<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on July 27, 2017 - August 2, 2017</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: LBS Bina Group Bhd is buying eight acres (3.24ha) of leasehold land in Seri Kembangan, Selangor for RM63 million for a mixed development worth an estimated gross development value (GDV) of RM600 million.</p></div>

<div class=newsTextDataWrapInner><p>The group plans to develop four towers of serviced apartments with about 1,323 residential units on the land it is buying from Stratmont Development Sdn Bhd, with the GDV expected to be realised over eight years.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The residential units would be priced at an affordable range targeted for first-time homebuyers, working professionals and young families,” LBS Bina said in a filing with Bursa Malaysia yesterday.</p></div>

<div class=newsTextDataWrapInner><p>It expects work to start in 2018 with the project developed over an eight-year period.<br />
&nbsp;</p></div>


KUALA LUMPUR: LBS Bina Group Bhd is buying eight acres (3.24ha) of leasehold land in Seri Kembangan, Selangor for RM63 million for a mixed development worth an estimated gross development value (GDV) of RM600 million.

The group plans to develop four towers of serviced apartments with ab...

LBS Bina buys Seri Kembangan plot for RM63m

Genting Bhd (KL:GENTING) and Genting Malaysia Bhd (KL:GENM) are likely to be removed from the 30-stock FTSE Bursa Malaysia (FBM) KLCI in the latest review of the benchmark index that will be announced on Thursday, according to sources.

Genting, Genting Malaysia to be dropped from FBM KLCI — sources

Retailer Eco-Shop Marketing Bhd, which operates 320 discount stores nationwide, is planning to float its shares on the Main Market of Bursa Malaysia to raise funds for business expansion, according to its draft prospectus filed with the Securities Commission Malaysia.

Creador-backed discount store retailer Eco-Shop eyes Main Market listing, plans to float 862 mil shares

Global equities were set to climb higher as bullish comments from Jerome Powell supported risk assets. Currency traders remained on edge as the French government fell after a no-confidence vote.

Shares in Australia and equity futures in Japan rose, while contracts for Hong Kong were slightly lower.

Global stocks rise to record on Powell, bonds gain

The South Korean won rebounded on Wednesday, posting the sharpest gains among emerging-market currencies, after President Yoon Suk Yeol rapidly reversed his martial law declaration. Traders were waiting on Federal Reserve Chair Jerome Powell’s remarks for clues on where US interest rates are headed.

South Korea won outperforms emerging peers before Powell remarks

Stocks hit all-time highs as Federal Reserve Chair Jerome Powell said the economy is in remarkably good shape. The euro wavered as the French government fell after a no-confidence vote in Parliament.

A rally in big tech drove the S&P 500 to its 56th closing record in 2024. The Nasdaq 100 climbed more than 1%. Nvidia Corp.

Stocks hit record as Powell bullish on US economy

US services activity expanded in November at the slowest pace in three months as demand and employment growth settled back, indicating the largest part of the economy is losing momentum.

US services activity expands at slowest pace in three months 

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

Capital A, Superlon, Focus Dynamics, Uzma, UEM Sunrise, Mulpha, Central Global, Apollo Food, TMC Life Sciences, Sentoria, Binasat

Wall Street's main indexes climbed on Wednesday, with the S&P 500 and the Nasdaq touching record highs propelled by gains in technology stocks, while investors awaited comments from Federal Reserve chair Jerome Powell later in the day.

Tech rally drives S&P 500, Nasdaq to record highs; Powell comments in focus

Binasat Communications Bhd (KL:BINACOM) has proposed to undertake a private placement to finance the acquisition of several properties.

Binasat plans private placement to finance property acquisitions

AstraZeneca plc has appointed Iskra Reic as executive vice-president of its international business, replacing Leon Wang who is under investigation by Chinese authorities.

AstraZeneca veteran replaces detained China executive Leon Wang

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


<p>Cash-rich Apollo Food Holdings Bhd’s (KL:APOLLO) net profit grew 6.7% year-on-year for the second quarter, supported by higher domestic and export sales.</p>


Apollo Food declares 30 sen dividend; net profit up 6.7% in 2QFY2025 

<p>After nearly two decades on the run, a Singaporean tycoon involved in a US$51 million (RM227 million) misappropriation case was finally arrested with his wife in Johor on Tuesday.</p>


MACC helped nab Singapore tycoon after 19-year manhunt, says Azam Baki

<p>One of the partners at Zaid Ibrahim, Suflan TH Liew and Partners (ZIST) has related how difficult it was for the firm to work with Messrs Shafee &amp; Co when dealing with Datuk Seri Najib Razak’s final appeal in the SRC International Sdn Bhd case at the Federal Court two years ago, including problems with obtaining the full documentation needed to prepare for Najib's appeal.</p>


Lawyer relates how difficult it was to get documents from Shafee & Co to mount Najib's final appeal  

<p>Sentoria Group Bhd (KL:SNTORIA) said it has triggered Bursa Malaysia's Practice Note 17 (PN17) criteria after its shareholders’ equity fell to 33% of its issued and paid-up capital, based on its just released financial statement for the year ended Sept 30, 2024 (FY2024).</p>


Sentoria triggers PN17 critera

<p>Wall Street's main indexes climbed on Wednesday, with the S&amp;P 500 and the Nasdaq touching record highs propelled by gains in technology stocks, while investors awaited comments from Federal Reserve chair Jerome Powell later in the day.</p>


<p>Genting Bhd (KL:GENTING) and Genting Malaysia Bhd (KL:GENM) are likely to be removed from the 30-stock FTSE Bursa Malaysia (FBM) KLCI in the latest review of the benchmark index that will be announced on Thursday, according to sources.</p>


<p>The 11th Malaysia-Singapore Leaders' Retreat, scheduled for Dec 8 to Dec 9 in Malaysia, has been postponed after Singapore Prime Minister Lawrence Wong tested positive for Covid-19 on Tuesday.</p>


Malaysia-Singapore Retreat postponed as Singapore PM contracts Covid-19

<p>Binasat Communications Bhd (KL:BINACOM) has proposed to undertake a private placement to finance the acquisition of several properties.</p>


<p>The Dewan Rakyat on Wednesday approved the Commercial Vehicles Licensing Board (Amendment) 2024 Bill, which, among others, introduces the legal basis to address the issue of illegal or unauthorised bus ticket sales in Sabah, Sarawak and Labuan.</p>


Dewan Rakyat passes Commercial Vehicles Licensing Board (Amendment) 2024 Bill

<p>Retailer Eco-Shop Marketing Bhd, which operates 320 discount stores nationwide, is planning to float its shares on the Main Market of Bursa Malaysia to raise funds for business expansion, according to its draft prospectus filed with the Securities Commission Malaysia.</p>


<p>A consultant dubbed “Mr Non Compliant”, because he allegedly controlled the flow of bribes at the heart of Trafigura’s trial, believed he was “one of the family”, according to a document shared with the court.</p>


'Mr Non Compliant’ believed he was part of Trafigura ‘family,’ Swiss court hears

<p>AstraZeneca plc has appointed Iskra Reic as executive vice-president of its international business, replacing Leon Wang who is under investigation by Chinese authorities.&nbsp;</p>


<p>Brian Thompson, the CEO of UnitedHealth's insurance unit, was fatally shot in the chest on Wednesday morning outside the Hilton hotel in midtown Manhattan, the <i>NY Post</i> and <i>Bloomberg</i> reported, citing police sources.</p>


UnitedHealthcare executive fatally shot in Manhattan, reports say

<p>On Nov 18, hours after two communication cables were severed in the Baltic Sea, 30 Nato vessels and 4,000 military staff took to the same body of water for one of northern Europe's largest naval exercises.</p>


As sabotage allegations swirl, Nato struggles to secure Baltic Sea

<p>Stocks hit all-time highs as Federal Reserve Chair Jerome Powell said the economy is in remarkably good shape. The euro wavered as the French government fell after a no-confidence vote in Parliament.</p>

<p>A rally in big tech drove the S&amp;P 500 to its 56th closing record in 2024. The Nasdaq 100 climbed more than 1%. Nvidia Corp.</p>


<p>Foot Locker Inc’s shares sank after the sneaker chain cut its full-year sales and profit forecasts, citing more discounts and a pullback in consumer spending ahead of the crucial holiday season.</p>


Foot Locker tumbles after sales weakness led to outlook cut

<p>General Motors GM told shareholders on Wednesday that it would record two non-cash charges totalling more than US$5 billion (RM22.2 billion) on its joint venture in China, one related to the restructuring of the operation and another reflecting its reduced value.</p>


GM to take more than US$5b in charges on China operations

<p>Eurozone economic growth could be weaker in the months ahead and the medium term outlook is uncertain with downside risks dominating, European Central Bank president Christine Lagarde said in a parliamentary hearing on Wednesday.</p>


ECB's Lagarde sees weak growth, dominated by downside risks

<p>A consortium seeking to buy out Hong Kong-listed ESR Group Ltd has submitted a binding offer for the logistics real estate firm, a move that would bring the months-long takeover pursuit one step closer to an end.</p>
