<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 16):&nbsp;PMB Technology Bhd is disposing of a 56,656 sq&nbsp;m leasehold land in Klang for RM36.59 million.</p></div>

<div class=newsTextDataWrapInner><p>"The proposed disposal will enable the group to unlock capital resources from being tied up in long-term assets, and realise the property at a fair market value, while enhancing the group’s liquidity and strengthening its financial position," the group said in a filing with Bursa Malaysia.</p></div>

<div class=newsTextDataWrapInner><p>Following the disposal of the land to Ong Saut Mee, a Malaysian citizen, the group is expected to have a one-off net gain of RM25.75 million, said PMB Technology.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The group has proposed to use the proceeds largely to finance its working capital.</p></div>

<div class=newsTextDataWrapInner><p>“Barring any unforeseen circumstances, the proposed disposal is expected to be completed by the first quarter of calendar year 2024,” it added.</p></div>

<div class=newsTextDataWrapInner><p>Shares in PMB Technology ended two sen or 0.66% lower at RM2.99 on Monday, giving it a market capitalisation of RM4.86 billion.</p></div>


PMB Technology Bhd is disposing of a 56,656 sq m leasehold land in Klang for RM36.59 million.

"The proposed disposal will enable the group to unlock capital resources from being tied up in long-term assets, and realise the property at a fair market value, while enhancing the group’s liquidity and strengthening its financial position," the group said in a filing with Bursa Malaysia.

PMB Tech sells land in Klang for RM36.6m

WASHINGTON (Nov 26): President-elect Donald Trump on Tuesday chose trade lawyer Jamieson Greer as his new US trade representative, elevating a key veteran of his first-term trade war against China, to execute a sweeping tariff agenda that promises to upend global trade.

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Shares of BP Plastics Holding Bhd (KL:BPPLAS) slipped on Wednesday to their lowest in more than nine months after the stretch films manufacturer reported weaker-than-expected third-quarter results.

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It looked like cocoa supplies were improving earlier this season after the worst deficit ever, giving chocolatiers paying through the nose for beans an incentive to sit out and wait for lower prices. That respite proved short-lived.

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Federal Reserve (Fed) officials appeared divided at their meeting earlier this month over how much farther they may need to cut interest rates, but as a group agreed to avoid giving much guidance from here on about how US monetary policy is likely to evolve.

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KUALA LUMPUR (Nov 27): The government’s efforts to encourage local industry players to boost efforts to produce electric cars will be among topics discussed at Wednesday’s Dewan Rakyat sitting.

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Vietnamese prosecutors have told property tycoon Truong My Lan she must repay an estimated US$11 billion (RM49 billion) if she wants to avoid execution by lethal injection.

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Sanrio Co shares tumbled the most since May 2014 after the brand owner of Hello Kitty said holders including its president will sell shares in the open market.

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Analysts have raised their earnings forecasts, with at least one upgrading its call on the country's largest lender by assets, Malayan Banking Bhd (KL: Maybank), after its third-quarter results met expectations.

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MORNING CALL: 27/11/2024

Retail investors are cashing out from China’s exchange-traded funds, risking further market volatility if Beijing fails to boost sentiment, according to analysts. 

ETFs have seen net outflows since late October, according to an analysis by Haitong Securities.

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<p>Boustead Holdings Bhd has ceased to be a shareholder of Affin Bank Bhd (KL:AFFIN) after selling all the 482.11 million shares it held in the banking group, equivalent to a 20.08% stake.</p>


Boustead exits Affin Bank after selling entire 20% stake

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


IJM, Maybank, Sunway, IOI Corp, YTL, YTL Power, KLK, Batu Kawan, MAHB, TM, Greatech, Leong Hup, Pharmaniaga, Tan Chong, Matrix Concepts, E&O

<p>Analysts have raised their earnings forecasts, with at least one upgrading its call on the country's largest lender by assets, Malayan Banking Bhd (KL: Maybank), after its third-quarter results met expectations.</p>


<p>Thyssenkrupp's&nbsp;steel business plans to cut some 40% of its workforce over the coming years, it announced on Monday in the latest painful overhaul of a German industrial giant, with workers promising fierce resistance.</p>


Thyssenkrupp to cut 11,000 jobs at steel division in major corporate shakeup

<p>US-based travel companies, from Marriott International to Booking Holdings are trimming their budgets and workforce ahead of next year as falling leisure travel demand from lower-income travellers hits top-line growth.</p>


US-based travel companies plan layoffs ahead of 2025

<p>Retail investors are cashing out from China’s exchange-traded funds, risking further market volatility if Beijing fails to boost sentiment, according to analysts.&nbsp;</p>

<p>ETFs have seen net outflows since late October, according to an&nbsp;analysis&nbsp;by Haitong Securities.</p>


<p>Southern Cable Group Bhd’s (KL:SCGBHD) net profit for the third quarter more than doubled from a year ago on higher sales volume of power cables and improved margins, attributable to better product mix and economies of scale on increased production.</p>


Southern Cable 3Q net profit doubles to record high, declares 0.75 sen dividend

<p>Electronic reload and bill payment services provider RichTech Digital Bhd has inked an underwriting agreement with KAF Investment Bank in conjunction with its planned initial public offering (IPO) exercise on the ACE Market of Bursa Malaysia.</p>


ACE Market-bound RichTech inks underwriting agreement with KAF Investment Bank

<p>Even as birth rates fell further in South Korea and Singapore, where less than one baby is born to every woman of reproductive age, Malaysia’s total fertility rate (TFR) surprisingly inched higher to 1.7 in 2023 from a record low of 1.6 in 2022.</p>


Demographic squeeze : Declining birth rates and the rising burden of eldercare

<p>Japanese chip distributor Macnica Holdings Inc is seeking possible acquisition targets in other parts of Asia, a sign of industry pressures to consolidate.</p>

<p>Macnica, which sells chips made by the likes of Intel Corp’s Altera, is eyeing an overseas acquisition to better hold its own against bigger competitors.</p>


Japan’s top chip distributor eyes acquisitions in China, India

<p>Stocks closed at all-time highs as investors looked past Donald Trump’s tariff plan, with geopolitical risks abating after Israel and Hezbollah reached a cease-fire agreement.</p>


US stocks hit record high on Israel cease-fire deal

<p>WCT Bhd recorded a net profit of RM173.22 million for the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net loss of RM13.54 million a year earlier, thanks to the remeasurement of interest in a jointly controlled entity amounting to RM184 million.</p>


Remeasurement gain from JV helps lift WCT's 3Q net profit despite revenue dip

<p>Stocks in Asia are set for a mixed open after investors looked past Donald Trump’s tariff plan to lift the US benchmark to yet another record. President Joe Biden said Israel and Hezbollah reached a cease-fire agreement.</p>


Asian stocks to waver as US shrugs off tariffs

<p>Loss-making timber firm Maxland Bhd (KL:MAXLAND), formerly known as Priceworth International Bhd, is issuing new shares representing 20% of its current share base to two companies, including the private vehicle of its non-executive chairman Datuk Abd Aziz Sheikh Fadzir, to raise funds for its new ventures into bus assembly and the development of district cooling systems for industrial buildings.</p>


Maxland secures RM14.6m via share placement for bus assembly, cooling system ventures

<p>Vietnamese prosecutors have told property tycoon Truong My Lan she must repay an estimated US$11 billion (RM49 billion) if she wants to avoid execution by lethal injection.</p>


<p>The benchmark S&amp;P 500 and the Nasdaq extended recent gains on Tuesday, as technology stocks rebounded, while investors parsed Donald Trump's tariff pledges on top trade partners and awaited minutes from the Federal Reserve's latest meeting.</p>


S&P 500, Nasdaq advance ahead of Fed minutes; markets analyse Trump's tariff threats

<p>The Ministry of Communications has urged expediting the completion of mobile service provisioning under Phase 1 of the National Digital Network (Jendela) initiative, especially since it was supposed to be completed in October 2024.</p>


Fahmi calls for building of towers under Jendela Phase 1 to be speeded up

<p>The government has targeted oil palm replanting on 77,000 hectares of land over the next five years (2025–2029) to ensure the palm sector remains sustainable and competitive through the implementation of an oil palm replanting programme, specifically among smallholders.</p>


Plantation ministry sets sights on oil palm replanting across 77,000 hectares over next five years

<p>The dollar advanced after President-elect Donald Trump vowed additional tariffs on Mexico, Canada and China, upending recent macro bets on more measured economic plans from the next US administration.</p>


Dollar buoyed as currency traders heed Trump’s tariff threats

<p>The flood situation in Kelantan has worsened, while conditions in Terengganu are improving and Johor remains unchanged as of 8pm on Tuesday.</p>

<p>In Kelantan, five temporary relief centres (PPS) were opened on Tuesday night in the districts of Jeli and Kuala Krai, bringing the total number of evacuees in the state to 141 from 47 families, up from 80 individuals this morning.</p>
