<div class=newsTextDataWrapInner><p>KUALA LUMPUR (July 9): Co-founder and group chief executive officer of Press Metal Bhd&nbsp;Datuk Koon Poh Keong has raised his stake in the company&nbsp;after buying 10 million shares.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, Press Metal (fundamental: 0.95; valuation: 2.0) said Koon bought the shares on July 7 at RM2.40 per share, which cost him RM24 million.</p></div>

<div class=newsTextDataWrapInner><p>After the share purchase, he holds a direct stake of 16.99% or 220.66 million shares in Press Metal. Koon also holds an indirect stake of 26.7% in the aluminum products manufacturer.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The indirect stake is by virtue of holdings by his spouse, Datin Khoo Ee Pheng – who owns a direct 2.09% equity interest or 27.18 million shares in Press Metal –&nbsp;as well&nbsp;as well as a company associated with Koon, Alpha Milestone Sdn Bhd.</p></div>

<div class=newsTextDataWrapInner><p>Press Metal closed at RM2.47 today, 3 sen or 1.23% higher,&nbsp;bringing its market capitalisation to&nbsp;RM3.168 billion. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p><span style="font-size:12px"><em>(Note: The Edge Research's fundamental score reflects a company’s profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)</em></span></p></div>


KUALA LUMPUR (July 9): Co-founder and group chief executive officer of Press Metal Bhd Datuk Koon Poh Keong has raised his stake in the company after buying 10 million shares.

In a filing with Bursa Malaysia today, Press Metal (fundamental: 0.95; valuation: 2.0) said Koon boug...

Press Metal CEO buys additional 10m shares

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TA Securities said the Malaysian Anti-Corruption Commission clearing YTL Power International Bhd (KL:YTLPOWR) of any wrongdoing in the 1BestariNet project investigations, along with the favourable outcome of the Water Services Regulation Authority’s (Ofwat) PR24 final decision, removes key overhangs for the utility firm.

MACC clearance, Ofwat decision remove overhangs on YTL Power — TA Securities

China’s short-term bond yields slumped further to reach the psychological milestone of 1% for the first time since the global financial crisis, as traders ramped up bets on monetary easing.

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The International Monetary Fund views Wednesday's Federal Reserve interest rate cut and adoption of a more cautious outlook as appropriate given high US economic uncertainty, IMF spokesperson Julie Kozack said on Thursday.

IMF says Fed taking appropriate action on rates given high US uncertainty

SYDNEY (Dec 20): Dealmakers expect the momentum for new share sales in India, now the world’s busiest market for initial public offerings (IPOs), and Australia in 2025, will cushion the impact of sluggish Chinese deals in the Asia Pacific.

India, Australia brighten new share sales prospects for 2025 in Asia Pacific

(Dec 20): South Korea’s financial market regulator is increasing pressure on lenders to clean up troubled real estate loans as the nation’s political turmoil hurts economic growth.

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LOS ANGELES/BENGALURU (Dec 19): FedEx announced the much-anticipated spinoff of its freight trucking division on Thursday, as it restructures operations to focus on its core delivery business.

FedEx to spin off its freight trucking business

(Dec 20): BlackRock Inc. said it’s writing down the value of one of its flagship renewable funds after two key investments for the vehicle collapsed, and it’s enlisting executives from its recently acquired Global Infrastructure Partners business to help turn around performance.

In...

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KUALA LUMPUR (Dec 20): Malaysia’s Foreign Minister Datuk Seri Mohamad Hasan is currently in Bangkok, Thailand, attending the Asean Troika Informal Consultation and Extended Informal Consultation sessions.

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


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

<p>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).</p>


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

<p>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, <i>The Information</i> reported on Thursday, citing a person close to the department.</p>


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

<p>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.</p>


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

<p>(Dec&nbsp;20):&nbsp;A federal judge confirmed an 18-year prison sentence for Archegos Capital Management founder Bill Hwang, rejecting arguments that he should be allowed to spend a third of that time in the comfort of his own home.</p>


Bill Hwang’s bid to reduce 18-year prison term is rejected

<p>US stocks ended a choppy session with modest losses, struggling to rebound from the selloff they suffered after the Federal Reserve dialed back rate-cut expectations for next year.&nbsp;</p>

<p>The S&amp;P 500 gave up earlier gains to end the day little changed.</p>


Stocks fail to recover from Fed-fuelled selloff

<p>DELAWARE/SAN FRANCISCO (Dec 19): A licence dispute between Arm Holdings and Qualcomm went before a jury on Thursday, after attorneys from both sides completed closing arguments.</p>


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


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

<p>(Dec&nbsp;20):&nbsp;A look at the day ahead in Asian markets.</p>


Seeking respite from Fed; PBOC set to hold the line

<p>(Dec 20):&nbsp;Asian stocks traded in a tight range early Friday, after the US Federal Reserve’s hawkish pivot continued to weigh on US equities and bonds but lifted the dollar.</p>


Asian stocks fluctuate after downbeat US session

<p>TA Securities said the Malaysian Anti-Corruption Commission clearing YTL Power International Bhd (KL:YTLPOWR) of any wrongdoing in the 1BestariNet project investigations, along with the favourable outcome of the Water Services Regulation Authority’s (Ofwat) PR24 final decision, removes key overhangs for the utility firm.</p>


<p>KUALA LUMPUR (Dec 20): Malaysia’s Foreign Minister Datuk Seri Mohamad Hasan is currently in Bangkok, Thailand, attending the Asean&nbsp;Troika Informal Consultation and Extended Informal Consultation sessions.</p>


<p>(Dec 20):&nbsp;BlackRock Inc. said it’s writing down the value of one of its flagship renewable funds after two key investments for the vehicle collapsed, and it’s enlisting executives from its recently acquired Global Infrastructure Partners business to help turn around performance.</p>

<p>In...

<p>SYDNEY (Dec 20): Dealmakers expect the momentum for new share sales in India, now the world’s busiest market for initial public offerings (IPOs), and Australia in 2025, will cushion the impact of sluggish Chinese deals in the Asia Pacific.</p>


<p>(Dec 19):&nbsp;President-elect Donald Trump said Congress should get rid of the debt ceiling, <em>NBC News</em> reports citing a phone interview with him on Thursday.</p>

<p>Getting rid of the debt ceiling entirely would be the “smartest thing [Congress] could do. I would support that entirely...

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<p>LOS ANGELES/BENGALURU (Dec 19): FedEx announced the&nbsp;much-anticipated spinoff&nbsp;of its&nbsp;freight&nbsp;trucking division on Thursday, as it restructures operations to focus on its core delivery business.</p>


<p>TOKYO (Dec 20):&nbsp;Japan’s core inflation accelerated in November as rising food and fuel costs hit households, data showed on Friday, keeping the central bank under pressure to raise interest rates.</p>


Japan’s core inflation accelerates, keeps BOJ rate-hike chance alive

<p>(Dec 20): Bankrupt retailer Big Lots Inc. no longer anticipates it can complete its asset sale to private equity firm Nexus Capital Management LP and will commence the sale of its stores in coming days to protect the value of its real estate.</p>

<p>The discount chain that employs more than 27...

Big Lots sale to Nexus falls apart, plans to close business

<p>(Dec 20): South Korea’s financial market regulator is increasing pressure on lenders to clean up troubled real estate loans as the nation’s political turmoil hurts economic growth.</p>

<p>Korean financial institutions will “organize and restructure” 16.2 trillion won ($11.2 billion) of loans i...

<p>The International Monetary Fund views Wednesday's Federal Reserve interest rate cut and adoption of a more cautious outlook as appropriate given high US economic uncertainty, IMF spokesperson Julie Kozack said on Thursday.</p>
