<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

Thong Guan Industries Bhd (KL:TGUAN) has proposed a seven sen per share special dividend from proceeds of the sale of its food and beverage (F&B) business to its largest shareholder Foremost Equals Sdn Bhd for RM60 million.

Thong Guan proposes seven sen dividend from proceeds of sale of F&B business to major shareholder for RM60m

A total of 10 investment projects have been approved for the country's aerospace industry from 2020 to 2023 with an investment value of RM513.4 million, creating more than 700 jobs during this period.

10 aerospace-related projects worth over RM500 mil approved until 2023 — Miti

US electric vehicle (EV) maker Tesla has used components from about 45 local suppliers directly or indirectly to date, which also involves technology transfer to the suppliers, according to the Investment, Trade and Industry Ministry (Miti).

The local producers are used mainly for the provision of semiconductor components, machinery inspection and factory automation system, it explained.

Tesla using components from local suppliers, involved in technology transfer — Miti

The government is focusing on key aspects of the semiconductor value chain, particularly front-end research and development (R&D) such as integrated circuit design and wafer fabrication, to boost the industry’s growth.

Govt targets front-end R&D to drive semiconductor industry growth — Miti

Taiwan's government said on Thursday that the son of jailed former senior Chinese leader Bo Xilai was visiting the island for personal reasons after marrying a Taiwan citizen, a rare trip for someone linked to China's political elite.

Taiwan says son of jailed former senior Chinese official Bo Xilai is visiting

Pawnbroker Pappajack Bhd (KL:PPJACK), whose shares will be transferred from the ACE Market to the Main Market of Bursa Malaysia on Friday (Nov 22), saw its net profit rise 8.2% to RM6.52 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM6.03 million a year earlier, on the back of a 19.3% increase in gross profit from both the pawnbroking segment and sales of unredeemed or bid pledges.

Pappajack's 3Q net profit up 8%, declares 0.5 sen dividend

Boustead Singapore has announced that its engineering and construction (E&C) business, under Boustead Projects’ real estate solutions division, has secured an E&C contract in Malaysia valued at RM300 million (S$90 million).

Boustead Singapore secures RM300 mil E&C contract in Malaysia

Bursa Malaysia Bhd is optimistic about the outlook for 2025, citing a robust pipeline of initial public offerings (IPOs) and an active capital market, said chairman Tan Sri Abdul Wahid Omar.

Bursa Malaysia confident in next year's growth with active IPO pipeline, says Wahid Omar

The Kelantan government has urged that all ongoing federal government projects in the state be expedited to ensure the availability of infrastructure, which is crucial for attracting foreign investment.

Kelantan calls for faster delivery of federal projects to boost state economy

The October 2024 Supplementary Electoral Roll (DPT BLN10/2024) is open for review for 30 days from Thursday until Dec 20, said Election Commission (EC) Secretary Datuk Ikmalrudin Ishak.

October 2024 Supplementary Electoral Roll open for review — EC

<p>(Nov 21):&nbsp;Dyson Ltd&nbsp;is dialling back its hairdryer-related operations in Malaysia, according to people familiar with the matter who declined to be identified discussing matters that are private, as the consumer goods company seeks to streamline its business in the region.</p>


Dyson dials back Malaysian hairdryer ops, redeploys staff in Johor — Bloomberg

<p>Petronas Chemicals Group Bhd (KL:PCHEM) may be in for tougher days ahead following a massive paper loss that sent the company into the red for the first time ever and prompted analysts to cut their forecasts.</p>


Petronas Chemicals' outlook gloomy, analysts warn amid mounting joint venture losses

<p>IOI Properties Group Bhd (KL:IOIPG) has officially relaunched the Putrajaya Marriott Hotel in IOI Resort City last week after completing a RM100 million renovation.</p>

<p>Sitting on 6.5 acres of land, the five-star Putrajaya Marriott Hotel is managed by IOI Properties and comprises 487 guest rooms, including 35 exclusive suites. The renovations took place from Feb 2023 till Nov 2024 and were carried out in phases. The massive undertaking focused on the refitting and renewal of its guest rooms, lobby, restaurants and private villa.</p>


IOI Properties relaunches Putrajaya Marriott Hotel after RM100m renovation

<p>KUALA LUMPUR (Nov 21): Malaysia’s central bank made two unusual changes to the government bond auction calendar by rescheduling a tender set for this month, and scrapping another pencilled in for December.</p>


BNM reschedules govt bond auction, scraps one issue in unusual move

<p>Sime Darby Property Bhd (KL:SIMEPROP) is working urgently with authorities to help resolve the recurring flood incidents in Bandar Bukit Raja, said managing director Datuk Seri Azmir Merican.</p>


Tackling floods in Bandar Bukit Raja a top priority, says Sime Darby Property

<p>KUALA LUMPUR (Nov 21): Mah Sing Group Bhd (KL:MAHSING) has unveiled the sales gallery of its RM850-million M Aspira serviced-apartment project in Taman Desa, Kuala Lumpur on Wednesday (Nov 20).&nbsp;</p>


Mah Sing unveils M Aspira sales gallery in Taman Desa

<p>Starbucks Corp is exploring options for its Chinese operations including the possibility of selling a stake in the business, according to people with knowledge of the matter.</p>


Starbucks said to consider selling stake in Chinese business

<p>China's Huawei plans to start mass-producing its most advanced artificial intelligence chip in the first quarter of 2025, even as it struggles to make enough chips due to US restrictions, said two people familiar with the matter.</p>


Huawei aims to mass-produce newest AI chip in early 2025, despite US curbs

<p>PARAMARIBO (Nov 20): Suriname's state-run oil company Staatsolie said on Wednesday that US oil giant ExxonMobil has withdrawn from its offshore block 52, and block operator Petronas Suriname E&amp;P will take over its 50% stake.</p>


Suriname’s Staatsolie says ExxonMobil has withdrawn from offshore block, Petronas’ unit to take over 50% stake

<p>Sime Darby Property Bhd (KL:SIMEPROP) on Thursday said that the company is seeking more assets that would generate recurring income for the real estate developer.</p>


Sime Darby Property seeks more assets generating recurring income

<p>The extended six-year contract signed between the government and Bestinet Sdn Bhd for the Foreign Worker Centralised Management System (FWCMS) could cost the government a minimum of RM3.2 billion, according to a report by the Public Accounts Committee (PAC).</p>


Bestinet's contract extension for foreign worker system could cost govt at least RM3.2b — PAC

<p>Globetronics Technology Bhd (KL:GTRONIC) has inked an agreement valued at RM145 million to provide integrated circuit (IC) product packaging, testing and backend services to Taiwan-based ChipMOS Technologies Inc.</p>


Globetronics secures RM145 mil contract to provide assembly and test services to Taiwan’s ChipMOS

<p>Shares of Adani Group companies lost about US$28 billion (RM125.3 billion) in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.</p>


India's Adani Group sees US$30b in value wiped off after US indictments 

<p>Northern Solar Holdings Bhd has signed an underwriting agreement with M&amp;A Securities Sdn Bhd for its proposed initial public offering (IPO) on the ACE Market of Bursa Malaysia.</p>

<p>The solar energy firm said its IPO scheduled to take place in February 2025, entails a public issue of 67.3 million new shares and the sale of 35.6 million existing shares.</p>

<p>All in all, the listing would offer investors up to a 26% stake in the company.</p>


Northern Solar Holdings signs underwriting agreement with M&A Securities

<p>EIGHTEEN months after its decision to abandon the single wholesale network (SWN) structure and transition to a dual 5G network, Malaysia sprang yet another surprise by selecting U Mobile Sdn Bhd, the third and smallest of the three bidders that qualified, for the coveted second 5G spectrum bid on...

Cover Story: Untangling the second 5G network puzzler 

<p>KUALA LUMPUR (Nov 21): E-services provider MyEG Services Bhd’s (KL:MYEG) earnings are expected to continue to be boosted by contributions from its Zetrix-related applications, prompting an earnings upgrade from at least one analyst.&nbsp;</p>


Zetrix-related services to continue to boost MyEG’s earnings — analysts

<p>China has found gold reserves worth 600 billion yuan (US$82.9 billion or RM370.9 billion) in central Hunan province, state outlet <i>Xinhua</i> news said on Thursday.</p>


China finds US$83b worth of gold reserves in Hunan 

<p>KUALA LUMPUR (Nov 21): Analysts have raised their earnings forecasts and target prices on Hap Seng Plantations Holdings Bhd (KL:HSPLANT), after the plantation group outperformed market expectations in its latest quarterly results.</p>


Analysts raise forecasts after Hap Seng Plantations’ quarterly results beat expectations

<p>Prime Minister Datuk Seri Anwar Ibrahim said on Thursday that about 70% to 80% of the costs of his official trips to five countries over the past two weeks were paid by private companies.</p>


Private firms paid up to 80% of costs for recent official trips abroad, Anwar tells Dewan Rakyat

<p>The High Court here has ordered the Royal Malaysian Police (PDRM) to complete investigations on the death of Teoh Beng Hock within six months from Thursday.</p>
