<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 9): Glove manufacturer Supermax Corp Bhd (KL:<a href="/askedge/klse/7106" class="ce-stock" target="_blank">SUPERMX</a>)&nbsp;is acquiring the remaining 33% equity interest in its 67%-owned subsidiary Supermax Healthcare Canada Inc (SHCI) for C$5.5 million (RM18.96 million) cash.</p></div>

<div class=newsTextDataWrapInner><p>Supermax is acquiring the stake from Sylvain Bergeron, who has been a business partner of the company since 2004 when Supermax's founder and managing director Datuk Seri Stanley Thai Kim Sim partnered with Bergeron to start the Canadian branch of Supermax.</p></div>

<div class=newsTextDataWrapInner><p>"As he (Bergeron) is retiring, Supermax is taking this opportunity to acquire the remaining 33% equity interest of SHCI," Supermax said in a filing with Bursa Malaysia on Thursday.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>SHCI is principally involved in the marketing, importing and distribution of latex gloves for the Supermax group in Canada. Based on the audited accounts of SHCI as at June 30, 2023, the company incurred a net loss of C$15.3 million, while its net book value stood at C$73.6 million.</p></div>

<div class=newsTextDataWrapInner><p>Supermax said the purchase consideration will be financed by internal funds.</p></div>

<div class=newsTextDataWrapInner><p>Supermax shares slipped 0.5 sen or 0.57% to close at 87 sen per share on Thursday, giving it a market capitalisation of RM2.35 billion.</p></div>


Glove manufacturer Supermax Corp Bhd (KL:SUPERMX) is acquiring the remaining 33% equity interest in its 67%-owned subsidiary Supermax Healthcare Canada Inc (SHCI) for C$5.5 million (RM18.96 million) cash.

Supermax is acquiring the stake from Sylvain Bergeron, who has been a business partner of the company since 2004 when Supermax's founder and managing director Datuk Seri Stanley Thai Kim Sim partnered with Bergeron to start the Canadian branch of Supermax.

Supermax acquires remaining stake in 67%-owned loss-making Canadian unit for RM18.96 mil cash

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

Binastra Corp, Mah Sing, T7 Global, JF Technology, VS Industry, Solarvest Holdings, Magni-Tech Industries

Financially distressed MMAG Holdings Bhd (KL:MMAG) has taken a step forward in its recovery efforts by securing a partnership with Malaysia Airlines Bhd.

MMAG signs deal to serve as MASKargo's exclusive freighter operator

Wall Street's main indexes were subdued in choppy trading on Tuesday after the S&P 500 and the Nasdaq notched record high levels in the last session, with focus on a crucial jobs report later this week along with more data and commentary from Federal Reserve officials.

Wall Street muted with focus on more data, US Fed commentary

Despite widespread concern that generative AI could interfere with major elections around the globe this year, the technology had limited impact across Meta Platforms' apps, the tech company said on Tuesday.

Meta says gen AI had muted impact on global elections this year

US job openings increased moderately in October while layoffs declined, suggesting the labour market continued to slow in an orderly fashion.

US job openings rise in October, layoffs decrease

Singapore and Australia agreed on Tuesday to seek opportunities for increased access to their respective defence facilities, including more frequent Australian visits to the city-state's air force and navy bases.

Australia, Singapore agree to seek expanded access to their defence facilities

Chinese companies should be wary of buying US chips as they are "no longer safe" and buy locally instead, four of the country's top industry associations said on Tuesday in a rare coordinated response to Washington's curbs on Chinese chipmakers.

US chips are 'no longer safe,' Chinese industry bodies say in latest trade salvo

Investment company Abrdn plc, formerly known as Aberdeen Asset Management plc, has emerged as a substantial shareholder in Feytech Holdings Bhd (KL:FEYTECH), after raising its stake to 5.21% or 43.91 million shares.

Abrdn emerges as substantial shareholder in Feytech

Cloudpoint Technology Bhd (KL:CLOUDPT) said it has secured a RM33.6 million contract to implement advanced integrated service management automation (ISMA) solutions from a local bank.

Cloudpoint Technology bags management automation solutions contract from local bank

The founding couple of FashionValet Sdn Bhd (FashionValet), who have been linked to the investment losses of Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), will be charged at the Kuala Lumpur Sessions Court on Thursday.

FashionValet founders to be charged on Thursday, says MACC chief

<p>Vietnamese tycoon Truong My Lan has lost her appeal against the death sentence handed down in April for masterminding the country’s largest-ever fraud scandal.</p>


Vietnamese tycoon loses death penalty appeal over fraud scandal

<p>China has banned exports to the US of items related to the minerals gallium, germanium and antimony that have potential military applications, its commerce ministry said on Tuesday, a day after Washington's latest crackdown on China's chip sector.</p>


China bans export of key minerals to US as trade frictions escalate

<p>Mah Sing Group Bhd (KL:MAHSING) is acquiring 59.12 acres (23.93 hectares) of prime land in the Pulai district of Johor Bahru for RM62.98 million, which will be developed into super-linked homes with an estimated gross development value (GDV) of RM463 million.</p>


Mah Sing buys Johor Bahru land for township project with GDV of RM463 mil

<p>Construction outfit Binastra Corp Bhd (KL:BNASTRA) on Tuesday said it had bagged a building contract worth RM327.74 million to build two blocks of a 58-storey serviced apartment for The Vividz @ Bukit Jalil project.</p>


Binastra wins RM328m building contract for Bukit Jalil serviced apartment

<p>The Malaysian Meteorological Department (MetMalaysia) has issued a weather warning for thunderstorms, heavy rain and strong winds in eight states, expected to continue until late this afternoon.</p>

<p>In a statement, MetMalaysia said the adverse weather conditions are also forecast to affect the Federal Territories of Kuala Lumpur and Putrajaya.</p>


Thunderstorms, heavy rain, strong winds expected in eight states — MetMalaysia

<p>Analysts have revised their earnings forecasts for Malaysian stocks and trimmed the year-end target for the benchmark FBM KLCI following mixed results across sectors in the July-September quarter (3Q2024).</p>

<p>In a note, UOB Kay Hian has trimmed earnings forecasts for the FBM KLCI by 0.8% for 2024 and 1.7% for 2025, driven by downgrades in the plantation and consumer sectors and weakness in the oil and gas shipping segment.</p>


Analysts revise KLCI growth forecast after mixed 3Q, cut year-end target

<p>Amazon Web Services (AWS) on Monday announced that Mesolitica, a Malaysian startup specialising in training large language models (LLMs), has built a Malay-language generative artificial intelligence (GenAI) LLM called MaLLaM on its cloud services.</p>

<p>The MaLLaM can understand local nuances, such as slang and colloquialisms that merge different dialects, Bahasa Melayu, and 16 other regional languages, for use in AI-assistants across industries.</p>


AWS announces GenAI large language model in Malay built by Malaysian startup on its cloud services

<p>KUALA LUMPUR (Dec 3): JF Technology Bhd (KL:JFTECH) is set to begin selling and distributing its products in the US by January 2025, following a cross-licensing agreement signed with US-based Ironwood Electronics in July.&nbsp;</p>


JF Technology to begin selling in US by January 2025

<p><br />
KUALA LUMPUR (Dec 3): Sime Darby Property Bhd’s (KL:SIMEPROP) two recent launches — JUMPA @ Elmina Valley and Kanopi — have recorded strong take-up rates, according to a media statement by the developer on Friday (Nov 29). &nbsp;</p>


Strong take-ups for Sime Darby Property’s recent launches in Elmina City Centre, Shah Alam

<p>South Korean President Yoon Suk Yeol on Tuesday declared martial law in a surprise late-night TV address, slamming domestic political opponents and sending shockwaves through the country.</p>


South Korea President Yoon declares martial law, slams domestic opponents 

<p>(Dec 3):&nbsp;Cargill Inc&nbsp;is cutting thousands of jobs globally, after the largest privately held company in the US missed profit targets.</p>


Cargill to cut thousands of jobs globally as profits shrink

<p>The founding couple of FashionValet Sdn Bhd (FashionValet), who have been linked to the investment losses of Khazanah Nasional Bhd (Khazanah) and Permodalan Nasional Bhd (PNB), will be charged at the Kuala Lumpur Sessions Court on Thursday.</p>


<p>Indonesia is expecting to get a US$1 billion (RM4.47 billion)&nbsp;investment commitment from tech firm&nbsp;Apple&nbsp;Inc&nbsp;in a week, its investment minister said on Tuesday, after the government banned iPhone 16 sales for failing to meet local content rules.</p>


Indonesia expects US$1b investment commitment from Apple in a week, in response to iPhone 16 sales ban

<p>Datuk Seri Najib Razak took aim at Malaysian Anti-Corruption Commission (MACC) investigating officer (IO) Nur Aida Arifin’s testimony, saying that her assertions were “deranged”, “deluded” and coming from someone “unversed” with diplomacy.</p>


Najib: MACC IO deranged, deluded and unversed with diplomacy to suggest I had G2G meeting on yacht 

<p>Lawyer and former de-facto law minister Datuk Zaid Ibrahim said the then Malaysian Bar president Karen Cheah Yee Lynn should have asked him and his partners, Liew Teck Huat and Rueben Mathiavaranam, for their views before issuing a statement on Aug 19, 2022, complaining of their conduct in former prime minister Datuk Seri Najib Razak’s final appeal in the SRC International Sdn Bhd criminal case.</p>


Zaid Ibrahim says past Bar president ‘jumped the gun’ to issue statement against him and law partners

<p>(Dec 3):&nbsp;Oil major Exxon Mobil Corp&nbsp;is considering a sale of its gas stations in Singapore, which could raise about US$1 billion (RM4.46 billion), according to people familiar with the matter.</p>


Exxon said to weigh sale of US$1b Singapore gas stations — Bloomberg

<p>Datuk Seri Najib Razak said that he was not sure how fugitive businessman Low Taek Jho (Jho Low) obtained his personal mobile phone number, but because he was the prime minister back then, many Malaysians would have the phone number.</p>


1MDB-Tanore: Najib unsure how Jho Low obtained his mobile number

<p>Vehicle owners must be more attentive to announcements regarding recall for inspection by the Road Transport Department (JPJ), said Transport Minister Anthony Loke.</p>


Vehicle owners told to take JPJ’s recall announcements seriously 

<p>VS Industry Bhd’s latest quarterly net profit dropped 37.53%, mainly due to lower sales orders from existing customers, unfavourable foreign exchange (forex) rates and higher labour costs as a result of an increase in headcount.</p>


VS Industry’s 1Q net profit drops 38% on lower sales orders; declares 0.4 sen dividend 

<p>NAGA 5, one of six jack-up drilling rigs belonging to Velesto Energy Bhd (KL:VELESTO), is in its 55-day major maintenance programme at a Seatrium Ltd-owned shipyard in Tuas, Singapore.</p>

<p>Another two jack-up rigs, Naga 3 and Naga 8, are scheduled for drying dock in the first half of next y...