<div class=newsTextDataWrapInner><p>SINGAPORE (Aug 6): Fraser and Neave (F&amp;N) says the Myanma Economic Holdings Ltd (MEHL) has confirmed that the sale of F&amp;N's 55 per cent stake in Myanmar Brewery Limited shall be completed at US$560 million, ($830 million) and the originating summons will be withdrawn by MEHL.</p></div>

<div class=newsTextDataWrapInner><p>This value is based on the exchange rate between the Myanmar kyat and the U.S. dollar on April 30, 2013.</p></div>

<div class=newsTextDataWrapInner><p>On July 29, MEHL had filed an originating summons in the Singapore High Court, requesting that F&amp;N complete the transfer of its stake in Myanmar Brewery to MEHL or its nominee by Aug 20 for 500 billion kyat or the equivalent value in US dollars as at the day before completion. MEHL's desired exchange rate would yield close to US$400 million,&nbsp; but F&amp;N reckoned that the stake sale should be valued at US$560 million based on the 2013 exchange rate applied by the valuer.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>On July 31, the Singapore High Court had dismissed with costs an interim injunction on MEHL's application.</p></div>


SINGAPORE (Aug 6): Fraser and Neave (F&N) says the Myanma Economic Holdings Ltd (MEHL) has confirmed that the sale of F&N's 55 per cent stake in Myanmar Brewery Limited shall be completed at US$560 million, ($830 million) and the originating summons will be withdrawn by MEHL.

Th...

MEHL confirms sale of F&N's 55% stake in Myanmar Brewery for US$560 mil: F&N

Pakatan Harapan (PH) component parties must respect the coalition's decision to hand the Bemban state seat to a Bersatu candidate in the Melaka state election, says PH election director Datuk Seri Amirudin Shari.

Melaka polls: PH component parties must respect decision on Bemban seat allocation — Amirudin

The extension of the West Coast Expressway (WCE) from Banting, Selangor, to Masjid Tanah was among the matters discussed by the Cabinet, said Deputy Prime Minister Datuk Seri Dr Ahmad Zahid Hamidi.

WCE expected to be extended from Banting to Masjid Tanah — Ahmad Zahid

Wall Street's main stock indices advanced on Tuesday as optimism around the artificial intelligence (AI) trade persisted ahead of a raft of key corporate earnings, while easing oil prices also supported risk appetite heading into the Federal Reserve's policy decision this week.

Wall St rises as AI momentum holds heading into key earnings, Fed decision

Discussions between Melaka Barisan Nasional (BN) chairman Datuk Seri Ab Rauf Yusoh and MCA president Datuk Seri Dr Wee Ka Siong is believed to have successfully resolved several deadlocks regarding seat distribution for the Melaka state election (PRN) next month.

Several deadlocks in seat distribution with MCA resolved — AB Rauf

JetBlue Airways Corp reassured Wall Street that it’ll be profitable next year, as the debt-laden carrier seeks to overcome persistent losses and high oil prices to prevent a deeper restructuring.

JetBlue shares soar after it vows to return to profitability

A Brazilian Supreme Court justice ordered federal police to open a probe into possible illegal foreign financing of defeated candidate Flávio Bolsonaro’s presidential campaign, including by a group linked to US Vice President JD Vance.

Brazil probes foreign financing, including group linked to Vance

Israelis surged to the polls on Tuesday at a pace that shattered records, to pass wartime judgment on Prime Minister Benjamin Netanyahu in what voters described as the most consequential election in the nation's history.

Israelis shatter turnout records to pass wartime judgment on Netanyahu

Asean Special Envoy to Myanmar Maria Theresa Lazaro is expected to visit Naypyidaw, Myanmar from Oct 28 to 29 to seek progress on efforts by the country to address its political crisis ahead of the 49th Asean Summit.

Asean special envoy to visit Myanmar ahead of summit 

Here is a brief recap of some business news and corporate announcements that made headlines on Tuesday:

Zetrix AI, AirAsia, CIMB, SD Guthrie, Nestle Malaysia, LPI Capital, Dufu Technology, Eco-Shop, Tenaga Nasional, Matrix Concepts, AME Elite, Ni Hsin, HB Global, Infomina, Bintai Kinden, Paragon Globe

Dufu Technology Corp Bhd (KL:DUFU) reported its highest quarterly net profit in four years driven by stronger hard disk drive (HDD) component sales and a fair value gain of  RM2.8 million from investments in listed shares.

Dufu posts highest quarterly profit in four years on stronger sales, fair value gain

<p>The government is pursuing legal action, including a civil suit, against Zetrix AI Bhd (KL:ZETRIX) over its failure to remit RM314 million in revenue collected on behalf of the Road Transport Department (JPJ).</p>


Govt to sue Zetrix AI over RM314m JPJ arrears

<p>The prosecution on Tuesday concluded its case against Bagan Member of Parliament and DAP adviser Lim Guan Eng in the Penang undersea tunnel graft trial at the Sessions Court here.</p>


Prosecution phase of Guan Eng’s Penang undersea tunnel graft trial ends

<p>The Court of Appeal has dismissed an appeal by Datuk Seri Stanley Thai to intervene in the winding-up proceedings against property unit Sunimax Development Sdn Bhd (SDSB).&nbsp;</p>


Appellate court dismisses Stanley Thai’s bid to intervene in RM37m Sunimax Development winding-up

<p>The government has yet to decide whether to provide financial support to financially-distressed AirAsia Group Bhd (KL:AAGB), Transport Minister Anthony Loke Siew Fook said.</p>


Loke: Govt yet to decide on financial support for AirAsia

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


<p>The government has barred a petrol station in Sungai Buaya in Nibong Tebal, Penang, from selling subsidised RON95 petrol and diesel after detecting suspicious transactions under the Budi Madani programme.</p>


Govt bars Penang petrol station from selling subsidised fuel, blocks RM270,000 in payments over alleged Budi Madani abuse 

<p>The government has approved a requirement for data centres to use at least 30% renewable energy, Deputy Prime Minister Datuk Seri Fadillah Yusof said on Tuesday.</p>


Data centres to be required to source at least 30% renewable energy — Fadillah

<p>Malaysia’s swelling palm oil inventories are straining storage capacity in the country’s top-producing state, as a bumper harvest piles pressure on the government to clear excess supplies.</p>


Malaysian palm oil glut swamps storage in top producer Sarawak

<p>ON Oct 20, 2026, Prime Minister and Minister of Finance Datuk Seri Anwar Ibrahim, while answering a question in Parliament about recent allegations of a corporate mafia, said that this was not new and had existed in the past.</p>


Anwar: There was corporate mafia 25 years ago

<p>A group of Kuala Lumpur residents has gone to the court to challenge a 66-year-old law that allows the government to take over private land, including for projects by private companies.</p>


Kuala Lumpur residents' group files court challenge against 1960 law on compulsory land acquisition

<p>Tenaga Nasional Bhd (KL:TENAGA) has committed to connecting approved data centres to the electricity grid within one year, as Malaysia strengthens its domestic network to keep pace with rising power demand and regional electricity connectivity.</p>


TNB commits to connect approved data centres to the grid within one year

<p>YNH Property Bhd (KL:YNHPROP) said the Inland Revenue Board (IRB) will withdraw a winding-up petition against its wholly-owned subsidiary after it reached a settlement on outstanding tax liabilities.</p>


YNH Property says IRB to withdraw winding-up petition following settlement on tax liabilities

<p>Paragon Globe Bhd (KL:PGLOBE) on Tuesday received shareholders’ approval for its proposed sale of 65 acres of land in Iskandar Puteri, Johor, to a unit of Singapore-based DayOne Data Centers Ltd for RM398.11 million.</p>


Paragon Globe gets shareholders’ nod for RM398m Johor land sale to data centre firm DayOne

<p>Dufu Technology Corp Bhd (KL:DUFU) reported its highest quarterly net profit in four years driven by stronger hard disk drive (HDD) component sales and a fair value gain of &nbsp;RM2.8 million from investments in listed shares.</p>


<p>Tenaga Nasional Bhd (KL:TENAGA) has issued RM4.8 billion in Islamic medium-term notes under its RM10 billion sustainability sukuk wakalah programme to finance or refinance eligible transition projects as part of its sustainability goals.</p>


Tenaga Nasional issues another RM4.8 bil sukuk to fund transition projects

<p>The High Court has dismissed an application by Mulia International Limited (MIL) — an international unit of Indonesia's prominent Mulia Group (PT Mulialand) — to stay a domestic commercial lawsuit brought against it by MKD Signature Sdn Bhd concerning the ownership of the Exchange 106 tower at Tun Razak Exchange (TRX).</p>


High Court dismisses Mulia International’s bid to stay MKD Signature’s suit over Exchange 106 tower ownership dispute

<p>Intel Corp&nbsp;agreed to buy Israeli start-up Classiq Technologies Ltd&nbsp;as part of a push to capitalise on quantum computing, a still-nascent field that is seeking commercial applications.</p>


Intel said to buy quantum start-up Classiq for about US$2.3 bil

<p>Eco-Shop Marketing Bhd (KL:ECOSHOP) posted a higher net profit for the first quarter, buoyed by store expansion and a rise in customer transactions.</p>


Eco-Shop 1Q net profit rises nearly 8% as store network expands

<p>Sandisk Corp, Micron Technology Inc, Seagate Technology Holdings plc and Western Digital Corp were among the stock market’s biggest winners in the first six months of the year as demand from the artificial intelligence (AI) build out seemed insatiable.</p>


Memory stocks lost their shine despite strong earnings 

<p>Impact Capital Holdings Bhd is aiming to maintain its profit after tax (PAT) margin above 6% over the next three to five years, supported by a healthy tender book and increasing recurring income.</p>
