide, starting in January 2025. Malaysia improves border management and strengthen national security. (Photo: nst.com.my)Kuala Lumpur (VNA) – Malaysian Home Minister Saifuddin Nasution Ismail has announced that approximately 13,000 officers and personnel from the Malaysian Border Security Agency will be deployed in phases across 143 entry points nationwide, starting in January 2025. Speaking to the press on October 20, Minister Saifuddin revealed that the first phase will involve the deployment of at least 104 officers at five entry and exit points. In August 2023, the Senate passed the Malaysia border and protection agency bill after it was approved by the House of Representatives./.
Source:New Strait Times
October 21, 2024 23:22 UTC