KUALA LUMPUR: Main Market-bound DXN Holdings Bhd aims to raise about RM121.6mil from the public issue portion of its initial public offering (IPO), which will go towards the repayment of bank borrowings and working capital requirements. The maximum IPO price is set at 76 sen per share with the final price to be determined via a bookbuilding exercise. Maybank Investment Bank Bhd is the principal adviser of the IPO, as well as joint global coordinator, joint bookrunner, joint managing underwriter and joint underwriter. CIMB Investment Bank Bhd is joint global coordinator, joint bookrunner, joint managing underwriter and joint underwriter. CLSA Limited and CLSA Securities Malaysia Sdn Bhd are joint global coordinators and joint bookrunners for the IPO whereas RHB Investment Bank Bhd is a joint bookrunner and joint underwriter.
Source:The Star
April 28, 2023 16:45 UTC
KUALA LUMPUR (April 27): Genting Malaysia Bhd’s proposed US$1.225 billion (RM5.433 billion) land divestment in Miami is set to reinforce the group’s financial strength in its bid for a downstate New York gaming licence. Genting Malaysia originally bought the Miami Herald land for US$246 million in 2011. Genting Malaysia is bidding for a New York table gaming licence, and the projected capital expenditure is US$1 billion,” they added. The disposals, which require shareholders’ approval, would enable Genting Malaysia to recognise an estimated gain of US$967 million. “Thus, the sale of the aforesaid property will not negatively impact our Genting Malaysia earnings estimates materially,” he said.
Source:The Edge Markets
April 28, 2023 15:16 UTC
KUALA LUMPUR (April 27): Property developer Radium Development Bhd, en route to a Main Market listing on May 31, has set a price of 50 sen per share for its initial public offering (IPO) exercise that will raise RM434 million. The exercise comprises a public issuance of 868 million new shares, or 25% of its enlarged share capital of 3.47 billion shares. A further 435 million shares will be offered by way of private placement to selected Bumiputera investors approved by the Ministry of Investment, Trade and Industry, followed by the remaining 100 million shares for selected investors by way of private placement. In terms of financial results, Radium posted a PAT of RM128 million on the back of a revenue of RM472.81 million for FY2019. Read also:Radium Development inks underwriting agreement with Malacca Securities and CIMB Investment BankRadium Development gets SC's nod to list on Main MarketProperty developer Radium Development seeks Main Market listing
Source:The Edge Markets
April 28, 2023 02:34 UTC
KUALA LUMPUR: CIMB Group Holdings Bhd 's 92.5% indirectly held Indonesian subsidiary PT Bank CIMB Niaga Tbk (CIMB Niaga) reported a 29.5% year-on-year (YoY) jump in pre-tax profit to 2.0 trillion rupiah (about RM607mil) in the first quarter, translating to earnings per share of 63.42 rupiah. Total loans/financing grew 10.1% YoY to 201.1 trillion rupiah (or 199.6 trillion rupiah excluding Salam financing) contributed mainly by growth in corporate banking and consumer banking. Mortgages grew by 5.5% YoY, while auto loans rose 20.6% Y-o-Y, including contributions from the bank’s subsidiary, PT CIMB Niaga Auto Finance (CNAF). “In CIMB Niaga, we also focus on customer centricity, which we do by continuing to provide unique and different values as well as a positive experience to customers when performing banking transactions with CIMB Niaga," Lani said. To support its business growth, CIMB Niaga continues to improve customer experience by offering a comprehensive suite of products and services through its 414 branches and networks (including 37 digital lounges).
Source:The Star
April 27, 2023 22:29 UTC
TAIPEI (April 27): The billionaire founder of Taiwan's Foxconn and presidential hopeful Terry Gou said on Thursday (April 26) China does not want war with the island and would not attack if he become president as he would not declare independence. Gou, one of Taiwan's most recognisable faces, stepped down as chief of major Apple Inc supplier Foxconn, which has extensive manufacturing facilities in China, in 2019. China wanted to develop its economy and focus on things like finding jobs for college graduates and feeding its people, Gou said. "I won't (declare) independence, you won't attack me or fly around Taiwan," he added, referring to the almost daily missions by China's air force in the vicinity of the island. Tsai has repeatedly offered talks with China but she has been rebuffed as Beijing believes she is a separatist.
Source:The Edge Markets
April 27, 2023 18:04 UTC
KUALA LUMPUR (April 27): Genting Malaysia Bhd (GenM) expects to realise an estimated gain on disposal of US$967 million (RM4.289 billion) from the disposal of four parcels of land in Miami measuring 15.47 acres (Miami Herald land) for US$1.225 billion. In a Bursa Malaysia filing on Thursday (April 27), GenM said its unit Resorts World Miami LLC had entered into a conditional sale and purchase agreement (SPA) with Smart Miami City LLC. The gaming group said the disposal of the Miami Herald land to the purchaser on an “as is where is” basis and with possession subject to the terms and conditions of the SPA. On the rationale for the sale, GenM said the Miami property market has grown significantly since its acquisition of the Miami Herald land in 2011, with the Miami Home Price Index nearly tripling to 398.56 as at Dec 1, 2022. Read also:Genting Malaysia 2.25% higher at noon break after announcement of RM5.4b sale of Miami propertyGains from Genting Malaysia’s Miami land disposal a large windfall, says Nomura
Source:The Edge Markets
April 27, 2023 07:44 UTC
KUALA LUMPUR (April 27): Bursa Malaysia opened higher on Thursday on bargain hunting boosting a rebound in financial services heavyweights despite Wall Street’s negative performance overnight, according to an analyst. At 9.08am, the FTSE Bursa Malaysia KLCI (FBM KLCI) rose 1.17 points to 1,415.42 from Wednesday’s close of 1,414.25. “Hence, despite Nasdaq closing 55 points higher, the Dow Jones Industrial (DJI) Average slipped 229 points with the US 10-year yield inching higher at 3.445%. The FBM ACE Index was 17.20 points better at 5,367.86, while the FBM 70 index dropped 18.47 points to 13,540.25. Sector-wise, the Industrial Products and Services Index inched up 0.07 of a point to 171.55, the Financial Services Index gained 32.71 points to 15,524.75 and the Plantation Index went up 5.90 points to 6,890.36.
Source:The Edge Markets
April 27, 2023 07:34 UTC
IPOH: A toddler was found drowned in a children's pool at a house in Tambun on Tuesday (April 25) night. Ipoh OCPD Asst Comm Yahaya Hassan said the girl, who was only one year and nine months old, was found floating in the pool by her parents at about 8.45pm. "Initial investigations found that the incident occurred at the house of the victim's grandfather," he said. "Prior to the incident, the victim was with her parents in the house when they were there for a visit," he added. He said the case was being investigated under Section 33 of the Child's Act for leaving a child without reasonable supervision.
Source:The Star
April 26, 2023 16:56 UTC
KUALA LUMPUR: Capital A Bhd ’s engineering and maintenance subsidiary Asia Digital Engineering (ADE), has secured an investment of US$100mil from OCP Asia Ltd. Capital A chief executive officer Tan Sri Tony Fernandes said during its capital raising exercise, ADE has received strong interest from numerous global investment funds, who have seen the recovery potential of the regional and global airline industry. “This investment vindicates Capital A’s strategy of diversifying into more than just an airline. We have now set up a fantastic group of airline, airline services, digital and logistics companies with a tremendous upside and now that Covid has ended, investors and the public markets are realising the enormous potential of Capital A,” he added. Meanwhile, OCP Asia founding partner Teall Edds believed ADE, with its best-in-class engineering capabilities, technology-driven value proposition and experienced management team is well-positioned to be a leading aviation MRO player in the region.
Source:The Star
April 26, 2023 16:06 UTC
KUALA LUMPUR (April 26): Bursa Malaysia reversed Tuesday's (April 25) gains to trade lower in the early session on Wednesday due to profit-taking, taking its cue from the weaker Wall Street performance overnight, an analyst said. At 9.05am, the FTSE Bursa Malaysia KLCI (FBM KLCI) dropped 3.3 points to 1,421.89 from Tuesday’s close of 1,425.19. “Given the cautious global market undertone, investors may lean away from technology counters especially after Nasdaq fell under the psychological 12,000 level,” it said. Among heavyweight counters, Malayan Banking Bhd was one sen lower at RM8.64, Public Bank Bhd fell one sen to RM3.92, Petronas Chemicals Group Bhd shed nine sen to RM7.11, and CIMB Group Holdings Bhd eased two sen to RM5.14, while CelcomDigi Bhd rose one sen to RM4.42. The FBM ACE Index was 6.55 points easier at 5,313.09 and the FBM 70 index fell 33.82 points to 13,595.79.
Source:The Edge Markets
April 26, 2023 13:23 UTC
KUALA LUMPUR (April 26): Bursa Malaysia ended the morning session in negative territory in tandem with the weaker regional market performance following a deep selldown of global equities overnight, said an analyst. At lunch break, the FTSE Bursa Malaysia KLCI (FBM KLCI) shrank 10.4 points to 1,414.79 from Tuesday’s close of 1,425.19. The barometer index opened 3.22 points weaker at 1,421.97 and moved between 1,413.80 and 1,422.48 throughout the midday session. Petronas Chemicals Group Bhd was flat at RM7.20. The FBM ACE Index was 0.34 of a point higher at 5,319.98 and the FBM 70 index slipped 83.71 points to 13,545.90.
Source:The Edge Markets
April 26, 2023 08:53 UTC
A VIRAL post on TikTok claims that the Road Transport Department (JPJ) is opening bidding for vehicle registration numbers on social media. JPJ said it was concerned over the viral issue as well as the use of the JPJeBid logo on TikTok. "The use of the official JPJ logo without permission is an offence and the department will not hesitate to take strict action against any individual misusing the department's official logo," it said in the Facebook post. JPJ advised the public not to be easily duped by fake accounts and urged them to contact the nearest JPJ office or its official social media channels for more accurate information. It also urged the public to send complaints via its official complaint channel at http://jpj.spab.gov.my/eApps/system/index.do
Source:The Star
April 25, 2023 23:31 UTC
MALAYSIAN filmmaker Amanda Nell Eu may not be a familiar name to most Malaysians, but she has set a record by becoming the first female Malaysian director to head to the prestigious Cannes Film Festival in France. Her movie, Tiger Stripes, is in competition for the coveted award for best first feature film at the event and is set to showcase her talent as a rising filmmaker in Malaysia. Tiger Stripes tells the story of 12-year-old Zaffan, who struggles with puberty and discovers her body morphing in a terrifying way, with her friends turning against her, and soon, dropping dead one by one. “Even in art school I was making weird small films and music videos for the bands that I was in. For now, she has already earned her stripes as a young filmmaker.
Source:The Star
April 25, 2023 07:56 UTC
KUALA LUMPUR: Two women and a man have been arrested in connection with the assault of a bank clerk. Ampang Jaya OCPD Asst Comm Mohamad Farouk Eshak said the incident occurred at around 3.30pm on Friday (April 21). He said the attack was believed to have been sparked by an argument between the complainant and one of the suspects. "Two days after the incident, we arrested a local woman, a foreign woman and a local man aged between 34 and 52. "We have remanded the local woman to assist further investigations," he said.
Source:The Star
April 24, 2023 16:48 UTC
The dentist was told to open a new bank account and move all his money there while police investigated his other accounts. The dentist did as instructed, and transferred about RM220,000 kept in different accounts to the new account. He was later directed to reveal his new bank account details. The sources said the dentist only realised that he had been conned when the scammers continued to demand for more money. They asked her to fill up an online form detailing her bank account and bank card details and also her father’s bank details as a guarantor,” a source said.
Source:The Star
April 24, 2023 15:07 UTC