<div class=newsTextDataWrapInner><p>KUALA LUMPUR (March 1): KPJ Healthcare Bhd has entered into a share sale agreement with PT Nusautama Medicalindo via three subsidiaries for the proposed disposal of its Indonesian hospital operations and facilities involving KPJ Medica for a total consideration based on an enterprise value of RM150.2 million.</p></div>

<div class=newsTextDataWrapInner><p>The subsidiaries are Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB), Crossborder Aim (M) Sdn Bhd (CAMSB) and Crossborder Hall (M) Sdn Bhd (CHMSB).</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia on Wednesday, KPJ said the proposed disposal involves a 75% stake in KPJ Medica by KPJSB, and a 100% stake in Al-Aqar Bumi Serpong Damai by CAMSB and CHMSB to PT Nusautama Medicalindo at a provisional purchase price of Indonesian Rupiah equivalent to RM13.66 million, subject to adjustment based on closing cash, closing debt and closing working capital.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Meanwhile, KPJ said the proposed disposal is part of its hospital operations restructuring in Indonesia necessitated by a challenging business environment, licensing and regulatory requirements imposed on foreign operators like KPJ.</p></div>

<div class=newsTextDataWrapInner><p>“The proposed disposal marks KPJ’s exit from operating specialist hospitals in Indonesia to enable KPJ to realign its strategies and focus on managing specialist healthcare facilities in Malaysia,” it said.</p></div>


KPJ Healthcare Bhd has entered into a share sale agreement with PT Nusautama Medicalindo via three subsidiaries for the proposed disposal of its Indonesian hospital operations and facilities involving KPJ Medica for a total consideration based on an enterprise value of RM150.2 million.

The subsidiaries are Kumpulan Perubatan (Johor) Sdn Bhd (KPJSB), Crossborder Aim (M) Sdn Bhd (CAMSB) and Crossborder Hall (M) Sdn Bhd (CHMSB).

KPJ sells Indonesian hospital operations

Stocks in Asia are set for a mixed open after South Korean President Yoon Suk Yeol’s shock decision to impose martial law for the first time in more than 40 years, only to reverse course hours later, caught global markets off guard. 

Equities opened lower in Sydney, while futures pointed to a gain in Tokyo and a decline in Hong Kong. S&P 500 contracts were steady after the index closed little changed

South Korea chaos sets cautious tone for Asia open

In October, the government announced incentives to jump-start the special economic zone in Forest City. One particular announcement that caught attention was the zero tax rate for family offices, a term rarely heard of in Malaysia as the regulatory framework for such firms did not exist. Essentially, family offices handle investment and wealth management for wealthy families.

Rise of the family office

South Korean President Yoon Suk Yeol’s surprise decision to impose martial law in South Korea for the first time in more than 40 years — and then just as swiftly reverse course — sparked whiplash in the country’s foreign-traded assets and caught global markets off guard, at one point sending US Treasury yields lower as traders sought a haven from potential instability.

South Korea’s whirlwind stint in martial law jolts markets

A rally that drove stocks to a series of all-time highs showed signs of exhaustion, with investors awaiting this week’s key jobs report and Jerome Powell’s remarks for clues on whether Federal Reserve officials will cut interest rates in December.

Equities struggled to make much headway, following an over $11 trillion surge in the US equity benchmark this year that sent the gauge near overbought levels

S&P 500 ekes out gain to notch 55th record in 2024

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

Binastra Corp, Mah Sing, T7 Global, JF Technology, VS Industry, Solarvest Holdings, Magni-Tech Industries

Financially distressed MMAG Holdings Bhd (KL:MMAG) has taken a step forward in its recovery efforts by securing a partnership with Malaysia Airlines Bhd.

MMAG signs deal to serve as MASKargo's exclusive freighter operator

Wall Street's main indexes were subdued in choppy trading on Tuesday after the S&P 500 and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials.

Wall Street muted with focus on more data, US Fed commentary

Despite widespread concern that generative AI could interfere with major elections around the globe this year, the technology had limited impact across Meta Platforms' apps, the tech company said on Tuesday.

Meta says gen AI had muted impact on global elections this year

US job openings increased moderately in October while layoffs declined, suggesting the labour market continued to slow in an orderly fashion.

US job openings rise in October, layoffs decrease

Singapore and Australia agreed on Tuesday to seek opportunities for increased access to their respective defence facilities, including more frequent Australian visits to the city-state's air force and navy bases.

Australia, Singapore agree to seek expanded access to their defence facilities

<p>South Korean President Yoon Suk Yeol on Tuesday declared martial law in a surprise late-night TV address, slamming domestic political opponents and sending shockwaves through the country.</p>


South Korea President Yoon declares martial law, slams domestic opponents 

<p>The founding couple of FashionValet Sdn Bhd (FashionValet), who have been linked to the investment losses of Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), will be charged at the Kuala Lumpur Sessions Court on Thursday.</p>


FashionValet founders to be charged on Thursday, says MACC chief

<p>Here is a brief recap of the business news and corporate announcements that made the headlines on Tuesday.</p>


<p>Magni-Tech Industries Bhd (KL:MAGNI), another cash-rich company on Bursa Malaysia, has declared a special dividend with the release of its latest second quarter results, which saw net profit rising 18.74% on higher revenue.</p>


Magni-Tech declares 23 sen dividend, including 20 sen special as 2Q profit jumps

<p>TMK Chemical Bhd's initial public offering (IPO) has attracted strong demand, with its new shares offered to the Malaysian public oversubscribed by 14.28 times.</p>


Main Market-bound TMK Chemical's IPO oversubscribed by 14.28 times 

<p>Investment company Abrdn plc, formerly known as Aberdeen Asset Management plc, has emerged as a substantial shareholder in Feytech Holdings Bhd (KL:FEYTECH), after raising its stake to 5.21% or 43.91 million shares.</p>


Abrdn emerges as substantial shareholder in Feytech

<p>The Life Insurance Association of Malaysia (Liam) said it is still in discussion with Bank Negara Malaysia (BNM) about measures that can be taken to ease the burden on policyholders following the unprecedented rise in medical claims over the past few years.</p>


Insurers say still in talks with BNM over recent hikes in medical insurance premiums

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>South Korean President Yoon Suk Yeol’s surprise decision to impose martial law in South Korea for the first time in more than 40 years — and then just as swiftly reverse course — sparked whiplash in the country’s foreign-traded assets and caught global markets off guard, at one point sending US Treasury yields lower as traders sought a haven from potential instability.&nbsp;</p>


<p>Intel former CEO Pat Gelsinger could get as much as US$12 million (RM53.6 million) as payout, a regulatory filing showed on Tuesday, following his ouster from the struggling US chipmaker.</p>


Intel's ousted CEO Gelsinger to receive up to US$12m payout

<p>Cloudpoint Technology Bhd (KL:CLOUDPT) said it has secured a RM33.6 million contract to implement advanced integrated service management automation (ISMA) solutions from a local bank.</p>


Cloudpoint Technology bags management automation solutions contract from local bank

<p>Financially distressed MMAG Holdings Bhd (KL:MMAG) has taken a step forward in its recovery efforts by securing a partnership with Malaysia Airlines Bhd.</p>


<p>Two advocacy groups have called on the government to delay the second reading of the Bill to amend the Communications and Multimedia Act (CMA) 1998 in Dewan Rakyat until further meaningful public and stakeholder consultations are conducted, with all feedback made publicly available.</p>


Govt urged to delay amendments to Communications and Multimedia Act, hold public consultations first  

<p>Wall Street's main indexes were subdued in choppy trading on Tuesday after the S&amp;P 500 and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials.</p>


<p>Diversification of operations and markets has become essential for businesses in Malaysia to stay competitive, said Malaysian Investment Development Authority (MIDA) chief executive officer (CEO) Datuk Sikh Shamsul Ibrahim Sikh Abdul Majid.</p>

<p>He said that for the survival of many industries, diversification has become an important element for business survival.</p>


Diversification key to Malaysia's business survival amid global challenges, says Mida CEO

<p>Japan could use a wake-up call over its mountain of debt through credit rating firms warning of the potential for cuts to sovereign bond ratings, according to a government adviser.</p>


Japan needs wake-up call on debt, government adviser warns

<p>In October, the government announced incentives to jump-start the special economic zone in Forest City. One particular announcement that caught attention was the zero tax rate for family offices, a term rarely heard of in Malaysia as the regulatory framework for such firms did not exist. Essentially, family offices handle investment and wealth management for wealthy families.</p>


<p>US job openings increased moderately in October while layoffs declined, suggesting the labour market continued to slow in an orderly fashion.</p>


<p>Malaysia aims to capitalise on opportunities by enhancing economic co-operation with the Pacific Alliance, said Deputy Investment, Trade, and Industry Minister Liew Chin Tong.</p>

<p>He emphasised that the focus goes beyond trade and investment.</p>


Malaysia to enhance economic co-operation with Pacific Alliance

<p>The Supply Bill 2025, also known as Budget 2025, was passed in the Dewan Rakyat on Tuesday after receiving majority support from Members of Parliament (MPs) through a voice vote.</p>
