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☆ Malaysia's new king has a $5.7B family fortune. Here's how he spends his money.
▼ + stars: | 2024-02-02 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +6 min

Sultan Ibrahim Iskandar, 65, was declared king on Wednesday as part of the country's rotating monarchy. King Sultan Ibrahim Iskandar of Johor is photographed with his sister, Queen Tunku Azizah Aminah Maimunah Iskandariah, after his accession was announced in October 2023. MOHD RASFAN/AP ImagesSultan Ibrahim is head of the Johor royal family and is considered one of the country's wealthiest men. In May 2023, a video posted to the Johor royal family's TikTok account showed them dining at Istanbul Turkish Cuisine, a reservations-only restaurant in Horizon Hills, Johor. King of Malaysia Sultan Ibrahim Iskandar (right) speaks with Malaysia's Prime Minister Anwar Ibrahim (left) after the oath-taking ceremony.

Persons: Sultan Ibrahim Iskandar, King Sultan Ibrahim Iskandar, Tunku Azizah Aminah, Iskandariah, MOHD RASFAN, Sultan Ibrahim, Sultan Ibrahim isn't, Ferrari Testarossa, HASNOOR HUSSAIN, Adolf Hitler, Hitler, Harley, Davidson, Tunku Ismail, Crown, Prince, of, of Malaysia Sultan Ibrahim Iskandar, Anwar Ibrahim, Abdullah Ahmad Shah, Mahathir Mohamad Organizations: Bloomberg, Facebook, Getty, Mercedes, YouTube, Boeing, Guardian, U Mobile, Maharani Energy, Johor Darul, The Straits Times, Malaysian, Malaysia's Locations: Malaysia, Malaysia's, Johor, Malaysian, Kuala Lumpur, India, Istanbul Turkish, Horizon Hills, Johor Darul Ta'zim, Singapore, Forest, Manhattan, of Malaysia Sultan

☆ World Court dismisses much of Ukraine’s case against Russia
▼ + stars: | 2024-01-31 | by ( Story Reuters | ) edition.cnn.com time to read: +3 min

The court rejected Ukraine’s requests to order reparations for both violations and only ordered Russia to comply with the treaties. Ukraine’s representative Anton Korynevych stressed the judgment was important for Kyiv because it did establish Russia violated international law. Ukraine had filed the lawsuit at the ICJ, also known as the World Court, in 2017, accusing Russia of violating an anti-terrorism treaty by funding pro-Russian separatists in Ukraine. In a hearing at the court in The Hague last June, Russia dismissed Ukraine’s allegations that it funded and controlled pro-Russian separatists in eastern Ukraine as fiction and “blatant lies”. The court dismissed all of the claims related to the Tatars but found Moscow did not do enough to support Ukrainian language education.

Persons: Anton Korynevych, ”, Ukraine’s Organizations: Reuters, UN, Malaysia Airlines, International Court of Justice, ICJ Locations: Russia, UN, Kyiv, Moscow, Ukraine, Crimea, The Hague, Russian, Tatars

☆ Malaysia's new king is a billionaire with a collection of 300 luxury cars, his own private army, and family ties to Hitler
▼ + stars: | 2024-01-31 | by ( Mikhaila Friel | ) www.businessinsider.com time to read: +5 min

Malaysia has a new billionaire king who has his own army, a fleet of private jets, and 300 luxury cars, including one apparently gifted by Adolf Hitler. King of Malaysia Sultan Ibrahim Iskandar (right) speaks with Malaysia's Prime Minister Anwar Ibrahim (left) after the oath-taking ceremony. AdvertisementAccording to Bloomberg, the Johor family is worth an estimated $5.7 billion. In a resurfaced 2013 interview posted to YouTube in 2017, Sultan Ibrahim said Hitler was a friend of his great-grandfather. AdvertisementSultan Ibrahim's wife, Raja Zarith Sofiah, is from another royal family, an Oxford graduate, and a children's books author, according to the Associated Press.

Persons: Adolf Hitler, Sultan Ibrahim Iskandar, Malaysia Sultan Ibrahim Iskandar, Anwar Ibrahim, MOHD RASFAN, Sultan Ibrahim —, Yang di, Pertuan, Sultan Ibrahim, Hitler, Harley, Sultan Ibrahim's, HASNOOR HUSSAIN, couldn't, Mahathir Mohamad, Mohamad, Raja Zarith Sofiah Organizations: Malaysia's, Singapore Straits Times, Business, Bloomberg, Ferrari, Getty, Reuters, U Mobile, ABC News, YouTube, Davidson, Guardian, Sydney Morning Herald, Associated Press Locations: Malaysia, Malaysia Sultan, Johor, Singapore, Great Britain, England, Kuala Lumpur, Malaysian, Oxford

☆ Malaysia Installs Sultan Ibrahim of Johor State as New King
▼ + stars: | 2024-01-30 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

KUALA LUMPUR (Reuters) - Malaysia's Sultan Ibrahim from the southern state of Johor was sworn in as the country's new king on Wednesday, taking the oath of office in a ceremony at the national palace in Kuala Lumpur. The monarchy plays a mostly ceremonial role in Malaysia, but its influence has grown in recent years, prompting the king to wield rarely-used discretionary powers to quell political instability. Sultan Ibrahim, 65, succeeds Al-Sultan Abdullah Sultan Ahmad Shah, who is returning to lead his home state of Pahang after completing his five-year tenure as king. While the monarchy is largely seen as above politics, Sultan Ibrahim has been noted for his forthrightness and outsized personality, often weighing in on the country's political issues. Known for his large collection of luxury cars and motorbikes, Sultan Ibrahim has wide-ranging business interests from real estate to mining, including a stake in Forest City - a $100-billion China-backed land reclamation and development project off Johor.

Persons: Sultan Ibrahim, Yang, Al, Sultan Abdullah Sultan Ahmad Shah, Rozanna Latiff, Danial Azhar, Martin Petty Organizations: Reuters Locations: KUALA LUMPUR, Johor, Kuala Lumpur, Malaysia, Pahang, Forest City, China

☆ Domino's pizza is the latest American product facing backlash in Asia amid the Middle East turmoil, exec says
▼ + stars: | 2024-01-26 | by ( Alex Bitter | ) www.businessinsider.com time to read: +4 min

Read previewDomino's Pizza is the latest American brand to face blowback as some consumers change their buying habits in light of Israel's invasion of Gaza. Domino's Pizza Enterprises, a franchisee of the US company that operates Domino's restaurants in Australia, Europe, and Asia, said same-store sales in Asia fell an estimated 8.9% in the second half of 2023. Domino's Pizza Enterprises also operates in countries including Singapore, Japan and Taiwan. Spokespeople for Domino's Pizza Enterprises and Procter & Gamble did not immediately respond to Business Insider's request for additional comment. In an investor presentation last month, Unilever CEO Hein Schumacher said that some of its brands in Indonesia have been affected by "the wars in the Middle East."

Persons: —, America —, Donald Meij, Domino's, Gamble, McDonald's hasn't, Ian Borden, Borden, Hein Schumacher Organizations: Service, Business, Pizza Enterprises, Enterprises, Palestine, CNN, Israel, Procter & Gamble, Bloomberg, Starbucks, Domino's Pizza Enterprises, Procter, Reuters, Unilever Locations: Gaza, Australia, Europe, Asia, Malaysia, Singapore, Japan, Taiwan, Israel, Indonesia, Pakistan, pushback, Egypt, Jordan, London

☆ Russian military blogger Igor Girkin sentenced to four years in prison on extremism charges
▼ + stars: | 2024-01-25 | by ( Rob Picheta | ) edition.cnn.com time to read: +3 min

CNN —Igor Girkin, a prominent Russian pro-war blogger who criticized President Vladimir Putin’s handling of the war on Ukraine, has been found guilty on extremism charges and sentenced to four years in prison by a Moscow court. Moscow City Court convicted Girkin, also known under his pseudonym, Strelkov, of inciting extremism – a charge he denied. Girkin was an influential blogger and critic of Putin. The court in 2022 found Girkin guilty of mass murder for his role in the incident and he was sentenced in absentia to life in prison. According to the court, Girkin participated in the conflicts in Chechnya, Transnistria and Bosnia.

Persons: Igor Girkin, Vladimir Putin’s, Girkin, Strelkov, Putin, Wagner, Natalia Kolesnikova, ” Organizations: CNN, Court, Federal Security Service, Malaysia Airlines Flight, Getty, Angry Patriots Club, Reuters, Donetsk People’s, DPR Locations: Russian, Ukraine, Moscow, Crimea, Donbas, Russia, AFP, Donetsk, Donetsk People’s Republic, Netherlands, Chechnya, Transnistria, Bosnia

☆ Batu Caves: This 400 million-year-old cave site and temple in Malaysia is planning an escalator upgrade
▼ + stars: | 2024-01-20 | by ( Heather Chen | ) edition.cnn.com time to read: +2 min

To reach the temple housed in a limestone cave at the top, visitors must currently climb 272 steps. Adding an escalator would make the site “more accessible,” a spokesperson for the site’s management committee told a press conference Friday. “We hope the government will assist us since this (escalator) will allow the disabled and elderly who are unable to climb the steps to reach the main temple,” said temple committee chairman R. Nadarajah. Visitors on the stairs leading up to Batu Caves' Sri Subramaniar Swamy temple. Batu Cave officials say the strategy has worked, pointing out the colorful stairs have become popular with Instagrammers.

Persons: “, ”, Nadarajah, Mohd Samsul Mohd Said Organizations: CNN, Visitors, Tourists, Malaysian Locations: Malaysia, Batu, Kuala Lumpur

☆ Malaysia’s last tigers: Why this rare image is giving conservationists hope
▼ + stars: | 2024-01-17 | by ( Rebecca Cairns | ) edition.cnn.com time to read: +9 min

“This image is the last image of the Malayan tiger — or it’s the first image of the return of the Malayan tiger,” he says. ‘A million-dollar shot’Regular camera traps — like the hundreds already used by the park’s scientists, researchers and conservationists — are typically the size of a large smartphone and activated by broad-range motion sensors. Rondeau's high-resolution camera traps included a DSLR camera in a waterproof casing. Emmanuel Rondeau, wildlife photographerBut there’s still more work to be done. As a keystone species, tigers are essential to a healthy ecosystem – and without them, the 130-million-year-old rainforests around the Belum-Temengor complex could be threatened, too.

Persons: CNN — Emmanuel Rondeau, “, ”, Rondeau, ” Rondeau, ‘, —, I’m, ” Rondeau didn’t, ‘ I’m, Carol Debra, Azlan Mohamed, Mohamed, Debra, Emmanuel Rondeau, Stuart Chapman, Chapman, ” Stuart Chapman, Merapi Mat Razi, there’s Organizations: CNN, WWF, Peninsular Malaysia, Malayan, Malaysia, Malaysia WWF, Malaysia —, country’s, “ Tigers, US, Malayan Tiger Conservation, Tiger, WWF’s Tigers, Initiative, Tigers, WWF – Malaysia, Royal, United Nations, Conservation Task Force, Bureau Locations: Asia, Siberia, Bhutan, Malaysia, Peninsular, Southeast Asia, Belum, Asli, “, Royal Belum, Laos, Cambodia, Vietnam, Park

☆ Malaysia to Review Migrant Labour Deals to Stamp Out Exploitation
▼ + stars: | 2024-01-16 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +2 min

KUALA LUMPUR (Reuters) - Malaysia will review bilateral agreements with 15 nations from which it sources labourers in a bid to address exploitative practices and manpower imbalances that have left thousands of migrant workers stranded without jobs, officials said. The plight of the migrants coincided with concerns over workplace abuses in Malaysia, with several companies facing U.S. bans over the use of forced labour in recent years. They said Malaysia still had a shortage of workers in the agriculture and plantations sector, while quotas have been exceeded in other industries. Workers from Indonesia, Bangladesh and Nepal account for over 70% of Malaysia's migrant labour, with the remainder coming from countries including India, Vietnam, Pakistan, and Thailand. Sim said 751 Bangladesh migrant workers had filed cases with the labour department to claim unpaid wages, involving a total of 2.2 million ringgit ($467,687).

Persons: Saifuddin Nasution Ismail, Steven Sim, Sim, Rozanna, Miral Fahmy Organizations: Reuters, Workers, Human Locations: KUALA LUMPUR, Malaysia, Bangladesh, Nepal, Indonesia, India, Vietnam, Pakistan, Thailand

☆ The most exciting new trains coming in 2024
▼ + stars: | 2024-01-04 | by ( Ben Jones | ) edition.cnn.com time to read: +13 min

CNN —Around the world, travelers are flocking back to trains, and demand is increasing across the board for high-speed trains, luxury “land cruises” and long-distance day and night trains. Here are some of the best new trains you’ll be able to take in 2024. Laurie Dieffembacq/Belga/AFP/Getty ImagesLinks between two of Europe’s most visited capitals have traditionally been pretty poor, with no direct trains since the 1990s. Ian Clarke/Alamy Stock PhotoFour continents, 13 countries, and seven luxury trains across 80 days – the ultimate experience for rail travel connoisseurs is due to depart in late 2024. BelmondOne of the world’s greatest luxury train journeys is returning to the rails in 2024 after a four-year gap.

Persons: Laurie Dieffembacq, Dimorestudio, Vita ”, Riva Aquarama, itineraries, Jeroen Berends, Gabriel Bouys, it’s, Jesus Hellin, That’s, Trenitalia, Luigi Ferraris, France –, Railbookers, Ian Clarke, we’ve, ”, Frank Marini, Alex Halada, There’s Organizations: CNN, Orient, Getty, ÖBB, Austrian Federal Railways, SNCF, Eurostar, National, Europa Press, French, Renfe, FS, Rocky Mountaineer, Royal, Orient Express, Oriental, ”, Oriental Express, Austrian Railways, Swiss Locations: Swiss, Venice, Paris, Berlin, AFP, Strasbourg, Frankfurt, Italy, Rome, Matera, Palermo, Sicily, Messina, Europe’s, Istanbul, Split, Brussels, Prague, Europe, Dutch, Dresden, Belgian, Roman, Naples, Madrid, Spain, France, Spanish, Barcelona, Lyon, Marseille, Canada, Central Europe, India, South Africa, Eastern, Vancouver, Malaysia, Singapore, Malaysia’s, Kuala Lumpur, Langkawi, Penang, Bangkok, Vienna, Innsbruck, Hamburg, Switzerland, Germany, Zürich, Gornergrat Bahn, Zermatt, Gornergrat, Riffelalp

☆ CNN took an 11-day cruise through some of the most-contested waters on Earth. Here’s what we learned
▼ + stars: | 2023-12-03 | by ( Brad Lendon | ) edition.cnn.com time to read: +23 min

China claims almost all of the 1.3 million-square-mile South China Sea as its sovereign territory. In daylight hours in the South China Sea, from Ottawa’s flight deck or outdoor bridge wings, Chinese warships are often visible to the naked eye. Aviator Gregory Cole/Canadian Armed Forces PhotoOn October 29, things take a potentially dangerous turn, one that could have cost lives and ratcheted up tensions in the South China Sea to new levels. Radar operators scan their instruments in a Canadian antisubmarine warfare helicopter over the East China Sea. Hammerhead targets drones await their fate on the deck of the frigate HMCS Ottawa in the South China Sea.

Persons: Sam Patchell, Jacob Broderick ,, Ben Hughes, Gregory Cole, he’s, “, King Neptune, Xi Jinping, Brad Lendon, Rafael Peralta, Collin Koh, ” Patchell, Patchell, Aviator Gregory Cole, ”, haven’t, Xi, Rob Millen, they’d, Long, Peralta, It’s, Qinetiq, Noble, That’s, Cmdr, Sean Milley, Christine Hurov, Wally Shirra, it’s, Wally Schirra, Loverboy’s, Australia’s, doesn’t, We’ll Organizations: HMCS, HMCS Ottawa CNN, Royal Canadian Navy, Canada, United, Naval Warfare Officers, Canadian Armed Forces, US Navy, Ottawa, CNN, Canada’s Defense Ministry, Chinese Communist Party, Coast Guard, Rajaratnam, of International Studies, People’s Liberation Army Navy, PLA Navy, United Nations, Ottawa's, Cyclone, Canadian, Royal Canadian Air Force, Chinese Defense Ministry, Pentagon, troika, Peralta, Brisbane, CNN Radio, New, New Zealand Navy’s, Cmdr, HMNZS Aotearoa, Australian, Southern Hemisphere, One Locations: HMCS Ottawa, Taiwan, Ottawa, China, United States, Canadian, South China, Gaza, Ukraine, East, Washington, Singapore, Beijing, Spratly, Vietnam, Philippines, Malaysia, Brunei, Chinese, South, East China, CNN Beijing, Canada, Gulf of Mexico, West Coast, Australian, Brisbane, Australia, Japan, New Zealand, Okinawa, replenishments, Aotearoa, American, Ottawa’s

☆ Exxon Mobil CEO urges COP28 to focus on reducing emissions — not phasing out fossil fuels
▼ + stars: | 2023-12-02 | by ( Sam Meredith | ) www.cnbc.com time to read: +5 min

There's also an ongoing debate about whether an agreement should center on "abated" fossil fuels, which are trapped and stocked with carbon capture and storage technologies, or "unabated" fossil fuels, which are largely understood to be produced and used without substantial reductions in the amount of emitted greenhouse gases. "We cannot save a burning planet with a firehose of fossil fuels," Guterres said. "The 1.5-degree limit is only possible if we ultimately stop burning all fossil fuels. Not everyone is on board with calls to phase out fossil fuels, however. An Exxon Mobil gas station in Washington, DC, US, on Tuesday, Nov. 28, 203.

Persons: Darren Woods, There's, Steve Sedgwick, Woods, U.N, António Guterres, Guterres, Phaseout, David Paul Morris, Exxon Mobil's Woods, Tengku Muhammad Taufik, I'm Organizations: UNITED, EMIRATES, Exxon Mobil, United Arab Emirates, United Arab, Exxon Mobil Corp, Economic Cooperation, APEC, Bloomberg, Getty Images Bloomberg, Getty, Exxon, Big Oil, Petronas, Natural Resources, Mobil Locations: Dubai, COP28, Russia, United Arab Emirates, Asia, San Francisco , California, San Francisco, China, UAE, Washington , DC

☆ Mindanao blast: Three people killed as explosion hits Sunday mass service in Philippine university gym
▼ + stars: | 2023-12-02 | by ( Heather Chen | Alex | ) edition.cnn.com time to read: +1 min

CNN —At least three people were killed and nine injured by an explosion at a Sunday mass service being held in a university gymnasium in the Philippines, according to a regional official. The blast took place in Marawi on the southern island of Mindanao on Sunday morning, according to CNN affiliate CNN Philippines. Governor of the Lanao del Sur province, Mamintal Adiong Jr., condemned what he called a “violent bombing incident” on a gymnasium at the Mindanao State University during a Sunday mass congregation. Mindanao, a province in the far south of the Philippines, sits at the borders of Malaysia and Indonesia and is home to several Islamist insurgent groups including Abu Sayyaf. The island, the second largest in the Philippines, has long been a hotbed of insurgency against the Philippine government.

Persons: Mamintal Adiong, Abu Sayyaf Organizations: CNN, CNN Philippines, Mindanao State University, ISIS Locations: Philippines, Marawi, Mindanao, Lanao del Sur province, Malaysia, Indonesia, Philippine

☆ Malaysia Brings Home 121 Suspected Victims of Job Scams Trapped in Myanmar Conflict
▼ + stars: | 2023-11-30 | by ( Nov. | At P.M. | ) www.usnews.com time to read: +1 min

KUALA LUMPUR (Reuters) - A total of 121 people, mostly Malaysians suspected of being victims of job scams, were evacuated from Myanmar on Friday after being stranded by fighting between the military and rebel groups in the country's north, Malaysia's foreign ministry said. The mission came amid continuous fighting in northern Myanmar after an alliance of armed ethnic groups launched an offensive in late October. The groups have seized control of several towns and military outposts near the country's border with China, disrupting trade. Malaysia's deputy foreign minister Mohamad Alamin said the rescued group were among 128 people stranded in Laukkaing, a town in Myanmar's northern Shan state, state news agency Bernama reported on Friday. Hundreds of Malaysians have been rescued from cybercrime and job scam networks across Southeast Asia in recent years.

Persons: Mohamad Alamin, Bernama, Malaysia's, Mohamad, Rozanna Latiff, Gerry Doyle Organizations: Reuters Locations: KUALA LUMPUR, Myanmar, Indonesian, Kuala Lumpur, Kunming, China, Laukkaing, Shan, Southeast Asia

☆ Elephant herd tramples car after baby struck along Malaysian highway
▼ + stars: | 2023-11-28 | by ( Heather Chen | ) edition.cnn.com time to read: +3 min

CNN —A herd of wild elephants in Malaysia trampled on a car traveling along a major highway after it struck a baby in their group, local authorities said Monday. It had been drizzling and foggy at that time, Gerik Police added, and the car was “negotiating a left bend on the highway” when it hit the baby elephant. Authorities did not provide further updates about the condition of the elephant baby. In 2017, a baby elephant was discovered dead on the side of a highway, apparently killed by a car believed to have been speeding, elephant conservation group Management and Ecology of Malaysian Elephants (MEME) said at the time. In 2020, a distressed adult elephant trampled on a car that had been traveling on the same highway as the latest incident.

Persons: ”, Zulkifli Mahmood, “, ” Mahmood, Sylvain CORDIER Organizations: CNN, Gerik Police, Police, Management, Malaysian Locations: Malaysia, Gerik, Malay, Penang, Terengganu, Borneo

☆ Chinese court starts hearing lawsuits against Malaysia Airlines over missing flight MH370
▼ + stars: | 2023-11-27 | by ( Nectar Gan | ) edition.cnn.com time to read: +7 min

Jiang Hui speaks with CNN in an interview in Beijing on November 21, 2023, days before a Chinese court began hearing lawsuits over the disappearance of Malaysia Airlines flight MH370. All of them are international companies headquartered outside China, though Malaysia Airlines, Boeing and Roll-Royce have offices in China. In Malaysia, two young boys who lost their father on the flight sued Malaysia Airlines for breach of contract and the Malaysian government for negligence in 2014. In China, families who signed a settlement agreement with Malaysian Airlines received 2.5 million yuan ($350,000) in compensation. Only a few dozen Chinese families signed initially, but over the years more have opted to settle.

Persons: Jiang Hui, Jiang Cuiyun, MH370, Jiang, ” Jiang, Royce, Covid, “, ”, – Organizations: Beijing CNN —, Malaysia Airlines Flight, CNN, Court, Maylasia Airlines, Boeing, Malaysia Airlines, Allianz, Rolls, Malaysian, Malaysian Airlines Locations: China, Beijing, Malaysia, Kuala Lumpur, Chaoyang District, United States, Africa, Australia, Mauritius, Madagascar

SAN FRANCISCO (AP) — K-pop superstar Rosé said Friday at a mental health awareness event hosted by first lady Jill Biden that it's important for the world to understand that famous people grapple with emotional struggles, too. Rosé, a part of the supergroup BLACKPINK, said having a large social media following makes her feel vulnerable, particularly when people are critical. “People who are older -- we never, ever spoke about mental health,” Biden said. Apple CEO Tim Cook opened the event but blanked briefly when the teleprompter went out. Cook recovered, telling the crowd he'd “go ahead and ad lib," then thanked everyone for coming and introduced the first lady.

Persons: —, Rosé, Jill Biden, there’s, ”, ” Biden, Vivek Murthy, Tim Cook, “, Cook, Wan, Wan Ismail, you’ve, ” Cook, ” Kim Keon Hee, Rachael Marape, Louise Araneta Organizations: FRANCISCO, Apple, Economic Cooperation, Marcos Locations: Cupertino, Asia, Pacific, California, Malaysia, South Korea, Papua New Guinea, Philippines

Hadri and Umar on Thursday began their defence after being accused of murdering Mongolian Altantuya Shaariibuu. Sirul was arrested on an Interpol notice and has been held in an Australian immigration detention centre since January 2015, after fleeing Malaysia shortly before the verdict was handed down. His release comes just days after a landmark ruling by Australia's High Court that outlawed indefinite immigration detention, leading to the release of dozens of asylum seekers. Malaysia's top police official Razarudin Husain confirmed news of Sirul's release from Australian detention and said police would discuss with the Attorney-General and the courts the possibility of seeking extradition. Sirul was serving as a member of Najib’s personal security detail at the time of the murder.

Persons: Azilah Hadri, Sirul Azhar Umar, Hadri, Umar, Bazuki Muhammad, Najib Razak, Sirul, Razarudin Husain, Sirul’s, Najib, Praveen Menon, Rozanna, Lincoln Organizations: Thursday, Mongolian, REUTERS, Rights, Australia's, Attorney, Thomson Locations: Shah Alam, Kuala Lumpur, KUALA LUMPUR, Malaysian, Australia, Malaysia, Canberra, Malaysia’s, Sydney

☆ Malaysia says sultan's heirs withdraw claim on Paris buildings
▼ + stars: | 2023-11-10 | by ( ) www.reuters.com time to read: +1 min

KUALA LUMPUR, Nov 10 (Reuters) - Malaysia said the heirs of a former sultan have withdrawn their claims over three Malaysian-owned diplomatic properties in Paris, as part of a $15 billion arbitration dispute between the two sides. An enforcement judge in Paris on Nov. 9 "recorded the claimants' withdrawal from the proceedings they had initiated to seize the... diplomatic buildings," Malaysia's law ministry said in a statement issued late on Thursday. But in June, a Paris court upheld the Malaysian government's challenge against enforcing a partial award. In the statement, the law ministry said the enforcement judge also quashed an earlier order authorising that a statutory mortgage be registered on the three buildings. The judge asked the heirs of the sultan to pay 15,000 euros ($16,008) to Malaysia as costs, in addition to the 100,000 euros ordered by a Paris Court of Appeal earlier this year, it said.

Persons: Martin Petty Organizations: Malaysian, of, Paris, Thomson Locations: KUALA LUMPUR, Malaysia, Paris, Sulu

☆ CIMB, J Trust among suitors for Indonesia's Bank Commonwealth -sources
▼ + stars: | 2023-10-31 | by ( Yantoultra Ngui | Thomson Reuters | Yantoultra Ngui Is A Southeast Asia Deals Correspondent With Reuters In Singapore | ) www.reuters.com time to read: +2 min

REUTERS/Bazuki Muhammad/File Photo Acquire Licensing RightsSINGAPORE, Oct 31 (Reuters) - Malaysian bank CIMB (CIMB.KL) and Japanese finance company J Trust (8508.T) are among firms vying to buy Indonesia's PT Bank Commonwealth, a deal that could value the lender at $400-$500 million, two sources with knowledge of the matter said. Bank Commonwealth, which is 99% owned by Australia's biggest lender Commonwealth Bank of Australia (CBA) (CBA.AX), focuses on retail lending as well as corporate banking services for small and medium enterprises. 2 bank, and J Trust have expressed interest and are looking at submitting binding bids, the sources said. CIMB, J Trust, CBA and Morgan Stanley declined to comment. Bank Commonwealth did not respond to a Reuters request seeking comment.

Persons: Bazuki Muhammad, Morgan Stanley, Yantoultra Ngui, Anton Bridge, Kane Wu, Edwina Gibbs Organizations: CIMB, REUTERS, Rights, J Trust, Indonesia's PT Bank Commonwealth, Bank Commonwealth, Australia's, Commonwealth Bank of Australia, CBA, Bank International Indonesia, China's, China's Bank of, SS, Thomson Locations: Kuala Lumpur, Rights SINGAPORE, Malaysian, Indonesia, Southeast, Southeast Asia, China's Bank, China's Bank of Hangzhou, Hangzhou, Singapore, Tokyo

☆ Rare-earths miner Lynas jumps as Malaysia allows key plant extension
▼ + stars: | 2023-10-25 | by ( Rishav Chatterjee | ) www.reuters.com time to read: +2 min

A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. The licence extension comes despite concerns raised in recent years by Malaysia regarding radiation levels from the cracking and leaching operations during raw material processing. Science and technology minister Chang Lih Kang said Lynas will be allowed to import radioactive material and continue processing rare earths, provided the firm carries out thorium extraction to remove radioactive waste. The brokerage also lifted its price target on the biggest rare earths miner outside of China by 3% to A$7.70 and upgraded the earnings outlook for a near-term period. Lynas' Malaysia refinery, its first outside China, has been embroiled in a radiation dispute at the plant with Lynas challenging an earlier ruling that would have halted operations.

Persons: Dado Ruvic, Chang Lih Kang, Lynas, Rishav Chatterjee, Janane Organizations: REUTERS, Lynas, Macquarie, Malaysian, Thomson Locations: Malaysia, Lynas Malaysia, Pahang, China, Western Australia, Bengaluru

☆ Australia's Lynas plans temporary shutdown of Malaysia ops, shares fall
▼ + stars: | 2023-10-20 | by ( Echha Jain | ) www.reuters.com time to read: +3 min

A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. Shares of the miner closed 1.9% lower, after falling as much as 2.7% to A$6.24 mid-trade, the stock marked its lowest since May 3. It will implement an upgrade to its downstream operations at Lynas Malaysia to increase production of neodymium-praseodymium (NdPr) to about 10,500 metric tons per annum. The world's largest producer of rare earths outside China also reported a 21.8% drop in its first quarter sales revenue to A$128.1 million ($81.04 million). NdPr production for the quarter came in at 1,526 rare earth oxide tonnes (REOt), compared with 1,045 REOt a year earlier.

Persons: Dado Ruvic, Lynas, Anwar Ibrahim, Echha Jain, Adwitiya Srivastava, Roushni Nair, Devika Syamnath, Jacqueline Wong Organizations: REUTERS, 10,500tpa, Malaysian, Thomson Locations: Malaysia, Lynas Malaysia, Kalgoorlie, Western Australia, China, Bengaluru

The Lynas refinery in Malaysia, its first outside China producing minerals that are crucial to high-tech manufacturing, has been operating in central Pahang state since 2012. Lynas's operating license was extended by six months until Dec. 31. To again renew its license, Lynas must move its cracking and leaching processes — which produce the radioactive waste from Australian ore — out of Malaysia. Key variables include include the operating license conditions in Malaysia and the start-up and commissioning process in Kalgoorlie,” it said. It is one of Asia’s largest radioactive waste cleanup sites.

Persons: Lynas Organizations: Malaysian, Malaysia —, Japan’s Mitsubishi Group, — Locations: KUALA LUMPUR, Malaysia, China, Pahang, Kalgoorlie, Australia, ”, Perak

☆ Australia's Lynas announces planned shutdown of Malaysia ops
▼ + stars: | 2023-10-19 | by ( ) www.reuters.com time to read: +2 min

A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsOct 20 (Reuters) - Australia's Lynas Rare Earths (LYC.AX) said on Friday there will be a planned shutdown of all its operations in Malaysia except its mixed rare earth carbonate processing plant in the December quarter. The company also reported a 21.8% fall in first-quarter revenue, hurt by lower product prices and continued accumulation of inventory. The company will implement an upgrade to its downstream operations at Lynas Malaysia to increase production of neodymium-praseodymium to about 10,500 tonnes per annum. ($1 = 1.5808 Australian dollars)Reporting by Echha Jain and Adwitiya Srivastava in Bengaluru; Editing by Devika SyamnathOur Standards: The Thomson Reuters Trust Principles.

Persons: Dado Ruvic, Lynas, Echha Jain, Adwitiya Srivastava, Devika Organizations: REUTERS, Malaysian, Mt, Thomson Locations: Malaysia, Kalgoorlie, Western Australia, China, Bengaluru

☆ Australia's Lynas announces planned shutdown of Malaysia ops, shares fall
▼ + stars: | 2023-10-19 | by ( Echha Jain | ) www.reuters.com time to read: +3 min

A small toy figure and mineral imitation are seen in front of the Lynas Rare Earths logo in this illustration taken November 19, 2021. REUTERS/Dado Ruvic/Illustration Acquire Licensing RightsSummaryCompanies Lynas to conduct planned shutdown of Malaysia opsCo to upgrade NdPr production in Malaysia to 10,500tpaQtrly sales revenue slips 21.8%Shares fall as much as 2.7%Oct 20 (Reuters) - Australia's Lynas Rare Earths (LYC.AX) said on Friday it planned to shut all operations in Malaysia except a mixed rare earth carbonate processing plant in the December quarter, with minimal volumes of the raw material processed during the shutdown. Shares of the miner fell as much as 2.7% to A$6.24 by 0045 GMT, the lowest since May 3. It will implement an upgrade to its downstream operations at Lynas Malaysia to increase production of neodymium-praseodymium (NdPr) to about 10,500 tonnes per annum. NdPr production for the quarter came in at 1,526 rare earth oxide tonnes (REOt), compared with 1,045 REOt a year earlier.

Persons: Dado Ruvic, Lynas, Anwar Ibrahim, Henry Jennings, Echha Jain, Adwitiya Srivastava, Devika Syamnath, Jacqueline Wong Organizations: REUTERS, Co, 10,500tpa, Malaysian, Marcustoday, Thomson Locations: Malaysia, Kalgoorlie, Western Australia, China, Bengaluru

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