'Hopefully this challenging year will end and the new year's rays will last.'
There are only a few days left before the challenging year 2022 draws its curtain.
The local market has been plagued by various difficulties this year with the global situation not allowing and internal political turmoil subtly undermining growth.
Check out a rundown of what's happening throughout 2022 that caught the attention of the local market below.
Dynamic drama that has no point
The issue of the undisclosed discovery of the country's gas engineering company often adorns the chest of the press throughout the year.
It started in April when 4 of the company's top executives were released and released by the court after paying a compound of RM16 million by the Malaysian Securities Commission (SC).
Towards the end of the year, Serba Dinamik shares were suspended on December 23 after missing the deadline to submit the audit findings requested by Bursa Malaysia.
The company is also on the verge of delisting in June 2023 after still stubbornly not submitting the audit findings that were ordered.
Issue of Sultanate of Sulu Confiscation of Petronas Assets
There was a commotion earlier this year when the heirs of the Sulu sultanate seized 2 national assets in Luxembourg - Petronas Azerbaijan (Shah Deniz) SÃ rl and Petronas South Caucasus SÃ rl.
It was made as damages decided by an arbitrator earlier who ordered Malaysia to pay the heirs of Sulu an amount of $14.9 billion.
Then in September, Petronas assets in the Netherlands namely Petronas Carigali Canada BV, Petronas International Power Corporation BV and PLI (Netherlands) BV once again tried to be seized by the heirs of the Sulu sultanate.
But Malaysia has filed criminal proceedings against the arbitrator in Spain and formed a special task force to study the Sulu claim.
Bank Negara Malaysia Awards Its First Digital Banking License
During last April, BNM announced 5 winners who successfully obtained the country's first digital banking license in an effort to integrate technology, business and banks.
3 of the winners are Boost Holdings Sdn Bhd and RHB Bank Bhd, GXS Bank Pte Ltd and Kuok Brothers Sdn Bhd, as well as Sea Ltd and YTL Digital Capital Sdn Bhd.
2 more won the Islamic digital bank license are AEON Financial Service Co Ltd, AEON Credit Service (M) Bhd and MoneyLion Inc and KAF Investment Bank Sdn Bhd.
Winners are judged on character and integrity; the nature and adequacy of financial resources; soundness and feasibility of business and technology plans; and the ability to address financial inclusion gaps.
