<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 7): Pharmaniaga Bhd has proposed a bonus issue of 1.06 billion shares on the basis of four bonus shares for every share held on an entitlement date to be announced later.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, the integrated pharmaceutical group said the proposed bonus issue is an appropriate avenue to reward its shareholders as it will enable the existing shareholders to have greater participation in the equity of the company whilst maintaining their percentage of equity interest.</p></div>

<div class=newsTextDataWrapInner><p>Besides that, Pharmaniaga said the bonus issue is also expected to enhance the affordability, marketability and trading liquidity of its shares, and thus provide opportunity for greater participation from a broader range of investors.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>According to Pharmaniaga, the theoretical ex-bonus share price of its shares is expected to be between 68 sen and 77 sen.</p></div>

<div class=newsTextDataWrapInner><p>Barring any unforeseen circumstances, the proposed bonus issue is expected to be completed by the third quarter of 2021.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Pharmaniaga went up nine sen or 2.65% to RM3.48 today, bringing it a market capitalisation of RM910.74 million. The counter saw 306,500 shares traded today.</p></div>

<div class=newsTextDataWrapInner><p>Year to date, the counter has declined by 30.4% from RM3.48 on Dec 31, 2020.</p></div>


Pharmaniaga Bhd has proposed a bonus issue of 1.06 billion shares on the basis of four bonus shares for every share held on an entitlement date to be announced later.

In a filing with Bursa Malaysia today, the integrated pharmaceutical group said the proposed bonus issue is an appropriate avenue to reward its shareholders as it will enable the existing shareholders to have greater participation in the equity of the company whilst maintaining their percentage of equity interest.

Pharmaniaga proposes four-for-one bonus issue

Crude palm oil (CPO) futures contracts on Bursa Malaysia Derivatives ended mostly lower on Thursday in line with the weaker soybean oil performance on the Chicago Board of Trade (CBOT), said palm oil trader David Ng.

CPO futures close mostly lower in sync with weaker soybean oil prices

Police have recorded the statement of blogger Wan Muhammad Azri Wan Deris, better known as Papagomo, regarding his allegedly defamatory and insulting remarks against the Inspector-General of Police and the security forces.

Inspector General of Police Tan Sri Razarudin Husain said Wan Muhammad Azri had his statement recorded at 3pm Thursday at the Setapak police station.

Police record Papagomo's statement over defamatory remarks against IGP, PDRM

A coalition of non-governmental organisations (NGOs) on Thursday called on Prime Minister Datuk Seri Anwar Ibrahim to announce a clear timeline for the separation of the public prosecution function from the Attorney General’s Chambers (AGC).

NGOs urge PM to announce clear timeline for separation of AG-PP's powers after Rosmah's acquittal 

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

MRCB, Pentamaster, UEM Sunrise, Mah Sing, S P Setia, Mynews, UWC, Aeon Credit, United Malacca, Vestland, Uzma, Bonia, Catcha Digital, Southern Steel 

The US Department of Commerce has recently asked Nvidia to look into how the company's products ended up in China over the past year, The Information reported on Thursday, citing a person close to the department.

US asks Nvidia to investigate how its chips ended up in China — report 

As the Russian president, Vladimir Putin, held his carefully stage-managed annual phone-in and press conference to answer questions from journalists and ordinary Russians, EU leaders were hosting Ukraine’s president Volodymyr Zelensky in Brussels at their final meeting of the year. Unsurprisingly, the war in Ukraine loomed large at both events.

Ukraine war: As 2025 approaches, Kyiv is left with few good options and allies in a Trump 2.0 world

The US Congress has two days as of Thursday to avert a partial government shutdown after President-elect Donald Trump rejected a bipartisan deal on federal spending and demanded lawmakers address the nation's debt ceiling before he takes office next month.

US Congress has two days to avert shutdown after Trump rejects spending bill

The script for the biblical epic 'Mary', which tells the story of the Nativity from the perspective of Mary of Nazareth, languished in Hollywood for some 15 years before entering production.

As the independent film approached completion this September, it attracted interest from three major Hollywood studios and streaming giant Netflix, which emerged as the global distributor and released the movie this month.

Hollywood embraces God and the 'cowboy curious' to broaden audience

The third meeting of the third session of the 15th Parliamen adjourned on Thursday after sitting for 12 days since Dec 2, with 26 bills passed.

Dewan Negara adjourns after passing 26 bills in 12 days

Wall Street's main indexes regained some ground on Thursday, a day after the Federal Reserve's projections of fewer-than-expected interest rate cuts and higher inflation next year wrong-footed some investors and pummelled US stocks.

Wall Street bounces back after Fed's hawkish cut triggers sell-off

<p>Companies that spent billions on poorly timed acquisitions in recent years are now offloading those assets at knockdown prices.<br />
&nbsp;<br />
Alibaba Group Holding Ltd announced on Tuesday it’s going to sell Chinese department-store chain Intime to a local apparel group for US$1 billion (RM4.47 billion).</p>


Companies that spent billions on M&A are now selling for peanuts

<p>UEM Group Bhd, the wholly-owned infrastructure arm of Khazanah Nasional Bhd, has been silent for a long time.</p>

<p>Some in the diversified group say the last time it gave an interview to the media was when Datuk Mohd Izzaddin Idris was at the helm. He left in October 2018, after holding the ...

Cover Story: Sleeping Giant UEM Group Stirs

<p>Indonesia will increase its export levy for crude palm oil (CPO) to 10% from the current 7.5% to finance higher biodiesel subsidies, its chief economic minister said on Thursday.</p>


Indonesia to hike crude palm oil export levy to 10%

<p>KUALA LUMPUR (Dec 19): The Malaysian Anti-Corruption Commission (MACC) has announced that no charges will be filed against any parties involved in the 1BestariNet project tender under the Ministry of Education (MOE).</p>


No charges filed in 1BestariNet tender investigation, says MACC

<p>The government’s proposal to introduce a Diagnostic-Related Group (DRG) payment system to regulate private healthcare costs may face significant challenges and feasibility issues, according to Hong Leong Investment Bank (HLIB).</p>


Govt's proposed DRG payment system may face challenges — HLIB

<p>Mynews Holdings Bhd (KL:MYNEWS) reported a significant jump in net profit to RM3.76 million for the fourth quarter ended Oct 31, 2024 (4QFY2024), a nearly fourfold increase compared to RM947,000 in the same period last year. This marks the fifth consecutive profitable quarter for the convenience store operator.</p>


Mynews plans more new stores after 4Q profit jumps nearly fourfold as sales climb

<p>THERE has been speculation for the past few weeks that healthcare support services and property and facility solutions provider UEM Edgenta Bhd (KL:EDGENTA) will be taken private by its 69.14% parent company UEM Group Bhd, the infrastructure arm of Khazanah Nasional Bhd.</p>

<p>“I cannot comme...

Cover Story: Depressed valuation sparks speculation about UEM Edgenta

<p>THE general perception is that PLUS Malaysia Bhd is sitting on a lucrative toll concession. But Datuk Amran Hafiz Affifudin, managing director of UEM Group Bhd, tells The Edge that such a perception is different from reality.</p>

<p>“Sometimes people on the outside think that it [PLUS highway ...

Cover Story: PLUS’ concession not as lucrative as perceived, says UEM Group MD

<p>KUALA LUMPUR (Dec 19): Aluminium products maker Winstar Capital Bhd (KL:WINSTAR) is expecting sales to grow in 2025, with the removal of China’s export tax rebates for aluminium products, and the upcoming implementation of the fifth iteration of Malaysia’s large scale solar programme (LSS5).</p>


Winstar eyes sales growth amid China tax shift, LSS5 opportunities

<p>Chai Woon Yun, daughter of Aset Kayamas founder Tan Sri Datuk Chai Kin Kong, has become the largest shareholder of Kanger International Bhd through a private placement.</p>


Daughter of Aset Kayamas founder is now Kanger’s largest shareholder

<p>KUALA LUMPUR (Dec 19): Catcha Digital Bhd (KL:CATCHA) has announced its acquisition of a 70% stake in Tastefully Malaysia Sdn Bhd for RM7.6 million cash, to strengthen its position in the integrated digital and offline advertising space.</p>

<p>In a bourse filing on Thursday, Catcha Digital sa...

Catcha Digital acquires 70% stake in Tastefully to tap into consumer food expo sector

<p>UWC Bhd's (KL:UWC) net profit rose 49.2% to RM6.5 million in the first quarter ended Oct 31, 2024 (1QFY2025) from RM4.35 million a year ago, lifted by increasing orders from the semiconductor industry.&nbsp;</p>

<p>Contributions from its acquired subsidiaries, MCE Technologies Sdn Bhd (MCET) and MCT (Thailand) Co Ltd, also add to the earnings.</p>


UWC's net profit jumps 49% as revenue nearly doubles on increased semiconductor orders 

<p>Malaysian Resources Corp Bhd (KL:MRCB) has confirmed it has withdrawn from a Berjaya-led consortium which is bidding for the multi-billion-ringgit Kuala Lumpur-Singapore high-speed rail (HSR) project.</p>

<p>In a filing, MRCB said the group issued a notice of termination to consortium partner Berjaya Rail Sdn Bhd to terminate the teaming agreement for the submission of a non-binding conceptual proposal to MyHSR Corporation Sdn Bhd in relation to the project.</p>


MRCB confirms withdrawal from Berjaya-led HSR consortium

<p>The US Federal Reserve’s (US Fed) intent to adopt a slower pace of interest rate easing in 2025 is expected to prompt slight downward pressure on the domestic market, analysts said.</p>


US Fed’s hawkish pivot ‘slightly negative’ for Malaysian market, analysts say

<p>There is noticeable shift towards local fast-moving consumer goods amid prolonged boycott of international brands following the Israel-Gaza conflict, according to Hong Leong Investment Bank (HLIB).</p>


HLIB: Consumer trends shift to local fast-moving consumer goods as boycotts persist

<p>Pentamaster Corp Bhd (KL:PENTA) on Thursday proposed to privatise its 63.9%-owned Hong Kong-listed Pentamaster International Ltd (PIL) with a partner in an exercise that would raise its stake to 71%.</p>


Pentamaster, partner to privatise HK-listed unit; confirms The Edge’s report

<p>Smile-Link Healthcare Global Bhd (KL:SMILE), a LEAP Market-listed dental services provider, said its major shareholder has proposed to remove its external auditors, Messrs HLB Ler Lum Chew, following significant delays in the company's financial reporting, which have led to trading suspensions and regulatory scrutiny.</p>


Smile-Link major shareholder seeks removal of external auditor amid financial reporting delays

<p>Here’s a quick look at some of the stories that made headlines today.</p>


EVENING 5: Five things you need to know today

<p>KUALA LUMPUR (Dec 19): Telekom Malaysia Bhd (KL:TM) has signed&nbsp;a memorandum of understanding&nbsp;(MOU) with Petroliam Nasional Bhd’s (Petronas) digital arm Petronas Digital Sdn Bhd and Gentari Sdn Bhd to accelerate&nbsp;digital transformation and sustainable innovation for industries and the nation.&nbsp;</p>


TM, Petronas and Gentari ink MOU to drive digital transformation for industries

<p>Wall Street's main indexes regained some ground on Thursday, a day after the Federal Reserve's projections of fewer-than-expected interest rate cuts and higher inflation next year wrong-footed some investors and pummelled US stocks.</p>
