<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

Confidence among US homebuilders advanced to a seven-month high in November on a jump in sales expectations and optimism a Trump administration will ease regulatory burdens.

A gauge of housing market conditions from the National Association of Home Builders (NAHB) and Wells Fargo climbed three points to 46 this month, exceeding all estimates in a Bloomberg survey of economists.

US homebuilder sentiment reaches seven-month high after election

An undersea data cable connecting Finland and Germany was severed in the early hours of Monday by what was likely an external impact, authorities in the Nordic country said.

The 1,200km (750-mile) high-speed fibre optic Helsinki-Rostock link serving data centres is damaged in the Baltic Sea east of southern Sweden, and there’s a high likelihood that it’s completely cut as all of its fibre connections are down, executives of its owner and operator Cinia Oy said at a news conference.

Finland says subsea Germany link serving data centres is cut

The only alternative to the UN Palestinian relief agency in Gaza is to allow Israel to run services there, its chief said on Monday, repeating calls for states to resist an Israeli ban.

No alternative to UNRWA in Gaza besides Israel, says agency chief 

Brazil's President Luiz Inacio Lula da Silva opened the summit of the Group of 20 (G20) major economies on Monday with the launch of a global alliance to combat poverty and hunger that 81 countries have agreed to back.

G20 summit kicks off with global pact to fight hunger, poverty

Oil prices rose on news on Monday that output at Norway's giant Johan Sverdrup oilfield has been halted, adding to earlier gains stemming from escalation in the Russia-Ukraine war.

Oil prices rise on Sverdrup outage, Ukraine war escalation

Here is a brief recap of some corporate announcements that made the news on Monday.

CelcomDigi, Ajinomoto, Master Tec, TMC Life Sciences, Perak Transit, UEM Sunrise, EA Technique, AWC, Johor Plantations, Berjaya Corp, REDtone, Mercury Industries, TCS Group, MMAG, Pecca, and OM Holdings

Members of President-elect Donald Trump’s transition team have told advisers they plan to make a federal framework for self-driving vehicles one of the Transportation Department’s priorities, according to people familiar with the matter.

Trump team is seeking to ease US rules for self-driving cars, Bloomberg reports

Wall Street's main indexes were mixed on Monday, as investors looked ahead to earnings from AI-chip leader Nvidia following a rout the previous week on apprehensions about Donald Trump's cabinet appointments and the central bank's policy path.

Wall Street indexes mixed; Nvidia earnings, Fed policy in focus

The new leadership change in the US is expected to affect the global trade landscape, particularly in trade relations between the US and China.

The Ministry of Investment, Trade and Industry (Miti) said that should the geopolitical issues continue, there is a greater opportunity for other countries such as Malaysia to become alternative destinations for multinational companies to increase or start their investments.

US-China trade war can boost Malaysia's chances to be multinational investment destination — Miti

Pharmaceutical company YSP Southeast Asia Holding Bhd (KL:YSPSAH)’s net profit fell 41.9% to RM3.47 million in the third quarter ended Sept 30, 2024 (3QFY2024), from RM5.98 million a year ago, dragged by foreign exchange (forex) loss and lower sales.

YSP's 3Q profit falls 42% on forex losses, lower sales

<p>TMC Life Sciences Bhd (KL:TMCLIFE) saw its net profit for the first financial quarter ended Sept 30, 2024 (1QFY2025) fall 80.6% to RM2.94 million from RM15.14 million a year ago, as the healthcare group posted a lower revenue while its staff costs and other operating expenses rose.</p>


TMC Life Sciences 1Q net profit drops 81%

<p>A major shareholder of Lagenda Properties Bhd (KL:LAGENDA) and Epicon Bhd (KL:EPICON) has triggered a takeover offer for Mercury Industries Bhd (KL:MERCURY) after having purchased over half of the contractor’s equity interest.</p>


Lagenda Properties, Epicon major shareholder Doh Tee Leong triggers takeover offer of Mercury Industries

<p>Gandingan Jakel Sdn Bhd said it is actively working with Kuala Lumpur City Hall (DBKL) to address concerns at its J Satine project in Wangsa Maju, following a stop-work order issued by the authorities on Nov 8.</p>


Gandingan Jakel says working with City Hall to address J Satine's stop-work order

<p>Businessman Chung Chee Yang, who emerged as Cape EMS Bhd’s (KL:CEB) substantial shareholder last week, has mopped up an additional 3.39 million shares in the company.</p>


Cape EMS’s new substantial shareholder Chung Chee Yang continues to raise stake

<p>HSBC Holdings plc has asked hundreds of managers to reapply for jobs in the firm’s newly formed corporate and institutional banking division as chief executive officer Georges Elhedery continues his hunt for ways to make the bank run more efficiently.</p>


HSBC managers are competing to keep their jobs in CEO’s revamp, Bloomberg reports

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


<p>Johor Plantations Group Bhd (KL:JPG) said on Monday that it has appointed Johor Corporation (JCorp) affiliated company JL Projects Sdn Bhd as the project manager consortium (PMC) for the construction of its integrated sustainable palm oil complex (ISPOC) for RM30.99 million.</p>


Johor Plantations appoints JCorp unit to oversee construction of integrated refinery in Kota Tinggi

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


EVENING 5: Five things you need to know today

<p>The Civil Aviation Authority of Malaysia (CAAM) has issued a safety directive, banning the use of smart baggage or rather "scooters" as a mode of transportation, in airport aprons.</p>

<p>Its chief executive officer, Datuk Capt Norazman Mahmud in a safety information dated Nov 15 said while rideable smart baggage offers convenience to passengers, its use in restricted areas such as the apron poses significant safety risks.</p>


Smart baggage banned in airport aprons — CAAM

<p>Ajinomoto (Malaysia) Bhd's (KL:AJI) net profit surged 76.66% to RM18.29 million in the second quarter ended Sept 30, 2024 (2QFY2025), from RM10.35 million a year ago, helped by stronger sales from both consumer business and industrial business segments, and lower raw material costs.</p>


Ajinomoto's 2Q profit jumps 77% on higher sales, lower raw material costs

<p>Nestcon Bhd’s (KL:NESTCON) wholly owned subsidiary Nestcon Infra Sdn Bhd has received a letter of award for rock blasting and general works required for road and drainage systems.</p>


Nestcon secures RM32 mil contract for mixed-use development in Damansara Perdana

<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Monday.</p>


FBM KLCI up 0.73% to 1,604.04 on Nov 18, 2024

<p>The 13th Malaysia Plan (13MP) emphasises a need for talent development reforms in the country to meet workforce needs in the high-income economic sector, said Economy Minister Rafizi Ramli.</p>


Rafizi: 13MP to focus on talent development reforms

<p>Power cable manufacturer Master Tec Group Bhd’s (KL:MTEC) third quarter net profit only grew marginally year-on-year, despite revenue jumping 34.4%, as its gross profit margin fell to 11.3% from 16.6%, its bourse filing on Monday showed.</p>


Master Tec sees little increase in 3Q profit despite revenue jumping 34% as margin drops

<p>Singapore police ended their pursuit of 15 people involved in the country’s largest-ever money laundering scandal, after the suspects agreed to surrender a total of S$1.85 billion (US$1.4 billion or RM6.26 billion) worth of assets to authorities.</p>


Singapore ends pursuit of money launderers who forfeited US$1.4 bil

<p>Berjaya Corp Bhd (KL:BJCORP), or BCorp, said it has sold 32 million shares or 4.14% equity stake in REDtone Digital Bhd (KL:REDTONE) on Monday, for RM29.76 million in cash.</p>


BCorp trims 4.14% stake in REDtone, to book RM7.7m gain

<p>KUALA LUMPUR (Nov 18): Packaging solutions provider, Public Packages Holdings Bhd (KL:PPHB) said on Monday it anticipates that its performance will remain encouraging after net profit rose 13.14% in the third quarter. &nbsp;</p>

<p>Public Packages’ net profits for the three months ended Sept 3...

Public Packages Holdings optimistic after net profit rises 13.14% in 3Q

<p>A three-member Court of Appeal bench had reserve its judgment in giving a decision over the appeal by Malaysia Competition Commission (MyCC) over a High Court’s decision last year that quashes its “proposed decision” on imposing a propose fine of RM86.77 million against Grab Holdings Inc, together with its subsidiaries GrabCar Sdn Bhd and MyTeksi Sdn Bhd.</p>


Appellate court reserves judgment in MyCC's appeal against Grab on quashing RM86.77 mil proposed decision

<p>Pecca Group Bhd (KL:PECCA) has on Monday declared a special dividend of 1.5 sen per share for the financial year ended June 30, 2024 (FY2024), which amounts to RM11.28 million.</p>


Pecca declares 1.5 sen special dividend, total dividend amounts to 6.5 sen per share

<p>Wall Street's main indexes were mixed on Monday, as investors looked ahead to earnings from AI-chip leader Nvidia following a rout the previous week on apprehensions about Donald Trump's cabinet appointments and the central bank's policy path.</p>
