<div class=newsTextDataWrapInner><p>HONG KONG (Nov 2): Sale of 605 million Sapura Energy Bhd shares was priced at RM1.42 apiece, the low end of a marketed range, according to terms for the deal obtained by Bloomberg.</p></div>

<div class=newsTextDataWrapInner><p>* Final price represents 12.3% discount to last close</p></div>

<div class=newsTextDataWrapInner><p>* NOTE: Khasera Baru Ltd had offered to sell 605 million shares, representing its entire Sapura Energy stake, at RM1.42 to RM1.49 apiece</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>* Investor raised $203 million from the sale, Bloomberg calculations show</p></div>

<div class=newsTextDataWrapInner><p>* CIMB was sole bookrunner</p></div>


HONG KONG (Nov 2): Sale of 605 million Sapura Energy Bhd shares was priced at RM1.42 apiece, the low end of a marketed range, according to terms for the deal obtained by Bloomberg.

* Final price represents 12.3% discount to last close

* NOTE: Khasera Baru Ltd had offered to se...

Khasera Baru sale of Sapura Energy shares priced at bottom: Terms

KUALA LUMPUR (Sept 20): The Ministry of Investment, Trade and Industry (Miti) will be focusing on addressing the financial and ecological sustainability of the Malaysian iron and steel industry, as it seeks to rechart the industry’s direction in line with the New Industrial Master Plan (NIMP) 203...

Miti to focus on financial, ecological sustainability of Malaysian iron and steel industry

(Sept 20): China-focused online casinos that boomed in the Philippines during Rodrigo Duterte’s presidency may have “deep links” to international crime syndicates, a lawmaker leading the probe on the industry said on Friday.

Philippine senator links China-centric online casinos to syndicates

Amazon.com Inc employees will soon have to schlep to the office all week, but they might have fewer boring meetings when they get there.

Chief executive officer Andy Jassy’s memo targeting corporate bloat promised a purge of “pre-meetings for the pre-meetings for the decision meetings,” which he deemed “artifacts that we’d like to change”.

Amazon is trying to kill the meeting before the meeting

(Sept 20): Jack Ma-backed Ant Group Co, Ltd (formerly known as Ant Financial). has raised US$6.5 billion (RM273.26 billion) in loans to refinance an offshore credit line of the same size, as it expands its global operations, according to people familiar with the matter.

Jack Ma-backed Ant raises US$6.5b in loans for refinancing

(Sept 20): Taiwan’s Constitutional Court upheld the legality of the death penalty but moved to limit its use, in a decision that strikes a balance between keeping the punishment’s deterrent effect and preventing its abuse.

Taiwan court limits death penalty in compromise ruling

Integrated construction and property company PTT Synergy Bhd (KL:PTT) has acquired a semi-detached factory, together with a piece of land in Sepang, from Sime Darby Property Bhd (KL:SIMEPROP) for RM11 million.

PTT Synergy snaps up RM11m Sepang factory, land from Sime Darby Property

PBA Holdings Bhd (KL:PBA) said the group is undertaking three major pipeline projects in Penang, scheduled for completion in 2025 or 2026 at a total cost of RM189 million.

PBA Holdings to complete three water pipeline projects over next two years

Vietnamese electric-vehicle maker VinFast reported a deeper second-quarter loss on Friday, driven by rising costs linked to its ambitious Asia expansion, although its revenue remained on a rising trend, according to its exchange filing.

Vietnamese EV maker VinFast reports wider sequential gross loss

Intel Corp will delay the operations of a new plant currently being built in Malaysia as the world’s largest computer chip maker grapples with declining sales and mounting quarterly losses.

Intel will delay ops of new facility being built in Penang — CEO Gelsinger

ISG Ltd, a UK construction firm that employs more than 2,000 people, is facing collapse, with the firm preparing to place much of its business into insolvency.
 
Six of the firm’s subsidiaries filed notices of intention to appoint administrators on Thursday.

UK building firm ISG faces collapse, risking thousands of jobs

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>The Malaysian government on Friday announced incentives to jumpstart the Forest City special financial zone that include special corporate income tax rates and 0% tax rate for family offices.</p>


Govt announces incentives to jumpstart Forest City special financial zone

<p>The upcoming increase in US tariffs on China-made gloves provides an opportunity for Malaysian players to increase production, said Top Glove Corp Bhd (KL:TOPGLOV) managing director Lim Cheong Guan.</p>


US tariff hike on Chinese gloves an 'opportunity' for Malaysian glove makers, says Top Glove

<p>China's crude oil imports from Malaysia surged 31% in August from a year earlier, making it the country's second-largest supplier after Russia, customs data showed, bucking a broader trend of slowing Chinese imports.</p>


Malaysia becomes China's No 2 crude oil supplier after Russia

<p>Tenaga Nasional Bhd (KL:TENAGA), or TNB, has inked an agreement with Singapore’s Keppel Electric Pte Ltd to supply up to 100MW of electricity to the island-state.</p>


TNB signs agreement to supply another 100MW electricity to Singapore

<p>Malaysia Aviation Group (MAG) announced on Friday the resignation of its group chairman Tan Sri Wan Zulkiflee Wan Ariffin effective immediately.</p>


Wan Zulkiflee retires as Malaysia Airlines chairman, confirms The Edge report

<p>KUALA LUMPUR (Sept 20): RHB Research has maintained its “overweight” call on the Malaysian property sector, forecasting strong capital inflows and renewed buying interest as global interest rates begin to decline.</p>


Rate cuts to see more capital flow into Malaysian property sector, says RHB

<p>KUALA LUMPUR (Sept 20): Eplas Global Bhd, which sells houseware products, filed for an initial public offering (IPO) on the ACE Market to raise funds to set up manufacturing operations.</p>


Eplas Global files for ACE Market IPO to raise funds to start manufacturing ops

<p>Malaysia's largest fintech company TNG Digital is looking at a potential domestic initial public offering over the next two to three years that could raise over US$300 million (RM1.26 billion), two sources with knowledge of the matter said.</p>


TNG Digital eyes Malaysian IPO in next two to three years — Reuters

<p>PUCHONG (Sept 20): All projects, trips and tasks abroad involving government ministries, companies and agencies must be referred to their respective ministry secretaries general and department heads and approved by the ministers, said Datuk Seri Anwar Ibrahim.</p>

<p>The prime minister said th...

Anwar: Ministerial approval required for all overseas travel involving govt personnel

<p>KUALA LUMPUR (Sept 20): Lim Guan Eng’s lawyers informed the Sessions Court in his Penang undersea tunnel graft trial that Lim suspected there had been intimidation attempts by the authorities on other parties, which seemed to want to implicate the former Penang chief minister.</p>


Court informed of report lodged by Guan Eng on possible intimidation

<p>The euphoria in equity markets following the Federal Reserve’s interest-rate cut is stoking the risk of a bubble, making bonds and gold an attractive hedge against any recession or renewed inflation, according to Bank of America Corp’s Michael Hartnett.</p>


Buy bonds and gold as bubble risk returns — BofA strategist Hartnett

<p>The key witness in Lim Guan Eng’s undersea tunnel trial on Friday told the Sessions Court that the former Penang chief minister agreed on businessman G Gnanaraja being chosen as an intermediary for the politician to receive purported bribe money for the project.</p>

<p>Consortium Zenith Construction Sdn Bhd director Datuk Zarul Ahmad Mohd Zulkifli said when he got the go-ahead from Lim on Aug 17, 2017, he related the matter to Gnanaraja via a WhatsApp call, and the businessman, via a Whatsapp message, replied, “fantastic Penang CM done”.</p>


Witness claims Lim was agreeable to Gnanaraja being used as intermediary

<p>Glovemaker Top Glove Corp Bhd (KL:TOPGLOV) said it is looking at further raising its water recycling capacity by 50% by 2025, from 2024 levels, as part of its active efforts on conservation of natural resources.</p>


Top Glove first to comply with Selangor’s new water management zero discharge policy regulation, to expand water recycling capacity

<p>Sime Darby Property Bhd (KL:SIMEPROP) has topped out its transit-oriented development Serasi Residences at Putra Heights Sentral on Sept 9, according to a press statement on Sept 20.</p>


Sime Darby Property tops out transit-oriented development Serasi Residences at Putra Heights Sentral

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


FBM KLCI up 0.19% to 1,668.82 on Sept 20, 2024

<p>Malaysia’s automotive market is expected to see “business as usual” for the affordable segment, while the mid-market segment could be dragged by the roll-out of e-invoicing and potential fuel subsidy rationalisation, said Kenanga Research.</p>


Malaysia auto sales to M40 group could drag, says Kenanga Research

<p>The Sessions Court in Shah Alam has granted a winding-up petition to a creditor of defunct airline MyAirline Sdn Bhd for non-payment of more than RM241,000 owed.</p>


Court gives nod to travel company’s petition to wind up defunct MyAirline 

<p>&nbsp;European auto stocks are so unpopular right now that investors keep reducing their exposure even as the scale of the industry's problems has driven valuations close to record lows, which would normally be a big incentive for would-be buyers.</p>


Investors shun European car stocks despite rock bottom valuations

<p>Malaysia's domestic tourism sector continued its strong resurgence in the second quarter of this year, with 68.4 million visitors, up 23.8% from the same period last year, according to the Department of Statistics Malaysia (DOSM).</p>
