<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 24): The public portion of metal fabricator Wentel Engineering Holdings Bhd’s initial public offering (IPO) was oversubscribed by 17.72 times against the proposed 57,500,000 issue shares.</p></div>

<div class=newsTextDataWrapInner><p>A statement by the placement agent, Tricor Investor &amp; Issuing House Services Sdn Bhd on Wednesday stated that a total of 10,430 applications for 1,076,196,900 issue shares with a value of RM279,811,194.00 were received from the Malaysian public.</p></div>

<div class=newsTextDataWrapInner><p>Also, the 33,000,000 issue shares made available for application by the eligible directors, employees and other persons who have contributed to the success of the group have also been fully subscribed.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The 38,950,000 issue shares and 46,000,000 offer shares made available by way of private placement to selected investors, as well as the 143,750,000 issue shares made available by way of private placement to Bumiputera investors approved by the Ministry of Investment, Trade and Industry, have all been fully placed out, it added.</p></div>


The public portion of metal fabricator Wentel Engineering Holdings Bhd’s initial public offering (IPO) was oversubscribed by 17.72 times against the proposed 57,500,000 issue shares.

Wentel Engineering IPO oversubscribed by 17.72 times

New-home sales in the US rebounded last month as builders and consumers sealed deals that had been delayed by storms in the South, and buyers took advantage of heavy sales incentives.

Sales of new single-family homes increased 5.9% last month to a 664,000 annualised rate, according to government data issued on Monday.

US new-home sales rebound in November after storm-stricken month

The Malaysian Communications and Multimedia Commission (MCMC) is taking immediate action to address scams relating to MyPR (Red IC) application on Facebook, said Deputy Communications Minister Teo Nie Ching.

Deputy minister urges caution, vows swift action against red IC scams

US consumer confidence unexpectedly sank in December for the first time in three months on concerns about the outlook for the economy amid uncertainty around the Trump administration’s policies.

US consumer confidence falls as politics weigh on outlook

Daiwa Securities Group Inc may need more time to achieve profit in China, according to the head of Japan’s second biggest brokerage, reflecting how investment banks continue to struggle on the mainland.

Daiwa’s China venture may take longer to make profit, says CEO 

Wall Street's main indexes were mixed at the start of a holiday-shortened week on Monday, after a stopgap government funding bill averted a partial shutdown and investors braced for a slower pace of rate cuts from the US central bank next year.

Wall Street opens mixed as holiday-shortened week starts

Luigi Mangione, the man accused of fatally gunning down UnitedHealth Group executive Brian Thompson on a Manhattan street, pleaded not guilty on Monday to New York state murder charges that brand him a terrorist.

Suspect in UnitedHealth executive's killing pleads not guilty to murder, terrorism charges

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

KLCCP Stapled, Tuju Setia, Coastal Contracts, Powerwell, Prolintas, Malayan Flour Mills, Malakoff, Heitech Padu, Supercomnet, ECM Libra, Esthetics International 

The Energy Commission (EC) was to inform winners of the fifth large scale solar bidding round (LSS5) beginning Monday, following nine months of deliberation since it was opened in April this year.

Energy Commission says LSS5 bids finalised but mum on winners

Walmart Inc and one of its financial technology partners allegedly opened expensive bank accounts for delivery drivers without their consent, a US consumer protection agency said on Monday.

CFPB sues Walmart, fintech partner for illegal account openings

Orders placed with US factories for business equipment rebounded in November, posting the strongest monthly advance in over a year.

Orders for US business equipment rise by most in over a year

<p>HeiTech Padu Bhd (KL:HTPADU) said on Monday that its group managing director and group chief executive officer, Salmi Nadia Mohd Hilmey, is resigning voluntarily&nbsp;from all positions within the company, effective from Dec 31.</p>


HeiTech Padu deputy chairman's daughter relinquishes all positions

<p>ECM Libra Group Bhd’s (KL:ECM) 50%-owned unit OHG Services Sdn Bhd will pay Malaysia Airports (Sepang) Sdn Bhd RM29.9 million to extend its concession agreement to manage and operate a 'limited-service hotel' at the Kuala Lumpur International Airport (KLIA) for another 35 years.</p>


ECM Libra unit pays RM30m to extend hotel concession in KLIA for another 35 years

<p>Capital A Bhd is in discussions with aircraft manufacturers Airbus, Embraer and Comac to purchase new aircraft as part of its expansion strategy for its airline operations under the AirAsia brand.</p>


AirAsia in talks to buy new aircraft as part of expansion strategy — Tony Fernandes

<p>Capital A Bhd is expected to exit Practice Note 17 (PN17) status by the first quarter of next year after submitting its proposed regularisation plan to Bursa Malaysia Securities Bhd on Monday.</p>


Capital A to exit PN17 status by 1Q2025, says CEO

<p>Public approval for Prime Minister Datuk Seri Anwar Ibrahim rose to 54% after two years in power, according to the latest polling published by the research house Merdeka Center last Friday.</p>


Public approval for Anwar, unity govt rises in second year, survey shows

<p>Power and water company Malakoff Corp Bhd (KL:MALAKOF) has redesignated its executive vice-chairman Tan Sri Che Khalib Mohamad Noh as non-independent non-executive chairman, effective from January 2025.</p>


Malakoff redesignates Che Khalib as non-executive chairman

<p>Oil and gas services provider Coastal Contracts Bhd (KL:COASTAL) said a consortium led by the group has secured the bid to develop a 15MWac large-scale solar photovoltaic (PV) plant on Sabah's east coast.</p>


Coastal Contracts consortium wins bid for Sabah LSS power plant project

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


<p>Asian investors should focus back on the domestic economy, and countries such as Malaysia, India, Indonesia, and Thailand have favourable demographics to support domestic consumption, said British asset management firm Schroders.</p>


Investors should refocus on Asia's economy, Malaysia's domestic spending — Schroders

<p>The Biden administration on Monday announced a last-minute trade investigation into Chinese-made "legacy" semiconductors that could heap more US tariffs on chips from China that power everyday goods from autos to washing machines to telecoms gear.</p>


Biden launches new US trade probe into legacy Chinese chips

<p>Electrical products manufacturer Powerwell Holdings Bhd (KL:PWRWELL) has secured a RM27 million contract to supply low-voltage switchboards for a data centre project in Malaysia.</p>


Powerwell wins RM27m contract to supply switchboards for data centre

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>Greenland is not for sale, its elected leader said on Monday, responding to comments made by US President-elect Donald Trump regarding the "ownership and control" of the vast Arctic island that has been part of Denmark for over 600 years.</p>


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<p>The Energy Commission (EC) was to inform winners of the fifth large scale solar bidding round (LSS5) beginning Monday, following nine months of deliberation since it was opened in April this year.</p>


<p>Elon Musk, the billionaire tasked with making the US government more efficient come January, has zeroed in on the Federal Reserve.</p>


Musk makes ‘overstaffed’ US Fed target in quest for efficiency

<p>KL-Kuala Selangor Expressway Bhd (Latar), previously known as Lebuhraya Assamjawa Taman Rimba Bhd, has initiated legal action to enforce an arbitration award totalling RM46.13 million against highway concessionaire Prolintas Expressway Sdn Bhd, a subsidiary of Prolintas Infra Business Trust (KL:PLINTAS).</p>


Latar goes to court to enforce RM46 mil arbitration award against Prolintas

<p>China's domestic demand is gathering pace as cautious consumers increasingly choose to rent items from cameras to handbags rather than buying them, the official <i>People's Daily</i> said, though government data tell a different story.</p>


Chinese media hail consumption boost even as caution spurs rentals, not buying

<p>Malayan Flour Mills Bhd's (KL:MFLOUR) said its partially-owned unit, Dindings Poultry Development Centre Sdn Bhd (DPDC), is seeking a judicial review of the Competition Appeal Tribunal's (CAT) decision to reject its request for a stay on a RM70.02 million penalty imposed by the Malaysia Competition Commission (MyCC) over alleged price-fixing cartel activities.</p>


Malayan Flour Mills unit challenges appeal tribunal's rejection of stay of MyCC’s penalty

<p>LAST week, Public Accounts Committee (PAC) chairperson Datuk Mas Ermieyati Samsudin said during a press conference in parliament that it would be investigating sovereign wealth fund Khazanah Nasional Bhd’s controversial deals as part of its schedule for next year, including the proposal to take M...

GDA defends ‘low offer’ for MAHB 

<p>The Russian Ministry of Transport is holding negotiations on launching direct flights to Brazil, Malaysia and Pakistan, Minister Roman Starovoyt said in an interview with<em> Russian News Agency </em>(<em>TASS</em>).</p>
