<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Oct 9): Home furniture specialist Ecomate Holdings Bhd (KL:<a href="/askedge/klse/0239" class="ce-stock" target="_blank">ECOMATE</a>) has proposed to acquire a single-storey factory in Muar, Johor, along with machinery and components, from SWS Capital Bhd (KL:<a href="/askedge/klse/7186" class="ce-stock" target="_blank">SWSCAP</a>).</p></div>

<div class=newsTextDataWrapInner><p>It is part of the company’s plans to establish a new factory and warehouse, while securing a permanent premises to support its business expansion, Ecomate said in a bourse filing on Wednesday. &nbsp;</p></div>

<div class=newsTextDataWrapInner><p>The company said it will be buying the factory, situated on 8,217 square metres of leasehold industrial land, for RM7 million, and pay another RM1.85 million for the machinery and components</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Ecomate noted that the new manufacturing facility is located near its existing plants, allowing for improved administrative control, reduced production costs, and enhanced product quality.</p></div>

<div class=newsTextDataWrapInner><p>The company plans to rent out additional space within the property, potentially generating rental income.</p></div>

<div class=newsTextDataWrapInner><p>Ecomate shares closed unchanged at 89.5 sen on Wednesday, giving a market capitalisation of RM318.65 million. Year-to-date, the stock has surged 22.6%.</p></div>

<div class=newsTextDataWrapInner><p>SWS Capital rose half a sen or 2.44% to 21 sen, valuing the furniture and plastic ware manufacturer at RM63.48 million</p></div>


Home furniture specialist Ecomate Holdings Bhd (KL:ECOMATE) has proposed to acquire a single-storey factory in Muar, Johor, along with machinery and components, from SWS Capital Bhd (KL:SWSCAP).

Ecomate to acquire factory, machinery in Muar to expand operations

Fun under the sun

Here is a brief recap of some business news and corporate announcement that made the headlines on Friday.

Alliance Bank, Press Metal, WMG, Pertama Digital, Pharmaniaga, Fajarbaru, Steel Hawk, Petronas Gas, Barakah Offshore, Gadang, Kerjaya Prospek, Yong Tai 

Kerjaya Prospek Group Bhd (KL:KERJAYA) has filed a new lawsuit against Yong Tai Bhd (KL:YONGTAI) and its chief executive officer Datuk Boo Kuang Loon over an alleged unpaid contract sum of RM105.14 million related to a construction project in Melaka.

Kerjaya Prospek files fresh lawsuit against Yong Tai and CEO over RM105m contract dispute

Glostrext Bhd (KL:GLXT) has proposed diversifying its business to include the trading of electrical appliances, generators, alternators and related products through the acquisition of a 70% stake, or 3.5 million shares, in Powertecs System Sdn Bhd.

Glostrext to buy 70% stake in electrical appliance maker for RM4.2m 

Foreign investors have been buying more US corporate bonds, a trend that will likely continue as Federal Reserve monetary easing lowers the cost of hedging and investors hunt for yield.

US credit draws in foreign investors looking for lower costs to hedge

US producer prices were unchanged in September as a modest rise in the cost of services was offset by cheaper goods, pointing to a still-favourable inflation outlook and supporting views that the Federal Reserve would cut interest rates again next month.

US producer prices flat in September; details mixed

China's government said on Friday that employees of Taiwan's Foxconn, the world's largest iPhone assembler, are being investigated for suspected taking of bribes and embezzlement, after Taiwan reported their detention.

China says Foxconn employees probed for bribery, embezzlement

Construction company Fajarbaru Builder Group Bhd (KL:FAJAR) has proposed to dispose of its 44.44% stake in an Australian property development company in a related party transaction.

Fajarbaru to sell 44.44% stake in Australian property company

Press Metal Aluminium Holdings Bhd (KL:PMETAL) executive director Datuk Koon Poh Kong has offloaded 6.3 million shares, representing 0.08% in the aluminium company, for a total of RM32.04 million.

Press Metal founder sells 6.3 mil shares for RM32.04m 

US consumer sentiment unexpectedly fell for the first time in three months as lingering frustration with a high cost of living offset more sanguine views of the job market.

US consumer sentiment falls unexpectedly on high cost of living

<p>Public Bank Bhd (KL:PBBANK) shares fell to their lowest level in two months on Friday, as investors expressed concerns over potential share overhang from plans of the family of its late founder Tan Sri Teh Hong Piow to trim their stake.</p>


Public Bank drifts to two-month low amid share overhang concern

Most read this week - Stay up to date with the biggest news and latest trending topics by checking out the top 10 articles of the week. 

Most read this week

<p>Shell plc employees excoriated the company’s leadership in response to an internal annual workforce survey as chief executive officer Wael Sawan cuts jobs across the business to help drive returns for shareholders, according to internal documents seen by <em>Bloomberg</em>.</p>


Shell employees voice their ire in company survey as CEO cuts jobs to drive profits

<p>Kerjaya Prospek Group Bhd (KL:KERJAYA) has filed a new lawsuit against Yong Tai Bhd (KL:YONGTAI) and its chief executive officer Datuk Boo Kuang Loon over an alleged unpaid contract sum of RM105.14 million related to a construction project in Melaka.</p>


<p>PETALING JAYA (Oct 11): Gamuda Bhd (KL:GAMUDA) has launched the Gamuda AI Academy aimed at cultivating the local talent pool for artificial intelligence (AI) to support Malaysia’s digital transformation.</p>


Gamuda AI Academy opens courses for AI coding

<p>Oil and gas company Barakah Offshore Petroleum Bhd (KL:BARAKAH) announced the resignation of its independent non-executive chairman Datuk Mohd Zaid Ibrahim after five years at the helm.</p>


Barakah Offshore chairman Zaid Ibrahim resigns, founder Nik Hamdan steps in

<p>Pertama Digital Bhd (KL:PERTAMA), whose share price dived to more than four years low on Wednesday, saw its non-independent and non-executive chairman Datuk Ahmad Nazri Abdullah reemerged as a substantial shareholder after raising his stake to 34.3 million shares or 7.83% in the company.</p>


Pertama Digital chairman Ahmad Nazri reemerges as substantial shareholder

<p>Less than two weeks after being appointed director of Alliance Bank Malaysia Bhd (KL:ABMB), Tan Sri Amirsham A Aziz has been named the bank’s new chairman.</p>


Alliance Bank appoints Amirsham Aziz as new chairman 

<p>Gadang Holdings Bhd (KL:GADANG) is disposing of a leasehold land in Damansara Perdana for RM65 million to partially finance its existing construction projects and repay borrowings.</p>


Gadang to sell leasehold land in Damansara Perdana for RM65m

<p>Indonesia has asked Alphabet's Google and Apple to block Chinese fast fashion e-commerce firm Temu in their application stores in the country so it cannot be downloaded, a minister said on Friday.</p>


Indonesia asks Apple, Google to block China's Temu to protect small merchants

<p>Former prime minister Datuk Seri Najib Razak has denied in open court that he had ever met murdered Mongolian Altantuya Shaariibuu or that he was involved in her murder, refuting claims made by former attorney general Tommy Thomas in his memoir <em>My Story: Justice in the Wilderness.</em></p>


Najib denies ordering Altantuya’s murder, sues Tommy Thomas and memoir's publisher for defamation

<p>The rise in palm oil output, coupled with a modest increase year-on-year (y-o-y) in the average crude palm oil (CPO) price achieved in 3Q2024, are likely to boost the earnings of plantation companies, CIMB Securities noted in its report on Friday. &nbsp;</p>


Planters to get earnings boost from higher palm oil output, average CPO price in 3Q

<p>The government expects more digital investments to flow into Malaysia in 2025, said Digital Minister Gobind Singh Deo.&nbsp;</p>

<p>The minister said that as Malaysia chairs Asean in 2025, the country is well positioned to present itself as a destination for digital investments in the region.&nbsp;</p>


Govt expects more digital investments in 2025, says Gobind

<p>BlackRock's assets under management hit a record high for the third straight quarter on Friday, helped by surging inflows to the company's exchange-traded funds and a searing equity rally that boosted the value of its clients' investments.</p>


BlackRock's assets hit record US$11.5 tril on market rally, ETF boost

<p>US Secretary of State Antony Blinken said on Friday there was deep concern in Asia about the prospect of conflict spreading in the Middle East, as the UN chief called for everything possible to be done to avoid "all-out war" in Lebanon.</p>


Blinken says Asia concerned about spread of Middle East conflict

<p>Lawyer Datuk Dr Gurdial Singh Nijar argued at the Federal Court on Friday that the Securities Commission Malaysia (SC) needs to seek authorisation from the attorney general before it can initiate civil action against a person.</p>


SC needs to seek authorisation from AG before initiating civil actions, Federal Court told

<p>Exsim Borneo Sdn Bhd and a person acting in concert have proposed to acquire a 70% stake in Sabah-based property developer WMG Holdings Bhd (KL:WMG) at 16.5 sen per share, and make a general offer for the remaining shares at the same price.</p>


Exsim to acquire 70% stake in WMG, undertake general offer for remaining shares

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EVENING 5: Five things you need to know today

<p>Following his emergence as a substantial shareholder in property developer Magna Prima Bhd (KL:MAGNA) last week, Seah Ley Hong has been appointed as the company’s executive director.</p>


Magna Prima's new substantial shareholder appointed executive director

<p>EUPE Corp Bhd (KL:EUPE)&nbsp;topped out its Helix2 affordable high-rise development located in PJS 5, Petaling Jaya, Selangor, on Friday. The project is 95% sold and is slated for completion in October 2025.</p>
