<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 3): Vortex Consolidated Bhd said it plans to acquire a Johor-based company for RM21.03 million to diversify into the oil palm plantation business.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The company, Teras Gemumi Sdn Bhd (TGSB), through its subsidiary Gemumi Multi Plantations Sdn Bhd (GMPSB), has 1,285 acres of oil palm-planted land in Kota Tinggi.</p></div>

<div class=newsTextDataWrapInner><p>The land was awarded by the Johor government to Lembaga Kemajuan Johor Tenggara (Kejora), which then sub-leased it to GMPSB, said Vortex in a bourse filing.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>It added that the acquisition will enable the group to reduce its reliance on earnings contributions from its current businesses, comprising mainly information communication technology and property development.</p></div>

<div class=newsTextDataWrapInner><p>The acquisition is expected to be completed in the second quarter of 2022, said Vortex.</p></div>

<div class=newsTextDataWrapInner><p>According to the group, TGSB recorded a revenue of RM1.23 billion for the year ended Dec 31, 2019 (FY19), RM1.61 billion for FY20 and RM1.09 billion for FY21.</p></div>

<div class=newsTextDataWrapInner><p>Vortex shares closed unchanged at seven sen on Thursday (March 3), giving the group a market capitalisation of RM53.64 million.&nbsp;</p></div>


KUALA LUMPUR (March 3): Vortex Consolidated Bhd said it plans to acquire a Johor-based company for RM21.03 million to diversify into the oil palm plantation business.

Vortex announces diversification into oil palm business

Japan's economy expanded by an annualised 0.9% over the July-September quarter, government data showed on Friday, slowing from the previous three months due to tepid capital spending though an unexpected pickup in consumption added a bright spot.

Japan's economy slows in 3Q on tepid capex; consumption picks up

LIMA (Nov 14): Chinese President Xi Jinping launched a week-long diplomatic blitz of South America on Thursday by inaugurating a massive deep-water port in Peru, a $1.3 billion investment by Beijing as it seeks to expand trade and influence on the continent.

With China's demand for...

Starting Latin America trip, Xi Jinping opens huge port in Peru funded by China

KUALA LUMPUR (Nov 15): Shares of Metro Healthcare Bhd (KL:MHCARE) edged higher on Friday in its trading debut on the ACE Market, after the fertility and maternity specialist raised RM39.16 million from its initial public offering (IPO).

Metro Healthcare ekes out tiny gain on ACE Market debut after RM39 mil IPO

Citigroup is being probed by US government agencies over its ties to sanctioned Russian billionaire Suleiman Abusaidovich Kerimov, Barron's reported on Thursday, citing a person familiar with the matter.

Citigroup facing US probe over ties to sanctioned Russian billionaire — report

Nissan Motor shares jumped as much as 6% in early Tokyo trading on Friday after Japan's Diamond Online magazine reported that activist investor Oasis Management had taken a stake in the automaker.

Nissan shares surge after report activist investor Oasis has stake

Lenovo posted a 24% revenue rise in its fiscal second quarter from a year earlier, spurred partly by sales growth for computers that can handle artificial intelligence workloads as the global personal computer industry showed signs of recovery.

Lenovo 2Q revenue jumps 24% on premium PC sales, AI push

LIMA, Peru (Nov 15): Malaysia stands ready to align its policies to match new demands and ever-evolving industries in a multi-pronged approach to continuously attract high-value investments.

Anwar: Malaysia stands ready to align policies to match new demands, industries

President-elect Donald Trump's transition team is planning to kill the US$7,500 (RM33,666) consumer tax credit for electric-vehicle purchases as part of broader tax-reform legislation, two sources with direct knowledge of the matter told Reuters.

Trump's transition team aims to kill Biden EV tax credit

Chinese President Xi Jinping said on Thursday during talks with Peru's Dina Boluarte in Lima that China is willing to take the Chancay port, built and controlled by Chinese state-owned Cosco Shipping, as a starting point to forge a new maritime-land corridor between China and Latin America.

China's Xi says Chancay Port the start of a new maritime-land corridor between China and Latin America

LIMA, Peru (Nov 15): In a world increasingly dominated by artificial intelligence (AI) and digital technologies, the Malaysian government also recognises that bridging the digital divide is crucial for equitable development across all segments of society.

Anwar: Tech, AI is beyond just an access

<p>WASHINGTON (Nov 14): No major US trading partner manipulated its currency in the year to June 30, the Treasury Department said on Thursday in the Biden administration's final semi-annual currency report before turning over policing of foreign exchange practices to President-elect&nbsp;Donald Trump.</p>


US Treasury finds no currency manipulation by major trading partners, drops Malaysia off from its monitoring list

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


Bumi Armada, MISC, Berjaya Food, Mr DIY, Prolintas, Lysaght, Keyfield, Teo Seng, YTL Power, Ranhill Utilities, Seal and LBS Bina

<p>While trade tensions between the US and China are bringing more investments to Southeast Asia, including Malaysia, worries over slower global growth and higher costs loom, according to Malaysia’s trade and investment chief.</p>


Zafrul flags longer term pain from US-China rift

<p>Bina Puri Holdings Bhd (KL:BPURI) said on Thursday that its associate company KL-Kuala Selangor Expressway Bhd (Latar) has won an arbitration case against Prolintas Expressway Sdn Bhd and was awarded RM46.13 million.</p>


Bina Puri's associate wins RM46 mil in arbitration case against Prolintas 

<p>Asian equities were set to climb early Friday even as traders scaled back expectations for a Federal Reserve rate cut next month which weighed on US stocks and strengthened the dollar.</p>


Dollar rises with December US Fed cut now in doubt

<p>KUALA LUMPUR (Nov 15): Shares of Metro Healthcare Bhd (KL:MHCARE) edged higher on Friday in its trading debut on the ACE Market, after the fertility and maternity specialist raised RM39.16 million from its initial public offering (IPO).</p>


<p>Vietnam President Luong Cuong forcefully warned of the dangers of a world with higher tariffs, one of the strongest criticisms so far of US President-elect Donald Trump’s approach to trade as world leaders gather this week in Peru.</p>


Vietnam leader warns trade wars lead to poverty in dig at Trump

<p>Engineering outfit Pestech International Bhd (KL:PESTECH) said Shandong Power Equipment Co Ltd (Speco) has initiated arbitration proceedings against its wholly owned PESTECH Sdn Bhd (PSB) over what Speco claimed were unpaid dues related to the supply of transformers.</p>


Pestech hit by arbitration claim over RM7.7m worth of alleged unpaid dues

<p>&nbsp;Nissan Motor Co will have a year of breathing space in 2025 before hitting a record bond maturity wall as concerns mount about its ability to generate cash.</p>


Nissan faces record debt bill with one year left to fix finances

<p>Stocks fell after Jerome Powell signalled there’s no need for the Federal Reserve to rush with rate cuts as the economy is holding up.</p>


Stocks get hit as Powell’s remarks curb US Fed wagers

<p>US regulators led by the Federal Reserve have refused to endorse a plan that would have seen the Basel Committee on Banking Supervision push lenders to disclose their climate risk, according to people familiar with the matter.</p>


Fed refuses to back Basel climate plan, leaving talks in limbo

<p>Malaysian Prime Minister Datuk Seri Anwar Ibrahim’s government faces criticism after it awarded a tender to build the country’s second 5G network to one of the smallest players in the telecommunications industry.</p>


Anwar faces scrutiny over 5G tender pick

<p>Sunway Real Estate Investment Trust (KL:SUNREIT), which recently completed its acquisition of shopping mall 163 Retail Park in Mont Kiara, announced that its net property income (NPI) increased 5.5% to RM144.3 million for the third quarter ended Sept 30, 2024 (3QFY2024) on back of a 9.3% growth on revenue.</p>


Sunway REIT's NPI up 5.5% in 3QFY2024

<p>The Ministry of Economy is committed to ensuring that phase one of the Kedah Rubber City (KRC) development will be completed within a year, said Economy Minister Rafizi Ramli.</p>


Rafizi: Govt committed to ensuring phase one of Kedah Rubber City development completed within a year

<p>KUALA LUMPUR (Nov 15): Shares of Berjaya Food Bhd (KL:BJFOOD) extended decline to their lowest in six weeks on Thursday, after the café-and-restaurant operator reported its fourth consecutive quarter of losses.</p>


Berjaya Food shares extend decline to six-week low after another quarterly losses

<p>Small and medium enterprises (SMEs) play a crucial role in driving economic growth within the Asia-Pacific Economic Cooperation (Apec) region, particularly when it comes to fostering inclusive development, said Investment, Trade and Industry Minister Tengku Datuk Seri Zafrul Abdul Aziz.</p>


SMEs play crucial role in driving growth in Apec economies, fostering inclusivity — Tengku Zafrul

<p>The government will draft the Government Procurement Bill (GP Bill) in taking specific steps to increase transparency in the government procurement process, according to the Ministry of Finance.</p>


Govt procurement draft bill to be tabled in Parliament next year

<p>President-elect Donald Trump ruled out giving a post to JPMorgan Chase &amp; Co’s Jamie Dimon in his second-term administration in a jab at the prominent Wall Street chief executive officer.</p>


Trump says no Dimon in administration, picks Kennedy for cabinet

<p>Ford Motor Co agreed to a US$165 million (RM733.5 million) civil penalty to settle allegations the company failed to recall cars with defective rearview cameras in a timely manner, the second largest fine ever levied by the National Highway Traffic Safety Administration (NHTSA).</p>


Ford hit with near-record US$165 mil penalty on recall failure

<p>Chinese President Xi Jinping will arrive in Lima on Thursday, kicking off a week-long diplomatic blitz in Latin America by inaugurating the massive Chancay deepwater port, one of Beijing's most ambitious infrastructure investments in Latin America.</p>
