00:00 Putrajaya may release more net energy metering or NEM quotas for rooftop solar installations
00:11 for residential, commercial and industrial buildings before the year ends, as the existing
00:16 allocation that was expended this year was taken up last week.
00:20 The quota expansion is in line with the government's ongoing efforts to promote greater adoption
00:26 of rooftop solar.
00:28 In a reply to The Edge, Natural Resources, Environment and Climate Change Minister Nick
00:33 Nazmi Nick Ahmad said the ministry is looking into the right quantum of quota to be released
00:39 and will make an announcement before year-end.
00:41 It is also looking at enhancing the rollout of rooftop solar installations with rooftop
00:47 leasing and buyback schemes, although not much details have been shared.
00:52 The faster NEM take-up rates seen this year come on the back of the government's decision
00:57 to remove the blanket subsidy on electricity tariffs since the start of this year, with
01:02 higher tariffs seen for high-voltage and high-consumption users across both residential and non-residential
01:09 groups implemented in the second half of the year.
01:12 The Malaysian Bar has initiated judicial review proceedings to challenge former Attorney-General
01:23 Sultan Syed Idris Haran's decision to apply a discharge not amounting to an acquittal
01:28 in Deputy Prime Minister Datuk Syed Ahmad Zahid Hamidi's case involving the alleged
01:33 siphoning of funds from Yayasan Akal Budi.
01:36 Bar President Karen Chia said this legal recourse was taken as part of the Bar's statutory
01:41 duty to uphold the cause of justice uninfluenced by fear of favour.
01:46 She said Zahid's case holds national and public interest as it involves grave accusations
01:51 of criminal breach of trust, bribery and money laundering against an individual in power
01:56 and authority at the time he was charged.
01:59 It is the Malaysian Bar's concerted view, Chia said, that the AG's discretionary powers
02:05 under the federal constitution is not absolute and should be restricted in its scope and
02:10 limit exercised in a justiciable manner as determined by the courts.
02:15 Separately, amid speculation that Zahid has cancer and will resign as UMNO President,
02:20 the Deputy PM said this was untrue and that he has fully recuperated after undergoing
02:26 an operation last month.
02:28 He returned to work last Friday after recovering from the surgery.
02:32 Prominent lawyer Tan Sri Muhammad Shafi Abdullah and the Inland Revenue Board are in talks for
02:42 a possible settlement in a dispute over RM9.414 million of purported unpaid taxes.
02:49 According to counsels for both parties, they are looking to see if they can resolve this
02:54 amicably and that there are one or two things that have yet to be ironed out.
02:59 The IRB filed the suit against Shafi in May 2021 over five years of alleged unpaid taxes
03:05 from 2011 to 2014 and 2016.
03:09 Shafi has said the claim is inaccurate, unlawful and tainted with malafide and that he had
03:15 submitted a revised capital statement as final consideration for a tax settlement.
03:21 In September 2021, the IRB applied for a summary judgment to be entered against Shafi and a
03:28 hearing was slated for today.
03:30 But the matter was adjourned due to the ongoing talks.
03:33 High Court Judicial Commissioner Rosmawa Rozen gave the parties two weeks to finalise negotiations.
03:40 In the event that an agreement can't be reached, she said the court will proceed to
03:44 hear the IRB's summary judgment application on December 15.
03:48 Kanger International said its largest shareholder and executive director, Kwa Chun Cheng, has
03:59 disposed of his entire 12.28% stake in the company.
04:03 According to a Boris filing today, Kwa offloaded the stake, comprising 74.05 million shares
04:09 via the open market on November 30, ceasing to be a substantial shareholder in the construction outfit.
04:17 Based on the price tag of 7 cent per share stated in the filing, he disposed of the block
04:21 of shares for 5.18 million ringgit.
04:25 Following Kwa's divestment of his stake, the company's largest shareholder is now
04:29 Si Tong Nai, with an 8.39% stake.
04:32 He is also the lone substantial shareholder of Kanger.
04:36 Kwa was made an executive director of Kanger in August 2020.
04:41 Shares in Kanger closed 7.14% lower at 6.5 cent today, giving the company a market capitalisation
04:48 of 42.24 million ringgit.
04:50 Opcom Holdings has proposed to change its corporate name to Hexter Capital Effective
05:01 immediately, its Bursa filing showed today.
05:04 Notably, Hexter's Group CEO, Datuk Eddie Ong Choo Meng, is its largest shareholder
05:09 with a 31.74% direct stake.
05:12 The broadband infrastructure provider was also thrust under the spotlight in September
05:17 this year after it acquired an 18.03% stake or 70 million shares in Ace Market-listed
05:23 Binasat Communications from the latter's managing director, Nabun Aik, for 39.2 million
05:29 ringgit as part of its venture into the satellite telecommunications business.
05:35 The acquisition came less than two months after Opcom said it was eyeing a 49% stake
05:40 in Transgrid Ventures for 98 million ringgit via a cash-plus-share deal to diversify into
05:47 the power transmission and distribution business.
05:50 Opcom's shares fell 0.8% to 60.5 cent, valuing it at 232.33 million ringgit.
05:58 To date, the stock has fallen by 18.24%.
06:02 [Music]
