<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 13): Ekovest Bhd has completed the sale of a 40% stake in the Duta-Ulu Kelang Expressway (DUKE) concession to the Employees Provident Fund Board (EPF), and will be paying a 25 sen special dividend to shareholders.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia, Ekovest said its shares will trade ex-dividend on Feb 23, with the payout slated for March 8.</p></div>

<div class=newsTextDataWrapInner><p>Ekovest previously said it was disposing of its 40% equity interest held in Konsortium Lebuhraya Utara-Timur (KL) Sdn Bhd (Kesturi) to the EPF for RM1.13 billion.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Kesturi is the concessionaire for DUKE, a 34-kilometre highway comprising two phases, with a concession period of 54 years. It was previously an indirect wholly-owned unit of Ekovest. On completion of the stake sale, it is left with a 60% stake in Kesturi.</p></div>

<div class=newsTextDataWrapInner><p>Ekovest said the remainder of the disposal proceeds will be used for repayment of borrowings, exit payment, working capital and expenses for the corporate exercise.</p></div>

<div class=newsTextDataWrapInner><p>In a separate announcement today, Ekovest also updated on its share split, which involves the sub-division of every two existing shares into five, which will go ex on Feb 23 as well.</p></div>

<div class=newsTextDataWrapInner><p>Ekovest gained two sen or 0.71% to RM2.85 today, giving it a market capitalisation of RM2.44 billion.</p></div>


KUALA LUMPUR (Feb 13): Ekovest Bhd has completed the sale of a 40% stake in the Duta-Ulu Kelang Expressway (DUKE) concession to the Employees Provident Fund Board (EPF), and will be paying a 25 sen special dividend to shareholders.

In a filing with Bursa Malaysia, Ekovest said its share...

Ekovest to pay 25 sen special dividend on completion of DUKE stake sale to EPF

Wheat is one of the world’s most-vital crops. The grain is used in staples like bread, couscous, chapatis and noodles — and high prices for the commodity have a long history of kickstarting unrest.

US wheat comes to rescue market plagued by Russian shortfall

The cancellation of the permit for popular comedian Sharul Channa to perform in Malaysia by the Central Agency for Application for Filming and Performance by Foreign Artistes (Puspal) was made after taking into account police reports lodged over an old video of hers that allegedly touched on race, religion, and royalty (3R) issues, says Communications Minister Fahmi Fadzil.

Cancellation of Sharul Channa's permit took into account police reports on video related to 3R issues — Fahmi

KUALA LUMPUR (May 20): Here is a brief recap of some business news and corporate announcements that made the headlines on Monday:

Hubline, Public Bank, Batu Kawan, KLK, Menang Corp, Kotra, Media Chinese, FGV, Magma Binasta, Bright Packaging, Annum, Pertama 

China is committed to deepening collaboration with Malaysia across various fields including economics, cultural exchange, tourism, education, and science and technology, said Chinese ambassador to Malaysia Ouyang Yujing.

China ready to broaden partnership with Malaysia across various fields — envoy

Malaysia and the People's Republic of China have achieved significant milestones in the half-century of diplomatic relations, said Deputy Communications Minister Teo Nie Ching.

Malaysia-China diplomatic relations have achieved significant milestones, says Teo

Annum Bhd’s (KL:ANNUM) largest shareholder, Datuk Seri Chin Kok Foong, has disposed of his entire 14.83% stake in the Practice Note 17 (PN17) wood-based products manufacturer.

Annum’s largest shareholder Chin Kok Foong exits group after selling 15% stake to Ageson's Larry Liew

Iranian President Ebrahim Raisi's death in a helicopter crash upsets the plans of hardliners who wanted him to succeed Supreme Leader Ayatollah Ali Khamenei and will stir rivalries in their camp over who will take over the Islamic Republic when he dies.

Death of Iran's Raisi could stir race for Khamenei succession, say insiders 

A court in Sabah has struck out a man’s claim for RM24.92 million damages against FGV Holdings Bhd (KL:FGV) for alleged fraudulent transactions and trespass relating to land in the state held under a native title.

Court strikes out man’s RM25 mil trespassing suit against FGV

Engineering, procurement, commissioning and construction (EPCC) work has yet to begin on Toyo Ventures Holdings Bhd’s (KL:TOYOVEN) thermal power plant project in Vietnam, said Sunway Construction Group Bhd's (KL:SUNCON) stock exchange disclosure on Monday.

EPCC work yet to start on Toyo’s Song Hau power plant, says SunCon

Copper surged to its highest-ever level, extending a months-long rally driven by financial investors who’ve piled into the market in anticipation of deepening supply shortages.

Futures on the London Metal Exchange (LME) jumped more than 4%, taking copper past US$11,000 (RM51,529) a tonne for the first time, before paring some gains in afternoon trading.

Copper hits record above US$11,000 on bets of impending shortage

<p>The High Court has ordered former Mara Corp chief executive officer (CEO) Datuk Badlisyah Abdul Ghani to pay the firm RM3.4 million after finding him guilty for breach of duty during his three-month term with the company, which is the investment and commercial arm of Majlis Amanah Rakyat.</p>


Former Mara Corp CEO ordered to pay RM3.4m to company for breach of duty

<p>AS more investments continue to pour into the data centre (DC) industry, companies are looking to tap opportunities in either the DC construction, fit-out or testing and commissioning segments.</p>

<p>Notably, the artificial intelligence (AI) boom has spurred demand for digital infrastructure,...

Data centre-linked stocks gain traction on news flow

<p>A senior banker from Maybank Investment Bank Bhd, Kevin Davies, is said to be moving to smaller-sized rival RHB Investment Bank Bhd to take on the CEO role, according to at least three industry sources.</p>

<p>“The move is subject to regulatory approvals,” one of the sources tells The Edge.</p...

Maybank senior banker Kevin Davies said to be headed to RHB

<p>Maxis Bhd’s (KL:MAXIS) intention to build a second fifth-generation (5G) network could potentially put the group’s financial position and future earnings under pressure, according to analysts.</p>


Maxis' financial position could face pressure from proposed second 5G network, say analysts

<p>theedgemalaysia.com&nbsp;<wbr />highlighted one stock with positive momentum and 16 stocks with negative momentum at Bursa Malaysia's afternoon close on Monday. &nbsp;</p>


Cahya Mata Sarawak, Willowglen, Oceancash, Excel Force, Manulife, MBSB, MFM, Panasonic, ELK-Desa, Puncak Niaga, BIG Industries, Astral Asia, Niche Capital Emas, Hextar Retail, Arka, AHB, Dataprep

<p>Bumiputera-mandated agencies under the Ministry of Economy will move away from giving out ‘free money’ or grants, to focus on providing financial leverage and assistance for business expansion, its minister Rafizi Ramli said on Monday.</p>


Bumiputera agencies to move away from giving out 'free money', says Rafizi

<p>The government has decided to once again extend the freeze on foreign worker applications, according to Home Minister Datuk Seri Saifuddin Nasution Ismail.</p>


Govt extends freeze on foreign worker applications, no new quota

<p>TWO days can mean a lot in the world of high finance. The minority shareholders of Kuchai Development Bhd (KL:KUCHAI) learnt this the hard way.</p>

<p>Last Tuesday, the shareholders of Kuchai approved a transaction to dispose of all the assets and liabilities in the company to Sungei Bagan Rub...

Kuchai shareholders missed out on bonanza by a mere two days 

<p>Kuala Lumpur Kepong Bhd (KL:KLK), Malaysia’s third-largest palm oil producer by acreage, said on Monday its net profit fell 39% in the second quarter as the same quarter in the previous year was partly inflated by disposal gains.</p>


KLK, Batu Kawan post lower 2Q earnings despite improved performance by plantation segment

<p>Seafood restaurant chain Red Lobster filed for bankruptcy, succumbing to onerous leases, high labour costs and a disastrous unlimited shrimp promotion.<br />
&nbsp;<br />
The Orlando, Florida-based company filed for Chapter 11 protection on Sunday (May 19), listing assets and liabilities of US$1 billion (RM4.68 billion) to US$10 billion each in its bankruptcy petition. The filing allows the company to keep operating while it works out a plan to repay creditors.&nbsp;</p>


Red Lobster chain goes bankrupt after unlimited shrimp deal

<p>Putrajaya is expected to roll out the multi-tier levy mechanism (MTLM) for foreign workers in January next year, according to Human Resources Minister&nbsp;Steven Sim Chee Keong.</p>


Multi-tier levy on foreign workers to be implemented in January 2025, says HR minister

<p>Property development and management group Menang Corp (M) Bhd (KL:MENANG) has declared a special dividend of six sen a share as its quarterly earnings rose to a six-year high.</p>


Menang declares six sen special dividend as earnings rises to six-year high

<p>Sarawak-based shipping company Hubline Bhd disclosed to the local stock exchange that it is in talks with state-owned equity firm Ekuiti Nasional Bhd (Ekuinas) in regards to the potential acquisition of Orkim Sdn Bhd.</p>


Hubline confirms talks to acquire Ekuinas' Orkim

<p>Energy and engineering services firm Kinergy Advancement Bhd (KL:KAB) said on Monday its net profit doubled in the first quarter, thanks to new projects and entities acquired.</p>


Kinergy's 1Q net profit doubles on new projects, entities

<p>Last week was a bad one for the world order. Russia made new military advances in Ukraine, and the US slapped punitive tariffs on Chinese imports. None of that spooked stock market indices, which reached&nbsp;record highs&nbsp;on both sides of the Atlantic.</p>


Pricey stocks overlook the world’s troubles

<p>Sunway Construction Group Bhd (KL:SUNCON), or SunCon, on Monday reported a 16.4% year-on-year (y-o-y) increase in net profit for the first quarter, thanks to higher billings in newer projects.</p>


Sunway Construction posts 16% rise in 1Q net profit, eyes more advanced jobs

<p>Ehsan Bina Group has formed a partnership through a Memorandum of Understanding (MOU) with Maybank Islamic Bhd to extend a financing programme called HouzKEY to buyers of ForestHill Residences, a high-rise residential project located in Damansara Perdana, Selangor.</p>


Ehsan Bina Group partners Maybank Islamic to provide financing solution

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


EVENING 5: Five things you need to know today

<p>Palm oil player TSH Resources Bhd (KL:TSH) reported a 13% year-on-year increase in its first quarter core profit before tax (PBT) to RM34.8 million from RM30.8 million, amid lower fertiliser prices and reduced losses from joint ventures.</p>


TSH Resources reports 13% rise in core 1Q PBT to RM34.8m

<p>Electronics manufacturing services (EMS) firm Notion VTec Bhd (KL:NOTION) reported a net profit of RM14.04 million in the second quarter ended March 31, 2024 (2QFY2024), a turnaround from the net loss of RM7.77 million a year ago, driven by strong demand for the group’s EMS products.</p>
