Silk Holdings, Gadang Holdings, Genting, Mesiniaga, WCT Holdings, Axiata, Uzma, Guocoland, Spring Gallery, Country View, FSBM Holdings, Tex Cycle, Green Packet and Yen Global

KUALA LUMPUR (Jan 18): Based on corporate announcements and news flow today, companies that may be in focus on Thursday (Jan 19) include Silk Holdings, Gadang Holdings, Genting, Mesiniaga, WCT Holdings, Axiata, Uzma, Guocoland, Spring Gallery, Country View, FSBM Holdings, Tex Cycle, Green Packet and Yen Global. Under the deal, Kwasa Land will receive RM165.5 million for the development rights and revenue sharing from Gadang. This follows a novated contract signed between its wholly-owned subsidiary Uzma Engineering Sdn Bhd with THHE Fabricators Sdn Bhd and Petronas Carigali Sdn Bhd on Oct 24 last year. The proposed development will feature two blocks of medium-end apartments on land measuring 3.3ha, with an estimated GDV of RM161.2 million. The first tranche of the placement exercise was completed in end-December 2016, with 6.36 million shares issued, raising a total of RM1.27 million.

January 18, 2017 16:09 UTC

Benjamin Mora assumes new role as JDT coach

JOHOR BARU: Johor Darul Ta’zim (JDT) has announced the appointment of former JDT II coach Benjamin Mora to take up the spot left vacant by Mario Gomez, who officially parted ways with the award-winning football club,today. Mora assumes duty as the club’s coach effective immediately. Mora, 51, is a Mexican-born coach with experience in Mexican clubs such as Cafetaleros, Guerreros, Gallos Blancos and Atlante. He was appointed JDT II coach in December 2015 and he was sent for training at Atletico Madrid in November last year. With this move, JDT II will now be coached by Hamzani Omar.

January 18, 2017 15:33 UTC

SPAD initiates RFP proposal for Klang-Kuala Lumpur BRT project

KUALA LUMPUR: The Land Public Transport Commission (SPAD) has initiated a Request for Proposal (RFP) exercise for bids to implement the Kuala Lumpur- Klang Bus Rapid Transit (BRT) busway along the Federal Highway. The Kuala Lumpur - Klang BRT line is the most important corridor from the 12 identified BRT corridors under the Klang Valley BRT Feasibility Study. The proposed BRT Kuala Lumpur - Klang line will span 34km with 25 stations. The BRT Kuala Lumpur - Klang line is expected to cut travel time from the Federal Capital to Klang from the present 70 minutes to 40 minutes. “The project implementation scope will include comprehensive planning, design, finance, construction, operation, maintenance and upgrade of the Kuala Lumpur - Klang BRT project,”said a statement from SPAD today.

January 18, 2017 13:43 UTC

Cameroon have not asked for ban on Liverpool's Matip - Football

The Cameroon Football Federation (FECAFOOT) has made no official comment on the issue, while Liverpool are consulting their lawyers before deciding whether to play him. Matip was called up for the finals despite having not played for the Indomitable Lions since last year's World Cup in Brazil. "Liverpool have subsequently repeatedly sought, as a matter of urgency, clarity from FIFA in this regard," the club said. Liverpool manager Juergen Klopp said he would seek advice from the club's lawyers before using Matip. Of course I have to ask (Liverpool's lawyers) but the decision is for me to make.

January 18, 2017 13:00 UTC

Owners of iconic Ampang Park lose appeal over MRT's land acquisition

PUTRAJAYA: The Court of Appeal today dismissed a judicial review application by 39 strata owners of the iconic Ampang Park shopping centre against the land acquisition for the Klang Valley Mass Rapid Transit (MRT) Ampang Park station project. Abang Iskandar also ruled that the acquisition of the appellants’ land properties as per their strata titles was done in compliance of the law and the right fundamental constitution. The court ordered the appellants to pay RM70,000 in cost to the three respondents, namely RM30,000 to the Federal Territories Land and Mines Office director and the Federal Territories Land administrator and RM40,000 to MRT Corp.Senior federal counsel Shamsul Bolhassan acted for the Federal Territories Land and Mines Office director and the Federal Territories Land administrator while lawyer Robert Lazar represented MRT Corp. On Jan 8, last year, 39 business owners and tenants of the Ampang Park shopping centre filed a legal action to overturn the approval for the mall’s demolition to make way for an underground walkway connecting the new MRT station to the Ampang Park Light Rail Transit (LRT) station. Their application was dismissed by the High Court on June 30, last year, ruling that it was proper and had been done in accordance with the law, among them the Land Acquisition Act 1960.

January 18, 2017 12:28 UTC



Bollywood actor Salman Khan acquitted in weapons case

MUMBAI (Jan 18): An Indian court on Wednesday acquitted Bollywood movie star Salman Khan of possessing an unlicensed weapon nearly two decades ago, ending a case that threatened to derail the career of one of the country's biggest actors. The actor, who built his career on portrayals of bad boys with a heart of gold, was previously cleared of the poaching charge. The actor could have faced up to seven years in jail if found guilty of possessing an unlicensed gun. Minutes after the verdict, Khan, accompanied by a gaggle of lawyers and his sister, walked out of court without stopping to comment on the verdict. In 2015, the Bombay High Court overturned his conviction in a hit-and-run case in which he was accused of running over a homeless man.

January 18, 2017 12:07 UTC

Deutsche Bank CEO looks to future after mortgages settlement

Germany's biggest bank on Tuesday finalised a US$7.2 billion settlement with the DoJ over its sale of toxic mortgage securities in the run-up to the 2008 financial crisis. Combined with an earlier US$1.9 billion settlement with U.S. government-controlled Fannie Mae and Freddie Mac, America's biggest providers of housing finance, the total bill for the mortgages issue stands at US$9.1 billion. "Ultimately, Deutsche Bank enriched itself by paying reduced prices for risky loans, while representing to investors valuation metrics based on appraisals the bank knew to be inflated," the statement said. "The general view is that the worst point in investment banking is behind us and that it would be stupid to cut back significantly now. The prospects for investment banking are improving, partly because of the program of the new U.S. President Trump," one of the people said.

January 18, 2017 11:24 UTC

Defender Ilori joins Reading from Liverpool - Football

(Reuters) - Defender Tiago Ilori has joined Reading from Liverpool on a three-and-a-half year contract for an undisclosed fee, the Championship side said in a statement on Wednesday. The 23-year-old Portugal youth international joined Liverpool from Sporting Lisbon in 2013 and made three senior appearances for the Premier League club. "Tiago is the type of defender a lot of people like - his technical skill, passing ability, pace, quality and physique. We always want players with those attributes within our squad," Reading manager Jaap Stam told the club website. (www.readingfc.co.uk)(Reporting by Simon Jennings in Bengaluru; Editing by Amlan Chakraborty)

January 18, 2017 11:01 UTC

PNB to buy SILK Highway for RM380 mil

KUALA LUMPUR (Jan 18): Silk Holdings Bhd's toll concession asset will be sold to Permodalan Nasional Bhd (PNB) for RM380 million, both said in a joint statement today. According to the press release, Silk Holdings has entered into a conditional share purchase agreement with PNB for the disposal of 100% of the issued and paid-up share capital of Sistem Lingkaran-Lebuhraya Kajang Sdn Bhd (SILK) for a cash consideration of RM380 million. This confirmed The Edge Financial Daily's report that a government-linked fund is involved in preliminary talks with Silk Holdings to buy the asset. SILK is the concession holder of the 37-kilometre Kajang Traffic Dispersal Ring Road (SILK Highway) under the concession agreement executed in October 1997 to finance, design, construct, operate and maintain the SILK Highway for 36 years, ending July 31, 2037. Recall that before PNB, there had been three different parties expressing interest to buy into SILK Highway since 2014 — IJM Corp Bhd, Taliworks Corp Bhd and WZ Satu Bhd — before they made a U-turn.

January 18, 2017 10:55 UTC

India to consider Apple's request for incentives with 'open mind': minister - Tech News

NEW DELHI: India will consider Apple's request for incentives to invest in the country with an "open mind", Information Technology Minister Ravi Shankar Prasad told reporters on Jan 18. "We will very much like Apple to come and have a base in India," Prasad said. Apple has sent a list of demands to the Indian Government, seeking tax concessions and several other policy exceptions, as necessary pre-requisites before it starts production of its iPhones in India.

January 18, 2017 10:44 UTC

AirAsia lifts broader market but no oomph for KLCI - Business News

KUALA LUMPUR: Low-cost carrier AirAsia rose in active trade on Wednesday, helping to sustain the broader market but there was no strong institutional buying for blue chips after a two-day recovery.At 5pm, the KLCI was up 1.99 points or 0.12% to 1,665.02. CIMB rise eight sen to RM4.82 and nudged the KLCI up 1.16 points while Maybank rose four sen to RM8.21, Hong Leong Bank added six sen to RM13.30 and Public Bank two sen higher at RM20.08. Aeon Credit jumped 56 sen to RM16.02 and it was the top gainer of the day. Genting Bhd rose four sen to RM8.33 and Genting Malaysia was flat at RM4.74 while MISC fell six sen to RM7.34 and Tenaga was unchanged at RM13.90. Digi fell six sen to RM4.89, Telekom lost three sen to RM6.06, Maxis shed two sen to RM6.05 but Axiata edged up two sen to RM4.66.AirAsia rose 17 sen to RM2.63 with 43.78 million shares done.

January 18, 2017 10:27 UTC

Man City's Kolarov refuses to give up title hopes - Football

(Reuters) - Manchester City still have a chance of winning the Premier League title this season, defender Aleksandar Kolarov said, despite Pep Guardiola's men sliding 10 points behind leaders Chelsea after 21 games. "I still think the title race will go to the very last day and we have to make sure we're involved," Kolarov told the club website (www.mancity.com). "We just need to turn more games into wins because we've dominated some matches but not ended up winning," he said. "Every game is tough in the Premier League whether they are at the top or the bottom. "For all the players it is a great pleasure to play under him because he's the best coach in the football at the moment," Kolarov added.

January 18, 2017 09:28 UTC

Federal police question ex-Bersih official over alleged OSF funds

KUALA LUMPUR: Former Bersih 2.0 treasurer was today questioned by police over funds allegedly received from US billionaire George Soros’s Open Society Foundation (OSF). Masjaliza Hamzah, 50, said she has chosen to remain silent when asked on the matter. "All questions asked were related to Bersih, its accounts, etc. Masjaliza however said she reserved her right to remain silent and did not answer the questions posed. To date, more than 20 activists have been called up for questioning over the issues surrounding foreign fundings.

January 18, 2017 09:09 UTC

Qualcomm accused of forcing deal on Apple to thwart rivals - Tech News

The lawsuit presents yet another regulatory challenge to Qualcomm’s most lucrative business, technology licensing. Qualcomm has argued that its licensing follows industry standards that have been in place for more than 20 years and are used by other companies. Qualcomm is the biggest developer of the technology that underlies how mobile devices communicate. The chipmaker has argued that the beneficiaries of regulatory action – phone-makers – have struck new deals that acknowledge the validity of Qualcomm’s patents. Underlining the importance of those patents, it brought in US$7.66bil (RM34.05bil) of licensing revenue in its most recent financial year.

January 18, 2017 09:04 UTC

Ibrahimovic 'invaluable' for Man United youngsters, says Rashford - Football

(Reuters) - The experience of playing and practising with Zlatan Ibrahimovic has proved invaluable for the young Manchester United players who should make the most of the charismatic striker's presence at Old Trafford, according to team mate Marcus Rashford. "For the young players to see his character and the way he approaches every game is invaluable. "We have to try to learn from him while he is here and take what we can from his game." I grew up watching Rooney play week in, week out at Old Trafford, so those are the two that you look at and try to emulate," he added. United are sixth in the league, 12 points behind leaders Chelsea after 21 games, and they travel to face ninth-placed Stoke City on Saturday.

January 18, 2017 08:13 UTC



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