<div class=newsTextDataWrapInner><p>SINGAPORE (June 24): A subsidiary of Boustead Projects has acquired the property at 28 &amp; 30 Bideford Road from SC Aetas Holdings (also known as the Singapore subsidiary) after the latter was placed under creditors’ voluntary liquidation.</p></div>

<div class=newsTextDataWrapInner><p>The consideration amount for the property is US$515.0 million, excluding tax, and will be funded via external bank financing, as well as shareholders’ loans.</p></div>

<div class=newsTextDataWrapInner><p>The consideration was arrived at on the basis of<a href="https://www.theedgesingapore.com/news/property/boustead-projects-subsidiary-acquires-28-30-bideford-road-5150-mil" target="_blank"><em>...(click on link for full story on theedgesingapore.com</em></a>)</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>


SINGAPORE (June 24): A subsidiary of Boustead Projects has acquired the property at 28 & 30 Bideford Road from SC Aetas Holdings (also known as the Singapore subsidiary) after the latter was placed under creditors’ voluntary liquidation.

Boustead Projects' unit acquires 28 & 30 Bideford Road for S$515.0 mil

Here is a brief recap of some business news and corporate announcements that made the headlines on Wednesday

Reservoir Link, Swift Energy, MAHB, Aeon, Ahmad Zaki, CJ Century Logistics, UUE, Erdasan, Edaran, Lim Seong Hai Capital, Fibromat

KUALA LUMPUR, 6 JANUARY 2025 – Over the years HSBC has continued its tradition of giving its customers uniquely designed ‘lai-see’ (利是) or ‘hong-bao’ (红包) packets, that is much sought-after during Chinese New Year as a symbol of good fortune and well-being for generations of families.

HSBC Malaysia rings in Chinese New Year with Prosperity Rice and Prosperity Water for Premier Customers

A private contractor suffered a massive loss of more than RM5.9 million after he was scammed by a non-existent investment scheme via Facebook.

Selangor police chief Datuk Hussein Omar Khan said the 58-year-old victim began participating in the investment in September after he was attracted to the impressive-sounding credentials of an investment advertisement by a "Davidson Kempner Capital Management (DKCM MYS-C)" advertised on the social media site.

Contractor loses more than RM5.9 mil in investment scam

Practice Note 17 (PN17) company Annum Bhd (KL:ANNUM) has appointed Messrs LTTH PLT as its auditor, effective Wednesday.

Annum parts ways with auditor who couldn't vouch for company's financials, appoints new one

Malaysia welcomes direct investment from Indonesian companies and encourages strategic collaborations such as mergers between companies owned by Malaysian and Indonesian entities, said Prime Minister Datuk Seri Anwar Ibrahim.

Malaysia welcomes Indonesian investment, strategic mergers, says Anwar

US stocks dipped on Wednesday, as uncertainty prevailed on Wall Street after the release of two sets of jobs data and a report that said President-elect Donald Trump was mulling a national economic emergency declaration.

Wall Street slips as investors assess data, report of Trump's economic emergency

UK markets tumbled, pushing bond yields to the highest in more than a decade, as jitters over persistent inflationary pressures sparked unnerving comparisons with the 2022 gilt crisis.

Benchmark 10-year yields jumped as much as 14 basis points to 4.82%, the highest since August 2008.

UK 10-year yields hit highest since 2008 as market rout deepens

The new, interim leader of Austria's conservatives demanded assurances from the far right on Wednesday that they want to keep Austria free from Russian interference, laying out potential flashpoints as they head into coalition talks.

Austrian conservatives in coalition talks want far-right assurances of no interference from Russia

The number of Americans filing new applications for unemployment benefits fell to an 11-month low last week, pointing to a stable labour market, though a slowdown in hiring has led some laid-off workers to experience long bouts of joblessness.

US weekly jobless claims fall to 11-month low

Edaran Bhd, an IT and telecommunications company, has proposed a share capital reduction to wipe out its accumulated losses.

The exercise will involve reducing up to RM52 million of its RM68.02 million share capital, according to the company's bourse filing on Wednesday.

Edaran plans RM52 mil share capital reduction to eliminate losses

<p>The level of acceptances of the takeover offer by Gateway Development Alliance (GDA), the consortium proposing to privatise Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT), has reached 83.04% as of the first closing date of Jan 8.</p>

<p>On top of that, a total of 18.18 million shares, representing a 1.09% stake, has also been transferred to the offerors but pending receipt of the acceptance document.</p>


Khazanah-EPF-led consortium amasses 84% stake in MAHB, seven working days left to meet 90% condition

<p>The three biggest banks in Singapore — Oversea-Chinese Banking Corp (OCBC), DBS Group Holdings Ltd and United Overseas Bank (UOB) — closed at all-time highs on Wednesday after Malaysia and Singapore signed the Johor Singapore Special Economic Zone (JS-SEZ) agreement.</p>


Singaporean banks reach all-time high after JS-SEZ agreement

<p>Chief Justice Tun Tengku Maimun Tuan Mat hopes the present and future governments will uphold the cause of judicial independence to ensure the country's economic growth.</p>


Chief justice hopes Anwar and future govt remain committed to upholding judicial independence

<p>Outgoing Chief Justice Tun Tengku Maimun Tuan Mat said that she had never coveted the country’s top judicial post, and while it was an intimidating position to hold, upon accepting it six years ago, she was fully committed to serving the position properly and would not “bend or bow” to any person.&nbsp;</p>


Chief justice: I never coveted top judicial post 

<p>US President-elect Donald Trump is considering declaring a national economic emergency to provide legal justification for a series of universal tariffs on allies and adversaries, <i>CNN</i> reported on Wednesday, citing sources familiar with the matter.</p>


Trump mulls national economic emergency declaration to allow for new tariff programme — report

<p>Soon-to-retire Chief Justice Tun Tengku Maimun Tuan Mat, mindful of three other top judges in the country who are also close to retirement, urged incoming judges to uphold their oaths of office and adhere to <em>stare decisis</em>, a Latin term meaning 'to stand by things decided'. It refers to the doctrine of precedent in justice, where courts follow previous rulings in similar cases to ensure consistency in legal decisions.</p>


Outgoing chief justice reminds new judges to strictly adhere to doctrine of precedent

<p>Despite a quality education and extensive experience in politics and governance, Datuk Seri Najib Razak disagreed that it would be impossible for him to be misled on national level affairs.</p>


1MDB-Tanore: Najib says despite education and intelligence, still possible to be misled 

<p>Iran is pushing to recoup 25 million barrels of oil from China that has been stuck for six years in Chinese ports due to sanctions imposed by then-US President Donald Trump, three Iranian and one Chinese source familiar with the matter said.</p>


Iran pushes China to let it sell US$1.7b worth of stranded oil — Reuters

<p>Swift Energy Technology Bhd (KL:SET), which made its debut on the ACE Market on Wednesday, is expecting mid-teen earnings growth in the current financial year, leveraging new opportunities in the renewable energy (RE) industry within the oil and gas (O&amp;G) sector.</p>


Newly-listed Swift Energy sees mid-teen earnings growth for FY2025

<p>Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Wednesday.</p>


FBM KLCI falls 0.92% to 1,614.83 on Jan 8, 2025

<p>The directors of UUE Holdings Bhd, an underground utilities engineering firm, have collectively disposed of shares valued at RM29.14 million on the ACE Market to institutional funds, following the expiry of the typical six-month moratorium period on directors' shares after the company's initial public offering (IPO).</p>


UUE Holdings directors sell RM30m worth of shares

<p>Global Development Alliance’s (GDA) inability) to secure 90% shareholder acceptance for its takeover of Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT) by the initial Jan 8, 2025, deadline is an indication of the government’s failure and investors’ rejection of the privatisation plan, said Machang MP Wan Ahmad Fayhsal Wan Ahmad Kamal.</p>


Inability to meet 90% acceptance for MAHB takeover signals govt failure — Perikatan MP

<p>Malaysia's international reserves dipped to US$116.2 billion as at Dec 31, 2024, from US$118.1 billion two weeks earlier on Dec 13.</p>


Bank Negara's international reserves dipped to US$116.2 bil as at Dec 31

<p>Apple still cannot sell its iPhone 16 in Indonesia despite striking a deal to build a local production facility there, as it has not met domestic content rules, the industry minister said on Wednesday.</p>


Apple still barred from selling iPhone 16 in Indonesia despite investment deal, minister says

<p>Indonesia has clamped down on exports of used cooking oil (UCO) and palm oil residue to ensure supply to domestic cooking oil and biodiesel industries, the government said in a new regulation on Wednesday.</p>


Indonesia curbs exports of used cooking oil, palm residue to help domestic users

<p>A purported royal document allowing Malaysia's jailed former prime minister Datuk Seri Najib Razak to serve the remainder of his sentence under house arrest was never hidden, the communications minister said on Wednesday.</p>


Fahmi says purported royal document granting home detention for Najib not withheld

<p>Japanese economy minister Ryosei Akazawa said on Wednesday he believed a potential foreign acquisition of retail giant Seven &amp; i was a matter "heavily related" to national security.</p>


Japan's Seven & i deal related to national security, economy minister says

<p>CJ Century Logistics Holdings Bhd (KL:CJCEN) has appointed Kim HyunChul as its new deputy chief executive officer (CEO), succeeding Kim JinMok, who resigned after nearly two years of service with the company.</p>


CJ Century Logistics names Kim HyunChul as new deputy CEO

<p>Aeon Co (M) Bhd (KL:AEON) announced on Wednesday that the High Court has granted the company a conditional stay of the judgment issued on Dec 16, 2024, which found Aeon in breach of a tenancy agreement with Betanaz Properties Sdn Bhd, a 51%-owned subsidiary of Ahmad Zaki Resources Bhd (KL:AZRB).</p>


Aeon gets stay of High Court ruling in tenancy dispute with Ahmad Zaki unit, pending appeal 

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