<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Feb 12): Seremban-based property developer Matrix Concepts Holdings Bhd (KL:<a href="/askedge/klse/5236" class="ce-stock" target="_blank">MATRIX</a>) is divesting 38.65 acres of land in the town for RM90.91 million in a related-party transaction.</p></div>

<div class=newsTextDataWrapInner><p>The vacant agricultural land is part of the upcoming industrial development, MVV Techvalley, in the Mukim of Labu, according to the group’s filing with Bursa Malaysia on Wednesday.</p></div>

<div class=newsTextDataWrapInner><p>The sale of the land by Matrix Concepts' 85%-owned subsidiary, N9 Matrix Development Sdn Bhd, to Kuntum Kemuning Sdn Bhd, a company involved in property investments, is deemed a related-party deal as Matrix Concepts’ managing director Ho Kong Soon is also the sole shareholder of Kuntum Kemuning.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>Under the terms of the transaction, 10% of the selling price was paid upon execution of the agreement, while the remaining 90% will be settled in stages based on work progress.</p></div>

<div class=newsTextDataWrapInner><p>The transaction is expected to be completed within 12 months.</p></div>

<div class=newsTextDataWrapInner><p>Shares of Matrix Concepts closed down four sen or 1.75% to RM2.25 on Wednesday, valuing the group at RM2.87 billion.</p></div>


Seremban-based property developer Matrix Concepts Holdings Bhd (KL:MATRIX) is divesting 38.65 acres of land in the town for RM90.91 million in a related-party transaction.

Matrix Concepts sells Seremban land for RM91m in related-party deal

China Petroleum & Chemical Corp, known as Sinopec, reported a 16.8% decline in 2024 net profit on Sunday, citing lower crude oil prices and the accelerated development of the new energy vehicle (NEV) industry.

Sinopec's 2024 net profit plunges 16.8% due to falling oil prices, NEVs

Chinese Premier Li Qiang said the country is prepared for “shocks that exceed expectations” as the world braces for US President Donald Trump to announce more tariffs on its trading partners next month.

China says it’s prepared for shocks as US tariffs loom

US President Donald Trump said efforts to stop the war between Russia and Ukraine from escalating further are “under control.”

Trump says efforts to contain war in Ukraine ‘under control’ 

A Turkish court on Sunday formally arrested President Recep Tayyip Erdogan’s top political rival, in a decision likely to stoke further protests and keep local markets under pressure as tensions mount.

Türkiye jails Erdogan’s top foe Imamoglu, risking more unrest

The manufacturing sector is seeking a one-year deferment of the planned 2% Employees Provident Fund (EPF) contribution for foreign workers, citing multiple cost increases faced by businesses.

Manufacturers seek one-year deferment of 2% EPF contribution for foreign workers 

Gold price is on fire! The precious metal continues to defy expectations, repeatedly smashing record highs as investors seek refuge from global economic turbulence.

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Consumers’ ability to repay debt from 'buy now, pay later' (BNPL) facilities is increasingly a concern, especially with the significant growth in BNPL transactions in Malaysia, thus raising concerns about the risks of high indebtedness and the importance of financial literacy.

BNPL and debt: Between convenience and concern

The Federal Court is scheduled to hear the Attorney General's Chambers (AGC) application for leave to appeal against the Court of Appeal’s ruling on the existence of an additional document in the case involving former prime minister Datuk Seri Najib Tun Razak on Monday.

Top court to hear AGC’s leave application on Najib’s house arrest addendum tomorrow

Roughly 100 people waved signs and danced in protest outside a Tesla dealership in Washington on Saturday, angry at the electric vehicle maker's billionaire CEO Elon Musk, who has led efforts to sharply cut the federal workforce.

Anti-Musk protesters gather outside Tesla dealership in Washington

Israeli artillery and airstrikes hit south Lebanon on Saturday after Israel said it had intercepted rockets fired from across the border, killing at least eight people and endangering a shaky truce that ended a year-long war between Israel and Lebanese armed group Hezbollah.

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<p>Gold price is on fire! The precious metal continues to defy expectations, repeatedly smashing record highs as investors seek refuge from global economic turbulence.</p>


<p>In this week's issue, we take a look at Kajang and how it has evolved over the years. Over the past five years, transaction data of residential properties in the Kajang town centre has shown fairly stable growth, compared with areas nearer to the Kuala Lumpur city centre, thanks to affordable property prices, coupled with excellent connectivity and well-established infrastructure and amenities.</p>


Old town charm

<p>Chinese Premier Li Qiang said the country is prepared for “shocks that exceed expectations” as the world braces for US President Donald Trump to announce more tariffs on its trading partners next month.</p>


<p>Australia’s Treasurer Jim Chalmers has warned the impact of the new US administration’s policies will have a “seismic” impact on the global economy, ahead of his fourth national budget due to be handed down on Tuesday.</p>


Australia treasurer warns of ‘seismic’ US global economic shock

<p>The manufacturing sector is seeking a one-year deferment of the planned 2% Employees Provident Fund (EPF) contribution for foreign workers, citing multiple cost increases faced by businesses.</p>


<p>Consumers’ ability to repay debt from 'buy now, pay later' (BNPL) facilities is increasingly a concern, especially with the significant growth in BNPL transactions in Malaysia, thus raising concerns about the risks of high indebtedness and the importance of financial literacy.</p>


<p>Celebrity chef Norzaini Abd Hamid (fondly known as Aunty Aini) is most remembered for her appearance on Gordon Ramsay’s travelogue foodie series, <i>Gordon’s Great Escape</i>, where she taught the British chef a traditional beef <i>rendang</i> recipe and famously told him off: “Be patient” and “Don’t burn my food!” at her home-based restaurant Aunty Aini’s Garden Cafe in Nilai, Negeri Sembilan.</p>


Rooted in tradition

<p>Israeli artillery and airstrikes hit south Lebanon on Saturday after Israel said it had intercepted rockets fired from across the border, killing at least eight people and endangering a shaky truce that ended a year-long war between Israel and Lebanese armed group Hezbollah.</p>


<p>A Turkish court on Sunday formally arrested President Recep Tayyip Erdogan’s top political rival, in a decision likely to stoke further protests and keep local markets under pressure as tensions mount.</p>


<p>The Federal Court is scheduled to hear the Attorney General's Chambers (AGC) application for leave to appeal against the Court of Appeal’s ruling on the existence of an additional document in the case involving former prime minister Datuk Seri Najib Tun Razak on Monday.</p>


<p>Roughly 100 people waved signs and danced in protest outside a Tesla dealership in Washington on Saturday, angry at the electric vehicle maker's billionaire CEO Elon Musk, who has led efforts to sharply cut the federal workforce.</p>


<p>US inflation remains at a disquieting level for Federal Reserve officials, just as the Trump administration moves forward with tariffs that risk keeping price pressures elevated.</p>


Sticky US inflation and tariffs are keeping the Fed sidelined

<p>US President Donald Trump said efforts to stop the war between Russia and Ukraine from escalating further are “under control.”</p>


<p>China Petroleum &amp; Chemical Corp, known as Sinopec, reported a 16.8% decline in 2024 net profit on Sunday, citing lower crude oil prices and the accelerated development of the new energy vehicle (NEV) industry.</p>
