<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 4): YLI Holdings Bhd’s subsidiary, Laksana Wibawa Sdn Bhd, has accepted and received RM97.84 million in compensation for its land in Hulu Serendah, Selangor that was compulsorily acquired for a rail project.</p></div>

<div class=newsTextDataWrapInner><p>In a local bourse filing on Wednesday, the steel manufacturer said the land was acquired by Malaysian Rail Link Sdn Bhd, an agency under the Ministry of Finance Inc (MOF Inc), which has been appointed as the asset and project owner of East Coast Rail Link (ECRL).</p></div>

<div class=newsTextDataWrapInner><p>The group said the RM97.84 million compensation includes compensation for severance damages.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Following the disposal, YLI is expected to gain approximately RM62.17 million and it will utilise most of the proceeds for expenses and repayment of its borrowings, as well as redemption of Redeemable Convertible Preference Shares (RCPS).</p></div>

<div class=newsTextDataWrapInner><p>“The compulsory disposal arose as a result of receipt from the Land Administrator of the notice to take possession of the Land under Section 18 of the Land Acquisition Act 1960,” it said.</p></div>

<div class=newsTextDataWrapInner><p>At the time of writing on Wednesday, shares in YLI were 6.5 sen or 20.97% higher at 37.5 sen, which translates into a &nbsp;market capitalisation of RM39.12 million.</p></div>


KUALA LUMPUR (Oct 4): YLI Holdings Bhd’s subsidiary, Laksana Wibawa Sdn Bhd, has accepted and received RM97.84 million in compensation for its land in Hulu Serendah, Selangor that was compulsorily acquired for a rail project.

YLI receives land acquisition compensation of RM98 mil from Malaysian Rail Link

Confidence among US homebuilders advanced to a seven-month high in November on a jump in sales expectations and optimism a Trump administration will ease regulatory burdens.

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Oil prices rose on news on Monday that output at Norway's giant Johan Sverdrup oilfield has been halted, adding to earlier gains stemming from escalation in the Russia-Ukraine war.

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Here is a brief recap of some corporate announcements that made the news on Monday.

CelcomDigi, Ajinomoto, Master Tec, TMC Life Sciences, Perak Transit, UEM Sunrise, EA Technique, AWC, Johor Plantations, Berjaya Corp, REDtone, Mercury Industries, TCS Group, MMAG, Pecca, and OM Holdings

Members of President-elect Donald Trump’s transition team have told advisers they plan to make a federal framework for self-driving vehicles one of the Transportation Department’s priorities, according to people familiar with the matter.

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Wall Street's main indexes were mixed on Monday, as investors looked ahead to earnings from AI-chip leader Nvidia following a rout the previous week on apprehensions about Donald Trump's cabinet appointments and the central bank's policy path.

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The new leadership change in the US is expected to affect the global trade landscape, particularly in trade relations between the US and China.

The Ministry of Investment, Trade and Industry (Miti) said that should the geopolitical issues continue, there is a greater opportunity for other countries such as Malaysia to become alternative destinations for multinational companies to increase or start their investments.

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Pharmaceutical company YSP Southeast Asia Holding Bhd (KL:YSPSAH)’s net profit fell 41.9% to RM3.47 million in the third quarter ended Sept 30, 2024 (3QFY2024), from RM5.98 million a year ago, dragged by foreign exchange (forex) loss and lower sales.

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<p>Gandingan Jakel Sdn Bhd said it is actively working with Kuala Lumpur City Hall (DBKL) to address concerns at its J Satine project in Wangsa Maju, following a stop-work order issued by the authorities on Nov 8.</p>


Gandingan Jakel says working with City Hall to address J Satine's stop-work order

<p>A major shareholder of Lagenda Properties Bhd (KL:LAGENDA) and Epicon Bhd (KL:EPICON) has triggered a takeover offer for Mercury Industries Bhd (KL:MERCURY) after having purchased over half of the contractor’s equity interest.</p>


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<p>Businessman Chung Chee Yang, who emerged as Cape EMS Bhd’s (KL:CEB) substantial shareholder last week, has mopped up an additional 3.39 million shares in the company.</p>


Cape EMS’s new substantial shareholder Chung Chee Yang continues to raise stake

<p>Here is a brief recap of some corporate announcements that made the news on Monday.</p>


<p>Johor Plantations Group Bhd (KL:JPG) said on Monday that it has appointed Johor Corporation (JCorp) affiliated company JL Projects Sdn Bhd as the project manager consortium (PMC) for the construction of its integrated sustainable palm oil complex (ISPOC) for RM30.99 million.</p>


Johor Plantations appoints JCorp unit to oversee construction of integrated refinery in Kota Tinggi

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


EVENING 5: Five things you need to know today

<p>Ajinomoto (Malaysia) Bhd's (KL:AJI) net profit surged 76.66% to RM18.29 million in the second quarter ended Sept 30, 2024 (2QFY2025), from RM10.35 million a year ago, helped by stronger sales from both consumer business and industrial business segments, and lower raw material costs.</p>


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<p>The Civil Aviation Authority of Malaysia (CAAM) has issued a safety directive, banning the use of smart baggage or rather "scooters" as a mode of transportation, in airport aprons.</p>

<p>Its chief executive officer, Datuk Capt Norazman Mahmud in a safety information dated Nov 15 said while rideable smart baggage offers convenience to passengers, its use in restricted areas such as the apron poses significant safety risks.</p>


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<p>Nestcon Bhd’s (KL:NESTCON) wholly owned subsidiary Nestcon Infra Sdn Bhd has received a letter of award for rock blasting and general works required for road and drainage systems.</p>


Nestcon secures RM32 mil contract for mixed-use development in Damansara Perdana

<p>The 13th Malaysia Plan (13MP) emphasises a need for talent development reforms in the country to meet workforce needs in the high-income economic sector, said Economy Minister Rafizi Ramli.</p>


Rafizi: 13MP to focus on talent development reforms

<p>Power cable manufacturer Master Tec Group Bhd’s (KL:MTEC) third quarter net profit only grew marginally year-on-year, despite revenue jumping 34.4%, as its gross profit margin fell to 11.3% from 16.6%, its bourse filing on Monday showed.</p>


Master Tec sees little increase in 3Q profit despite revenue jumping 34% as margin drops

<p>Singapore police ended their pursuit of 15 people involved in the country’s largest-ever money laundering scandal, after the suspects agreed to surrender a total of S$1.85 billion (US$1.4 billion or RM6.26 billion) worth of assets to authorities.</p>


Singapore ends pursuit of money launderers who forfeited US$1.4 bil

<p>Berjaya Corp Bhd (KL:BJCORP), or BCorp, said it has sold 32 million shares or 4.14% equity stake in REDtone Digital Bhd (KL:REDTONE) on Monday, for RM29.76 million in cash.</p>


BCorp trims 4.14% stake in REDtone, to book RM7.7m gain

<p>KUALA LUMPUR (Nov 18): Packaging solutions provider, Public Packages Holdings Bhd (KL:PPHB) said on Monday it anticipates that its performance will remain encouraging after net profit rose 13.14% in the third quarter. &nbsp;</p>

<p>Public Packages’ net profits for the three months ended Sept 3...

Public Packages Holdings optimistic after net profit rises 13.14% in 3Q

<p>Pecca Group Bhd (KL:PECCA) has on Monday declared a special dividend of 1.5 sen per share for the financial year ended June 30, 2024 (FY2024), which amounts to RM11.28 million.</p>


Pecca declares 1.5 sen special dividend, total dividend amounts to 6.5 sen per share

<p>A three-member Court of Appeal bench had reserve its judgment in giving a decision over the appeal by Malaysia Competition Commission (MyCC) over a High Court’s decision last year that quashes its “proposed decision” on imposing a propose fine of RM86.77 million against Grab Holdings Inc, together with its subsidiaries GrabCar Sdn Bhd and MyTeksi Sdn Bhd.</p>


Appellate court reserves judgment in MyCC's appeal against Grab on quashing RM86.77 mil proposed decision

<p>Wall Street's main indexes were mixed on Monday, as investors looked ahead to earnings from AI-chip leader Nvidia following a rout the previous week on apprehensions about Donald Trump's cabinet appointments and the central bank's policy path.</p>


<p>Trive Property Group Bhd (KL:TRIVE) has proposed a share capital reduction to wipe out RM85 million of the company’s accumulated losses, in a move designed to better align its financial position with its actual asset base.</p>


Trive Property proposes RM85 mil share capital reduction  

<p>Electrical engineering services provider HE Group Bhd (KL:HEGROUP)&nbsp; which was listed on the ACE Market in January, reported a 32.38% jump in its third quarter net profit, thanks to increased contribution from higher-margin projects, particularly in the electrical equipment hook-up and retrofitting segment.</p>


HE Group’s 3Q profit jumps 32% on higher-margin projects

<p>Engineering services provider AWC Bhd (KL:AWC) has secured a RM48.57 million contract to provide facilities management and maintenance services at Menara Seri Wilayah in Putrajaya.</p>
