<div class=newsTextDataWrapInner>KUALA LUMPUR (Oct 2): Plastic products maker SKP Resources Bhd will be buying the entire business of smaller rival Tecnic Group Bhd for RM200 million, confirming a report by The Edge Financial Daily on Sept 30. 
 
The proposed acquisition will be satisfied by RM100 million in cash, and the issuance of 172.4 million new shares in SKP at 58 sen per share. 
 
In a filing with Bursa Malaysia today, SKP said it has entered into a conditional share sale and purchase agreement with Tecnic, for the entire issued share capital of three of the latter’s wholly-owned subsidiaries — Plastictecnic (M) Sdn Bhd (PSB), Sun Tong Seng Mould-Tech Sdn Bhd (STSM) and Bangi Plastics Sdn Bhd (BPSB). 
 
Following the completion of the acquisition, Tecnic will no longer have any business or operation, and become a “cash company” pursuant to Practice Note 16. 
 
“The proposed acquisitions will allow SKP to leverage on the additional production capacity of the target companies, allowing SKP Group to re-jig its product mix and better tailor its services to suit the demands of customers,” said SKP.</div>

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KUALA LUMPUR (Oct 2): Plastic products maker SKP Resources Bhd will be buying the entire business of smaller rival Tecnic Group Bhd for RM200 million, confirming a report by The Edge Financial Daily on Sept 30.

The proposed acquisition will be satisfied by RM100 million in...

SKP Resources to buy Tecnic for RM200mil

IPOH (Oct 23): Police arrested six local men suspected of involvement in an international online gambling syndicate targeting Australian citizens following a raid at a three-storey terrace house in Kamunting, Taiping, on Oct 20.

Police bust online gambling syndicate targeting Australians, six arrested

Foodie Media Bhd (KL:FOODIE) rose on Friday to extend a rebound from all-time lows thanks to a set of stronger-than-expected results at the social media content company.

Foodie Media extends rebound from all-time lows after results beat

Property developer KEB Bhd has priced its shares at 35 sen apiece for its ACE Market listing.

Real estate developer KEB aims to raise nearly RM80 mil from ACE Market IPO

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Mi Technovation Bhd (KL:MI) will report “stellar” third-quarter results following robust guidance from its soon-to-be-listed semiconductor material unit, its most bullish analyst said.

Mi Technovation’s most bullish analyst predicts ‘stellar’ 3Q

More than three-quarters of data centres set to be built around Australia’s biggest cities are at risk from stretched power grids and local opposition, threatening the country’s ambition to become an artificial intelligence (AI) hub for the Asia Pacific region.

AI data centre backlash threatens Australia’s US$70 bil dream

(Oct 23): Nippon Steel Corp will spend US$3 billion building a hot-strip mill in Pennsylvania, part of its US$11 billion investment plan in newly-acquired US Steel.

Nippon Steel raises US mill upgrade to US$3 bil as costs climb

There’s no end in sight for the sell-off in China’s artificial intelligence (AI) model developer stocks, with competition growing ever more heated and the threat of rival listings next year.

China's US$150 bil AI model stock slump shows no sign of easing

Sarawak Premier Tan Sri Abang Johari Tun Openg is expected to announce the dissolution of the Sarawak State Legislative Assembly on Friday afternoon, paving the way for a state election.

Abang Johari expected to announce Sarawak assembly dissolution this afternoon

The Ministry of Finance (MOF) said Bank Simpanan Nasional, a statutory body under its purview, has paid RM13.52 million in claims to victims of a fake investment scheme run by a former employee at its Kuching branch.

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US Treasuries surged — sending the US 10-year yield back below 5% — as investors sought shelter from tumbling share prices for companies leading the boom in spending on artificial intelligence (AI).

US 10-year yield falls below 5% as investors flock to safe havens

Asian shares fell on Friday as concerns over the enormous funding needs of artificial intelligence (AI) hammered tech and led to the biggest daily rally in Treasuries in more than three years, with investors fleeing to sovereign bonds and safe-haven currencies.

Asian shares wobble as tech rout boosts bonds, dents rate hike bets

Foodie Media Bhd (KL:FOODIE) rose on Friday to extend a rebound from all-time lows thanks to a set of stronger-than-expected results at the social media content company.

Malaysia must strengthen gas supply security, invest in infrastructure and prepare for future demand to maintain a reliable and competitive energy system amid geopolitical uncertainty.

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(Oct 23):&nbsp;The Trump administration is seeking to restrict American investment in Chinese biotechnology companies, potentially complicating financial ties at a time when US drugmakers are increasingly turning to China for new medicines.

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(Oct 23): Oil prices were little changed in early Asian trade on Friday, after rising 4% to a five-month high in the previous session due to concern of further energy supply disruption after Houthi attacks on top exporter Saudi Arabia.

Oil little changed as supply concern lingers amid Houthi attacks on Saudi Arabia

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Sarawak Premier Tan Sri Abang Johari Tun Openg is expected to announce the dissolution of the Sarawak State Legislative Assembly on Friday afternoon, paving the way for a state election.

(Oct 23):&nbsp;Wall Street shunned stocks as a technology rout and Middle East risks drove investors to the safety of bonds, reducing bets on another Federal Reserve rate hike in 2026.

Stocks fall as AI jitters ease bets on Fed hikes

The 2% Employees Provident Fund (EPF) contribution rate payable by employers for non-Malaysian workers is relatively low, the Finance Ministry (MOF) said.

MOF: 2% EPF contribution rate for foreign workers relatively low

Mi Technovation Bhd (KL:MI) will report “stellar” third-quarter results following robust guidance from its soon-to-be-listed semiconductor material unit, its most bullish analyst said.

KUALA LUMPUR (Oct 22): The remaining net financial burden borne by the government in relation to 1Malaysia Development Bhd (1MDB) is estimated at RM20.1 billion, assuming no further recovery of funds or assets in the future.

MOF: Govt’s net financial burden related to 1MDB estimated at RM20.1 bil

SYDNEY/SAN FRANCISCO/BENGALURU (Oct 23): Sales of Apple's&nbsp;first folding phone, the iPhone Duo, began on Friday, with market watchers betting on whether the device can reinvent the small foldables market just like the iPhone did for smartphones.

Apple launches into foldable market as iPhone Duo sales begin

The proposed construction of the Madani Highway connecting Seremban-Kuala Pilah-Bahau is not currently in the Works Ministry’s (KKR) plans, according to the ministry.

Proposed Seremban-Kuala Pilah-Bahau highway not being planned — Works Ministry

YILAN/TAIPEI, Taiwan (Oct 23): Almost all of Taiwan shut down on Friday ahead of the arrival of Typhoon Champi, which is forecast to bring strong winds and torrential rain, though the storm is weakening and is not expected to make direct landfall on the island.

Taiwan shuts down ahead of Typhoon Champi, hundreds of flights cancelled

Mortgage rates fell for the first time in nine weeks, providing little comfort to sellers facing the slowest US housing market in at least 25 years.

US mortgage rates decline for first time in nine weeks, to 7.32%

Property developer KEB Bhd has priced its shares at 35 sen apiece for its ACE Market listing.

SEOUL (Oct 23): South Korean chipmaker SK Hynix&nbsp;said on Friday that it had suspended its review of a US initial public offering (IPO) for its Solidigm subsidiary, citing financial market volatility and share price trends.

SK Hynix says Solidigm suspends review of US IPO, citing market volatility

SEOUL (Oct 23): The US armed forces have banned Chinese carmaker BYD's EVs from an air base in Japan due to security concerns, South Korea's Yonhap news reported on Friday, after Washington put the company on a list of enterprises it believes are aiding China's military.