<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 16): Conglomerate DRB-Hicom Bhd said it has not received any notice of a buyout offer from tycoon Tan Sri Syed Mokhtar Albukhary Syed Nor, who owns a 56% stake in the company through investment vehicle Etika Strategi Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>In a bourse filing on Friday (Dec 16), DRB-Hicom said to date, it has also not received any notification from Syed Mokhtar that he is conducting a strategic review on the company.</p></div>

<div class=newsTextDataWrapInner><p>It was responding to a Bloomberg report on Thursday, citing people with knowledge of the matter, that the tycoon was in talks with potential advisers on options that could involve a buyout of DRB-Hicom. The report added that Syed Mokhtar was also weighing a stake sale or other ways to further streamline DRB-Hicom’s businesses.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"DRB-Hicom will make the appropriate announcement(s) to Bursa Malaysia ... if there is any development on the matter," the group said in Friday's filing.</p></div>

<div class=newsTextDataWrapInner><p>DRB-Hicom shares closed up two sen or 1.3% at RM1.56 on Friday, translating into a market capitalisation of RM3.02 billion.</p></div>


Conglomerate DRB-Hicom Bhd said it has not received any notice of a buyout offer from tycoon Tan Sri Syed Mokhtar Albukhary Syed Nor, who owns a 56% stake in the company through investment vehicle Etika Strategi Sdn Bhd.

In a bourse filing on Friday (Dec 16), DRB-Hicom said to date, it has also not received any notification from Syed Mokhtar that he is conducting a strategic review on the company.

DRB-Hicom says yet to receive buyout proposal from tycoon Syed Mokhtar

Here is a brief recap of some corporate announcements that made the news on Thursday.

Bumi Armada, MISC, Berjaya Food, Mr DIY, Prolintas, Lysaght, Keyfield, Teo Seng, YTL Power, Ranhill Utilities, Seal and LBS Bina

US regulators led by the Federal Reserve have refused to endorse a plan that would have seen the Basel Committee on Banking Supervision push lenders to disclose their climate risk, according to people familiar with the matter.

Fed refuses to back Basel climate plan, leaving talks in limbo

Ford Motor Co agreed to a US$165 million (RM733.5 million) civil penalty to settle allegations the company failed to recall cars with defective rearview cameras in a timely manner, the second largest fine ever levied by the National Highway Traffic Safety Administration (NHTSA).

Ford hit with near-record US$165 mil penalty on recall failure

Small and medium enterprises (SMEs) play a crucial role in driving economic growth within the Asia-Pacific Economic Cooperation (Apec) region, particularly when it comes to fostering inclusive development, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.

SMEs play crucial role in driving growth in Apec economies, fostering inclusivity — Tengku Zafrul

The government will draft the Government Procurement Bill (GP Bill) in taking specific steps to increase transparency in the government procurement process, according to the Ministry of Finance.

Govt procurement draft bill to be tabled in Parliament next year

Bina Puri Holdings Bhd (KL:BPURI) said on Thursday that its associate company KL-Kuala Selangor Expressway Bhd (Latar) has won an arbitration case against Prolintas Expressway Sdn Bhd and was awarded RM46.13 million.

Bina Puri's associate wins RM46 mil in arbitration case against Prolintas 

Walt Disney Co posted fiscal fourth-quarter (4Q) sales and profit that beat Wall Street estimates and forecast earnings growth for the next three years, a rare event for a company that historically hasn’t made long-range profit projections.

Disney 4Q profit beats expectations as movies, streaming gain

The number of women holding positions as Members of Parliament, State Assembly members and ministers in Malaysia remains low, said Deputy Minister of Communications Teo Nie Ching.

Female representation in Parliament, state assemblies still low, says Teo

Wall Street's main indexes edged lower in choppy trading on Thursday after monthly producer prices rose as expected, with investors awaiting Federal Reserve (Fed) Chair Jerome Powell's comments later in the day for clues on the outlook for interest rates.

Wall Street struggles for direction after in-line monthly producer prices

Chinese President Xi Jinping will arrive in Lima on Thursday, kicking off a week-long diplomatic blitz in Latin America by inaugurating the massive Chancay deepwater port, one of Beijing's most ambitious infrastructure investments in Latin America.

China's Xi arrives in Lima for Apec, to open Pacific megaport

<p>Gold miner Niche Capital Emas Holdings Bhd (KL:NICE) has commenced gold mining operations at the Sokor North Gold Mine in Kelantan, with the successful commissioning of its heap leaching plant there.</p>


Niche Capital Emas begins gold mining ops in Kelantan

<p>Cash-rich Lysaght Galvanized Steel Bhd (KL:LYSAGHT) has declared a special dividend of 35 sen per share as its quarterly earnings rose to an eight-year high.</p>

<p>This brings the total dividend declared to 43 sen per share in the current financial year ending Dec 31, 2024 (FY2024) so far — the highest since FY2018 when it paid out 50 sen dividend per share.</p>


Lysaght pays special dividend of 35 sen as earnings rise to eight-year high

<p>Scomi Energy Services Bhd (KL:SCOMIES), a Practice Note 17 (PN17) company, said it is "in a preliminary discussion with a white knight to formulate a regularisation plan to be submitted before Jan 31, 2025". It did not elaborate.</p>


Scomi Energy says in talks with another potential white knight after Dhaya Maju deal falls through

<p>Berjaya Food Bhd (KL:BJFOOD) on Thursday posted its fourth consecutive quarter in the red as the anti-Israel boycott movement continued to affect the group, which operates the Starbucks coffee chain in Malaysia.</p>


Berjaya Food logs fourth quarter in the red due to anti-Israel boycott

<p>Home-grown retailer Mr D.I.Y. Group (M) Bhd (KL:MRDIY) saw a marginal 1.9% drop in its third-quarter net profit, on higher administrative and other operating expenses, which increased by 25.6% and 10.2% year-on-year (y-o-y) to RM56.7 million and RM283.7 million respectively.</p>


Higher administrative expenses drag down Mr DIY's 3Q net profit slightly, one sen dividend declared

<p>Teo Seng Capital Bhd (KL:TEOSENG) posted a 32.4% jump in its third quarter net profit, lifted by strong gains in its key poultry farming business, as well as its segment on investments and trading of poultry-related products.</p>

<p>Net profit for its July-September quarter (3QFY2024) climbed to RM58.1 million from RM43.8 million a year ago.</p>


Teo Seng signals strong prospects as it posts 32% jump in 3Q profit 

<p>CapitaLand Malaysia REIT Management Sdn Bhd (CMRM), the manager of CapitaLand Malaysia Trust (KL:CLMT), has appointed Yong Su-Lin as chief executive officer, designate (CEO designate) of the company effective Jan 2, 2025.</p>


CapitaLand Malaysia Trust names Yong Su-Lin as CEO-designate from Jan 2

<p>Here is a brief recap of some corporate announcements that made the news on Thursday.</p>


<p>Prolintas Infra Business Trust (KL:PLINTAS), which owns highways, nearly tripled its net profit for the third quarter thanks to a jump in toll collection and tax credit.</p>


Prolintas Infra's 3Q net profit nearly triples as toll collection jumps, on track to meet distribution target

<p>UOA REIT (KL:UOAREIT) saw its net rental income fall 12.6% to RM18.66 million in its third quarter ended Sept 30, 2024 (3QFY2024), from RM21.34 million a year ago, as gross rental dropped on the departure of an anchor tenant, while operating expenses climbed.</p>


UOA REIT's 3Q rental income falls on loss of anchor tenant, higher expenses

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>ACE Market-listed Farm Price Holdings Bhd (KL:FPHB), a Johor-based wholesaler and distributor of fresh vegetables, food and beverage (F&amp;B) products, is expanding its distribution reach to Sabah.</p>


Farm Price ventures into Sabah's fruit business via stake purchase in KK firm

<p>YTL Power International Bhd's (KL:YTLP) 53.2%-owned subsidiary Ranhill Utilities Bhd (KL:RANHILL) has scrapped plans to jointly pursue a public-private partnership project with China Energy International Group Co Ltd (CEIG) for the proposed development of a regional drinking water supply facility project in Indonesia. This follows the expiry of a memorandum of understanding (MOU) on Oct 29.</p>


Ranhill Utilities, China Energy scrap plan to pursue water supply facility project in Indonesia

<p>Petroliam Nasional Bhd (Petronas) has made new investments totalling RM7.5 billion at the Pengerang Integrated Complex (PIC) near Kota Tinggi.</p>


Petronas invests another RM7.5b in Pengerang Integrated Complex — Onn Hafiz

<p>LBS Bina Group Bhd (KL:LBS) said it it looking into developing a 10-gigawatt (GW) green hydrogen plant in Kota Marudu, Sabah jointly with the Sabah Forestry Development Authority (Safoda) and two other companies.</p>


LBS Bina inks MOU to develop green hydrogen plant in Sabah

<p>Oil and gas services firm Keyfield International Bhd (KL:KEYFIELD) on Thursday reported record quarterly earnings and revenue, driven by higher vessels utilisation rates and increased vessel numbers.</p>


Keyfield books record earnings for 3Q, pays four sen dividend

<p>The number of Americans filing new applications for unemployment benefits fell last week, suggesting the labour market continued to chug along and that the abrupt slowdown in job growth in October was an aberration.</p>


US weekly jobless claims fall; unemployment rolls shrink

<p>Hume Cement Industries Bhd (KL:HUMEIND) posted a net profit of RM47.42 million for its first quarter ended Sept 30, 2024 (1QFY2025), down slightly from RM48.33 million a year ago, as lower market demand weighed on cement sales.</p>


Hume Cement sees slight fall in 1Q profit, declares higher dividend

<p>MELAKA (Nov 14): The Malaysian Institute of Road Safety Research (Miros) has introduced three safety guidelines for electric vehicles (EVs), aimed at improving the efficiency of EV safety management.</p>


Loke: Miros issues guidelines on EV safety

<p>Engineering outfit Pestech International Bhd (KL:PESTECH) said Shandong Power Equipment Co Ltd (Speco) has initiated arbitration proceedings against its wholly owned PESTECH Sdn Bhd (PSB) over what Speco claimed were unpaid dues related to the supply of transformers.</p>
