99 Speed Mart Retail Holdings Bhd (99 Holdings) has signed a retail underwriting agreement with CIMB Investment Bank Bhd (CIMB IB), Affin Hwang Investment Bank Bhd, and RHB Investment Bank Bhd, in conjunction with its upcoming initial public offering (IPO).

99 Speed Mart Retail Holdings inks underwriting deal, seeks 3Q listing

OCI Holdings Co is considering listing its Malaysian polysilicon unit on the Kuala Lumpur stock exchange to raise as much as RM1.5 billion, according to people familiar with the matter.

Korea’s OCI said to be weighing RM1.5b IPO for Malaysian unit 

SINGAPORE (July 22): Malaysian mobile data service company U Mobile is planning a domestic initial public offering (IPO) that is expected to raise more than US$500 million (approximately RM2.34 billion) as early as the first half of 2025, according to two sources with direct knowledge of the matter.

U Mobile plans over US$500m Malaysia IPO in 2025 — Reuters

Sik Cheong Bhd, which repackages and sells cooking oil, launched its initial public offering (IPO) that would raise RM23.22 million ahead of its listing on the ACE Market.

Cooking oil distributor Sik Cheong launches RM23m IPO ahead of ACE Market listing

Well Chip Group Bhd (KL:WELLCHIP), which is set to be listed on the Main Market of Bursa Malaysia next Tuesday (July 23), said its net profit for the first quarter ended March 31, 2024 (1QFY2024) came in at RM11.9 million or 2.6 sen per share.

Johor-based pawnbroker Well Chip posts RM11.9 mil quarterly net profit ahead of listing

The Philippines' Hann Resorts is planning an initial public offering (IPO) worth up to 20 billion pesos (US$342.2 million or RM1.6 billion), the gaming regulator said on Tuesday, as the integrated casino-resort operator seeks to cash in on the booming gambling sector.

Hann Resorts plans up to US$342m Philippines IPO next year, says regulator

Animation production house Kucingko Bhd, which is en route to listing on the ACE Market of Bursa Malaysia on July 26, 2024, said its initial public offering (IPO) has been oversubscribed by 99.02 times.

Public portion of Kuchingko’s IPO oversubscribed by 99.02 times

Elridge Energy Holdings Bhd (KL:EEHB), which manufactures biomass fuel products, said on Monday it has signed an underwriting agreement with KAF Investment Bank for its initial public offering (IPO) on the ACE Market of Bursa Malaysia.

Elridge Energy signs underwriting agreement with KAF for ACE Market IPO

Automotive manufacturer parts supplier KHPT Holdings Bhd has received approval from Bursa Malaysia for its initial public offering (IPO) on the ACE Market.

Autoparts maker KHPT Holdings gets approval for ACE Market IPO

TMK Chemical Bhd, a chemical management and storage company, has filed for an initial public offering (IPO) on the Main Market to raise funds for expansion of one of its plants and the construction of a new facility in Singapore.

TMK Chemical, controlled by youngest Lee brother of KLK, files for Main Market IPO

Chief executives of some of the largest private financial technology firms are pushing for bolder reforms to the UK’s listing rules, saying an overhaul announced this week doesn’t go far enough to revive London share offerings.

London’s IPO hopefuls say overhaul of listing rules not enough

TopVision Eye Specialist Bhd (KL:TOPVISN) has filed for an initial public offering (IPO) on ACE Market as part of the medical eyecare company’s transfer from the LEAP Market and raise fresh funds for expansion.

TopVision files for ACE Market IPO to raise funds, transfer listing from LEAP Market

Johor-based pawnbroker Well Chip Group Bhd, which is en route to listing on the Main Market of Bursa Malaysia on July 23, said its initial public offering (IPO) has been oversubscribed by 12.87 times.

Public portion of Well Chip's IPO oversubscribed by 12.87 times

Colform Group Bhd, a Sabah-based manufacturer of steel roofing, steel cladding and other related steel products, has filed for an initial public offering (IPO) on the ACE Market to raise funds to set up a new colour coil coating production line, to build a new storage facility, and to expand its business to Peninsular Malaysia.

Sabah-based steel products manufacturer Colform Group files for ACE Market IPO

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Premier: Sarawak expects to ink S&P on Affin Bank deal in a month

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Treasuries rally as data points to a September rate cut

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce & Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.

Miami condo tower moves on from brokers facing rape allegations

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Deputy PM Fadillah pays courtesy visit to Vietnamese PM, strengthens bilateral cooperation

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Wall Street rebounds on tech recovery, small caps jump after benign inflation data

Malaysia has urged dialogue partners attending the Asean Post-Ministerial Conference in Laos to support a ceasefire in Gaza and end the brutal killings of Palestinians.

Foreign Minister Datuk Seri Mohamad Hasan said Malaysia, along with Indonesia and Brunei, brought forward this motion during the meeting at the National Convention Centre (NCC) here.

Malaysia urges Asean dialogue partners to support ceasefire in Gaza

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

US charges Citron's Andrew Left over alleged multi-million fraud scheme

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

Malaysia steps up efforts to finalise South China Sea code of conduct

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

AirAsia X, Capital A, Hibiscus, Dagang NeXchange, ViTrox, Ekovest, Knusford, Alam Maritim, Datasonic, Kumpulan Kitacon, DXN, Homeritz, Westport, MGRC 

VIENTIANE (July 26): The Asean Post Ministerial Conference kicked off in the Laos capital here on Friday, as Asean foreign ministers engaged with top diplomats from dialogue partners to discuss various regional and international issues of common interest.

Asean Post Ministerial Conference kicks off in Laos; regional, global issues in focus

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

Ekovest Bhd (KL:EKOVEST) said it has agreed to a further extension of time to discuss a merger between its wholly owned subsidiary Ekovest Construction Sdn Bhd (ECSB) and Knusford Bhd (KL:KNUSFOR).

Ekovest agrees to six-month extension for merger discussion between subsidiary and Knusford

US prices increased moderately in June as the declining cost of goods tempered a rise in the cost of services, underscoring an improving inflation environment that could position the Federal Reserve to begin cutting interest rates in September.

US inflation rises moderately, consumer spending cools

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

EVENING 5: Five things you need to know today

The prestigious five-star Lexis Hibiscus 2 luxury resort is currently under construction by the KL Metro Group and is expected to be completed by 2029, said Negeri Sembilan Menteri Besar Datuk Seri Aminuddin Harun.

Construction of RM1.6 bil GDV Lexis Hibiscus 2 resort will be completed in 2029

Practice Note 17 (PN17) company Alam Maritim Resources Bhd (KL:ALAM) has announced its regularisation plan, which includes a share capital reduction of RM440 million, 10-to-one share consolidation, an issuance of renounceable rights shares with warrants and a scheme of arrangement with its creditors.

Alam Maritim submits regularisation plan to exit PN17 status

Health and wellness direct selling company DXN Holdings Bhd (KL:DXN) said on Friday its net profit rose 10.26% in the first quarter from a year earlier due to higher revenue recognised from overall operating segments.&nbsp;

DXN Holdings 1Q net profit up 10.26%, targets market presence in Zambia, Ghana  

Wall Street bounced back on Friday as megacap tech and chip stocks recovered from the week's pummeling, while a largely in-line key inflation reading kept bets for an early start to interest-rate cuts alive.

Upholstery furniture products manufacturer Homeritz Corp Bhd’s (KL:HOMERIZ) net profit surged 46.37% in the third quarter from a year earlier, thanks to higher sales volume and stronger US dollar. &nbsp;

Net profit for three months ended May 31, 2024 (3QFY2024) climbed to RM9.09 million or earnings per share of 1.96 sen, from RM6.21 million or 1.34 sen per share recorded in 3QFY2023. &nbsp;

Homeritz’s 3Q net profit soars 46.37% on higher sales and strong greenback

Cyberview Sdn Bhd has signed three Memoranda of Understanding (MOUs) with three companies to make Cyberjaya a global technology hub.

Chief executive officer Kamarul Ariffin Abdul Samad said the companies involved were Permodalan Negeri Selangor Bhd (PNSB), Selangor Information Technology &amp; Digital Economy Corporation (SIDEC) and digital infrastructure company Equinix Malaysia.

Cyberview signs three MOUs to make Cyberjaya a global technology hub

The developer of a supertall condo tower in Miami’s Brickell neighbourhood has hired a new sales team after ousting an embattled real estate brokerage from the project.

One Sotheby’s International Realty has taken over marketing at 888 Brickell Dolce &amp; Gabbana Miami, JDS Development’s pre-construction building overlooking Biscayne Bay in the city’s financial centre.&nbsp;

SARAWAK expects to formalise a deal to raise its stake in Affin Bank Bhd to about 30% in about a month, according to the state’s premier Tan Sri Abang Johari Openg.

In an exclusive interview with The Edge in Kuala Lumpur last Friday (July 19), Abang Johari said the state is committed to...

Deputy Prime Minister Datuk Seri Fadillah Yusof paid a courtesy visit to Vietnamese Prime Minister Pham Minh Chinh on Friday.

"During the meeting with His Excellency, I reaffirmed the commitment of the prime minister and the Malaysian government to continue strengthening cooperation between Malaysia and Vietnam," he said in a post on the social media platform X.

Kumpulan Kitacon Bhd (KL:KITACON) has secured a RM54.5 million contract to undertake the construction of 186 terrace houses in Rawang, Selangor.

Kumpulan Kitacon bags RM54.5m job to build houses in Rawang

Treasuries are rising at the end of a volatile week as the Federal Reserve’s favourite inflation gauge cemented traders’ expectations for an interest-rate cut in September.

The advance pushed yields lower across the curve on Friday, with two- and 10-year yields down by about five basis points (bps) to 4.38% and 4.2%, respectively.

Penang Port Sdn Bhd (Penang Port) on Friday announced the acquisition of five Kalmar container handling machines to optimise operations and improve service levels.

Penang Port acquires Kalmar container handling equipment to enhance services

US authorities filed criminal and civil charges against prominent activist short seller Andrew Left for an alleged long-running market manipulation scheme involving bets on stocks including Nvidia and Tesla, they said on Friday.

Hungary will face fuel shortages from September if full Russian oil flows are not restored, a government official said on Friday, accusing Ukraine of blackmailing it by partially suspending supplies.

Eastern European Union (EU) members Slovakia and Hungary have been hit by a stop in flows from Russian group Lukoil coming via Ukraine after sanctions were imposed on the company.

Hungary says it will face fuel shortages from September without Lukoil supplies

Malaysia, as the country coordinator for Asean-China Dialogue Relations, will intensify efforts to finalise the Code of Conduct in the South China Sea, said Foreign Minister Datuk Seri Mohamad Hasan.

He said Malaysia, which assumed the role of country coordinator this year, aims to establish a code of conduct accepted by all parties.

A new recruitment of 3,950 staff, comprising 3,200 medical officers, 350 dental officers and 400 pharmacy officers, will be made through contract (interim) appointments, the Ministry of Health (MOH) said.

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