<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Jan 8): Edaran Bhd, an IT and telecommunications company, has proposed a share capital reduction to wipe out its accumulated losses.</p></div>

<div class=newsTextDataWrapInner><p>The exercise will involve reducing up to RM52 million of its RM68.02 million share capital, according to the company's bourse filing on Wednesday.</p></div>

<div class=newsTextDataWrapInner><p>This move is expected to eliminate the group's RM47.05 million accumulated losses as at end-September 2024, leaving it with pro forma retained earnings of RM4.76 million.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The proposed share capital reduction, if approved by shareholders at an upcoming extraordinary general meeting, is expected to be completed by the second quarter of 2025. DWA Advisory Sdn Bhd has been appointed as the adviser for the proposed exercise.</p></div>

<div class=newsTextDataWrapInner><p>Edaran has been operating at a profit in the past four consecutive financial years. Its net profit grew to RM3.11 million in the financial year ended June 30, 2024 (FY2024), from RM2.03 million in FY2023.</p></div>

<div class=newsTextDataWrapInner><p>But prior to that, the group was in the red off and on, including in FY2003, when it incurred a significant loss of RM38.45 million due to a write-off of provision for doubtful and bad debts.</p></div>

<div class=newsTextDataWrapInner><p>Shares in Edaran ended three sen or 1.69% lower at RM1.74, giving the company a market capitalisation of RM104.4 million.<br />
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Edaran Bhd, an IT and telecommunications company, has proposed a share capital reduction to wipe out its accumulated losses.

The exercise will involve reducing up to RM52 million of its RM68.02 million share capital, according to the company's bourse filing on Wednesday.

Edaran plans RM52 mil share capital reduction to eliminate losses

Asian equities were poised for a muted open on Friday as Treasuries stemmed a selloff ahead of US jobs data that will help shape the outlook for Federal Reserve rates.

Futures for Australian shares rose, while those for Japan and Hong Kong were little changed. S&P 500 contracts edged lower Thursday as US trading was closed to observe a national day of mourning for former President Jimmy Carter.

Asian stocks set for muted open ahead of US jobs

The world’s biggest bond market halted a selloff that roiled trading around the globe, with investors gearing up for jobs data that will help shape the outlook for Federal Reserve rates.

Treasuries stabilized after a rout that drove 30-year yields to the highest since 2023.

Bond traders see jobs testing hawkish Fed pricing

Several Federal Reserve officials confirmed Thursday the US central bank will likely hold interest rates at current levels for an extended period, only cutting again when inflation meaningfully cools. 

Boston Fed President Susan Collins said Thursday a slower approach to adjusting interest rates is merited now as officials confront “considerable uncertainty” over the US economic outlook.

Fed officials signal interest rates likely on hold for a while

Money manager Mario Gabelli is asking a judge to make the film and TV company Paramount Global hand over files about its merger with Skydance Media so investors can tell what controlling stockholder Shari Redstone is getting in the deal and whether it’s fair.

Gabelli pushes Paramount for files in fight over Skydance deal

Carzo Holdings Bhd, a fruit supplier listed on the LEAP Market, said its wholly-owned subsidiary Carzo Import (M) Sdn Bhd and its director have been sued by a China-based supplier over an outstanding payment of US$117,470.50 for fruits supplied to Carzo Import.

Fruit supplier Carzo sued by China-based supplier over unsettled debt

Global air cargo markets saw robust growth in demand in November 2024, with cargo tonne-kilometres surging by 8.2% compared to a year earlier, according to the International Air Transport Association (IATA).

This marked the 16th consecutive month of growth, it said in a statement on Thursday.

Global air cargo and passenger demand up by over 8% in November — IATA

New York's top court rejected on Thursday US President-elect Donald Trump's request to halt his sentencing for his conviction on criminal charges stemming from hush money paid to a porn star, court papers showed.

New York's top court denies Trump's bid to halt sentencing

India’s Tata Consultancy Services Ltd (TCS) reported earnings that missed analysts’ estimates, signalling overseas clients are still cautious in betting big on information technology (IT) projects.

Tata Consultancy Services misses estimates in sign IT spending yet to pick up

Senior political secretary to the Prime Minister Datuk Seri Shamsul Iskandar Mohd Akin has urged all parties to stop politicising the issue of an additional document regarding Datuk Seri Najib Razak’s purported house arrest.

Shamsul Iskandar urges all parties not to politicise issue of additional document

UBS is set to pay a minimum of hundreds of millions of dollars to settle Credit Suisse's violations of an earlier agreement with the US Department of Justice over customers in the US who evaded tax, the Wall Street Journal reported on Thursday.

UBS nears settlement over Credit Suisse tax evasion case — report

<p>Public Bank Bhd's (KL:PBBANK) conditional mandatory takeover offer for the remaining shares of insurer LPI Capital Bhd (KL:LPI) that it does not own has lapsed, as it did not secure sufficient acceptances by the close of the offer on Thursday.</p>


Public Bank's MGO for LPI Capital closes without fulfilling 50% acceptance level

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


Public Bank, LPI Capital, Dialog, Yinson, T7 Global, Hibiscus Petroleum, NPC Resources, MPHB Capital, Pos Malaysia, SMI

<p>MPHB Capital Bhd (KL:MPHBCAP), which is involved in the credit services and property businesses, said that its shares will be suspended, effective from Jan 22, to facilitate the company’s selective capital reduction before it is taken private.</p>


MPHB Capital shares to be suspended from Jan 22 until delisting

<p>Technology company Green Packet Bhd (KL:GPACKET) said its wholly owned Packet Interactive Sdn Bhd (PISB) has obtained a digital lending licence from the Ministry of Housing and Local Government.</p>


Green Packet secures digital lending licence from Housing and Local Govt Ministry

<p>Dialog Group Bhd (KL:DIALOG) announced on Thursday that it has secured the final investment decision (FID) for the field development and abandonment plan under the Baram Junior Cluster Small Field Asset Production Sharing Contract (PSC), amounting to US$235 million (RM1.02 billion).</p>


Dialog secures US$235m final investment decision for Baram Junior Cluster Small Field Asset PSC

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<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>As tensions between the US and China escalate, experts are urging Malaysia and other Asean nations to explore new trade partnerships.</p>

<p>Elina Noor, senior fellow of Carnegie Endowment for International Peace's Asia Programme, said there is a need for Asean to diversify its collaborations, citing the growing concerns of the Global South.</p>


Malaysia urged to diversify trade partners as US-China tension escalates

<p>Carzo Holdings Bhd, a fruit supplier listed on the LEAP Market, said its wholly-owned subsidiary Carzo Import (M) Sdn Bhd and its director have been sued by a China-based supplier over an outstanding payment of US$117,470.50 for fruits supplied to Carzo Import.</p>


<p>Kenanga Research has downgraded its sector call on real estate investment trusts (REITs) to “neutral” from “overweight”.</p>


Kenanga Research downgrades sector call on REITs to ‘neutral’

<p>Opportunities arising from the nation's shift towards higher value industries make this the ideal time for Malaysian technology talent abroad to return, said Science, Technology and Innovation Minister Chang Lih Kang.</p>


Now’s the best time for Malaysian tech talent abroad to return, says minister

<p>The government will not disclose details of the minutes of the Pardon Board meeting of the Federal Territories of Kuala Lumpur, Labuan and Putrajaya that discussed the pardon of former Prime Minister Datuk Seri Najib Tun Razak to the public.</p>

<p>Minister in the Prime Minister's Department (Federal Territories) Dr Zaliha Mustafa, who is also a member of the Pardons Board, said the minutes of the meeting were confidential.</p>


Govt cannot reveal minutes of Pardons Board meeting — Zaliha

<p>Target 1 Sdn Bhd, South Malaysia Industries Bhd’s (KL:SMI) largest shareholder with a 30.67% stake, announced on Thursday that the company’s extraordinary general meeting (EGM) proceeded as scheduled on Thursday, with the resolutions to appoint six new directors, including former Perak police chief Datuk Pahlawan Mior Faridalathrash Wahid, being passed.</p>


SMI’s EGM proceeds with resolutions to appoint six new directors passed — Target 1

<p>SWA Shipping Sdn Bhd is facing a deadline of February 25 as Pos Logistics Bhd is considering terminating the RM123.21 million deal for the acquisition of PNSL Bhd.</p>

<p>The deadline marks the point at which SWA Shipping has failed to meet its obligations under the sales and purchase agreement (SPA), said Pos Malaysia Bhd in a filing with Bursa Malaysia on Thursday.</p>


SWA Shipping faces Feb 25 deadline as Pos Logistics may terminate RM123.21 mil PNSL acquisition deal

<p>The Ministry&nbsp;of Natural Resources and Environmental Sustainability is in the midst of improving the Strata Titles Act 1985 (Act 318) to address issues related to strata housing, particularly for low- and medium-low-cost units.</p>


Govt strengthening Strata Titles Act, says Nik Nazmi

<p>Parkson Holdings Bhd (KL:PARKSON) announced that its unit, Liupanshui Parkson Retail Co Ltd, has signed a 10-year tenancy agreement for its department store operations in the city of Liupanshui, Guizhou province, China.</p>


Parkson unit inks 10-year lease deal in Guizhou, China

<p>Senior political secretary to the Prime Minister Datuk Seri Shamsul Iskandar Mohd Akin has urged all parties to stop politicising the issue of an additional document regarding Datuk Seri Najib Razak’s purported house arrest.</p>


<p>Dubai property billionaire Hussain Sajwani — who this week stood alongside US President-elect Donald Trump to pledge a US$20 billion (RM90&nbsp;billion) investment in US data centres — is likely to lean heavily on banks and other financial institutions for much of that investment.&nbsp;</p>


Dubai property billionaire Sajwani to lean on banks for US$20b investment in US data centres

<p>PUTRAJAYA (Jan 9): Two company directors and an officer from a ministry agency have been remanded by the Malaysian Anti-Corruption Commission (MACC) on suspicion of being involved in corruption to obtain approval letters for commercial vehicle licences without meeting the required conditions.</p>...

Company director duo, govt officer remanded in vehicle licence bribery probe

<p>Los Angeles plunged into its worst natural disaster in decades as wildfires driven by hurricane-strength wind gusts tore through prosperous neighbourhoods, killed at least five people and forced more than 100,000 residents to flee.</p>
