YTL Cement Bhd, a unit of conglomerate YTL Corp Bhd (KL:YTL), is planning to buy an 81.34% stake in Singapore-listed NSL Ltd for S$227.61 million (RM792.32 million) in cash, to expand its industrialised building systems (IBS) business.

YTL Cement to acquire 81% stake in Singapore firm for RM792 mil for IBS expansion

Robert Bosch GmbH plans to buy Johnson Controls International plc’s heating and ventilation assets for US$8 billion (RM37.38 billion), as the German company diversifies its portfolio away from automotive supplies.

Bosch to buy JCI air-conditioning assets in US$8b deal

Italian energy major Eni SpA signed a temporary exclusivity agreement with KKR & Co to sell a stake in its Enilive unit, potentially worth more than €3 billion (US$3.3 billion or RM15.4 billion).

KKR in exclusive talks with Italy’s Eni to buy Enilive stake

(July 23): Ride-hailing and delivery provider Grab Holdings Ltd acquired Singapore restaurant reservation app Chope for an undisclosed sum, expanding its services as competition over users intensifies.

Grab buys Singapore’s Chope to add dining reservation service

Goodyear Tire & Rubber will sell its off-the-road equipment tire business to Japan's Yokohama Rubber for US$905 million (RM4.2 billion) in cash, it said on Monday, as part of a drive to streamline its business.

Goodyear to sell off-the-road tire business to Yokohama for US$905m

India's antitrust body has asked Reliance Industries and Walt Disney around 100 questions linked to their US$8.5 billion (RM39.8 billion) India media assets merger, including details on sports rights as it heightens its scrutiny of the deal, two sources told Reuters.

India sends 100 antitrust queries for Reliance, Disney US$8.5b merger — Reuters

Exxon Mobil Corp has agreed to sell its Malaysian oil and gas (O&G) assets to state energy firm Petroliam Nasional Bhd (Petronas), exiting the country's upstream sector where it used to be a dominant producer, two sources with direct knowledge of the matter said.

ExxonMobil selling Malaysian O&G assets to Petronas, Reuters reports

Unilever plc has kicked off initial discussions with buyout firms about a possible sale of its ice cream business, which could be worth as much as £15 billion (US$19.4 billion or RM90.71 billion), according to people familiar with the matter.

Unilever in talks to sell ice cream unit for £15b, Bloomberg reports

Nippon Steel Corp has hired former US secretary of state Mike Pompeo to help complete a proposed purchase of United States Steel Corp (US Steel), a deal facing bipartisan opposition from President Joe Biden and Republican presidential candidate Donald Trump.

Japan's Nippon Steel hires ex-secretary of state Pompeo to help clinch purchase of US Steel

The Sarawak government and the Armed Forces Fund Board (LTAT) will proceed with a sale and purchase agreement (SPA) to raise the state government’s stake in Affin Bank on securing regulatory approvals, said Sarawak Premier Tan Sri Abang Johari Tun Openg.

Abang Jo: Sarawak govt, LTAT to ink Affin Bank deal after securing regulatory approvals 

A planned sale and purchase (S&P) agreement between Sarawak and Affin Bank Bhd’s (KL:AFFIN) biggest shareholder — the Armed Forces Fund Board (LTAT) — that would have formalised the state’s plan to increase its stake in the lender to around 30% from 4.8% currently, has been delayed, sources said.

Sarawak and LTAT to delay inking of S&P agreement in Affin Bank deal, sources say  

Maxis Bhd (KL:MAXIS), Malaysia’s second-biggest mobile network operator, likely explored buying U Mobile in a bid to narrow the gap with its largest rival even as chances of a deal are low due to financial and regulatory hurdles, analysts said.

Maxis unlikely to succeed in bid to buy U Mobile, deal may strain finances — analysts

A unit of BlackRock Inc sold US$2.5 billion (RM11.67 billion) of US investment-grade bonds on Wednesday to help fund a portion of the firm’s US$3.2 billion acquisition of private-markets data business Preqin.

BlackRock sold US$2.5b bond to fund Preqin purchase — Bloomberg

Thai billionaire Sarath Ratanavadi plans to merge his listed power company with an affiliate that owns the nation’s most-valuable mobile phone operator, creating a business worth US$20.5 billion (RM95.82 billion) based on Tuesday’s closing prices.

Thai billionaire Sarath plans US$20.5b telco, energy merger, with Singtel's support

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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