<div class=newsTextDataWrapInner>KUALA LUMPUR (Sept 14): Kitchen cabinet manufacturer Signature International Bhd said it has disposed of 28 million shares of property developer Tanco Holdings Bhd, equivalent to a 1.42% stake, for a total of RM15.53 million or an average price of 55 sen per share between Aug 1 and Sept 12 this year. 
 
In a filing with Bursa Malaysia on Thursday, Signature said its original cost of investment of the 28 million Tanco shares was RM8.69 million as at March 30, 2023. A back-of-the-envelope calculation showed that the sale of shares would have given Signature a profit of RM6.84 million. 
 
"The rationale of the disposal is to realise funds, and the proceeds received from the disposal will be used by the group for working capital and repayment of bank borrowings of Signature and its subsidiaries," it added. 
 
It also said the disposal will not have any material impact&nbsp;on the group's earnings per share or net asset per share for the financial year ending Dec 31, 2023. 
 
Signature shares closed down seven sen or 6.03% at RM1.09 on Thursday, giving it a market capitalisation of RM691.8&nbsp;million. Tanco shares settled one sen or 1.9% higher at 53.5 sen, valuing it at RM1.06&nbsp;billion. Tanco's share price has risen 59.7% year to date.</div>
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KUALA LUMPUR (Sept 14): Kitchen cabinet manufacturer Signature International Bhd said it has disposed of 28 million shares of property developer Tanco Holdings Bhd, equivalent to a 1.42% stake, for a total of RM15.53 million or an average price of 55 sen per share between Aug 1 and Sept 12 this year.

Signature International records RM6.8 mil profits from sale of Tanco shares

The suspect killed in the attack at the Ulu Tiram police station, here on Friday, was believed to have acted alone, said Home Minister Datuk Seri Saifuddin Nasution Ismail.

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Seven individuals, including a Singaporean, were remanded for seven days from Saturday until May 24, to assist in the investigation into the attack on the Ulu Tiram police station, early on Friday morning.

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If an exciting race, a packed crowd with A-list bristle, and a surprise winner was the happening event Formula One needed in America, then the Miami Grand Prix delivered in spades. But that’s not all a scorching afternoon in the Florida sunshine achieved; it also added fuel to the “end of empire” feeling about Red Bull’s domination of the sport.

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Home Minister Datuk Seri Saifuddin Nasution Ismail has given his assurance that the Jemaah Islamiyah (JI) movement in the country is still under control.

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Genting Singapore has confirmed its interest in developing an integrated resort (IR) development in the United Arab Emirates (UAE), as per its executive chairman Tan Sri Lim Kok Thay’s comments to shareholder queries at the gaming group’s annual general meeting (AGM) last Friday.

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Spot silver surpassed US$30 an ounce to hit the highest level in more than a decade.

The precious metal closed 6.5% higher at US$31.49 an ounce Friday, the highest since February 2013. It has soared 32% this year, outpacing gold and making it one of the year’s best-performing major commodities.

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The seven individuals who were arrested on Friday over an attack at the Ulu Tiram police station here will be brought to the Magistrate's Court here on Saturday to obtain a remand order.

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As the local stock market edged higher, investors will be closely monitoring the financial performance of listed firms to justify the ongoing rally with the FBM KLCI reaching a multi-year high of 1,619.45 points last Friday in intra-day trade. The better-than-expected Malaysian economic growth of 4.2% in 1Q2024, which was released last Friday, is expected to help sustain the positive market sentiment.

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A rebound that has taken the US stock market to record highs this week may have further to run, if history is any guide.

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A US company has become the world’s most valuable solar manufacturer for the first time since 2018, as Chinese rivals suffer from a profit-slashing price war and an onslaught of trade barriers erected by Washington.

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Genting Singapore has confirmed its interest in developing an integrated resort (IR) development in the United Arab Emirates (UAE), as per its executive chairman Tan Sri Lim Kok Thay’s comments to shareholder queries at the gaming group’s annual general meeting (AGM) last Friday.

A rebound that has taken the US stock market to record highs this week may have further to run, if history is any guide.

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The suspect killed in the attack at the Ulu Tiram police station, here on Friday, was believed to have acted alone, said Home Minister Datuk Seri Saifuddin Nasution Ismail.

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As the local stock market edged higher, investors will be closely monitoring the financial performance of listed firms to justify the ongoing rally with the FBM KLCI reaching a multi-year high of 1,619.45 points last Friday in intra-day trade. The better-than-expected Malaysian economic growth of 4.2% in 1Q2024, which was released last Friday, is expected to help sustain the positive market sentiment.

The seven individuals who were arrested on Friday over an attack at the Ulu Tiram police station here will be brought to the Magistrate's Court here on Saturday to obtain a remand order.

The Dow Jones industrial average closed above the 40,000 mark for the first time on Friday, with other major indexes also scoring weekly gains, as data supported expectations for interest rate cuts by the Federal Reserve (Fed) this year.

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Seven individuals, including a Singaporean, were remanded for seven days from Saturday until May 24, to assist in the investigation into the attack on the Ulu Tiram police station, early on Friday morning.

The US Justice Department and TikTok on Friday asked a US appeals court to set a fast-track schedule to consider the legal challenges to a new law requiring Chinese-based ByteDance to divest TikTok's US assets by Jan 19 or face a ban.

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Home Minister Datuk Seri Saifuddin Nasution Ismail has given his assurance that the Jemaah Islamiyah (JI) movement in the country is still under control.

Mercedes-Benz Group AG employees in Alabama voted against joining the United Auto Workers, a major blow to the union’s recently reinvigorated efforts to grow its ranks.

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Citigroup Inc was accused in a lawsuit of racial discrimination for its policy of waiving ATM fees for customers of minority-owned banks.

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The US awarded contracts for the purchase of 3.3 million barrels of oil to help replenish the Strategic Petroleum Reserve (SPR) after a massive sale from the stockpile in 2022, the Department of Energy said on Friday.

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Spot silver surpassed US$30 an ounce to hit the highest level in more than a decade.

The precious metal closed 6.5% higher at US$31.49 an ounce Friday, the highest since February 2013. It has soared 32% this year, outpacing gold and making it one of the year’s best-performing major commodities.

North Korean leader Kim Jong Un oversaw the test of tactical ballistic missiles with new guidance technology on Friday, state media KCNA said on Saturday.

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Crypto lender Genesis Global received court approval on Friday to return about US$3 billion (RM14.06 billion) in cash and cryptocurrency to its customers in a bankruptcy liquidation, leaving its owner, Digital Currency Group, with no recovery from the bankruptcy.