AMLR has to be interpreted contextually, not textually, the Federal Court judge said. “As long as the wound-up company remains listed, the liquidator, being the controlling person of the company, has to comply with the AMLR (Ace Market Listing Requirements),” said Federal Court Judge Datuk P Nalini. Hence, she added, the directors of a wound-up company cannot do anything without the consent or authorisation of the liquidator who is in control of the wound-up company. Justice Nordin, now a Court of Appeal judge, ruled that under Rule 16 (2), the word “shall” is deemed mandatory. Read also:Court: Companies must be delisted once winding-up order served

KUALA LUMPUR: A Datuk is among 10 arrested for alleged links to a Forex investment scam involving losses of at least RM2.94mil. They also seized luxury watches and six kg worth of gold bars estimated to be worth over RM127mil. "We also seized several vehicles, documents and items which were linked to investment scam activities," he told reporters on Wednesday (Jan 5). Comm Mohd Kamarudin said they received a total of 23 police reports so far involving losses of at least RM2.94mil. Comm Mohd Kamarudin urged the public to always check with the relevant authorities, as well as Bank Negara before making any investment.

The expected settlement sum of RM333 million is to resolve all claims related to its fiduciary duties in auditing the accounts of the strategic investment fund. Two months later, MoF announced that KPMG had agreed to pay US$80 million (RM333 million) to resolve all claims related to its audit of 1MDB. In contrast, Deloitte, who replaced KPMG later, audited both 1MDB and SRC and earned an audit fee of RM9 million. Deloitte also agreed to pay up US$80 million to settle any fiduciary claims relating to its audit of 1MDB. Read also:Ex-1MDB CEO says pressured by Najib to change auditorKPMG to pay RM333 mil to Malaysian govt for 1MDB settlement — MoF1MDB and M’sian government sue KPMG partners for US$5.64 billionKPMG says settlement with Malaysian govt over 1MDB audit will enable all involved to move forward

Its aggressive store openings planned for Family Mart were also highlighted as another earnings growth catalyst. CGS-CIMB has a target price (TP) of RM5.50 for QL, while TA Securities has pegged its TP for QL at RM5.90. HLB settled 20 sen higher at RM18.96 on Jan 4, valuing the bank at RM41.1 billion. TA Securities' TP of RM3.02 is based on sum of parts valuation. TA Securities believes that TM is also poised to benefit from the government's efforts to expand the digital economy.

KUALA LUMPUR (Jan 5): Malaysia's palm oil inventories at the end of December likely shrank to their lowest in five months, squeezed by a slump in production, a Reuters survey showed on Wednesday. Stocks at the world's second-largest producer are forecast to fall 4.9% from the previous month to 1.73 million tonnes, according to the median estimate of ten planters, traders and analysts polled by Reuters. Production is pegged to plunge 8.6% to 1.49 million tonnes, the lowest since March, as severe flooding across the country disrupted harvesting activities. Exports are seen declining 4.9% to 1.4 million tonnes, in line with cargo surveyors' estimates. The Malaysian Palm Oil Board will release official data on Jan 10.

PETALING JAYA: There will be no more walk-ins at off-site Covid-19 vaccination centres (PPV) allowed as booster shots will only now be given on an appointment basis. “Walk-ins to off-site PPV are not allowed. To do so, visit the ProtectHealth website at http://www.protecthealth.com.my and select Find Vaccination Centre (PPV) https://vaksincovid.protecthealth.com.my/find. Then, find your preferred PPV registered under ProtectHealth. Besides medical and healthcare centres, a few shopping malls and multipurpose halls have been turned into off-site PPV.

CHENNAI (Jan 4): Apple Inc supplier Foxconn is unlikely to reopen its shuttered iPhone manufacturing facility in southern India until Jan 7, a senior government official familiar with the matter told Reuters. The Foxconn plant, located in the state of Tamil Nadu, was closed on Dec 18, following protests over 250 of its workers being treated for food poisoning. "Foxconn is still working with Apple to ensure compliance, which they expect to take up to two days. Two workers at the factory said neither Foxconn nor the staffing contractors had communicated the date of reopening. The government official declined to be named as talks between the government and Foxconn were private.

PETALING JAYA: The Health Ministry reported 2,842 new Covid-19 cases on Tuesday (Jan 4). Health director-general Tan Sri Dr Noor Hisham Abdullah tweeted that this brought the cumulative infections in the country to 2,769,886. The number of new cases according to state will be shared by the Health Ministry on its CovidNow portal.

Notching a fourth straight session of gains, the baht appreciated 0.3% to 33.26 per dollar, its highest since late November. The Thai currency's strong start to 2022 comes after it suffered its worst decline in two decades. The baht depreciated 11% last year as the Covid-19 pandemic hammered Thailand's key tourism sector. Elsewhere, prospects of an early US Federal Reserve (Fed) interest hike despite surging Covid-19 cases put Asian currencies on the back foot. He expects the Thai currency to hold in a range between 32.75 and 33.50 per dollar before strengthening by the end of 2022.

KUALA LUMPUR (Jan 4): Bursa Malaysia extended its downtrend to close the morning trading session on a weak note amid continuous selling of index-linked counters and a lack of market catalysts to lift risk appetite, dealers said. At 12.30pm on Tuesday (Jan 4), the benchmark FBM KLCI had erased 10.82 points to 1,538.23 from Monday's close at 1,549.05. The index, which opened 1.87 points firmer at 1,550.92, moved between 1,536.64 and 1,551.33 throughout the morning session. Conversely, Petronas Chemicals Group Bhd (PetChem) added one sen to RM8.77. Sector-wise, the Plantation Index contracted 53.84 points to 6,606.54, the Financial Services Index gave up 14.78 points for 15,599.29, and the Industrial Products and Services Index slipped 0.48 of a point to 200.91.

PETALING JAYA: Walk-ins at off-site Covid-19 vaccination centres (PPV) for booster shots will no longer be allowed, says ProtectHealth Corporation, the government-appointed implementer of private medical practitioner participation in the immunisation programme. ProtectHealth chief executive officer Datuk Dr Anas Alam Faizli said only those with appointments in MySejahtera should turn up at the PPV for their booster shot. However, those who are eligible or urgently seeking booster shots but have not received a MySejahtera appointment may also register on the waitlist at the PPV of their choice. Then, search for your preferred PPV registered under ProtectHealth. Individuals are also advised to register at only one PPV in a private health facility to avoid double booking.

Wu Yanhua, deputy director of the administration, said China would carry out lunar exploration in the future Chang'e-6, Chang'e-7 and Chang'e-8 missions. As planned, Chang'e-7 probe will be launched to the south pole of the moon first. Since Chang'e-6 is a backup of Chang'e-5 sample-return mission, it will be launched after Chang'e-7 to bring back samples on the lunar south pole. Chang'e-6 mission will be followed by Chang'e-8, a step toward building a model of a lunar scientific research station. "We also prepare to work with Russia to build the basic model of the lunar research station," Wu said in a recent interview.

PETALING JAYA: The technology sector is expected to remain resilient, supported by the ongoin trend of automation and digitalisation. This trend is anticipated to drive demand for semiconductor chips and digital products as a whole with the advent of fifth-generation (5G) and other factors. The brokerage said the trend would continue to propel the positive outlook for semiconductor players throughout 2022. Consumer demand has remained high and pushed all major product categories to double-digit growth-rates, except optoelectronics,” MIDF Research said. “The annual chip sales and units shipped are estimated to reach all-time highs in 2021, with moderate annual growth projected in 2022,” it said.

JAKARTA (Jan 3): Gojek faces a 24.9 trillion rupiah (US$1.7 billion) lawsuit for alleged copyright infringement, according to an extraordinary claim filed New Year’s Eve against Indonesia’s largest technology startup. The suit was filed to Central Jakarta Commercial Court on Dec 31 by Hasan Azhari, without publishing the details of the dispute. He also named Nadiem Makarim, Gojek’s founder and now a minister overseeing several briefs including education and technology, in the suit and seeks 10 billion rupiah in damages from him. “We have not received any official notification relating to this issue, but we believe this claim to be without merit,” said Gojek spokeswoman Nila Marita. The merged entity is seeking a valuation of US$25 billion to US$30 billion ahead of planned initial public offerings in Indonesia and the US.

KUALA LUMPUR (Jan 3): AirAsia Group Bhd has proposed to change its name to Capital A Bhd, subject to shareholders’ approval at a general meeting to be convened at a date to be announced later. In a filing to Bursa Malaysia on Monday (Jan 3), the low cost airline said the proposed name “Capital A Bhd” has been approved by the Companies Commission of Malaysia and reserved by the company on Dec 28, 2021. “A circular to shareholders with details of the proposed change of name will be issued to the shareholders in due course. The proposed change of name, if approved by the shareholders, will take effect from the date of issuance of the Notice of Registration of New Name by the CCM to the company,” it said. Shares in AirAsia ended 1.5 sen or 1.90% higher at 80 sen on Monday (Jan 3), giving it a market capitalisation of RM3.14 billion.