<div class=newsTextDataWrapInner>This article first appeared in The Edge Financial Daily on March 25, 2020 - March 31, 2020</div><div class=newsTextDataWrapInner>KUALA LUMPUR: Top Glove Corp Bhd founder and executive chairman Tan Sri Dr Lim Wee Chai has emerged as a substantial shareholder of LBS Bina Group Bhd after purchasing 103.13 million shares or a 6.81% stake in the property developer.</div>

<div class=newsTextDataWrapInner>In a filing with Bursa Malaysia, LBS Bina said Wee Chai bought the shares via direct business transactions between last Thursday and yesterday at 32 sen apiece or RM33 million.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Separate filings showed Wee Chai bought the shares in several blocks from LBS Bina’s single largest shareholder Gaterich Sdn Bhd, which is the private investment vehicle of LBS Bina founder Datuk&nbsp;Seri Lim Bok Seng&nbsp;and his family.&nbsp;Post-disposal, Gaterich has a 35.88% stake in LBS Bina.</div>

<div class=newsTextDataWrapInner>At closing yesterday, LBS Bina shares were up one sen or 2.94% at 35 sen, with a market capitalisation of RM530.18 million. Year to date, LBS Bina’s share price has fallen 30%.</div>

KUALA LUMPUR: Top Glove Corp Bhd founder and executive chairman Tan Sri Dr Lim Wee Chai has emerged as a substantial shareholder of LBS Bina Group Bhd after purchasing 103.13 million shares or a 6.81% stake in the property developer.

In a filing with Bursa Malaysia, LBS Bina said Wee Ch...

Top Glove founder emerges as substantial shareholder of LBS Bina

Genting Bhd (KL:GENTING) and Genting Malaysia Bhd (KL:GENM) are likely to be removed from the 30-stock FTSE Bursa Malaysia (FBM) KLCI in the latest review of the benchmark index that will be announced on Thursday, according to sources.

Genting, Genting Malaysia to be dropped from FBM KLCI — sources

Retailer Eco-Shop Marketing Bhd, which operates 320 discount stores nationwide, is planning to float its shares on the Main Market of Bursa Malaysia to raise funds for business expansion, according to its draft prospectus filed with the Securities Commission Malaysia.

Creador-backed discount store retailer Eco-Shop eyes Main Market listing, plans to float 862 mil shares

Global equities were set to climb higher as bullish comments from Jerome Powell supported risk assets. Currency traders remained on edge as the French government fell after a no-confidence vote.

Shares in Australia and equity futures in Japan rose, while contracts for Hong Kong were slightly lower.

Global stocks rise to record on Powell, bonds gain

The South Korean won rebounded on Wednesday, posting the sharpest gains among emerging-market currencies, after President Yoon Suk Yeol rapidly reversed his martial law declaration. Traders were waiting on Federal Reserve Chair Jerome Powell’s remarks for clues on where US interest rates are headed.

South Korea won outperforms emerging peers before Powell remarks

Stocks hit all-time highs as Federal Reserve Chair Jerome Powell said the economy is in remarkably good shape. The euro wavered as the French government fell after a no-confidence vote in Parliament.

A rally in big tech drove the S&P 500 to its 56th closing record in 2024. The Nasdaq 100 climbed more than 1%. Nvidia Corp.

Stocks hit record as Powell bullish on US economy

US services activity expanded in November at the slowest pace in three months as demand and employment growth settled back, indicating the largest part of the economy is losing momentum.

US services activity expands at slowest pace in three months 

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

Capital A, Superlon, Focus Dynamics, Uzma, UEM Sunrise, Mulpha, Central Global, Apollo Food, TMC Life Sciences, Sentoria, Binasat

Wall Street's main indexes climbed on Wednesday, with the S&P 500 and the Nasdaq touching record highs propelled by gains in technology stocks, while investors awaited comments from Federal Reserve chair Jerome Powell later in the day.

Tech rally drives S&P 500, Nasdaq to record highs; Powell comments in focus

Binasat Communications Bhd (KL:BINACOM) has proposed to undertake a private placement to finance the acquisition of several properties.

Binasat plans private placement to finance property acquisitions

AstraZeneca plc has appointed Iskra Reic as executive vice-president of its international business, replacing Leon Wang who is under investigation by Chinese authorities.

AstraZeneca veteran replaces detained China executive Leon Wang

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

Cash-rich Apollo Food Holdings Bhd’s (KL:APOLLO) net profit grew 6.7% year-on-year for the second quarter, supported by higher domestic and export sales.

Apollo Food declares 30 sen dividend; net profit up 6.7% in 2QFY2025 

After nearly two decades on the run, a Singaporean tycoon involved in a US$51 million (RM227 million) misappropriation case was finally arrested with his wife in Johor on Tuesday.

MACC helped nab Singapore tycoon after 19-year manhunt, says Azam Baki

Genting Bhd (KL:GENTING) and Genting Malaysia Bhd (KL:GENM) are likely to be removed from the 30-stock FTSE Bursa Malaysia (FBM) KLCI in the latest review of the benchmark index that will be announced on Thursday, according to sources.

Sentoria Group Bhd (KL:SNTORIA) said it has triggered Bursa Malaysia's Practice Note 17 (PN17) criteria after its shareholders’ equity fell to 33% of its issued and paid-up capital, based on its just released financial statement for the year ended Sept 30, 2024 (FY2024).

Sentoria triggers PN17 critera

Retailer Eco-Shop Marketing Bhd, which operates 320 discount stores nationwide, is planning to float its shares on the Main Market of Bursa Malaysia to raise funds for business expansion, according to its draft prospectus filed with the Securities Commission Malaysia.

Wall Street's main indexes climbed on Wednesday, with the S&amp;P 500 and the Nasdaq touching record highs propelled by gains in technology stocks, while investors awaited comments from Federal Reserve chair Jerome Powell later in the day.

Binasat Communications Bhd (KL:BINACOM) has proposed to undertake a private placement to finance the acquisition of several properties.

The 11th Malaysia-Singapore Leaders' Retreat, scheduled for Dec 8 to Dec 9 in Malaysia, has been postponed after Singapore Prime Minister Lawrence Wong tested positive for Covid-19 on Tuesday.

Malaysia-Singapore Retreat postponed as Singapore PM contracts Covid-19

The Dewan Rakyat on Wednesday approved the Commercial Vehicles Licensing Board (Amendment) 2024 Bill, which, among others, introduces the legal basis to address the issue of illegal or unauthorised bus ticket sales in Sabah, Sarawak and Labuan.

Dewan Rakyat passes Commercial Vehicles Licensing Board (Amendment) 2024 Bill

A consultant dubbed “Mr Non Compliant”, because he allegedly controlled the flow of bribes at the heart of Trafigura’s trial, believed he was “one of the family”, according to a document shared with the court.

'Mr Non Compliant’ believed he was part of Trafigura ‘family,’ Swiss court hears

AstraZeneca plc has appointed Iskra Reic as executive vice-president of its international business, replacing Leon Wang who is under investigation by Chinese authorities.&nbsp;

Brian Thompson, the CEO of UnitedHealth's insurance unit, was fatally shot in the chest on Wednesday morning outside the Hilton hotel in midtown Manhattan, the NY Post and Bloomberg reported, citing police sources.

UnitedHealthcare executive fatally shot in Manhattan, reports say

On Nov 18, hours after two communication cables were severed in the Baltic Sea, 30 Nato vessels and 4,000 military staff took to the same body of water for one of northern Europe's largest naval exercises.

As sabotage allegations swirl, Nato struggles to secure Baltic Sea

Stocks hit all-time highs as Federal Reserve Chair Jerome Powell said the economy is in remarkably good shape. The euro wavered as the French government fell after a no-confidence vote in Parliament.

A rally in big tech drove the S&amp;P 500 to its 56th closing record in 2024. The Nasdaq 100 climbed more than 1%. Nvidia Corp.

Eurozone economic growth could be weaker in the months ahead and the medium term outlook is uncertain with downside risks dominating, European Central Bank president Christine Lagarde said in a parliamentary hearing on Wednesday.

ECB's Lagarde sees weak growth, dominated by downside risks

Foot Locker Inc’s shares sank after the sneaker chain cut its full-year sales and profit forecasts, citing more discounts and a pullback in consumer spending ahead of the crucial holiday season.

Foot Locker tumbles after sales weakness led to outlook cut

Global equities were set to climb higher as bullish comments from Jerome Powell supported risk assets. Currency traders remained on edge as the French government fell after a&nbsp;no-confidence vote.

Shares in Australia and equity futures in Japan rose, while contracts for Hong Kong were slightly lower.

A consortium seeking to buy out Hong Kong-listed ESR Group Ltd has submitted a binding offer for the logistics real estate firm, a move that would bring the months-long takeover pursuit one step closer to an end.

ESR gets US$7 bil binding takeover offer from buyout group

US private payrolls increased at a moderate pace in November, while annual wages for workers staying in their jobs edged up for the first time in 25 months.