(April 24): 1Malaysia Development Bhd (1MDB) chief Arul Kanda is not contesting the general election But in the past six weeks, he has appeared before nearly…
KUALA LUMPUR (April 19): The Asian Infrastructure Investment Bank (AIIB) has expressed its interest in financing the Kuala Lumpur-Singapore High Speed Rail (HSR), among other infrastructure projects in Malaysia, according to the Embassy of China. Second secretary of Embassy of China, Fang Tao, said the president of AIIB, Jin Liqun, had met with Prime Minister Datuk Seri Najib Razak earlier to discuss about the project. Both sides have expressed interests in the cooperation or the involvement of AIIB in this project, he said. Fang was speaking at a press conferenceRead More
KUALA LUMPUR, April 19 — Brokers and traders responded guardedly to Bursa Malaysia’s reintroduction of Intraday Short Selling (IDSS) two days ago, with one saying the timing left most unprepared. In February, Datuk Seri Najib Razak announced…
KUALA LUMPUR (Mar 26): Based on corporate announcements and news flow today, stocks in focus for Tuesday (Apr 17) may include the following IHH Healthcare…
PETALING JAYA: Tan Sri Rafidah Aziz has resigned as Supermax Corp Bhd chairman after managing director Datuk Seri Stanley Thai, who is currently appealing against his five-year sentence for insider trading, issued an apology to the Prime Minister for his involvement in politics last Saturday.
Rafidah, 74, who was appointed non-independent, non-executive chairman of Supermax in June 2015, cited “personal reasons” for her departure.
In a statement to Bursa Malaysia Securities today, Supermax said the resignation of Rafidah does not affect the day-to-day business operations or the performance of the group.
Thai said at a press conference last Saturday that he was influenced by propaganda and the Opposition during the 13th general election (GE13) and regretted getting involved in politics as a businessman, stressing that he was no longer involved in any political activities.
Recall that in 2013, Thai was quoted in a Bloomberg report saying that he would join Malaysian Chinese in abandoning support for Prime Minister Datuk Seri Najib Razak and vote for the Opposition in GE13.
Late last year, Thai was sentenced by the Kuala Lumpur Sessions Court to a five-year jail term and fined RM5 million for insider trading offences committed when he was CEO of now-delisted APL Industries Bhd.
Thai was convicted for communicating non-public information between Oct 26, 2007 and Oct 29, 2007 to former remisier Tiong Kiong Choon. Tiong was convicted of two counts of disposing of a total of 6.2 million APLI shares while in possession of the same non-public information via accounts belonging to his mother-in-law and his mother.
It was the first insider trading conviction where both the tipper (the person who communicated the inside information), Thai, and the tippee, Tiong, were charged and convicted for the offence.
On Bursa Malaysia today, Supermax soared 8 sen or 3.1% to RM2.68 on volume of 5.44 million shares.
KUALA LUMPUR, April 16 — Bursa Malaysia Bhd has introduced intraday short-selling (IDSS) for all investors as part of the exchange’s strategy to boost market liquidity. Chief Executive Officer Datuk Seri Tajuddin Atan said the introduction…
KUALA LUMPUR (April 16): Supermax Corporation Bhd surged as much as 6.92% or 18 sen and was among top gainer counters in the morning trade today, after its former managing director Datuk Seri Stanley Thai apologised to Prime Minister Datuk Seri Najib Razak for his involvement in the Malaysian politics. Supermax opened higher at 2.66 sen, which was 6 sen higher than its previous close. At 10.59am, the counter rose 13 sen or 5% to RM 2.73, with 3.04 million shares traded. To recap, Stanley had on April 14, expressedRead More
KUALA LUMPUR (April 11): The construction of the high-impact East Coast Rail Link (ECRL) in Kelantan is progressing slightly ahead of schedule, according to Malaysia Rail Link Sdn Bhd (MRL) which is optimistic of the economic spin-offs that the connection will bring to the region. In a statement today, Malaysia Rail Link Sdn Bhd (MRL) Chief Executive Officer Datuk Sri Darwis Abdul Razak said out of 2,951 respondents in Kelantan, 79% of them had endorsed the Kota Bharu-Wakaf Bharu-Pengkalan Kubor alignment during the recent 3-month Public Inspection for Phase 2Read More
SINGAPORE, April 10 — Malaysia Airlines has launched a fresh tender process for 20-30 widebody jets that could supersede a deal with Boeing Co agreed during a high-profile US visit by the country’s prime minister last year, a source with…