<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Aug 23): Flexible packaging materials manufacturer Tomypak Holdings Bhd (KL:<a href="/askedge/klse/7285" class="ce-stock" target="_blank">TOMYPAK</a>) said it is disposing of a property in Senai, Johor for RM31 million, cash, as it seeks to realise the value of its investment in non-core assets.</p></div>

<div class=newsTextDataWrapInner><p>The 4.14-hectare land, together with factory buildings, represent part of the group's idle and non-core assets, and so proceeds from the disposal will provide a surplus cash flow for the group, said Tomypak in a filing with Bursa Malaysia on Friday.</p></div>

<div class=newsTextDataWrapInner><p>The group said its wholly-owned subsidiary Tomypak Flexible Packaging Sdn Bhd has entered into a sale and purchase agreement with Goldcoin Victory Sdn Bhd for the proposed disposal. Goldcoin's principal activity is the buying, selling, renting and operating of self-owned or leased real estate of non-residential buildings.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Tomypak expects the disposal to be completed by the fourth quarter of this year.&nbsp;</p></div>

<div class=newsTextDataWrapInner><p>Shares of Tomypak closed unchanged at 33 sen on Friday, giving the group a market capitalisation of RM140.05 million.&nbsp;</p></div>


Flexible packaging materials manufacturer Tomypak Holdings Bhd (KL:TOMYPAK) said it is disposing of a property in Senai, Johor for RM31 million, cash, as it seeks to realise the value of its investment in non-core assets.

Tomypak to sell non-core land, factory assets in Senai for RM31m

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


WCT, Capital A, Press Metal, Eco World International, Scientex Packaging, Barakah Offshore, Kimlun, Pekat, YBS 

<p>The dollar dropped after the Federal Reserve on Wednesday cut interest rates by half a percentage point, citing greater confidence that inflation will continue to recede to the US central bank's 2% annual target.</p>


Dollar drops as US Fed cuts rates by half a percentage point

<p>The Federal Reserve cut interest rates by half of a percentage point on Wednesday, kicking off what is expected to be a steady easing of monetary policy with a larger-than-usual reduction in borrowing costs that followed growing unease about the health of the job market.</p>


US Fed cuts rates by half a percentage point, cites 'greater confidence' on inflation

<p>US equities will climb through the rest of the year with the Federal Reserve’s (Fed) aggressive interest-rate cut bolstering the chances of a soft landing for the economy, according to a survey of <em>Bloomberg Terminal</em> subscribers.</p>


US stocks will continue to rally after sharp Fed rate cut, investors say

<p>Asian equities were primed for muted moves following declines on Wall Street after the Federal Reserve’s (Fed) half-point interest rate cut on Wednesday.</p>


Asian stocks likely muted as traders digest Fed cut

<p>Chin Hin Group Bhd (KL:CHINHIN) managing director Chiau Haw Choon is no longer a substantial shareholder in NCT Alliance Bhd (KL:NCT) after disposing of a 0.62% stake for RM5.8 million.</p>


Chin Hin MD ceases to be substantial shareholder in NCT Alliance after selling 0.62% stake for RM5.8m

<p>Precision machining group YBS International Bhd (KL:YBS)&nbsp; is acquiring the entire stake of Allied Technologies Holdings Pte Ltd’s precision manufacturing services units for a total indicative price of US$38 million (RM167.2 million) via cash and share issuance.</p>


YBS inks MOU to acquire stake in precision manufacturing companies for RM167m 

<p>Boeing said on Wednesday it will temporarily furlough tens of thousands of employees after about 30,000 machinists went on strike on Friday, halting production of its 737 MAX and other airplanes.</p>


Boeing furloughs thousands as it hunkers down for extended strike

<p>US stocks closed with modest losses on Wednesday, well off their intraday highs, after the Federal Reserve (Fed) cut interest rates by 50 basis points, the high side of estimates for its first cut in more than four years.</p>


US equities close slightly lower, trade choppy after Fed rate cut

<p>Alphabet Inc's YouTube and e-commerce platform Shopee said on Wednesday they were launching an online shopping service in Indonesia and planned to expand it in Southeast Asia as competition picks up with a rival operator owned by TikTok.</p>


YouTube and Shopee partner in Southeast Asia e-commerce tie-up 

<p>The US sued the owner and the operator of a Singapore-flagged ship that rammed into a Baltimore bridge in March, the most aggressive action to date in response to a disaster that killed six workers and threw the region’s transportation network into chaos.</p>


US sues ship owner and operator over Baltimore Bridge collapse

<p>Haily Group Bhd (KL:HAILY) said on Wednesday that it has secured a RM75.9 million contract from Mah Sing Group Bhd’s (KL:MAHSING) subsidiary for construction works on a residential development in Johor Bahru.</p>


Haily Group bags RM76 mil housing construction contract from Mah Sing  

<p>Federal Reserve governor Michelle Bowman on Wednesday became the first Fed governor to vote against an interest-rate decision by the US central bank since 2005, denying Fed Chair Jerome Powell a clear consensus at a pivotal moment.&nbsp;</p>


Fed Bowman's dissent is first from US Fed governor since 2005

<p>Shares of Solar District Cooling Group Bhd (KL:SDCG) surged 32% in ACE Market trading debut on Thursday as investors scrambled for a piece of the building management systems company.</p>


Solar District Cooling surges 32% in ACE Market trading debut

<p>Three suspects in a sodomy case arrested during the recent Op Global will be charged at the Seremban Sessions Court on Thursday.</p>

<p>Inspector-General of Police Tan Sri Razarudin Husain said the suspects would be charged under Sections 14(a) and 14(b) of the Sexual Offences Against Children Act 2017 (Act 792).</p>


Op Global: Three supsects in sodomy case to be charged on Thursday — IGP

<p>The number of flood victims in temporary evacuation centres (PPS) in Kedah and Penang has slightly dropped on Wednesday afternoon, while Perlis has recorded an increase.</p>


Flood victims in Kedah, Penang drop, while numbers rise in Perlis

<p>The second trial of Vietnamese real estate tycoon Truong My Lan on fresh fraud charges is scheduled to begin on Thursday, underscoring the new Communist Party chief’s determination to press ahead with a crackdown on corruption.</p>


Vietnamese tycoon faces second fraud trial after death sentence

<p>Taiwan denounced China on Thursday for suspending tariff exemptions on agricultural imports from the island, saying it was "economic coercion" and not conducive to improving relations.</p>


Taiwan denounces China for ending tariff exemptions on farm goods

<p>The Malaysian Bar is repeating the Human Rights Commission of Malaysia's call for the government to establish a Royal Commission of Inquiry (RCI) to investigate allegations of exploitation and sexual abuse involving 402 children at welfare homes.</p>


Malaysian Bar echoes Suhakam's call for RCI to investigate child abuse allegations at welfare homes

<p>The Halal Development Corporation (HDC), in collaboration with the Ministry of Investment, Trade and Industry (Miti) and the Malaysian Investment Development Authority (Mida), is studying and formulating new incentives to boost foreign investment in the halal industry.</p>
