<div class=newsTextDataWrapInner><p>KUALA LUMPUR (May 30): Australia &amp; New Zealand Banking Group Ltd (ANZ) is inviting bids to sell its remaining 5.17% stake in AMMB Holdings Bhd (KL:<a href="/askedge/klse/1015" class="ce-stock" target="_blank">AMBANK</a>) for up to RM701.16 million.</p></div>

<div class=newsTextDataWrapInner><p>The sale would mark the exit of the Australia-based banking group from Malaysia’s sixth-largest lender by assets.</p></div>

<div class=newsTextDataWrapInner><p>According to a term sheet sighted by<em> The Edge </em>on Thursday, ANZ's wholly owned subsidiary ANZ Fund Pty Ltd is putting up its remaining 171.02 million shares in AMMB for sale at an offer price of RM4.05 to RM4.10.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The offer price range represents a 2.84% to 4.03% discount to AMMB's closing price on Thursday of RM4.22.</p></div>

<div class=newsTextDataWrapInner><p>The offer is set to close on Thursday night with the trade date fixed for Friday.</p></div>

<div class=newsTextDataWrapInner><p>CIMB Investment Bank and BofA Securities are the joint bookrunners for the block of shares being put up via ANZ Fund.</p></div>

<div class=newsTextDataWrapInner><p>In March, ANZ, which has long made known its intention to let go of its block of AMMB shares, offloaded a 16.5% stake in AMMB for RM2.1 billion, slashing its stake to 5.17%. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>AMMB’s largest shareholder currently is the Employees Provident Fund, holding 14.3%, followed by founder Tan Sri Azman Hashim’s 11.8% stake.</p></div>

<div class=newsTextDataWrapInner><p><em>Read also:<br />
<a href="https://theedgemalaysia.com/node/703614" target="_blank">ANZ to sell 16.5% in AMMB in upsized RM2.1b deal</a></em></p></div>


Australia & New Zealand Banking Group Ltd (ANZ) is inviting bids to sell its remaining 5.17% stake in AMMB Holdings Bhd (KL:AMBANK) for up to RM701.16 million.

ANZ to sell remaining 5.17% stake in AMMB for up to RM701 mil

Reddit was down for thousands of users on Thursday, according to outage tracking website Downdetector.com, a day after the social media company said it had fixed a software bug.

Downdetector, which tracks outages by collating status reports from several sources including users, showed more than 14,000 reports of outages.

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The Inland Revenue Board (LHDN) will continue to enforce compliance through audits and investigations to detect any non-compliance among taxpayers in Malaysia.

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The International Criminal Court (ICC) issued an arrest warrant for Israeli Prime Minister Benjamin Netanyahu for alleged war crimes in Gaza, adding to pressure on the country’s leadership over the conduct of its military campaign against Hamas.

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Here is a brief recap of some corporate announcements that made the news on Thursday.

Petron, DRB-Hicom, Dayang Enterprise, AEON, 7-Eleven, MSM, Hap Seng Consolidated, SunCon, UEM Sunrise, Mega First, Oriental, Heitech Padu, Can-One, Atlan, Maxim, Thong Guan, Globetronics

Thailand is taking steps to attract more foreign investment to accelerate economic growth while preparing to adjust its policies to cope with potential changes to world trade under a Trump presidency, Prime Minister Paetongtarn Shinawatra said.

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Volkswagen AG faces a growing threat of widespread walkouts as executives and unionists dig in over how to restructure Europe’s biggest automaker.

Labour leaders are offering €1.5 billion (RM7.08 billion) in additional cost cuts — including foregoing some bonuses — to keep factories open, after management dangled the idea of closures.

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Baidu Inc recorded its biggest revenue drop in more than two years after China’s economic malaise undermined its push into generative AI.

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Magnum Bhd (KL:MAGNUM) reported a slight dip in net profit in the July-Sept period as income tax and other expenses increased, but cushioned by better income generated by its gaming and investment holdings and other segments.

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Emmanuel Macron’s ill-fated June gamble on snap elections has plunged French businesses into prolonged gloom, clouding the president’s seven-year effort to transform the country into a hub for investment.

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<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>Atlan Holdings Bhd's (KL:ATLAN) Singapore-listed subsidiary Duty Free International Ltd (DFIL), which plans to challenge the compulsory acquisition of two plots of land in Kedah by the Malaysian government, announced on Thursday that it had received RM69.6 million as compensation for the land.</p>

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Home Affairs Ministry pays Atlan RM69.6 mil for compulsory purchase of its Kedah plot

<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>Sugar producer MSM Malaysia Holdings Bhd (KL:MSM) continued to record losses for the second consecutive quarter, after the group reported a RM49.75 million net loss for the third quarter ended Sept 30, 2024 (3QFY2024).</p>


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<p>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&amp;B) business to its largest shareholder Foremost Equals Sdn Bhd for RM60 million.</p>


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<p>Oil company Petron Malaysia Refining &amp; Marketing Bhd (KL:PETRONM) suffered a 94.3% drop in its third-quarter net profit, on lower sales volume due to a correction in domestic fuel demand following the implementation of the retail diesel targeted subsidy in June this year.</p>


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<p>AEON Co (M) Bhd (KL:AEON), a general merchandise store and supermarket chain operator, saw its net profit rise 35.4% to RM18.79 million in the third quarter ended Sept 30, 2024 (3QFY2024) from RM13.88 million a year earlier on higher revenue.</p>


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<p>Heitech Padu Bhd (KL:HTPADU) recorded a net profit of RM6.58 million for the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net loss of RM1.4 million in the corresponding quarter, thanks to a one-off gain on disposal of land and building.</p>


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<p>Automotive seat maker Feytech Holdings Bhd (KL:FEYTECH) has failed to buy a piece of land in the Klang Valley, resulting in a delay in the construction of its new corporate office with a manufacturing plant and warehouse.</p>


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<p>Oil and gas services provider Dayang Enterprise Holdings Bhd (KL:DAYANG) said it will continue to deliver outstanding performance after posting a record high net profit for its third quarter, which surged 76.67% year-on-year.</p>


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<p>A summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.</p>


FBM KLCI down 0.59% to 1,588.68 on Nov 21, 2024

<p>Baidu Inc recorded its biggest revenue drop in more than two years after China’s economic malaise undermined its push into generative AI.</p>


<p>Sunway Construction Group Bhd (KL:SUNCON) posted a 32.71% jump in its net profit for its third quarter on the accelerated progress of its data centre projects.</p>

<p>Net profit for the third quarter ended Sept 30, 2024 (3QFY2024) rose to RM46.47 million from RM35.01 million in 3QFY2023, as revenue rose 28.48% to RM865.33 million from RM673.51 million, its Thursday bourse filing showed.</p>


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<p>DRB-Hicom Bhd (KL:DRBHCOM) saw a net loss of RM5.29 million in the third quarter ended Sept 30, 2024 (3QFY2024), compared with a net profit of RM70.8 million in the same quarter last year.</p>


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<p>Here is a brief recap of some corporate announcements that made the news on Thursday.</p>


<p>Hap Seng Consolidated Bhd (KL:HAPSENG) posted a three-fold jump in net profit for its third quarter from a year ago, on improved contributions from the diversified group’s plantation, property and credit financing divisions.</p>


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<p>Deputy Works Minister Datuk Seri Ahmad Maslan said on Thursday that the implementation of the multi-lane free flow (MLFF) toll system is still under "heavy consideration" by the government.</p>


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<p>Datasonic Group Bhd (KL:DSONIC) on Thursday proposed to amend its company constitution to ease the passage of a directors’ written resolution.</p>


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<p>Kucingko Bhd (KL:KUCINGKO), a 2D animation production company, has decided to discontinue the services of its external auditor Messrs Russell Bedford LC PLT over a disagreement on audit fees.</p>


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<p>Indian billionaire Gautam Adani,&nbsp;indicted in New York&nbsp;over a US$265 million (RM1.18 billion) bribery scheme, is a first-generation tycoon whose phenomenal rise has been accompanied by a series of damaging controversies at home and abroad.</p>
