<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 14): Evergreen Offshore Inc, a Hong Kong-based private equity firm, has launched a private equity fund of RM1 billion into the Malaysian tourism sector within a 5- to ten-year period.</p></div>

<div class=newsTextDataWrapInner><p>The allocation of RM1 billion is 20% of the RM5 billion private equity fund, Asia Pacific One Belt One Road Tourism Industry Fund.</p></div>

<div class=newsTextDataWrapInner><p>Evergreen Group chairman Davy Chan pointed out that the remaining RM4 billion will be allocated to Thailand and Vietnam, adding that the allocation of this fund is open ended.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>"Evergreen may also increase the allocation fund to Malaysia depending on its performance," said Chan.</p></div>

<div class=newsTextDataWrapInner><p>Chan also mentioned that the funds will be used not only on property development projects but also on projects that will help grow and develop the tourism industry, such as the infrastructure, transportation and IT sectors as well as any other sectors.</p></div>

<div class=newsTextDataWrapInner><p>Chan also said he expects a minimum return of 8% per annum during the five-year period.</p></div>

<div class=newsTextDataWrapInner><p>Evergreen will be signing a memorandum of understanding with five potential investees tomorrow.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;</p></div>


KUALA LUMPUR (Oct 14): Evergreen Offshore Inc, a Hong Kong-based private equity firm, has launched a private equity fund of RM1 billion into the Malaysian tourism sector within a 5- to ten-year period.

The allocation of RM1 billion is 20% of the RM5 billion private equity fund, Asia Pac...

HK firm launches RM1b PE fund into Malaysia

Gateway Development Alliance (GDA), the consortium proposing to privatise Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT), said it is maintaining its offer of RM11 per share, after the airport operator’s independent directors reommended shareholders to reject the offer.

GDA maintains RM11 offer for MAHB, challenges independent directors’ rejection

(Dec 20): It’s been a challenging couple of years for real estate stocks since the Federal Reserve started raising interest rates in 2022, as borrowing costs soared and the property market collapsed. And despite a healthy rebound in the middle of 2024, the outlook for 2025 isn’t particularly...

Office rebound expected in 2025 while other real estate stocks to see trouble

ECA Integrated Solution Bhd (KL:ECA) has proposed to expand its presence in China by investing in automated equipment manufacturer Suzhou Thryda Co Ltd (Thryda).

ECA Integrated invests in automated equipment manufacturer to expand presence in China

The S&P 500 and the Nasdaq dipped on Friday as fears over high interest rates next year loomed, although a cooler-than-expected inflation report kept losses in check.

S&P 500, Nasdaq dip as rate cut fears linger despite easing inflation

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

MAHB, Top Glove, Catcha Digital, Johor Plantations, Kawan Renergy, Mega First, PLB Engineering, Bahvest, Smile-Link 

The workers' union representing over 10,000 baristas at Starbucks said its members will strike at stores in Los Angeles, Chicago, and Seattle for five days starting Friday, citing unresolved issues over wages, staffing and schedules.

Starbucks workers' union set to strike in US cities as bargaining talks hit impasse

A Madrid court has sentenced former International Monetary Fund chief Rodrigo Rato to almost five years in prison for various crimes related to corruption, the court said on Friday.

Ex-IMF chief Rato sentenced to new prison term over corruption

Auditing firm HLB Ler Lum Chew said on Friday that a special notice for a resolution to remove the firm as the external auditor of Smile-Link Healthcare Global Bhd (KL:SMILE) had been immediately retracted, and that is the reason why the firm had not made any written representation on the matter

Smile-Link's auditor says removal notice retracted, threatens legal action over ‘untrue’ statement

The US$10.4 trillion (RM46.82 trillion) US exchange-traded fund (ETF) industry’s blockbuster year comes with an asterisk: even amid record inflows and launches, funds are shuttering at a nearly unprecedented clip.

Twin boom-and-bust hits US$10 tril ETF industry in overdrive

US consumer spending increased in November, underscoring the economy's enduring strength, which prompted the Federal Reserve this week to project fewer interest rate cuts in 2025 than it had three months ago.

US consumer spending rises in November; monthly inflation subsides 

<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.</p>


<p>Bursa Malaysia (KL:BURSA) saw a total of 55 initial public offerings (IPOs) this year, &nbsp;up 72% from the 32 IPOs listed last year.</p>


Bursa wraps up 2024 with 55 IPO listings, highest in nearly two decades

<p>Auditing firm HLB Ler Lum Chew said on Friday that a special notice for a resolution to remove the firm as the external auditor of Smile-Link Healthcare Global Bhd (KL:SMILE) had been immediately retracted, and that is the reason why the firm had not made any written representation on the matter</p>


<p>Gateway Development Alliance (GDA), the consortium proposing to privatise Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT), said it is maintaining its offer of RM11 per share, after&nbsp;the airport operator’s independent directors reommended shareholders to reject the offer.</p>


<p>PLB Engineering Bhd’s (KL:PLB) external auditors, Grant Thornton Malaysia PLT, have expressed an unmodified audit opinion with material uncertainty regarding the group's ability to continue as a going concern.</p>


PLB Engineering’s auditor flags material uncertainty over group’s ability to continue as going concern

<p>ACE Market-listed Kawan Renergy Bhd (KL:KENERGY) reported an all-time high earnings for its financial year ended Oct 31, 2024 (FY2024) as full year net profit surged 44.5% to an all-time high of RM19.22 million, compared with RM13.3 million in FY2023.</p>


Kawan Renergy posts all-time high earnings in FY2024 

<p>Bahvest Resources Bhd (KL:BAHVEST) has proposed to buy mining equipment from China-based Chengdu Mining Maintenance Technology Co Ltd for RM22.82 million, to be used to build a new gold mining processing plant.</p>


Bahvest buys mining equipment from Chinese firm to build new plant

<p>Prime Minister Datuk Seri Anwar Ibrahim on Friday firmly stated that he did not interfere with the court's decision to acquit and discharge Datin Seri Rosmah Mansor from charges related to money laundering and tax evasion.</p>


Anwar asserts had no hand in Rosmah’s acquittal

<p>The Galen Centre for Health and Social Policy says urgent reforms are needed to address the root causes of healthcare inflation in Malaysia.</p>

<p>While it welcomed the interim measures that Bank Negara Malaysia (BNM) just announced to address the burden of rising medical insurance premiums on policyholders, it cautioned that the measures provide only temporary relief.</p>


Galen Centre: Insurance premium relief not enough, urgent healthcare reforms needed

<p>ECA Integrated Solution Bhd (KL:ECA) has proposed to expand its presence in China by investing in automated equipment manufacturer Suzhou Thryda Co Ltd (Thryda).</p>


<p>The S&amp;P 500 and the Nasdaq dipped on Friday as fears over high interest rates next year loomed, although a cooler-than-expected inflation report kept losses in check.</p>


<p>(Dec 20):&nbsp;It’s been a challenging couple of years for real estate stocks since the Federal Reserve started raising interest rates in 2022, as borrowing costs soared and the property market collapsed. And despite a healthy rebound in the middle of 2024, the outlook for 2025 isn’t particularly...

<p>A Madrid court has sentenced former International Monetary Fund chief Rodrigo Rato to almost five years in prison for various crimes related to corruption, the court said on Friday.</p>


<p>The US$10.4 trillion (RM46.82 trillion) US exchange-traded fund (ETF) industry’s blockbuster year comes with an asterisk: even amid record inflows and launches, funds are shuttering at a nearly unprecedented clip.&nbsp;</p>


<p>US billionaire Elon Musk, set to join President-elect Donald Trump's administration as an outside adviser, waded into Germany's election campaign on Friday, calling the far-right Alternative for Germany (AfD) the country's saviour.</p>


Elon Musk gives nod to German far-right party as election looms

<p>The workers' union representing over 10,000 baristas at Starbucks said its members will strike at stores in Los Angeles, Chicago, and Seattle for five days starting Friday, citing unresolved issues over wages, staffing and schedules.</p>


<p><strong>A weekly round-up of tanker and dry bulk market (Dec 20, 2024)</strong></p>


Baltic Exchange shipping updates: Dec 20, 2024

<p>US consumer spending increased in November, underscoring the economy's enduring strength, which prompted the Federal Reserve this week to project fewer interest rate cuts in 2025 than it had three months ago.</p>


<p>Brazilian markets bounced at the end of the week amid extraordinary central bank moves to curb a selloff in the currency that was spreading across the nation’s markets.<br />
&nbsp;<br />
The real gained as much as 1.4% on Friday, paring weekly losses, after policymakers said they would step in again with both a spot sale and a credit line auction totalling a combined US$7 billion (RM31.51 billion).&nbsp;</p>


Brazil’s central bank burns US$17 bil in reserves to prop up real

<p>Canadian shoppers ended their spending spree in November after a four-month streak of strong gains.</p>

<p>An advanced estimate suggests receipts for retailers were unchanged last month, following a 0.6% gain in October, Statistics Canada said on Friday.</p>
