<div class=newsTextDataWrapInner><p dir="ltr">KUALA LUMPUR (Oct 27): Kossan Holdings (M) Sdn Bhd, the largest shareholder of Kossan Rubber Industries Bhd, has emerged as the substantial shareholder in Luxchem Corp Bhd, after acquiring 6.09 million shares, or a 0.569% stake.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p dir="ltr">According to Luxchem’s filing, Kossan Holdings bought the block of shares via direct business transaction on Wednesday (Oct 25). Based on the back-of-the envelope calculation, the cost&nbsp;of this purchase was RM2.86 million, based on Luxchem’s closing price of 47 sen at the time.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p dir="ltr">This raised Kossan’s shareholding in Luxchem to 5.168% or 55.29 million shares. Prior to the transaction, Kossan Holdings held a 4.599% stake or 49.2 million shares in the group.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p dir="ltr">Kossan Holdings — which is controlled by founder Tan Sri Lim Kuang Sia and directors, including his three sibblings Lim Kuang Wang, Lim Kuang Yong and Lim Leng Bung — is the second largest shareholder in Luxchem, after Chemplex Resources Sdn Bhd (38.92% stake).&nbsp;</p></div>

<div class=newsTextDataWrapInner><p dir="ltr">Shares of Luxchem closed up one sen or 2.13% at 48 sen on Friday, valuing the group at RM508.07 million.&nbsp;</p></div>


KUALA LUMPUR (Oct 27): Kossan Holdings (M) Sdn Bhd, the largest shareholder of Kossan Rubber Industries Bhd, has emerged as the substantial shareholder in Luxchem Corp Bhd, after acquiring 6.09 million shares, or a 0.569% stake.

Kossan’s founding Lim family emerges as Luxchem’s substantial shareholder

President-elect Donald Trump’s pick of Scott Bessent as the treasury secretary may give Beijing room to negotiate with the US over their trade tensions, in part due to Bessent's moderate stance on tariffs.

Bessent at Treasury may give China breathing room over US tariffs

Malaysia and South Korea have reiterated their commitment to fostering an investment climate aligned with environmental, social and governance (ESG) principles.

The announcement was made during a bilateral meeting between Prime Minister Datuk Seri Anwar Ibrahim and South Korean President Yoon Suk Yeol in Seoul on Monday.

Malaysia, South Korea to foster ESG investments and technological collaborations

Thailand's baht slipped on Monday as a weakness in gold prices offset a rally in developing currencies due to a slip in the dollar, while Singapore's currency pared gains after its inflation numbers pointed towards room for policy easing.

Thai baht down as bullion loses shine; Singapore dollar slips post inflation data

EDGE WEEKLY: The pension conundrum: KWAP pushes for thoughtful reform amid growing charges

India is aiming to finalise a potential carbon credit deal with Japan early in 2025 and then advance similar negotiations with nations including South Korea and Singapore.

India aiming to finalise carbon deals with Japan, Singapore — Bloomberg

The Indonesian sister company of Mr DIY Group (M) Bhd (KL:MRDIY) will list shares in Jakarta through an initial public offering (IPO) that seeks to raise as much as 4.7 trillion rupiah (US$297 million or RM1.32 billion), in what would be the nation’s biggest listing in more than a year.

Mr DIY's Indonesian business plans IPO to raise up to US$297 mil

The climate crisis, once a looming threat, has now become an urgent reality that demands immediate action. The consequences of inaction are becoming increasingly severe, affecting not only our environment but also the global economy and societal well-being. Have we reached a critical juncture, or...

MySay: Decarbonising the future: The role of CCUS in tackling climate crisis

Base metals and iron ore climbed as the dollar dropped following US President-elect Donald Trump’s measured pick for the treasury secretary.

All major contracts on the London Metal Exchange (LME) advanced, tracking gains in stocks and other risk assets. The US currency sank by the most in more than two weeks, boosting commodities priced in it, following the nomination of Scott Bessent, a hedge fund manager, to the key role.

Base metals climb as dollar drops after Trump’s treasury choice

UniCredit SpA has started an all-share takeover bid for domestic rival Banco BPM, a surprise move as it’s also studying an acquisition of Germany’s Commerzbank AG.

UniCredit launches €10b all-shares bid for Banco BPM

The Selangor government plans to enforce a ban on the use of plastic bags from Friday to Sunday at any business premises in the state next year.

Selangor to extend 'no plastic bag day' from Friday to Sunday next year

<p>Malaysia’s third-quarter results season has been ‘disappointing’ so far, said CIMB Securities, warning of downside risks to its earnings forecasts for stocks on the benchmark index.</p>


Malaysia's 3Q earnings 'disappointing' so far as forex losses weigh, CIMB says

<p>The High Court on Monday has quashed the seizure of Swatch's rainbow-themed ‘Pride collection’ watches, holding that the May 2023 move was made before confiscation notices were issued and without any warrant.</p>


High Court quashes Swatch seizure by Home Ministry

<p>Chemical management and storage company TMK Chemical Bhd has unveiled the prospectus for its Main Market initial public offering (IPO) to raise some RM385 million, as part of its plan for the expansion of its plant, construction of new facilities and acquisition.</p>


TMK Chemical unveils prospectus for RM385 mil IPO, priced at RM1.75 apiece

<p>IJM Corporation Bhd (KL:IJM) may acquire a 50% stake in financially troubled UK-based construction firm JRL Group, according to multiple news reports.</p>


IJM Corp said to buy 50% stake in troubled UK construction firm JRL

<p>Asian stocks rallied with US equity futures on Monday, while the dollar retreated against rivals as bond yields slid following the selection of fund manager Scott Bessent as the next US Treasury secretary, with investors expecting he will be a voice for markets in Washington.</p>


Stocks bounce, dollar slides with bond yields on Bessent pick

<p>The Indonesian sister company of Mr DIY Group (M) Bhd (KL:MRDIY) will list shares in Jakarta through an initial public offering (IPO) that seeks to raise as much as 4.7 trillion rupiah (US$297 million or RM1.32 billion), in what would be the nation’s biggest listing in more than a year.</p>


<p>The High Court on Monday dismissed former prime minister Datuk Seri Najib Razak's application to "permanently stay" the criminal trial regarding International Petroleum Investment Co (IPIC).</p>


Court rejects Najib's application for permanent stay in IPIC trial

<p>The federal government may consider "other proposals" after facing pushback from highway concessionaires on the implementation of the multi-lane free flow (MLFF) system.</p>


Govt may explore alternatives as concessionaires push back on RM3.5b barrierless toll system

<p>Local institutions were the primary supporters of Bursa Malaysia for the fifth consecutive week, recording a net inflow of RM250.6 million last week, up from RM207.7 million in the previous week.</p>

<p>In its fund flow report for the week ending Nov 22, MIDF Amanah Investment Bank Bhd (MIDF) noted that while there was a net outflow of RM19.6 million from local institutions on Tuesday, the inflows on other days of the week more than offset this decline.</p>


Bursa boosted by RM250.6 mil investments from local institutions last week

<p>Ambulatory eyecare centre TopVision Eye Specialist Bhd (KL:TOPVISN) aims to raise RM17.89 million with its initial public offering (IPO) at 33 sen per share, in conjunction with its transfer from the LEAP Market to the ACE Market of Bursa Malaysia.</p>


TopVision Eye Specialist sets IPO price at 33 sen to raise RM17.9m in conjunction with ACE Market transfer

<p>The submission of the Real Property Gains Tax (RPGT) Form electronically via e-CKHT on the MyTax portal will be mandatory starting Jan 1, 2025.</p>


Submission of real property gains tax form must be made via e-CKHT on MyTax portal from January 2025 — IRB

<p>Sarawak is set to finalise the sale and purchase agreement for MASwings, a subsidiary regional airline of Malaysia Aviation Group (MAG), by next month, said Premier Tan Sri Abang Johari Tun Openg.</p>


Sarawak set to finalise MASwings acquisition by next month, says Abang Johari

<p>Malaysia must strengthen its collaboration&nbsp;with other countries to mitigate the risks posed by a fragmented global supply chain, especially amid escalating US-China trade tensions, following Donald Trump’s return to the US presidency, Deputy Investment, Trade and Industry Minister Liew Chin Tong said on Monday.</p>


Miti: Malaysia to work with middle powers to address bifurcation of supply chain amid US-China trade war

<p>The global frenzy in AI has turned an obscure Japanese company into a stock-market star.</p>

<p>Fujikura Ltd, which makes wire cabling for data centres, is the best performer on the Nikkei 225 Stock Average index, with its shares surging more than 400% this year.</p>


AI boom makes 139-year-old cable company Japan’s hottest stock

<p>Parties will submit further on Wednesday (Nov 27) on whether former prime minister Datuk Seri Najib Razak and former Treasury secretary general Tan Sri Mohd Irwan Serigar Abdullah should be granted a discharge not amounting to an acquittal (DNAA) in their criminal trial regarding International Petroleum Investment Co (IPIC).</p>


DNAA for Najib, Irwan? Parties to submit further on Wednesday

<p>CGS International expects Affin Bank Bhd's (KL:AFFIN) net profit for the fourth quarter ending Dec 31, 2024 (4QFY2024) to come in lower on a quarterly basis, as it does not expect the bank to see a high write-back in loan loss provision.</p>


Affin's 4Q earnings to decline q-o-q on absence of high loan loss provision write-back — CGS

<p>The US is using Taiwan to provoke a serious crisis in Asia, Russian Deputy Foreign Minister Andrei Rudenko told <em>TASS</em> news agency in remarks published on Sunday, reiterating Moscow's backing of China's stance on Taiwan.</p>


Russia says US using Taiwan to stir crisis in Asia

<p>TMK Chemical Bhd, set to list on Bursa Malaysia's Main Market in December,&nbsp;plans to double its annual manufacturing capacity, with its second plant funded by the initial public offering (IPO) proceeds.</p>


TMK Chemical to double capacity with new plant funded by IPO proceeds

<p>Sarawak Plantation Bhd (KL:SWKPLNT) is expected to see a strong performance in the fourth quarter ending Dec 31, 2024 (4QFY2024) on the back of rising crude palm oil (CPO) prices and operational improvements, said analysts.</p>


Sarawak Plantation set for strong 4Q on rising CPO prices — analysts

<p>Malaysia's hiring outlook continues to see some mismatch in benefits expectations between organisations and professionals going into 2025, which forms roadblocks for&nbsp;organisations looking for the right talent, a survey showed.&nbsp;</p>
