<div class=newsTextDataWrapInner><p><span style="font-style: italics;">This article first appeared in The Edge Financial Daily on February 8, 2018</span></p></div><div class=newsTextDataWrapInner><p>KUALA LUMPUR: Benalec Holdings Bhd has declined to sell 12 plots of land owned by its wholly-owned units in Pekan Klebang and Melaka Tengah in Melaka, to engineering solutions provider Spring Gallery Bhd for about RM186.63 million.</p></div>

<div class=newsTextDataWrapInner><p>Its units Heritage Land Sdn Bhd, Klebang Property Sdn Bhd and Heritage Land Development Bhd received three letters of offer from Million Rich Development Sdn Bhd, a wholly-owned unit of Spring Gallery, on Jan 26.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>The plots, measuring a collective 4.44 million sq ft, are all leasehold land with their leases set to expire between April 2111 and Oct 2112.</p></div>

<div class=newsTextDataWrapInner><p>In making the offer at the time, Spring Gallery said Million Rich was planning to develop nine pieces of adjacent plots with a theme park operator, and so the group believe the proposed acquisition would gain it access to prime land for future investment.</p></div>

<div class=newsTextDataWrapInner><p>“After evaluating the said offer, the management is of the view that the offer is not in the best interest of the company and therefore have decided not to accept the said offer vide a reply letter dated Feb 6, 2018,” Benalec said in a Bursa Malaysia filing yesterday.</p></div>

<div class=newsTextDataWrapInner><p>Benalec shares were trading unchanged at 37 sen at 3.25pm, while Spring Gallery's slipped 8 sen or 7.14% to RM1.04.<br />
&nbsp;</p></div>


KUALA LUMPUR: Benalec Holdings Bhd has declined to sell 12 plots of land owned by its wholly-owned units in Pekan Klebang and Melaka Tengah in Melaka, to engineering solutions provider Spring Gallery Bhd for about RM186.63 million.

Its units Heritage Land Sdn Bhd, Klebang Property Sdn B...

Benalec declines Spring Gallery's RM186.63m offer for Melaka plots

KUALA LUMPUR (April 25): Synergy House Bhd may trend higher after breaking out from its one-week bullish rectangular pattern two sessions ago, to a new all-time high.

In a technical view note on Thursday, the research house said that as the stock formed a white marubozu candlestick yest...

Synergy House may trend higher, says Rakuten Trade 

(April 25): Singapore's Keppel said on Thursday its first-quarter net profit excluding the effects of legacy offshore and marine assets was higher, boosted by strong performance in the global asset manager's infrastructure and connectivity segments.

Including its legacy offshore and mar...

Singapore's Keppel profit rises on strong infra, connectivity performance

BERLIN/MEXICO CITY/WASHINGTON (April 25): Germany is waging a charm offensive inside the Republican Party. Japan is lining up its own Trump whisperer. Mexican government officials are talking to Camp Trump. And Australia is busy making laws to help Trump-proof its U.S. defense ties.

Eve...

How US allies are preparing for a possible second Trump term

Apex Research says Ramssol is kicking off the year with a blast

MORNING CALL: 25/4/24

KUALA LUMPUR (April 25): RHB Retail Research said NationGate Holdings Bhd is observing a technical breakout after climbing above the RM1.70 immediate resistance on surging trading volume.

In a trading stocks note on Thursday, the research house said that as such, the bullish momentum ma...

NationGate is observing a technical breakout, says RHB Retail Research 

RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.

Naim Holdings likely to resume its uptrend, says RHB Retail Research 

(April 25): Binance co-founder Changpeng Zhao is facing up to three years in prison, if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.

Totaling...

Friends, family, royalty seek mercy for crypto’s richest man

(April 25): A disappointing earnings report from Meta Platforms Inc. has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.

Shares of Facebook’s parent were down as much as 19% in after-hours trading and...

Meta’s miss sparks fear in tech world with big earnings looming

(April 25): Russia vetoed a United Nations Security Council resolution that would have reaffirmed a global commitment against deploying nuclear weapons in space, rebuffing US efforts to shine a spotlight on Moscow’s reported plans to do so.

The resolution underscored that countries are ...

Russia blocks US bid to reaffirm nuclear-arms ban in space

Benchmark S&P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.

S&P 500 ends higher as markets weigh rising yields, upbeat corporate results

<p>The daughter of a Chinese nickel billionaire purchased a multimillion-dollar mansion in Singapore, adding to the list of wealthy people seizing buying opportunities during the market lull.</p>

<p>Xiang Yangyang, the daughter of Xiang Guangda, who owns Tsingshan Holding Group Co, the world’s largest nickel and stainless steelmaker, agreed to buy the 2,612 sq m (28,111 sq ft) house in the country’s Bin Tong Park enclave, according to a property record seen by <em>Bloomberg News.</em></p>


Chinese metal tycoon’s heir buys US$62m Singapore mansion

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


KLCCP, Suria Capital, Capital A, Calsberg, Hibiscus Petroleum, Chin Hin, OCR, Fajarbaru, I-Bhd, Farm Price, United Plantations, AME REIT, Axis REIT, MyEG

<p>KUALA LUMPUR (April 24): Construction outfit Fajarbaru Builder Group Bhd has bagged a RM252.26 million contract from WCT Holdings Bhd to undertake Phase 1 of a two-phase development of two blocks of serviced apartments in Johor Bahru.</p>


Fajarbaru Builder bags RM252m construction job in Johor Bahru from WCT

<p>(April 25): A disappointing earnings report from Meta Platforms Inc. has technology investors on edge with results from some of the stock market’s biggest and most important companies due in the coming days.</p>

<p>Shares of Facebook’s parent were down as much as 19% in after-hours trading and...

<p>Eden Inc Bhd’s major shareholder Tan Sri Abd Rahim Mohamad is proposing to settle a RM45.65 million debt his company owes Eden by transferring the ownership of a 2.4 million sq ft (about 55 acres) leasehold land to the listed entity.</p>


Eden's major shareholder proposes land transfer to settle RM45.65m debt owed to company

<p>KUALA LUMPUR (April 24): Suria Capital Holdings Bhd’s wholly owned Sabah Ports Sdn Bhd has roped in DP World, an Emirati multinational logistics company based in Dubai, to manage Sapangar Bay Container Port (SBCP), in a bid to cement the port’s position as a regional trade hub for the East Asean growth area spanning Brunei, Indonesia, Malaysia and the Philippines (BIMP-EAGA).</p>


Suria Capital’s Sabah Ports ropes in Dubai’s DP World to manage Sapangar Bay Container Port

<div class="ceonothumb mx-auto pb-5">
<div>
<div class="iframe-w100-wrapper"><iframe allowfullscreen="" frameborder="0" height="500" src="https://www.youtube.com/embed/F71Zbo8fCRo?si=EJn8MQBYV-CAV27h&amp;rel=0&amp;autoplay=1&amp;mute=1" width="840"></iframe></div>
</div>

<p class="thumb-cap">E...

EVENING 5: Five things you need to know today

<p>The High Court here on Wednesday dismissed a judicial review application by Musang King durian planters around Raub to challenge the Pahang government's decision to issue eviction notices against them.</p>


High Court bins Musang King farmers’ bid to challenge land eviction notice in Pahang

<p>The prosecution succeeded in its appeal at the Federal Court on Wednesday to forfeit RM1,112,700 from 79 investors involved in an illegal deposit-taking scheme.</p>


Apex court allows forfeiture of RM1.11m belonging to investors of illegal deposit-taking scheme

<p>TikTok's chief executive said on Wednesday that the company expects to win a legal challenge to block legislation signed into law by President Joe Biden that he said would ban the popular short video app used by 170 million Americans.</p>


TikTok CEO expects to defeat US restrictions: 'We aren't going anywhere'

<p>US President Joe Biden’s recent polling bump in key battleground states has mostly evaporated, as a deep current of pessimism about the trajectory of the US economy hurts his standing with voters.</p>


Biden trails Trump in six of seven key states, poll shows

<p>CapitaLand Malaysia Trust (CLMT) reported a 63% in its first quarter net property income to RM63.98 million from RM39.24 million a year ago, driven by full quarter revenue contribution from Queensbay Mall, higher occupancies and positive rental reversions.</p>


CLMT’s 1Q net property income jumps 63% to RM64m, DPU up 37%

<p>Benchmark S&amp;P 500 closed higher in choppy trading on Wednesday, as investors weighed an uptick in Treasury yields amid positive corporate results particularly from technology giants.</p>


<p>(April 25): Binance co-founder Changpeng Zhao is facing up to three years in prison, if efforts by US prosecutors to secure his sentencing prove successful. More than 160 friends, colleagues and investors are determined for the crypto executive to escape incarceration entirely.</p>

<p>Totaling...

<p>The strategic collaboration between Sabah Ports Sdn Bhd (SPSB) and DP World, a global port terminal operator, will be a boon to Sabah’s aspiration to promote the Sepangar Bay Container Port (SBCP) as a key transshipment hub in the region, said Chief Minister Datuk Seri Hajiji Noor.</p>


Hajiji: Tie-up between Sabah Ports, DP World to boost state’s aim to become transshipment hub

<p>KOTA KINABALU (April 24): The Sabah government has a deficit of almost RM1 billion to carry out road repairs and maintenance works in the state, the state assembly sitting was told on Wednesday.</p>


Sabah govt has a deficit of almost RM1b for road repairs, maintenance

<p>The Nasdaq outpaced Wall Street peers on Wednesday, with Tesla leading gains among megacap stocks after its quarterly results, while upbeat earnings reports across other sectors also offered support.</p>


Nasdaq outshines Wall Street peers on tech boost, earnings glee 

<p>Cocoa resumed gains in New York, with prices the most volatile in almost five decades amid uncertainty over a historic crunch and as traders pull out of the market.</p>


Cocoa price swings are the craziest since the 1970s

<p>US and European shares finished mixed on Wednesday ahead of more corporate earnings this week, and the yen was mired near 34-year lows, keeping traders wary of intervention from Japan.</p>


Equities mixed as investors eye earnings; yen on intervention watch

<p>RHB Retail Research said Naim Holdings Bhd is likely to resume its uptrend after the recent consolidation above the 97.5 sen breakout level.</p>
