<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

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Australia’s markets watchdog sued HSBC Bank of Australia Ltd. for failing to protect customers who lost millions of dollars in scams. 

HSBC received about 950 reports of unauthorized transactions between January 2020 and August 2024, resulting in customer losses of about A$23 million ($14.6 million), according to an Australian Securities and Investments Commission statement Monday.

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Wall Street is starting to sour on the dollar as President-elect Donald Trump’s policies and the Federal Reserve’s interest-rate cuts will likely put pressure on the greenback in the latter portion of 2025.

From Morgan Stanley to JPMorgan Chase, roughly a half dozen sell-side strategists, are now forecasting the world’s reserve currency will peak as early as mid next year before starting to decline, with Societe Generale seeing the ICE US Dollar Index falling 6% at the end of next year.

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The Works Ministry (KKR) is projecting spending in the construction sector of RM200 billion, covering the government sector, government-linked companies (GLCs), government-linked investment companies (GLICs) and the private sector, next year.

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PKR president Datuk Seri Anwar Ibrahim on Sunday confirmed that preliminary discussions have taken place within the party regarding rumours of Tengku Datuk Seri Zafrul Abdul Aziz joining PKR.

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China's CNOOC Ltd has sold its US subsidiary, together with its upstream oil and gas assets in the Gulf of Mexico, to British chemicals group INEOS, according to a CNOOC statement issued on Saturday.

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<p>&nbsp;Wall Street is starting to sour on the dollar as President-elect Donald Trump’s policies and the Federal Reserve’s interest-rate cuts will likely put pressure on the greenback in the latter portion of 2025.</p>

<p>From Morgan Stanley to JPMorgan Chase, roughly a half dozen sell-side strategists, are now forecasting the world’s reserve currency will peak as early as mid next year before starting to decline, with Societe Generale seeing the ICE US Dollar Index falling 6% at the end of next year.&nbsp;</p>


<p>South Korea’s currency and its stock market will take center stage on Monday, as investors respond to a weekend vote to impeach President Yoon Suk Yeol following his attempt to impose martial law.</p>

<p>The Korean won will be the main focus for traders, after its heavy losses during the country’s&nbsp;recent political chaos.</p>


<p>Australia’s markets watchdog sued HSBC Bank of Australia Ltd. for failing to protect customers who lost millions of dollars in scams.&nbsp;</p>

<p>HSBC received about 950 reports of unauthorized transactions between January 2020 and August 2024, resulting in customer losses of about A$23 million ($14.6 million), according to an Australian Securities and Investments Commission&nbsp;statement&nbsp;Monday.</p>


<p>What was supposed to be a comeback year for Boeing Co. has turned into its worst stock-market plunge since 2008, and if Wall Street is right, the plane-maker’s shares may have only a modest recovery in store in 2025.&nbsp;</p>

<p>The stock is down 35% this year, placing it among the 20 biggest decliners in the S&amp;P 500 Index.</p>


<p>The employment landscape in Malaysia has undergone a significant transformation. Companies are navigating a talent ecosystem that is influenced by digitalisation, flexible work arrangement (FWA) and a growing emphasis on the diversity, equity and inclusion (DEI) agenda.</p>


<p>In the pursuit of environmental, social and governance (ESG) best practices, it is easy to overlook gaps that are worthwhile addressing in creating a foundation for sustainability that is ultimately rewarding for an organisation.</p>
