<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on May 12, 2017 - May 18, 2017</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Property developer PRG Holdings Bhd has submitted an application to the Hong Kong Stock Exchange for the proposed listing of its manufacturing business on the Growth Enterprise Market.</p></div>

<div class=newsTextDataWrapInner><p>In a statement yesterday, PRG said subject to the approvals of the relevant regulatory authorities being obtained, it expects the proposed listing to be completed before the end of 2017.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“The proceeds raised from the exercise will accrue entirely to Listco and is proposed to be utilised for any future expansion of business and working capital purposes of the manufacturing and manufacturing-related businesses of Listco Group,” it added.</p></div>

<div class=newsTextDataWrapInner><p>Upon completion of the proposed listing, PRG will continue to be a controlling shareholder holding not more than 75% of the enlarged issued share capital of Listco.</p></div>

<div class=newsTextDataWrapInner><p>“It is proposed that Listco will offer shares by way of public offering and placement to the public and selected professional, institutional or other investors in Hong Kong respectively. The final price for each offer share to be subscribed shall be determined by Listco and the underwriters,” said PRG.</p></div>


KUALA LUMPUR: Property developer PRG Holdings Bhd has submitted an application to the Hong Kong Stock Exchange for the proposed listing of its manufacturing business on the Growth Enterprise Market.

In a statement yesterday, PRG said subject to the approvals of the relevant regulatory a...

PRG manufacturing arm set to list in Hong Kong by year end

Colform Group Bhd’s upcoming debut on the ACE Market of Bursa Malaysia Securities has received the nod from the capital market operator, the steel and building material specialist based in Kota Kinabalu said.

Sabah-based IBS system maker Colform gets Bursa nod for ACE Market listing

Negri Sembilan Oil Palms Bhd (KL:NSOP), which shares the same major shareholder and management with Chin Teck Plantations Bhd (KL:CHINTEK), has declared a 14 sen dividend payout — comprising a special nine sen and second interim five sen payout — after reporting a 26.6% jump in its third quarter net profit from the previous year, largely on higher revenue.

Negri Sembilan Oil Palms pays 14 sen dividend, including special nine sen payout as 3Q profit jumps

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

TNB, CIMB, Alliance Bank, HLFG, Hong Leong Bank, Axiata, IHH, Sime Darby, Genting, GENM, PPB, Capital A, Berjaya Corp, Supermax, Farm Fresh, Chin Teck, Icon Offshore, Globetronics

High-quality corporate reporting could play a role within the Madani Economy framework, where Malaysia aims to 'raise the ceiling' by expanding the economic pie, fostering broader participation and increasing the complexity of our economy.

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The SA Sentral and Section 13 development plan, set to be implemented over the next seven years starting next year, will cover 58.6 hectares (145 acres) and aims to transform the area into a modern, dynamic, and competitive integrated hub in the country.

PKNS unveils development plan for SA Sentral 

The flood situation in Kelantan, Terengganu, Kedah, and Perlis continues to decline, with the number of victims increasing on Thursday night, while the flooding in Johor was over when the last temporary relief centre was closed this afternoon.

Number of flood victims across four states rises, Johor fully recovers 

Wellcall Holdings Bhd (KL:WELLCAL) declared a special dividend on top of an interim dividend, despite a 56.22% drop in the industrial rubber hose maker’s fourth quarter net profit — mainly due to foreign exchange (forex) losses.

Wellcall's 4Q profit drops 56% on forex loss, pays 2.2 sen dividend

Icon Offshore Bhd (KL:ICON), which has proposed a name change to Lianson Fleet Group Bhd, posted a threefold jump in net profit for the third quarter on higher daily charter rates.

Icon Offshore mulls rename to Lianson Fleet Group, 3Q profit triples on higher daily charter rates

France will sharply reduce subsidies for electric-car purchases in the coming days, with a new scale ranging from €2,000 (RM9,364) to €4,000 based on income, down from the previous range of €4,000 to €7,000, a government source said on Thursday.

France slashes electric car subsidies amid budget crunch

WCE Holdings Bhd’s (KL:WCEHB), the concessionaire of the West Coast Expressway (WCE) project, extended its loss-making streak to six straight quarters with a net loss in the July-September quarter, mainly due to interest expenses related to project financing for the completed sections of the highway.

WCE logs sixth straight quarter in the red, eyes return to profit on highway completion

<p>Genting Malaysia Bhd's (KL:GENM)&nbsp;third-quarter net profit jumped over threefold from the previous year, as it recognised net unrealised foreign exchange (forex) translation gains totalling RM601.8 million on its US-dollar denominated borrowings, as opposed to a forex loss of RM1.7 million previously.&nbsp;</p>


Genting Malaysia's 3Q profit highest in nearly six years on forex gains

<p>Gaming-to-plantation conglomerate Genting Bhd (KL:GENTING) reported a 57% drop in its third-quarter net profit, as it was hit by higher property, plant and equipment (PPE) write-off totalling RM207.3 million, as opposed to RM1.3 million previously.</p>


Genting's 3Q net profit more than halves on higher write-off

<p>Supermax Corp Bhd (KL:SUPERMX) extended its streak of losses to seven quarters, as a surge in&nbsp;operating expenses sank the glovemaker&nbsp;into the red,&nbsp;compounded by currency losses.</p>


Supermax trudges through 1Q as losses pile up, expects better finances next year

<p>The weaker US dollar was a tailwind to Capital A Bhd (KL:CAPITALA) in the third quarter ended Sept 30, 2024 (3QFY2024).</p>

<p>After four consecutive quarters of losses, Capital A posted a record-high net profit of RM1.64 billion for 3QFY2024, as opposed to a net loss of RM102.75 million a year ago, as the group recognises RM2.27 billion in foreign exchange (forex) gains compared with a forex loss of RM93.92 million in the corresponding quarter.</p>


Forex gains of RM2.27 bil lift Capital A earnings to record high in 3QFY2024 

<p>China's ByteDance is suing a former intern for US$1.1 million (RM4.9 million), alleging he deliberately attacked its artificial intelligence large language model training infrastructure, a case that has drawn widespread attention within China amid a heated AI race.</p>


ByteDance seeking US$1.1m damages from intern in AI breach case, report says

<p>Tenaga Nasional Bhd (KL:TENAGA) posted an 85% rise in net profit to RM1.58 billion for its third quarter ended Sept 30, 2024 (3QFY2024) thanks to hefty foreign exchange (forex) gains, against RM856.2 million in the same quarter last year, according to the utility giant’s bourse filing on Thursday.</p>


TNB 3Q profit up 85% on RM1.12b forex gain

<p>Berjaya Corp Bhd (KL:BJCORP) kicked off its new financial year with another quarterly loss dragged by its retail and services businesses, but said it is optimistic that some of the units will improve.</p>


Berjaya Corp suffers another quarterly loss, optimistic some segments will improve

<p>IHH Healthcare Bhd (KL:IHH) said its third quarter core net profit, excluding exceptional items that included adjustments made due to an accounting rule application, jumped 43% from the previous year on higher patient volumes and as its hospitals take on more complex cases.</p>


IHH Healthcare reports 43% jump in core profit on higher patient volumes

<p>The National Kidney Foundation (NKF) has on Thursday managed to quash the Inland Revenue Board’s decision in 2020 to withdraw the tax-exemption status of the charitable organisation.</p>


Court quashes IRB’s withdrawal of tax-exempt status of National Kidney Foundation

<p>The bidding for the development of Battery Energy Storage Systems (BESS) for the electricity supply system in Peninsular Malaysia will open Friday, according to the Energy Transition and Water Transformation Ministry (Petra).</p>


Petra: Bidding for battery energy storage system development in peninsula opens tomorrow

<p>The Malaysian Anti-Corruption Commission (MACC) has completed its investigation into the investments made by several government entities in the e-commerce platform FashionValet.</p>


MACC completes probe into FashionValet

<p>Globetronics Technology Bhd (KL:GTRONIC) said it is partnering Canada-headquartered POET Technologies Inc to work together on advanced manufacturing and testing of optical engines, designed for applications such as data centres and telecommunications.</p>


Globetronics partners with Canada's POET Technologies to manufacture optical engines for data centres

<p>Malaysia’s central bank said on Thursday it has asked insurance companies to review their repricing strategies amid public concerns over a spike in premiums of medical and health insurance products.</p>


BNM asks insurers to be 'more reasonable' with premium repricing

<p>PPB Group Bhd's (KL:PPB) net profit for the third quarter ended Sept 30, 2024 (3QFY2024) fell 44.1% to RM208.12 million, from RM372.55 million a year earlier, largely due to lower contribution from its 18.8%-owned associate Wilmar International Ltd, as well as lower profit from its core business segments.</p>


PPB 3Q profit falls 44% on lower Wilmar contribution

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<p>Digital Minister Gobind Singh Deo said on Thursday that Digital Nasional Bhd's (DNB) governance, financial practices, and administrative operations are in order and comply with legal requirements.</p>


Due diligence on DNB finds its operations, financial practices all in order, says Gobind

<p>Chin Teck Plantations Bhd (KL:CHINTEK) declares a special dividend of seven sen per share plus a first interim dividend of eight sen per share for the financial year ending Aug 31, 2025 (FY2025).</p>


Chin Teck declares 15 sen dividend for FY2025, including a seven-sen special

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


<p>Hong Leong Bank Bhd’s (KL:HLBANK) first-quarter net profit&nbsp;grew 5.8% year-on-year (y-o-y), boosted by strong growth in both net interest income (NII) and non-interest income (NOII).</p>


Hong Leong Bank earnings up 6% in 1Q, driven by higher net interest income

<p>Solar District Cooling Group Bhd (KL:SDCGB), which listed on the ACE Market of Bursa Malaysia on Sept 19, posted a net loss for the third quarter on high administrative expenses related to the initial public offering (IPO) expenses.</p>
