<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 25): The Edge Communications Sdn Bhd and its owner Tan Sri Tong Kooi Ong have surfaced as substantial shareholders of Star Media Group Bhd&nbsp;—&nbsp;which publishes the country’s largest English daily <em>The Star</em>.</p></div>

<div class=newsTextDataWrapInner><p>Star Media’s filings with Bursa Malaysia show that Tong owns a direct interest of 1.84 million shares or 0.25% stake, as well as 37.5 million shares or 5.17% indirect interest through The Edge Communications.</p></div>

<div class=newsTextDataWrapInner><p>With a total of 5.42% stake, <em>The Edge </em>and its owner Tong would be substantial shareholders in the Main Market-listed Star Media. Malaysian Chinese Association (MCA) is the controlling shareholder holding 45.4% equity interest.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In an internal memo to staff, Tong said the acquisition is purely an investment.</p></div>

<div class=newsTextDataWrapInner><p>“This is an investment in a company whose share price and capitalisation have for several years been well below the cash it has, and the value of its property assets. It has no debt and is clearly undervalued,” he said.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Star Media, which gained 57% this month alone, closed five sen or 11% higher at 51 sen on Tuesday (April 25), giving it a market capitalisation of RM376.67 million.</p></div>


KUALA LUMPUR (April 25): The Edge Communications Sdn Bhd and its owner Tan Sri Tong Kooi Ong have surfaced as substantial shareholders of Star Media Group Bhd — which publishes the country’s largest English daily The Star.

Star Media’s filings with Bursa Malaysia show that Tong owns a direct interest of 1.84 million shares or 0.25% stake, as well as 37.5 million shares or 5.17% indirect interest through The Edge Communications.

The Edge owner buys 5.42% stake in Star Media

Thailand will increase the daily minimum wage by an average 2.9% to between 337 baht and 400 baht (RM44.19-RM52.45) from Jan 1, a senior official said on Monday.

Thailand to raise daily minimum wage by 2.9% from Jan 1, official says

Greenland is not for sale, its elected leader said on Monday, responding to comments made by US President-elect Donald Trump regarding the "ownership and control" of the vast Arctic island that has been part of Denmark for over 600 years.

Greenland is not for sale, its leader says in response to Trump

Mexico’s annual inflation slowed slightly less than expected in early December as the central bank extends its interest rate cuts.

Official data released on Monday showed consumer prices rose 4.44% in the first two weeks of December from a year prior, just above the 4.4% median estimate of economists surveyed by Bloomberg and down from the 4.55% reading in late November.

Mexico inflation slows less than expected as Banxico cuts rates

Starbucks workers have expanded their strike to four more US cities, including New York, the union representing over 10,000 baristas said late on Saturday.

Starbucks workers expand strike in US cities, including New York

Malayan Flour Mills Bhd's (KL:MFLOUR) said its partially-owned unit, Dindings Poultry Development Centre Sdn Bhd (DPDC), is seeking a judicial review of the Competition Appeal Tribunal's (CAT) decision to reject its request for a stay on a RM70.02 million penalty imposed by the Malaysia Competition Commission (MyCC) over alleged price-fixing cartel activities.

Malayan Flour Mills unit challenges appeal tribunal's rejection of stay of MyCC’s penalty

South Korea's main opposition party threatened on Monday to impeach acting president Han Duck-soo if he failed to approve legislation to launch a special counsel investigation into President Yoon Suk Yeol's failed bid to impose martial law.

South Korean opposition threatens to impeach Han over martial law counsel

China's top legislative body stepped in on Monday to soften the terms of a controversial law meant to strengthen the hands of creditors by letting them target former shareholders in companies, after a wave of rare protests in 11 cities.

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The Container Store Group Inc has filed for bankruptcy to address mounting losses and a substantial debt load that has weighed on the chain.

The retailer, which sells closet organisers and storage bins, sought court protection on Sunday in the Southern District of Texas, listing US$243.1 million (RM1.1 billion) of secured debt, according to court documents.

The Container Store files for bankruptcy after piling losses

Internet investing giant Prosus NV is acquiring Latin American online travel agency Despegar.com Corp for US$1.7 billion (RM7.6 billion).

Prosus to buy online travel agency Despegar for US$1.7b

Capital A Bhd is in discussions with aircraft manufacturers Airbus, Embraer and Comac to purchase new aircraft as part of its expansion strategy for its airline operations under the AirAsia brand.

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<p>KLCC (Holdings) Sdn Bhd, a unit of national oil and gas company Petroliam Nasional Bhd (Petronas), on Monday said that it has acquired 486 acres of Bandar Malaysia land for an undisclosed price.</p>


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<p>Oversea-Chinese Banking Corp Ltd will give a one-off payment to junior employees globally for the second year in a row to alleviate ongoing cost-of-living pressures.</p>


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<p>Bursa Malaysia Bhd (KL:BURSA) said on Monday that it is currently embarking on the succession of its chief executive officer Datuk Muhamad Umar Swift through its nomination and remuneration committee.</p>


Bursa Malaysia says embarking on CEO succession

<p>Shares of Top Glove Corporation Bhd (KL:TOPGLOV) may have little upside as valuations stretched with the recent rally in share prices while earnings outlook remained clouded by both costs and sales concerns.</p>


Top Glove shares may have little further upside amid stretched valuations, outlook cloudy — analysts

<p>1Malaysia Development Bhd (1MDB), the former Malaysian sovereign wealth fund embroiled in one of the largest financial scandals in history, and its subsidiaries have initiated legal claims exceeding US$1 billion (RM4.5 billion) against Hong Kong-headquartered corporate services provider Amicorp Group and its co-founder and chief executive officer Toine Knipping.</p>


1MDB files US$1 bil suit in BVI against Amicorp Group over role in US$7 bil fraud

<p>Tuju Setia Bhd (KL:TJSETIA) has secured a contract worth RM389 million to build serviced apartments in Wangsa Maju, Setapak.</p>

<p>The contract involves construction of two blocks of 52-storey serviced apartments with 17 levels of automated car park, with rooftop facilities and common facilities&nbsp;at ground floor under the Milla Residence, the company said in a statement.</p>


Tuju Setia wins RM389 mil construction contract

<p>As of the third quarter of 2024, highway-related projects awarded to Bumiputera contractors, in Grades G1 to G7, have reached RM15.09 billion, nearly matching the RM15.1 billion allocated to the group last year, said Deputy Works Minister Datuk Seri Ahmad Maslan.</p>


RM15.09 billion highway-related projects awarded to Bumiputera contractors — Ahmad Maslan

<p>The government on Monday announced an additional rooftop solar quota under the net energy metering (NEM) mechanism for households (NEM Rakyat) and the commercial and industrial segment (NEM Nova).</p>


Govt adds rooftop solar quota again; household rebate extended until April

<p>International Finance Corporation (IFC) and a consortium of six global financial institutions will lend over US$900 million (RM4 billion) to US-based Yondr for the construction of its data centre in Malaysia.</p>


World Bank's IFC, consortium lend over US$900 mil to Yondr for data centre in Malaysia

<p>The High Court has dismissed Youth and Sports Minister Hannah Yeoh's libel suit against former inspector general of police Tan Sri Musa Hassan over his comments that she was trying to turn Malaysia into a “Christian nation”.</p>

<p>High Court Judicial Commissioner Arziah Mohamad Apandi in a decision delivered on Monday said that the Segambut Member of Parliament (MP) failed to establish essential elements in a defamatory suit and that there was no malice in Musa's statement. She awarded costs of RM40,000 to Musa.</p>


Court dismisses Hannah Yeoh's suit against former IGP over 'Christian nation' comment

<p>Personal debt is overwhelming an increasing number of Japanese as higher interest rates and the rising cost of living bite.</p>

<p>Consumer loans are rising at the highest rate in 16 years. Household borrowing exceeded incomes for the first time last year.</p>


Bankruptcies, suicides rise as Japanese struggle with mounting debt

<p>Tun Musa Aman was not a contender for the position of Yang Dipertua Negeri of Sabah as there were others, such as current chief minister Datuk Seri Hajiji Noor, in the running. His name only cropped up one month ago as a replacement for Tun Juhar Mahiruddin, whose term ends this month.</p>

<p>...

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<p>Malaysia’s listed companies must prepare sustainability reporting in their annual reports using the IFRS’ Sustainability Disclosure Standards, Bursa Malaysia announced on Monday.</p>


Listed cos must prepare sustainability reporting using IFRS standards, says Bursa

<p>Public approval for Prime Minister Datuk Seri Anwar Ibrahim rose to 54% after two years in power, according to the latest polling published by the research house Merdeka Center last Friday.</p>


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<p>Capital A Bhd is expected to exit Practice Note 17 (PN17) status by the first quarter of next year after submitting its proposed regularisation plan to Bursa Malaysia Securities Bhd on Monday.</p>


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<p>Malaysia has been ranked first among regional peers in Southeast Asia in Knight Frank’s SEA-5 Data Centre Opportunity Index for the second consecutive year with an annual take-up of 429 megawatts (MW).</p>


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<p>HeiTech Padu Bhd (KL:HTPADU) said on Monday that its group managing director and group chief executive officer, Salmi Nadia Mohd Hilmey, is resigning voluntarily&nbsp;from all positions within the company, effective from Dec 31.</p>


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<p>Two commercial projects by S P Setia Bhd (KL:SPSETIA) namely Pines Avenue at Setia EcoHill 2 and Baris Place 2 at Setia Mayuri, both located in Semenyih, Selangor, have been fully taken up, according to a statement on Monday.</p>


Two recently launched commercial projects in Semenyih by S P Setia fully taken up

<p>Honda and Nissan have started talks toward a potential merger, they said on Monday, a historic pivot for Japan's auto industry that underlines the threat Chinese EV makers now pose to some of the world's best known car makers.</p>


Honda and Nissan start merger talks in historic pivot

<p>ECM Libra Group Bhd’s (KL:ECM) 50%-owned unit OHG Services Sdn Bhd will pay Malaysia Airports (Sepang) Sdn Bhd RM29.9 million to extend its concession agreement to manage and operate a 'limited-service hotel' at the Kuala Lumpur International Airport (KLIA) for another 35 years.</p>
