<div class=newsTextDataWrapInner>KUALA LUMPUR (Jan 23): Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Thursday:</div>

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KUALA LUMPUR (Jan 23): Below is a summary of how key Bursa Malaysia indices and the ringgit performed on Thursday.

FBM KLCI down 0.67% to 1,577.2 on Jan 23, 2025

Furniture maker Rhong Khen International Bhd (KL:RKI) is selling its Vietnamese indirect subsidiary RT Industries Company Ltd (RTI) to Singapore-based Maideli Pte Ltd for US$7.12 million (RM31.66 million) in cash.

The sale is expected to yield a gain of up to RM15.5 million for Rhong Khen. This move is part of the group’s strategy to streamline operations, reduce costs amid challenging market conditions, and strengthen its liquidity position.

Furniture maker Rhong Khen to rake in RM16 mil gain from Vietnam indirect unit sale 

Pent-up demand for mergers and acquisitions, particularly among private equity firms, is poised to spur a surge in deal activity, Morgan Stanley Chief Executive Officer Ted Pick said.

“Part of the dilemma is that the vernacular of whether we’re really moving with animal spirits is whether we see a bunch of M&A prints,” Pick said Thursday in an interview with Bloomberg Television at the World Economic Forum in Davos, Switzerland.

Morgan Stanley CEO Pick sees comeback in M&A activity on horizon

US main stock indices were set for a subdued start on Thursday, as investors paused after Wall Street's strong performance in the previous session and focused on corporate earnings, economic data and President Donald Trump's remarks - all lined up through the day.

At 8.52am ET, Dow E-minis 1YMcv1 were up 45 points, or 0.1%, S&P 500 E-minis EScv1 were down 5.25 points, or 0.09% and Nasdaq 100 E-minis NQcv1 were down 97.5 points, or 0.44%.

Wall St subdued at open after previous session's jump; earnings in focus

A tech-powered approach to bond trading that helps firms move hundreds of securities in one go has just posted its best year yet.

Wall Street’s tech-powered bond trades hit record US$1 trillion

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Econframe Bhd (KL:EFRAME) is buying Ipoh-based manufacturer and seller of wooden doors Ivory Pearl Sdn Bhd (IPSB) for RM56 million, in a move to expand its footprint in the UK and Australian markets. 

Econframe is paying RM46.67 million in cash — to be funded via a combination of internally generated funds and bank borrowings — to buy IPSB from the major shareholders, which include Yeong Chew Tet and Lee Kok Choy, who owned 31.5% stake and 17.1% stake in the company, respectively.

Econframe buys Ipoh-based wooden doors maker for RM56 mil

Changpeng 'CZ' Zhao, a few months out of prison and worth US$70 billion thanks to the relentless crypto rally, is turning the former venture capital arm of his Binance Holdings Ltd into a family office.

Binance Labs, which oversees about US$10 billion of crypto-related assets, will be renamed YZi Labs, according to a statement on Thursday. Zhao brought back Ella Zhang, who helped set up Binance Labs in 2018 and left two years later, to run the outfit. YZi Labs will also manage the wealth of Binance co-founder Yi He, with whom Zhao has three children.

Crypto’s richest man CZ turns VC firm into giant family office

The number of Americans on benefit rolls climbed to a more than three-year high, while first-time applications for US unemployment insurance edged slightly higher.

Continuing claims, a proxy for people who are already receiving benefits and still can’t find a job, jumped to 1.9 million in the week ended Jan. 11, the highest since November 2021, according to Labor Department data released on Thursday. Initial claims increased by 6,000 to 223,000 last week.

US jobless claims rise slightly but recurring applications surge

The Malaysian Employers Federation (MEF) has declared its opposition to any policy or practice of basing wages on gender, asserting that employers should reward employees based on their contributions and performance.

In a statement on Thursday, MEF president Datuk Dr Syed Hussain Syed Husman called on all employers to immediately address and rectify any existing gender-based pay disparities as he highlighted the crucial role women have played in Malaysia’s progress and development.

Employers federation calls for immediate end to gender-based pay disparities

KUALA LUMPUR (Jan 23): The High Court allowed the forfeiture of Ricky Wong Shee Kai’s luxury condominium unit at Four Seasons Place in Kuala Lumpur, as well as RM445,039.28 in the businessman’s personal fixed deposit account.

High Court allows seizure of Ricky Wong's luxury condo unit, fixed deposit

Café chain operator Oriental Kopi Holdings Bhd (KL:KOPI), which debuted on the ACE Market of Bursa Malaysia on Thursday, said the company is scaling up its product offerings in the fast-moving consumer goods (FMCG) segment, targeting the launch of over 20 products by year end.

Oriental Kopi aims to launch over 20 fast-moving consumer goods by year end

Sime Darby Property Bhd (KL:SIMEPROP) has signed five anchor tenants for its upcoming KLGCC Mall, marking a significant milestone in the company's retail expansion strategy.

The tenants include Jaya Grocer, Serai Group’s flagship concept, ACE Hardware, Asia Ballet Academy, and the first HarborLand kids playland in Malaysia.

Sime Darby Property secures five anchor tenants for KLGCC Mall

YTL Corp Bhd (KL:YTL) and YTL Power International Bhd (KL:YTLPOWR) have each proposed a bonus issue of free warrants, on the basis of one free warrant for every five shares held in the respective companies. The warrants are planned to be exercised at a discount to the share prices of each company —&nbsp;at 37% discount for YTL Corp, and a 39.5% discount for YTL Power based on their closing prices on Thursday&nbsp;— bourse filings showed.

YTL Corp, YTL Power plan free warrants; exercise prices at discount to market prices

Gamuda Land, in collaboration with Meaningfull Life, is launching Malaysia’s first integrated eldercare facility within its twentyfive7 township, setting a new benchmark for multi-generational community living.

Gamuda Land unveils Malaysia’s first integrated eldercare facility in twentyfive7

BYD Co has beaten out Toyota Motor Corp to take the title of most popular car brand in Singapore for the first time.

BYD outsells Toyota to becomes Singapore’s most popular car

KUALA LUMPUR (Jan 23): KIP Real Estate Investment Trust (KL:KIPREIT) unitholders have approved the acquisition of four industrial properties associated to its largest shareholder Datuk Eddie Ong Choo Meng, for a total purchase price of RM98.3 million.

KIP REIT unitholders approve RM98m industrial properties buy from Eddie Ong

The share price of Gadang Holdings Bhd (KL:GADANG) may rally on the back of strong earnings growth, following a better-than-expected quarter, TA Securities said.

Gadang shares may rally on strong earnings growth, says TA Securities in upgrade to 'buy'

Kepala Batas Member of Parliament Dr Siti Mastura Muhammad has settled the payment of RM830,034.75 in damages and legal costs (including interest) to three DAP stalwarts.

PAS MP Siti Mastura settles payment of RM830k to Kit Siang, Guan Eng and Teresa Kok pending defamation appeal

KUALA LUMPUR (Jan 23): Aeon Co (M) Bhd (KL:AEON) is set to deliver another strong performance in the final quarter of the financial year 2024, with a projected net profit of RM57.3 million, according to CIMB Securities.

Aeon poised for strong 4Q performance on festive season, reopening of stores — CIMB Securities

The Securities Commission Malaysia (SC) has issued a statement to give the assurance that&nbsp;it is closely monitoring recent takeover activities in the Malaysian market&nbsp;to ensure compliance with relevant regulations, and to safeguard the integrity of the capital market, citing recent interest in such matters.

SC says it is keeping close watch on takeovers amid public interest in MAHB deal

KUALA LUMPUR (Jan 23): KIP Real Estate Investment Trust (KL:KIPREIT) said it remains in acquisition mode, aiming to expand its portfolio with more retail and industrial properties.

KIP REIT remains in acquisition mode, says CEO

Binastra Corporation Bhd (KL:BNASTRA) may introduce a dividend payout earlier than expected in FY2025, according to Phillip Capital.

Binastra could issue dividend as early as FY2025 — Phillip Capital

Malaysian Resources Corp Bhd (KL:MRCB) is partnering Ipoh Sentral Sdn Bhd (ISSB) to jointly develop the Ipoh Sentral project, with an estimated gross development value of RM6.25 billion.

MRCB to jointly undertake RM6.25b GDV Ipoh Sentral development project

Prime Minister Datuk Seri Anwar Ibrahim said the government is working on a more targeted approach for the provision of toll exemptions during festive seasons.

Govt working on targeted toll exemptions for festive seasons, to benefit only B40, M40 — PM

KUALA LUMPUR (Jan 23): Westports Holdings Bhd (KL:WSPRTS) reported a record-high net profit of RM256.7 million for the fourth quarter ended Dec 31, 2024 (4QFY2024), a 25% increase from RM206.1 million a year ago, driven by higher container revenue.

Westports books record revenue and profit for FY2024, declares 10.86 sen dividend

Former prime minister Datuk Seri Najib Razak on Thursday sought to portray a contrast between his leadership style with the 'work-in-silo' culture in 1Malaysia Development Bhd (1MDB).

1MDB-Tanore trial: Work-in-silo not my leadership style, says Najib

Singapore has charged Wang Junjie, the former director of a local corporate service provider linked to individuals caught up in the city-state’s record S$3 billion (US$2.2 billion or RM9.7 billion) money-laundering case.

Singapore charges former director in record laundering case

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Constitutionalism and the independence of the judiciary took centre stage in the speech of The Right Honourable the Chief Justice of Malaysia, Tun Tengku Maimun Tuan Mat, at the opening of the legal year on Jan 8, 2025.