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Business

MyEG to invest in China-based AI company Jingle Magic

PETALING JAYA: MyEG Services Bhd is investing RM6.1mil in China-based artificial intelligence (AI) company Jingle Magic (Beijing) Technology Co Ltd.

Business

Apple briefly regains most valuable company, but Amazon could become leader at US$1.03tril

SAN FRANCISCO: Apple very briefly retook its title as the most valuable publicly listed U.S. company on Monday, beating out Microsoft and Amazon.com, while Alphabet was close behind the trio as it prepared to report its quarterly results

Business

Ex-billionaire Singh brothers found to have defrauded company

MUMBAI: India’s stock market regulator has determined the former owners of the nation’s second largest hospital chain defrauded the company of four billion rupees (US$54.3mil) and ordered that they return it.

Business

MyHSR, SG HSR call for assets company tender

PETALING JAYA: MyHSR Corp Sdn Bhd and SG HSR Pte Ltd, the owners of the Kuala Lumpur-Singapore High Speed Rail (HSR) project, have called a joint tender for an assets company for the HSR project with bidders having up to June 29 next year to submit proposals.

Business

Petronas sells stake in LNG 9 for RM2.14b to Thai oil company JV

KUALA LUMPUR: Petroliam Nasional Bhd (Petronas) has disposed of a 10% stake in Petronas LNG 9 Sdn Bhd (PL9SB) in Malaysia for US$500mil (RM2.14bil) to Thailand's national company and partner.

Business

Samsung Electronics says difficult to adopt holding company structure

SEOUL: Samsung Electronics Co Ltd said on Friday it will be difficult to adopt a holding company structure at this time, giving investors their first insight into how the South Korean tech giant is approaching a potential restructuring.

Corporate News

World's biggest apparel maker to spin off Lee and Wrangler jeans into public company

NEW YORK: One of the world's biggest apparel makers, will spin off Lee and Wrangler jeans into a separate public company, it said on Monday, allowing it to focus on its more profitable Vans sneakers and The North Face outerwear businesses.

Business

Siemens says failure to publish company history not a cover-up

FRANKFURT:, Germany industrial and engineering giant Siemens said a decision not to publish a manuscript about the company’s recent history, including some findings about a corruption scandal, did not amount to a cover-up.

Business

Wah Seong in partnership with China company

PETALING JAYA: Wah Seong Corp Bhd is teaming up with China Lesso Group Holdings Ltd to set up a joint-venture (JV) company to secure quality building materials, architectural products and home furnishing goods primarily from China.

Business

Scoot over Microsoft: Apple again the most valuable US company at $821.5bil

SAN FRANCISCO: Apple won back its crown as the most valuable publicly listed U.S. company on Wednesday, ending the session with a market capitalization above recent leaders Microsoft and Amazon.com