<div class=newsTextDataWrapInner><p>KUALA LUMPUR (April 3): Precision parts manufacturer Kobay Technology Bhd said its 70%-owned subsidiary Avelon Healthcare Sdn Bhd has secured banking facilities totalling RM21 million from CIMB Islamic Bank Bhd.</p></div>

<div class=newsTextDataWrapInner><p>Of this, RM15 million comprises a revolving credit for the acquisition of a company and subsequent working capital needs, Kobay said, without naming the company.</p></div>

<div class=newsTextDataWrapInner><p>Last month, Kobay announced that Avelon Healthcare had completed the acquistion of a medical products distributor, Medicwave (M) Sdn Bhd, for RM15.12 million cash.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In a bourse filing on Wednesday, Kobay said the balance of the banking facilities will mainly be used for working capital purposes.</p></div>

<div class=newsTextDataWrapInner><p>Kobay has reported a 66% year-on-year decline in net profit to RM3.07 million for its second quarter ended Dec 31, 2023 due to a shift towards lower-margin sales, subdued demand, and elevated setup costs. Quarterly revenue decreased 6% to RM77.25 million.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Kobay closed unchanged at RM1.66 on Wednesday, giving the group a market capitalisation of RM531.5 million.</p></div>


Precision parts manufacturer Kobay Technology Bhd said its 70%-owned subsidiary Avelon Healthcare Sdn Bhd has secured banking facilities totalling RM21 million from CIMB Islamic Bank Bhd.

Kobay unit secures RM21 mil banking facilities for acquisition, working capital

Housing and Local Government Minister Nga Kor Ming urged the international community to promote people-public-private partnerships (4P) for sustainable cities and communities.

Speaking at the 12th World Urban Forum Business Assembly in Cairo, Egypt he said a better quality of life for the citizens cannot be delivered without the full participation of the private sector.

Nga calls for global support of people-public-private partnership for sustainable cities

Ann Joo Resources Bhd (KL:ANNJOO) said its rights issue of 140.35 million shares with free detachable warrants has been oversubscribed by 31.4%.

Ann Joo’s rights issue sees 31% oversubscription

SHANGHAI (Nov 5): The principle of the policy of shared future is well received by countries in Asia, Africa, Latin America and the Global South, and that is precisely the reason why Malaysia agreed to participate in BRICS (Brazil, Russia, India, China, and South Africa), Malaysia’s Prime Minister Datuk Sri Anwar Ibrahim said on Tuesday.

Anwar: China’s principle of shared future inspires Malaysia to participate in BRICS

Fraser & Neave Holdings Bhd's (KL:F&N) net profit for the fourth quarter ended Sept 30, 2024 (4QFY2024) dropped 38.21% year-on-year to RM84.99 million from RM137.56 million, impacted by higher tax expenses and increased withholding taxes on dividends repatriated from its Thailand operations.

F&N profit falls 38% on higher taxes from Thai ops, pays lower dividend of 33 sen

Apollo Global Management Inc’s push to target wealthy individuals helped boost the firm’s assets under management to US$733 billion (RM3.18 trillion), a 16% increase over the same period a year earlier.

Apollo Assets reach US$733 bil with boost from wealth clients

NEWS: IOI sees less than 1.5% impact from labour policy changes

French financial prosecutors searched the offices of private equity firm CVC Capital Partners and France’s football governing body on Tuesday as part of an investigation into possible corruption.

CVC offices searched in French football deal corruption probe

Restaurant Brands International Inc, the owner of Burger King and Tim Hortons, posted sales that grew slower than expected in the third quarter (3Q), highlighting many chains’ struggle to attract diners grappling with elevated costs.

Restaurant Brands' 3Q sales disappoint on North America weakness

Schroders plc shares tumbled the most in more than four years after the firm reported £2.3 billion (RM12.99 billion) of quarterly outflows and warned of £10 billion more.

Schroders shares plunge after £10 bil outflow warning

NXP Semiconductors NV fell in late trading after giving a disappointing forecast for fourth-quarter (4Q) sales and earnings, hurt by a slowdown from automotive customers and weak industrial demand.

NXP tumbles after auto industry slump weighs on forecast

<p>The High Court here has ordered an automotive trader of parts and lubricants to pay RM516,777 to Perodua Otomobil Kedua Sdn Bhd and Perodua Sales Sdn Bhd for selling counterfeit Perodua lubricants bearing Perodua trademarks.</p>


Automotive trader ordered to pay RM516k to Perodua for selling counterfeit lubricants

<p>KUALA LUMPUR (Nov 5): The Road Transport Department (RTD) and the Transport Ministry have been issued a letter of demand (LOD) over alleged copyright infringement in relation to the special “MADANI” vehicle number plates.</p>


Special ‘MADANI’ vehicle number plates: RTD, Transport Ministry hit with letter of demand for ‘copyright infringement’

<p>WHILE equity analysts are mixed on the possible outcome of the much-anticipated US presidential election on Tuesday (Nov 5), they observe that investors are taking a wait-and-see approach since a Democratic or Republican victory will have a different impact on market sentiments and performance.</p>


Trump or Harris win will impact market differently, say analysts

<p>KUALA LUMPUR (Nov 5): Palm oil prices will strengthen in 2025, as tight supply of edible oil boosts earnings of Malaysian planters, AmInvestment Bank said in recommending that investors add exposure to the sector.</p>


Palm oil prices set to rally in 2025, with AmInvestment now overweight on plantation

<p>Maybank Investment Bank has warned Asean investors of potential economic turbulence and a surge in trade tensions, amid anticipation of more import tariff hikes&nbsp;if Donald Trump wins a second term as the US president.</p>


Maybank IB tells clients to go defensive, warns of potential economic risks brought by new US president

<p>THE Genting group seems to have been dealt several bad hands in North America this year.</p>

<p>About three weeks ago, Genting Malaysia Bhd’s (GenM) (KL:GENM) indirect wholly-owned subsidiary Genting Americas Inc, which operates the Resorts World Bimini (RW Bimini) in the Bahamas, was named by...

Cost of seeking growth abroad for Genting Malaysia

<p>Logistics service firm Xin Hwa Holdings Bhd (KL:XINHWA) said on Tuesday its cargo transport unit’s licence to transport goods has been suspended by authorities, which it expects to adversely impact its operations.</p>


Xin Hwa warns of adverse impact as cargo transport unit’s licence suspended by authorities

<p>KUALA LUMPUR (Nov 5): Malaysia aims to attract both affluent locals and foreigners having assets under management (AUM) between RM500 million and RM1.2 billion to establish their family offices in the country over the next five years.</p>


Amir Hamzah: Malaysia to attract family offices with assets of RM500m to RM1.2b

<p>The top 15% (T15) income group to be excluded from the proposed targeted RON95 petrol subsidy will not be solely defined by the Household Income Survey, said Finance Minister II Datuk Seri Amir Hamzah Azizan.</p>


Household income not sole measure for defining T15, says Amir Hamzah of targeted RON95 subsidy

<p>Malaysia's rubber glove export is expected to climb 16% to a new record of RM13.7 billion in 2024, following the historic high of RM11.8 billion achieved in 2023, said Deputy Plantation and Commodities Minister Datuk Chan Foong Hin.</p>


Malaysia's rubber glove exports to hit new record high this year, says Plantation Ministry

<p>The liquidator of Semantan Estate (1952) Sdn Bhd, the firm embroiled in the ‘Duta Enclave’ dispute, is appealing against the High Court’s decision on Sept 12&nbsp;to allow a stay to the Federal Territory Land Registrar of having to register the transfer of ownership from the Malaysian government to the company within three months of its Aug 7 decision.</p>


Semantan Estate liquidator also appealing stay granted to FT Land Registrar

<p>Shares of Petronas Chemicals Group Bhd (KL:PCHEM) fell to their lowest in four and a half years after dropping 44 sen or 8.04% to close at RM5.03 on Tuesday, a level last seen in April 2020, as expectations mount that the group would be posting weaker results.</p>


PetChem shares dive to lowest in over four years as expectations for weaker earnings mount

<p>IHH Healthcare Bhd (KL:IHH) has completed the acquisition of Island Hospital, a 600-bed facility in Penang, for an equity consideration of approximately RM3.9 billion.</p>


IHH Healthcare completes acquisition of Island Hospital in Penang for RM3.9 bil

<p>ON Tuesday, Nov 5, Americans will go to the polls to elect their 47th president. Incumbent Joe Biden’s four-year term of office ends at noon on Jan 20 next year, when a new president will be sworn in. Since mid-July when Biden, 82, announced that he would not seek re-election, the race has litera...

Who will win the US election and should you care?

<p>The federal government will incorporate policies for the adoption of nuclear energy in the nation's energy mix under the upcoming 13th Malaysia Plan, set to be implemented from 2026 to 2030, as part of its goal to achieve net zero carbon emissions by 2050.</p>


Government to include nuclear energy policies in 13th Malaysia Plan — Rafizi

<p>KUALA LUMPUR (Nov 5): IOI Corp Bhd (KL:IOICORP) estimates that the revision of the new minimum wage to RM1,700 from RM1,500, together with the introduction of mandatory foreign worker contribution to the Employees Provident Fund (EPF) that was announced recently under Budget 2025, will impact less than 1.5% of the group’s annual net profit.</p>


IOI Corp sees less than 1.5% impact on profit from mandatory foreign worker contribution to EPF, new minimum wage

<p>KUALA LUMPUR (Nov 5): Shares of Dayang Enterprise Holdings Bhd (KL:DAYANG) rose on Tuesday after bagging a contract, and analysts say the win reinforced their view that the oil-and-gas services firm would be in line for more jobs.</p>


Dayang Enterprise’s shares rally on contract win, analysts upbeat on more jobs ahead

<p>Boeing's US West Coast factory workers accepted a new contract offer on Monday, ending a bitter seven-week strike that halted most jet production and deepened a financial crisis at the troubled planemaker.</p>


Boeing strike ends as workers accept new contract

<p>Construction firm Aneka Jaringan Holdings Bhd (KL:ANEKA) has secured a RM39 million contract to undertake earthwork, piling, pile caps and contiguous bored piling works in Jalan Pantai Sentral, Kuala Lumpur.</p>


Aneka Jaringan secures RM39 mil construction contract in Kuala Lumpur

<p>KUALA LUMPUR (Nov 5): The method for determining the T15 group, the search efforts for flight MH370 and measures taken by&nbsp;the government&nbsp;to address delays in&nbsp;flood mitigation projects&nbsp;will be&nbsp;among highlights of Tuesday’s&nbsp;Dewan Rakyat sitting.</p>
