<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Nov 14): Teo Seng Capital Bhd is selling a leasehold two-storey detached factory in Singapore for SG$8.5 million (about RM29.41 million), as the 19-year-old property remains under-utilised, since most of the group’s egg exports are directly delivered to wholesalers in the island nation.</p></div>

<div class=newsTextDataWrapInner><p>The disposal gives rise to an opportunity to strengthen its liquidity and cash flow, which can be channelled to repayment of bank borrowings and working capital, Teo Seng said in a stock exchange filing on Tuesday.</p></div>

<div class=newsTextDataWrapInner><p>Teo Seng bought the property in May 2015 at SG$8.0 million or about RM21.55 million, and the factory building is currently occupied by the group for its operations in Singapore, including warehousing, distribution and sale of eggs, as well as the provision of cold room and chiller room services.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The buyer is Rachelle The Rabbit Meadery Pte Ltd, an alcohol production company, with Wang Xizhu and Zhao Shuyi each owning a 34% stake, Triumph Dream Ltd holding 20%, and Tan Hon Liang, Zhao Fang and Wang Ting each owning 4%.</p></div>

<div class=newsTextDataWrapInner><p>Teo Seng expects the disposal to be completed by the third quarter of next year.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Teo Seng, which gained nearly 90% year-to-date, closed four sen or 3.0% higher at RM1.38 on Tuesday, giving it a market capitalisation of RM414.01 million.</p></div>


Teo Seng Capital Bhd is selling a leasehold two-storey detached factory in Singapore for SG$8.5 million (about RM29.41 million), as the 19-year-old property remains under-utilised, since most of the group’s egg exports are directly delivered to wholesalers in the island nation.

Teo Seng sells two-storey factory in Singapore for RM29.41m

The Melaka state government is setting its sights on bolstering its local business landscape by encouraging more companies in the state to be listed on Bursa Malaysia.

Melaka aims to boost local businesses, eyes more listings on Bursa Malaysia

The government is currently studying the proposal from marine robotics company Ocean Infinity to resume the search for Malaysia Airlines Flight MH370, which went missing while en route to Beijing 10 years ago.

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Construction work on the East Coast Rail Link (ECRL) project in Kelantan, Terengganu, Pahang and Selangor has reached an average of 65% as of April, said Transport Minister Anthony Loke.

Progress of ECRL project in four states reaches 65%, says Loke

A training aircraft crashed in the Besout 2 Tambahan plantation area in Sungkai on Saturday.

Light aircraft crashes in Sungkai, two passengers survive

Malaysia's latest position in the Press Freedom Index is still considered good compared to the previous government, said Communications Minister Fahmi Fadzil.

Malaysia's press freedom index position is still good, says Fahmi

The Philippines central bank will require financial institutions to submit a report within 24 hours of discovering risks linked to money laundering and terrorist financing, as the Southeast Asian nation steps up its fight against illicit transactions.

Philippines' central bank tightens dirty money risk reporting rule

Indonesia will permanently relocate some 10,000 people living on an island in North Sulawesi following concerns that more eruptions could come from an active volcano that has already caused damages.

Indonesia relocates 10,000 people after volcano eruptions

The Kuala Kubu Baharu (KKB) by-election campaign is entering a critical period for all contesting parties and candidates to redouble their efforts to win as many votes as possible.

KKB polls: Parties, candidates redoubling efforts as campaign enters critical period

Hollywood superstar and acclaimed Malaysian actress Tan Sri Michelle Yeoh has received the prestigious Presidential Medal of Freedom from US President Joe Biden on Friday.

Michelle Yeoh receives Presidential Medal of Freedom from Biden

This year marks the 30th anniversary of the United Nations’ International Year of the Family (IYF). In the decades since the IYF was proclaimed, demographic shifts, technological transformations, migration, urbanization, and climate change have upended societies around the world. Responding effec...

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<p>Hollywood superstar and acclaimed Malaysian actress Tan Sri Michelle Yeoh has received the prestigious Presidential Medal of Freedom from US President Joe Biden on Friday.</p>


<p>King Charles and other senior British royals are to relinquish patronages of almost 200 charities and organisations after a review of their association with more than 1,000 groups, Buckingham Palace said on Saturday.</p>


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<p>A training aircraft crashed in the Besout 2 Tambahan plantation area in Sungkai on Saturday.</p>


<p>The Kuala Kubu Baharu (KKB) by-election campaign is entering a critical period for all contesting parties and candidates to redouble their efforts to win as many votes as possible.</p>


<p>US Treasury Secretary Janet Yellen said she still sees underlying price pressures receding even as a tight housing supply has helped stall the downward path of inflation.</p>


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<p>Construction work on the East Coast Rail Link (ECRL) project in Kelantan, Terengganu, Pahang and Selangor has reached an average of 65% as of April, said Transport Minister Anthony Loke.</p>


<p>Google and the US Justice Department wrapped up closing arguments on Friday over claims that the Alphabet unit has unlawfully dominated web search and related advertising, in a case the government contends could shape the “future of the internet”.</p>


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<p>Indonesia will permanently relocate some 10,000 people living on an island in North Sulawesi following concerns that more eruptions could come from an active volcano that has already caused damages.</p>


<p>The Philippines central bank will require financial institutions to submit a report within 24 hours of discovering risks linked to money laundering and terrorist financing, as the Southeast Asian nation steps up its fight against illicit transactions.</p>


<p>The government is currently studying the proposal from marine robotics company Ocean Infinity to resume the search for Malaysia Airlines Flight MH370, which went missing while en route to Beijing 10 years ago.</p>


<p>This year marks the 30th anniversary of the United Nations’ International Year of the Family (IYF). In the decades since the IYF was proclaimed, demographic shifts, technological transformations, migration, urbanization, and climate change have upended societies around the world. Responding effec...

<p>Malaysia's latest position in the Press Freedom Index is still considered good compared to the previous government, said Communications Minister Fahmi Fadzil.</p>


<p>The Melaka state government is setting its sights on bolstering its local business landscape by encouraging more companies in the state to be listed on Bursa Malaysia.</p>
