<div class=newsTextDataWrapInner><p>KUALA LUMPUR (June 7): Engtex Group Bhd (KL:ENGTEX) has proposed to undertake a bonus issue of up to 414.30 million new shares, on the basis of three bonus share for every four existing shares.</p></div>

<div class=newsTextDataWrapInner><p>As at May 31 this year, the group’s&nbsp;total number of shares stood at&nbsp;443.32 million, including 1.9 million treasury&nbsp;shares.</p></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia&nbsp;on Friday, the company&nbsp;said the exercise is to reward its existing shareholders for their continuous support and encourage&nbsp;trading liquidity and affordability on the Main Market.&nbsp;</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>“Besides, the bonus issue will also encourage greater participation by investors and potentially widen the share spread to a wider pool of investors,” it said.</p></div>

<div class=newsTextDataWrapInner><p>The company said the bonus issue will be done via&nbsp;a single issuance and not on a staggered basis.</p></div>

<div class=newsTextDataWrapInner><p>It added that the bonus shares will be issued as fully paid, at no consideration and without&nbsp;capitalisation of the company’s reserves.</p></div>

<div class=newsTextDataWrapInner><p>Engtex noted that the bonus issue is not expected to have any effect on the consolidated&nbsp;earnings of the group for the financial year ended Dec 31, 2024 (FY2024).&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The exercise is expected to be completed by third quarter of 2024.</p></div>


KUALA LUMPUR (June 7): Engtex Group Bhd (KL:ENGTEX) has proposed to undertake a bonus issue of up to 414.30 million new shares, on the basis of three bonus share for every four existing shares.

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<p>There is no policy paper yet allowing the implementation of subsidy cuts for RON95, said Prime Minister Datuk Seri Anwar Ibrahim.</p>

<p>While there have been studies on shifting away from blanket subsidies towards a targeted approach for RON95, Anwar said the government intends to evaluate the outcomes of rationalising subsidies on electricity, chicken and diesel for now.</p>


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<p>A surge of Chinese plastic supply is threatening to overflow in the face of weak domestic demand, morphing into a fresh trade challenge for the rest of the world.</p>


<p>Huawei Technologies&nbsp;has teamed up with Chinese foundry Wuhan Xinxin Semiconductor Manufacturing Co to develop&nbsp;high-bandwidth memory (HBM) chips, according to sources, as these devices have become an indispensable component in the computing infrastructure used for&nbsp;artificial intelligence (AI) projects, <em>South China Morning Post (SCMP)&nbsp;</em>reported.</p>
