<div class=newsTextDataWrapInner>KUALA LUMPUR (March 8): Australia &amp; New Zealand Banking Group Ltd's ANZ Funds Pty Ltd&nbsp;has completed the disposal of 16.5% or 545.83 million AMMB Holdings Bhd shares, reducing its stake in the lender to 5.17%, according to a filing to Bursa Malaysia on Thursday.</div>

<div class=newsTextDataWrapInner>The disposal was pursuant to the block trade agreement dated March 5, 2024 entered into between ANZ Funds, Merrill Lynch (Singapore) Pte Ltd and CIMB Investment Bank Bhd.</div>

<div class=newsTextDataWrapInner>It was reported that the share sale, priced at RM3.85 per share or over RM2.1 billion, had&nbsp;been upsized from its initial plan to sell a 9% stake in the company also known as AmBank previously reported by The Edge.</div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner>Once completed, the sale will reduce its shareholding in AmBank to 5.2% from 21.7%, "in line with ANZ’s strategy of simplifying the bank", &nbsp;ANZ said in a statement on Wednesday.</div>

<div class=newsTextDataWrapInner>Read also: 
<a href="https://theedgemalaysia.com/node/703614" target="_blank">ANZ to sell 16.5% in AMMB in upsized RM2.1b deal</a> 
&nbsp;</div>

Australia & New Zealand Banking Group Ltd's ANZ Funds Pty Ltd, has completed the disposal of 16.5% or 545.83 million AMMB Holdings Bhd shares, reducing its stake in the lender to 5.17%, according to a filing to Bursa Malaysia on Thursday.

ANZ now holds 5.17% in AMMB after completion of share sale

The chair and top Democrat on a US House of Representatives committee on China on Friday told the CEOs of Google-parent Alphabet and Apple they must be ready to remove TikTok from their US app stores on Jan 19.

US lawmakers tell Apple, Google to be ready to remove TikTok from app stores on Jan 19

A top trade adviser to President-elect Donald Trump told Reuters on Thursday that the new administration would not look "fondly" on any attempt by China to manipulate its currency, responding to a Reuters report that authorities there were considering allowing the yuan to weaken next year.

Peter Navarro, Trump's incoming senior counselor for trade and manufacturing, said the White House would not interfere with the Treasury Department's biannual review looking into whether foreign trade partners are manipulating their currencies.

Trump trade adviser warns against currency manipulation as China mulls weaker yuan

The Malaysian Pharmacists Society (MPS) strongly advocates for the development of a national health financing (NHF) system as an urgent priority to address escalating healthcare costs, enhance access and establish a sustainable healthcare model for all Malaysians.

National health financing system necessary to address escalating healthcare costs — pharmacists 

Former finance minister Lim Guan Eng is opposing Tan Sri Muhyiddin Yassin's request to postpone the payment of the judgment debt of RM1.402 million in their defamation case.

Guan Eng rejects Muhyiddin’s request to postpone payment of RM1.4m in defamation damages

Wall Street's main indexes rose on Friday with Nasdaq outperforming after an upbeat forecast from Broadcom kept alive the euphoria around artificial intelligence and lifted chip stocks.

Broadcom, chip stocks power Wall Street higher

Broadcom is predicting a massive expansion in demand for chips that power AI — and the market, for now, is buying it all the way.

Broadcom hits trillion-dollar valuation on lofty forecasts for AI demand

Police are tracking down a woman who claimed she would be marrying the Crown Prince of Pahang, Tengku Hassanal Ibrahim Alam Shah.

Pahang police tracking woman claiming she will marry Tengku Hassanal

US import prices barely rose in November as increases in the costs of food and fuels were partially offset by decreases elsewhere, thanks to a strong dollar and suggesting that inflation pressures could subside in the months ahead.

US import prices rise marginally in November

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

Lotte Chemical Titan, Yinson, Telekom Malaysia, T7 Global, Datasonic, Exsim Hospitality, Sime Darby, Carzo, GIIB

A former remisier pleaded not guilty in the Sessions Court here on Friday to a charge of defrauding the son of former Federal Territories minister Datuk Seri Raja Nong Chik Raja Zainal Abidin in the purchase of a golf equipment supply company's shares last year.

Ex-remisier accused of scamming son of former FT minister in connection with golf company stock purchase

Former finance minister Lim Guan Eng is opposing Tan Sri Muhyiddin Yassin's request to postpone the payment of the judgment debt of RM1.402 million in their defamation case.

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

Telekom Malaysia (KL:TM) has unveiled its GPU-as-a-Service (GPUaaS) — a cloud computing service model that provides access to high-performance graphics processing units (GPUs) over the internet where users can rent GPU resources on a pay-as-you-use basis — and announced it has secured an international client with its latest offering.

Telekom Malaysia unveils GPU-as-a-Service, secures new international client

Shareholders of Datasonic Group Bhd (KL:DSONIC) have rejected the company's proposal to relax the requirement to adopt directors' written resolutions at its extraordinary general meeting (EGM).

This was one of two resolutions that were not passed at the EGM, which saw a total of five resolutions brought up for voting by its shareholders.

Datasonic shareholders reject relaxed requirement for directors' resolution; ESOS options for director Tunku Nooruddin

Yinson Holdings Bhd (KL:YINSON) has appointed its chief strategy officer Chai Jia Jun to take on the role of group chief financial officer, while maintaining his current position.

Yinson's chief strategy officer Chai Jia Jun to take on CFO role

Two dozen migrant workers who allege they were subjected to forced labour at a Malaysian factory while making parts for British vacuum cleaner manufacturer Dyson can sue the company in London, the Court of Appeal ruled on Friday.

Malaysian workers' lawsuit against Dyson revived by UK court 

A former remisier pleaded not guilty in the Sessions Court here on Friday to a charge of defrauding the son of former Federal Territories minister Datuk Seri Raja Nong Chik Raja Zainal Abidin in the purchase of a golf equipment supply company's shares last year.

Wall Street's main indexes rose on Friday with Nasdaq outperforming after an upbeat forecast from Broadcom kept alive the euphoria around artificial intelligence and lifted chip stocks.

Police are tracking down a woman who claimed she would be marrying the Crown Prince of Pahang, Tengku Hassanal Ibrahim Alam Shah.

Exsim Hospitality Bhd (KL:EXSIMHB), formerly known as Pan Malaysia Holdings Bhd, has secured a sub-contract worth RM20.98 million for renovation works on 62 office units located on Old Klang Road.

The sub-contract was awarded to its wholly-owned subsidiary, Exsim Concepto Sdn Bhd, by interior renovator firm Ntim Reno Sdn Bhd, according to the group’s filing with Bursa Malaysia on Friday.

Exsim Hospitality bags renovation job worth RM21 mil

The Independent Steel Committee (ISC), which was formed by the Ministry of Investment, Trade, and Industry (Miti) in January 2024, has completed its consultations with various stakeholders about the industry's current challenges and future aspirations and presented its findings to the ministry for further action.&nbsp;

Independent Steel Committee completes stakeholder consultations, Miti to align iron and steel industry with NIMP 2030

Loss-making group Carzo Holdings Bhd (KL:CARZO) announced that its wholly-owned subsidiary, Carzo Sdn Bhd (CZSB), has been served with a writ of summons and statement of claims from its fruit supplier.

Carzo unit gets writ and summons to pay RM48,705 to its supplier 

Invest Selangor Bhd said on Friday that potential deals worth up to RM3.2 billion were recorded during the fourth edition of its Selangor Aviation Show (SAS) in September.

Invest Selangor sees RM3.2b potential deals from Selangor Aviation Show, bags over 41 MOUs

(Dec 13): The Trump transition team wants the incoming administration to drop a car-crash reporting requirement opposed by Elon Musk’s Tesla, according to a document seen by Reuters, a move that could cripple the government’s ability to investigate and regulate the safety of vehicles with ...

Trump transition recommends scrapping car-crash reporting requirement opposed by Tesla

The Malaysian Pharmacists Society (MPS) strongly advocates for the development of a national health financing (NHF) system as an urgent priority to address escalating healthcare costs, enhance access and establish a sustainable healthcare model for all Malaysians.

The chair and top Democrat on a US House of Representatives committee on China on Friday told the CEOs of Google-parent Alphabet and Apple they must be ready to remove TikTok from their US app stores on Jan 19.

President Emmanuel Macron picked Francois Bayrou to be France’s new prime minister, calling on a longstanding centrist ally to navigate a fractured political landscape that toppled the previous administration.

Macron names centrist Bayrou as new French prime minister

Fashion firm Carlo Rino Group Bhd (KL:CRG), which will see the transfer of its listing from Bursa Malaysia's LEAP Market to ACE Market on Dec 18, reported a net profit of RM2.34 million or 0.29 sen per share for its first financial quarter ended Sept 30, 2024.&nbsp;

Fashion firm Carlo Rino posts RM2.34m quarterly profit ahead of listing transfer

Investors poured money into Chinese stocks over the past week again as the country’s leaders vowed to boost growth with more stimulus measures, according to Bank of America Corp strategists.

BofA says investors rush to China stocks after Politburo pledge

Diversified group Sime Darby Bhd (KL:SIME) has successfully issued the fifth tranche of its sukuk murabahah programme under its unrated Islamic commercial papers and medium-term notes, to raise RM200 million.