<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 4): UMW Holdings Bhd has proposed to dispose of a 22.22-acre industrial leasehold land within the UMW High Value Manufacturing Park in Serendah, Selangor to Perusahaan Otomobil Kedua Sdn Bhd (Perodua) in a related party transaction.</p></div>

<div class=newsTextDataWrapInner><p>In a stock exchange filing on Monday, UMW said its wholly-owned subsidiary UMW Development Sdn Bhd (UMWD) is selling the land to Perodua's wholly-owned unit Perodua Sales Sdn Bhd for RM52.27 million, cash.</p></div>

<div class=newsTextDataWrapInner><p>UMW owns a 38% stake in Perodua via another wholly-owned subsidiary, UMW Automotive Sdn Bhd.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>UMW said the proceeds from the sale of land will be used for working capital purposes. The group is expected to record a gain of RM6 million from the disposal.</p></div>

<div class=newsTextDataWrapInner><p>“Beyond the transactional benefit of this land sale to UMWD, UMW Group will also benefit from future contribution of Perodua Group by developing and utilising the land for its strategic purpose, where financially, 38% of that will be shared with UMW Group,” the group added.</p></div>

<div class=newsTextDataWrapInner><p>Shares in UMW closed unchanged at RM4.91, giving the group a market capitalisation of RM5.74 billion.</p></div>

<div class=newsTextDataWrapInner><p>Since the beginning of the year, the stock has surged 42.32%.</p></div>


UMW Holdings Bhd has proposed to dispose of a 22.22-acre industrial leasehold land within the UMW High Value Manufacturing Park in Serendah, Selangor to Perusahaan Otomobil Kedua Sdn Bhd (Perodua) in a related party transaction.

UMW to sell industrial land in Serendah to Perodua in related party deal

All three companies linked to Datuk Ng Meng Kee saw the recovery of their share prices earlier in the week wiped out in late Thursday trade.

All 3 Ng Meng Kee-linked firms lose early week gains in 2-day rout  

DUBAI (Nov 5): The UAE's Emirates Group on Thursday said its profits in the first half of the financial year fell 66% year-on-year, as the regional war and high fuel costs hit aviation.

Emirates Group says first-half profit drops 66%

China's vice premier brushed off "completely unfounded" concerns that his country was "squeezing out" other economies as he opened a major business fair on Thursday aimed at enticing importers.

China dismisses accusations of 'squeezing out' other economies

SD Guthrie Bhd (KL:SDG) still sees palm oil hitting RM5,000 per tonne next year as market overestimates output from Indonesia, the world’s largest palm oil producing country.

SD Guthrie still sees palm oil hitting RM5,000 in 2027

BENGALURU (Nov 5): BP said on Thursday that it has raised about US$1.06 billion from selling a 5% stake in Norwegian oil and gas company Aker, as the British energy major streamlines its portfolio and cuts debt under CEO Meg O’Neill.

BP raises roughly US$1 bil from Aker BP stake sale

TOKYO (Nov 5): Sony on Thursday reported a 45% rise in second-quarter operating profit, beating market estimates, due to stronger performance at its games and movies units.

Sony 2Q profit jumps on 'Spider-Man' and PlayStation boost

Pakatan Harapan (PH) is seeking to win the support of about 40,000 Indian voters in the 16th Melaka state election through pledges to strengthen welfare assistance, expand business opportunities and improve access to affordable housing.

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KUALA LUMPUR (Nov 5): Deputy Finance Minister Liew Chin Tong has urged accountants and finance professionals to be multidisciplinary as the positive and negative impacts of artificial intelligence (AI) emerge and continue to occupy the minds of finance leaders in the years ahead.

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SD Guthrie Bhd (KL:SDG) has called on the government to consider temporarily waiving the crude palm oil (CPO) export duty as a measure to resolve the ongoing supply glut.

SD Guthrie calls for export duty waiver to resolve palm oil supply glut

BENGALURU (Nov 5): Microsoft will not exercise an option to more than double the size of its existing agreement with AI cloud provider Nscale to rent more computing power at a Texas data centre, according to a person familiar with the matter.

Microsoft will not expand Texas data center deal with UK's Nscale — Reuters

<p>KUALA LUMPUR (Nov 5): Shares of Capital A Bhd (KL:CAPITALA) and AirAsia Group Bhd (KL:AAGB) rose in early trade on Thursday, amid easing crude oil prices,&nbsp;although an analyst cautioned that the rebound may be short-lived given lingering geopolitical uncertainties.</p>


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<p>Malaysia’s central bank is expected to keep interest rates unchanged at its final policy meeting of the year on Thursday while signaling scope for a hike early in 2027 as economic growth remains strong.</p>


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<p>(Nov 5):&nbsp;The US government borrowed a record US$839 billion in a single week via its sales of Treasury bills and notes — both to repay holders of maturing debt and to raise the additional capital needed to finance the federal deficit.</p>

<p>Auctions of bills, floating-rate notes and Trea...

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<p>Sunway Construction Group Bhd (KL:SUNCON) announced that it has won a RM1.74 billion contract to build a hyperscale data centre in Bandar Serendah, Selangor.</p>


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<p>Malaysia’s central bank stood pat again on Thursday as most expected, holding that the current benchmark interest rate matches its outlook on inflation and growth.</p>


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<p>Oil, chip stocks and the dollar were under pressure in Asia on Thursday and just about everything else was up after US voters swept the Democrats to a series of stunning midterm election wins, a result that raised hopes for an end to the US-Iran war.</p>


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<p>SD Guthrie Bhd (KL:SDG) reported a 17% decline in third-quarter earnings though the world’s largest palm oil producer by acreage is still confident of ending the year strong.</p>


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