<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 24): Hextar Global Bhd has inked a distributor agreement with Sumitomo Chemical Vietnam Co Ltd (SCV) for the latter to exclusively distribute Hextar’s Hallmark 150 SL herbicide in Vietnam.</p></div>

<div class=newsTextDataWrapInner><p>In a filing, the company said that the product is a herbicide that is used in the controlling of weeds in rubber plantations.</p></div>

<div class=newsTextDataWrapInner><p>It said the contract is for five years effective Oct 24, 2019, with an optional extension for another one year, with an estimated value of RM15 million over the period.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Sumitomo Chemical Asia Pte Ltd, based in Singapore, has been our long-term regional strategic partner and we have been mutually working closely together to distribute each party brand products bilaterally while exploring possibilities to support formulation and manufacturing of agrochemicals.</p></div>

<div class=newsTextDataWrapInner><p>“It would be a great pleasure for SCV to distribute Hextar’s product in Vietnam and certainly Hextar has established itself as a well-known regional player in the agrochemical industry,” said Hextar executive director Datuk Eddie Ong Choo Meng.</p></div>

<div class=newsTextDataWrapInner><p>SCV is a subsidiary of Sumitomo Chemical Asia, which in turn is a unit of Japan-based Sumitomo Chemical Co Ltd, a leading chemical company.</p></div>

<div class=newsTextDataWrapInner><p>Hextar fell 2.5 sen or 3.6% to 67 sen, giving it a market capitalisation of RM549.86 million.</p></div>


Hextar Global Bhd has inked a distributor agreement with Sumitomo Chemical Vietnam Co Ltd (SCV) for the latter to exclusively distribute Hextar’s Hallmark 150 SL herbicide in Vietnam.

In a filing, the company said that the product is a herbicide that is used in the controlling of weeds in rubber plantations

Hextar signs five-year agreement for distribution of its herbicide in Vietnam

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

FGV, Sapura Resources, Bursa Malaysia, BAT Malaysia, SunCon, Duopharma, Haily, MN Holdings, Deleum, YTL Power

Cypark Resources Bhd’s (KL:CYPARK) third cycle of large scale solar (LSS3) photovoltaic plant of 100 megawatt (MW) in Merchang, Terengganu, was given an extension of time (EOT) which involves the revision of the period of power purchase agreement (PPA).

Cypark gets PPA revision for LSS3 project

The European Union is set to launch an investigation into Temu over concerns it is failing to curb the sale of illegal products online, in a probe that could lead to hefty fines for the e-commerce service.

Temu to face EU probe over handling of illegal product sales

Prada SpA defied a luxury industry slump last quarter as fashion fans snapped up Miu Miu’s Arcadie handbags and cashmere cardigans.

Comparable retail sales at the Italian group grew 18% in the third quarter, the Hong Kong-listed company said on Wednesday.

Prada outpaces fashion rivals on Miu Miu’s Gen Z appeal

China Vanke Co posted another massive loss in the third quarter (3Q), underscoring the pressure on the property developer as it tries to pay off debt amid the country’s prolonged housing slump. 

Shenzhen-based Vanke reported a net loss of 8.1 billion yuan (RM4.96 billion), bringing its combined losses for the first nine months of the year to 17.9 billion yuan, according to a statement to the Hong Kong exchange on Wednesday.

Vanke reports US$2.5 bil loss in 3Q amid China housing slowdown

Ireka Corp Bhd (KL:IREKA), a Practice Note 17 (PN17) construction company, said its external auditor has expressed a disclaimer of opinion on the company’s audited financial statements for the financial year ended June 30, 2024 (FY2024).

Ireka Corp’s auditor expresses disclaimer of opinion on FY2024 financial statement 

US stock indexes were muted on Wednesday as investors assessed mixed corporate results as well as crucial data showing the economy maintained a steady pace of growth in the third quarter.

Wall Street tepid as investors weigh earnings, GDP data; Alphabet jumps

Bintai Kinden Corp Bhd (KL:BINTAI) said Universiti Islam Melaka Bhd (UIMB) has committed to a structured repayment plan amounting to RM13.5 million to be paid to the former's wholly owned subsidiary Optimal Property Management Sdn Bhd (OPM) under an extended interim settlement proposal (EISP) agreement.

Bintai Kinden reaches pact with Universiti Islam Melaka on RM13.5 mil outstanding payment

Datuk Shahriman Shamsuddin, managing director of property and aviation outfit Sapura Resources Bhd (KL:SAPRES), has tendered his resignation with immediate effect, having been put on garden leave for nearly two months.

Shahriman quits Sapura Resources after two months' leave of absence

US pending home sales saw their biggest gain in more than four years in September, as buyers took advantage of the combination of lower mortgage rates in late summer and more inventory choices.

An index of contract signings for existing homes climbed 7.4% to 75.8 last month, marking the strongest increase since June 2020, according to data released on Wednesday by the National Association of Realtors (NAR).

US pending home sales gain most since summer 2020

<p>(Oct 30): Malaysia’s currency is on course for its worst month in more than nine years, as investors scale back on risk assets amid concerns over the US election.</p>


Ringgit set for biggest monthly decline since 2015 — analysts

<p>Below is the summary of key findings at the end of the prosecution’s case, written by trial judge Datuk Collin Lawrence Sequerah, and upon which, among others, he based his decision on Wednesday to call for the accused, former prime minister Datuk Seri Najib Razak, to enter his defence for four abuse of power and 21 money-laundering charges, for allegedly receiving gratifications worth RM2.27 billion in the 1Malaysia Development Bhd-Tanore (1MDB-Tanore) trial.</p>


1MDB-Tanore: Judge’s summary of key findings that led to decision to call the defence

<p>TOWARDS the end of the European trading day on Oct 15, Dutch chip equipment giant ASML Holding NV, which has a monopoly on making machines and tools for manufacturing the most advanced chips, like those used to train large language artificial intelligence (AI) models, inadvertently revealed its t...

Tech: Chip equipment giant ASML poised to bounce back 

<p>FGV Holdings Bhd (KL:FGV) has appointed Fakhrunniam Othman as group chief executive officer (CEO) of the plantation group effective Nov 1.</p>


FGV names Fakhrunniam Othman as new group CEO

<p>The West Ipoh Span Expressway, to span 60.88km from Gopeng to Kuala Kangsar, is now estimated to cost RM6.2 billion instead of RM5.75 billion, according to the project's concessionaire, East Coast Road Sdn Bhd (ECRSB).</p>


West Ipoh Span Expressway now estimated to cost RM6.2 bil, says concessionaire

<p>KUALA LUMPUR (Oct 30): YTL Power International Bhd (KL:YTLPOWR) is “seeking legal advice regarding potential steps” against unnamed parties that it said are spreading accusations of misconduct by the company in the 1Bestarinet project currently under investigations.</p>


YTL Power mulls action over 1Bestarinet ‘accusations by irresponsible parties’, says ‘committed to transparency’ in MACC probe

<p>Prominent lawyer Tan Sri Muhammad Shafee Abdullah claimed that his client Datuk Seri Najib Razak’s public apology last week for the 1Malaysia Development Bhd (1MDB) debacle had been purposely misinterpreted by certain political quarters.</p>

<p>Speaking at a press conference at the Duta Court Complex here, Shafee said that politicians on “the other side” had misinterpreted Najib’s apology. He clarified that the former PM had only apologised for the 1MDB debacle happening during his tenure, and nothing else.</p>


Shafee: Najib’s apology deliberately misinterpreted by politicians

<p>Clean energy specialist Solarvest Holdings Bhd (KL:SLVEST) said its 70%-owned subsidiary Setia Kawan Energy Sdn Bhd (SKESB) has been approved by Tenaga Nasional Bhd (TNB) (KL:TENAGA) to operate as a merchant generator to sell energy to the single buyer for a capacity of 29.99 megawatt (MW) to be located in Manjung, Perak.</p>


Solarvest's 70%-owned unit to operate as merchant generator under Neda

<p>KUALA LUMPUR (Oct 30): The High Court on Wednesday reinstated the legal action by Cekap Urus Sdn Bhd against Spanco Sdn Bhd and the government, over the government fleet car project.</p>


Vincent Tan-controlled Cekap Urus resumes action against govt and Spanco over fleet car project

<p>KUALA LUMPUR (Oct 30): British American Tobacco (Malaysia) Bhd (BAT Malaysia)(KL:BAT) posted a 14.1% rise in its net profit for the third quarter ended Sept 30, 2024 (3QFY2024), as its operating expenses were significantly reduced by 28.9% year-on-year (y-o-y), given the group’s substantial investment in the launch of its vaping brand, Vuse, in Malaysia last year.</p>


BAT Malaysia’s 3Q net profit up 14%, pays 22 sen dividend

<p>There is ultimately no motive for the prosecution witnesses in the 1MDB-Tanore trial to frame Datuk Seri Najib Razak, who was at the time wielding enormous powers as prime minister and finance minister, said the High Court judge who ordered Najib to enter his defence against the abuse of power and money laundering charges he faces in the case.</p>


No motive for witnesses to frame Najib as it would be tantamount to suicide given his powers then, says judge

<p>KUALA LUMPUR (Oct 30): Shares of Unisem (M) Bhd (KL:UNISEM) fell on Wednesday, while analysts slashed their earnings forecasts, following weaker-than-expected quarterly results.&nbsp;</p>


Unisem shares fall, analysts slash estimates after underperforming 3Q

<p>AME Elite Consortium Bhd (KL:AME) is working together with Kuala Lumpur Kepong Bhd (KL:KLK) in a joint venture (JV) to develop a new industrial park in Ijok, Selangor.&nbsp;</p>

<p>The collaboration marks KLK’s inaugural venture into industrial property development and represents an expansion for AME Elite outside of Johor and Penang, where it is a major industrial property developer. &nbsp;</p>


AME Elite, KLK to jointly develop industrial park in Ijok

<p>KUALA LUMPUR (OCT 30): The origin of the letters that Datuk Seri Najib Razak claimed were proof that the monies that made their way into his private accounts were donations from Arab royalties is 'questionable', says the trial judge who on Wednesday ordered that Najib enter his defence in the 1MD...

Origin of Najib's Arab donation letters 'questionable', says 1MDB-Tanore trial judge

<p>Datuk Shahriman Shamsuddin, managing director of property and aviation outfit Sapura Resources Bhd (KL:SAPRES), has tendered his resignation with immediate effect, having been put on garden leave for nearly two months.</p>


<p>The initial public offering (IPO) of security seals manufacturer Mega Fortris Bhd, involving 42.25 million shares offered to the Malaysian public, has been oversubscribed by 7.18 times.</p>


Mega Fortris’ 42.25 mil IPO shares for public oversubscribed by 7.18 times

<p>Despite his defence’s allegations of the involvement of others with regard to the decision making process in state strategic development company 1Malaysia Development Berhad (1MDB), and despite at the time being the prime minister, finance minister, and 1MDB’s sole shareholder, Datuk Seri Najib Razak failed to lodge any police report over the 1MDB scandal when it was uncovered following media reports in 2015.</p>


1MDB-Tanore: Najib the ultimate decision maker, but failed to make any police report

<p>YBS International Bhd (KL:YBS) said that it has amended several key terms in the agreement with Nasdaq-listed Enovix Corp on the manufacturing of batteries for the latter.</p>

<p>According to the bourse filing, the amendments were related to the assignment and obligation of purchase related to the Gen2 Autoline 1 which is housed by YBS in the Penang Science Park.</p>


US-listed Enovix to now fully fork out US$100 mil investment in battery manufacturing deal with YBS

<p>KUALA LUMPUR (Oct 30): Sunway Construction Group Bhd (KL:SUNCON) has been awarded additional tenant improvement works (TIWs) for its data centre construction project at the Sedenak Tech Park (STeP) in Johor for RM347 million.</p>

<p>Based on SunCon’s bourse filing on Wednesday, the contract wa...

SunCon wins additional RM347m data centre works in Johor 

<p>KUALA LUMPUR (Oct 30): Duopharma Biotech Bhd (KL:DPHARMA) has secured five additional supply contracts from Pharmaniaga Bhd (KL:PHARMA), totalling RM87.66 million, to provide 10 pharmaceutical and non-pharmaceutical products to government offices and facilities that Pharmaniaga operates.</p>
