<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

SEG International Bhd’s (SEGi) group managing managing director and major shareholder Tan Sri Clement Hii has bought out private equity firm Navis Capital Partners Ltd' 20.55% stake in SEGi for RM112.98 million cash — or 45 sen per share — triggering a mandatory takeover offer to buy the remaining shares in the education group that mainly runs tertiary colleges at the same price.

Clement Hii buys out PE fund Navis Capital in SEGi, triggers mandatory offer

(April 30): Mauritius’ top telecommunications company is in talks with operators including Reliance Jio Infocomm Ltd and Orange SA for a new undersea cable linking Africa, Indian Ocean islands and Asia, improving redundancy in a region hit by breakdowns.

Mauritius Telecom in talks for subsea cable to link Africa, Asia

PT CIMB Niaga Tbk, the 92.5%-owned subsidiary of CIMB Group Holdings Bhd, reported a 6.3% year-on-year growth in its consolidated net income for the financial quarter ended March 31, 2024 (1QFY2024). The bank attributed the improved earnings to healthy loan growth, improved asset quality indicators and effective cost management.

CIMB Niaga’s 1Q consolidated net income up 6.3%

Oil palm plantation player MKH Oil Palm (East Kalimantan) Bhd (MKHOP) is the second company this year to conclude its maiden trading day on Bursa Malaysia with its share price slipping below its initial public offering (IPO) price.

MKH Oil Palm sinks at close of its main market debut

KUALA LUMPUR (April 30): When it comes to technology (tech), the goal should not be to use the most difficult tech available to do something. Instead, the ultimate goal is to make it simple and cost-effective. This is what Michele Ferrario, co-founder and chief executive officer of Stashaway, aims to achieve with the robo-advisory platform.

Keeping it simple

Atrium Real Estate Investment Trust (REIT) saw its net rental income increase by 20.24% to RM10.65 million for the first quarter ended March 31, 2024 (1QFY2024), from RM9.22 million a year before.

Atrium REIT 1Q net rental income up 20%, pays 2 sen DPU

KUALA LUMPUR (April 30): Rimbunan Sawit Bhd has allocated as much as RM308.5 million for the operating costs, capital expenditures and plantation development expenditures of its financial year ending Dec 31, 2024 (FY2024).

Rimbunan Sawit allocates RM309m in capex, operating and development costs for FY2024

The late Datuk Azlin Alias, who had been former prime minister Datuk Seri Najib Razak's principal private secretary up until his death, had instructed former 1Malaysia Development Bhd’s (1MDB) chief financial officer (CFO) Azmi Tahir to sign off on some funds transfers meant for investments including the multi-billion Tun Razak Exchange project, the High Court heard on Tuesday.

MACC IO says 'Azlin told Azmi to sign docs'

Shares in Oppstar Bhd rose to a five-month high on Tuesday after the integrated circuit (IC) design service provider announced it is partnering with South Korea’s tech giant Samsung Electronics Co Ltd to produce industrial ICs.

Oppstar surges to five-month high after announcing Samsung tie-up

The upcoming development of the PKNS Square project in Seksyen 14 is poised to invigorate the economy and rejuvenate activities in Shah Alam city centre, said Selangor Menteri Besar Datuk Seri Amirudin Shari.

PKNS Square development will revitalise Shah Alam city centre, says Selangor MB

<p>KUALA LUMPUR (April 30): Sime Darby Plantation Bhd, the world’s largest palm oil producer by acreage, said on Tuesday that it plans to change its name to SD Guthrie Bhd.</p>


Sime Darby Plantation plans to change name to SD Guthrie

<p>The Malaysian Bar filed a judicial review application last Friday (April 26) to seek a declaration that the decision by the Federal Territories Pardons Board on Jan 29 to halve Datuk Seri Najib Razak's jail sentence from 12 years to six years and reduce the fine in his SRC International graft conviction from RM210 million to RM50 million is unconstitutional, void, and unlawful.</p>


Malaysian Bar challenges Pardons Board decision to reduce Najib’s sentence

<p>Shares in Oppstar Bhd rose to a five-month high on Tuesday after the integrated circuit (IC) design service provider announced it is partnering with South Korea’s tech giant Samsung Electronics Co Ltd to produce industrial ICs.</p>


<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP) opened at 63 sen in its Main Market debut on Tuesday, up 1.6% from its initial public offering (IPO) price of 62 sen.</p>


MKH Oil Palm rises 1.6% to 63 sen in Main Market debut 

<p>RHB Investment Bank Research has maintained its “overweight” rating on the rubber products sector and said it expects glove makers to record positive quarter-on-quarter (q-o-q) net profit growth in the upcoming March quarterly reporting season.</p>


RHB sees glove makers recording positive q-o-q net profit growth in March earnings

<p>KUALA LUMPUR (April 30): The average price for new apartments in Kuala Lumpur has surged to RM708,462, which is seen as surpassing the national average and setting a new benchmark in the industry, according to the real estate technology group Juwai IQI.</p>


Average new apartment price in Malaysia hits RM582,887, surpassed by KL and Johor  — Juwai IQI

<p>Indonesia is planning to offer dual citizenship to its skilled diaspora as part of efforts to stem a brain drain of local talent.</p>


Indonesia plans to offer dual citizenship to halt brain drain

<p>Microsoft will invest US$1.7 billion (RM8.1 billion) over the next four years into expanding cloud services and artificial intelligence in Indonesia, including building data centres, visiting chief executive Satya Nadella said on Tuesday.</p>


Microsoft to invest US$1.7b in cloud, AI in Indonesia, CEO says

<p>Ekuiti Nasional Bhd, the state-owned private equity firm also known as Ekuinas, said on Tuesday it has acquired an 80% stake in pharmaceutical ingredients maker Symbiotica Speciality Ingredients Sdn Bhd.</p>


Ekuinas acquires 80% stake in pharma ingredients maker Symbiotica

<p>The Securities Commission Malaysia (SC) has updated its Investor Alert List.</p>


SC adds two potential clones to Investor Alert List

<p>HSBC said on Tuesday its chief executive Noel Quinn will retire — a surprise departure by its hard-nosed leader of five years who has overseen a sweeping series of asset sales across the globe.</p>


HSBC chief executive Quinn announces surprise retirement

<p>KUALA LUMPUR (April 30): Stock exchange operator Bursa Malaysia Bhd said on Tuesday that its net profit rose 34% in the first quarter of the year, from a year earlier, thanks to higher trading activity and fees from listings and other services.</p>


Bursa Malaysia’s 1Q net profit surges 34%, optimistic to hit 2024 targets

<p>KUALA LUMPUR (April 30): Kucingko Bhd said on Tuesday that it has secured approval from Bursa Malaysia for an initial public offering (IPO) on the bourse’s ACE Market, setting it to be the first animation production studio to be listed on the Malaysian stock exchange.&nbsp;</p>


Animation production house Kucingko gets nod from Bursa for ACE Market IPO

<p>KUALA LUMPUR (April 30): Shares of Nestlé (Malaysia) Bhd (Nestlé Malaysia) rose to its highest in eight months after reporting results that came in slightly ahead of expectations, though analysts flagged sales pressure ahead for the food-and-drink company.</p>


Nestle Malaysia shares rise to eight-month high after 1Q results

<p>SEG International Bhd’s (SEGi) group managing managing director and major shareholder Tan Sri Clement Hii has bought out private equity firm Navis Capital Partners Ltd' 20.55% stake in SEGi for RM112.98 million cash — or 45 sen per share — triggering a mandatory takeover offer to buy the remaining shares in the education group that mainly runs tertiary colleges at the same price.</p>


<p>The High Court has ruled that the Joint Management Body (JMB) of Centrestage Petaling Jaya had the right to claim certain areas in the development as common areas and not private areas belonging to the developer and the purchaser.</p>


High Court rules that common areas in Centrestage PJ belong to Joint Management Body

<p>Hong Leong Investment Bank (HLIB) Research has valued ACE Market-bound Sin-Kung Logistics Bhd at 17 sen, based on 15x price earnings ratio on FY2024F of 1.1 sen.</p>


HLIB values ACE Market-bound Sin-Kung Logistics at 17 sen

<p>Elon Musk has dismissed two Tesla senior executives and plans to lay off hundreds more employees, frustrated by falling sales and the pace of job cuts so far, <i>The Information</i> reported on Tuesday, citing the CEO's email to senior managers.</p>


Musk lays off Tesla senior executives in fresh job cuts — report

<p>It’s “better to ask for forgiveness than permission” when it comes to complying with the law, the billionaire founder of the Binance cryptocurrency exchange once told his team, according to the US government.</p>


Binance and CZ’s fortunes are set to grow, jail or no jail 

<p>MKH Oil Palm (East Kalimantan) Bhd (MKHOP), fresh off its Main Market debut on Tuesday, said it has no replanting plans as almost all of its prime mature oil palm trees are over a decade-old.</p>
