<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 22): The Armed Forces Fund Board (LTAT) offer to take Boustead Plantations Bhd (BPlant) private has now become unconditional after it accumulated 2.02 billion BPlant shares, representing 90.26% of the total issued shares on Friday.</p></div>

<div class=newsTextDataWrapInner><p>As LTAT accumulates 90% or more of Boustead Plantations' shares, Bursa Securities will now suspend the trading of Boustead Plantations' shares five days after the closing date of the offer.</p></div>

<div class=newsTextDataWrapInner><p>However, LTAT will keep its RM1.55 per share offer to take BPlant private open until Jan 5, 2024, with the option for further extensions, according to BPlant's bourse filing on Friday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Independent adviser Malacca Securities stated earlier this month that LTAT's offer is "not fair" but "reasonable" and recommended BPlant shareholders to accept the offer.</p></div>

<div class=newsTextDataWrapInner><p>LTAT’s takeover offer came after Kuala Lumpur Kepong Bhd's RM1.15 billion takeover bid for BPlant fell through in October.</p></div>

<div class=newsTextDataWrapInner><p>Shares of BPlant closed unchanged at RM1.55, valuing it at RM3.47 billion.</p></div>


The Armed Forces Fund Board (LTAT) offer to take Boustead Plantations Bhd (BPlant) private has now become unconditional after it accumulated 2.02 billion BPlant shares, representing 90.26% of the total issued shares on Friday.

LTAT's takeover of Boustead Plantations becomes unconditional

Gateway Development Alliance (GDA), the consortium proposing to privatise Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT), said it is maintaining its offer of RM11 per share, after the airport operator’s independent directors reommended shareholders to reject the offer.

GDA maintains RM11 offer for MAHB, challenges independent directors’ rejection

(Dec 20): It’s been a challenging couple of years for real estate stocks since the Federal Reserve started raising interest rates in 2022, as borrowing costs soared and the property market collapsed. And despite a healthy rebound in the middle of 2024, the outlook for 2025 isn’t particularly...

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ECA Integrated Solution Bhd (KL:ECA) has proposed to expand its presence in China by investing in automated equipment manufacturer Suzhou Thryda Co Ltd (Thryda).

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The S&P 500 and the Nasdaq dipped on Friday as fears over high interest rates next year loomed, although a cooler-than-expected inflation report kept losses in check.

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Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.

MAHB, Top Glove, Catcha Digital, Johor Plantations, Kawan Renergy, Mega First, PLB Engineering, Bahvest, Smile-Link 

The workers' union representing over 10,000 baristas at Starbucks said its members will strike at stores in Los Angeles, Chicago, and Seattle for five days starting Friday, citing unresolved issues over wages, staffing and schedules.

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A Madrid court has sentenced former International Monetary Fund chief Rodrigo Rato to almost five years in prison for various crimes related to corruption, the court said on Friday.

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Auditing firm HLB Ler Lum Chew said on Friday that a special notice for a resolution to remove the firm as the external auditor of Smile-Link Healthcare Global Bhd (KL:SMILE) had been immediately retracted, and that is the reason why the firm had not made any written representation on the matter

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The US$10.4 trillion (RM46.82 trillion) US exchange-traded fund (ETF) industry’s blockbuster year comes with an asterisk: even amid record inflows and launches, funds are shuttering at a nearly unprecedented clip.

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US consumer spending increased in November, underscoring the economy's enduring strength, which prompted the Federal Reserve this week to project fewer interest rate cuts in 2025 than it had three months ago.

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<p>Top Glove Corp Bhd (KL:TOPGLOV) expects further sales recovery and projects its glove sales volume in FY2025 to grow 60% to 43 billion pieces, on industry stock replenishment and increase in sales flow from the US as a result of the 50% tariff on China-made gloves set to start on Jan 1, 2025.</p>


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<p>The ringgit is expected to remain under pressure against the US dollar as the US Federal Reserve’s (Fed) less dovish monetary stance continues to support the greenback, said Kenanga Research.</p>


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<p>Bank Negara Malaysia announced that the government, together with insurers, takaful operators (ITOs) and private hospitals, will contribute a total of RM60 million to speed up health reforms in the country.</p>


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<p>Mega First Corp Bhd (KL:MFCB) announced that its executive director, Goh Nan Yang, will step down from his position effective Dec 31, upon the expiry of his employment contract.</p>


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<p>Bursa Malaysia (KL:BURSA) saw a total of 55 initial public offerings (IPOs) this year, &nbsp;up 72% from the 32 IPOs listed last year.</p>


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<p>Here is a brief recap of some business news and corporate announcements that made the headlines on Friday.</p>


<p>Johor Plantations Group Bh (KL:JPG) has appointed Tg Langsat Development Sdn Bhd (TLD) as an earthwork and main infrastructure contractor for its Integrated Sustainable Palm Oil Complex (iSPOC) project in Johor for RM39.04 million.</p>


Johor Plantations appoints JCorp unit as main infra contractor for Kota Tinggi palm oil project

<p>Auditing firm HLB Ler Lum Chew said on Friday that a special notice for a resolution to remove the firm as the external auditor of Smile-Link Healthcare Global Bhd (KL:SMILE) had been immediately retracted, and that is the reason why the firm had not made any written representation on the matter</p>


<p>A Bitcoin slide from a record high earlier this week extended to more than 10%, as reduced scope for looser US monetary policy dampened speculative zeal.</p>


Bitcoin pullback deepens as US ETFs suffer record daily outflow

<p>PLB Engineering Bhd’s (KL:PLB) external auditors, Grant Thornton Malaysia PLT, have expressed an unmodified audit opinion with material uncertainty regarding the group's ability to continue as a going concern.</p>


PLB Engineering’s auditor flags material uncertainty over group’s ability to continue as going concern

<p>ACE Market-listed Kawan Renergy Bhd (KL:KENERGY) reported an all-time high earnings for its financial year ended Oct 31, 2024 (FY2024) as full year net profit surged 44.5% to an all-time high of RM19.22 million, compared with RM13.3 million in FY2023.</p>


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


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<p>Bahvest Resources Bhd (KL:BAHVEST) has proposed to buy mining equipment from China-based Chengdu Mining Maintenance Technology Co Ltd for RM22.82 million, to be used to build a new gold mining processing plant.</p>


Bahvest buys mining equipment from Chinese firm to build new plant

<p>Hon Hai Precision Industry Co, the Taiwan-based manufacturer of iPhones known as Foxconn, is putting its interest in pursuing Nissan Motor Co on hold while the Japanese automaker is in negotiations for a potential merger with Honda Motor Co, according to a person familiar with the matter.</p>


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<p>Gateway Development Alliance (GDA), the consortium proposing to privatise Malaysia Airports Holdings Bhd (MAHB) (KL:AIRPORT), said it is maintaining its offer of RM11 per share, after&nbsp;the airport operator’s independent directors reommended shareholders to reject the offer.</p>


<p>Prime Minister Datuk Seri Anwar Ibrahim on Friday firmly stated that he did not interfere with the court's decision to acquit and discharge Datin Seri Rosmah Mansor from charges related to money laundering and tax evasion.</p>


Anwar asserts had no hand in Rosmah’s acquittal

<p>The Galen Centre for Health and Social Policy says urgent reforms are needed to address the root causes of healthcare inflation in Malaysia.</p>

<p>While it welcomed the interim measures that Bank Negara Malaysia (BNM) just announced to address the burden of rising medical insurance premiums on policyholders, it cautioned that the measures provide only temporary relief.</p>


Galen Centre: Insurance premium relief not enough, urgent healthcare reforms needed

<p>Nvidia Corp won unconditional European Union (EU) approval to buy Israeli startup Run:ai, which develops software for handling artificial intelligence (AI) computing resources.</p>

<p>The European Commission said in a statement on Friday that the takeover didn’t pose any competition threats across the 27-member bloc despite Nvidia’s position as a “leading producer of key hardware for AI applications used in the EU and beyond”.&nbsp;</p>


Nvidia gets unconditional EU nod to buy Israel’s Run:ai 

<p>The Malaysian Communications and Multimedia Commission (MCMC) on Friday published a code of conduct aimed at ensuring that internet messaging and social media service providers uphold online safety and security, particularly for children and vulnerable groups.</p>


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<p>Tourism Malaysia felicitated India’s travel industry players for their role in promoting the destination, as arrivals from India reached a new record.</p>

<p>Malaysia is now truly established as a leading holiday spot for outbound Indian travellers, Malaysian High Commissioner to India Datuk Muzafar Shah Mustafa said.</p>
