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said on Thursday that it is acquiring an Indonesian company for RM8.89 million to build a 4.26-megawatt biogas plant in Aceh."/><meta name="twitter:image" content="https://assets.theedgemarkets.com/KAB_LOGO-01-Petronas job_kinergyadvancement.com__1_1.jpg"/><meta property="image" content="https://assets.theedgemarkets.com/KAB_LOGO-01-Petronas job_kinergyadvancement.com__1_1.jpg"/><meta property="title" content="Kinergy Advancement acquires Indonesian firm for RM8.89 mil to build biogas plant in Aceh"/><meta property="quote" content="Kinergy Advancement acquires Indonesian firm for RM8.89 mil to build biogas plant in Aceh"/><meta name="description" content="Energy services firm Kinergy Advancement Bhd (KL:KAB) said on Thursday that it is acquiring an Indonesian company for RM8.89 million to build a 4.26-megawatt biogas plant in Aceh."/><script async="" src="https://www.googletagservices.com/tag/js/gpt.js"></script><script>var googletag = window.googletag || {}; googletag.cmd = 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href="/"><span>Home</span></a></li><li class="breadcrumb-item active" aria-current="page"></li></ol></nav></div><div class="news-detail_newsdetailsButtonsWrap__gXx8s"></div><div class="news-detail_flashCategoryItemsWrapper__6Gz8Q"></div><div class="news-detail_newsDetailsItemWrap___HS1t"><div class="news-detail_newsdetailsItemHead__zb6Ed"><span></span></div><div class="news-detail_newsdetailsItemInfo__g9Hsi"><div class="news-detail_newsBy__6_pzA"><span>By</span> <span><a href="/author/?page=1"></a></span></div></div><div class="news-detail_rowAdBox__KIgW2"><div id="div-gpt-ad-row4-ros" class="row-ad-box-top"></div></div><div class="news-detail_newsImgWrap__9DPNp"><div id="thumbnail"><img alt="main news image" srcSet="/_next/image?url=https%3A%2F%2Fassets.theedgemarkets.com%2FKAB_LOGO-01-Petronas%20job_kinergyadvancement.com__1_1.jpg&w=1080&q=75 1x, /_next/image?url=https%3A%2F%2Fassets.theedgemarkets.com%2FKAB_LOGO-01-Petronas%20job_kinergyadvancement.com__1_1.jpg&w=1920&q=75 2x" src="/_next/image?url=https%3A%2F%2Fassets.theedgemarkets.com%2FKAB_LOGO-01-Petronas%20job_kinergyadvancement.com__1_1.jpg&w=1920&q=75" width="862" height="575" decoding="async" data-nimg="1" loading="lazy" style="color:transparent"/></div></div><div class="news-detail_newsTextDataWrap__PkAu5"><div><div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 6): Energy services firm Kinergy Advancement Bhd (KL:<a href="/askedge/klse/0193" class="ce-stock" target="_blank">KAB</a>) said on Thursday that it is acquiring an Indonesian company for RM8.89 million to build a 4.26-megawatt biogas plant in Aceh.</p></div> <div class=newsTextDataWrapInner><p>KAB’s unit KAB Energy Holdings Sdn Bhd signed a term sheet with Green Energy Specialist Pte Ltd of Singapore to acquire the entire equity interest in PT Green Energy Specialist One Tbk (PT Geso), the company said in an exchange filing. The proposed acquisition includes exclusivity over a 6.5-hectare land where the plant will be built.</p></div> <div class=newsTextDataWrapInner><p>KAB, formerly known as Kejuruteraan Asastera Bhd, said PT Geso has already secured a power purchase agreement with Indonesia's state electricity company PT Perusahaan Listrik Negara Tbk, which will last for a duration of 25 years from the commercial operation date.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div> <div class=newsTextDataWrapInner><p>The initiative follows KAB's initial venture into Indonesia with a mini-hydroplant in North Sumatra as the company seeks a diversified energy portfolio generating a stream of recurring revenue.</p></div> <div class=newsTextDataWrapInner><p>The proposed acquisition of PT Geso also includes exclusive agreement with four palm oil millers for their effluent, securing a consistent supply of raw materials essential for biogas production before the formal acquisition.</p></div> <div class=newsTextDataWrapInner><p>Empty fruit bunches from oil palm trees is a byproduct waste from mills that is typically not utilised.</p></div> <div class=newsTextDataWrapInner><p>"The acquisition of the Aceh biogas plant is a strategic move that aligns perfectly with our growth plan in the realm of sustainable energy," KAB executive deputy chairman cum group managing director Datuk Lai Keng Onn said in a separate statement.  </p></div> <div class=newsTextDataWrapInner><p>Indonesia, as the world’s largest producer of palm oil, “presents a compelling choice for this development, with abundant feedstock available for biogas production," he noted.</p></div> <div class=newsTextDataWrapInner><p>Upon completion by the first quarter of 2025, Lai said the Aceh biogas plant will be another recurring revenue generator for KAB.</p></div> <div class=newsTextDataWrapInner><p>In the first quarter ended March 31, 2024 (1QFY2024), KAB's net profit doubled to RM4.97 million from RM2.43 million a year earlier, thanks to new projects and entities acquired. Revenue, however, declined 1.7% year-on-year to RM42.04 million from RM42.76 million due to the completion of some engineering projects.</p></div> <div class=newsTextDataWrapInner><p>Kinergy previously said that it will focus on expanding its energy solutions and customer base in the energy sector, replenishing its order book and venturing into neighbouring Asean countries. Order book balance totalled RM942 million at end-March, up from RM939 million at the end of December 2023.</p></div> <div class=newsTextDataWrapInner><p>At 4.24pm, shares of KAB were down half a sen or 1.35% at 36.5 sen, valuing the group at RM725.05 million. Year-to-date, the counter has lost 8.75%.<br />  </p></div> </div><div class="news-detail_editedByWrapper__jHZRc"><span>Edited By</span><span>Jason Ng</span></div></div><div class="news-detail_rowAd5Box__IbgWe"><div class="branded-ad-row row-ad-5" id="div-gpt-ad-row5-ros"></div></div></div></div></div></div><div class="news-detail_pageWrapperAd__H2pQl"><div class="news-detail_halfpageAd__hs6Tm"><div class="MidRecAd_halfPageAdWrap__sV4TZ"><div style="display:none"><div id="div-gpt-ad-mrec1-ros-my"></div></div><div style="display:none"><div id="div-gpt-ad-mrec2-ros-my"></div></div></div></div><div class="news-detail_midRecAdThreeAndFour__aZzW3"><div class="MidRecAd_halfPageAdWrap__sV4TZ"><div style="display:none"><div id="div-gpt-ad-mrec3-ros-my"></div></div><div style="display:none"><div id="div-gpt-ad-mrec4-ros-my"></div></div></div></div><div><div class="NewsTab_tabContainerWrapper__Sp3d4"><div class="NewsTab_tabContainer__op0xZ"><ul class="selected-tab nav nav-tabs nav-justified" 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The proposed acquisition includes exclusivity over a 6.5-hectare land where the plant will be built.\u003c/p\u003e\u003c/div\u003e\r\n\r\n\u003cdiv class=newsTextDataWrapInner\u003e\u003cp\u003eKAB, formerly known as Kejuruteraan Asastera Bhd, said PT Geso has already secured a power purchase agreement with Indonesia's state electricity company PT Perusahaan Listrik Negara Tbk, which will last for a duration of 25 years from the commercial operation date.\u003c/p\u003e\u003c/div\u003e\u003cdiv class=inPageAd id=div-gpt-ad-inpage\u003e\u003c/div\u003e\r\n\r\n\u003cdiv class=newsTextDataWrapInner\u003e\u003cp\u003eThe initiative follows KAB's initial venture into Indonesia with a mini-hydroplant in North Sumatra as the company seeks a diversified energy portfolio generating a stream of recurring revenue.\u003c/p\u003e\u003c/div\u003e\r\n\r\n\u003cdiv class=newsTextDataWrapInner\u003e\u003cp\u003eThe proposed acquisition of PT Geso also includes exclusive agreement with four palm oil millers for their effluent, securing a consistent supply of raw materials essential for biogas production before the formal acquisition.\u003c/p\u003e\u003c/div\u003e\r\n\r\n\u003cdiv class=newsTextDataWrapInner\u003e\u003cp\u003eEmpty fruit bunches from oil palm trees is a byproduct waste from mills that is typically not utilised.\u003c/p\u003e\u003c/div\u003e\r\n\r\n\u003cdiv class=newsTextDataWrapInner\u003e\u003cp\u003e\"The acquisition of the Aceh biogas plant is a strategic move that aligns perfectly with our growth plan in the realm of sustainable energy,\" KAB executive deputy chairman cum group managing director Datuk Lai Keng Onn said in a separate statement. \u0026nbsp;\u003c/p\u003e\u003c/div\u003e\r\n\r\n\u003cdiv class=newsTextDataWrapInner\u003e\u003cp\u003eIndonesia, as the world’s largest producer of palm oil, “presents a compelling choice for this development, with abundant feedstock available for biogas production,\" he noted.\u003c/p\u003e\u003c/div\u003e\r\n\r\n\u003cdiv class=newsTextDataWrapInner\u003e\u003cp\u003eUpon completion by the first quarter of 2025, Lai said the Aceh biogas plant will be another recurring revenue generator for KAB.\u003c/p\u003e\u003c/div\u003e\r\n\r\n\u003cdiv class=newsTextDataWrapInner\u003e\u003cp\u003eIn the first quarter ended March 31, 2024 (1QFY2024), KAB's net profit doubled to RM4.97 million from RM2.43 million a year earlier, thanks to new projects and entities acquired. Revenue, however, declined 1.7% year-on-year to RM42.04 million from RM42.76 million due to the completion of some engineering projects.\u003c/p\u003e\u003c/div\u003e\r\n\r\n\u003cdiv class=newsTextDataWrapInner\u003e\u003cp\u003eKinergy previously said that it will focus on expanding its energy solutions and customer base in the energy sector, replenishing its order book and venturing into neighbouring Asean countries. Order book balance totalled RM942 million at end-March, up from RM939 million at the end of December 2023.\u003c/p\u003e\u003c/div\u003e\r\n\r\n\u003cdiv class=newsTextDataWrapInner\u003e\u003cp\u003eAt 4.24pm, shares of KAB were down half a sen or 1.35% at 36.5 sen, valuing the group at RM725.05 million. Year-to-date, the counter has lost 8.75%.\u003cbr /\u003e\r\n\u0026nbsp;\u003c/p\u003e\u003c/div\u003e\r\n"},"justInMostReadData":{"justIn":[{"nid":735089,"type":"article","language":"english","category":"Malaysia","options":"Politics \u0026 Government","flash":"","tags":"","edited":"","title":"Fahmi: Govt saved nearly RM1 mil in Anwar's official flight costs","created":1732273143000,"updated":1732330976000,"author":"Bernama","source":"Bernama","audio":"","audioflag":0,"alias":"node/735089","video_url":"","img":"https://assets.theedgemarkets.com/fahmi-38264_20241122185350_bernama.jpg","caption":"","summary":"The government successfully saved almost RM1 million in flight costs for the recent official visit by Prime Minister Datuk Seri Anwar Ibrahim and his delegation, said Communications Minister Fahmi Fadzil."},{"nid":735137,"type":"article","language":"english","category":"World,Economy","options":"Politics \u0026 Government","flash":"Economic Focus","tags":"","edited":"","title":"Japan’s Cabinet approves stimulus in show of progress for Ishiba","created":1732328316000,"updated":1732328316000,"author":"Erica Yokoyama, Yuki Hagiwara \u0026 Alastair Gale","source":"Bloomberg","audio":"","audioflag":0,"alias":"node/735137","video_url":"","img":"https://assets.theedgemarkets.com/Ishiba_20241002210533_bloomberg_1.jpg","caption":"","summary":"Japanese Prime Minister Shigeru Ishiba’s Cabinet approved a stimulus package that’s slightly bigger than last year’s, as he followed up on a pledge to ramp up support for households and businesses struggling to cope with higher costs."},{"nid":735136,"type":"article","language":"english","category":"Corporate,Technology,World","options":"","flash":"Tech","tags":"","edited":"","title":"Amazon invests additional US$4b in AI firm Anthropic","created":1732327290000,"updated":1732327290000,"author":"Matt Day","source":"Bloomberg","audio":"","audioflag":0,"alias":"node/735136","video_url":"","img":"https://assets.theedgemarkets.com/420739857_20241123095651_bloomberg.jpg","caption":"","summary":"Amazon.com Inc is investing an additional US$4 billion (RM17.87 billion) in artificial intelligence (AI) startup Anthropic, boosting its stake in one of OpenAI’s chief rivals."},{"nid":735128,"type":"article","language":"english","category":"Corporate,Economy","options":"Top Stories,From The Edge","flash":"Edge Weekly","tags":"","edited":"","title":"The Week Ahead: Spotlight on corporate earnings of banks, Tenaga and Opec+ meeting","created":1732327200000,"updated":1732327200000,"author":"Intan Farhana Zainul","source":"The Edge Malaysia","audio":"","audioflag":0,"alias":"node/735128","video_url":"","img":"https://assets.theedgemarkets.com/FS_WA_TEM1551_The-Week-Ahead_theedgemalaysia.jpg","caption":"","summary":"The corporate earnings reporting season for the July-September quarter comes to a close this week. Among the companies slated to announce their financial results are banking groups Malayan Banking Bhd (KL:MAYBANK), Public Bank Bhd (KL:PBBANK), RHB Bank Bhd (KL:RHBBANK) and Hong Leong Bank Bhd (KL:HLBANK) as well as utility giant Tenaga Nasional Bhd (KL:TENAGA)."},{"nid":735135,"type":"article","language":"english","category":"World,Economy","options":"Top Stories,Politics \u0026 Government","flash":"US Economy","tags":"","edited":"","title":"Trump taps tax reform, deregulation advocate Scott Bessent for Treasury","created":1732325883000,"updated":1732325883000,"author":"Steve Holland \u0026 Alexandra Ulmer","source":"Reuters","audio":"","audioflag":0,"alias":"node/735135","video_url":"","img":"https://assets.theedgemarkets.com/BEssent_20241123093232_reuters.jpg","caption":"","summary":"President-elect Donald Trump on Friday said he will nominate prominent investor Scott Bessent as the US Treasury secretary, a key Cabinet position with vast influence over economic, regulatory and international affairs."},{"nid":735134,"type":"article","language":"english","category":"Corporate,World","options":"","flash":"","tags":"","edited":"","title":"Citi granted licence for regional headquarters in Saudi Arabia, memo shows","created":1732325261000,"updated":1732325261000,"author":"Arasu Kannagi Basil \u0026 Tatiana Bautzer","source":"Reuters","audio":"","audioflag":0,"alias":"node/735134","video_url":"","img":"https://assets.theedgemarkets.com/Riyadh saudi_20240812115230_bloomberg_4.jpg","caption":"","summary":"US bank Citigroup has received approval to establish its regional headquarters in Saudi Arabia's Riyadh, according to an internal memo seen by Reuters on Friday."},{"nid":735133,"type":"article","language":"english","category":"Corporate,World,Economy","options":"Top Stories","flash":"Global Markets","tags":"","edited":"","title":"Stocks notch strong weekly gain, US yields slip as markets eye Trump policies","created":1732324685000,"updated":1732324685000,"author":"Chibuike Oguh","source":"Reuters","audio":"","audioflag":0,"alias":"node/735133","video_url":"","img":"https://assets.theedgemarkets.com/Global-Markets_20240905112654_theedgemalaysia_20.jpg","caption":"","summary":"Global stocks registered a strong weekly gain on Friday, while US Treasury yields slipped as markets eyed President-elect Donald Trump's likely policies and their impact on the US economy, even as bitcoin traded near the US$100,000 (RM446,800) threshold."},{"nid":735132,"type":"article","language":"english","category":"Corporate,Malaysia,Economy","options":"Top Stories,Politics \u0026 Government","flash":"Edge Weekly","tags":"","edited":"","title":"The pension conundrum: KWAP pushes for thoughtful reform amid growing charges","created":1732323279000,"updated":1732323279000,"author":"theedgemalaysia.com","source":"theedgemalaysia.com","audio":"","audioflag":0,"alias":"node/735132","video_url":"","img":"https://assets.theedgemarkets.com/TEM_Weekly_Highlights_1551.jpg","caption":"","summary":"When Kumpulan Wang Persaraan (Diperbadankan) (KWAP) was established in 2007, with an initial fund of RM41.9 billion, the federal government’s pension and gratuity obligations stood at a mere RM8.25 billion, just 6.7% of its total operating expenditure (opex)."},{"nid":735131,"type":"article","language":"english","category":"World,Economy","options":"","flash":"","tags":"","edited":"","title":"UK retail sales fell more than expected amid budget anxiety","created":1732305276000,"updated":1732305276000,"author":"Irina Anghel","source":"Bloomberg","audio":"","audioflag":0,"alias":"node/735131","video_url":"","img":"https://assets.theedgemarkets.com/uk_ghost_town_24062024_reuters_3.png","caption":"","summary":"UK retail sales declined more than expected in October, as uncertainty over Chancellor of the Exchequer Rachel Reeves first budget prompted consumers to hold back spending."},{"nid":735130,"type":"article","language":"english","category":"Corporate,World,Economy","options":"","flash":"US Economy","tags":"","edited":"","title":"New York Fed paper challenges notion of discount window stigma","created":1732303041000,"updated":1732303041000,"author":"Michael S Derby","source":"Reuters","audio":"","audioflag":0,"alias":"node/735130","video_url":"","img":"https://assets.theedgemarkets.com/ny_27082024_reuters_16.png","caption":"Among the institutions where stigma issues are greatest, for banks with assets of less than $50 billion, higher private market borrowing rates cost these firms collectively US$500 million in excess interest costs relative to where they could have borrowed from the Fed in the decade ending in 2024.","summary":"The banks most reluctant to tap the US central bank's discount window to shore up their capital are in fact those who face the highest failure risk, according to new research from the New York Federal Reserve (Fed) that turns the notion of bank emergency borrowing stigma on its head."}],"mostRead":[{"nid":735121,"alias":"node/735121","title":"Vizione quits RM116 mil hotel construction job over alleged unpaid works","created":1732288919,"updated":1732288919,"flash":"","img":"https://assets.theedgemarkets.com/vizione-1_vizione.com_.my__2_0_1_0_0.jpg","summary":"\u003cp\u003eVizione Holdings Bhd (KL:VIZIONE) said its unit has served a notice to Inspirasi Langkawi Sdn Bhd to terminate its employment as main contractor for the development of a 14-storey hotel in Langkawi, claiming it had not been properly paid for its works so far.\u003c/p\u003e\r\n","daycount":2605},{"nid":735123,"alias":"node/735123","title":"Allianz Malaysia, Bumi Armada, Bintulu Port, D\u0026O, Sarawak Plantation, Favelle Favco, CSC Steel, BM Greentech, SkyWorld, Lagenda Properties, Solarvest, SMI, Icon Offshore, Top Glove, MNRB, Chin Hin Group Property","created":1732290797,"updated":1732290797,"flash":"Companies in the news","img":"https://assets.theedgemarkets.com/Companies-in-the-news_20241122234055_theedgemalaysia.jpg","summary":"\u003cp\u003eHere is a brief recap of some corporate announcements that made the news on Friday.\u003c/p\u003e\r\n","daycount":1450},{"nid":735129,"alias":"node/735129","title":"America's US$7 tril cash stash isn't going anywhere","created":1732302041,"updated":1732302041,"flash":"US Economy","img":"https://assets.theedgemarkets.com/usd_29072024_reuters_16.png","summary":"\u003cp\u003eA record-high US$7 trillion (RM31.28 trillion) of cash is currently sitting \"on the sidelines\" in money market funds (MMFs). Anyone hoping to see a significant chunk of this flooding the wider investment field in the coming months may be disappointed.\u003c/p\u003e\r\n","daycount":726},{"nid":735132,"alias":"node/735132","title":"The pension conundrum: KWAP pushes for thoughtful reform amid growing charges","created":1732323279,"updated":1732323279,"flash":"Edge Weekly","img":"https://assets.theedgemarkets.com/TEM_Weekly_Highlights_1551.jpg","summary":"\u003cp\u003eWhen Kumpulan Wang Persaraan (Diperbadankan) (KWAP) was established in 2007, with an initial fund of RM41.9 billion, the federal government’s pension and gratuity obligations stood at a mere RM8.25 billion, just 6.7% of its total operating expenditure (opex).\u003c/p\u003e\r\n","daycount":336},{"nid":735128,"alias":"node/735128","title":"The Week Ahead: Spotlight on corporate earnings of banks, Tenaga and Opec+ meeting","created":1732327200,"updated":1732327200,"flash":"Edge Weekly","img":"https://assets.theedgemarkets.com/FS_WA_TEM1551_The-Week-Ahead_theedgemalaysia.jpg","summary":"\u003cp\u003eThe corporate earnings reporting season for the July-September quarter comes to a close this week. Among the companies slated to announce their financial results are banking groups \u003cb\u003eMalayan Banking Bhd\u003c/b\u003e (KL:MAYBANK), \u003cb\u003ePublic Bank Bhd\u003c/b\u003e (KL:PBBANK), \u003cb\u003eRHB Bank Bhd\u003c/b\u003e (KL:RHBBANK) and \u003cb\u003eHong Leong Bank Bhd\u003c/b\u003e (KL:HLBANK) as well as utility giant \u003cb\u003eTenaga Nasional Bhd\u003c/b\u003e (KL:TENAGA).\u003c/p\u003e\r\n","daycount":112},{"nid":735126,"alias":"node/735126","title":"Thales denies wrongdoing as Anglo-French bribery probe hits shares","created":1732294744,"updated":1732294744,"flash":"","img":"https://assets.theedgemarkets.com/French defence and electronics group Thales_20241123005153_reuters.jpg","summary":"\u003cp\u003eFrench defence and technology firm Thales said on Friday it was denying unspecified allegations after Britain's Serious Fraud Office (SFO) announced a joint investigation with French authorities into suspected bribery and corruption.\u003c/p\u003e\r\n","daycount":104},{"nid":735127,"alias":"node/735127","title":"Cboe to launch cash-settled Bitcoin ETF options as crypto booms","created":1732295262,"updated":1732295262,"flash":"Cryptocurrency","img":"https://assets.theedgemarkets.com/Cboe to launch cash-settled Bitcoin ETF options_20241123010532_bloomberg.jpg","summary":"\u003cp\u003eCboe Global Markets Inc. said it is set to list the first cash-settled index options related to the spot price of Bitcoin, marking the latest addition of cryptocurrency-related securities to traditional exchanges.\u003c/p\u003e\r\n","daycount":102},{"nid":735135,"alias":"node/735135","title":"Trump taps tax reform, deregulation advocate Scott Bessent for Treasury","created":1732325883,"updated":1732325883,"flash":"US Economy","img":"https://assets.theedgemarkets.com/BEssent_20241123093232_reuters.jpg","summary":"\u003cp\u003ePresident-elect Donald Trump on Friday said he will nominate prominent investor\u0026nbsp;Scott Bessent\u0026nbsp;as the US\u0026nbsp;Treasury secretary, a key Cabinet position with vast influence over economic, regulatory and international affairs.\u003c/p\u003e\r\n","daycount":97},{"nid":735130,"alias":"node/735130","title":"New York Fed paper challenges notion of discount window stigma","created":1732303041,"updated":1732303041,"flash":"US Economy","img":"https://assets.theedgemarkets.com/ny_27082024_reuters_16.png","summary":"\u003cp\u003eThe banks most reluctant to tap the US\u0026nbsp;central bank's discount window to shore up their capital are in fact those who face the highest failure risk, according to new research from the New York Federal Reserve (Fed) that turns the notion of bank emergency borrowing stigma on its head.\u003c/p\u003e\r\n","daycount":95},{"nid":735122,"alias":"node/735122","title":"S\u0026P 500, Dow touch over one-week highs after business activity data","created":1732289858,"updated":1732289858,"flash":"US Stocks","img":"https://assets.theedgemarkets.com/Traders at the New York Stock Exchange_20241122232858_reuters.jpg","summary":"\u003cp\u003eThe S\u0026amp;P 500 and the Dow touched over one-week highs on Friday after data showed a still robust economy, while small-cap stocks outperfomed large-cap indexes.\u003c/p\u003e\r\n\r\n\u003cp\u003eThe S\u0026amp;P flash PMI showed manufacturing activity stood at 48.8 in November, in line with estimates from a \u003cem\u003eReuters \u003c/em\u003epoll of economists.\u003c/p\u003e\r\n","daycount":87},{"nid":735131,"alias":"node/735131","title":"UK retail sales fell more than expected amid budget anxiety","created":1732305276,"updated":1732305276,"flash":"","img":"https://assets.theedgemarkets.com/uk_ghost_town_24062024_reuters_3.png","summary":"\u003cp\u003eUK retail sales declined more than expected in October, as uncertainty over Chancellor of the Exchequer Rachel Reeves first budget prompted consumers to hold back spending.\u003c/p\u003e\r\n","daycount":82},{"nid":735136,"alias":"node/735136","title":"Amazon invests additional US$4b in AI firm Anthropic","created":1732327290,"updated":1732327290,"flash":"Tech","img":"https://assets.theedgemarkets.com/420739857_20241123095651_bloomberg.jpg","summary":"\u003cp\u003eAmazon.com Inc\u0026nbsp;is investing an additional US$4 billion (RM17.87 billion) in artificial intelligence (AI) startup Anthropic, boosting its stake in one of OpenAI’s chief rivals.\u003c/p\u003e\r\n","daycount":76},{"nid":735133,"alias":"node/735133","title":"Stocks notch strong weekly gain, US yields slip as markets eye Trump policies","created":1732324685,"updated":1732324685,"flash":"Global Markets","img":"https://assets.theedgemarkets.com/Global-Markets_20240905112654_theedgemalaysia_20.jpg","summary":"\u003cp\u003eGlobal\u0026nbsp;stocks registered\u0026nbsp;a strong weekly gain on Friday, while US\u0026nbsp;Treasury yields\u0026nbsp;slipped as\u0026nbsp;markets\u0026nbsp;eyed President-elect\u0026nbsp;Donald Trump's likely policies\u0026nbsp;and their\u0026nbsp;impact on the US\u0026nbsp;economy, even as bitcoin traded near the US$100,000 (RM446,800) threshold.\u003c/p\u003e\r\n","daycount":76},{"nid":735124,"alias":"node/735124","title":"Baltic Exchange shipping updates: Nov 22, 2024","created":1732293496,"updated":1732293496,"flash":"","img":"https://assets.theedgemarkets.com/Ship for Baltic_20241123001828_bloomberg.jpg","summary":"\u003cp\u003e\u003cstrong\u003eA weekly round-up of tanker and dry bulk market (Nov 22, 2024)\u003c/strong\u003e\u003c/p\u003e\r\n","daycount":74},{"nid":735125,"alias":"node/735125","title":"Malaysia to strengthen Asean community, tackle regional challenges as Asean chair 2025 — Mohamad","created":1732294027,"updated":1732294027,"flash":"","img":"https://assets.theedgemarkets.com/mohamad hasan ZHD-24-peace-keeping_20241123004322_theedgemalaysia.jpg","summary":"\u003cp\u003eAs the Association of South East Asian Nations (Asean) chair for 2025, Malaysia has a key role in strengthening the Asean community and tackling complex regional challenges, Foreign Minister Datuk Seri Mohamad Hasan said.\u003c/p\u003e\r\n","daycount":71},{"nid":735134,"alias":"node/735134","title":"Citi granted licence for regional headquarters in Saudi Arabia, memo shows","created":1732325261,"updated":1732325261,"flash":"","img":"https://assets.theedgemarkets.com/Riyadh saudi_20240812115230_bloomberg_4.jpg","summary":"\u003cp\u003eUS\u0026nbsp;bank Citigroup has received approval to establish\u0026nbsp;its regional headquarters in Saudi Arabia's Riyadh, according to an internal memo seen by\u003cem\u003e Reuters \u003c/em\u003eon Friday.\u003c/p\u003e\r\n","daycount":64},{"nid":735120,"alias":"node/735120","title":"US business activity gauge rises to 31-month high in November","created":1732288620,"updated":1732288620,"flash":"US 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