<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

(Dec 21): A Starbucks Corp strike of unionised baristas has spread to three more cities in the US, disrupting service during the final days of the crucial holiday season.

Starbucks baristas from three more US cities to join strike

KUALA LUMPUR (Dec 22): The Health Ministry (MOH) does not take lightly the resignation of more than 6,000 doctors over the past five years.

MOH does not take lightly resignation of over 6,000 doctors over past five years — Dzulkefly

KUALA LUMPUR (Dec 21): Prime Minister Datuk Seri Anwar Ibrahim held a meeting on Saturday with local and foreign media practitioners to convey the latest developments about the country's direction related to government policies, as well as various current and future issues in Malaysia.

PM conveys country’s development, direction, policies, current and future issues to media practitioners

KUCHING (Dec 21): A supply interruption caused by generator trip at the Bakun Hydroelectric Plant (HEP) on Saturday afternoon has been fully restored to affected consumers in certain parts of Kuching, Sibu, Bintulu and Miri.

Sarawak Energy: Partial power outage fully restored

(Dec 21): The Biden administration is mulling exempting Mexico from tariffs on imported solar equipment, a last-minute change that would primarily benefit Maxeon Solar Technologies Ltd.

Biden mulls tariff break for solar modules from Mexico

Among all precious gems, diamonds are one of the most sought after and prominent — for good reason. It is their rarity, durability and beauty that inspire the managing director of jewellery company Tomei, Datuk Ng Yih Pyng, to keep them as the focus of his star label, Le Lumiere. With over 30 years of experience under his belt, he has witnessed his fair share of industry evolutions. As technology progresses and diamond reserves begin to run dry, a new competitor — lab-grown stones — has entered the market. What does this mean for the stability of the natural gemstone trade, and what can consumers expect to see in the coming year? Ng gives us his thoughts.

Light fantastic

Lion Group’s property division, Lion Group Property, is looking to expand its industrial park portfolio, says the conglomerate’s executive chairman Tan Sri William Cheng.

Moving further into industrial parks

Pahang Islamic Affairs, Rural Development, and Orang Asli Affairs Committee chairman Datuk Seri Syed Ibrahim Syed Ahmad has confirmed that a video alleging the allocation of durian plantation land in Pahang to retired soldiers is fake.

Video alleging durian land allocation is actually Skim Tanah Rakyat land rights handover, says Pahang MP's rep

The launch of a new direct route from Chennai to Penang, via IndiGo, commencing on Saturday, marks a significant milestone in enhancing connectivity, generating economic opportunities, and solidifying Penang’s position as a regional air travel hub.

Direct route from Chennai elevates Penang as key regional air travel hub, says exco

The world’s biggest stablecoin issuer, Tether Holdings Ltd, is on track to close the year with more than US$10 billion (RM45.07 billion) in net profits, chief executive officer Paolo Ardoino said in an interview.

World’s largest stablecoin issuer Tether sees US$10b in net profits for 2024

<p>Lion Group’s property division, Lion Group Property, is looking to expand its industrial park portfolio, says the conglomerate’s executive chairman Tan Sri William Cheng.</p>


<p>Among all precious gems, diamonds are one of the most sought after and prominent —&nbsp;for good reason. It is their rarity, durability and beauty that inspire&nbsp;the managing director of jewellery company Tomei, Datuk Ng Yih Pyng, to keep them as the focus of his star label, Le Lumiere. With over 30 years of experience under his belt, he has witnessed his fair share of industry evolutions. As technology progresses and diamond reserves begin to run dry, a new competitor — lab-grown stones — has entered the market. What does this mean for the stability of the natural gemstone trade, and what can consumers expect to see in the coming year? Ng gives us his thoughts.</p>


<p>(Dec 21):&nbsp;The Biden administration is mulling exempting Mexico from tariffs on imported solar equipment, a last-minute change that would primarily benefit Maxeon Solar Technologies Ltd.&nbsp;</p>


<p>KUALA LUMPUR (Dec 21): Prime Minister Datuk Seri Anwar Ibrahim held a meeting on Saturday with local and foreign media practitioners to convey the latest developments about the country's direction related to government policies, as well as various current and future issues in Malaysia.&nbsp;</p>


<p>KUALA LUMPUR (Dec 22): The Health Ministry (MOH) does not take lightly the resignation of more than 6,000 doctors over the past five years.</p>


<p>KUCHING (Dec 21): A supply interruption caused by generator trip at the Bakun Hydroelectric Plant (HEP) on Saturday afternoon has been fully restored to affected consumers in certain parts of Kuching, Sibu, Bintulu and Miri.</p>


<p>(Dec 21):&nbsp;A Starbucks Corp&nbsp;strike of unionised baristas has spread to three more cities in the US, disrupting service during the final days of the crucial holiday season.</p>
