Kucingko Bhd has fixed its initial public offering (IPO) price at 30 sen per share to gross RM60 million from the ACE Market, with the company set to be the first listed animation production studio in Malaysia.

Kucingko fixes IPO price at 30 sen, set to be first animation studio on Bursa

KUALA LUMPUR (June 28): ACE Market-bound Sik Cheong Bhd has entered into an underwriting agreement with TA Securities Holdings Bhd in conjunction with its upcoming initial public offering (IPO).

ACE Market-bound Sik Cheong inks underwriting deal with TA Securities

A possible revival in IPOs in Hong Kong after a pickup in Chinese regulatory approvals, and a string of mega deals in India are expected to make Asia a bright spot for equity deals in the second half of this year, bankers and analysts said.

Asia to emerge as equity deals hot spot as India activity surges

KUALA LUMPUR (June 27): One-stop food processing and packaging machinery solutions provider EPB Group Bhd, which is set to debut on the ACE Market of Bursa Malaysia on Aug 23, has set its initial public offering (IPO) price at 56 sen, to raise RM62.48 million for the company and its offerors.

ACE Market-bound EPB sets IPO price at 56 sen, to raise RM62.5m

ohor Plantations Group Bhd (KL:JPG) announced that the 50 million new shares offered to the Malaysian public have been oversubscribed by 2.18 times.

In a statement, the group said it received a total of 9,555 applications for 159.01 million shares worth RM133.57 million from the Malaysian public.

Johor Plantations sees oversubscription of 2.18 times for 50 million shares offered under IPO

Northern Solar Holdings Bhd, which installs solar panels and operates solar farms, has filed for an initial public offering (IPO) on the ACE Market to raise funds for expansion.

Northern Solar, backed by Lagenda Properties, files for ACE Market IPO 

Well Chip Group Bhd, the first pawnbroker en route to the Main Market of Bursa Malaysia, expects rising gold prices to boost its ability to lend more to its customers.

The company’s loan size is determined by the value of the collateral and more than 90% of its collateral from its customers is gold, said Well Chip’s non-executive director Yeah Chia Kai. That would allow the company to collect a higher amount of interest from its creditors, he noted.

Main Market-bound Well Chip expects rising gold prices to boost lending

Well Chip Group Bhd — principally involved in the provision of pawnbroking services and the trading of jewellery and gold — aims to raise RM172.5 million from its initial public offering (IPO) exercise, ahead of its listing on the Main Market of Bursa Malaysia.

Main Market-bound pawnbroker Well Chip aims to raise RM172.5m from IPO

Shein confidentially filed papers with Britain's markets regulator in early June, two sources said, kicking off the process for a potential London listing by the online fast-fashion retailer later in the year.

Shein filed for London listing in early June — Reuters

Johor Plantations Group Bhd has fixed its institutional and final retail price under its initial public offering (IPO) at 84 sen per share.

This was decided following the completion of the bookbuilding process under the institutional offering on Monday, said RHB Investment Bank on behalf of the group in a bourse filing. The retail offering also closed on Monday

Johor Plantations' final retail price under IPO fixed at 84 sen

KUALA LUMPUR (June 24): Go Hub Capital Bhd (KL:GOHUB) — an information technology (IT) services provider en route to listing on Bursa Malaysia’s ACE Market on July 3 — announced that the 20 million new shares offered to the Malaysian public have been oversubscribed by 78.71 times.

Go Hub sees oversubscription of 78.7 times for 20 million shares offered under IPO

Frozen food manufacturer and wholesale retailer company Ocean Fresh Bhd on Monday said investors had snapped up its RM14.01 million initial public offering (IPO) shares ahead of its listing on the ACE Market.

Ocean Fresh IPO shares oversubscribed 76.22 times by public

Engineering firm UUE Holdings Bhd, which is en route to listing on the ACE Market of Bursa Malaysia on July 2, said its initial public offering (IPO) has been oversubscribed by 103.83 times.

ACE Market-bound engineering firm UUE's IPO shares for public oversubscribed by over 100 times

Nasdaq Inc is once again increasing scrutiny of small initial public offerings from China and Hong Kong to avoid a repeat of the wild swings that followed a handful of deals two years ago, according to people familiar with the matter.

Nasdaq boosts scrutiny of investors in IPOs from China, HK — Bloomberg

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

Maxis, CelcomDigi, YTL Power, TM, MAHB, Superlon, Cypark, NTPM, MCE, Astino, Hiap Teck, CIMB, Sentoria, UEM Sunrise, Haily, Coastal Contracts 

Digital Nasional Bhd announced on Friday that four mobile network operators (MNOs) have completed their respective share subscription agreements (SSAs) and acquired a 16.3% stake each in the 5G special purpose vehicle — higher than the 14% they were initially expected to take up — as Telekom Malaysia Bhd (KL:TM) has yet to complete its SSA.

Maxis, CelcomDigi, U Mobile and YTL Power buy 16.3% stake each in DNB instead of 14%, as TM yet to take up its portion

US stocks rose broadly on Friday after an in-line inflation report strengthened hopes for interest rate cuts in September, though Nike shares slumped after a dismal annual sales forecast.

Wall Street jumps after cooling inflation data

US monthly inflation was unchanged in May as a modest increase in the cost of services was offset by the largest drop in goods prices in six months, drawing the Federal Reserve closer to start cutting interest rates later this year.

US inflation ebbs in May as goods prices fall

Apple Inc’s iPhone shipments in China rose 40% in May, continuing a recent rebound fuelled by heavy discounting from major retailers in the run-up to the country’s June shopping festival.

Smartphone shipments climbed more than 13% but foreign brands — of which Apple comprises the vast majority — grew almost four times faster, according to Bloomberg News calculations off official data.

Apple’s China iPhone shipments jump 40% after steep discounts

Nike Inc shares sank after the sneaker company’s full-year outlook missed expectations, stoking investor concerns about waning demand and competition from upstarts On and Hoka, as well as rival Adidas AG.

The world’s largest sportswear company sees revenue declining in the mid-single digits in the company’s current fiscal year, which began this month.

Nike tumbles on sales warning as rival Adidas pushes ahead

Perikatan Nasional (PN) will be represented by a Parti Pribumi Bersatu Malaysia (Bersatu) candidate in the Nenggiri state by-election on August 17.

Bersatu candidate to represent Perikatan in Nenggiri poll, says Muhyiddin

Green enery solutions group Cypark Resources Bhd (KL:CYPARK) has registered a net loss of RM57.92 million for its fourth quarter ended April 30, 2024 (4QFY2024) on a revenue of RM56.32 million.  

There were no comparative figures as the group had changed its financial year end from Oct 31, 2022  to April 30, 2023.

Cypark posts RM58 mil net loss in 4Q on derecognition of deferred tax assets

Heavy rainfall and winds brought down a roof at the main airport in New Delhi on Friday, killing one person and shutting down a busy domestic terminal, while flooded streets and traffic snarls caused widespread disruption in the Indian capital.

Roof collapse at Delhi airport kills one, as heavy rain disrupts Indian capital

The Federal Aviation Administration (FAA) said on Friday it will investigate a Southwest Airlines  flight that departed from a temporarily closed runway in Maine earlier this week.

The FAA said on Tuesday an airport vehicle exited the runway before Southwest Flight 4805, a Boeing 737, began its takeoff roll and departed around 5.45am local time (0945 GMT).

FAA to investigate Southwest flight that departed from closed runway in Maine

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

Digital Nasional Bhd announced on Friday that four mobile network operators (MNOs) have completed their respective share subscription agreements (SSAs) and acquired a 16.3% stake each in the 5G special purpose vehicle — higher than the 14% they were initially expected to take up — as Telekom Malaysia Bhd (KL:TM) has yet to complete its SSA.

Here’s a quick look at some of the stories that made headlines today.

EVENING 5: Five things you need to know today

Green enery solutions group Cypark Resources Bhd (KL:CYPARK) has registered a net loss of RM57.92 million for its fourth quarter ended April 30, 2024 (4QFY2024) on a revenue of RM56.32 million. &nbsp;

There were no comparative figures as the group had changed its financial year end from Oct 31, 2022 &nbsp;to April 30, 2023.

US stocks rose broadly on Friday after an in-line inflation report strengthened hopes for interest rate cuts in September, though Nike shares slumped after a dismal annual sales forecast.

Property developer UEM Sunrise Bhd said it will file an appeal with the High Court here after the Special Commissioners of Income Tax ruled in favour of the Inland Revenue Board (IRB) that the additional tax and penalty totalling RM73.84 million are to be maintained.

UEM Sunrise to file appeal over RM74 mil additional tax and penalty paid to IRB

Malaysia has retained its position as the fifth largest liquefied natural gas (LNG) exporter in 2023, after Russia, Qatar, Australia and the US.

According to the International Gas Union’s 15th annual World LNG Report 2024 released on Friday, Malaysia’s total LNG export in 2023 was 26.75 million tonnes (MT), constituting about 7% of the total LNG traded globally.

Malaysia retains position as fifth largest LNG exporter in 2023

Apple Inc’s iPhone shipments in China rose 40% in May, continuing a recent rebound fuelled by heavy discounting from major retailers in the run-up to the country’s June shopping festival.

Smartphone shipments climbed more than 13% but foreign brands — of which Apple comprises the vast majority — grew almost four times faster, according to Bloomberg News calculations off official data.

The Malaysian Anti-Corruption Commission (MACC) detained another individual, the chief assistant director of a statutory body, after he was believed to have been involved in a corruption case involving RM1.6 billion, pertaining to two highway projects in the Klang Valley.

Assistant director of statutory body detained in MACC’s highway graft probe 

US monthly inflation was unchanged in May as a modest increase in the cost of services was offset by the largest drop in goods prices in six months, drawing the Federal Reserve closer to start cutting interest rates later this year.

NTPM Holdings Bhd (KL:NTPM) slipped into the red in its fourth financial quarter ended April 30, 2024 (4QFY2024) from a year earlier, dragged down by losses in its tissue paper products business segment. &nbsp;

NTPM slips into the red in 4Q amid losses in tissue paper products business  

Globaltec Formation Bhd's (GFB) subsidiary NuEnergy Gas Ltd (NuEnergy) plans to sell coal bed methane (CBM) to PT Perusahaan Gas Negara Tbk (PGN), a leading natural gas distribution and transportation player in Indonesia.&nbsp;

Globaltec subsidiary signs HOA to sell natural gas to Indonesian company

MCE Holdings Bhd (KL:MCEHLDG) saw its net profit plummet by 48.6% for the third quarter ended April 30, 2024 (3QFY2024) due to higher operating expenses and effective tax rates.

MCE’s 3Q profit down 49% on higher operating expenses, tax rates

Sentoria Group Bhd (KL:SNTORIA) announced on Friday that its chief executive officer (CEO) Datuk Loh Yuen Tuck will resume his duties immediately after a one-month suspension, due to alleged misconduct.

Sentoria CEO Loh Yuen Tuck resumes duties after one-month suspension

Perikatan Nasional (PN) will be represented by a Parti Pribumi Bersatu Malaysia (Bersatu) candidate in the Nenggiri state by-election on August 17.

KUALA LUMPUR (June 28): The Malaysian-German Chamber of Commerce and Industry (MGCC) has appointed Geetha Kandiah as its new president, following the chamber’s annual general meeting (AGM) on Thursday (June 27).

Geetha Kandiah named president of Malaysian-German Chamber of Commerce

KUALA LUMPUR (June 28): Oil and gas services provider Coastal Contracts Bhd (KL:COASTAL) said the group has secured a one-year extension of its charter contract for a liftboat, worth RM64.1 million.

Coastal Contracts bags RM64m liftboat charter contract extension

Builder Haily Group Bhd (KL:HAILY) has secured a RM53.72 million contract from Venice View Development Sdn Bhd to build 221 units of two-storey houses, three units of Tenaga Nasional Bhd (TNB) sub-stations and a TNB main switch station in Pulai, Johor.

Haily bags RM54m residential construction job in Johor

The Federal Aviation Administration (FAA) said on Friday it will investigate a Southwest Airlines &nbsp;flight that departed from a temporarily closed runway in Maine earlier this week.

The FAA said on Tuesday an airport vehicle exited the runway before Southwest Flight 4805, a Boeing 737, began its takeoff roll and departed around 5.45am local time (0945 GMT).

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